SATO's rental housing supply increases by 1,255 homes

1 April 2016

SATO Corporation, Company Announcement, 1st April 2016 at 1:03 pm

Through a transaction concluded today, SATO Corporation has acquired the shares of SVK Yhtymä Oy.The transaction will result in the transfer of 1,255 rental homes mainly completed in the 2000s to SATO. Responding to the highest demand in rental housing in terms of their size, the average floor area of these homes is 55 sqm.

President and CEO Saku Sipola from SATO:

- At SATO we want to offer our customers homes in areas with the highest demand.Population growth rates and the need for rental housing are the highest in the Helsinki Metropolitan Area and Tampere, which is where most of the apartments now acquired are located. 

- The tenancies of the residents of the homes now bought by us will continue, and the residents will receive SATO customer cards with customer benefits. We'll visit all the properties during the spring to listen to the residents' thoughts of their homes and houses.

SATO is a rental housing provider that has already been operating with a sustained and professional approach in the Finnish housing market for 75 years.SATO is growing through the acquisition of existing housing stock and developing new-build rental homes on SATO-owned sites as well as through cooperation with construction companies.To finance this growth, SATO has diversified its financing.It has been agreed in conjunction with today's transaction that the sellers will subscribe to SATO Corporation's shares in a directed share issue taking place during the spring.

For more information please contact:
Saku Sipola, President and CEO, phone +358 201 34 4001 or +358 40 551 5953
Tuula Entelä, Vice President, phone +358 201 34 4007 or +358 400 612 914

www.sato.fi

SATO is one of Finland's leading rental housing providers. SATO's aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. All told, SATO holds roughly 23,600 rental homes in Finland's largest growth centres and in St Petersburg.

In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. *We operate profitably and with a long-term view.*We increase the value of our housing property through investments, divestments and repair work.

SATO Group's net sales in 2015 were €323.4 million, operating profit €196.5 million and profit before taxes €159.4 million. SATO's investment properties have a value of roughly €2.8 billion.