Xior lands on top location in Namur

Xior Student Housing NV, the Belgian real estate investment trust (BE-REIT) specialised in student housing in Belgium, the Netherlands, Spain and Portugal, has concluded an agreement for the development of a new student complex including at least 206 units in total (still to be optimised in the current permit process) in Namur, close to the University of Namur and the station. Following the proposed development, this transaction will have a total investment value of approximately EUR 20 million at least.

Xior has concluded an agreement for the development of a new student complex to be built in the heart of Namur, close to various educational institutions such as the University of Namur and Hénallux, and the station.

Baltissimo NV and Promiris NV, a developer with whom Xior has previously worked (for the project on Oudergemlaan in Etterbeek as well as Xior's entry into Portugal), are collaborating in a joint venture Baltissimo NV – Promiris NV and will be responsible for the development. Xior will acquire the shares of the real estate company concerned following the provisional completion of the project which, according to the current schedule, is expected around Q2 2022 (or one year before, at the very earliest). Xior is hereby taking its first steps in Wallonia and adding a new student city to its portfolio. Namur is characterised, in particular, by a highly outdated and dispersed range of student housing whereby the demand for new, well-situated and high-quality student accommodation is very high. The Pôle Académique Namurois has around 19,000 students and 3,700 academics and staff members in the Walloon capital.

The total investment value (upon 100% acquisition of the shares, after completion) will be approximately EUR 20 million at least (upon 100% acquisition of the real estate company's ownership, which will happen at once upon completion) and the project has an expected average initial yield of approximately 5.9%. The development will be delivered in turnkey condition and includes a student complex with at least 176 self-contained studios and 30 unfurnished rooms with shared facilities based on a design by architectural firm, Montois. The complex will also house a retail facility (e.g. a snack bar), storage for 113 bikes and two parking spaces. This particular implementation of the project may be optimised further still, as part of the current permit process, in which case, the expected investment value will also be adjusted.

At present, this student property is expected to be operational for the academic year starting in September 2022. Promiris will provide initial leasing support during the first academic year.

Christian Teunissen, CEO of Xior: "We are delighted to be taking our first steps in the French-speaking part of the country, in a true Walloon student city with about 20,000 students and a high demand for good quality and modern student housing."

__________________
_{For more information about this transaction please contact:
Xior Student Housing NV
Mechelsesteenweg 34, box 108
2018 Antwerp
www.xior.be}

_{Christian Teunissen, CEO
Frederik Snauwaert, CFO
info@xior.be
T +32 3 257 04 89}

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