by Jennifer LoConte
DLP Property Management is currently undergoing a massive growth surge, primarily in multifamily acquisitions. The single month of December brought an impressive $103 million in acquisitions, including nine multifamily acquisitions, totaling 1,552 rental units in four states. Jason Battestelli, Sr. Vice President of DLP Property Management states, “We are poised to grow exponentially, acquiring our largest portfolio of rental communities to expand our workforce housing and lifestyle brands, nationally. This will offer renters in additional markets exactly what they are looking for.”
Over the past two years, DLP’s multifamily portfolio of communities has experienced a strong growth period, acquiring $300 million in assets. While specializing in distressed and value-added assets, DLP has increased its quality of assets with B+ class assets along the Gulf Coast through Northern Mississippi. The recent December 29th acquisition of four communities rounded out the month’s nine acquisitions and introduces DLP to a new class of rental markets along the Gulf Coast and extending into America’s heartland.
Don Wenner, President and CEO of DLP states, “We are excited about the enormous growth opportunity to continue to expand into secondary and tertiary markets that have strong population and job growth. Our focus is to provide affordable housing in these markets and, in turn, provide solid and consistent returns in all market environments for our investors. Our expansion goals and long-term asset management focus will continue into 2018 through disciplined buying, including partnerships with passive and active partners, strong asset management, and execution. We do this through DLP Capital Partners Investment Funds, Direct Private Lending to real estate investors, partnerships, and providing asset management services to real estate investors.”