One United Properties, a Romanian residential developer has entered the Bucharest office investment market by purchasing the North Gate office building in Pipera. The property was bought at a public auction for €16.8 million. The developer of the complex, Creativ Invest Grup, filed for insolvency earlier.
North Gate offers nearly 20,600 sqm of leasable space. The building is fully let to Renault which is expected to relocate once its new headquarters, currently under construction, is completed in 2019.
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