HOUSTON (November 4, 2014) – Rockspring Capital, a privately-owned real estate investment firm based in Houston, today announced the acquisition of a 28.44-acre site in the booming northwest Austin submarket of Leander, Texas.
The site is off of Old FM 2243, just west of US 183, and is centered between several single-family and commercial developments within the highly regarded Leander Independent School District. The lot is a prime location for a multi-family development with commercial fronting.
“According to U.S. Census data, Leander has more than tripled in size in the last 15 years. This is a result of Austin’s booming economy,” said Jim McAlister IV, President and CEO of Rockspring Capital. “This exponential population growth is driving up the demand for family homes and apartments, making this property an attractive investment.”
Old FM 2243 will expand from two to four lanes in 2015, which will make the already popular corridor to be one of the most traveled in the area. Adjacent to the recently purchased property is a 350-acre plot which will soon hold 1000 single family homes.
McAlister concluded, “The new homes being developed, along with all the local commercial businesses, complement our property very well as it adds more variety for current and the influx of new residents. We’re looking forward to the returns this investment will bring our partners.”
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.