One United buys Eliade Tower office building in Bucharest for EUR 9.5 mln
One United Properties (BVB: ONE), a leading green investor and developer of residential, mixed-use and office real estate in Romania, announced on October 6 that it completed the acquisition of the Eliade Tower office building in Bucharest. The building was bought from Eurobank S.A. Greece for EUR 9.5 million.
The Eliade Tower building has an area of approximately 10,000 sqm spread over 10 floors and is located on a plot of 4,224 sqm close to the mixed-use compound One Floreasca City (pictured) developed by One United Properties. Currently, the office building is about 50% leased.
“Eliade Tower has a strategic location near One Floreasca City, in maybe the most desired place to be in Bucharest today. In the short term, Eliade Tower will operate as an office building in our company’s office portfolio, but for the medium and long term, we will analyse the optimal use of the property,” said Victor Căpitanu, co-CEO of One United Properties.
One Floreasca City was developed on a plot of 2.9 ha, on the site of the former Automatica factory – a place abandoned for many years. The compound has an office component – One Tower, three residential towers – One Mircea Eliade and a commercial area – One Gallery (former Ford factory).
One United Properties’ office portfolio currently includes One Tower, One Cotroceni Park, One Victoriei Plaza, One Herăstrău Office, One North Gate and Eliade Tower, and will reach a total leasable area of over 150,000 sqm after the delivery of One Cotroceni Park Office Phase 2 by the end of 2022. Together with the commercial portfolio, consisting mainly of Bucur Obor and One Gallery, the former Ford factory, the company’s total portfolio for commercial rentals will reach a leasable area of almost 200,000 sqm.
One United Properties is listed on the Main Market of the Bucharest Stock Exchange, with the symbol ONE and its shares are included in multiple BET and STOXX indices, the FTSE Russell Global All-Cap index, which follows the most liquid shares in the world, and the FTSE EPRA Nareit EMEA Emerging index, which tracks the evolution of companies in the real estate sector in emerging markets.
(Photo source: One United Properties)