DLP Capital announces it has partnered with Colony Hills Capital to purchase Paramount at Kingwood, a 372-unit apartment complex, located at 200 Kellington Dr N, Kingwood, TX 77339.
Paramount at Kingwood consists of one, two, and three bedrooms, ranging in size from 650 to 1500 square feet. The property offers residents a variety of amenities, including on-site and covered parking, a swimming pool, a state-of-the-art fitness center, and a business center. Additionally, DLP and Colony Hills Capital plan on making major renovations to the apartment complex, creating luxurious living for an affordable price.
The property is the latest addition to DLP’s ongoing efforts to provide organically affordable workforce housing, ensuring that Kingwood residents can afford to live where they work.
“DLP Capital is committed to positioning capital into the housing market through debt and equity investments, and the state of Texas continues to be a key area of focus for us,” said DLP Capital Founder and CEO, Don Wenner. “Our goal is to provide housing solutions that are affordable to the local working families of Kingwood and this purchase is a perfect fit. Partnering with Colony Hills Capital, who shares in our mission, is the cherry on top.”
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 chance we have to work with a team as dedicated as DLP Capital is a victory for Colony Hills Capital and the people we serve,” said Glenn Hanson, Founder, and CEO of Colony Hills Capital. “Our goal is to increase our transaction volume to $2 billion by the end of next year and this collaboration with DLP provides an avenue to reaching that mark. The membership services provided by DLP’s Elite program have swiftly expedited the process of continued growth.”