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.
Houston is expected to surpass Chicago in population size, making it the third largest city in the U.S. in the next eight to 10 years. Houston’s unemployment rate and job growth has outpaced the national average for years now and the oil downturn has not had the predicted negative impact many thought would. To view the Reuters article, click here.
In 2014, Saudi Arabia announced they would maintain high-oil production levels while the market still hosted low oil prices. Their hope was that the continued low oil prices would hurt America and Texas economies. Much to their dismay, the Texas economy didn’t collapse. A recent opinion article written by Glen Hegar, Texas comptroller of public accounts, cites Texas’ economic diversity and technological developments in fracking as major factors for its continued success. To view the Wall Street Journal article, click here.
Although oil prices hit a six-year low recently, Texas remains strong according to the Federal Reserve Bank of Dallas. Texas is much more than oil, and jobs in the state’s technology, education and health care industries have skyrocketed. Not to mention the Lone Star State has added jobs in five of the first six months in 2015 with the unemployment rate well below the national average. To view the CNN Money coverage of the report, click here.
Texas’ economy continues to shine bright, according to the Commerce Department’s recently released data regarding the fastest growing economies in the U.S. in 2014. The mining, manufacturing, real estate and tech industries presented a diverse set of work opportunities for the state, despite the oil downturn.
To read the CNNMoney coverage of the report,click here.
According to recently released population growth data by the U.S. Census Bureau, Houston, Austin and San Antonio are among the top five fastest growing cities in America with Dallas and Fort Worth in the top ten as well. Texas is still seeing booming population growth due to its diverse job opportunities alongside one of the lowest unemployment rates in the country. Population growth is a key component to profitable real estate investing in Texas.
To view the CNNMoney coverage of the report, click here.