In 1988, PMF purchased Kelsey Creek Shopping Center for $7million. This was an unlisted property brought to Nat Franklin’s attention by one of his contacts whom he had built a business relationship.
In May 2000, PMF acquired a well located Safeway anchored shopping center for $7,200,000 which was comprised of $5,000,000 of debt. The center had been underperforming and had one large vacancy (35,000 square feet) and several smaller vacancies. PMF immediately recognized this outstanding opportunity to create substantial value.
In 1982, PMF bought an industrial warehouse in Columbus, Ohio with an equity investment of approximately $250,000. In 1997 PMF sold and exchanged its equity of $3,550,000 into a Safeway anchored shopping center known as the Green Firs Shopping Center. PMF purchased Green Firs for approximately $7,500,000 which included a small retail/office building on a separate parcel in the back of the shopping center. PMF secured a $4,000,000 loan that encumbered everything with the exception of the back parcel.