Xior Student Housing (“Xior”) makes a huge leap forward in its international expansion plan by signing an agreement with Basecamp Group (“Basecamp”), European Student Housing Fund I (“ESHF I”) and European Student Housing Fund II (“ESHF II”) to acquire a 939 MEUR² portfolio of attractive, high-quality, PBSA assets operated by Basecamp. This unique portfolio consists of 5,341 units spread over 11 newlybuilt, state of the art assets (8 operational and 3 projects under development). All residences are situated in top-tier student cities in Germany, Poland, Denmark and Sweden. Basecamp is a specialised developer and operator of student housing with objective to create smart student living spaces perfectly located to universities.

Christian Teunissen, CEO of Xior: "From Xior’s start in 2007, we have continued to grow and professionalise. The company rapidly evolved from a small family business into a true professional student housing player. With this milestone acquisition of Basecamp, we will continue our growth story by adding not only 3 new countries, but also 11 state of the art, sustainable assets which are a perfect fit to our existing portfolio and future vision and will further strengthen our position as the market leader in continental Europe. I am confident that the combined expertise of our teams will help bring Xior to the next level.”

Armon Bar-Tur, Executive Chairman of Basecamp: “From its inception, Basecamp has been a pioneer in the regions in which it operates, with high quality student accommodation and a community led experience at its core. We outpace our competitors through our in depth understanding of the GenZ audience that we attract. Xior and Basecamp will revolutionise the PBSA market by bringing together our complementary portfolios of properties. We will offer students across Europe the opportunity to live in inspiring rooms and life-enriching shared spaces. Our teams are delighted to come together and continue the exciting evolution of PBSA.”

Post transaction, EPRA earnings per share are expected to increase from 2.00 to 2.07 EUR/share in 2022 and from 2.20 to 2.38 EUR/share in 2023.