By Michael Ross, Vice President, Asset Management & Entitlements
Rockspring Capital finishes the year strong with two valuable acquisitions in the Austin and Houston markets.
In November, we announced the acquisition of a 28-acre property in the booming North Austin sub market of Leander, Texas. Located off of Old FM 2243 and just west of US 183, this parcel was attractive to us because of the sizzling demand for homes in the area and the popular Leander Independent School District. In fact, according to U.S. Census data, Leander has tripled in size since 1999. We’re excited to see this purchase develop as the opportunities for this Texas land investment range from multi-family housing to possible commercial development.
Rockspring was also proud to announce an acquisition close to home in Houston, off the corner of Yale St. and the North 610 Loop. This property is a diverse addition to our portfolio as the purchase is a redevelopment parcel with an existing lease owner. The Greater Heights area of North Houston is in a transition period with the neighborhoods rising fast in appreciation and popularity. We foresee great potential in this real estate investment as well.
Rockspring’s unique portfolio is designed to give potential investors and partners quality and well researched options in Texas land and the latest additions are no exception.
With Texas land as popular as ever, Texas land investment companies say goodbye to 2014 and look forward to a fantastic 2015!