Franklin Real Asset Advisors, on behalf of the Franklin Templeton Social Infrastructure strategy, has acquired a 66,737-square-foot prime justice building in one of the city’s most vibrant neighborhoods and the commercial, cultural and tourist center of Barcelona.
“We are pleased to acquire this justice asset which meets our objective of investing in buildings in which essential social services that have a positive impact on society are provided,” said Raymond Jacobs, managing director at Franklin Real Asset Advisors. “Our social infrastructure investment strategy provides capital to a sector that is short of public funding and thereby supports necessary services which play an important role in ensuring a well-functioning judicial system in the region.”
The building is fully leased to the government of Catalonia on a long-term basis and houses the Public Prosecutor’s Office and the Centre of Legal Studies.
“This acquisition is our second justice bu
