HOUSTON, June 24, 2016 – Rockspring Capital, a privately-owned real estate investment firm headquartered in Houston, today announced the sale of 4.17 acres of its 10.58-acre tract in Northwest San Antonio located at the corner of Military Drive and Loop 1604 inside the booming Westover Hills neighborhood. The sale was made to CST Brands Inc., which is planning to build a future Corner Store on the tract.
The 10-acre property was purchased in June 2015, and is positioned only seven miles northwest of downtown surrounded by significant residential subdivisions, commercial uses, new business facilities as well as the popular Sea World amusement park.
“Rockspring accelerates its returns to its investors by strategically investing in infrastructure improvements on select properties like this one,” said Jim McAlister IV, President and CEO of Rockspring Capital. “We’re expecting the remaining parcels to be prepared and sold off to developers next year.”
Rockspring also owns another property in San Antonio’s Westover Hills area, a 7.6-acre site on Rogers Rd near Mt. Evans, which was acquired in 2014.
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. For more information about Rockspring Capital, visit www.rockspring.com.