Xior Student Housing NV, the Belgian real estate investment trust (BE-REIT) specialising in student housing in Belgium and the Netherlands, has acquired Verbeekstraat Campus student complex, consisting of 134 self-contained furnished units. The land has been allocated under a perpetual ground lease paid-up until 2057. The seller is Reggestaete Maarssen B.V., part of the Reggeborgh Group.
The site was renovated and converted into student facilities in 2016 and is fully leased. The student complex has two common roof terraces, a common meeting place, washing and drying facilities and two bicycle areas that can be locked. It has 107 parking spaces and 42 external storage areas.
The property is situated in a prime location opposite the leading Leiden Bio Science Park, where institutions such as the university and college of Leiden are based. The site benefits from the strong transport links, including Leiden Central Station.
The overall investment value of the building in question is approximately €12.7m, with an expected initial yield of approximately 6.3%. The transferor provides a rental guarantee for the student units for a period of one year.
Christian Teunissen, CEO of Xior: "Xior's acquisition of this renovated, fully leased student complex is a great addition to the portfolio, which is again expanding its student range in Leiden, a city with both a great history and a vibrant atmosphere."