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Finland: Housing investor and operator SATO has bought 602 rental homes across eight apartment buildings from OP Vuokrakoti Ky for an undisclosed sum.
The properties acquired by SATO are located in Helsinki, Vantaa, Järvenpää, Tampere, Turku, Lahti and Kuopio. The company now owns around 27,500 rental homes, providing housing for 47,000 residents, mainly in Finland’s largest growth centres in the Helsinki metropolitan area, Turku and Tampere.
“Our acquired housing portfolio is of exceptionally high quality: The properties are new, energy-efficient and in excellent condition. The portfolio’s economic occupancy rate exceeded 97 per cent last year. We are very pleased with the completion of the transaction,” said Antti Aarnio, CEO of SATO Oyj.
SATO says the transaction supports its strategy for profitable growth and further strengthens the company’s position as a trusted, long-term housing provider in major growth centres.
“Due to oversupply in the market, construction of new rental apartments has been paused on our part, so we have explored other opportunities for profitable growth. The transaction signed today aligns excellently with our objectives. The properties, built in the 2020s, are mainly located in large growth centres in good locations and complement our already extensive portfolio very well. We warmly welcome our new residents to SATOhomes,” added Aarnio.
Highlights:
- Housing investor SATO has bought 602 rental homes across eight apartment buildings from OP Vuokrakoti Ky for an undisclosed sum
- The properties acquired by SATO are located in Helsinki, Vantaa, Järvenpää, Tampere, Turku, Lahti and Kuopio
- The company now owns around 27,500 rental homes, providing housing for 47,000 residents
