Sage Homes’ chief executive to step down after five years

The chief executive of Sage Homes has announced that he will be leaving his role later this year after half a decade.

Mark Sater is stepping aside for a new boss to ‘take the reins’ after ‘having proven the value and impact of private investment in affordable housing’, said a spokesperson for the for-profit registered provider.

Blackstone-backed Sage was set up by global real estate investor Regis in 2017 and is funded by investment giant Blackstone.

During Sater’s leadership, Sage has delivered more than 18,500 homes for affordable and social rent and shared ownership since it was set up by Regis in 2017. This means it has delivered one of the largest totals of homes by registered providers during this period.

Sater supervised the set-up of Sage’s housing management service, which oversees all its 18,500 occupied homes, with a further 4,000 in the pipeline.

The former Ben Sherman director also last August presided over the sale of 3,000 Sage homes to pension fund Universities Superannuation Scheme.

In 2023, Sater led the organisation through its first in-depth assessment (IDA) by the Regulator for Social Housing, achieving the top ‘G1’/’V1’ ratings for governance and financial viability.

Sater said: “After a fantastic and extremely happy and fulfilling five years helping Sage Homes become England’s top provider of newly built affordable homes, I have decided to step down as CEO sometime later this year.

“I am grateful for all the support the staff, Board and Investors have given me over this time and look forward to continuing to support them in my current role as we make this important transition.”

Sater will continue in his current role until the board and investors appoint a successor. Sage said it will begin its search shortly.