Stratulat Albulescu has advised the Niro Investment Group on a EUR 24 million loan from Libra Bank.
Niro Investment is a Romanian real estate and management group with over 25 years of expertise in the investment, development and asset management industry.
The funds will be used for the development of a hotel project in Expozitiei Boulevard, which will be operated by Accor Group under the Swissotel brand. The hotel is due to open in 2022 with total investment estimated at EUR 52 million.
Libra Bank was founded in 1996 and has been a part of American investment group New Century Holdings since 2003. NCH, which has been present in Romania since 1993, has invested over USD 300 million in various sectors.
The Stratulat Albulescu team was led by Partner Costin Teodorovici, supported by Managing Associate George Chiocaru.
Stratulat Albulescu did not reply to our inquiry on the matter.