ROCO Real Estate: Michigan-based real estate investors buy third Memphis apartment complex

An apartment complex off of Mount Moriah has sold to a real estate investment firm headquartered in a suburb of Detroit for $5.5 million. ROCO Real Estate LLC, operating in Memphis as Roco-Mt. Moriah LLC, bought The Reserve at Mt. Moriah from RRE Foxwood Holdings LLC for $5.5 million, according to a Sept. 18 special warranty deed. With 220 one-, two- and three-bedroom units, the transaction breaks down to $25,000 per unit. RRE Foxwood Holdings LLC bought the apartment complex for $2.38 million...