Franklin Real Asset Advisors acquires prime education building in Bordeaux
Franklin Real Asset Advisors, on behalf of Franklin Templeton´s Social Infrastructure strategy, has acquired a 3,400 sqm prime education building in the centre of Bordeaux, one of the most dynamic cities in France.
The building was recently redeveloped and is fully occupied by a leading higher education organisation in France on a long-term lease. The asset is a flagship campus for the group, which will accommodate approximately 1,200 students undertaking a variety of degree courses. Most of the students are on an apprenticeship scheme, a specific programme where students split their time between education and work. This enables them to get work experience during their studies while the company pays for their tuition fees and a salary.
Klaus Schmid, Director, Franklin Real Asset Advisors, comments: “We are very pleased to add this asset to our portfolio. It offers a high-quality educational space to its occupiers whilst providing long-term stable cash flows to our portfolio.”
Joris Bodez, Associate at Franklin Real Asset Advisors, adds: “This acquisition is the first investment in France for the strategy. Our focus remains on the educational sector, which provides strong impact and financial fundamentals. We expect to grow our portfolio in this sector and are actively looking at other opportunities in France, an important geographical region for the strategy.”
ENDS
For more Information, please contact:
Franklin Real Asset Advisors
Tel: 0207 073 8644
Saira Khan: [email protected]
Notes to Editors:
This is a marketing communication. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.
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 boutique 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 75 years of investment experience and approximately $1.3 trillion in assets under management as of October 31, 2022. For more information, please visit franklinresources.com.