The deal is worth EUR6 million and accounts for about 20% of the assets of One North Gate SRL. The buyer is Element Investitii Imobiliare SRL, a company held by a local group of investors, the report reads.
The asset One sold to Element Investitii Imobiliare is an office building with a gross lettable area (GLA) of 4,500 square meters distributed over four floors, and 131 parking spots. The building, known as One North Gate, is 80% leased at the moment.
One North Gate will keep the second building in the development, following the deal, which will be turned into a residential project called One North Lofts. The capital from the sale of the office building will be reinvested in the development of One North Lofts, which will have 137 apartments on a gross building area of 20,000 square meters and 237 underground and above ground parking spots, One officials say.
The gross development value of One North Lofts is EUR30 million.
(English version by Loredana Fratila-Cristescu)