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.
Uncategorized
Franklin Consulting Company Retained to Negotiate Loan Modification With National Hedge Fund
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 Leases Land Holdings to Chesapeake Energy
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.
Successful Lender Workout by Franklin Consulting
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.
Franklin Consulting Company Retained As Expert Witness in Federal Court
Franklin Consulting Company was retained by the law firms of Sullivan Ward, Asher & Patton, PC, and Morganroth and Morganroth, PLLC, on behalf of its client to provide real estate expert witness testimony and litigation support in a matter pending in Federal Bankruptcy Court. Andrew Milia was retained to testify on management practices and management fees as an industry expert in the case to resolve a partnership dispute involving several multi-million dollar entities.
Successful Lender Workout by Franklin Consulting
Franklin Consulting Company, an affiliate of Franklin Property Corporation, has been retained by a local investment group to handle its loan workout negotiations with a regional bank. The owner’s portfolio, totaling in excess of $20,000,000, includes a series of office and industrial buildings as well as vacant land. The Company has been engaged to implement a strategic workout plan, including loan modifications and discounted loan payoffs.