At Rockspring Capital, we strive to maintain a diverse portfolio of properties that provide more control over returns for our investment partners. Recently, we’ve added “Covered Land Plays” to smooth the cash flows of our portfolios.
April 28, 2015 – Rockspring Capital, a privately-owned real estate investment firm based in Houston, announced today that it was paid in full on a $7.1 million bridge loan by the owner and operator of the Harborwalk project, a 550-acre master planned community in Galveston County, Texas.
Jim McAlister IV sat down with Maria Bartiromo for a follow up interview to their Texas Land Grab discussion back in May 2014. This time around the focus was on oil prices and the effect it has had on the Texas economy. McAlister explained that the Texas Miracle is driven by much more than the shale play. The business-friendly regulations, diverse industry and jobs being created are keeping Texas well out of danger.
“There are 15 states that are booming — none better than Texas,” said Al Niemi, Dean of the Southern Methodist University (SMU) Cox School of Business at his annual roundtable discussion on the Texas and U.S. economy. The major discussion this year was the oil crisis and how long it’s going to last. According to some of the economist in attendance, Texas is taking the right steps.
To view the Dallas Morning News story, click here.
The Dallas Federal Reserve reported that 150,500 jobs are estimated to be the total amount achieved in Texas once the year closes. Statewide unemployment is now at 4.6 percent, below the nationwide rate of 5 percent. The Dallas Fed attributes a sizable amount of this success to Texas’ industry diversity and resilience, despite the oil downturn.
To view the United Press International coverage of the report, click here.
The Florida Governor recently spoke to the State Legislature on diversifying its industry base and creating more business friendly regulations. Guess what state he would like to model these efforts after? A Texas native, Gov. Rick Scott is well aware of the Texas Model and would like to see it replicated in Florida.
The strong Texas economy has drawn a major amount of international interest over the past few years with Chinese homebuyers definitely taking the majority of residential real estate. Increased job growth and the tech boom in Texas is cited for a major reason for this increased activity.