Real Capital buys California properties
Last Updated: 11:23 January 30, 2013
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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Solera National Bancorp (OTCQB: SLRK), is the holding company for Solera National Bank, which has a mortgage origination