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SMSI

Summit Management Services, Inc. Purchases Elements at Prairie Center Apartments a 288-unit Multi-housing Community in Brighton, Colorado

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Brighton, Colorado (September 2019) – Ohio developers Edward and Herbert Newman and their partners today announced the purchase of Elements at Prairie View Apartments in Brighton, Colorado, a suburb of Denver. Elements at Prairie Center was constructed in 2018 and is a class-A 288 unit apartment community located proximate to Interstate 76, with easy access to local retail shopping and restaurants, and 20 minutes from downtown Denver as well as Denver International Airport.

Elements at Prairie Apartments features one-, two- and three-bedroom pet-friendly, luxury apartment homes with stainless steel appliances, designer flooring, spacious closets, stackable in-unit washers and dryers and island kitchens. The property offers upscale amenities including a wellness center, outdoor pool, bark park, and detached garages. Geothermal heating and cooling reduces utility costs and supports the eco-friendly lifestyle.

“This is yet another strategic acquisition as we continue to expand our footprint across Colorado,” stated Amit Pollachek, Chief Executive Officer. “Our investments in Colorado have consistently provided value and very attractive returns to our partners.”
The property was purchased for $72 million. Other Summit Management Services, Inc. (SMSI) transactions in Colorado include Summit Riverside Apartments (purchased in 2018), Stonegate Apartments (purchased in 2017), Rams Crossing portfolio (purchased in 2014, Sold in 2019) and Arbors at Sweetgrass (purchased in 2012 and sold in 2017). In total, SMSI owns and manages approximately 4,000 market, student and affordable units across Colorado, Ohio, and North Carolina, both for its own portfolio as well as for 3rd parties.

For additional information please visit https://www.liveatelements.com/
or contact: Mr. Elan Krueger, VP Business Development, Summit Management Services, 730 W. Market Street, Akron, OH 44303, (330) 762-4011, ekrueger@summitmanagementservices.net

Summit Management Services, Inc. Purchases Summerwind Apartments a 180-unit Multi-housing Community in Garner, North Carolina

By | SMSI | No Comments

Raleigh, NC (January 2019) – Ohio developers Edward and Herbert Newman and their partners today announced the purchase of Summerwind Apartments in Garner, North Carolina, a suburb of Raleigh. Summerwind Apartments was constructed in 2017 and is a class-A 180 unit apartment community located proximate to Interstate 40, with easy access to local retail shopping and restaurants, and 20 minutes from downtown Raleigh.

Summerwind Apartments features one-, two- and three-bedroom luxury apartment homes with stainless steel appliances, designer flooring, spacious closets and island kitchens. The property offers upscale amenities including a wellness center with children’s area, outdoor pool, bark park, and detached garages.

“This property is a strategic acquisition as we continue to expand our footprint across North Carolina,” stated Amit Pollachek, Chief Executive Officer. “Our other North Carolina properties have been some of the most successful ventures to date. We’re excited to add this asset and continuing to provide value and a high NOI to our partners.”

The property was purchased for $30.5 million. Other Summit Management Services, Inc. (SMSI) transactions in North Carolina include The Estate at Legends (purchased in 2012), Waterlynn Ridge Apartments (Purchased in 2012, Sold in 2016), Riverwalk Apartment Homes (purchased in 2013), The Fountains at Mooresville Apartments (purchased in 2013, Sold in 2018) and Riverwalk2 Apartment Homes (Developed in 2018).  In total, SMSI owns and manage over 4,000 market, student and affordable units across Colorado, Ohio, and North Carolina, both for its own portfolio as well as for 3rd parties.

For additional information please visit https://www.livesummerwind.com/or contact: Mr. Elan Krueger, VP Business Development, Summit Management Services, 730 W. Market Street, Akron, OH 44303, (330) 762-4011, ekrueger@summitmanagementservices.net

Communiqué to Provide a Portfolio-Wide Communication Service to Student Residents

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AKRON, OH – Summit Management Services, Inc. has announced a partnership with Communiqué to provide an App-based communication service to its portfolio of student housing properties across the nation.

Communiqué offers a unified communication service housed inside a branded mobile App. Property management can send texts, emails and App notifications to residents all at once, via Communiqué’s desktop interface or mobile App. The App is branded as the SMSI App and is available on both Apple and Android products.

The Summit Management team will feature the App and its communication service as an added amenity at their properties, utilizing Communiqué’s management and messaging tools to reach each of their residents in an effective and timely manner.

Read it here: www.studenthousingbusiness.com