Skip to main content Skip to footer

Black Box Groningen resold to Xior Student Housing

A Dutch private equity firm sold the iconic office building Black Box to Xior Student Housing. This is a Belgian real estate company specializing in student housing. The private equity firm acquired the office at Eendrachtskade Zuidzijde 2 in Groningen in March earlier this year from an Irish investors group. 

The Black Box is an office building of twelve floors with 15,500 sqm of office space and 180 parking spaces. The building is momentarily vacant and is being redeveloped into a multifunctional complex for students. The opening will be in the final quarter of 2020.

Xior already has a residential complex in Groningen at Oosterhamrikkade with 180 student rooms. With this acquisition, Xior further strengthen its position in the third biggest student city in the Netherlands.

The transaction price was 46 million euros with a gross initial yield of 6.2%. Real estate advisor Colliers International advised the private equity firm during the acquisition process in March and the recent disposal process.

Related Experts

Olivier Verburg

Director Agency Amsterdam

Amsterdam

Olivier is director of Agency Amsterdam. In this role he advises different types of (corporate) clients on real estate with negotiations on the acquisition and disposition of commercial real estate. Furthermore he advises private equity, institutional and private real estate investors with buying and selling office properties in the Netherlands. Olivier holds a master degree in corporate Law (LLM).

Office Agency
We offer integrated brokerage/transaction services designed specifically to fit landlord needs. Our understanding of the dynamics of local real estate markets around the globe enables owners to create maximum value for their asset or portfolio of assets.

Office Tenant Representation
We analyze each tenant's business objectives and match them with the optimal real estate solution. Services for relocations, consolidations, subleases, acquisitions, and dispositions include strategic planning, demographic and site consulting, comparative financial analysis, construction, and post-occupancy services.

Specialties:
Leasing, negotiation, letting, investments, redevelopment/transformation (residential & hotel), office development, tenant representation, office agency, sale, sale & leaseback, land and/or office acquisition.

View expert