Xior buys student residence in Madrid; continues Iberian expansion

The total expected investment value is approx. EUR 85.4 million for 528 beds and land with development potential for approx. 200 additional beds

Xior Student Housing NV, the Belgian public regulated real estate company (RREC) specialised in the student housing segment in Belgium, the Netherlands, Spain and Portugal, announces an agreement, subject to suspensive conditions, on the acquisition of the Leonardo da Vinci student residence located on the campus of UEM (Universidad Europea de Madrid) in Madrid (Villaviciosa de Odón).

The up and running residence of 464 units (528 beds), which is strategically located on the university’s campus, comes with an additional development potential for approximately 200 extra beds. The total expected investment value (including estimated development costs) amounts to ca. €85.4 million, for which Xior will acquire 80% of the real estate company that holds and operates the residence and also manages and develops the land. The current owner and manager of the university, who is also the seller, will retain the remaining 20%. For Xior, this represents an important step in the continued rollout of its growth plan on the Iberian Peninsula. With this acquisition the announced investment volume in Spain and Portugal will reach ca. €139 million, more than half of the stated goal of at least €250 million when Xior entered Iberia in March 2019.

Xior Student Housing is proud to announce that it has signed an agreement for the acquisition of the ‘Leonardo da Vinci’ student residence located on the Villaviciosa campus of the Universidad Europea de Madrid. Universidad Europea (UE) is the second largest private university group in Spain, with Universidad Europea de Madrid (UEM) being the largest private university within this group. UE offers a wide range of programmes, including leading programmes in medicine and medical specialisations, social sciences and engineering/architecture. There are more than 23,500 enrolled students, 11,500 of whom are housed at the Villaviciosa campus.