Louisville’s Real Capital Solutions buys $29M office tower in DC

WASHINGTON — Real Capital Solutions, a Louisville-based real estate portfolio company run by local investment guru Marcel Arsenault, recently absorbed an 11-story Class A office building in the nation’s capital. 

The company paid $29.3 million for the 178,510-square-foot property at 1501 M St. NW, Washington.

“This acquisition represents our strategic approach to invest in high-quality office assets in a prime location at a significant discount to replacement cost,” Arsenault said in a news release. “In addition, it aligns with our disciplined strategy of acquiring financially distressed, yet operationally strong, properties.”

Marketing materials show that the property was renovated in 2020, and RCS said it plans additional improvements.

“We see enormous potential to unlock value by building on the property’s existing strengths and introducing improvements that meet today’s tenant needs,” RCS chief acquisitions officer Adam Abeln said in the release. “This building stands out as a well-located asset ready to capitalize on emerging market opportunities, positioning it for long-term success.”Real Capital Solutions made one the local real estate scene’s biggest splashes of 2023 when it purchased the completed two-building Medtronic Inc. corporate campus in Lafayette for $188 million.

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