Stratulat Albulescu has advised Keys REIM on its EUR 13.5 million sale of an unfinished building in Bucharest to One United Properties. The Law Chamber advised the buyer.
According to Stratulat Albulescu, the sold building is located at 8-10 Georges Clemenceau Street, near the Romanian Athenaeum, and has a gross buildable area of approximately 10,150 square meters.
"The building will be transformed into a five-star lifestyle hotel – One Plaza Athenee – comprising approximately 100 luxury hotel rooms and will benefit from the highest quality related services such as a swimming pool, spa, restaurants, and other facilities on the ground floor," Stratulat Albulescu reported. "The inauguration is estimated to take place in 2025."
Keys REIM is an investment fund offering investment solutions. Founded in 2009, One United Properties is an investor and developer of residential, mixed-use, and office real estate in Romania.
The Stratulat Albulescu team was led by Managing Partner Silviu Stratulat and Partner Tudor Ciambur and included Senior Associate Daiana Assoum.
The Law Chamber team included Partner Theodor McCann.