HOUSTON – Rockspring Capital, a privately-owned real estate investment firm based in Houston, today announced the acquisition of a 157-acre site in the thriving Houston submarket of Katy, Texas.
The tract, which is ideal for single-family residential, is located off of Katy Hockley road, just north of FM 529. This property is adjacent to the 2,705-acre Newland Communities site and is within the acclaimed Katy Independent School District, which grew by 2,000 students alone this year.
“According to the U.S. census data, Katy’s population has increased 30 percent since 2000,” said Jim McAlister IV, President and CEO of Rockspring Capital. “As families continue to relocate to Houston because of its job opportunities, they’re finding Katy an ideal place to buy a home because of the affordable pricing, close proximity to the city and highly praised school district. These factors are continuing to push the demand for residential lots in this area skyward.”
The property is a short distance from North Cypress Medical Center and Houston Premium Outlets. Less than five miles northeast lies the 11,400-acre master planned community, Bridgeland, which includes dining, retail, medical offices and employment.
Last month the firm announced the acquisition of another Houston-area property, however this one is located inside the city’s inner loop. McAlister continued, “Our strategy is to purchase properties spanning across the inner cities of Texas’ major markets as well as their submarkets. This helps to diversify our portfolio and broaden our exit opportunities, which is something our investment partners truly value.”
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.