Highlights

• Premium location inside a €150M mixed-use development in the heart of Bucharest business district 

• Award-winning developer, architects and interior design (4 projects completed)

• Financial projection: 15.1% IRR* in the first ~5 years

• Bucharest hotel investment volume +182% in 2025 vs. 2024; highest growth in CEE

The Idea

Urban Spaces Built To Rent, designed by ADNBA Architects, Cristian Corvin Studio and Andrei Butușină introduce a new way of thinking about living: a temporary home within a permanent community.

What makes this project different is that it brings contemporary architecture, thoughtful interiors and the ease of a well-lived urban stay into a temporary living-stay format through 32 apartments within Urban Spaces Aviației. Investors gain access to a project with staged capital return and long-term upside potential.

Investment Opportunity

Urban Spaces Built to Rent offers investors exposure in a €150 million mixed-use development in Aviației, which is Bucharest's leading business-district.

Unlike traditional investments that rely on a single future exit, Urban Spaces BTR is structured to generate returns in stages. Approximately 70% of the invested capital is expected to be returned at the end of the development phase, while the remaining investment continues to generate value through the operational income generated by renting out the portfolio of 32 serviced apartments.

Return

For Growceanu's investors planned €1.3 million investment, approximately €900,000 is expected to be returned by 2032, with the remaining ownership continuing to benefit from recurring rental income and long-term appreciation.

Phase 1 – Development & Partial Capital Return

Once construction is completed and the residential units are sold the investment returns 15.1% IRR*.

Phase 2 – Built-to-Rent Operations

Following completion, investors retain exposure to a portfolio of 32 serviced apartments and 13 underground parking spaces managed by hospitality professionals. They are expected to generate approximately €100,000 in annual EBITDA for Growceanu’s Investors, according to a study realized by EST Hospitality, a consultant that works with hotel chains such as: Radisson, Ibis, Hilton.

In simple terms, if you invest €10,000 in the summer of 2026 you get: 

• ~€7000 back in cash by the end of 2031 (Phase 1)
• a stake in an income-producing real estate asset which generates ~€805 in EBITDA return, after 2031, on average (Phase 2)

Note: The above example does not constitute a guarantee of future results. 

*IRR (Internal Rate of Return) is the annualized rate of return generated over the holding period of an investment.