RCS Senior Leadership
Marcel approaches the real estate business from an academic perspective, constantly reading and analyzing the industry to better understand the story behind the story of real estate cycles. In over 30 years, Arsenault has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Marcel is one of the most active private owners of commercial real estate in the western United States. By constantly monitoring developments in the real estate industry, he tries to be ahead of the game. Marcel describes himself as a “real estate theorist who lives in the real world.”
During his career, Arsenault has completed workouts on more than 10 million square feet of property acquired during the RTC and savings and loan crisis and accurately predicted the housing-led U.S. recession, selling 80 percent of his portfolio at market peak. His considerable entrepreneurial experience has enabled him to build strong teams and direct rapidly growing companies. He is frequently contacted by the media to share his expertise; he’s appeared in INC Magazine, Colorado Real Estate Journal, TIME Magazine and Bloomberg News.
Marcel Arsenault is also the Founder & Chairman of One Earth Future Foundation.
One Earth Future Foundation leads initiatives to improve systems that prevent armed conflict through governance. To date, Marcel and his wife Cynda have contributed over $100 million to OEF and two related foundations. With 75 current employees, OEF is growing rapidly and expects to employ over 400 in the next 10 years. OEF’s areas of focus include: Enhancing maritime cooperation: Oceans Beyond Piracy (OBP) works to facilitate such cooperation around maritime piracy, and Secure Fisheries brings attention to global trends around illegal, unreported, and unregulated, fishing (which precipitates conflict and generated Somali piracy). OBP played an integral part in the release of 26 hostages after being held by Somali pirates in 2016.
Arsenault obtained a B.Sc. degree from McGill University and pursued a Ph.D. in molecular biology at the University of Colorado before embarking on his entrepreneurial career.
Judy serves as Executive Vice President of Corporate Operations & Asset Management for Real Capital Solutions. She joined RCS in late 1989 as an Analyst, and then expanded her role to include Marketing & Finance responsibilities for the company. She was promoted to Commercial Asset Manager in 1998, to Senior Asset Manager in 2007 and to VP and then SVP of Commercial Asset Management (2013 to 2020).
In late 2020, she was promoted to EVP, and now oversees both the commercial and multi-family portfolios for RCS (valued at more than $1.4 billion and comprising 15 million square feet of office, industrial, retail and multi-family space). She also manages both the in-house legal and human resources teams. Judy serves as Chair of the Commercial Investment Committee, which has the final decision on all new commercial acquisitions for the company, as well as Chair of the Strategic Operations Committee – a four-member group, including Mr. Arsenault, that drives the company’s macro strategies and investment initiatives. She has had the distinct privilege of working closely with Mr. Arsenault throughout the years and learning from his unique perspective and creative, problem-solving style.
Adam Abeln serves as Managing Vice President of Acquisitions for Real Capital Solutions and is a member of the Firm’s Executive Committee. Adam joined Real Capital Solutions in 2011 and has over a decade of experience in complex real estate transactions. Adam is responsible for the stewardship of the Firm’s acquisitions occurring in Florida, the Southeastern US and select Midwest markets. Adam has completed nearly $1 billion in real estate transactions across a broad range of strategies throughout his career and has acquired nearly 5 million square feet of real estate since joining Real Capital Solutions. His background includes all aspects of investment management across all asset types and risk strategies – acquisitions, asset management, deal structuring, joint ventures, leasing and operations, financing and sales.
Region:Commercial acquisitions in the southeastern United States
Ian is a highly experienced finance professional with proficiency in all aspects of financial planning and analysis including budgeting, forecasting, operational excellence and financial plan development. He is dedicated to providing Real Capital Solutions with actionable data. Ian has developed skills in creating valuation models, finance negotiations, designing reporting packages, industry analysis, variance analysis and annual reporting tools.
Joe joined Real Capital Solutions in 2012 in his current role, where he is responsible for identifying and underwriting value-add acquisitions sourced through the brokerage community as well as leveraging relationships for off-market opportunities. Joe’s two decades in the real estate industry include roles in acquisitions, dispositions and portfolio management. He has been involved in over $4 billion of deals throughout his career including, in his role as Chief Investment Officer, a $1B disposition and liquidation of a family office portfolio during a 10-month period in 2007 at the peak of the market cycle.
Joe has his MS in Real Estate Appraisal and Investment Analysis from the University of Wisconsin in Madison. Go Badgers! A Gulf War veteran, he is retired from the U.S. Navy Reserve.
Region:Commercial acquisitions throughout the United States
Ryan is Vice President of Acquisitions at Real Capital Solutions. Ryan joined RCS in 2009 and brings more than 15 years of experience in private real estate investment, equity capital markets, and commercial real estate debt finance. He is responsible for leading commercial real estate acquisitions in select markets throughout the Western and Midwestern United States, with a focus on value-add and development investment strategies for industrial, office, retail, and residential assets. He also oversees all aspects of the homebuilding department, including asset management and dispositions. In his time at RCS, Ryan has acquired over 30 projects and has been responsible for investments with total acquisition and development budgets exceeding $1 billion.
Prior to RCS, Ryan held several positions in equity capital markets and commercial real estate lending, including time at Oppenheimer and Company and Zions Bancorporation. Ryan earned a Master of Real Estate Development degree from Columbia University and holds a Bachelor of Science in Accounting from Brigham Young University.
Dave currently serves as VP of Acquisitions for Real Capital Solutions. Dave joined RCS in 2014 and brings over 15 years of real estate industry experience – having spent time within mortgage banking, equity placement, investment banking and private real estate investment. He is responsible for identifying, underwriting and closing value-add acquisitions in various markets throughout the United States and across multiple investment strategies to include: industrial, office, retail, and mixed use. Dave has been involved with over $750 Million in real estate transactions during his real estate career.
Dave holds his MBA in Finance and Strategy from the University of Denver and his BBA in Finance from New Mexico State University.
Region:Commercial Acquisitions throughout the United States
Austin currently serves as the Director of Multifamily Acquisitions at Real Capital Solutions. Austin brings 15 years of multifamily real estate investment experience, starting at a real estate investment bank, then at a national multifamily REIT (AIMCO) before joining RCS. He has purchased and managed over $400M in multifamily acquisitions, and has worked on both the strategic planning and execution of $3B worth of multifamily dispositions. Through these efforts, he has performed all aspects of the investment process including underwriting, acquisitions, contract negotiations, due diligence, debt placement/refinancing, reforecasting, and dispositions.
Brian is Director of Asset Management for Real Capital Solutions, having joined the firm in 2017. A generalist with a real estate career spanning two decades, Brian spent five years as a researcher for a market analysis consultancy, five years as a junior broker/financial analyst specializing in multifamily transactions, and the last decade as an acquisitions/asset manager working for owners of large property portfolios.
Originally from Honolulu, Brian has an undergraduate degree in finance from Georgetown University and a master’s degree in real estate from Johns Hopkins University. Brian spent twenty years in the Washington, D.C. metro area before moving to Colorado in 2017 to join RCS as a Senior Asset Manager.
Jessica is a native of Colorado and has been in commercial real estate for the past 15 years with a focus on office and industrial property and asset management. She is currently responsible for Asset Management of a portion of RCS’ commercial real estate portfolio comprising approximately 5 million square feet. Jessica graduated from the University of Colorado at Boulder with a degree in Finance and Real Estate.
Maril joined RCS in 2015, bringing over a decade of operations and property management experience in office, retail and multifamily. As an Asset Manager at RCS, Maril enjoys the variety that comes with working on different product types in various markets across the US. She currently oversees a portfolio of approximately 3 million square feet of office and industrial in addition to 800 apartment units. Maril has a strong interest in architecture and design, and holds a B.A. in Historic Preservation and Community Planning from The College of Charleston.
Mariya has been employed in the financial services industry in a variety of analytic roles since 1997 and has been with Real Capital Solutions since 2003. Her main responsibilities include solar development (has managed growth from 0 in 2012 to 17 MW/17 projects in 2017) and management of a portfolio of renewable assets. Other responsibilities include securities, commodities, derivatives research, analysis and management of a portfolio of interest rate swaps.
Ms. Chuykova was awarded the CFA Charter and became member of the CFA Society of Colorado in 2000. Ms. Chuykova received her MS in Applied Mathematics from Moscow State University in 1994 and MBA from North Dakota State University in 1997.
Finance & Capital
Elisa joined Real Capital Solutions in January 2020 as Senior Finance Director. Her previous experience included 20 years with a fully integrated real estate investment company where she oversaw investor reporting, finance, and accounting.
As Senior Finance Director, she is responsible for the direct financial support of each asset managed by RCS including: Capital; Financial Reporting and Financial Analysis, as well as the point of contact for both internal and external business partners. She also oversees the property accounting function and team across all different asset types including commercial, multi-family, hospitality, industrial, development, and for-sale residential.
The Capital Markets and Investor Services team is led by Scott Brown. Scott joined Real Capital Solutions in 2014 and drives equity and debt for the Portfolio Management teams. Scott brings an intimate knowledge of the projects managed by Real Capital Solutions, and is a great resource to our Investors and Partners with regards to evaluating the risks, cash flows, capital requirements, deal structuring, and the overall status of the portfolio.
Leanna is our Senior Accounting Manager who oversees our in-house and third-party management accountants. She is responsible for the operational accounting and reporting of the RCS portfolio. She joined RCS in November 2020 and brings over 30 years of experience of leading financial and accounting teams in commercial real estate.
Leanna is a third-generation Coloradoan with both sides of her family establishing their families in Colorado in the late 1800’s. Her paternal great-grandfather, Albert A Reed founded the law firm Hutchinson Black and Cook LLC in Boulder in 1891 and her maternal great-grand father Robert P Acsell founded Bethany Lutheran Church in Park Hill in 1908 of which both institutions are still thriving today. Leanna graduated from the University of Denver and enjoys spending her time with her husband Pete and their family and friends.
Sharon has been with Real Capital Solutions since 1991, rising from Controller to Chief Financial Officer, President (2006-2015), Chief Risk Officer, Chief Operating Officer & Division President, and now presently Executive Officer. In 2020, Sharon stepped back from day to day responsibilities at RCS so that she could help to manage the CEO’s philanthropic arm (One Earth Future Foundation – https://www.oneearthfuture.org/). In addition to her responsibilities at OEF, she provides the CEO’s Family Office with strategic oversight and operational advice. Sharon brings over 30 years of experience in accounting and financial management.
Beth has over 25 years of human resources experience in a variety of businesses and has her SPHR certification. She is a HR leader with proven success in operations as a business partner to align human resource programs to the goals and objectives of the organization. At Real Capital Solutions she is responsible for guiding and managing the overall Human Resources services, policies, and programs for the entire company and works with senior management to help determine the direction of the company regarding employee processes and systems. This includes recruiting and staffing; performance management and improvement systems; organizational development; employment and compliance to regulatory concerns; employee on-boarding, development, and training; policy development and documentation; employee relations; compensation and benefits administration; employee relations and coaching. The Human Resources Director originates and leads Human Resources practices and objectives that will provide an employee-oriented, high performance culture that emphasizes teamwork, respect, accountability, productivity and standards, goal attainment, and the recruitment and ongoing development of a superior workforce.
Jason joined Real Capital Solutions in 2001 as Tax Director. Previously, Jason had extensive accounting experience at Arthur Andersen. As Tax Director, Jason is responsible for preparation of all tax information for the company and all of its real estate investments. His knowledge of real estate tax law, extensive experience with real estate operations and tax planning, and superior ability to structure investments for tax efficiency make him an invaluable asset.
As Director of Research, Dan’s focus is on analyzing the macroeconomic and real estate trends and cycles and applying that knowledge to guide the strategic planning and decision-making for the company. His analysis helped the company foresee the depth and severity of the 2007 housing crash. He brings over 25 years of experience in nearly all aspects of commercial real estate ranging from acquisitions to valuation. Dan joined Real Capital Solutions in 2004 and has recently rejoined the team as the company looks toward new strategic initiatives in the coming decade.
Accounting & Treasury
Dan has managed the financial development of more than $7 billion of real estate, including residential (single family, and high-rise condominiums), commercial (office, shopping centers and apartments), and land development projects. Dan joined Real Capital Solutions in January of 2012.
As Chief Accounting Officer, he is responsible for full oversight of the company’s day-to-day external and internal accounting and reporting functions. He has over 32 years of experience in the financial management and reporting of real estate in both public and private environments. He has orchestrated the successful implementation of several new systems to reorganize and streamline financial operations and increase profitability.
As Assistant Controller, one of Cameron’s main focuses is on the corporate operations at Real Capital Solutions. He is involved in the production of the monthly financial reporting, preparation of policies and procedures, as well as implementation of various systems to increase efficiencies and reduce costs throughout the department. Cameron is also responsible for cash forecasting as it relates to acquisitions and dispositions of real estate assets.
Cameron joined Real Capital Solutions in 2015, coming from a background in public accounting. He holds a BS in Business Administration and MS in Accounting from the University of Colorado. Cameron has also held an active CPA license in the State of Colorado since 2013.
Rudy joined Real Capital Solutions as General Counsel in 1995, and was promoted to Vice President in 2004. He has extensive experience in all phases of complex real estate transactions, including acquisition of all asset types, 1031 like-kind exchanges, finance and commercial leasing. Rudy is extensively involved in transaction negotiations and like-kind exchanges and is responsible for all legal aspects of the deal structuring, acquisition and disposition, and financing of each of the Company’s real estate investments. He has worked very closely with Marcel throughout his 20-plus years with the Company giving him much insight into creative deal structuring.
Rudy directs a legal staff consisting of Senior Attorneys, Paralegals and Legal Assistants, who collectively are responsible for all project due diligence, closings, lease preparation and entity formation.