DLP Capital acquires 200-unit multifamily community in Arkansas
DLP Capital, a private financial services and real estate investment firm, has acquired Stadium Place, a 200-unit multifamily property, located in Jonesboro, Arkansas.
The addition of the community, which will be renamed to DLP Jonesboro, increases the number of DLP Capital-owned multifamily apartment homes to 568 units in the greater Memphis area, positively impacting the workforce housing affordability crisis throughout the Sunbelt and across the country.
“Our investors trust us to make an impact for the greater good while we strive to achieve remarkable returns for their investment,” says Don Wenner, Founder and CEO of DLP Capital. “The acquisition of DLP Jonesboro continues to add to our growing portfolio and advances our mission to provide housing that is affordable to working families throughout the greater Memphis area.”
By making internal and external renovations and improvements throughout these bedroom communities that are often forgotten about by developers focused on building new luxury housing, DLP Jonesboro is another example of the company’s continued commitment to serve families and the communities where they reside by providing stable and safe housing in proximity to good schools, with rents that are affordable.
DLP Jonesboro was built in 2000 and includes one, two, and three-bedroom units. It is conveniently located near downtown Jonesboro’s major retail centre, restaurants, and Arkansas State University, (the second largest university in Arkansas). The property is close to major highway routes offering convenient one-hour access to Memphis, Tennessee. The DLP Capital community includes 10 residential buildings, a swimming pool, a state-of-the-art fitness centre, playground & picnic areas, a basketball court, and additional amenities.