Xior exercises purchase option to acquire 526 self-contained student rooms in Amsterdam and Utrecht

Xior Student Housing NV, the Belgian real estate investment trust (B-REIT) specialised in student housing in Belgium and the Netherlands, has signed a purchase agreement exercising its purchase option on two student complexes located in Amsterdam and Utrecht, thereby strengthening its position in two of the top three student cities in the Netherlands. The transaction has an expected total investment value of approximately EUR 95 million, and will involve the acquisition of 100% of the shares in the relevant real estate companies. The actual acquisition, which remains subject to due diligence and a number of customary conditions precedent is planned to take place in the autumn of 2018.

Xior has signed a purchase agreement exercising its purchase option on two sites located at Karspeldreef in Amsterdam and at Rotsoord in Utrecht, respectively.¹

This will enable Xior to continue its growth strategy in the Netherlands and strengthen its position in two of the top three student cities in the Netherlands, where the need for quality student housing is very high.

Xior will acquire the properties by buying 100% of the shares in the relevant real estate companies. The price of the shares in the companies is based on the investment value of the property held by the relevant companies, which is derived from the rental values.

The expected total investment value will be (partly in function of further adjustments during the
development of the project, of the number of units and the expected rental values) approximately EUR 95 million, while the expected initial return will be approximately 5,8%. Xior expects both projects to generate revenue as from September 2018.

“[…] three of the Netherlands’ four largest cities are faced with substantial shortages: over 10,500 units in Amsterdam, almost 4,000 in Utrecht and approximately 4,750 units in Rotterdam. To solve the current shortage, a large number of student units will have to be added to the stock.”²

Student complex in Amsterdam – 320 units
The Amsterdam site, with a long term lease, is located at the Karspeldreef, near Amsterdam Bijlmer Arena Station where the (re)development of 320 independent student units in total is planned. The result will be the largest student complex in the Xior portfolio.

This office building reconversion project consists of 6 connected buildings, each with its own facilities (such as an elevator). The building will also comprise 170 parking spaces.

Student complex in Utrecht – 206 units
The site in Utrecht is located at Rotsoord, where 206 self-contained student units will be developed. The residential spaces will be complemented by a wide range of (commercial) activities, such as restaurants, education and small businesses. The site is located near the Utrecht Vaartsche Rijn train, bus and tram station.

In addition to the self-contained residential studios, which will be spread over two buildings, the so-called 'Klop’ building will also be renovated, restoring its original style. The ‘Klop’ building will be given a commercial purpose, and will therefore contribute to the atmosphere and liveliness of the site. The complex will also offer parking facilities.

Christian Teunissen, CEO of Xior: "The acquisition of these sites will further strengthen Xior's range in two of the largest student cities in the Netherlands. Both projects are perfectly in line with our strategy to further expand our portfolio to include quality, large-scale student housing projects."

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^{1 See also our press release dated 30 May 2018.
2 Source: Spotlight | Student Housing – The Netherlands, Savills World Research | Q2 2018 – loosely translated.}
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For more information about this transaction 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</sub>

_{For more information on the rental of student rooms, please contact:}
^{Xior Student Housing – Amsterdam
E amsterdam@xior.nl
T +31 88 6000 180}

^{Xior Student Housing – Utrecht
E utrecht@xior.nl
T +31 88 6000 188}