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DLP Living Fully Community Fund

A New, Mission Driven Fund Focused on Building Thriving Communities—From Everyday Living to Resort-Style Experiences

2x – 3x

Original Invested Capital*

10%

Target Annual Preferred Return*

5–8 years

Investment Term

$100,000

Minimum Investment

The DLP Living Fully Community Fund represents a pivotal moment for DLP Capital.

This is the first new DLP Capital–sponsored fund in four years, and the first non-evergreen (closed fund) offering in over six years. Structured to capitalize on what DLP Capital believes is one of the most compelling and resilient housing strategies in the United States today, the fund is now fully available to all existing and prospective investors.

Asset Types

  • Build-to-rent and for-sale horizontal communities
  • Single-family zoning developments, including stick-built and modular homes
  • Land-lease and lot-rental communities
  • Manufactured housing and RV-zoned communities
  • Vacation rental resorts and hospitality-integrated communities
  • Sale of manufactured homes and park models paired with land-lease structures

Investment Strategies

  • Land & Lot Development
  • New Construction
  • "Value Add" Existing Housing

Capital Stack Position

The Fund will primarily invest at the equity level, targeting control-oriented positions within community-based residential developments.

Non-Evergreen Structure

This is a closed-end, non-evergreen fund designed for disciplined capital deployment and a defined realization period.

Passive Income

The potential to earn from rental real estate without the headache of owning rental real estate.

Non-Concessionary Returns

Impact investments that don’t sacrifice return potential, creating a path for success and significance.

Potential and Indirect Tax Advantages

Potential to benefit indirectly from depreciation, offsetting taxable income

Don Wenner 2025 Headshot 1 2

This is the housing asset class I believe in the most.

Don Wenner

CEO & Founder of DLP Capital

Looking for another fund?

Learn more about the private credit and equity real estate investment funds sponsored by DLP Capital.

DLP Lending Fund

Credit

Senior secured mortgage fund (REIT4) that makes non-concessionary impact investments through senior secured loans to experienced real estate sponsors to develop, improve, and preserve attainable rental housing for working families.

Learn More about the DLP Lending Fund

12.92%

Compounded DRIP IRR Since Inception5

DLP Preferred Credit Fund

Credit

Evergreen Private Preferred Credit Fund (REIT6) that invests in the development, improvement, and preservation of attainable workforce housing.

Learn More about the DLP Preferred Credit Fund

10.96%

Compounded DRIP IRR Since Inception7

DLP Housing Fund

Equity

Evergreen Private Real Estate Investment Fund (REIT Subsidiary8) that makes primarily equity investments in existing attainable workforce housing.

Learn More about the DLP Housing Fund

17.40%

Compounded DRIP IRR Since Inception9

DLP Building Communities Fund

Equity

Evergreen Private Real Estate Investment Fund (REIT Subsidiary8) that invests in the development of attainable workforce housing (ground-up construction).

Learn More about the DLP Building Communities Fund

12.02%

Compounded DRIP IRR Since Inception9

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