Biriş Goran is pleased to announce that it represented its client, One United Properties in a landmark private placement bond issuance for the development of high end real estate in Bucharest. One United Properties issued 20 million euros bonds maturing at 4 years, through private placement. The bonds will improve the company's capital structure and provide liquidity for new residential developments. This transaction has been finalized within one month of the aquisition of North Gate office building in Pipera, another notable transaction on the real estate market involving the Biris Goran team.
Biriş Goran team that assisted in the transaction was composed of Daniela Lazea, Christian Mîndru and Mariana Signeanu.
Daniela Lazea stated: "This is another notable transaction on the market, involving our real estate, finance and corporate teams and we are very happy that our client gave us the opportunity to be a part in the growth of the market through sustainable projects developed by the One United brand, which is an example for the Romanian entrepreneurship in terms of success and high standards."
Christian Mindru added: "Financing through bonds issuance is rather undevelopped in Romania as compared to other jurisdictions and we hope that such alternative method of financing adopted by One United Properties shall pave the way for others in the near future."
One United Properties is a leading real estate developer of premium residential compounds in Bucharest, Romania.
About Biriş Goran
Since the firm’s founding, Biriş Goran has been at the forefront of commercial real estate transactions in Romania, having advised as lead counsel on many of the largest transactions in the country. In 2017 Biriş Goran assisted Swiss investor Jacobs Holdings AG and Ibitol Group, in the sale of its flagship office center Coresi Business Park to Immochan, and One United Properties in the aquisition of North Gate offices in foreclosure procedure. In 2016 Biriş Goran assisted Soravia in the sale of Metropolis offices downtown Bucharest, AdamAmerica in its first investments in Romania – acquisition of Construdava, a 9,400 sqm office building and Phoenix Tower, a 10,000 sqm office tower. In the same year Biriş Goran advised Vastint Romania (member of Inter IKEA) in a 48-hectare land acquisition in the northern area of Bucharest. Biriş Goran has also advised Aberdeen Asset Management Deutschland AG in the sale of Auchan Titan Shopping Centre, in the largest real estate transaction in 2015, and advised Pumac SA in the sale of 21,000 sqm land plot to Skanska, in the largest land transaction in 2015. In 2014, Biriş Goran represented Raiffeisen Evolution in the sale of Promenada Mall, in the largest real estate transaction in 2014.
Biriş Goran is a business law firm with 35+ attorneys founded in 2006 and provides business legal services with a particular focus on tax, real estate, corporate, antitrust/competition, litigation, labor law and insolvency. Biriş Goran and its team has been consistently ranked as one of the leading firms in Romania by such guides as Chambers Europe and European Legal 500.
