The properties sold in this transaction are located in Hämeenlinna, Jyväskylä, Lahti, Oulu, Vihti and Ylöjärvi. The lease agreements will be transferred to the buyer as they are in the transaction.
The divestment carries out the Sato strategy to focus housing investments on the Helsinki Metropolitan area and its commuter area along the main railway line as well as on Tampere and Turku and their surrounding municipalities. The properties now sold are mostly located outside the growth centres covered by the strategy.
“In line with our strategy, we’re focusing our housing portfolio on Finland’s largest growth centres in areas with good access to public transport and services. We want to have a close presence in the everyday lives of our residents in these cities. Over the past couple of years, we’ve been building our service organisation and, for example, expanded our House Expert operating model in the Helsinki Metropolitan Area, Tampere and Turku,” says Sato President and CEO Antti Aarnio.
Heimstaden Bostad was advised by H&H Consulting, Krogerus, Newsec, and PwC in the transaction.
Catella was the advisor to Sato.