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Summit Bolsters Leadership Team, Names Foss President

Summit Real Estate Group is pleased to announce that Brad Foss has joined the firm as President. CEO John Ross, a 40-year industry veteran who founded Summit in 1995, will continue in his leadership role. The company is adding to its leadership team at an opportune time as the firm has its sights on several important initiatives related to its investment platform.

“We are excited about the short and long-term opportunities in front of us,” said Ross. “We have successfully advanced our business plans in recent years because of the quality of our team, our deep market and deal-making knowledge, investor and lender relationships, and our people-centric approach. We believe a degree of distress in our industry as a whole will lead to opportunities in the industrial sector, despite its strong performance. Those with the knowledge, experience, the right team and relationships, and capital will be able to take advantage of opportunistic situations that arise.”

Summit is actively deploying capital from its current fund, Arrowrock US Industrial Fund IV, LP. With $475 million of industrial warehouse projects completed or underway, and a pipeline of $300 million, the firm is on pace to reach its $1 billion goal by the end of 2025.

“Our investment partners are not looking for firms that are scaling back or delaying growth initiatives; the message we hear is that they want to work with firms that are specialists and have taken advantage of market stress in past cycles,” continued Ross. Mark Billeaud, Founding Partner and Head of Investments added, “While others may have trepidation, we are entering 2024 with optimism and confidence to execute our business plan. And, most importantly, we are having excellent leasing success as we develop shallow-bay buildings throughout the Southeast.”

Scott “Murphy” Reese, Founding Partner and Head of Construction & Development noted, “Brad’s leadership, operating experience, and extensive relationships will position Summit well for an exciting next stage of growth.”

“Summit operates outside of the St. Louis area for the most part and therefore flies underneath the radar so-to-speak locally,” said Foss. “Getting to know the team and gaining an understanding of the full scale of the business has been eye-opening. I very much look forward to helping build upon what the Summit team has already accomplished.”

Foss was previously the President and CEO of The DESCO Group, a vertically integrated real estate operating, development, and investment company, based in Clayton, MO. During his nearly 10 years at DESCO, Foss led a team of 36 professionals who oversee the ownership and operation of more than 40 neighborhood and grocery-anchored shopping centers. Before DESCO, Foss spent 12 years with M3 Capital Partners, a global private equity capital advisory firm headquartered in Chicago and London. Foss began his career in real estate investment banking with JP Morgan in New York.