HOUSTON--(BUSINESS WIRE)--Keener Investments announced today that it has acquired a 66-unit property in an off-market purchase. The property is located in the Bellaire area, which is well known for its close proximity and ease of access to the Houston Medical Center.
“Our ability to source off-market opportunities is central to our business strategy. We are committed to building strong relationships in the industry and the community, and by focusing on building relationships first, solid deal opportunities follow,” said Stephen A. Smith, Founder and Chief Executive Officer of Keener Investments. “The property in Bellaire was an excellent opportunity to acquire a solid asset with growth potential in an area that is known to be largely uncorrelated with the performance of the energy sector.”
The property is centrally located and provides residents with easy access to all of Houston’s major employment hubs via major thoroughfares such as US-59, I-610, and Beltway 8. In addition to superb access to the metro, the area is home to many major corporation headquarters and the property is zoned to the highly regarded Herod Elementary School and Bellaire High School.
Keener Investments brings a level of deal sophistication and attention to detail that is typically reserved for large scale transactions to the multifamily market. “We serve the sophisticated investor that is accustomed to dealing with top professionals,” said Mr. Smith.
Prior to founding Keener Investments, Stephen A. Smith was an investment banker in the energy sector. He started his career in investment banking at Lehman Brothers, was later recruited to Citigroup, and then co-founded the investment banking boutique Clean Energy Capital. At Clean Energy Capital, Mr. Smith advised clients on high profile projects, with transactions totaling over $17 billion. He made his first multifamily investment in 2011, and closed his first transaction as sponsor at Keener Investments in 2015.
About Keener Investments:
Keener Investments is a value-add multifamily investor located in Houston, TX. Keener’s strategy involves targeting properties that offer a strong balance of current cash flow and future appreciation. We are currently focusing on the Houston and surrounding market areas. As sponsors, we provide all of the 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.keeneerinvest.com.