What is Summit Properties?
Established in 2004, Summit Properties, formerly Summit Property Management Group, specializes in the development, leasing, and comprehensive property management of both affordable and market-rate apartment buildings. With a portfolio nearing 1,400 apartments, the company manages a diverse range of housing communities, including those supported by HUD Section #8, Low Income Housing Tax Credit projects, Rural Development initiatives, affordable family housing, and senior housing. The company's integrated approach, encompassing ownership, development, and management, allows for a holistic project lifecycle, from initial concept to full operational status. Summit Properties is committed to maintaining well-kept apartment buildings that benefit owners, renters, and the surrounding communities. The development arm of Summit Properties, with roots tracing back to 1977, has a proven track record of developing over 1,500 residential units, 250,000 square feet of commercial space, and over 200 homes and townhomes. Current development efforts, led by CEO Tom Getz and COO Zeke Davisson, are focused on mixed-income properties, particularly those utilizing state and federal housing programs.
How much funding has Summit Properties raised?
Summit Properties has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
What's next for Summit Properties?
The substantial capital infusion, reflected in the $350K total funding, positions Summit Properties for accelerated growth and strategic acquisitions. This large-scale, late-stage funding, coupled with the recent major strategic investment, indicates a focus on scaling operations and potentially expanding its geographic footprint or service offerings. The company's emphasis on mixed-income properties and affordable housing solutions, supported by state and federal programs, suggests a continued commitment to addressing housing needs while pursuing robust financial returns. Future initiatives will likely involve leveraging this capital to enhance its development pipeline and further solidify its market leadership in the New England region.
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