Franklin Real Asset Advisors has acquired six UK care homes on behalf of Franklin Templeton Social Infrastructure Strategy.
The firm did not disclose the value or the seller, but said the portfolio comprised 406 beds across Northwest England. The assets will be operated by a regional care home operator on a new 35-year lease.
Michel Lim, senior vice president, said the firm had been working with the vendors for six months as well as a new operator.
'We were able to structure a deal that is a win-win scenario for all, providing us with a long-term lease to a well-established and mission-aligned care home operator that provides quality care services to the communities.'
Klaus Schmid, MD, said: 'The acquisition not only allows us to preserve the existing care home beds but also reactivates approximately 100 beds. This effort will contribute to addressing the shortfall of accessible, high-quality beds in the catchment areas for all six care homes.'
