Franklin Real Asset Advisors has acquired a portfolio of 32 care homes across the UK on behalf of its social infrastructure strategy.
The Franklin Templeton Social Infrastructure Strategy has invested an unspecified amount to acquire the assets comprising approximately 1,500 beds located across Southern England, the Midlands, Northern England and Northern Ireland.
The care homes are leased on agreements lasting more than 30 years to a group of six operators.
Klaus Schmid, managing director at Franklin Real Asset Advisors, said: 鈥淲e are delighted to add this portfolio to our existing UK care home platform, marking a significant step in scaling our presence in the sector and strengthening our focus on the mid-market segment.
鈥淎ligned with the impact objectives of our strategy, this acquisition reinforces our long-term commitment to sustainable social infrastructure that meets the needs of local communities.鈥�
Michel Lim, SVP at Franklin Real Asset Advisors, said: 鈥淲e are very pleased to further expand our footprint in the UK care sector with this acquisition. The portfolio is well diversified across several UK regions and leased to a group of growth-oriented, nationally and regionally established operators with strong local expertise.
鈥淲e look forward to working closely with them to enhance the Environmental and Social performance of these assets and to pursuing similar opportunities which support the continued growth of our platform.鈥�
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