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Franklin Property Corporation

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Franklin Property Corporation Acquires Luxury Townhouse Apartment Community

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.