McAlister Real Estate, a privately-owned real estate brokerage headquartered in Houston, today announced that it represented and closed the sale of an owner’s 157-acre tract of land in Katy, Texas, northwest of Houston.
The property was sold to the Katy Independent School District (KISD) and is located off of Katy Hockley Rd., sharing two borders with Newland Communities’ master-planned residential community Elyson and is west of Grand Parkway. Acquired by an affiliate of Rockspring Capital, L.L.C. in 2014, the property is in the path of growth and future development.
“Katy’s fast growing population and school district, which are outpacing other markets around the state in terms of growth, made this a strong sale for the buyer,” said Jim McAlister IV, President & CEO of McAlister Real Estate. “We had many prospects interested in the space, especially from single family developers and builders. But in the end, working with the district on this deal was a great outcome for us and the owner.”
McAlister Real Estate’s Harrison Kane, James Kadlick, Matt Herring, and Chris Hutcheson represented Rockspring Capital, L.L.C. in this sale. The Katy Independent School District was consulted by Jared and Fred Fargo of Consolidated Property Advisors.