Archives for 2013

Franklin Property Corporation purchased 52-acres on Merritt Road in Ypsilanti Township, Michigan. The property has been site planned approved for an 83 lot subdivision. Franklin Property will hold the property as inventory for development in the near future. Franklin Property has developed the nearby Whittaker Village and Bellemeade subdivisions of 98 lots and 142 lots respectively.

Franklin Consulting Company was retained by a Farmington Hills, Michigan investment company to provide financial analysis and consulting services regarding a commercial loan for an industrial property portfolio in Livonia, Michigan. Franklin Consulting was able to secure a discounted loan payoff from the lender, Lincoln Financial Insurance Company, enabling the investor to obtain suitable takeout financing with a new lender. Franklin Consulting has been retained by numerous developer and investor clients to represent them in commercial loan modifications for in excess of 50 loan transactions on properties throughout the United States with CMBS, Life Insurance Companies and National Banks.

Ten Mile and Milford Investment Group, LLC based in Aspen Colorado retained Franklin Construction Company to obtain site plan approval for two projects in Lyon Township, Michigan, known as Stoneleigh East and Stoneleigh West. The two projects will be added as phases 3 and 4 to the first phases of the successful Stoneleigh development and will total 160 lots in all four phases. The lots have been sold to Hunter Pasteur Homes who is building homes in the $400,000 to $500,000 price range. In total, the Stoneleigh development will provide $72,000,000 in new housing in Lyon Township, Michigan’s fastest growing community.

Franklin Construction was retained by Hunter Pasteur Homes, one of Southeast Michigan’s premiere building companies, to provide construction management services to complete the infrastructure improvements for Wyncliff, a 38 lot subdivision and The Orchards of Commerce, a 28 lot subdivision. Both subdivisions are located in Commerce Township. Wyncliff will feature homes ranging in price from $400,000 to $500,000. The Orchards will feature homes in the $350,000 to $450,000 price range. Franklin Construction will handle the government agency permitting process and construction management of all the development infrastructure.

Hunter Pasteur Homes, a leading homebuilding company based in Farmington Hills, Michigan has retained Franklin Construction to handle due diligence services, site plan approval and construction management of its newest subdivision in Lyon Township, Michigan. The 80-acre parcel located at the corner of Napier and Ten Mile Roads will feature 100 home sites with a $50,000,000 housing value. Site plan approval is anticipated in the spring of 2014 and infrastructure construction to commence in the summer of 2014.

Franklin Consulting Company was retained by the law firm of Dettmer & Dezsi PLLC for a pending litigation matter in Oakland County Circuit Court. Franklin Consulting will provide expert witness testimony, litigation support and property value analysis in a corporate shareholder dispute involving real property in Oakland County, Michigan.