Hungarian real estate investment company Appeninn Nyrt. made two significant acquisitions in Poland during 2026, substantially increasing the value of its portfolio. In February, the company purchased a 56,000 sqm logistics centre in Tarnów, leased long-term by Goodyear. Subsequently, the DEKADA acquisition in July added seven retail parks and four shopping centres comprising approximately 53,000 sqm of leasable area, with a 95% occupancy rate and annual gross rental income exceeding €10 million.
As a result of these transactions, the value of Appeninn's Polish property holdings reached €170 million, covering all three of the company's strategic segments: office, logistics and retail. Following the DEKADA deal, the group's total portfolio grew to over 230,000 sqm and surpassed €290 million in value.
Rental income for the first half of 2026 rose 5% to €11.339 million, driven primarily by the Tarnów logistics acquisition. Although a significant strengthening of the forint weighed on consolidated post-tax profit, the company's direct contribution reached €7.487 million, adjusted EBITDA came to €6.913 million, and the adjusted EBITDA margin remained above 60%.
"Over the past four years, we have built a healthy, diversified property portfolio and a considerable regional presence. Our rental revenues have nearly tripled alongside strong and stable operational profitability, and the integration of this year's acquisitions gives further momentum to growth," said Szűcs Györgyi, chief executive of Appeninn Nyrt.
Appeninn, listed in the Premium category of the Budapest Stock Exchange and operating as a regulated real estate investment company since 2024, says it will continue to assess the profitability and utilisation of its properties while actively seeking new acquisition targets in Hungary and across the Central and Eastern European region.
