DLP Capital acquires “The Proper” apartment complex in Houston

ST. AUGUSTINE, Florida, February 16, 2022–(BUSINESS WIRE)–DLP Capital, a private real estate investment and finance company, announces the purchase of The cleana 235-unit apartment complex in Houston, located at 4971 Martin Luther King Jr Blvd, Houston, TX 77021. The property will be renamed DLP itselfsignifying DLP Capital’s continued commitment to bringing workforce housing to the City of Houston.

Built in 2017, DLP Proper is just a five-minute drive from the University of Houston campus. Prior to DLP’s purchase, the apartment complex served as a student residence with 700 beds. DLP Proper will convert some of the units into traditional apartments, creating a mix of student and worker accommodation.

The property has twelve different floor plans including one, two, three and four bedroom apartments. Residents have access to the 24-hour fitness center, private outdoor pool, sand volleyball court, dog park, computer lounge, outdoor fire pit, and grilling areas. DLP Proper also offers residents a private and exclusive shuttle service to and from all classrooms on campus.

DLP’s acquisition of the apartment complex is the latest step in its ongoing plans to provide natural, affordable labor housing for hard-working members and diligent students of the Houston community.

“A key component of our investment strategies is the Texas housing market,” said DLP Capital President and CEO Don Wenner. “As our Houston portfolio continues to grow, our community investments are also growing. We plan to position additional capital over the next few years in debt and equity investments, and Houston will figure prominently. on our priority list. Our mission is to provide housing solutions that are clean and affordable for local students and working families, and this purchase is a perfect opportunity to do both.”

About DLP Capital

DLP Capital is a privately held real estate investment and financial services firm focused on creating IMPACT through the acquisition, development and establishment of relationships, homes, leaders and organizations. DLP Capital has a wide range of business and corporate divisions including lending, investment funds, sales, leasing, title services, property management, construction management, development and loan servicing. Through the Elite Execution System, along with its proprietary membership platforms focused on scaling business, investment housing, family and wealth, DLP Capital is impacting lives in enabling its customers to choose, create, grow and sustain prosperity. For more information, visit DLPCapital.com

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Press release
Rex Pug
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