Last week, Don Wenner and members of DLP’s senior leadership team shared an in-depth update on the DLP Building Communities Fund as it enters its fifth year of operation. The discussion covered year-end activity, progress across active developments, and updates shaping the fund’s strategy for 2026.
This webinar also addressed broader housing market dynamics, including ongoing supply constraints and long-term rental demand, along with planned fund enhancements designed to support targeted performance, drive development progress, and expand attainable housing solutions in key markets.
Highlights include:
Fund Activity and Performance*
- 2025 investor distributions rose more than 30% over the prior year’s high-water mark
- Performance remained within targeted ranges, supported by progress across ground-up development investments
Market Conditions
- New construction pipelines have fallen below pre-COVID levels and are expected to continue declining through 2026-2027
- As existing inventory is absorbed, rental growth is projected to resume in 2027 and beyond
Portfolio Scale & Progress
- 2,500+ units under construction, 1,400 units in pipeline, and 900+ units in operations
- Active developments across Florida, Texas, and Tennessee are advancing through construction, lease-up, and stabilization
Fund Enhancements (Effective January 1, 2026)
- Targeted annual return increased to 12–14%**
- Preferred return increased to 9%, paid monthly (up from 8% paid quarterly)
Watch the full webinar replay now to hear these updates and more directly from Don and the DLP leadership team.