One United buys the Eliade Tower
Romanian property developer and investor One United Properties has completed the acquisition of the Eliade Tower office building in Bucharest from Eurobank SA Greece for 9.5 million euros.
The Eliade Tower comprises approximately 10,000 m² over ten floors. The building, which is 50% let, is located on Bulevardul Mircea Eliade, north of downtown Bucharest and on the same 2.9 ha site of the former Automatica factory on which One United Properties has developed its One Floreasca City mixed-use project. This includes the One Tower office building, the three-building residential project One Mircea Eliade, and the One Gallery shopping center (formerly a Ford factory).
We are interested in opportunities to acquire key properties for our portfolio, and our recent capital raise allows us to do so. Eliade Tower has a strategic location near One Floreasca City, in perhaps the most desirable location in Bucharest today. In the short term, the Eliade Tower will function as an office building in our company’s portfolio, but in the medium and long term we will analyze the optimal use of the property.
Victor Căpitanu, co-CEO of One United Properties
One United Properties’ office portfolio currently includes One Tower, One Cotroceni Park, One Victoriei Plaza, One Herăstrău Office, One North Gate and Eliade Tower. It will reach a total leasable area of over 150,000 m² by the end of 2022 after the delivery of phase two of One Cotroceni Park Office. Together with its commercial properties, consisting mainly of Bucur Obor and One Gallery, the company’s total commercial property portfolio has a leasable area of almost 200,000 m².