Overview
- RCS publicly launched the RCS Contrarian Office Fund on Monday with a $350 million equity target and plans to use debt to acquire up to about $850 million of office assets.
- The fund is seeded by a $50 million personal commitment from CEO Marcel Arsenault and a second large commitment reported at roughly $47.5 million to $50 million by different outlets.
- RCS plans to close the commingled fund in the first quarter of 2027 and is marketing it to high-net-worth and family office investors, according to company statements.
- The vehicle formalizes a strategy RCS has been pursuing since 2024, when the firm deployed roughly $644 million to buy 14 office properties in 10 U.S. markets, including the Equitable Building in Chicago.
- If successful the fund could accelerate buying of distressed office buildings, push more assets toward value-add repositioning or conversions, and increase competition for deeply discounted properties across at least 15 targeted markets.