Belgian student housing specialist Xior has signed an agreement to buy the so-called 'Annadal site' in Maastricht, the Netherlands in a share deal worth a total of nearly €63 mln.
The buildings on this former hospital site have recently been converted into 723 student rooms with shared facilities, rented to Maastricht University and Stichting Studenten Huisvesting through long-term leases. In addition there are other facilities that are rented out to care institutions and (para)medical professionals.
The site is close to two of Xior's other properties in Maastricht (the Carré building and Bonnefanten College).
The deal - reflecting an initial yield of approximately 6.2% - is partly being financed through the issue of new Xior shares for a total of €30 mln. The balance will be paid in cash.
