The purpose of the credit facility is to finance the construction of One Technology District, a turnkey building which One United Properties is developing to serve the needs of Infineon Technologies for a period of 15 years, starting in 2026. The financing includes a loan to be used for the construction of the development in the amount of €28.5 million, which will be increased to an investment loan of €37.5 million once the building is completed. The company also received a €4 million VAT line. The maturity of the credit is June 2033. The financing was brokered by Erste Group Bank AG acting as Agent, Original Lender and Hedge Counterparty, and Banca Comercială Română S.A., acting as VAT Lender, Security Agent and Account Bank.
”One Technology District, an office and research lab campus built to the highest standards of sustainability, is the kind of project that confirms the attractiveness of the local market for global players. It is developed based on cutting-edge sustainable principles that will allow the building to operate completely gas-free, thus positioning it among the most sustainable developments in Europe. One Technology District aims to be the largest semiconductor research and development center in South-East Europe. This investment is a confirmation for the potential of the Romanian market and supports our strategy to focus on the development of fully leased and pre-leased green office projects,” said Andrei Diaconescu, co-CEO One United Properties.
One United Properties is developing this modern office hub for Infineon Technologies, a Frankfurt Stock Exchange-listed company and world leader in semiconductors. The developer has already started construction works, and One Technology District is the first office project in its portfolio without a gas connection: the development will benefit from a geoexchange system that will fully cover tenants' heating and cooling needs and minimize environmental impact while maximizing efficiency. This innovative approach not only significantly limits the carbon footprint of the building, but also allows for the elimination of conventional heating systems, thus creating additional recreational space for Infineon employees. The building will also be equipped with rooftop solar panels and heat recovery units. All these modern and sustainable systems, as well as LEED Platinum certification, will ensure outstanding energy efficiency.
One Technology District represents the first turnkey development in the local office market since the pandemic, and the first to be signed for a 15-year term. The deal totals €57 million (excluding VAT) and represents one of the largest pre-let agreements ever recorded in the local office market.
One Technology District is located in the Dimitrie Pompeiu area of Bucharest, which is traditionally an office area, well-connected to public transportation and the metro station, close to shopping and leisure facilities as well as the A3 highway. In addition, this office hub will offer 280 parking spaces.
