RCS (Real Capital Solutions), with over three decades in the industry and based in Colorado, USA, has identified a clear opportunity on the Costa del Sol and plans to invest around 200 million euros over the next four years.
RCS Spain, a new division of RCS, recently acquired Cosmo Beach and Valley Heights at a total acquisition price of €14.95 million including rehabilitation costs. Both projects were previously in the hands of Spanish banks.
Analysts predict that the Spanish resort real estate market has hit bottom. Marcel Arsenault, founder of RCS, has a proven track record in forecasting the market and deploying capital at the right time in real estate cycles.
“We have a proven model. We have an appetite. We’re successful and we’re now on the ground in Spain with extensive talent from architects, engineers, sales and marketing teams and solid, service-minded homeowners associations in place,” said RCS managing partner Peter Wells. “We’re among the ‘first in,’ with first-hand knowledge of working in a challenging business environment with all facets of regulatory requirements, entitlements, financing and launch of product. Our model is working.”