Uncategorized

Franklin Northern Land Company, a wholly owned affiliate of Franklin Property Corporation, sold an 80 acre parcel in Alanson, Michigan to Crandall Environmental LLC. Originally slated for a housing development, the property will be developed into a wetland mitigation bank to serve as wetland credits for other development and municipal infrastructure projects in Northern Michigan.

Franklin Northern Land Company, a wholly owned affiliate of Franklin Property Corporation transferred title to LTC Endowments for a 77 acre parcel in Springvale Township, MI. The property, originally slated for a residential subdivision development, will be held in trust by a conservancy group for the perpetual conservation of the property in its natural state.

Franklin Property Corporation, in partnership with Kirkshire Investments, acquired Plumbrook Townhome Apartments in Sterling Heights, Michigan. Plumbrook is a luxury townhome community featuring 2 bedroom units, full basements and private garages. Acquired through an off market transaction, the property was financed with a CMBS loan originated from Citigroup Global Markets. Franklin Property Corporation will be enhancing the value by an extensive interior and exterior renovation of the property during the projected ten year holding period.

Franklin Construction Company, LLC, an affiliate of Franklin Property Corporation, was awarded the entitlement contract for Dunhill Park, a 31-unit high-end Hunter Pasteur Homes development located in the City of Novi at the northwest corner of 8 Mile Road and Beck Road. Dunhill Park has received rezoning approval and is now going through the site plan approval stages. Franklin Construction Company, LLC, was also awarded the construction contract in March 2016 and the development is expected to be completed in 2016.

Franklin Consulting Company in conjunction with Hotel Investment Services brokered the sale of Yarrow Golf and Conference Resort, a 300-acre championship golf course and conference facility located in Augusta, Michigan. FCC and HIS were retained by the owner, a private investment group, to market the property on a national basis. The property was sold to a private foundation located in Nashville, Tennessee.

Franklin Property Corporation was retained by members of the Pulte Family and Hotel Investment Services to market Yarrow Golf and Conference Resort, a 300 acre resort property located in Augusta, Michigan. The property was successfully sold in 4 months to a private foundation based in Nashville, Tennessee for a special use facility.