Real Capital buys California properties
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.
More breaking news...
Boulder County posts state-low foreclosures
Tickets on sale for BCBR's Mercury 100
Across Colorado, the average was about 1 completed foreclosure sale
The list of 100