Appeninn Plc. started the year with a great momentum

2020
February
26
News

Subsequent to the successful completion of the transaction, the office building located in Montevideo Street was transferred to the portfolio of Appeninn Plc., the purchase of which was completed by the conclusion of the related sale and purchase agreement at the end of January. With the acquisition of the property, the Company’s portfolio in this segment was expanded with rentable office spaces of more than 6,000 square metres. The acquisition is closely aligned with the strategy of the real estate company according to which it intends to expand its property portfolio with quality properties.


The Company expanded its portfolio with a high-value office building

Appeninn Plc. has completed the transaction related to the purchase of the modern office building located in a frequented area of District 3. The company concluded a sale and purchase agreement in January related to the purchase of the office building of an area of more than 6,000 square metres located in Montevideo Street. With the conclusion of the transaction, Appeninn’s portfolio in this category grew by almost 20%. The purchased property has a high revenue generating capacity due to its excellent location, ensuring a stable revenue stream for the group on the long run.

The property purchases constitute a key pillar of the growth strategy followed by Appeninn Plc.: this transaction was realised as one of the first elements of this development. The portfolio cleansing processes related to the sale of the properties falling outside of the scope of the focus areas, already started by the listed company will further support the expansion of the quality property portfolio.

The Company plans to continue this dynamic growth; the Company aims at purchasing more and more high income-generating quality properties, further strengthening its market position.