1
 
                                                                    EXHIBIT 24.2
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
We consent to the inclusion in this joint proxy statement/prospectus related to
the merger of the Franklin real estate investment trusts of our reports dated
January 13, 1995 on our audits of the financial statements and financial
statement schedules of Franklin Select Real Estate Income Fund, Franklin Real
Estate Income Fund and Franklin Advantage Real Estate Income Fund. We also
consent to the reference to our firm under the caption "Experts."
 
                                                        COOPERS & LYBRAND L.L.P.
 
San Francisco, California
November 10, 1995