Vice President Tuula Entelä from Sato:
"At Sato we’ll continue to focus our rental homes supply on the Helsinki Metropolitan Area, which is the target of the highest rates of migration and has the strongest demand for rental homes. In our operating areas we concentrate on locations with good transport links and access to a well-functioning service network in the immediate vicinity."
"We’re reducing our ownership in areas with a slower increase in the demand for rental homes over the long term. With today’s transaction we wanted to transfer the homes to a player with strong competence in the provision of rental homes. The Y-Foundation’s long track record in providing affordable homes will guarantee the residents will have a great landlord in the future too."
Sato has also bought 379 rental homes from Icecapital Housing Fund I Ky. Most of these are small homes in the Helsinki Metropolitan Area. The value of the transaction totals €68 M.
"This acquisition in an excellent contribution to our objective of increasing Sato’s housing assets, particularly in the Helsinki Metropolitan Area. We are sourcing homes that are in the highest demand over the long term. This means small homes that are in good condition and close to good transport links and services.
"The majority of the homes acquired today are located very close to an existing metro station or a station under construction. Current residents will be offered a safe tenancy, convenient housing and many customer benefits by Sato."
Sato has invested strongly in the 2000s to increase the supply of rental apartments. It has invested a total of around two billion euros to provide a home for around 25,000 people.