Stratulat Albulescu advises Keys REIM on the sale of an uncompleted building in the historic centre of Bucharest to One United Properties
The building is located at 8-10 Georges Clemenceau Street, near the Romanian Athenaeum and has a gross buildable area of approximately 10,150 sq. m., being developed on a plot of land with an area of 1,361 sq.m.. The value of the transaction amounts to 13.5 million euros.
The building will be transformed into a 5-star lifestyle hotel - One Plaza Athénée, comprising approximately 100 luxury hotel rooms and will benefit from the highest quality related services such as swimming pool, spa, restaurants, and other facilities on the ground floor. The inauguration is estimated to take place in 2025.
One United Properties - BVB: ONE (https://www.one.ro/en/) was founded in 2009 by Victor Capitanu and Andrei Diaconescu and is one of the leading green investors and developers of residential, mixed-use, and office real estate in Romania.
Keys REIM (https://www.keys-reim.com/en/) is an investment fund offering an array of diversified and complementary investment solutions.
The Stratulat Albulescu team advising the seller was led by Managing Partner Silviu Stratulat and Partner Tudor Ciambur and also included Senior Associate Daiana Assoum.