Jim Stepanian and Summerlin Asset Management, LLC announce 135-room Senior Independent Living development in Houston, TX to break ground in the first quarter of 2016

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Summerlin Asset Management will develop a 135-room Senior Independent Living complex in Houston, Texas.

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The architectural plans include 160,000 square feet of living space and will include 30 single car garages, 30 covered parking spaces, with plans for additional covered parking spaces. Amenities include a 1,200 square foot state of the art movie theater, a 1,200 pool and shaded pool deck, a 1,950 square foot restaurant, exterior dining option with fireplace, BBQ grill, and shaded area, bi-monthly housekeeping, 30 meals per month plus Continental Breakfast meal plan, scheduled social activities, a salon/spa, swimming pool, multipurpose game room, visitor parking, ATM banking center, community living/dining areas for each floor promoting a social atmosphere, and a Bistro offering casual dining along with beer and wine. This new complex is close to North Cypress Medical Center providing easy access for Seniors and their medical care.

Summerlin (http://summerlinam.com/) has retained renowned architect REES Associates Inc. REES has been in business for over 40 years and has completed projects in 42 states and 38 countries. REES continues to be the expert architectural firm in the Senior Living industry. The REES Mission is to deliver exceptional design solutions in an environment that is client focused, innovative, creative and collaborative. The REES Vision is to be the preferred partner for clients in the markets they serve and the career destination for their industry’s top talent.

CEO Jim Stepanian states “There is an under-served market of renters aged 55+ in the Houston area looking for an active lifestyle in an active Senior Community. This development will fill the rental need in the current Senior market, and set a new benchmark for Senior Independent Living communities nationwide.”

About Summerlin Asset Management LLC

Summerlin Asset Management (http://summerlinam.com/) is a diversified real estate investment company. Summerlin’s expertise include First Trust Deed investments, Real Estate developments, and non-performing note pool acquisitions. We serve clients that are seeking to build a conservative portfolio of passive-income investments secured by real property.

Investment Philosophy – Summerlin seeks to generate attractive risk-adjusted returns through investments in collateralized first position mortgages and real estate developments. Our management team executes this strategy by combining sophisticated valuation analysis, pricing discipline, and marketing analysis that benefits Summerlin investors.
Tel.: (928) 854-7747 Arizona or 949 225 4414 Irvine, Ca
Website: http://summerlinam.com/

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Jim Stepanian
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