Xior Student Housing has acquired a controlling stake in the Spanish student housing company Student Properties Spain SOCIMI (SPS). SPS is a real estate investment vehicle focused on investing in student housing structured under the SOCIMI regime and is listed on Spain’s BME Growth market. SPS currently owns a portfolio consisting of three state-of-the-art residences situated at prime locations in Madrid, Malaga and Seville, the latter to be delivered in Q3 2021. All three are among the most popular student cities in Spain. Together these residences represent more than 725 beds and are operated under the HUBR brand. Xior will now be the principal shareholder of Student Properties Spain and the company will remain listed on the BME and retain its Socimi status.
Xior has also acquired a new student residence in Malaga’s Teatinos district (229 rooms) from developer Amro Real Estate Partners. The residence has been delivered on schedule and Xior has a triple net lease agreement with current operator Amro Estudiantes during the initial two years. In one fell swoop, along with the HUBR Malaga asset (also located in the Teatinos district), Xior will now operate 450 rooms spread over two residences in this vibrant and upcoming student city with over 35,000 students. Thanks to these two complementary assets, Xior builds scale and also diversifies her offer in the city of Malaga.
Bastiaan Grijpink, Country Manager Iberia: “We are proud of the Xior team for successfully bringing our first public takeover across the finish line. It is great to see that we have built an organization that is capable of completing large portfolio acquisitions in an efficient and professional manner. The newly acquired residences fit perfectly in our strategy in terms of size, location and quality. The total number of rooms operated under the Xior flag in Spain will now increase from 1,700 to 2,400 rooms, which allows us to benefit from growing economies of scale. Finally, this transaction allows us to bring aboard the HUBR team. They have done a wonderful job and we look forward to welcoming them to the Xior family.”
