SATO and OP Vuokrakoti Ky have signed a purchase agreement covering OP Vuokrakoti Ky’s entire housing portfolio. Ownership of eight apartment buildings and a total of 602 rental homes have been transferred to SATO. The parties have agreed not to disclose the purchase price.

With this transaction, the homes and their valid rental agreements have been transferred to SATO.

“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 percent last year. We are very pleased with the completion of the transaction,” says Antti Aarnio, CEO of SATO Oyj.

The housing transaction supports SATO’s 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,” says Aarnio.

The properties acquired by SATO are located in Helsinki, Vantaa, Järvenpää, Tampere, Turku, Lahti and Kuopio. The company now owns approximately 27,500 rental homes, providing housing for around 47,000 residents, mainly in Finland’s largest growth centres in the Helsinki metropolitan area, Turku and Tampere.