The Belgian company’s takeover bid offered shareholders 2.3427 euro per share, valuing the Spanish company at 58.5 million euro. The offer has now been liquidated.
REIT Student Properties Spain (SPS) was established in 2016 and it has been listed at BME Growth since 2017. It was the first REIT specialised in student residences to be listed at the Spanish Stock Exchange. It currently owns three student complexes located in Madrid, Seville and Malaga with a total of 725 beds.
One of the student residences, located in the barrio de Salamanca, in Madrid, opened in 2018 with 146 beds and one other is located in the barrio de Teatinos, in front of the University of Malaga’s campus in Malaga, with 221 rooms. The group’s third student residence is located in Avenida de la Palmera, in Seville, with 309 rooms and it is currently at the final stages of construction and it is expected to be operational before the start of the 2021-2022 school year.
Xior entered the Spanish market in March 2019 and currently owns five student residences in the country. A year ago, it closed the purchase of a student residence in Granada from Amro Estudiantes.
Xior closes new acquisition in Malaga
Xior announced the purchase of a new student residence in the barrio de Teatinos, in Malaga, from British company Amro Real Estate Partners. During the first two years, Amro will continue operating the 229-room student residence. With the SPS student residence in Malaga, Xior will now own a total of 450 rooms in the Costa del Sol’s capital.
Following the operation with SPS, Xior will reach 2.400 rooms within the Spanish market and 17.500 rooms globally.