Franklin Real Asset Advisors acquires a social housing asset in Barcelona, Spain

Franklin Real Asset Advisors, on behalf of the Franklin Templeton Social Infrastructure strategy, has entered into a transaction to acquire 83 units of rent controlled housing in Santa Perpetua, Greater Barcelona.

The building has been constructed to high green standards and will be let to local residents on affordable rents under the VPO scheme.

Michel Lim, Vice President at Franklin Real Asset Advisors, comments: “We are pleased to acquire our first affordable housing asset in Spain, which provides high quality housing units to the local population at a discount to open market rent. The units will be let to families satisfying a maximum permitted level of family income, ensuring that lower income households are not overly rent burdened.”

Klaus Schmid, Director of Acquisitions at Franklin Real Asset Advisors, adds: “This acquisition provides much needed affordable housing in the Barcelona region and provides the strategy with long-term stable cash flows. The acquisition of this asset is consistent with our dual return strategy of delivering impact to the community alongside a financial return, and we are looking to further grow this strategy in Spain.”

ENDS

For more information, please contact:
Franklin Real Asset Advisors
Tel: 0207 073 8608
Kira Foschi: [email protected]

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About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of November 30, 2022. For more information, please visit https://www.ftinstitutionalemea.com/