Belgian student housing specialist Xior has announced plans to raised up to €179 mln of new equity through a capital increased aimed at financing new projects.
Xior, a real estate investment trust, will issue 4.2 million new shares which will be open for subscriptions from 25 February to March 4. The proceeds will be used to finance the acquisition signed this month of two assets in Malaga, Spain and Leeuwarden, the Netherlands, for roughly €42 mln. The properties will be redeveloped to offer around 412 units by summer 2021 and 2023 respectively.
Xior owns a portfolio of student housing assets approaching €2 bn in value across four European countries.
