DLP Capital, a private real estate investment and finance firm, announces it has partnered with Colony Hills Capital to purchase City Park in the Heights, a 308-unit Houston apartment complex, located at 1640 E T C Jester Blvd, Houston, TX 77008.
Units at City Park in the Heights are comprised of one, two, and three bedrooms, ranging in size from 626 to 1,395 square feet. The property offers residents a variety of amenities, including on-site parking, an outdoor pool, and a workout facility. The property is the latest acquisition in DLP’s continued efforts to provide naturally affordable workforce housing to the hardworking members of the community, ensuring people can afford to live where they work.
“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,” said 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.”
Colony Hills Capital, a private investment company based out of Wilbraham, MA, is a member of the exclusive DLP Elite Impact Housing community, made up of high-growth, high impact real estate operators.
“Any opportunity we get to partner with an organization as driven as DLP is a win for Colony Hills Capital and the residents we serve,” said Glenn Hanson, Founder and CEO of Colony Hills Capital. “This partnership with DLP is a tremendous opportunity to help us grow our transactions from our current $1 billion to $2 billion by the end of 2023. In addition, we have quickly realized accelerated process improvement gains from the membership services provided by DLP’s Elite program.”