AUSTIN, TX– Houston-based Rockspring Capital acquired a 22.52-acre retail site in the Bee Cave area outside Austin, Texas in an all cash transaction. Rockspring plans to invest approximately $1.4 million in the property.

The tract is located on the Route 71, two 2 miles west of the Hill Country Galleria.  

“Austin's booming economy and population growth is driving tremendous retail demand in this flourishing submarket,” said Jim McAlister, President and CEO of Rockspring Capital. “We were receiving a lot of interest from retailers even before the deal closed.”

According to Rockspring, demand in the area will increase when Bee Caves begins to construct more than 6,400 new homes. This site is intended to provide future residents with several restaurants, banks, and other services.

“We were aware of this opportunity before others and able to jump on it quickly because of our local real estate experts and all-cash model,” McAlister said. “We're looking forward to selling off these pad sites soon which will quickly reward our investors.”

Rockspring Capital, a privately-owned real estate investment firm, is focused acquisitions of land parcels and residential lots in high growth areas such as Houston, Austin, San Antonio and Dallas/ Fort Worth.