Appeninn Nyrt., a real estate investment company, has successfully sold three of its interests, generating HUF 784 million in total. The company, which is listed in the Premium category of the Budapest Stock Exchange, disposed of its stake in the industrial property at Egyenes út 4, Budapest, a small share in the office at Kelenhegyi út 43 and a commercial property in Biatorbágy. The portfolio clean-up and the proceeds from the successful divestments will provide the basis for the realisation of the company's acquisition plans.

Appeninn Vagyonkezelő Holding Nyrt. In the largest deal, the company sold its 5,160 square metre commercial property in Biatorbágy for nearly HUF 396 million. Furthermore, the company decided to sell its wholly-owned subsidiary, which wholly owns the 1,867 sqm industrial property located at Egyenes út 4, in the XIV district of Budapest. This transaction is expected to close at the end of the year; the parties agreed on a purchase price of approximately HUF 293 million. Another of Appeninn's interests in the capital, a smaller share in the office building at 43 Kelenhegyi út in the 11th district, was sold for approximately HUF 95 million.

According to Tamás Bernáth, CEO of Appeninn Nyrt., the clean-up of the real estate portfolio itself, as well as the proceeds from successful sales, support further growth and acquisition plans. The company plans to replace assets outside the focus areas of its business with higher-end, higher-value, income-producing properties in the coming period, in line with its strategic objectives to further increase shareholder value.