One United Properties (BVB: ONE), one of the leading green developers of residential, mixed-use, and office real estate in Romania, announces the acquisition of a historic building in Bucharest, with a purpose to transform it into a new high-class development called One Athénée.
The building is located at 2 Georges Clemenceau Street in Bucharest, near the Romanian Athenaeum. The value of the transaction amounts to 4.9 million euros and the estimated gross development value is 21 million euros.
“We are thrilled to sign the transaction for a building with such a unique history. There are many important historic buildings, abandoned and in need of significant improvements located in Bucharest. Through this development, we want to bring back the appreciation of the past to these buildings, adapted to the new reality. Our long-term vision takes into consideration further developments in this area, as we want to contribute to the protection and regeneration of the cultural heritage in the center of Bucharest,” stated Victor Capitanu, cofounder of One United Properties.
The building, classified as a historical monument, will be entirely renovated by One United Properties. After completing the restoration process, the location will host exclusive commercial spaces on the ground and the first floor. The upper flats will host ten high-class apartments overlooking the Romanian Athenaeum. One Athénée is the first development of One United Properties that includes the restoration of a historical monument with the purpose of protecting and regenerating the cultural heritage of Romania’s capital.
One United Properties is listed on the Main Market of the Bucharest Stock Exchange. The company’s shares floated on BVB on July 12th, 2021, following a successful IPO, during which the company raised 260 million lei for further developments in both the residential and office segments. In the first six months of 2021, One United Properties registered a record turnover of 434 million, a 96% increase compared to the same period of 2020, and a net profit of 147.5 million lei, a 267% surge.