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18 October 2022
press release
romania

Romania: Schoenherr advises Eurobank on sale of Eliade Tower office building in Bucharest to One United Properties

Schoenherr Romania advised Eurobank S.A. Greece ("Eurobank") on the sale of an office building in Bucharest to One United Properties. The 10-floor Eliade Tower office building, located in the city's booming business area Floreasca, has an area of approx. 10,000 m2 and is currently 50 % leased.

"We are proud to have advised Eurobank in this transaction," said Mădălina Neagu (partner), who led the team advising Eurobank. "Since it first started to operate in Romania in 1996, Schoenherr has developed a strong track record in advising on M&A deals in the local real estate sector. This experience translates into efficient legal solutions for our clients."

Eurobank is a robust financial organisation that operates in six countries, with presence in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and the UK. As of 30 June 2022, Eurobank had EUR 80.2bln in total assets, 616 branches in Greece and abroad and 11,453 employees.

The buyer is One United Properties, a company listed on the Bucharest Stock Exchange that is a leading green investor and developer of residential, mixed-use and office real estate in Romania.

Schoenherr advised on all the legal aspects of this M&A deal. The team was led by Mădălina Neagu (partner) and included corporate/M&A specialists Cristina Enaga (managing attorney at law), Mihaela Popescu (senior attorney at law) and Alexandra Șmahon (attorney at law), and real estate specialists Adriana Stănculescu (managing attorney at law) and Laura Buzatu-Teodorescu (attorney at law).