Romanian developer One United Properties has announced its Board of Directors approved a strategic framework for phased entry into the US residential real estate market, by completing its first land acquisition in the Nashville metropolitan area.
The company has completed its first land acquisition in Franklin, Williamson County, Tennessee. The land has a total area of 4.53 acres (18,332 sqm), with two additional adjacent plots under contract totalling 1.86 acres (7,527 sqm). The total plot of 6.39 acres (25,859 sqm) will allow for the development of 42 townhouses and a clubhouse, with a total buildable area of approximately 107,500 sqf (9,987 sqm). The development will be called One Liberty Pike and will have a gross development value of $60 million.
"After consolidating our position in Bucharest and initiating selective steps outside the Romanian capital, we have continued to evaluate international markets through the same disciplined approach. The US is the first reviewed market that combines meaningful scale, liquidity and an investor and developer friendly environment, especially in the two areas we have prioritised, Nashville and Miami," said Victor Căpitanu, Co-founder and Co-CEO of One United Properties. "This first acquisition is a measured step to establish a presence on the American market and build practical market knowledge, not a broad geographic expansion."
The US is the first international market that meets the company's investment requirements, given its size, transaction depth, high liquidity and a development environment supported by strong institutional participation and relatively predictable processes. The company will initially focus on the Nashville metropolitan area as its primary execution market, with a first residential development identified in Franklin, Williamson County.
