Source: Keener Investments
HOUSTON, TX - Keener Investments announced that it has acquired a 312-unit multifamily property in the Bay Area of Houston, TX. The property will be managed by Keener Management, a wholly owned subsidiary of Keener Investments.
“The Montelago Luxury Apartments is our eighth acquisition of multifamily property in the Houston Bay Area,” said Stephen A. Smith, Chief Executive Officer of Keener Investments. “Montelago is a Class A, 2004-vintage multifamily property that is well positioned to benefit from both strong submarket fundamentals and our proven value-add strategy, which is known as the Keener Cheeseburger.”
Montelago is primarily composed of stucco and stone exterior apartment buildings that sit behind secured gated access. The community is on 13.5 acres and has luxury amenities such as a resort-style pool, covered poolside patio area, 24-hr fitness center, individual enclosed garages, coffee bar, and a pet park.
The location is excellent for tenants that work in the immediate area and for commuters. It has convenient access to some of the largest employment centers in Houston including Downtown, the Port of Houston, the Texas Medical Center, Hobby Airport, and the Petrochemical Corridor. Tenants will be near attractive retail and entertainment options including the Baybrook Mall, Kemah Boardwalk, and Clear Lake.
Keener Investments has now completed approximately $350 million in transactions since 2016 and is continuing to actively purchase multifamily communities in Texas.