Appeninn Holding's portfolio expansion in Buda has reached the finishing line, after the signing of the sale and purchase agreement for the office building in the third district, which the real estate company announced its intention to acquire in November 2019. The acquisition of the property, which offers more than 6,000 square metres of modern office space, will increase Appeninn's portfolio in this category by around 20 percent.

20 percent portfolio expansion on the home stretch

Appeninn Nyrt. has signed a sale and purchase agreement with. a wholly-owned subsidiary of Appeninn, BERTEX Real Estate Distribution Ltd., for the office building in the third district, which the listed company had announced its intention to purchase last November. Under the agreement, Appeninn Nyrt. will acquire, through its subsidiary, the modern office building in Montevideo Street, one of the most frequented areas of the Buda area. The office building has a high income generating potential due to its advantageous location, thus ensuring a stable income for the company.

The acquisition of the office building will increase Appeninn's portfolio in this category by approximately 20 percent. Real estate acquisitions are one of the pillars of Appeninn's growth strategy: the current transaction is one of the first elements of this construction.

According to Tamás Bernáth, CEO of Appeninn, the year 2020 has started with significant acquisitions at Appeninn, and the company intends to maintain this momentum throughout the year, further boosting its acquisition activity and the portfolio clean-up processes already initiated by the company to sell properties outside its focus areas.