Appeninn Nyrt. has purchased Dávid House in Budapest for €7m through its acquisition of the holding company Plaza House. Dávid House is located on Andrássy road and offers 2,400 sqm of leasable space. The historic property was transformed into a class A office building in 2001. Appeninn hopes the investment’s annual yield will top 7 percent. To help finance the purchase, the holding company Konzum, which acquired a majority stake in Appeninn last year, is providing a €2m loan.
