Successfull first takeover in Spain for Xior

LIVING
Didier Van Den Eynde

Xior student housing has made its first takeover in Spain, taking control, via a public tender, of all the shares, of the Student Properties Spain company. This company has in its portfolio three buildings located in Madrid, Seville and Malaga (the last to be delivered in the coming months). All three residences are operated under the HUBR brand, which will now join forces with the Xior team.

Bastiaan Grijpink, Country Manager Iberia, comments on this acquisition: “We are proud to have successfully brought 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 into 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, which allows us to benefit from growing economies of scale.

Previously, Xior had acquired another student residence in Malaga with 229 rooms from developer Amro Real Estate Partners. The residence was delivered on schedule and Xior has a triple net lease agreement with current operator Amro Estudiantes during the initial two years.