Chief executive of Sage to step down later this year

Mr Sater joined Sage in 2020. Under his leadership, the group has grown to deliver more affordable new homes than any other provider for the past four years, through its subsidiaries. This includes homes delivered via Sage Housing (Sparrow Shared Ownership), prior to its sale.

Last year, Mr Sater oversaw the sale of the RP, along with more than 3,000 shared ownership homes, to the Universities Superannuation Scheme as part of a £405m deal. The RP was then renamed Sparrow Shared Ownership.

During his tenor, he also presided over the set-up of Sage’s housing management service, which now manages all of its 18,500 occupied homes, with a further 4,000 in the pipeline.

The group went through its first in-depth assessment from the Regulator of Social Housing in December 2023, in which its three RPs at the time, Sage Homes RP, Sage Rented and Sage Housing, all achieved G1*/V2* ratings.

Sage said Mr Sater now feels that “having proven the value and impact of private investment in affordable”, it is “the natural moment for a new chief executive to take the reins”.

Mr 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 chief executive 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.”

Alison Thain, chair of Sage, said: “In a relatively short space of time, Sage Homes has become an excellent example of the positive impact private investment can have on addressing the undersupply of high-quality, affordable housing in the UK. Mark has been central to this success, and he should be proud of the lasting legacy he leaves.”

Gemma Kataky, managing director of real estate at Blackstone and a board member at Sage, thanked Mr Sater for his “outstanding leadership” of Sage Homes.

“He joined an early-stage Sage during COVID lockdown and has led the group to become the largest provider of newly built affordable homes in England for the fourth consecutive year,” she said.

“He has built an exceptional business and team, who will continue to deliver and manage high-quality new homes to our customers. We look forward to continuing to work with Mark this year as we find a successor.”