Rockspring Capital (the “Company”) announced today that the Company acquired a 30.6-acre land parcel located north of the intersection of Culebra Road and Loop 410 in northwest San Antonio.
The Company acquired the land on behalf of its seventh fund, Opportunity Land Fund No. 7 (“Fund”) from a developer interested in raising cash quickly. The acquisition closed on August 27th.
“With this great piece of land, we are fulfilling our investment strategy of acquiring opportunistic land sites quickly and with all cash” said Jim McAlister IV, President and CEO of Rockspring Capital. “We are seeing generational opportunities because of the market illiquidity. Our all-cash strategy makes us very attractive buyers as we are able to close with certainty,” he continued.
About Rockspring Capital
The Company is a second-generation real estate investment management firm. Rockspring’s investment strategy is to acquire opportunistic developed residential lots in desirable communities and in-fill land parcels in high growth areas. The Company acquires land with all cash through a fund structure designed to provide its investors diversification through product, location and investment size mix. Core markets are within the “Texas Triangle” of the Houston, Austin, San Antonio and Dallas/Ft. Worth greater metropolitan areas. The company is now raising capital for its seventh fund – Opportunity Land Fund No. 7, L.P., which will be capped at $100 million.