Week of 8.14.17

Welcome to the home of Social Lights. New online reports with photos appear each week on the website and in the monthly print editions for the Birmingham-Bloomfield area and the Rochester-Rochester Hills area at the start of each month. If you want e-mail notification of when new Social Lights columns are posted to this site each Monday, sign up in the Newsletter Sign Up box at the lower right side of this home page.

Meadow Brook Concert & Cuisine

More than 350 ($85 - $125 tickets) convened at Oakland University for the annual summer fundraiser for MBT - “Michigan’s answer to Broadway.” Before the food stations opened, folks lollygagged outside sipping beer and wine from the Rochester Tap Room and bid $9,000 for the silent auction items Colleen Brnabic and Maryann Foxlee had set up in the hallway. Generous local restaurants (see photo gallery) served savory fare for dining on the stroll before the theatre doors opened. Artistic director Travis Walter conducted a live auction with his trademark good humor. He got $500 from two bidders for two Dickens packages that included a walk-on role in MBT’s “A Christmas Carol”  and $900 for a Fender Squire Guitar signed by The Grass Roots Band.
shadow
This weeks social light photos…

/locallinkimages/OakConHdr.jpg

oakland confidential

August 2017

HORSE RACES: Democratic aspirations of taking a majority hold on Congress after the 2018 General Election will hinge on the party’s ability to take two dozen congressional seats, which may include upsets in Michigan’s 8th and 11th Districts, according to recent rankings of 82 districts by The New York Times. The piece split the districts into eight groups to watch, based on competitiveness ...more»
Print
Email Link
Feedback
Report
Share
David
shadow
Photo: Laurie Tennent
.
(click for larger version)
03/03/2015 - If business really is all about who you know, then the principal owners of Bloomfield Hills-based ROCO Real Estate didn't have to look very far to find each other and formulate a business plan.

"We grew up together going to Cranbrook Schools," said David Colman, who started the young and growing firm with his brother Michael Colman and friend Tyler Ross. "We have known Tyler throughout our own lives, and our families go way back. Our grandparents and parents were friends."

While the two families have been friendly for generations, their businesses – Acme Mills, an automotive textile supplier owned by the Colman family, and the real estate development company Edward Rose & Sons, owned by Ross' family – it wasn't until 2012 that the three men merged the two families in a joint venture.

At the time, Ross, who in 2011 earned his law degree from Fordham Law School in New York, had gone to work for his family's firm, where Michael Colman was already overseeing new acquisitions. Meanwhile David Colman was working as a product strategist for the investment firm BlackRock in New York. Then an intriguing offer came from home.

"I had an amazing experience there and learned a lot," David Colman said about his time at BlackRock. "It's an amazing firm with so many smart people, but (Michael and Tyler) decided at Ed Rose to start their own company, and they were putting a lot of pressure on me to come back and team up to do it together. After weighing the pros and cons, I moved back to where I grew up, and the three of us really started the company together."

Later, Tyler's brother, Evan, joined the firm as a silent partner. "He's actually an opera singer," Colman said.

Since forming the business in 2012, ROCO has grown its holdings to about 50 properties with a value of more than $425 million. Colman said the firm focuses on multi-family spaces, primarily apartment buildings, that don't require much rehabilitation in tertiary markets. However, the real strategy behind the firm's growth is the ability to find deals before they are heavily promoted in the marketplace. The results, he said, have been a bit of a shock in an industry that has traditionally been dominated by more established firms with older, more experienced executives.

"We are focused on being innovative and cutting edge, and doing things differently," he said of the staff, which consists of nine people, including the principals, who are all in their 20s. "Usually, it's older people that are focused on this industry. When we started, we said, 'let's do things differently.' We didn't want to build our company like those that have been doing it for 40 years and are stuck in their way. We wanted to do something differently. It feels more like a tech star-up, rather than a real estate firm."

...continued on page 2
Pages 1 2

Comments ()
Varsity Shop
News Tips
Signature Sothebys
Shades
BBAC
Kathy Broock Ballard
Click for Birmingham, Michigan Forecast

Site Search

Municipal meeting videos
spacer

Birmingham Commission
Birmingham Planning
Bloomfield Trustees
Bloomfield Hills City Commission
Rochester Hills City Council Meeting
Rochester City Council Meeting
Rochester City Planning Commission
Thanks for visiting Downtown