Romanian developer and investor One United Properties is continuing its international expansion by taking a stake in a flagship scheme in the United States. In partnership with Fortune International Group, the firm has joined the development of the 'ORA by Casa Tua' project in Miami's Brickell financial district. For the company, which is listed on the Bucharest Stock Exchange, this participation marks its entry into the Florida property market, following previous investments made in the greater Nashville area in Tennessee.
Total development costs for the mixed-use residential and commercial tower are expected to exceed the one billion US dollar mark. One United Properties, together with co-investors, is investing a sum of 43 million US dollars into the project company. This step is being taken predominantly through a Romanian entity controlled by One, as well as through US partner ERA5 Real Estate, owned by David Flusberg.
Strategic partnership in the South Florida market segment
Fortune International Group is acting as the lead developer of the high-rise. Founded by Edgardo Defortuna, the company looks back on more than forty years of history in South Florida's prime segment and brings its own sales and marketing network to the table. The cooperation is complemented by the hospitality brand Casa Tua, which was established in Miami in 2001 by Miky and Leticia Grendene. The firm operates restaurant, hotel and club concepts in locations including Miami Beach, Aspen, New York, Paris and Capri. ORA represents the first residential tower under this brand name.
- —Project volume exceeding one billion US dollars in total development costs
- —Equity contribution of 43 million US dollars by ONE and ERA5 Real Estate
- —Prime location in the Brickell district with development plans already approved
- —First-time implementation of a residential tower under the Casa Tua lifestyle concept
Orientation of the US growth strategy
Victor Căpitanu, co-founder and co-CEO of One United Properties, stressed that Miami sits at the heart of his firm's US growth strategy. The aim, he stated, is to establish a lasting presence in the US market through selective investments and to maintain the disciplined approach applied in their home market, securing long-term value for shareholders.
Edgardo Defortuna also emphasised that One United Properties shares the high quality standards demanded by the Miami market. He noted that the investment represents a clear signal of Brickell's sustained international appeal. David Flusberg of ERA5 added that, following months of reviewing various opportunities, the venture proved convincing above all due to its prominent location, the planning permissions already in place, and substantial pre-sale figures.
