ST. AUGUSTINE, Florida, April 21, 2022–(BUSINESS WIRE)–DLP Capital, a private real estate investment and finance company, announces the purchase of 7 square apartments in partnership with Avid Realty Partners.
The 402-unit apartment complex located at 7777 Katy Fwy, 77024 Houston, TX symbolizes DLP Capital’s commitment to providing affordable housing to the workforce in the Houston community.
“We remain committed to providing the City of Houston and its working families with housing that is both comfortable and accessible,” said DLP Capital Founder and CEO Don Wenner. “This property will allow hard-working community members to live where they work. As our portfolio continues to expand with acquisitions in the Houston area, we plan to deploy additional capital throughout the city and around the area. ‘state in the future.’
Originally built in 2009 by Trammell Crow Residential and totaling 402 units, this stylish mid-rise wraparound property features many resident-centric amenities and is conveniently located in Houston’s Memorial neighborhood. one and two bedroom apartments. Residents have access to on-site parking, two swimming pools, a fitness center, yoga room, business center, and a quiet room with billiards, shuffleboard, and board games. arcade.
The acquisition was made in conjunction with Avid Realty Partners, a commercial real estate investment firm. Avid Realty Partners is a member of the exclusive DLP Elite Impact Housing community of high-growth, high-impact real estate operators.
Craig Berger, Founder and CEO of Avid Realty Partners, said, “We are delighted to complete this purchase with DLP Capital. This is a beautiful core-plus asset, zoned with strong schools and with convenient freeway access. We plan to streamline operations. while increasing cash flow and appreciation. As a DLP Elite Impact Housing member, we look forward to learning from DLP and creating more offerings like this in the near future.
This is the fourth multi-family property acquisition by Avid Realty Partners in Houston totaling over 1,200 units, delivering scale and operational efficiency. Avid Realty Partners worked with Dr. Jay Levy as co-sponsor of this transaction.
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
About Avid Real Estate Partners
Founded by an award-winning Wall Street stock analyst, Avid Realty Partners brings industry-leading analytics, risk management and institutional sophistication to multifamily real estate investing, enabling us to deliver strong risk-adjusted returns to investors. We are passionate about owning multi-family apartments that provide the best possible customer experience and the pursuit of investor profit while maximizing stakeholder value. The company has acquired over $125 million in real estate over the past few years and continues to expand its portfolio of acquisitions and corporate infrastructure to meet the housing and lifestyle needs of our residents.
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