Source: Keener Investments /#Apartments #Multifamily
TEXAS CITY, TX - Keener Investments announced that it has acquired The Breakers, a 272-unit property located in Texas City, TX. The property will be managed by Keener Management and Keener Construction will renovate the unit interiors, upgrade amenities, and perform light exterior upgrades.
“The Breakers represents our third acquisition in the Houston Bay Area,” said Stephen A. Smith, Chief Executive Officer of Keener Investments. “This acquisition is consistent with our value-add approach of improving communities with our in-house management and renovation teams.”
The Breakers is a 1983 garden style property located on a lakefront in the rapidly growing Galveston County less than one mile from I-45. The property boasts rich amenities including lake views, private fishing piers, a swimming pool, outdoor fire pits, lakeside jogging trail, a business center, and a fitness center.
The property benefits from its proximity to major retail and employment such as NASA, Clear Lake Regional Medical Center, UTMB, and the shipping and petrochemical industries located at the Port of Texas City.
Keener Investments has now completed over $110 million in transactions since 2016 and is continuing to actively purchase multifamily communities in Texas that fit our value-add strategy.