Focus on Rental Housing for America’s Working Families Spurs 238% Growth
St. Augustine, Fla. – DLP Capital, a private real estate investment and financial services firm, today announced that for the 11th consecutive year, it has been named to the Inc. 5000 list of “Fastest-Growing Private Companies in America.” The 2023 results place DLP Capital among a very limited number of firms to achieve 11 consecutive years on the list—a remarkable accomplishment for DLP Capital to achieve such consistent year-over-year growth. DLP Capital’s revenues over the most recent three-year comparison period grew 238%. The firm is one of only two real estate firms in the nation to be in this year’s ranking with 11 or more consecutive years on the Inc. 5000 list.
“DLP Capital’s formula for success—investing in and developing thriving rental housing communities that serve America’s working families—continues to stand the test of time and contributes to our exponential growth. The demand for quality, attainably priced housing continues unabated,” said Don Wenner, Founder and CEO of DLP Capital. “Key to our success is the fact that we offer over 2,500 investor families the opportunity to earn double-digit returns through our fund offerings while making an impact on America’s housing affordability crisis—doing well for our investors while doing good.”
DLP Capital fills a void in workforce housing at a time when demand for such housing far exceeds supply. The cost of homeownership in the U.S. has experienced nearly a decade of annual increases, with the median home price now surpassing $400,000. Lofty home prices are stretching the finances of countless households and turning many into renters. The production of new rental homes has failed to keep pace with demand, and the National Multifamily Housing Council predicts a need for 4.3 million more apartments in the U.S. by 2035.
As renter demand escalates, DLP Capital focuses on building thriving communities for the “missing middle,” i.e. middle-income workers such as teachers, first responders, health care workers, and service/retail professionals who keep the gears of local economies working smoothly—but may be cost-burdened by spending more than 30% of their income on rent. DLP Capital’s portfolio of multifamily and single-family rental homes typically offers rents that limit what a family spends on rent to no more than that 30% threshold. The firm now has more than $5 billion of assets in its portfolio focused on investments in workforce housing and related assets.
“America is continuing to become a nation of renters, and we do not see this trend subsiding anytime soon,” added Wenner. “It’s part of a growing trend toward a ‘sharing economy,’ in which you can rent a home for a day or a year. This sharing economy is not only altering the concept of ownership but providing flexibility and freedom much appreciated by workforces. DLP Capital is well-positioned for continued high growth as a key contributor to this sharing economy.”
Complete results of the Inc. 5000 list can be found at www.inc.com/inc5000.