C&W Echinox has advised River Development on the sale of The Light One to Uniqa Group
Real estate consultancy company Cushman & Wakefield Echinox has advised the real estate development company River Development, one of the most experienced domestic developers, in the selling of The Light One office building in Bucharest to the Austrian group Uniqa in the largest real estate transaction in Romania of the year to date.
Completed in 2019 and with a leasable area of 21,653 square meters and BREEAM Excellent certified, The Light One is one of the most important office buildings in the Center – West area of the Capital, with a diverse portfolio of local and international tenants and part of a large mixed urban regeneration project, The Light – which will include two more office buildings and a high quality residential complex. The building has a total built area of over 150,000 square meters, of which almost 100,000 square meters leasable office space.
The Light One is the second office project sold by River Development in Bucharest, after the sale of the Riverplace property from the Sema Park project, to another Austrian group, Europolis (now CA Immo), more than a decade ago, a transaction also intermediated at the time by Tim Wilkinson of DTZ Echinox (now Cushman & Wakefield Echinox).