Franklin Real Asset Advisors has expanded its social infrastructure portfolio with the acquisition of a two-building French university campus development.
The Franklin Templeton Social Infrastructure Strategy is forward funding the development of a pre-let 8,000sqm university campus in Lyon which is being developed by Nexity.
Financial details were not disclosed.
Klaus Schmid, managing director at Franklin Real Asset Advisors, said: βWe are delighted to develop these assets and expand our presence in France with an exceptional project in one of its primary urban centres.
βThe acquisition is strongly aligned with the strategyβs impact objectives, as it expands access to higher education through a highly sustainable, newly developed campus.β
Ricardo Leite, VP at Franklin Real Asset Advisors, said: βWith construction well under way and a shortened development timeline, this compelling opportunity combines strong asset quality with long-term income stability and is underpinned by a long lease with a leading higher education provider.
βThis investment builds upon our experience in the education sector and we look forward to continuing our work with developers to deliver high-quality projects.β
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