One United Properties has contracted a syndicated loan worth EUR 78 million . The company will soon access the money granted by BRD – Groupe Société Générale – S.A., Erste Bank A.G. and Banca Comercială Română – S.A. to two companies through which the Cotroceni Park project in Bucharest is being developed. This is the largest syndicated loan that a Romanian developer has accessed on the real estate market in recent years.
One Cotroceni Park Office – S.A. will contract a loan of up to EUR 40 million for financing and refinancing the development of two office buildings (A&B) with a gross leasable area of 46,643 sqm, but also a credit facility of up to EUR 6 million for partial financing of VAT during the construction phase.
One Cotroceni Park Office Phase 2 – SA will contract a loan of up to EUR 29 million for financing and refinancing the development of an office building (C) with a gross leasable area of 34,688 sqm, but also a credit facility of up to EUR 3 million for the partial financing of VAT during the construction phase.
