Xior Student Housing NV announced that it is to acquire two purpose-built student accommodation (PBSA) operational sites. They are located in Lisbon, Portugal and Kraków, Poland, with a total of 670 units/1,053 beds.
These acquisitions are realised entirely through a contribution in kind against the issue of new shares. The total contribution value is approximately €80m, which strengthens Xior’s equity by that same amount.
PBSA in Portugal
The site in Lisbon is a brand new PBSA, completed in 2022 and located in Campo Pequeno. It is a prominent residential area known for its vibrant culinary scene and culture.
In addition, the residence is located a stone’s throw from Lisbon’s business and tourist districts. It is in an exceptional location, close to several renowned universities such as Instituto Superior Técnica, Universidade Nova de Lisboa, and Cidade Universitária, the largest university campus in Lisbon.
The site is also close to numerous restaurants, shopping centres, cinemas and good public transport links. This results in an average occupancy rate of 98% from day one for this popular student residence.
The scheme includes 380 beds divided into a mix of fully furnished one-bedroom studios, two-bedroom flats and en-suite individual rooms. Unit sizes range from 12m² to 27m².
The residence also offers a wide range of amenities and common areas, including study rooms, gym, cinema, private dining room, yoga room, bike storage, laundry room and a courtyard. The building also has a BREEAM-in-use certification labelled Very Good.
Lisbon is the largest student city in Portugal. In the academic year 22/23, 446,028 Portuguese students were enrolled in higher education, of which approximately 38%,116,405, are in Lisbon.
The country is also one of the most popular destinations for international students pursuing higher education. It has a perfect combination of prestigious universities, an affordable lifestyle, excellent public transport and a pleasant climate.
Taking into account the number of students enrolled in universities in Lisbon and the current PBSA supply, the provision rate is only 2.2%. Including the expected number of beds in the pipeline, the provision rate rises to 3.3%.
However, this is still significantly low compared to more mature European cities. Overall Lisbon is one of the least provisioned cities in Europe in terms of PBSA supply.
PBSA in Poland
LivinnX is a modern student residence in Kraków, completed in 2019 and located in the Zabłocie district, a rapidly developing area known for its vibrant cultural and artistic scene and right on the Wisła River.
The residence is located right by the Andrzej Frycz Modrzewski University of Kraków – the largest private university in Kraków with 7,600 students), and it has easy access to Kraków’s main universities.
LivinnX has 290 self-contained units with 673 beds spread over one-bedroom studios and clusters with two to four residents. The clusters are small flats designed to be both stylish and practical. Features include modern kitchens with high-quality appliances, spacious living and relaxation areas and smart technologies to enhance convenience and safety.
This residence also offers a wide range of communal facilities to ensure a great living experience for its residents. These include a fitness centre, yoga room and sauna, rooftop terrace with panoramic views and communal gardens, game room, study and co-working spaces, secure parking and 24/7 security and local residence manager.
