Green Beret

After earning a Purple Heart in Afghanistan, Clemson grad conquers development.

At 28, Matt Summers already has managed mixed-use and retail developments valued at up to $120 million, while maintaining a 4.0 grade point average in the master of real estate development program at Clemson University in South Carolina. In his spare time, he buys and manages rental property.

But that's not all. Summers is a decorated veteran of the war in Afghanistan, where as a Green Beret in the U.S. Army Special Forces his actions earned him a Purple Heart, three Bronze Stars and a number of other medals, including an Airborne Badge for his achievements as a paratrooper. He brings a similar resolve and intensity to his real estate career.

Summers, who mastered courses in development and investment as well as site planning, urban design, market analysis and finance, is among a few members of Clemson's real estate development Class of 2009 to garner multiple job offers.

After graduation this month, he will pack up and head to Jackson, Miss., to work for developer and property manager Spectrum Capital LLC. “They made me a great offer, and my wife and I are only too happy to move down to Mississippi and become part of their team,” he says.

A $120 million opportunity

Since last August Summers has traveled between the university in South Carolina and his job in Mississippi, where he manages a neighborhood retail center. He also made at least three trips to Tuscaloosa, Ala., where he has been appointed manager of Spectrum's Dynasty Park, a $120 million mixed-use project that will incorporate 200 to 250 upscale hotel rooms, about 65 luxury condos, up to 25,000 sq. ft. of retail space, and an estimated 30,000 sq. ft. of office space.

“We have assembled the land and we are in the design development stage,” says Summers. After trimming some costs he is “making sure that we have the perfect plan,” he adds. Depending on how well the condo presales go, groundbreaking could take place as early as September, with completion about 26 months later.

In Jackson, he will oversee a $10 million component of another mixed-use project that incorporates a $20 million baseball stadium and a Sam's Club, among other elements. The total project cost is expected to exceed $100 million.

Summers is pleased with the progress he has made in his career. “I've been involved with a series of projects, but right now I'm just starting to take leadership roles, as opposed to acting as a support element.”

And he's enjoying the development process. “Mixed-use is a lot of fun. It has its own set of unique problems and circumstances, and I think that if I can become proficient in developing mixed-use, I will become proficient at any other kind of development just by default. It's a door-opening opportunity to go into other branches of development.”

But he doesn't have his heart set on a particular sector, such as office or industrial. “I'm an opportunist, I guess,” he says. “I don't want to close any doors. I'll go wherever there's opportunity.”

He and his wife have sold two condos and other investment property in Fayetteville, N.C. to prepare for the transition to Mississippi.

Scars of combat

Summers lists his wartime achievements on his resume, although he speaks about the experience with reserve. On October 12, 2006, he was standing next to a truck that exploded, trapping two fellow soldiers inside. His back and arms bear the scars after he and two teammates jumped into the burning truck to rescue the soldiers.

“That's how we got burned,” says Summers. “We went into the truck and pulled the other guys out before it exploded again. The army saw fit to give us a medal.”

In Afghanistan, he also designed combat missions, consulted for the State Department and trained more than 200 Afghan National Army soldiers, leading them on combat missions in Operation Enduring Freedom. More recently, he put his strategic skills to work in developing a project management template for his new employer.

Summers worries about his peers as they endure lengthy job hunts, and is thankful that his career is underway. “I'm fortunate enough that my plans are cast in concrete for the foreseeable future.”