Real Capital Solutions launches $350M contrarian office fund
What's the deal? Real Capital Solutions (RCS)Dealroom has a profile for this one. Try Dealroom →, a Colorado-based real estate investment firm, has launched the RCS Contrarian Office Fund, targeting $350 million in commitments. With leverage, the fund aims to acquire roughly $850 million in Class A and B office assets across prime and secondary US markets facing financial distress.
Why now? RCS is betting on a market reset. It sees office valuations depressed by higher interest rates, tight capital markets, refinancing pressure, and the lingering effects of COVID-19.
What's the endgame? The fund targets fundamentally strong office properties whose prices have fallen. Founder and chief executive officer Marcel ArsenaultDealroom has a profile for this one. Try Dealroom → called it "another generational opportunity to acquire institutional-quality office assets at valuations that can create compelling long-term value."
Arsenault will anchor the fund with a $50 million personal commitment, aligning his interests with those of investors. RCS is pitching the vehicle to qualified investors, particularly high-net-worth individuals and family offices seeking non-correlated alternatives.
The track record: Since 2008, RCS has posted a 24% realised gross IRR across 177 realised investments. It has invested more than $5 billion across over 400 acquisitions since its founding, and currently owns 80 properties with more than $2.7 billion in assets under management.
Between 2024 and 2026, the firm deployed about $644 million of its own capital into 14 office properties across 10 US markets. It bought that portfolio at an average of $116 per square foot — roughly 18% of replacement cost and more than 50% below peak values.
The signal: RCS is doubling down on a sector many investors have written off, wagering that forced selling and wide bid-ask spreads mark a bottom. As chief investment officer Adam Abeln put it, "the current market presents one of the most compelling office investment opportunities in decades."
Read more: Cadillac News
Image credit: Ken Lund
