Southwest Houston Community Gets New Management after Changing Hands
- May 18, 2016
Houston—Residential management, development, and investment company Allied Orion Group has been selected to manage Braeswood Plaza, a garden-style multifamily community located in the Houston-adjacent city of Bellaire.
The pet-friendly Braeswood Plaza, which was acquired this April by Keener Investments in an off-market transaction, is a two-story, 66-unit apartment community offering easy commuting access to US-59, I-610, and Beltway 8 for Houston’s major employment clusters.
“We chose Allied Orion Group to manage Braeswood Plaza because of their extensive marketing and management experience and their desire to expand their portfolio in the Bellaire/Texas Medical Center market,” said Stephen Smith, principal of Keener Investments, in a prepared statement.
Situated within a 20-minute drive from the Texas Medical Center, the property sits at 5430 Birdwood Rd., less than two miles from the Target and JCPenney-anchored Meyerland Plaza Mall.
According to Yardi Matrix, Braeswood Plaza was completed in 1970 and offers one studio, 62 one-, and three two-bedroom units ranging between 550 and 750 square feet. With a total living area of 41,660 square feet and a 95.5 percent occupancy rate, the community sits on a 1.5-acre lot. Common area amenities include a fitness center, clubhouse, laundry facilities, 85 grade-level parking spots, individual air conditioning, and private balconies or patios.
Houston-headquartered Allied Orion Group offers acquisition and development, construction, and property management services. Present in 44 cities with a 117-property, 20,304-unit portfolio, the company also has regional offices in Atlanta, Dallas, Denver, and San Antonio.
Images courtesy of Yardi Matrix