Don’s Thoughts

Wenner Family Year in Review 

This year, my family experienced 119 extraordinary days across 20 different places, including 3 countries, 9 states, and 5 national parks. However, “extraordinary” isn’t measured in motion alone; it’s defined by meaning and impact. The question to ask yourself isn’t “How many places did I go?” It’s “What moments shaped me?” 

For our family, one of those moments came on September 14th, when we took my youngest son, Jake, to his first concert and met his favorite artist, Dylan Gossett. I’ll never forget his face, completely captivated by the music and lights. Carla, Jake, and I all chose it as our favorite day of the year—a reminder of the power of being fully present together.

Donny treasured the Jaguars’ Monday night victory over the Chiefs on October 6th. Seeing the joy he felt watching his team win in primetime underscored what this city has grown to mean to our family—the same city that shaped both the Jaguars and DLP. Both have grown through hard seasons, stayed the course, and earned their place. It was a reminder that the best wins—on the field or in business—are built patiently, year by year.

Alex’s favorite day came later that month, on October 25th—a night of gaming with friends at a unique place called Activate, followed by a sleepover in Dallas. Moments like these remind me that while the days look different for each of our kids, they’re all building memories that matter in their own way.

We also completed construction on our Asheville home this year, and welcomed friends and family to enjoy the beautiful mountains with us in the finished space. Each visit reminded us that shared experiences and connections are what turn a house into a home.

Carla took on leading 100% of the boys’ homeschooling, which has been transformative for our family. Donny, now 13, played in his first guitar recital and made the middle school basketball team. Alex, 12, grew as a violinist, performing in multiple recitals. Alex also played on several pickleball teams—I’m just waiting for him to beat me! Jake, 4, attended two Dylan Gossett concerts and followed in his big brother’s footsteps, beginning guitar himself. We also attended our first Las Vegas Raiders game together as a family. What makes me happiest isn’t the milestones themselves—it’s seeing my family embrace curiosity, growth, and the pursuit of passion.

DLP Capital Year in Review

I’m deeply grateful for the opportunity to steward hard-earned resources on behalf of nearly 4,000 families. In 2025 alone, we welcomed 857 new investors, reinforcing the trust that fuels everything we do and energizes our work moving forward.

The past three and a half years, since mid-2022, have been among some of the toughest we’ve faced. Interest rate increases, coupled with oversupply in multifamily deliveries, created significant headwinds. We’ve seen flat or even declining rents in many markets, and many REITs posted negative returns over this combined period. 

It’s easy to lead when the wind is at your back. Extraordinary leaders maintain the discipline and resolve to make progress, even when the wind is in their face. 

Despite these market conditions, we worked relentlessly to deliver consistent results—never missing a preferred return, maintaining distributions, and providing liquidity when it mattered most. These outcomes weren’t accidental; they were the result of discipline, thoughtful decision-making, and a deep commitment to responsible stewardship.

This year, we doubled our assets under management to $5.5B, reached $1B in originations, achieved $2B in capital under management, expanded our leadership team, grew our lending business, and earned our 13th consecutive Inc. 5000 recognition. I was also honored to be named a National Entrepreneur of the Year by Ernst & Young. 

We also broadened our ecosystem in ways that position DLP for its next stage of growth. The merger between DLP Bank and Regent Bank’s holding companies expanded our community-centered banking capabilities, and the launch of Extraordinary Trust enabled us to serve families more holistically.

This year also marked the launch of Extraordinary Living, with onsite coordinators appointed at all DLP-managed communities, ensuring residents have the resources, connection, and support they need to truly thrive. 

Looking forward, I believe the next three years will mark a true inflection point for attainable housing. The headwinds we’ve navigated are beginning to turn into tailwinds as supply and demand rebalance, and interest rates stabilize. We’re targeting $1 billion in revenue and more than $8 billion in assets under management within the next three years, positively impacting over 1 million lives. These goals aren’t about growth for growth’s sake—they’re milestones on the path toward our big, hairy, audacious goal: transforming 10 million lives by funding 5,000 Thriving Communities and becoming one of the 100 largest private companies in the U.S. 

Final Reflections

The common thread between my family’s year and DLP’s is this: meaningful growth comes from intentionality, when resilience is rooted in purpose and lasting impact is built through consistency. 

Whether it’s showing up for your son’s recital or showing up for nearly 4,000 families during times of uncertainty, the principle remains the same. You can't control the wind, but you can adjust your sails. You can't predict every challenge, but you can commit to your values. You can't guarantee outcomes, but you can guarantee your effort.  

As we step into this pivotal year, I’m energized not just by what we’ve built, but by the lives we’re transforming. Thank you for joining us on this journey. Your trust, partnership, and belief make everything possible.