SATO sells 760 rental homes to Y-Foundation

24 August 2015

SATO Corporation has today sold 760 State-subsidised (ARAVA) rental apartments to Y-housing, a company owned by the Y-Foundation. The apartments are mainly located in Jyväskylä, the Lahti region and municipalities surrounding the Helsinki Metropolitan Area.

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.

For more information please contact:

SATO Corporation
Tuula Entelä, Vice President, Helsinki Region and St Petersburg 
phone +358 201 34 4007 or +358 400 612 914
Antti Aarnio, Director 
phone +358 201 34 4200 or +358 40 164 7052