Helsinki, Finland, 2015-08-31 11:05 CEST (GLOBE NEWSWIRE) -- SATO Corporation, Investor News, 31st August 2015 at 12:05
SATO Corporation has today bought 379 rental homes from ICECAPITAL Housing Fund I Ky. Most of these are small homes in the Helsinki Metropolitan Area. The value of the transaction totals €68 million.
Vice President Tuula Entelä from SATO:
- This acquisition in an excellent contribution to our objective of increasing SATO’s housing assets, particularly in the Helsinki Metropolitan Area. We are sourcing homes that are in the highest demand over the long term. This means small homes that are in good condition and close to good transport links and services.
- The majority of the homes acquired today are located very close to an existing metro station or a station under construction. Current residents will be offered a safe tenancy, convenient housing and many customer benefits by SATO.
SATO has invested strongly in the 2000s to increase the supply of rental apartments. It has invested a total of around two billion euros to provide a home for around 25,000 people.
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
SATO is one of Finland's leading corporate investors in housing. SATO’s aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. All told, SATO holds roughly 24,400 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 2014 were €312.3 million, operating profit €191.3 million and profit before taxes €152.2 million. SATO's investment properties have a value of roughly €2.7 billion.
