Appeninn Nyrt. has successfully closed its first foreign acquisition. The company has signed an agreement with Cherry MidCo B.V. to acquire office buildings C, D, E and F of Wiśniowy Business Park in Warsaw, Poland. The transaction is an important milestone in the implementation of Appeninn Plc's business strategy, revised in February 2022, to develop the company's core real estate portfolio through new acquisitions and modernisation investments.

On 10 March 2023, Appeninn Plc signed a share purchase agreement with Cherry MidCo B.V. for the acquisition of office buildings C, D, E and F in Wiśniowy Business Park (WBP). The transaction marks the company's first entry into the foreign market. Appeninn Nyrt. has selected the Polish real estate market after a detailed market and professional analysis, as it is considered a more mature and lower risk market in the region, but with significant potential for further development. With the foreign transaction, the company will further diversify its portfolio.

The Wiśniowy Business Park office complex is located close to the centre of Warsaw, making it easily accessible by public transport. Building C was completed in 1998, Building D in 1999, Building E in 2000 and Building F in 2007. All buildings underwent extensive renovation in 2017. The property is surrounded by almost 2.5 hectares of green space, making the area suitable for recreation and leisure. The 4 buildings have a total gross lettable area of 39 534 m2 and 1 272 parking spaces. The tenant mix of the office park consists of a stable mix of international and local companies such as Bank Pekao S.A., Johnson & Johnson. Poland Sp. Z O.O., Janssen-Cilag Polska Sp. Z O.O. and National Westminster Bank Plc.

The current transaction is part of the implementation of the company's revised business strategy in February 2022, whereby Appeninn Plc sold its entire tourism portfolio last year to use the funds freed up to strengthen the revenue generating capacity of its portfolio through the acquisition of high-quality office buildings in the SEE, CEE regions.

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