Belgian REIT Xior Student Housing has acquired a site with three new buildings comprising a total of 247 student housing units in Amsterdam in a share deal worth around €47 mln.
The buildings were completed earlier this year and offer a total of 247 units ranging from 23 m2 to 52 m2, with 94 parking spaces. The site is located near public transport and is undergoing a comprehensive upgrade through various redevelopment projects.
Two-thirds of the buildings, which provide a range of options for students and young starters, are already rented out. Under the deal, Xior has also received a 12-month rental guarantee from the vendor.
The initial yield comes to around 5.6%.
Xior has previously worked with the developer for this project in Delft, Breda and The Hague.
Christian Teunissen, CEO of Xior, commented: 'This acquisition adds three brand new buildings to the portfolio that will immediately contribute to our results. It also launches Xior’s operations in the largest student city of the Netherlands, making this a perfect addition to the further expansion of Xior's growth and operations.'