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Nov 2020
Sole Global Coordinator & Joint Bookrunner
€ 54.7 million
Accelerated Bookbuild Offering

Xior Student Housing

Sole Global Coordinator and Joint Bookrunner

Kempen & Co acted as Sole Global Coordinator and Joint Bookrunner in the successful €54.7 million capital increase of Xior Student Housing

Transaction highlights

  • The transaction comprised 1,093,611 new shares (c. 5.48% of outstanding share capital) at an issue price of EUR 50.00, which represents a discount of only 3.32% to the dividend adjusted closing price on the day prior to announcement
  • The transaction was launched on the back of a limited wall-crossing exercise, covering a range of new and existing investors who provided full coverage of the deal during this process
  • The orderbook was skewed towards existing shareholders and dedicated real estate specialists with the top 10 orders taking c.60% of the deal
  • Xior intends to use the net proceeds from the capital increase to pursue a balanced financing structure and to strengthen its equity capital so that it can continue to implement its growth strategy

Company description

Xior Student Housing is the first Belgian REIT specialized in student housing properties located in Belgium, the Netherlands, Spain and Portugal. Xior has been active in this market since 2007 and offers high-quality, reliable student housing for students looking for a place to study, live and enjoy life under optimal conditions, where students will feel at home right away. Xior offers a variety of units, ranging from rooms with shared facilities to fully equipped independent studios.

Kempen & Co Real Estate credentials

  • Kempen & Co has advised on Real Estate transactions in 14 different countries in Europe since 2017
  • This transaction underpins our leading position in European Real Estate ECM since 2011


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