Greeley, Colorado (December 2021) – Ohio-based Summit Management Services, Inc. and its partners announced the purchase of Ten West Apartments in Greeley, Colorado, one of the fastest growing cities in the United States. Ten West is a recently constructed Class A 264-unit apartment community that will take its place among the most desirable places to live in the Weld County submarket. The property is located within the highly integrated and walkable City Center West master planned development and is just minutes from the US-34 and I-25 interchange, providing seamless access to downtown Greeley, Northern Colorado, and the greater Denver metro’s employment hubs.
Ten West features a mix of spacious one-, two- and three-bedroom units and a full amenity package, including a brand-new resident clubhouse with entertainment area and beverage station, state-of-the-art fitness center, parcel lockers, pool and spa, volleyball court, fire pit, dog wash and park, and bike repair station, as well as 64 detached garages. The units are fitted with stainless steel appliances, designer flooring, spacious closets, in-unit washers and dryers, and granite countertops.
“Our acquisition of Ten West is an exciting addition to our Colorado portfolio, with its highly desirable location in the Northern Colorado market and its Class A finishes,” stated Amit Pollachek, Chief Executive Officer. “This acquisition reflects our continued focus on pursuing investment opportunities in locations that present attractive employment and lifestyle opportunities for our residents. Since we entered the Colorado market in 2008, our investments here have continued to provide value to our partners and we plan to pursue additional opportunities for expansion.”
The property was purchased for $80 million. Other recent Summit Management Services, Inc. (SMSI) transactions in Colorado include Incline 45 Apartments (purchased in June 2021), The Elements at Prairie Center (purchased in 2019), Summit Riverside Apartments (purchased in 2018) and Stonegate Apartments (purchased in 2017), among others. In total, SMSI owns and manages approximately 4,000 market rate and affordable units across Colorado, Ohio, and North Carolina, both for its own portfolio as well as for 3rd parties. For additional information on the property, please visit www.LiveTenWest.com.
About Summit Management Services, Inc.
Established in 1980, Summit Management Services, Inc. (“SMSI”) is a privately held, vertically integrated multifamily investment and management company focused on high-quality multifamily communities in various markets throughout the Southeast, Midwest, and Western states. Headquartered in Akron, Ohio, SMSI is led by a senior management team with an average of over 25 years’ experience in all stages of the real estate cycle and has completed apartment transactions in excess of $1billion. For more information, please visit our website at www.summitmanagementliving.com
Contact:
Mr. Elan Krueger
VP Business Development
(330) 762-4011
[email protected]
