M&A Activity • May 11, 2016
M&A Activity
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PRESS RELEASE
11 May 2016 – Embargo until 17:40 (CET)
Regulated information
Antwerp, Belgium – 11 May 2016 – Xior Student Housing NV, the Belgian real estate investment trust (BE-REIT) specialised in student housing in Belgium and the Netherlands, has signed an agreement on the acquisition of a student building to be developed near Erasmus University Rotterdam. This transaction has an investment value of approximately 30 million euros based on the estimated rental values, and is subject to a number of conditions. If these conditions are met on time, the takeover is planned for September 2017. This will add a brand-new property in a prime location to Xior's portfolio.
Following the recent agreement on the acquisition of two new student buildings in Delft and The Hague1 , Xior is continuing its growth strategy by entering into an agreement on the acquisition of a student building to be developed near Erasmus University Rotterdam in the Netherlands.
This acquisition has an investment value of 30,260,000 euros (furnished building), and is based on an estimated annual rental value of approximately 1,815,600 euros, calculated according to the Dutch points system2 . The transaction is subject to a number of conditions.
1 See our press release of 20 April 2016.
2 The Netherlands have imposed a national points system for property valuation ("woningwaarderingsstelsel" or "WWS") that sets the maximum rent based on a number of factors, such as square footage, quality and location.
11 May 2016 – Embargo until 17:40 (CET)
Regulated information
If all conditions are met, Xior will add a brand-new building to its portfolio in September 2017 at the earliest (depending on when all conditions are met). The building consists of 280 independent student units between 20 m² and 39 m² on eight floors, and common areas such as a bicycle area and roof terrace. The property will have a prime location near Erasmus University Rotterdam in this bustling city.
The seller provides a one-year rental guarantee to Xior starting from the transfer of the property.
Christian Teunissen, CEO of Xior: "This project is a perfect match for Xior's 'multi-country - multi-city' approach and its goal to further expand its portfolio in existing and new major student towns, including Rotterdam."
Xior Student Housing NV Mechelsesteenweg 34, bus 108 2018 Antwerp www.xior.be I [email protected]
Christian Teunissen, CEO Frederik Snauwaert, CFO Arne Hermans, CIO T +32 3 257 04 89
Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialised in the student housing segment in Belgium and the Netherlands. 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 housing for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student will feel at home right away.
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 March 2016, Xior Student Housing had a property portfolio worth approximately 206 million euros. More information is available at www.xior.be.
Xior Student Housing NV, Public RREC under Belgian law (BE-REIT) Mechelsesteenweg 34, bus 108, 2018 Antwerp (Belgium) BE 0547.972.794 (RLE Antwerp, Antwerp department)
11 May 2016 – Embargo until 17:40 (CET)
Regulated information
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 is active ('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 declines any obligation or guarantee to publicly update or review forward-looking statements unless it is 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.
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