Sweden's Bader buys 21% stake in Finnish firm for €178m

Swedish property Group Balder has taken a 21% stake in Finnish real estate firm Sato for a price of SEK 1.67 bn (€178 mln).

Sato is a residential property landlord with a portfolio of 25,000 units valued at €2.5 bn. About 80% of the housing portfolio is located in the Helsinki region.

Balder, which is already present in the Danish market, made its first acquisition in Finland last year.

'Demand for housing remains very strong in Finland, allowing for the continued development of Sato's business,' said Balder's CEO Erik Selin.

Listed on the Stockholm stock Exchange, Balder owns SEK 37 bn of assets at year-end 2014.