FOR IMMEDIATE RELEASE

Elan Krueger, Vice President, Business Development | [email protected]
Summit Management Services, Inc.
110 N. Washington Street #330-29, Rockville, MD
(301) 970-9276 office

Summit Management Services, Inc. Opens East Coast Regional Headquarters

(Rockville, MD – April 8, 2016) – Ohio developers Edward and Herbert Newman and their partners today announced the grand opening of a new corporate office in Rockville, Maryland, that will serve as the East Coast Region headquarters of Summit Management Services, Inc. (SMSI) and its affiliated investment company, Summit MultiCapital, LLC.

“We’re excited to open a new regional headquarters, from which we will be providing third party property management services and investment opportunities for new property acquisitions,” commented, Elan Krueger, Vice President, Business Development for SMSI and VP of Investor Relations for SMC. “We are looking to grow our third party management business in addition to raising capital for new acquisitions.”

SMSI, based in Akron, Ohio, professionally manages over 4,000 housing units in Ohio, Colorado and North Carolina. Their success is based on a simple philosophy, making families feel at home and focusing on superior resident satisfaction. SMSI has built a unique, proprietary management strategy and model that achieves higher occupancy, 97% across all their properties. SMSI’s current portfolio consists of 27 properties totaling over $300 million in value.

Summit MultiCapital, LLC (SMC) was formed in 2010 as the acquisition and financing arm of SMSI. Over the past three decades, SMC and its predecessor investment companies have purchased and operated 31 properties across the Midwest, Southeast and Western United States. SMC is finalizing a Private Placement Memorandum to raise an expected $50m to purchase multifamily units in its target markets. “We are excited about this equity raise, we have a great track record of providing strong cash on cash returns to our investors,” said Krueger.

For additional information, please visit www.summitmanagementliving.com or
contact: Mr. Elan Krueger, Summit Management Services, 110 N. Washington Street, #300-29, Rockville, MD 20850
(301) 970-9276 [email protected].