Keener Investments, a Houston-based investment firm, bought a 312-unit multifamily property in North Houston. The price was undisclosed.
The property, Villas at Valley Ranch, will be managed by Keener Management, a wholly owned subsidiary of Keener Investments. The property is mainly stucco and stone with a Hardiplank exterior in a gated community, according to MultifamilyBiz.
The property is near the intersection of Interstate 69 and the Grand Parkway, which provides quick and easy access to Downtown Houston, George Bush Intercontinental Airport, and The Woodlands. It features 16.4 acres with many luxury amenities, including a resort-inspired pool, covered poolside patio area, fitness center, spacious clubhouse and business center, nature trails, and a pet park.
“We are excited to expand our portfolio into the growing North Houston area with the acquisition of a premier multifamily property in New Caney. The Villas at Valley Ranch Apartments are strategically located at the epicenter of growth for the Grand Parkway in a beautiful master planned community,” said Stephen A. Smith, Chief Executive Officer of Keener Investments.
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Keener Investments has now completed more than $500 million in transactions since 2016, according to the publication, and is set to continue purchasing multifamily communities in Texas.
The Villas at Valley Ranch is situated in the Houston suburb of Valley Ranch, a 1,400-acre master planned development with rapidly growing retail and entertainment offerings including Valley Ranch Town Center, Lake Houston Wilderness Park, Randall Reed Stadium, and many proposed or ongoing commercial developments.
Other amenities include gourmet kitchens with sleek appliances, custom cabinets, and islands in select floor plans, as well as open floor plans with elegant flooring and lighting, extra-large closets, relaxing patios and balconies.
“Villas at Valley Ranch is a Class A, 2008-vintage multifamily property that is well positioned to benefit from the area’s growth trajectory and our proven value-add strategy,” Smith said.
[MultifamilyBiz] — James Bell
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