Houston investor buys prime Leander land for someone to develop

Nov 24, 2014
Austin Business Journal

The increasing development activity in Leander has attracted Rockspring Capital to purchase a 28-acre land parcel near Old FM 2243 and U.S. Highway 183

Rockspring Capital is a Houston-based Texas land investment firm founded by The McAlister Co.Rockspring plans to take the Leander land through the platting process and then sell it to a multifamily developer. Currently the land is zoned for apartments and retail uses

Leander is one of the most active homebuilding markets in Central Texas, and the Austin Business Journal recently reported on plans by the Crescent Communities to build a large master-planned community there. Earlier this year we reported on the North Austin suburb's housing boom and chronicled it from a helicopter

James Kadlick of McAlister Real Estate Services handled the transaction. Bruce Nakfoor of Houston was the seller

Earlier this year Rockspring purchased a retail-zoned property two miles west of the Hill Country Galleria in western Travis County

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