Keener Investments Acquires 272-Unit Property in Texas City, TX
HOUSTON--(BUSINESS WIRE)--Sep 27, 2018--Keener Investments announced today 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.
About Keener Investments:
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. As sponsors, we provide all startup capital for every transaction and significant amounts of capital for acquisitions. Keener is committed to investing in every deal we sponsor to ensure our profitability is aligned with our investors.
Please visit: www.keenerinvest.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005908/en/
CONTACT: Keener Investments
Stephen A. Smith, (713) 893-8478
Chief Executive Officer
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ARCHITECTURE INTERIOR DESIGN PROFESSIONAL SERVICES LANDSCAPE FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Keener Investments
Copyright Business Wire 2018.
PUB: 09/27/2018 04:19 PM/DISC: 09/27/2018 04:19 PM