HOUSTON – (Realty News Report) – Keener Investmentsacquired a 150-unit multifamily property in Clear Lake City at 17700 El Camino Real. 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.
Keener Investments, a Houston-based company,has now completed over $160 million in transactions since 2016 and is continuing to actively purchase multifamily communities in Texas that fit itsvalue-add strategy.