Marcel Arsenault Of Real Capital Solutions Acquires First Financial Center From Eric Banks For $59M

The office asset involved in this transaction is located at 255 East 5th Street, Cincinnati, OH. The property spans 553,659 square feet and consists of 31 units. It was sold for a transaction amount of $59,000,000, resulting in a price per unit of $1,903,226 and a price per square foot of $107.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $59,000,000
• Units: 31
• Price Per Unit: $1,903,226
• Square Footage: 553,659
• Price Per Square Foot: $107
• Buyer: Marcel Arsenault - Real Capital Solutions
• Seller: Eric Banks - Tolis Advisors
• Broker: Tom Powers - Cushman & Wakefield

Marcel Arsenault, representing Real Capital Solutions, has acquired the property to advance their office strategy focused on distressed assets. The acquisition adds a Class A office tower with significant tenant occupancy and access to public transit to their portfolio, marking a pivotal deal in the Cincinnati market.