Investor Pays $66 Million for Dallas Tower, Construction

In Dallas, Real Capital Solutions, a Colorado-based real investment firm led by Marcel Arsenault, has purchased a 510,000-SF office building in Dallas for $66 million.

The purchase of the 20-storyTower at Park Lane is the firm’s first Dallas deal.

In The class A office building is located in the Park Lane mixed, use district and includes a six-story attached parking garage.

“One of the Nation’s Most Dynamic Real Estate Markets”

RCS, which owns an office building in Houston’s Westchase area and has a commercial property portfolio stretching across the nation, is high on Dallas. In a press release, RCS called Dallas “one of the nation’s most dynamic real estate markets.”

The company plans to invest $13 million in capital improvements to its newly purchased Dallas asse

Russell Ingrum and Patrick Benoist with CBRE brokered the deal.

“This purchase reflects our commitment to strategically acquire high-quality assets at a substantial discount but with considerable upside potential in vibrant, multi-use environments,” said Adam Abeln, Chief Investment Officer of RCS. “We are eager to implement our value-add approach to modernize and reposition Tower at Park Lane to win the leasing wars and create a workplace that meets the evolving needs of today’s tenants.”

Located at 8750 North Central Expressway, Tower at Park Lane is closer to more high-end retail than any other office building in Dallas. The property benefits from being adjacent to the Shops at Park Lane with over 40 retail, dining and entertainment destinations. The asset’s existing tenant mix, which includes Texas A&M University-Commerce, Match.com and TopGolf, further highlights its appeal to diverse industries.

In February of 2022. RCS purchased the 554,000-SF Schlumberger office building in the Westchase area from Lexington Industrial Trust. The low-slung Schlumberger building, built in the 1970s, sits on a 29-acre tract on the southwest corner of Richmond Avenue and Briarpark Drive. The property, 10001 Richmond Avenue, is just east of the Sam Houston Tollway.

RCS also owns the Bryan Town Center, a retail center near Texas A&M University.

$1 Billion Buying Spree Set for 2025

RCS is advancing its nationwide investment strategy with an aggressive purchase spree, targeting underperforming assets that offer compelling value creation opportunities. Working with its partners and co-investors, the company aims to acquire up to $1 billion in distressed office loans and real estate across the U.S. in 2025, cementing its position as a leader in opportunistic real estate investments.

Over the last 40 years, the company has purchased and managed more than 395 real estate assets, totaling approximately $5.1 billion in purchase value. RCS currently owns 80 properties with over $2.4 billion of assets under management.