Real estate consultancy company Colliers Romania prepared the valuation report for the collateral securing the 80.5 million euro financing obtained by One United Properties from UniCredit Bank, a facility that may be increased to up to 140 million euro.
The funds will be used to complete the One High District and One Lake Club residential developments in Bucharest, as well as to support the first tranche of the share buyback programme approved by the company’s shareholders in October 2025. In terms of both size and purpose, the transaction ranks among the most significant recent bank financings in Romania’s residential sector.
The financing has a complex structure and involves One United Properties S.A., together with two of its subsidiaries, One High District S.R.L. and One Lake Club S.R.L. UniCredit Bank S.A. holds several roles in the transaction, including mandated lead arranger, facility agent, security agent and account bank. According to the current report submitted to the Bucharest Stock Exchange, part of the financed amounts will be used to repay intra-group loans and/or to grant intra-group loans to the Company in order to finance the first tranche of the Programme related to the Public Purchase Offer/Offers approved under Resolution no. 79 of the Extraordinary General Meeting of Shareholders dated 15 October 2025, while the remaining amount will be used to cover the outstanding construction costs related to both developments.
”A financing of this size confirms that Romania’s residential market is entering a more mature stage, in which access to capital, project quality, development liquidity and execution discipline are becoming just as important as end-buyer demand. For Colliers, valuing large residential projects for financing purposes requires an integrated understanding of the market, from prices and sales pace to costs, phasing, permitting, risks and the project’s ability to remain liquid in a more cautious economic environment. Our collaboration with One United Properties reflected precisely this need for rigour, transparency and integrated analysis, at a time when the diversification of financing sources is becoming increasingly important for real estate development in Romania”, explains Gabriel Blăniță, Director Valuation & Advisory Services at Colliers Romania.
The financing comes at an important moment for One United Properties, which currently has the largest volume of projects under development in its history. As of 31 March 2026, the company had 4,154 residential units and 45,500 square metres of commercial and office space under construction, with a gross development value of more than €1.6 billion. At the same time, the company maintained a moderate level of indebtedness: the loan-to-value ratio stood at 34%, 2 percentage points below the level recorded at the end of 2025, while net debt amounted to RON 1.1 billion, equivalent to 17% of total assets of RON 6.5 billion, according to data published by the company.
”This financing supports the completion and delivery to clients of the One High District and One Lake Club projects, while also allowing us to continue a prudent financial strategy based on the complementary use of available capital sources. For a listed developer, financial discipline, transparency and the ability to attract long-term bank financing are important elements in maintaining the pace of development and strengthening the trust of investors, partners and clients”, says Andra Hanu, Head of Financing at One United Properties.
In recent years, Romania’s residential market has been marked by an increasingly limited supply of new homes, against the backdrop of administrative bottlenecks, a lower number of building permits and high development costs. Since the second half of last year, the pressure has also become increasingly visible on the demand side, with buyers paying closer attention to budgets amid declining purchasing power, high inflation and the fiscal measures adopted to reduce the budget deficit. Under these conditions, project liquidity is becoming increasingly important for both developers and banks.
In such transactions, the role of valuation is to provide a clear picture of the project, not only from the perspective of asset value, but also in terms of its ability to be completed, sold and financially supported. Banks are paying increasing attention to sales pace, remaining costs, execution risks, project liquidity and absorption scenarios, while developers need credible data to support access to financing. In this context, valuation, advisory and market analysis services are becoming an important tool for large residential projects, particularly in a market where financing decisions are more carefully calibrated.
Colliers consultants underline that the residential market is going through a period of adjustment, in which the differences between projects are becoming more clearly defined. Demand remains supported by the need for new housing, pressure in major cities and interest in modern living, but buyers are more attentive to budgets and project quality. At the same time, new supply remains limited, while projects that can demonstrate a solid sales pace, quality, efficiency and a strong financial structure are better positioned to attract both buyers and financiers.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a global diversified professional services and investment management company operating through three industry leading businesses: Commercial Real Estate, Engineering, and Investment Management. With greater than a 30-year track record of consistent growth and strong recurring cash flows, we scale complementary, high-value businesses that provide essential services across the full asset lifecycle. Our unique partnership philosophy empowers exceptional leaders, preserves our entrepreneurial culture, and ensures meaningful inside ownership – driving strong alignment and sustained value creation for our shareholders. With $5.7 billion in annual revenues, 24,000 professionals, and $109 billion in assets under management, Colliers is committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com.
About ONE UNITED PROPERTIES
ONE UNITED PROPERTIES (BVB: ONE) is the leading green investor and developer of residential, office and mixed-use real estate listed on the Bucharest Stock Exchange, Romania. Since 2007, the company has been developing and managing a portfolio of landmark properties, with a focus on urban regeneration and real estate investments. One United Properties integrates a real estate development and management platform that covers the entire operational cycle, from land selection and acquisition to design, construction, and management. The business model combines real estate development with recurring revenue-generating assets, with a strategic focus on transforming underutilized urban areas into well-integrated modern communities that create long-term value. One United Properties is an innovative, award-winning company recognized for sustainability, energy efficiency, design, and wellness. In 2025, the Financial Times recognized One United Properties as the ninth fastest-growing company in Europe over the past decade in its Top 300 ranking of “Europe’s Long-Term Growth Champions”.