Franklin Property Corporation sold its phase 2 lots in Lyon Ridge subdivision to Hunter Pasteur Homes, a leading home building company based in Farmington Hills, MI. Developed by Franklin Property Corporation in 2005 and 2006, Lyon Ridge is one of the leading luxury home subdivisions in the South Lyon community featuring estate size lots, protected wetland and natural feature areas, and premier location across from Lyon High School. Hunter Pasteur is an active builder in the Novi, Van Buren, and Clarkston markets.
Archives for 2010
Franklin Consulting Company was retained by a Novi, Michigan investment company to provide financial analysis and loan consulting services for a corporate headquarters office building in Novi, Michigan. Franklin Consulting successfully negotiated a forbearance agreement and five year loan modification with Colony Financial, one of the Nation’s largest hedge fund lenders enabling the property owner to save the property from foreclosure and reposition the property. Franklin Consulting has been retained by numerous developer and investor clients to represent them in commercial loan modifications on properties throughout the United States with CMBS, Life Insurance Companies and National Banks.
Franklin Natural Resources and Franklin Northern Land Company, affiliates of Franklin Property Corporation, leased 400 acres of its northern Michigan land holdings in Emmet and Charlevoix Counties to Chesapeake Energy Company for oil and gas exploration. Chesapeake Energy, a public oil and gas exploration company based in Oklahoma, has substantially increased its land lease holdings in Northern Michigan in competition with other international energy companies vying for land in the market.
Franklin Consulting Company, an affiliate of Franklin Property Corporation, has been retained by a leading development group to handle lender workout negotiations on behalf of a portfolio of loans that include office, industrial and vacant land properties. The assignment consisted of a simultaneous workout strategy with three separate lending institutions, including CMBS lenders, international banks and private equity funds.