Xior Student Housing (“Xior”) is the first Belgian public regulated real estate company (“B-REIT”) with a specific focus on student housing in Belgium and the Netherlands. Xior succesfully refinanced its historic real estate portfolio and a series of additional real estate acquisitions on 11 December 2015 by way of a combination of 87.8 million euro IPO proceeds complemented by 72.7 million euro bank financing.

Eubelius advised Xior on the legal, tax and corporate structuring of the IPO. Furthermore, Eubelius assisted Xior with the bank refinancing, the Belgian acquisitions and the B-REIT accreditation.

The Eubelius team was led by Lars Van Bever, Wouter Claes, Joris De Wolf and Tim Van Moorhem.

The Xior IPO in figures:

* Top 20 globally of all IPOs in 2015 in the real estate sector
* No. 3 globally of all real estate holding company IPOs in 2015
* No. 3 of all real estate holding company IPOs on Euronext over the last 10 years
* 3,513,466 shares allocated for a total amount of 87.8 million euro, complemented with bank credit facilities of 110 million euro
* 2.1x oversubscribed, with a strong demand of Belgian retail investors and European institutional investors
* 41.1% of the shares offered, have been allocated to Belgian retail investors
* The initial real estate portfolio, with a fair value of 196 million euro comprises 37 properties in Belgium and 11 in the Netherlands. Commitments have been entered into to acquire three additional properties in Belgium with a fair value of 10 million euro in the near future
* On the day of the IPO, the initial real estate portfolio was created through 12 Belgian mergers, 2 Dutch mergers, a capital increase by way of contribution in kind of shares, a Belgian-Dutch cross-border merger, 2 share deals, 5 Belgian asset deals and 7 Dutch asset deals