HOUSTON – Rockspring Capital, a privately-owned real estate investment firm based in Houston, today announced the acquisition of a 16.9-acre multifamily tract in New Braunfels, Texas, a submarket near San Antonio. The company purchased it in a joint venture with other Rockspring funds.
“New Braunfels had the second fastest growing population in the U.S. last year, making it a highly sought after suburb for commercial and residential developers,” said Jim McAlister IV, President and CEO of Rockspring Capital. “The property is near one of the main roadway arteries of Texas and has popular nearby attractions, making it an excellent location for multifamily renters.”
The property is located by the intersection of IH-35 and FM 306, highly traveled corridors, near a highly commercial area and minutes from Schlitterbahn, one of the biggest water parks in the country. The firm plans to exit the property in the next couple years.