SATO sells 294 rental homes to Municipal Housing Ltd (KAS)
2 December 2016
SATO Corporation, Press Release, 2nd December 2016 at 2:25 pm
SATO has today sold 294 rental homes to Municipal Housing Ltd (KAS). The apartments are located in Oulu, Jyväskylä and Pirkkala, Finland. Most of the properties have been financed by State-subsidised housing loans (ARAVA loans), so the transactions had to be concluded at a price approved by the authorities.
Vice President Antti Aarnio from SATO:
- The demand for rental homes is growing all the time and we're increasing our supply of rental homes in areas with the greatest need for housing. We're targeting our investments at apartment building units in the Helsinki Metropolitan Area, Tampere and Turku. Consequently we divest homes located in the other areas.
- It was important for us to find a buyer for these apartments that operates professionally and takes good care of its residents. KAS is a well-known player in these areas, and the residents' tenancy relationships will continue as normal.
For more information please contact:
Antti Aarnio, Vice President, p. +358 201 34 4200 or +358 40 164 70 52
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. SATO holds roughly 25,700 rental apartments 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.