| | Business Summary | | Summit
Properties
Inc.
is
a
self-administered
and
self-managed
real
estate
investment
trust
that
conducts
its
business
principally
through
Summit
Properties
Partnership,
L.P.
The
Company's
property
management,
certain
construction
and
other
businesses
are
conducted
through
its
subsidiaries,
Summit
Management
Co.
and
Summit
Apartment
Builders,
Inc.
The
Company
operates,
develops
and
acquires
"Class
A"
luxury
apartments
primarily
in
the
Southeast,
Southwest,
Midwest
and
Mid-Atlantic
States.
As
of
December
31,
2000,
the
Company
owned
or
held
an
ownership
interest
in
64
completed
communities
comprised
of
18,706
apartment
homes,
with
an
additional
2,469
apartment
homes
under
construction
in
seven
new
communities. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Summit
Properties
is
a
real
estate
investment
trust.
As
of
12/31/00,
SMT's
portfolio
consists
of
64
apartment
Communities
with
18,706
apartment
homes.
SMT
also
has
seven
apartment
communities
under
construction
and
in
lease-up.
For
the
six
months
ended
6/30/01,
revenues
rose
8%
to
$98.8
million.
Net
income
applicable
to
Common
rose
14%
to
$24.3
million.
Results
reflect
increased
communities
in
lease-up
and
a
$446
thousand
equity
investment
income
vs.
a
loss
for
the
comparable
period. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| William Paulsen, 54
Co-Chairman,
CEO | $538K | -- | William McGuire, Jr., 56
Co-Chairman | -- | -- | Steven LeBlanc, 43
Pres,
COO | 503K | -- | Michael Schwarz, 40
Exec.
VP, CFO | 423K | $122K | Randall Ell, 43
Exec.
VP, Property Operations | 256K | -- | | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/s/smt.gif)