Keener Investments Acquires 136-Unit Property in Kingwood, TX – Business Wire (press release)

HOUSTON–()–Keener Investments announced today that it has acquired Elm Grove, a
136-unit property, through a negotiated off-market transaction. The
property is located in Kingwood, TX and will be managed by Keener
Management. Keener Construction plans to renovate the unit interiors,
upgrade amenities, and perform light exterior upgrades.

“Kingwood is a highly desirable place to live with very few options for
working class professionals that rent-by-necessity. We hope to provide
both a high-quality and affordable product to this segment of the
market,” said Stephen A. Smith, Chief Executive Officer of Keener
Investments. “Our upgrade package is designed around class “B” and “C”
properties and this asset is positioned well for our platform,” said Mr.

The property is located within the Kingwood master-planned community and
sits next door to Elm Grove Elementary. The property is zoned to Humble
ISD, which is a strong attraction for tenants. The area is family
friendly and has access to parks and recreation, as Kingwood provides a
75+ mile greenbelt system with trails and wildlife preservation.

Kingwood is known as the “Livable Forest” and is the largest
master-planned community in Harris County. The property benefits from
its proximity to major retail and employment and has quick access to
US-59, the Grand Parkway, and the Beltway. The property is near the
George Bush Intercontinental Airport (IAH), the Kingwood Medical Center,
Deerbrook Mall, and the North Park Recreation Area.

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.

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