Colorado company to buy hotels in Texas, Oklahoma, Louisiana oil areas

DENVER BUSINESS JOURNAL - A Colorado real estate investment company is partnering with a Texas hotel business to scoop up lodgings in Texas’ Permian Basin and other oil-rich regions where prices have been pushed down by the energy slump.

Louisville-based Real Capital Solutions plans to spend from a $200 million investment fund on hotels in the Permian Basin and other oil and gas-driven regions like Houston; Oklahoma City; Tulsa, Oklahoma; and Lafayette, Louisiana.

It is capitalizing on Dallas-based Prism Hotels and Resorts' contacts with lenders and brokers to find the best deals. Prism will not contribute any equity to the transactions.

Marcel Arsenault — founder, chairman and CEO of Real Capital Solutions — said he is investing in properties in oil and gas-focused areas while oil prices are low, causing dips in property values.

Read more at the Denver Business Journal: http://bit.ly/2dk58Ly

Copyright 2016 Denver Business Journal


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