DLP Capital, a private real estate investment and finance firm, has partnered with Colony Hills Capital, a real estate investment company, to acquire City Park In the Heights.
CPH is a 308-unit apartment complex located in Houston, Texas. The property’s units are made up of one, two and three bedroom that range from 626 to 1,395 square feet. CPH provides tenants with on-site parking, an outdoor pool and a workout facility.
The deal represents DLP’s effort to deliver affordable housing to hardworking community members. Colony Hills is a member of the DLP Elite Impact Housing organization, a group of high-growth, high impact real estate operators.
“DLP Capital is planning to deploy $2.6 billion of capital into the housing market through debt and equity investments, and a key focus for us is Texas,” commented DLP Capital founder and CEO, Don Wenner. “Our mission is to provide housing solutions that are affordable to the local working families and this acquisition fits the bill. Being able to work with a partner such as Colony Hills Capital, who are aligned with our mission, is icing on the cake.”