Land’s Highest and Best Use to be Determined

The tract is adjacent to the 24-acre Brookhollow Shopping Center.

HOUSTON—With a location on Dacoma Street near the intersection of the heavily traveled US 290 and Loop 610 in the northwest part of the city, a 7-acre site has many possibilities for highest and best use, say those involved in its recent acquisition. Rockspring Capital recently acquired the multi-acre tract which was bought in a joint venture with other Rockspring funds. The firm plans to exit the property in the next few years but finds it attractive for the time being for its net positive cash flow and valuable as a potential development play.

“As Houston neighborhoods continue to transition, it takes real estate experts with deep networks and a nimble structure to acquire this type of property,” said Jim McAlister IV, president and CEO of Rockspring Capital. “We like this asset not just because of its potential to be a covered land play that provides a net positive cash flow to our funds while we hold it, but also for its various future residential and commercial uses.”