BSTDB helps finance One Tower project in Bucharest

The Black Sea Trade and Development Bank (BSTDB) has extended a €50 million loan to One United Tower to help finance the development of business infrastructure in Romania.

The funds will be put towards the costs of “One Tower”, a green office building which is part of the newly developed One Floreasca City mixed-use complex located on a formerly abandoned industrial site in Bucharest. The total cost of the project is €54 million. Part of the loan will be used to refinance project costs incurred so far and funded by the shareholders. 

The One Tower building, due for inauguration in the first half of the year, is part of a larger urban rejuvenation project involving also a residential component.