SOUTHFIELD — ROCO Real Estate, a privately held real estate investment company based in Bloomfield Hills, has teamed up with the Orlo Fund on the acquisition of Regal Towers, a five building, 933 unit multifamily community located in Southfield. In addition, the partnership is in the process of building Imperial Senior Suites on the property which will be 201 units restricted for ages 65 and older. Imperial Senior Suites is currently pre-leasing and construction will be completed by June 23.
Regal Towers is located on Franklin Road off of I-696, Telegraph Road, and M-1. The property features spacious one, two, and three bedroom apartments. Moreover, the community offers every amenity imaginable from a comfortable club house, glistening swimming pool, recently renovated fitness room, tennis courts, 24-hour security, playground/skate park, beautifully landscaped grounds, salon, restaurant, and laundry service.
“Regal Towers offers an affordable and spacious living environment with fantastic amenities,” commented David Colman, Principle of ROCO Real Estate. “ROCO is very excited to work with Aaron Orlofsky and the rest of the Orlo Fund team as they share the same passion for increasing the satisfaction and living experience for Regal Tower tenants.”
ROCO Real Estate, led by three entrepreneurs, Tyler Ross, Michael Colman, and David Colman, have acquired 3,000 units in the last year and continue to be in an extreme growth stage as they look to build to their multifamily portfolio.