Aengevelt Immobilien brokers a large social property in Frankfurt to the international investor Franklin Real Asset Advisors (FRAA) for its “Core Franklin Templeton Social Infrastructure Strategy”.
The property covers approx. 9,000 m² and has been converted from a hotel into a refugee shelter. The building is fully leased on a long-term basis to a non-profit organization that works on behalf of the city.
DW Real Estate advised the investor extensively as part of an investment management mandate.
Mark Aengevelt, Managing Partner of Aengevelt Immobilien, comments: “The transaction is no coincidence, as we are observing an ever-increasing demand in the social infrastructure segment and our company is therefore specifically active in this area. After we were able to broker the value-adding lease for the previous owner, the brokerage of the purchase contract rounds off this deal.”
“Investments like this represent an important source of capital for the creation of needed social spaces. From an investor’s perspective, the investment offers long-term income security with very low operator risk,” Daniel Milkus, Branch Manager Aengevelt Frankfurt, continues, adding: “We are currently preparing further transactions in the social segment, including in Frankfurt and Munich.”
