Xior Student Housing has signed an agreement on the acquisition of two new strategic student buildings in Delft and The Hague, expanding its real estate portfolio on the Dutch market to further roll out its growth strategy.
This takeover, with a global investment value of approximately €24m according to the current estimated rental values totalling €1.357m, entails the acquisition of 100% of the shares of two real estate companies with the transfer expected to complete by mid-2017. A guarantee for the lease of 100% of the units on closing is being provided.
The two properties comprising 190 units will involve redevelopment as well as new construction. The property in The Hague is located on Waldorpstraat and looks like a single structure, but actually consists of two completely separate buildings with 72 independent studio apartments. The property in Delft is located at Antonia Veerstraat 1-15 and will consist of 118 units. It is part new construction and part redevelopment.
Christian Teunissen, CEO of Xior: "With this acquisition we will be able to consolidate our presence in the existing markets of The Hague further, and we will also expand to a large university town such as Delft. It strengthens Xior's position in the Netherlands as part of the planned growth strategy."
