SATO acquires 113 rental homes from Patrizia

SATO Corporation, Press Release, 5th December 2016 at 12:50 pm

SATO's rental housing stock increased today by 113 apartments as the company acquired apartments located in Espoo, Vantaa and Tampere, Finland, from a fund managed by Patrizia.

Urbanisation is an enormous trend of change. The successful outcome of it will, to a great extent, determine Finland's future level of prosperity. Job creation takes place in big cities, and the supply of housing in growing cities must be sufficient to enable the mobility of labour. SATO's strategy is to increase the supply of rental homes in the Helsinki Metropolitan Area, Tampere and Turku - the areas where the demand for new homes is the highest.

Vice President Antti Aarnio from SATO:
             
- The three buildings acquired are situated in SATO's growth areas, and their locations are a good match to our customers' requests. For example, the building in Tampere is located by the coming tram route close to the university, while the Vantaa apartments are within a walking distance from a train station.

- We'll be meeting the new SATO residents in December to discuss topics relevant to each building as well as SATO's operations with them. We want to get to know the residents and also introduce ourselves to them so that keeping in touch will be easy whatever the situation in the future.

For more information please contact:

SATO Corporation
Antti Aarnio, Vice President, [phone] or [phone]

www.sato.fi/en

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.

 

---

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SATO Oyj via Globenewswire