SAN ANTONIO – Rockspring Capital has purchased a 7.6 acre site in the northwest part of the city. While development plans are not yet in place, the site is well-suited for a variety of different uses.
“There are numerous types of vertical developments that can be built on this property as this flourishing Westover Hills area is in need of various services,” says Jim McAlister, president and CEO of Rockspring Capital.
Rockspring is considering uses such as office, data center, medical office and multi-family housing. The 7.6-acre site is located within the 1,270-acre, master-planned Westover Hills development.
The purchase, Rockspring Capital’s second of the year in Texas, fits in well with the firm’s investment mantra.
“We look to acquire a wide variety of assets in different submarket locations of Texas’ four major cities, and this acquisition helps us to further diversify our fund portfolio for our investors,” McAlister says.
Earlier this year, as GlobeSt.com reported, Rockspring Capital purchased a 22.52-acre retail site in the Bee Cave area outside of Austin, TX.