“Today’s transaction is a success for us, particular as it came at a challenging time. The sale of The Light One building will allow us to further development on our other projects in Sema Parc and The Light,” said Ion Radulea, founder and CEO of River Development.
The Light One is the first Class A office building out of three planned in The Light, a mixed-use office and residential project. The office building has a total lettable area of 21,653 square meters, is certified BREEAM Excellent and tenants include Regina Maria, Banca Transilvania, Comdata, Vego Holding, ON Semiconductor, Manpower Group, Sweat Concept.
The sale was advised by law firm Biris Goran SPARL for the seller and Schoenherr for the buyer.
River Development is currently developing the projects The Light (150,000 sqm) and Sema Parc (1 million sqm), both located in the western area of Bucharest.