DLP Capital, a private real estate investment firm headquartered in St. Augustine, Florida, said it has closed $108.4 million in Freddie Mac refinancing loans across three multifamily properties owned by the DLP Housing Fund, spanning Pennsylvania and Texas.
The financings include a $44.1 million refinancing for Morgan’s Landing, a 350-unit community in La Porte, Texas; a $41.0 million refinancing for Dream Lehigh Valley, a 200-unit property in Wind Gap, Pennsylvania; and a $23.3 million refinancing for DLP Kutztown, a 184-unit multifamily community in Kutztown, Pennsylvania.
Capital One provided the refinancing loans for Morgan’s Landing and Dream Lehigh Valley, with Michael Maidhof originating both transactions. DLP said each of those loans carries a five-year term, 12 months of interest-only payments, and a 35-year amortization schedule.
The DLP Kutztown refinancing was originated by Michael Casey of M&T Realty Capital Corporation. DLP said that loan features a five-year floating-rate structure and a 24-month interest-only period, and was structured as a cash-out refinance.
DLP Capital said the refinancing process spanned several months and is expected to generate meaningful debt service savings for the DLP Housing Fund, while also providing additional flexibility and lower near-term debt service obligations. The firm also characterized the transactions as a step forward in its relationship with Capital One.
DLP Capital said it has more than $5.25 billion in assets under management and focuses on investing in, developing, and financing multifamily and single-family rental communities. The firm was founded in 2006 by Don Wenner in Pennsylvania’s Lehigh Valley.
KEY QUOTES:
“These refinances not only allow DLP Capital to effectively execute their business plan, but represent the launch of an expanded relationship between Capital One and the DLP team.”
Michael Maidhof, Senior Vice President and Head of Agency Production, Capital One
“As the product of a rigorous, months-long process, these refinancings will deliver significant debt service savings to the DLP Housing Fund.”
Harshit Shihara, Director of Finance Partners & Debt Placement, DLP Capital
“This cash-out refinance for DLP Capital demonstrates their exceptional ability to execute on their business plans on behalf of investors. M&T Bank looks forward to supporting DLP Capital’s growth in 2026.”
Michael Casey, Senior Vice President, M&T Bank
“This milestone is a testament to the quality of the DLP Housing Fund’s portfolio. These proactive refinancings, which generate greater flexibility and lower near-term debt service obligations demonstrate the strength of our in-house debt placement team and underscore our commitment to investor success.”
Don Wenner, Founder and CEO, DLP Capital
