Real Capital buys California properties

LOUISVILLE – Real Capital Solutions, the Louisville-based real estate investment group that specializes in buying distressed assets across the nation, has purchased 136 residential lots and a semi-private golf course in Meadow Vista, California, for $8.5 million.

The property, located about halfway between Sacramento and Lake Tahoe, was bank-owned after going into foreclosure in May 2008.

Real Capital Solutions, which is headed by Marcel Arsenault, intends to spend $300 million this year to acquire distressed properties, according to a press release from the company. The sellers include banks looking to sell foreclosed properties and undercapitalized developers and builders.

The lots are part of a 409-lot upscale development, according to local press reports. The golf course, the Winchester Country Club, was designed by Robert Trent Jones Sr. and his son, Robert Trent Jones Jr.

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