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.
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