Legal Ground has advised the APS Group – acting through APS Credit Fund SICAV subfunds Rhapsody and Rhapsody II – on financing Skylight Residence's acquisition of a 100,000-square-meter site in Bucharest's Obor area. Ionescu Sava advised the borrower.
The APS Group is an Alternative Asset Management Firm with assets under advisement with nominal value exceeding EUR 11 billion.
According to Legal Ground, "the property, formerly occupied by the Aversa factory, presents significant redevelopment potential. Skylight Residence utilized the loan to pay the last tranche of EUR 12.5 million out of the EUR 17.3 million total price payable to Aversa."
Moreover, the firm reports that "InteRo Property Development, owned by the Canadian Topolinski investors family, and the real estate developer of NorthLight Residence, New Confort City, Pajurei 3 Residence and SunLight Residence announced it will commence the development of a new mixed-use project on the site, featuring residential, commercial, and office spaces."
The Legal Ground team included Partner Mihai Dudoiu.
The Ionescu Sava team included Partner Raluca Nastase.
