Summit Real Estate Management Inc

Description

Summit Real Estate Management, LLC is a licensed real estate management firm specializing in the management of apartment communities and Homeowner Associations. Summit was incorporated in 1979 under the name SIMMCO Management. Michael McKenna was one of the founding shareholders and emerged as the sole shareholder in 1993, at which time the name of the firm was changed to Summit Real Estate Management, LLC. The company began as a small company, managing properties for its own closely held group of real estate investors. In that role, Summit did everything necessary to find, organize, finance and manage real property for its group. Michael McKenna was and remains the President of the company and its chief operating officer. He brings over 30 years of management and finance experience in multifamily housing. The company has attracted other experienced professionals and operates as "Team Summit". Summit believes its biggest asset is the "Team".

Summit has a "TEAM" of qualified personnel who produce the positive results. The corporate staff consists of its Vice President, Pamela McKenna, who supervises the District Property Managers and corporate support personnel. The District Property Managers (DPM's), in turn, oversee the management of apartment communities and staff. The DPM's all have experience in the multifamily management business and are aided by a staff of administrative personnel for accounting and administrative support, human resources, payroll and training. All employees in the field are Summit employees and receive extensive training and strong supervision to help them achieve their best performance. The employees are provided with a good package of benefits, including medical and dental plans in which they participate in the cost, a 401K participatory plan and life insurance. Our employee retention is well above industry standards. Our accounting staff has a great deal of experience in compiling the data and producing the myriad of reports needed to inform the DPM's of the community's path and to produce the annual budgets and month comparisons.

Summit Real Estate Management, better known as "Summit", is experienced in the management of nearly all types of property investments, and has extensive experience in medium and larger multifamily properties. Summit has established its solid management reputation by aggressively leading the market in rent levels, expense control, and capital improvements, all of which have lead to high investment returns. Along with budgeting and an excellent control process, Summit seeks to find ways to improve revenue by creatively marketing, as well as using well trained management and leasing personnel in order to meet the needs of our Residents. Summit excels by providing realistic budgets and good expense controls, coupled with capital infusions for improvements, and the use of proven systems that bring added revenue. The net income and steady growth of Summit reflects these efforts. The effects have been powerful resulting in improved initial lease-up situations, better Resident retention, higher occupancy and higher scheduled rents.

SRG has extensive experience in financing multifamily properties and acts as the Owners Representative in arranging such financing. The financing can be for new construction, acquisition of an existing property, restructuring existing financing, refinancing existing debt, or other debt such as second mortgages or short term notes tied to specific property needs. SRG has used nearly all types of financing sources, such as Fannie Mae, Freddie Mac, conventional, insurance, construction, bridge and secondary financing.

Summit has a cadre of personable, experienced, and hard working people who comprise the Summit "Team". We are careful with the selection process and then bring the employees into a training program with experienced mentors to guide the growth of its newest Team Members. Our Community Managers have a great deal of experience in the management of multi-family communities and together with their Leasing Agents and Maintenance Technicians, they make the Community a great place for our Residents to live. All employee matters are handled by the Human Resources Department, which maintains the required records and payroll accounting. Summit also sponsors seminars in which experts in leasing, maintenance techniques, and various specific areas such as Fair Housing and the Landlord Tenant rules, come and offer educational lectures to our "Team".

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