Keener Investments acquires Montelago Luxury Apartments in Houston
Keener Investments has acquired the Montelago Luxury Apartments — a multifamily property with 312 units in the Bay Area of Houston, Texas, for an undisclosed price.
Keener Management, a fully-owned subsidiary of the real estate investment company will manage the Montelago Luxury Apartments. The property is the eighth acquisition of a multifamily property in the Houston Bay Area for Keener Investments.
Stephen A. Smith – CEO of Keener Investments said: “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.”
The Montelago Luxury Apartments is composed of mainly stucco and stone exterior apartment buildings that have secured gated access. Spread over 13.5 acres, the multifamily property has luxury amenities that include a resort-style pool, coffee bar, 24-hour fitness center, covered poolside patio area, individual enclosed garages, as well as a pet park.
Keener Investments said that it has now executed nearly $350 million in transactions since 2016 and continues to actively buy multifamily communities in Texas.