HOUSTON, TX - Keener Investments announced today that it has acquired a 150-unit multifamily property in Clear Lake City, TX. The property will be managed by Keener Management and Keener Construction will renovate the unit interiors, upgrade amenities, and perform exterior upgrades.
“Terrace Villas is our fifth closed transaction in the Houston Bay Area,” said Stephen A. Smith, Chief Executive Officer of Keener Investments. “We have a strong management team with local market knowledge. This acquisition is consistent with our value-add strategy and reinforces our portfolio presence in the area.”
Terrace Villas is a 1970s garden style property with an average unit size of 831 square feet. The property benefits from high visibility on El Camino Real in Clear Lake and has easy access to Interstate 45, Bay Area Boulevard, NASA Parkway, and Highway 3. The property is close to the NASA-Johnson Space Center, Baybrook Mall, and the Medical Center of the South.
Keener Investments has now completed over $160 million in transactions since 2016 and is continuing to actively purchase multifamily communities in Texas that fit our value-add strategy.
Keener Investments is a fully integrated real estate investment company located in Houston, TX. Keener’s strategy involves targeting properties that offer a strong balance of current cash flow and future appreciation.