Don's Thoughts

Latest Deals from DLP Capital

Southeast Multifamily Portfolio III

DLP Capital, together with RREAF Holdings, a private real estate investment and development firm, and 3650 REIT, recently announced the acquisition of “Southeast Multifamily Portfolio III,” with a capitalization of approximately $500 million. The portfolio includes 10 multifamily properties consisting of over 2,744 units located in Arkansas, Georgia, Indiana, Mississippi, North Carolina, Oklahoma, and South Carolina and marks the trio’s third portfolio acquisition in less than 12 months.

The portfolio acquisition, believed to be one of the largest multifamily transactions in 2022, will infuse significant capital into quality, workforce rental units at a time when the nation is increasingly experiencing a shortage of affordable options. According to the National Multifamily Housing Council, 4.3 million more apartments are needed by 2035 to meet the demands for rental housing.

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Boyd Theater Groundbreaking

DLP Capital and Monocacy General Contracting broke ground on a new, mixed-use multifamily complex on the former site of the historic Boyd Theater in Bethlehem, Pennsylvania. The groundbreaking marks the beginning of a new era for the theater, an iconic symbol of Bethlehem dating to the days of live vaudeville, with the 1,200-seat venue later becoming the place to see first-run movies. Bethlehem’s Mayor J. William Reynolds was on hand for the ceremony, joined by dignitaries from the offices of U.S. Representative Susan Wild and Northampton County Executive Lamont McClure. In designing the new 205-unit multifamily community, DLP Capital and Monocacy will pay tribute to the heydays of the historic theater, which will now become a valuable addition to affordable apartment living in the area.

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Living Fully Day

On October 13, our entire DLP team celebrated our annual Living Fully Day where we learned all about this all-encompassing core value. We had some incredible expert speakers like Jim Sheils, Aaron Velky, Trav Bell, and Patrick O’Donnell who imparted some invaluable insights on how to be more present with family, making smart financial decisions, creating the perfect bucket list, and personal health and well-being.

I was honored to kick off this day with some of my own words of wisdom and what I’ve learned over the years about how important living fully is. Part of my presentation included what I feel are the five keys to a life of success, significance, and happiness. These include:

Intentionality
Being intentional with our time and about what we choose to focus our time on.

Purpose
When your family, friends and/or community think of you, what do you want to be remembered for?

Goals
Determine your top goals in each area of your life and your overall top priorities.

Grit
This is what separates the most successful people in the world from everyone else.

Growth Mindset
With this mindset, you continue to reach new levels of achievement.

This, of course, is abbreviated, but you get the idea. Ask yourself—do your actions propel you towards success and fulfillment? If not, you may need to reevaluate your life and determine whether you’re living with intentionality, purpose, have clearly defined goals, grit, and a growth mindset. We’re not working towards perfection. But what we can do is control our actions and make the best decisions for ourselves, our families, and our businesses.

Driven for Greatness

Driven 4 Greatness (D4G) is a DLP firm-wide 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 teammates to read it with me. This led to biweekly meetings to review another book together, and another. To date, we’ve reviewed 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, meeting membership has expanded to more than 50% of our team members. With 200 people now in attendance, we have conversations that are more engaging and diverse in their opinions than ever. Two DLP members volunteer to lead us through separate presentations and discussions on the chosen book, with the group meeting a half-hour before the usual workday begins.

This month, we read “The Five Dysfunctions of a Team,” by Patrick Lencioni. This popular business book explains how even some of the best teams struggle to work together and provides key strategies on how to tackle obstacles and barriers that hinder productivity.

Key takeaways from Lencioni's book:

• • The five dysfunctions of a team include: absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results.
  • Each member of a team must facilitate trust by admitting weaknesses and vulnerabilities.
  • Teams should aim for common goals rather than individual results.

“The Five Dysfunctions of a Team” is a great read for:

• • Those in leadership positions who manage teams, regardless of size.
  • Those who routinely conduct work in teams.
  • Higher education students who conduct group projects.

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