Finland's Sato adds 140 apartments to portfolio

Finnish residential investor Sato has added 140 units located in the southwest of the Nordic country to its portfolio.

The total investment volume came to €20 mln.

Sato acquired 77 rental homes completed in the 1990s and located in the centre of Turku from the Turku University Foundation and 54 rental homes to be completed in the Länsikeskus area in late summer 2016 from NCC. A further nine rental homes were bought in a property to be completed in autumn 2016 in the Kupittaa district.

Following the completion of the investments, Sato will have almost 1,200 rental homes in Turku, with 63 of these under construction.

In total the company owns 24,200 rental homes in Finland’s largest urban growth centres and in St Petersburg. The portfolio is valued at €2.6 bn.