HOUSTON–Rockspring Capital, a privately owned real estate investment firm headquartered in Houston, has acquired a four-acre site located at the corner of Yale Street and the North Loop 610, within the Garden Oaks and Greater Heights neighborhoods.

“The whole city is seeing explosive growth, and acquiring a property in this transitioning Houston neighborhood will have the potential to add significant value to our portfolio,” Jim McAlister IV, president and CEO of Rockspring Capital, told GlobeSt.com. “Our all-cash model, acquisition expertise and homegrown knowledge of Houston gave us the edge in closing this deal before others.”

The property is a redevelopment parcel, situated among multiple single-family and commercial developments within Houston's inner loop, four miles northwest of downtown.

“Not only is this property in a great location, it has the additional appeal of a positive cash flow from an existing lease,” says J. Beau Ryan, senior vice president and COO of Rockspring. “We like the demographics of the transitioning area and believe in the near future, the continued metamorphosis will allow us to sell the property at a value that will generate a strong return. We're excited about the potential of this property.”

In addition, McAlister says the land is in an “ideal location for mid-rise apartments or mixed-use retail, which helps to broaden our exit options.”