Rockspring Capital, a privately-owned real estate investment firm based in Houston, today announced the acquisition of a 7.6-acre site in Northwest San Antonio, Texas.
The property is located in the prestigious Westover Hills Development located on Rogers Rd near Mt. Evans. It neighbors Chevron and Microsoft’s Data Center worksites, and is moments away from heavily-traveled highways 151 and 1604.
“We look to acquire a wide variety of assets in different submarket locations of Texas’ four major cities, and this acquisition helps us to further diversify our fund portfolio for our investors,” said Jim McAlister IV, President and CEO of Rockspring Capital. “There are numerous types of vertical developments that can be built on this property as this flourishing Westover Hills area is in need of various services.”
The potential uses for this site include office, data center, medical and multi-family. McAlister added, “With multiple exit strategies, this property was a very attractive buy and should produce a strong return.”
This is the second purchase the firm makes this year as it acquired a 22.52-acre retail site in booming Austin, Texas. These investments are further evidence of the growing demand for land in Texas, which is being driven by its thriving economy and explosive population growth.
About Rockspring Capital
Rockspring Capital is a Houston-based real estate investment firm with a history of investing since 1973, whose strategy is to acquire opportunistic land parcels and residential lots in high growth areas. It also makes special situation bridge loan and note purchases on land-related assets. Rockspring Capital acquires with all cash in markets within the “Texas Triangle” – Houston, Austin, San Antonio and Dallas/Ft. Worth. For more information about Rockspring Capital, visit http://www.rockspringcap.com.