David Orr and Andrew Lake to Carry Out Firm’s Expansion, New Asset Strategy, Services and More in Central Texas
Rockspring, a Houston-based, multi-disciplined real estate firm targeting markets within the Texas Triangle (San Antonio, Austin and Houston), today announced its San Antonio expansion with the opening of a new office in the city’s northwest Colonnade Centre. As a part of the firm’s new growth strategy, which includes expanded target assets, lines of business, rebranding, and more, the expansion will provide a greater depth of service and personnel to Rockspring’s operations in Central Texas.
The expansion is led by 41-year commercial real estate veteran David Orr, Regional Director – Central Texas, who’s been overseeing the firm’s real estate activities and growth since joining in 2015 and brings a vast array of experience in commercial brokerage, development and finance. He is accompanied by Andrew Lake, who joined the firm in 2019 as Operations Director – Central Texas and has a unique background of startup operations management, urban product selection and product development. Orr and Lake will not only spearhead the growth in the Alamo City, but will also drive the development of the firm in Austin as well in the coming months.
“As we enter a new era for Rockspring, our development in the dynamic Central Texas region is key to our success,” said Michael Ross, Rockspring’s President and Chief Strategy Officer. “David and Andrew have done a tremendous job growing our presence in San Antonio, which will propel us to add more talent and increase investment opportunities in residential, retail and commercial properties in the region. Their experience, skillset and network will play an integral part in elevating Rockspring to be the premier real estate investment firm of Texas.”
Formally Rockspring Capital, 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. This approach, which will be executed in Central Texas by Orr and Lake, helps to identify investments with faster exit strategies as well as further diversifies Rockspring’s portfolio, a growing importance to the Company’s investor base.
“I’ve been very fortunate to be a part of Rockspring’s success over the past few years and I’m extremely excited to help grow our presence and investment model in this market,” said Orr. “We are very bullish on Central Texas and I’m confident that the expansion of our services and personnel will strengthen our ability to provide a successful platform for our clients and investors for many years to come.”
The firm also launched a new vertical development platform. The Company 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.
Rockspring’s investment roots go back 40 years with more than 15 funds and $350M under management. The Company has achieved tremendous growth adding five employees in the past five years and will announce the opening of its Austin office later this year.
Rockspring is a Houston-based, multidiscipline real estate firm with a history of investing since 1993. The Company’s expertise in the Texas Triangle (Houston, San Antonio and Austin) provides investors with local expertise in the $1.3 Trillion economy in Texas across various asset classes, including, residential, retail and industrial development. The Rockspring team’s diversification in geography, deal size, asset class and leverage affords its investor base a wide array of investments to fit their strategy.