River Development and UNIQA Real Estate GmbH have completed the transaction regarding the acquisition of The Light One office building, with a total leasable area (GLA) of 21,653 square meters.

"The Light One is a development landmark for office buildings in Bucharest and we are proud of what we have achieved. Closing this transaction today is a success for us, especially since it took place in a time marked by challenges. Selling The Light One office building will allow us to further develop the other projects we have in various stages of development in Sema Parc and The Light.” - says Ion Rădulea, founder and CEO of River Development, the developer of the Sema Parc project.

The Light One is a Class A office building, located in Bucharest on 6Q Iuliu Maniu Boulevard. It has a built area of 32,500 square meters and a structure of 2 underground floors, 10 floors and a technical floor. The building is a green building, and is certified with the BREEAM Excellent rating. It has a portfolio of premium tenants, and among the companies based in The Light One are: Regina Maria, with the largest pediatric center in the country and Kinetic, which provides physical therapy and medical recovery services for children and adults, Banca Transilvania, Comdata, Vego Holding, ON Semiconductor, Manpower Group, Sweat Concept.

The Light One is the first built of the whole The Light ensemble, which will include, at the end of the project, three distinct office buildings - The Light One, The Light Two and The Light Three, to which is added the residential segment The Light Home and related facilities.

"The Light is an outstanding development with further development phases to come. Being able to secure The Light One for UNIQA and our customers in a quite challenging market environment makes us confident to also reach our further goals in Bucharest and the CEE region." – states Thomas Erdmann, GM of UNIQA Real Estate GmbH.

The legal counsels in the transaction were Biris Goran SPARL (for the seller) and Schoenherr (for the buyer), and the real-estate counsels were Cushman & Wakefield Echinox.

River Development is a real estate developer with Romanian capital, with over 15 years of activity on the local market, supported by a team of professionals with extensive experience in planning, developing and managing large real estate projects. River Development develops the real estate projects Sema Parc (located on Splaiul Independenței - approx. 1,000,000 square meters total area) and The Light (located on Iuliu Maniu Boulevard, approx. 150,000 square meters total built area), both located in the central western part of the capital and at different stages of development.

River Development has over 150,000 square meters of office space in its portfolio and has delivered over 38,000 square meters in the last two years to the new class A buildings, within the Sema Parc project, through the three class A buildings - Brussels, Paris and Berlin.

The London and Oslo buildings with delivery in Q4 2021 will add another 31,500 sqare meters (leasable area) of class A offices within the Sema Parc project.

In its second project in the portfolio - The Light, River Development has already delivered the first phase - The Light One, a Class A office building with a leasable area of 21,653 square meters.

All newly developed or under construction projects comply with BREEAM standards for green buildings and have the objective of "Outstanding" in use.

The UNIQA Group is one of the leading insurance groups for its core markets of Austria and Central and Eastern Europe (CEE). Around 23,500 employees and exclusive sales partners serve around 15.5 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region. Their Real Estate Asset Manager, UNIQA Real Estate Management GmbH, manages more than €2.8 billion assets in real estate in Austria and the CEE region. (Source: River Development)