Rockspring Capital Acquires New Braunfels Land; Gold Gym’s Shopping Spree
- Feb 20, 2012
Houston-based Rockspring Capital has acquired 40 acres of land in New Braunfels, at the intersection of Seguin Avenue and Klein Road, with the goal of investing in the housing market in the area. Future plans call for spending $700,000 to prepare the land for residential development. The land purchase consists of 117 lots, according to the San Antonio Business Journal.
Rockspring’s strategy is to acquire land parcels and residential lots in high-growth areas, the Journal noted. The company, in turn, sells lots to homebuilders. Rockspring is already in discussions with homebuilders, according to a company news release. The investment was made on behalf of Rockspring Capital’s seventh fund, Opportunity Land Fund No. 7 L.P.
In other interesting news, Gold’s Gym International has recently acquired 11 Spectrum Athletic Club locations in San Antonio. The deal is officially slated to close by the end of February.
The fitness company asserted in a news release that when the deal closes it will have a total of 20 locations in the Alamo City. It has invested heavily in club enhancements and development in recent months. That includes investing more than $20 million in club improvements, new gym development, franchise growth and acquisitions, all of which demonstrate the momentum behind the company. Gold’s plans to build additional gyms in San Antonio.
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