Stratulat Albulescu advises Bog’Art Residential on the acquisition of 2 land plots located in the North of Bucharest
The plots totaling 6,500 sq.m., were purchased from OMV Petrom S.A. (part of OMV Group) with a view to be developed into a 130 apartment residential complex. Construction is due to start in the second half of this year, while delivery is expected around H1 2022.
Bog’Art Residential is the real estate investment division of the reputed Bog’Art Group focused on the development of premium apartments in central and nothern Bucharest. The company’s strategy includes developing over 500 residential units to be delivered in the next 5 years.
The Stratulat Albulescu team was led by Managing Partner Silviu Stratulat in the due diligence and pre-agreement phase and then by Partner Corneliu Popa on completion.