Romanian real estate developer One United Properties [BVB:ONE] said that it has contracted a loan worth 20 million euro ($21.4 million) from local lender Banca Transilvania [BSE:TLV], says SeeNews.com.
The company will use the many to fund the completion of One Cotroceni Park, a residential development in the capital Bucharest due for end-2023, it said in a press release.
The loan’s term is 42 months.
One Cotroceni Park is a mixed-use development which boasts housing units and office spaces. The compound boasts 868 apartments and is only the first phase of a larger project, called One Cotroceni City, the company detailed.
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