DLP Real Estate Capital announces today that it has sold one of its multifamily apartment communities for $7.05 million.

The Village at Heritage Place is a 100-unit, Garden-style multifamily property, located in Wilson, North Carolina, just two miles southwest of Historic Downtown Wilson with convenient access to U.S. Highway 301. The sale and financing was led by Mark Boyce and Blake Coffey of Berkadia Real Estate Advisors LLC and Berkadia Commercial Mortgage, LLC. DLP Real Estate originally purchased the property in November 2017 for $4,600,000.

Anthony Ruben, Senior Director of Investments at DLP Real Estate Capital commented, “DLP is, once again, delivering solid success to its investor base. This investment exhibits a proven capability to successfully execute value-add strategy and deliver outsized returns to its fund investors.”

The Village at Heritage Place, originally built in 1970, is now a well-maintained community with 99% occupancy at the time of sale. DLP Real Estate Capital focused primarily on renovations to the apartment units, including: hard surface flooring in kitchens and bathrooms, upgraded appliances, resurfaced countertops, and new cabinetry. The property maintained better than market occupancy while under DLP’s management.

DLP Real Estate Capital is a leader in the single and multi-family real estate sectors of brokerage, investment management, asset management, property management, construction, and private lending. DLP RE Capital leads and inspires the building of wealth and prosperity through the execution of innovative real estate solutions. DLP generates consistent returns and results for its investors and partners and gives back through its foundation. The family of companies includes DLP Capital Partners, DLP Direct Lending Partners, DLP Real Estate Management, DLP Realty, Brite Homes, Alliance Loan Servicing, and Alliance Property Transfer

DLP Real Estate Capital has over $800 million in assets under management, over 400 loans in portfolio, and has closed over 12,000 real estate transactions totaling more than $2 billion. DLP has been ranked in the Inc. 5000 fastest growing companies in the U.S. for seven consecutive years and has been named by The Wall Street Journal as one of the top 15 real estate firms in the U.S. for the fifth straight year, including the #1 team in PA and NJ for sales.