SMSI Blog

Akron, OH – May 27, 2020 – Summit Self Storage Group, LLC, an affiliate of Summit Management Services, Inc. (SMSI), proudly announced the acquisition of a self storage facility located in Loveland, Colorado today. This transaction marks their 4th location nationwide and their first location in Colorado.

This new location, Summit Self Storage- Loveland, is located at 6651 N. Franklin Ave. in Loveland, Colorado. Formerly known as Stor Safe Storage, this facility was constructed in 2018 and features nearly 49,000 net rentable square feet and a mix of non-climate and climate controlled units with a variety of unit sizes.

“We are truly excited to expand our footprint outside of the Northeast Ohio market and help serve the storage needs of the growing Northern Colorado market,” shared Brett Porter, President/COO. “Given our direct affiliation with SMSI, we plan to continue to expand in all markets in which SMSI also manages apartment communities, including markets in Colorado, Ohio, and North Carolina. This will allow us one more way to provide our customers with the superior customer service experience that we strive to deliver.”

While the facility is relatively new, Summit Self Storage has plans to immediately upgrade the facility to enhance the customer storage experience. This includes upgraded hands-free gate access, with their Bluetooth enabled smartphone app, Storage Genie. They have also expanded the customer service phone hours, allowing customers to call for any customer service needs well beyond normal business hours. Summit Self Storage will also be implementing a self-service kiosk onsite that will allow customers to rent units, purchase locks and makepayments 24/7. This Summit Self Storage location (and all other locations) currently offers Contactless Rentals and Bill Payment online to ensure the health and safety of their customers and employees during the COVID-19 pandemic.

Summit Management Services, Inc., headquartered in Akron, OH, is a family-owned real estate management company. Its roots date back to 1979, when founder Herbert Newman began a successful career, purchasing, renovating and operating numerous properties in SMSI’s original submarket. Since then the focus has turned to high-end, luxury class A and B apartment communities and SMSI currently owns/manages approximately 4000 apartment units throughout Ohio, Colorado and North Carolina. After developing and managing its first self storage facility in 2005, Summit Self Storage Group, LLC was established in 2018 with the sole purpose of developing and growing the company’s self storage portfolio. With a track record spanning over 40 years and approaching $1 billion in transactions, the Summit team has extensive experience in property acquisition, development and management. Please visit www.SummitManagementLiving.com and www.SummitSelfStorage.com for more information.

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, [email protected]

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 3^rd 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, [email protected]