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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

BSTDB lends EUR 50 mln to One United for office project in Bucharest

The Black Sea Trade and Development Bank (BSTDB) has extended a EUR 50 million loan to One United Tower, a special purpose vehicle set up in 2017 by local developer One United Properties to develop and operate the One Tower office building part of the mixed-use project One Floreasca City.

Civic organizations, including the Save Bucharest Association previously led by Bucharest's current mayor Nicusor Dan, strongly opposed the project and challenged it in court, Economica.net reminded.

The BSTDB loan will cover the development costs of One Tower, "a green office building part of the newly developed One Floreasca City mixed-use complex located on a formerly abandoned industrial site in the Romanian capital," BSTDB's statement reads.

The project's total cost is EUR 54 million. The company will use part of the loan to refinance project costs incurred so far and funded by the shareholders.

The One Tower building is due for inauguration in the first half of the year.

This is the second financing granted by the BSTDB to a Romanian real estate project. Last year, the bank invested EUR 35 mln in a EUR 400 mln bond issue launched by Globalworth.

One United Properties was founded in 2007 by local entrepreneurs Victor Capitanu and Andrei Diaconescu.

andrei@romania-insider.com

(Photo source: the company)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

BSTDB lends EUR 50 mln to One United for office project in Bucharest

The Black Sea Trade and Development Bank (BSTDB) has extended a EUR 50 million loan to One United Tower, a special purpose vehicle set up in 2017 by local developer One United Properties to develop and operate the One Tower office building part of the mixed-use project One Floreasca City.

Civic organizations, including the Save Bucharest Association previously led by Bucharest's current mayor Nicusor Dan, strongly opposed the project and challenged it in court, Economica.net reminded.

The BSTDB loan will cover the development costs of One Tower, "a green office building part of the newly developed One Floreasca City mixed-use complex located on a formerly abandoned industrial site in the Romanian capital," BSTDB's statement reads.

The project's total cost is EUR 54 million. The company will use part of the loan to refinance project costs incurred so far and funded by the shareholders.

The One Tower building is due for inauguration in the first half of the year.

This is the second financing granted by the BSTDB to a Romanian real estate project. Last year, the bank invested EUR 35 mln in a EUR 400 mln bond issue launched by Globalworth.

One United Properties was founded in 2007 by local entrepreneurs Victor Capitanu and Andrei Diaconescu.

andrei@romania-insider.com

(Photo source: the company)

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