Housing investor SATO and OP Vuokrakoti Ky have signed a purchase agreement under which SATO has acquired OP Vuokrakoti Ky’s entire housing portfolio. The transaction includes eight recently built apartment buildings and a total of 602 rental homes. The parties have agreed not to disclose the purchase price. The portfolio’s economic occupancy rate exceeded 97 per cent last year. The properties acquired by SATO are located in Helsinki, Vantaa, Järvenpää, Tampere, Turku, Lahti and Kuopio.
“Due to oversupply in the market, we have paused the construction of new rental apartments and explored other opportunities for profitable growth. The transaction signed today fits our objectives extremely well. The properties, built in the 2020s, are mainly located in major growth centres in good locations and complement our already extensive portfolio very well. We warmly welcome our new residents to SATOhomes,” says Antti Aarnio, CEO of SATO Oyj.
The seller entity was established in 2020, when YIT and the OP Rental Yield Special Investment Fund signed an agreement to set up a company investing in rental apartments. At the same time, YIT agreed to sell eight apartment building projects to the company for rental use. The investment value of the projects was approximately €130 million, and YIT’s share in the joint investment was 40 per cent. According to OP Vuokrakoti Ky’s 2024 financial statement, the portfolio’s fair market value was €121 million.
The housing companies included in the transaction are Asunto Oy Lahden Marleena (Lahti Citycenter), Asunto Oy Vantaan Pilotti (Aviapolis, Vantaa), Asunto Oy Kuopion Klaava (Kuopio Citycenter), Asunto Oy Turun Fabrikin Facto (Ratapiha/Pohjola, Turku), Asunto Oy Turun Fabrikin Frami (Ratapiha/Pohjola, Turku), Asunto Oy Tampereen Herrainrinne (Ranta-Tampella), Asunto Oy Helsingin Trissa (Jätkäsaari, Helsinki) and Asunto Oy Järvenpään Basso (Järvenpää Citycenter).