Belgian real estate investment trust Xior Student Housing has exercised its purchase option to acquire 526 student rooms across two properties in Amsterdam and Utrecht.
Xior’s total investment for the two assets comes to €95 mln.
‘The acquisition of these sites will further strengthen Xior's range in two of the largest student cities in the Netherlands,’ commented Christian Teunissen, CEO of Xior.
‘Both projects are perfectly in line with our strategy to further expand our portfolio to include quality, large-scale student housing projects.’
The buildings are located at Karspeldreef in Amsterdam and at Rotsoord in Utrecht. The first property will see the development of 320 independent student units. It will become Xior's biggest student accommodation, including six connected buildings and 170 parking spaces.
The asset in Utrecht is planned to host 206 students. It is spread over two buildings and it will be renovated, restoring its original style.