Source: Keener Investments /#Apartments #Multifamily
HOUSTON, TX - Keener Investments announced that it has acquired a 314-unit multifamily portfolio in League City, TX. The properties will be managed by Keener Management, and Keener Construction will renovate the unit interiors, upgrade amenities, and perform light exterior upgrades.
“This portfolio is a significant addition to our growing footprint in the Houston Bay Area,” said Stephen A. Smith, Chief Executive Officer of Keener Investments. “We continue to seek acquisitions that allow us to leverage our management and renovation teams and this portfolio adds scale to our ongoing efforts in the immediate area.”
The portfolio consists of two multifamily communities, one is named The Shore (176-units) and the other is named Harbor Walk (138-units). Both properties are Class-B, were built in the mid-1980s, and have an average unit size of 880 square feet. Both properties boast rich amenities that include a swimming pool, fitness center, business center, and private playground.
The properties benefit from their 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. Both properties are zoned to Clear Creek ISD.
Keener Investments has now completed over $150 million in transactions since 2016 and is continuing to actively purchase multifamily communities in Texas that fit our value-add strategy.