The Building Communities Fund’s primary strategy is to positively impact the workforce housing crisis in America through equity investments in ground up development and construction of workforce rental communities. DLP Capital’s goal is to provide safe, clean, attainable workforce housing to 250,000 residents through 100,000 housing units while providing these families with a path to prosperity.

The Fund will primarily invest, through both debt and equity, in the ground up development, acquisition, improvement and management of residential real estate with a focus on providing affordable housing in markets with strong fundamentals.

The Fund will also primarily focus on growth oriented investments structured to provide strong growth and limited volatility, to its investors. The focus is mostly in secondary and tertiary markets in the sunbelt region.


  • Annual distributions
  • Evergreen real estate fund
  • Targeted annual returns of 11-13%

Accredited Investors only*

Apartments White 4

Fund Overview

Fund TypeReal Estate Equity
Fund InvestmentsPrimarily equity investments into existing single-family and multifamily communities, mobile home and camp communities, and self-storage.
Direct/Indirect SecurityReal Estate ownership
Inception DateOctober 2021
Fund TermEvergreen
Distribution FrequencyQuarterly (Pref); Annual (EDC)
Management Fee2.0%
Annual Management Fee Rebate for Investments of $1M+**0.50%
Annual Management Fee Rebate for Investments of $10M+**1.0%
Preferred Return8%
Targeted Annual Net to Investor11-13%
Management Performance Fees20% upon achieving 8% preferred return
RedemptionsAnnual Redemption
Benefits of LeverageYes
IRA Investment OptionYes
Tax Shelter through DepreciationNo
Subject to UBITYes
Target Fund Size$1,000,000,000
Minimum Investment$200,000
Manager Co-investmentMinimum 5% Committed Capital
Must Be AccreditedYes
Tax Reporting MethodK-1
Audited FinancialsYes; CohnReznick
Institutional OptionYes
Reporting FrequencyQuarterly

*Management fee is paid monthly, but subject to claw back.

Past performance is not a guarantee of future performance.

* Accredited Investor Definition: For an individual to be considered an accredited investor, he or she must have a net worth of at least one million U.S. dollars, not including the value of one’s primary residence or have income at least $200,000 each year for the last two years (or $300,000 together with his or her spouse if married) and have the expectation to make the same amount this year.

**Management fee rebates of .5% for >$1M investment and 1% for >$10M investment are per account, per fund, based on a minimum annual investment balance-as of April 1st for the 2023 calendar year; per calendar year thereafter.

Risk Disclaimer: Investing in private real estate funds and notes secured by real estate has certain inherent risks, which could result in the loss of some or all of your principal investment. Your decision to purchase and invest should be based on your own particular financial circumstances and investment objectives. DLP Capital Partners, LLC (formerly known as DLP Capital Advisors, LLC), its officers, and representatives can in no way guarantee or warrant your success. Consult your tax advisor or financial advisor before investing. Past performance does not guarantee future performance. Please see fund offering documents for full details and disclosure.

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