Acquisition of Bonnefanten College in Maastricht successfully completed

Reconversion project of 257 independent student rooms. Total investment value of approximately EUR 34 million

Xior Student Housing NV, the Belgian real estate investment trust (BE-REIT) specialised in student housing in Belgium and the Netherlands, has successfully completed the acquisition of "Bonnefanten College", in Maastricht, the Netherlands' most international student city. This registered national monument will be redeveloped into a student complex, with 257 independent student rooms and common areas. The total investment value (after reconversion) will be approximately EUR 34 million.

Earlier this year, Xior signed an agreement for the acquisition of "Bonnefanten College" in Maastricht1, for which the previous owner already obtained an environmental permit. This planned acquisition has now been successfully completed on schedule.

This former monastery is a registered national monument and will be redeveloped into a student complex with 257 independent student rooms and common areas. The property is located at Tongerseweg 135 in Maastricht, near Xior's other monumental student complex in Maastricht, the Carré building. The total investment value (after conversion) will be approximately EUR 34 million2 and the project has an expected initial return of approximately 6.25%. 

"Maastricht by far is the Netherlands' most international student city, [..]. For several years already, Maastricht University has chosen to invest in English-language education, demonstrating that internationalisation is engrained in its DNA."3

With the acquisition of Bonnefanten College, Xior is adding another distinctive property to its portfolio in order to offer additional quality student housing in the centre of the (international) student city of Maastricht near various educational institutions, where there is still plenty of demand for qualitative student housing, especially for international students.

"An increase [in the number of students] is forecast for all 12 university cities, and for the city of The Hague. In Delft, Maastricht, Leiden and Wageningen, explosive growth rates of up to 30% are expected."4

Christian Teunissen, CEO of Xior: "With this acquisition, we add yet another stunning reference project to our portfolio, strengthening our presence in this student city and allowing us to respond even better to the demand for qualitative student housing, while also creating economies of scale."

This acquisition strengthens Xior's position in Maastricht and takes its number of student rooms in this student city to 557. Xior expects to start using the building in September 2019.

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1 See also our press release of 30 May 2018.
2 In line with the fair value, as determined by the company's independent valuation expert.
3 Source: Nederland als Europese talent hub - ongekende kansen voor Nederlandse universiteitssteden. Class of 2020 (2018).
4 Source: Spotlight | Student Housing - The Netherlands, Savills World Research | Q2 2018.
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For more information please contact:
Xior Student Housing 
Mechelsesteenweg 34, box 108
2018 Antwerp
www.xior.be
                                           
Christian Teunissen, CEO
Frederik Snauwaert, CFO
Arne Hermans, CIO
T +32 3 257 04 89
info@xior.be

Xior Investor Relations
Sandra Aznar
Head of Investor Relations
ir@xior.be
T +32 3 257 04 89

For more information on the rental of student rooms, please contact:
Xior Student Housing – Maastricht
T +31 88 6000 185 | E maastricht@xior.nl

 

Xior Student Housing NV

 

Christian Teunissen

CEO

Frederik Snauwaert

CFO

Arne Hermans

CIO

Sandra Aznar

Head of Investor Relations

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About Xior Student Housing NV

Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain, Portugal, Germany, Poland, Denmark and Sweden. Within this property segment, Xior Student Housing offers a variety of accommodation, ranging from rooms with shared facilities to en-suite rooms and fully equipped studios. Since 2007, as owner-operator, Xior Student Housing has built high-quality, reliable student accommodation for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student immediately feels at home.

Xior Student Housing has been accredited as a public RREC under Belgian law since 24 November 2015. Xior Student Housing's shares have been listed on Euronext Brussels (XIOR) since 11 December 2015. On 31 December 2024, Xior Student Housing held a property portfolio worth approximately EUR 3.3 billion. More information is available at www.xior.be.

Xior Student Housing NV, a Public RREC under Belgian law (BE-REIT)
Frankrijklei 64-68, 2000 Antwerp, Belgium
BE 0547.972.794 (Antwerp Register of Legal Entities, Antwerp Division)

Disclaimer

This press release contains forward-looking information, projections, convictions, opinions and estimates produced by Xior in relation to the expected future performance of Xior and of the market in which it operates ('forward-looking statements'). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers can guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in Dutch and has been translated into English and French. In case of discrepancies between the different versions of this press release, the Dutch version will prevail.

Contact

Frankrijklei 64-68 2000 Antwerp, Belgium Belgium

+32 3 257 04 89

info@xior.be

www.xior.be