"Our success has been built on combining good people with good projects”.
Louisville, CO (PRWEB) March 21, 2013
Real Capital Solutions, a nationally-focused investor of work-out and value-add properties, announced the purchase of Wildhorse Meadows in Steamboat Springs, Colorado. The property, owned by Bank of America, encompasses 17.2 acres for a purchase price of $5.82 million. The property is part of a Planned Unit Development of 579 total units.
Located on the Steamboat Springs ski mountain, at the intersection of Mount Werner Road and Pine Grove Road, Wildhorse Meadows is ideally positioned within the Steamboat resort area. Approved development plans include 200 condo hotel units, 88 condo lofts and 40 townhomes. Adjacent amenities include the privately-owned Wildhorse Gondola, Steamboat Country Store and Trailhead Lodge with fitness facility and outdoor amenities including grill and fireplace area.
Real Capital Solutions has a distinguished track record of purchasing distressed properties and turning them around. Under the direction of the CEO, Marcel Arsenault, the company has purchased and managed more than 250 commercial and residential deals totaling more than $1.25 billion and completed work-outs on over 10 million square feet of property. According to Arsenault, “We have a strong understanding that most problems in the real estate business are solved with expertise, not just money. Unlike many private equity investors, we are not just financial engineers with a check book. Our success has been built on combining good people with good projects and we understand the value of local partners who nourish their projects and build a company in the process.”
In 2013, Real Capital Solutions plans to acquire $300 million of real estate deals in specific strategic initiatives where their expertise is deepest. They seek deal flow from purchasing distressed assets from banks and also sponsor under-capitalized owners in need of additional working capital, including Builders and Developers with unsold or partially sold new residential condominium or single-family construction; Banks holding non-performing notes including construction and land loans already in default; Projects already in bankruptcy or foreclosure.
Real Capital Solutions deal sizes range from $5 million to $100 million. The company has teams in place with extensive experience managing their specific areas of focus including: Commercial Capital Solutions, Apartment Capital Solutions, Condo Capital Solutions and Homebuilder Capital Solutions. Arsenault indicated, “We are now sitting on over $100 million in cash and our various teams figure out deals very quickly. We sponsor operating partners like Mandarich Developments all over the country, which extends our reach from coast to coast”.
About Real Capital Solutions
Headquartered in Louisville, CO, Real Capital Solutions is a nationally-focused investor of workout properties. The company offers active capital with an emphasis on street level solutions and value-add real estate. They focus on providing capital and financial support, business planning, macro research, financial credibility, deal structure expertise, team building and back office operations. For more information about Real Capital Solutions, visit http://www.realcapitalsolutions.com.