Ross to lead significant changes at Rockspring, including the firm’s rebrand, evolution in real estate investment strategy, launch of new development service and more
Feb. 5, 2020 – HOUSTON – Rockspring, a Houston-based, multi-disciplined real estate firm targeting markets within the Texas Triangle (namely, Austin, Houston and San Antonio), today announced its new President and Chief Strategy Officer Michael Ross and its new name, Rockspring (formally Rockspring Capital), as well as the launch of additional lines of business.
Ross’ new role includes overseeing day-to-day operations as well as the execution of the firm’s new strategies. He joined Rockspring in 2006 as Vice President of Asset Management & Entitlements where he oversaw pre-acquisition due diligence and post-closing entitlement activities for their funds. The founder and CEO of the firm, Jim McAlister IV, who has ran the company for 10 years will continue to oversee the business while deepening the firm’s fundraising and real estate activities.
“We’re beyond excited to enter into this new journey with my friend Michael leading the charge,” said McAlister. “Having worked for us for more than 13 years, Michael knows the business inside and out, has brought to the table many new ideas to grow the firm and has the management and leadership skills to execute them all with great success. I couldn’t be prouder of Michael and our growing teams across all offices as this new and historic chapter for Rockspring will elevate us to be one of the premier real estate firms in Texas.”
Rockspring has shifted focus from its traditional investments in suburban raw land (in the Houston, Austin and San Antonio MSAs) to assets in more urban areas targeting residential, retail and industrial developments with a higher price tag. This approach helps to identify investments with faster exit strategies as well as further diversifies its portfolio, which are benefits that have grown in importance to the Company’s investor base.
“I’m honored to have been given this opportunity to help lead the firm, by setting and implementing these new strategies,” said Ross. “I am confident that we’ll have extraordinary success in rolling out our new lines of business and growing the firm as the staff that Jim has assembled these past few years are the most talented real estate and investment teams with which I have worked. We’re just getting started and look forward to working with new investors, developers, property owners and services companies within the major markets of Texas.”
Rockspring is also launching a new vertical development platform. The Company historically has bought assets, added value horizontally and sold to end users, but now intends to extend the development cycle vertically, adding further value to its portfolio as well as opportunities to generate income producing assets. The firm has already put into action its development capabilities with its first retail property in Liberty Hill, Texas (a submarket of Austin), which will break ground in the next few months.
In addition, the firm’s partner brokerage firm McAlister Real Estate, also owned by McAlister, is rebranding under the Rockspring name as it looks to maximize the brand recognition the firm has built statewide and to grow its brokerage services across a broad array of real estate asset classes.
Rockspring’s investment roots go back 28 years with more than 15 funds and $350M under management. The Company has achieved tremendous growth adding several employees in the past five years and is gearing up to open its San Antonio and Austin offices later this year.
Rockspring is a Houston-based, multi-discipline real estate firm with a history of investing since 1993. The Company’s expertise in the Texas Triangle (Houston, San Antonio and Austin) provides investors with local expertise in the $1.3 Trillion economy in Texas across various asset classes, including, residential, retail and industrial development. The Rockspring team’s diversification in geography, deal size, asset class and leverage affords its investor base a wide array of investments to fit their strategy.