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Rockspring Appoints New President and Announces Rebranding

Rockspring, a privately-owned real estate investment firm and Reg D fund sponsor formally known as Rockspring Capital, has named Michael Ross as its new president and chief strategy officer.

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Rockspring, a privately-owned real estate investment firm and Reg D fund sponsor formally known as Rockspring Capital, has named Michael Ross as its new president and chief strategy officer. In addition to the recent rebranding, the company plans to launch additional lines of business.

Ross’ new role includes overseeing day-to-day operations as well as the execution of the firm’s new strategies. He joined Rockspring in 2006 as vice president of asset management and entitlements where he oversaw pre-acquisition due diligence and post-closing entitlement activities for their funds.

The company noted that founder and CEO Jim McAlister IV will continue to oversee the business while “deepening the firm’s fundraising and real estate activities.”

“Having worked for us for more than 13 years, Michael knows the business inside and out, has brought to the table many new ideas to grow the firm and has the management and leadership skills to execute them all with great success,” said McAlister.

Rockspring has shifted focus from its traditional investments in suburban raw land (in the Houston, Austin and San Antonio MSAs) to assets in more urban areas targeting residential, retail and industrial developments with a higher price tag.

The company claims that this approach helps to identify investments with faster exit strategies, as well as further diversifying its portfolio, which are important to the company’s investor base.

Rockspring is also launching a new vertical development platform. According to the company, it has “historically has bought assets, added value horizontally and sold to end users, but now intends to extend the development cycle vertically, adding further value to its portfolio as well as opportunities to generate income producing assets.”

The firm’s first retail property in Liberty Hill, Texas (a submarket of Austin) will break ground in the next few months.

In addition, the firm’s partner brokerage firm McAlister Real Estate, also owned by McAlister, is rebranding under the Rockspring name as it looks to grow its brokerage services across various real estate asset classes.

Rockspring invests in the Texas Triangle (Houston, San Antonio and Austin) across various asset classes including, residential, retail and industrial development. The company has launched more than 15 funds since 1993 and has $350 million under management.

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