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Monaco Towers

Bucharest, Romania

Type of Project: Residential

SECURE Management, GP
Investor: SECURE Investments II

  • Monaco Towers (200+ apartments) was partly owned (50 apartments) by SECURE Investments II, sold to SPDI and went into an insolvency procedure initiated by the acquirer of the property loan (BCR NPL package) APS of Prague in 2018
  • SEC Mgmt using both its extensive European network (reaching out to APS’ owner, Deutsche Bank) and its legal capabilities in Romania, assisted the equity holder to defend against all liquidation actions and safeguard the consequent equity dilution, having put together and executing a business plan to the benefit of the equity holder
  • SEC Mgmt assisted SPDI to re-gain full control over the property and sell all the residential units, generating substantial added value
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