Nor Real Estate S.R.L. has obtained a EUR 21 million loan and related security package from OTP Bank Romania to support the development and leasing of Phase I (B1/B2) of the @Expo office project.
Nor Real Estate S.R.L. is a Romanian subsidiary of Aternor, a Belgium-based real estate developer company listed on the Euronext Brussels market.According to the Atenor website, the @Expo project is a “smart business campus in Bucharest, comprising three buildings totaling approximately 54,721 square meters of office and commercial spaces. The project is located next to the RomExpo Exhibition Park in Bucharest, soon to be connected to the new Metro Line 6, and already enjoys excellent connectivity with public transportation. Completed office buildings have been leased to renowned tenants such as Deutsche Telekom and GameLoft, with new lease agreements signed in 2023 with Securitas and Caterpillar. The occupancy rate in the first phase of the project has exceeded 60%.”
On August 17, 2023, Atenor announced the completion of the project’s reception process, marking the conclusion of the second phase.
The Albota Law Firm advised Nor Real Estate on the deal.
Image source: Atenor.eu
