DLP Real Estate Capital announced it has surpassed $2 billion in capital under management across its sponsored real estate credit and equity funds, marking a new milestone for the St. Augustine, Florida, headquartered private real estate investment firm with additional offices in Bethlehem, Pennsylvania, and Asheville, North Carolina.
The firm said the $2 billion figure spans its sponsored vehicles, including the DLP Housing Fund, DLP Lending Fund, DLP Preferred Credit Fund, DLP Building Communities Fund, and DLP LivingFully Community Fund. DLP Capital also reported that it has more than $5.5 billion in assets under management.
DLP Capital positioned the milestone as a reflection of its growth since the firm’s founding in 2006 and its expansion into sponsored equity strategies beginning in 2013. The company said it serves nearly 4,000 investor families and plans to continue focusing on financing attainable multifamily housing developments that it describes as affordable for working families in high demand markets.
In describing its platform, DLP Capital said it is approved to lend in 37 states and provides senior loans, mezzanine financing, and preferred equity to what it called mission-aligned, institutional-quality real estate sponsors. The firm added that it also operates real estate directly, stating it owns more than 26,000 units, with more than 17,000 units in operation and about 9,500 units in construction, development, or pre-development. Over its operating history, DLP Capital said it has developed, acquired, improved, and sold more than 6,500 rental units.
DLP Capital framed its next phase around addressing what it described as the nation’s affordability and housing supply gap, emphasizing plans to scale the resources and capabilities it deploys toward building “Thriving Communities.”
KEY QUOTES
“This is a watershed moment for DLP Capital. 20 years after founding DLP Capital in 2006 and a little over a decade after launching our first sponsored equity fund in 2013, we’ve reached $2 billion in capital under management (CapUM) and over $5.5 billion in assets under management (AUM),1” he continues. “We’re endlessly grateful to the nearly 4,000 investor families2 who have trusted us to steward their wealth.”
“Our company is now the biggest it’s ever been and the smallest it will be,” says Don. “As we cross this momentous $2 billion milestone, we’re also thinking of the work that lies ahead. Closing America’s widening affordability and supply gap will require additional time, talent, and treasure. We endeavor to be the country’s best platform for all three ingredients.”
Don Wenner, Founder And CEO, DLP Capital
