Stratulat Albulescu Attorneys at Law assisted Futureal, a Hungarian real estate investment company, with the acquisition of over 15,000 square meters of land near Poligrafiei Boulevard to build a housing estate. The transaction was worth 3.7 million Euros and was completed on June 14.
The real estate developer plans to build approximately 400 apartments in multiple buildings consisting of 11 floors. The first phase is scheduled to be finished in 2019.
Futureal is one of the leading developers and investors in Central Eastern Europe. Futureal previously succesfully developed another residential project in northern Bucharest.
Stratulat Albulescu Attorneys at Law assisted on all matters of the transaction from the negotiation of terms to the closing, which included negotiating the term sheet, preparing the due diligence report, and drafting the transaction documents.
Silviu Stratulat, Managing Partner, and Otilia Petrescu, Partner, both of whom specialize in real estate transactions, led our team. Cristina Man, Senior Associate, Andreea Gheorghiu, Associate and Alex Bumbu, Associate also assisted in the work.
Stratulat Albulescu Attorneys at Law is a dynamic Romanian law firm, providing legal advice in all business sectors and all areas of business law in Romania, including real estate, having represented many domestic and overseas groups in the field. Our team works in close co-operation with highly-respected law firms throughout Europe and elsewhere and has significant experience in cross-border transactions. Our highly experienced lawyers provide legal advice in the English, French, Italian, Romanian, Spanish and German.