Targeted Annual Return (Net)1
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Diversify with private credit and equity real estate investment funds that make non-concessionary impact investments to expand access for America’s working families to affordable, safe communities.
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DLP Preferred Credit Fund
Passive income potential with limited volatility and limitless impact.
10-11%
9%
Annual Preferred Return (Paid Monthly)
10.96%
Compounded DRIP IRR Since Inception2
90-Day Notice
Redemption
Why the DLP Preferred Credit Fund?
Invest with purpose. This Private Preferred Credit Fund (REIT3) and private credit investment opportunity helps mission-aligned real estate sponsors finance the building of Thriving Communities, creating solutions to the affordable housing crisis. The Fund provides mezzanine loans and other subordinate financing to develop, improve, and preserve attainable rental housing for working families.
As one of DLP's private credit funds, the Fund focuses on providing capital through direct lending and private lending solutions that support housing development across the country. Through disciplined due diligence and a focus on high-quality sponsors, the Fund seeks to generate attractive risk-adjusted returns while creating measurable social impact. Investors gain access to a professionally managed private debt strategy that emphasizes income generation, capital preservation, and long-term value creation.
Impact Focus
- Provides financing secured by attainable housing assets or equity pledges in the property owner.
- Upholds DLP’s Impact Mandate, with 85%+ of investments supporting attainable housing communities.
- Enables operators and sponsors to preserve affordability and improve housing quality.
- Seeks to generate consistent income for investors while advancing housing attainability nationwide.
Interest Rate Mitigation
Targets risk-adjusted returns for investors through a strategy of short-term loans, generally 3-36 months. The Fund's private credit approach emphasizes shorter-duration investments that may help reduce sensitivity to changing interest rate environments while maintaining attractive income potential.
Quarterly Liquidity
90-day call notice with 90 day redemption period means you can exit/redeem in whole or in part on your schedule, not the Fund’s.
Passive Income
The potential to earn from rental real estate without the headache of owning rental real estate. Investors benefit from exposure to professionally sourced direct lending opportunities while avoiding the operational responsibilities associated with property ownership and management.
Evergreen Structure
The Fund is able to make investments when it fits its strategy, not a timeline. This evergreen structure allows the investment team to pursue compelling investment opportunities as they arise rather than being constrained by a fixed fund lifecycle.
Non-Concessionary Returns
Impact investments that don’t sacrifice return potential, creating a path for success and significance.
Purpose-Driven Investments
Prioritize lending to mission-aligned sponsors, with an emphasis on creating long-term relationships. By focusing on repeat borrowers and strategic partnerships, DLP seeks to identify opportunities that align with its mission while supporting sustainable growth. Rigorous due diligence, experienced management, and a commitment to responsible private lending help position the Fund to pursue attractive returns and meaningful impact over the long term.
Impact in Action
Read more about the latest investments made by the DLP Preferred Credit Fund to finance the building of attainable rental housing, creating Thriving Communities for America’s families and workforce.
Through direct loans and other private credit financings, the Fund helps provide critical financing for housing projects that serve working families. These investment strategies support the development, preservation, and improvement of housing communities while creating opportunities for investors to participate in a purpose-driven private debt portfolio. Explore recent transactions to see how the Fund is putting capital to work and creating impact across the nation.
Jacksonville, Florida
$8.4M
- End Product Mixed-Use
- Loan Type Land
- Origination Quarter Q2,2026
- LTC 49.98%
- Units 535
Galveston, Texas
$70M
- End Product Single-Family
- Loan Type Construction
- Origination Quarter Q2, 2026
- LTC 60.59%
- Units 114
Myrtle Beach, South Carolina
$60M
- End Product Condominium Complex
- Loan Type Construction
- Origination Quarter Q2, 2026
- LTC 88.09%
- Units 131
I appreciate the fact that they’re [DLP Capital is] continuing to grow and have a deeper mission than just making money.
Jim Dahle
Founder of the White Coat Investor
Watch Investor SpotlightDLP Preferred Credit Fund Resources
Learn more about DLP Capital and the DLP Preferred Credit Fund.
Looking for another fund?
Learn more about the private credit and equity real estate investment funds sponsored by DLP Capital.
DLP Lending Fund
CreditSenior secured mortgage fund (REIT*) 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.
12.71%
DLP Preferred Credit Fund
CreditEvergreen private DLP Preferred Credit Fund (REIT*) that invests in the development, improvement, and preservation of attainable workforce housing.
10.96%
DLP Housing Fund
EquityEvergreen private real estate investment fund (REIT Subsidiary*) that makes primarily equity investments in existing attainable workforce housing.
16.20%
DLP Building Communities Fund
EquityEvergreen private real estate investment fund that invests in the development of attainable workforce housing (ground-up construction).
11.98%
DLP Living Fully Community Fund
EquityA new, mission driven fund focused on building thriving communities—from everyday living to resort-style experiences.
2–3X
DLP Lending Fund Series A Note Offering
NoteA new Series A Note Offering focused on structured, predictable returns from DLP-managed assets—designed for disciplined investors.
8%
DLP Preferred Credit Fund Series A Note Offering
NoteA new Series A Note Offering that will allow Noteholders to participate as lenders to the DLP Preferred Credit Fund.
9%
