Belgian student housing specialist Xior said on Friday that its capital increase was fully subscribed, allowing it to raise €179 mln of new equity aimed at financing new projects.
Xior, a real estate investment trust, issued 4.2 million new shares with plans to use the proceeds to finance the acquisition of two assets in Malaga, Spain and Leeuwarden, the Netherlands. The properties will be redeveloped to offer around 412 units by summer 2021 and 2023 respectively.
’The entire Xior team wishes to express its gratitude to all investors for making this fourth public capital increase another success. Five years after our IPO, we are particularly proud that we have been able to count on our loyal investors all these years,’ said CEO Christian Teunissen.
‘The high take-up of 92.62% confirms the confidence in Xior's growth story and operational model, as well as in the resilience of the student market in times of crisis. The realisation of this transaction is another important milestone in the further expansion of the company, which allows us, together with the entire team, to continue to confidently roll out our growth in the Benelux and Iberia.’
Xior owns a portfolio of student housing assets approaching €2 bn in value across four European countries.