KINGWOOD, TX - Keener Investments announced that it has acquired Elm Grove, a 136-unit property, through a negotiated off-market transaction. The property is located in Kingwood, TX and will be managed by Keener Management. Keener Construction plans to renovate the unit interiors, upgrade amenities, and perform light exterior upgrades.
“Kingwood is a highly desirable place to live with very few options for working class professionals that rent-by-necessity. We hope to provide both a high-quality and affordable product to this segment of the market,” said Stephen A. Smith, Chief Executive Officer of Keener Investments. “Our upgrade package is designed around class “B” and “C” properties and this asset is positioned well for our platform,” said Mr. Smith.
The property is located within the Kingwood master-planned community and sits next door to Elm Grove Elementary. The property is zoned to Humble ISD, which is a strong attraction for tenants. The area is family friendly and has access to parks and recreation, as Kingwood provides a 75+ mile greenbelt system with trails and wildlife preservation.
Kingwood is known as the “Livable Forest” and is the largest master-planned community in Harris County. The property benefits from its proximity to major retail and employment and has quick access to US-59, the Grand Parkway, and the Beltway. The property is near the George Bush Intercontinental Airport (IAH), the Kingwood Medical Center, Deerbrook Mall, and the North Park Recreation Area.