STC Partners secures financing from Banca Transilvania for second phase of Quartier Azuga project

Real estate developer STC Partners obtains financing from Banca Transilvania for the development of phase 2 of the residential project Quartier Azuga, located near the Tei area in Bucharest, worth 10 million Euros.

“Securing the Phase 2 development credit prior to the completion of Phase 1 is a strong indicator of our project’s success and the capability of our development team. This continued partnership with Banca Transilvania ensures the timely completion of Quartier Azuga, we warmly thank the support of our professional partners from Banca Transilvania”, said Andrei Stefan, Partner, STC Partners.

Recently, STC Partners started the development of Phase 2 of Quartier Azuga, with a total investment value of over 15 mil. Euros. This phase includes three buildings with 115 apartments, ranging from 2-room to 4-room apartments, as well as duplex-type units set by the lake shore, with estimated completion by the end of 2025. Phase 1 construction works at Quartier Azuga are well underway, a few months away from handover to clients.

“Banca Transilvania continues to support high-quality green real estate projects like Quartier Azuga. Our further investment in the development of this new green residential community underscores our belief in the project’s quality and its contribution to the Bucharest landscape and life quality”, Cosmin Călin, Executive Director of Large Corporate, Banca Transilvania.