We welcomed aboard Tennessee-based developer Compass Ventures to our Elite Impact Housing Membership—our program that provides blueprints to help operators build exponentially stronger businesses. And what better way to start our partnership than by developing new apartments that will be a valuable, affordable addition to the local community? DLP and Compass are aligned on that mission. So we’re pleased to announce that Villas at Sevierville will be a 224-unit community, 40 miles southeast of Knoxville, situated in the city of Sevierville at the main intersection that provides a passageway to Dollywood theme park, which attracts 3 million visitors annually to its theme park rides, theaters, and restaurants. Villas at Sevierville will add much-needed modern, affordable rental units to a local housing market characterized by older, smaller apartment complexes. And, given its location in the foothills of Great Smoky Mountains, it’s sure to offer good views as well. We closed on the transaction in only two-weeks’ time and plan to deliver units beginning in 2024.
Right on the heels of that transaction, we partnered on the purchase of an exceptional Houston multifamily property, Elan Memorial Park, together with ORP Investments Inc. This 297-unit property is located in the Neartown-River Oaks submarket, a highly desirable live-work-play environment just four miles from downtown Houston. The Houston metropolitan area experienced its best employment growth year on record in 2021, adding nearly 160,000 jobs. Elan Memorial Park will be a vibrant addition to our investment portfolio in the region, providing further economies of scale to our asset management of 2,500+ units in the broader Houston area. We now have multifamily properties with a range of price points to appeal to an array of tenants in the area. Amenities offered at Elan Memorial include a top-floor sky lounge that features panoramic views of downtown Houston, a courtyard pool with coffee bar, clubhouse with gaming area, and private backyards, patios, or balconies.
As you can see, we’re not one-size-fits-all at DLP Capital but instead consider the individual attributes of every property and each individual sponsor.
EACH MONTH AT DLP, WE HIGHLIGHT ONE OF OUR TEN CORE VALUES.
Our core values are what define us as an organization. They are the beliefs and principles that guide our actions and decisions, and they shape our culture. They are the foundation of who we are and what we do.
We exude confidence without arrogance, projecting humility and warmth to empower others and emphasize collaboration.
Driven for Greatness
Driven 4 Greatness (D4G) is a meeting we’ve conducted for over a decade, and it all started as a book club. I was reading a book called "The 21 Irrefutable Laws of Leadership" by John Maxwell and loved it so much that I invited my teammates to read it with me. We began meeting every other week to discuss the book, which led to us reading another book together, and another. To date, we’ve read more than 150 books, some of which we’ve read multiple times. D4G has remained a voluntary group at DLP Capital, and, as we’ve grown, membership has expanded to more than 50% of our team members. With 200 people now in attendance, we can have engaging conversations with diverse opinions on the readings. Two DLP members volunteer to lead us through separate presentations and discussions on the chosen book, with the group meeting every other Thursday morning.
This month, we covered “The Oz Principle” by Craig Hickman, Roger Connors, and Tom Smith. This book is one of my top five favorite books of all time and it’s one I’ve read time and time again. I encourage you to dive into it!
Key takeaways from the book:
- We are all accountable for our own actions and results.
- We must also hold each other accountable as we work together towards a common goal.
- Avoid being “below the line,” or playing the blame game.
- Remaining above the line means following the “Steps to Accountability” - “See It, Own It, Solve It, Do It”
- Seek feedback from your supervisors and peers.
"The Oz Principle" is a great read for:
- Those who struggle with accountability.
- Those who work in teams.
- Those in leadership positions.
What I'm Reading
Where I've Been
Where I'm Going
IMPACT with Don Wenner
Dr. James Mault - The Impact of Healthcare
The Impact with Don Wenner Podcast is all about the stories of people who have made a difference. In this episode, host Bo Parfet interviews James Mault, MD, a medical pioneer whose work has had a profound impact on the field of medicine. James shares his story of how he became interested in medicine, the major breakthroughs he's made in his career, and how he's helped countless people through his work. This is an inspiring episode about making a difference in the world. Previously Recorded on March 19th, 2022.
Fundamentals Of Living Fully: The 8 F's
Over the last several years, in pursuing living fully (another one of DLP’s core values), I have developed what I believe to be the formula for a life of significance, fulfillment, prosperity, and happiness.
The central thought of living a full life is the 8 F's: faith, family, friends, finance, fitness, fulfillment, freedom, and fun.
You can truly live fully by putting intentionality and focus around all these areas as part of a singular plan for your life!
This month, I want to focus on family. If you know anything about me, you’ll know that my family is my world. I’m married to my beautiful wife Carla, and we have three boys, Donny, Alex, and Jake. Creating close, healthy bonds with them, as well as my extended family (parents, siblings, etc.), is a priority of mine, and I make sure I take ample time with each of them to create those connections.
My family BHAG (big, hairy, audacious goal) is to spend 100 amazing days with my wife and boys in 100 different locations. We’re well on our way to meeting this goal, having taken several exciting adventures together just this year. These moments spent with them will create life-lasting memories and serve to strengthen our bond.
Why is family so important? For many reasons, actually. They’re not just the people with whom you share a home. Families are your support system, especially during times of doubt, emotional stress, financial trouble, and more. Families should be a source of encouragement and affection, love and compassion.
Did you know that, according to Psychological Science, people who are raised in nurturing, supportive families have healthier relationships as adults? Strong families also produce children who experience less mental health challenges. These results may not be a surprise to many of us, but in a world where we’re facing a happiness crisis, it’s imperative that we evaluate our family relationships and analyze whether they foster support, love, discipline, and values.
This month, I challenge you to spend extra time with your family. Be present during dinnertime, engage with your children while they’re doing homework, take your spouse on a date, call your parents and check on them, or invite a sibling out for a healthy game of basketball or other sport. These connections, however brief, can have lasting positive impacts on your relationships with the people you’re closest to.
Happy families foster strong communities, which can have positive impacts on not only ourselves but our nation as a whole. Hardworking families built the American dream, but statistics show that now, by the second or third generations, wealth that was built is typically lost. We want families to grow and prosper and embrace clear values regarding capital growth and purpose.
I suggest completing a “family compass,” i.e. establishing core values that will serve as resources to children and which, when clearly communicated, have an important, positive impact on families. If you’re interested in learning more about fostering happy, healthy family relationships while creating lasting legacies for your children and grandchildren, I invite you to join me in San Juan, Puerto Rico this November 9-13 for DLP Capital’s Health, Wellness & Longevity event. We have an exclusive discount that’s only available through September 23, so make sure you don’t miss out. I hope to see you there.