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HOUSTON – Rockspring Capital, a privately-owned real estate investment firm based in Houston, today announced its purchase of a 10.26-acre tract, a covered land play, in the western suburbs of Houston. The company purchased it in a joint venture with other Rockspring funds.
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Rockspring News
Institutional Real Estate, a global media firm focusing on sharing real estate industry news and insights, recently sat down with Rockspring Capital CEO Jim McAlister IV to discuss the benefits of investing in undeveloped land. The podcast features insight into the advantages and disadvantages of investing in raw land as well as discusses what to look for when vetting undeveloped parcels.
To listen to the full Institutional Real Estate podcast, click here.
HOUSTON – Rockspring Capital, a privately owned real estate investment firm headquartered in Houston, today announced the addition of Michael Kastel as Director, Investor Relations. Kastel will be responsible for quarterly and annual client reporting, investor requests, operations/data management coordination and due diligence assistance.
“The economic winds are changing in favor of Texas once again,” said Jim McAlister IV to Crain’s Houston Reporter Bayan Raji during a recent interview regarding Texas real estate and foreign investment. Raji reached out to the only real estate investment firm in Texas specializing in land as well as an international partner for insight. McAlister explained that Texas has endured the oil downturn quite well and due to the business friendly economy and multifaceted industry base, ‘wise’ investors already recognize the opportunity.
To view the Crain’s Houston article, click here.
GlobeSt.com editor Lisa Brown recently published an exclusive Q&A with Rockspring Capital Managing Director Jim Hynes on global investors now looking beyond traditional real estate (focusing more on residential and land) for opportunistic returns. “The residential and land sectors are well positioned for outsized returns as there’s limited supply and growing demand in most markets,” said Hynes.
To read the GlobeSt.com article featuring Jim Hynes, click here.
Industry Insights
According to a Houston Chronicle article featuring Energy Economist Karr Ingham, Texas is entering a ‘new cycle of expansion’ in the oil and gas industry as initial financial reports for the beginning of 2017 show promising data, alluding to consistency in the industry’s recovery. For instance, in the first quarter of 2017, Texas oil rig counts are up 80 percent, drilling permits have doubled to 1,300 and state oil and gas employment has increased by 9,000 over the first quarter of 2016.
To read the full Houston Chronicle story, click here.
The Dallas Morning News caught up with a senior economist with the Federal Reserve Bank of Dallas for some interesting insight into recent U.S. Census Bureau data. Although Harris County was dethroned as the population boom king by Maricopa County, Arizona, overall Texas had four counties in the top ten for population growth from 2015 to 2016.
To read the full Dallas Morning News article that covered the report, click here.
Hotel building data from industry research firm STR Global showed that Dallas, Austin and Houston will have the majority of new hotels in 2017. These three Texas cities will dethrone traditional front runners New York and Los Angeles. In 2017, Marriott alone is building 38 hotels in Texas.
To read the full The New York Times article that covered the report, click here.
Recent results from a survey released by the Federal Reserve Bank of Dallas showed that factory production in Texas increased for the seventh consecutive month in January 2017. The state production index showed that this success is due to increases in shipments, added workers and extended hours of production. Healthy factory production is key indicator of economic wellness and 2017 is off to a strong start.
To view the Austin American-Statesman analysis of the survey results, click here.
According to state-by-state population growth data recently released by the U.S. Census Bureau for 2015 to 2016, Texas saw the largest increase in people (432,957) compared to any other state. Texas led the charge for many southern states as well with 37.9 percent of the population in the U.S. living in the south region in 2016. Real estate market success has historically correlated with population growth and experts predict 2017 to be a solid year.
To read the Houston Agent article, click here.