BPV Grigorescu Stefanica has helped Forty Management obtain a license from U.S.-based Crystal Lagoons to develop the EUR 100 million Central District Lagoon City in Bucharest.
Financial details of the licensing agreement were not disclosed.
According to BPV Grigorescu Stefanica, “the project will be developed on a 39,070 square property worth EUR 8.2 million, which was recently acquired from Butan Gas." The firm reports that "20,000 square meters of the property will be covered by white sandy lagoons with turquoise-colored water.”
BPV Grigorescu Stefanica’s team included Managing Partner Catalin Grigorescu and Managing Associate Nicolae Ursu, among others.