HOUSTON – Rockspring Capital, a privately-owned real estate investment firm headquartered in Houston, today announced the acquisition of a 4-acre site located at the corner of Yale St. and the North Loop 610 within the highly valued Garden Oaks and Greater Heights neighborhoods.
“These dynamic Houston neighborhoods are rising fast in terms of appreciation and property values,” said Jim McAlister IV, President and CEO of Rockspring Capital. “This land tract is in an ideal location for mid-rise apartments or mix-use retail which helps to broaden our exit options.”
The property is a redevelopment parcel, situated among multiple single-family and commercial developments within Houston’s inner loop, only four miles northwest of downtown. It’s also a short drive away from the prestigious schools, St. Pius X High School and Garden Oaks Christian Academy.
“Not only is this property in a great location, it has the additional appeal of a positive cash flow from an existing lease. We like the demographics of the transitioning area and believe in the near future the continued metamorphosis will allow us to sell the property at a value that will generate a strong return. We’re excited about the potential of this property,” said J. Beau Ryan, Senior Vice President and COO of Rockspring Capital.
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.