July 26 (SeeNews) - Romanian real estate developer One United Properties has signed a 78 million euro ($92 million) loan agreement with three banks to finance the office component of its One Cotroceni Park project in Bucharest, the company said on Monday.
The financing banks are Banca Comerciala Romana (BCR), BRD Group Société Générale and Erste Bank, and the loan's term is seven years, One United Properties said in a statement.
Developed on 5.8 hectares, One Cotroceni Park will include an office component with two large Class A office buildings with approximately 75,000 sqm GLA, a residential compound with over 850 units, and a commercial complex.
Earlier this month, One United started trading on the main market of the Bucharest Stock Exchange (BVB), AeRO. The listing came after the company, founded in 2007 by Romanian entrepreneurs Victor Capitanu and Andrei Diaconescu, attracted 260 million lei ($63 million/ 52.8 million euro) from investors in July in the first primary initial public offering on the BVB in the last seven years.
At the end of last year, One United Properties had a portfolio of completed residential projects with a gross development value of over 222.6 million euro and other projects under development or planned of 939.4 million euro.
As at 1652 CET on Monday, One United's shares traded 0.55% lower at 1.8 lei ($0.4/0.37 euro) on the BVB.
(1 euro=4.9208 lei)
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