DLP Real Estate Capital, a private financial services and real estate investment firm, announced its acquisition of The Edge at Kutztown, a 184-unit student housing property, located in Kutztown, Pennsylvania. The community, renamed to DLP Kutztown, will offer naturally occurring affordable housing to both students and families living in Kutztown and the Greater Lehigh Valley area. The acquisition of DLP Kutztown continues DLP’s focused mission on positively impacting the current housing affordability crisis affecting families across the nation.
Don Wenner, Founder and CEO of DLP Real Estate Capital commented, “The acquisition of DLP Kutztown adds to our growing portfolio and confirms our belief in the Greater Lehigh Valley, where I was born and raised. By transforming the community to a mix of both student and multifamily units, more hardworking individuals and families will be able to live here at a more affordable price. It’s humbling to be able to make an impact while continuing to deliver remarkable results for our investors.”
Lou Davis, Managing Director of Investments, commented, “DLP Kutztown is a great example of how DLP is making an impact for our residents and investors alike. Our team remains bullish on the Greater Lehigh Valley area and we are committed to adding value in Kutztown through our regional expertise.”
DLP Kutztown was built in 2008 and is conveniently located to nearby Kutztown University, one mile from vibrant downtown Kutztown, and is part of historic and beautiful Berks County. It is close to major highway routes offering convenient access to regional employment, including KU, Lehigh Valley Health Network, Sposto Interactive, and more. The multifamily property consists of three-bedroom units with amenities that include full appliance and furniture packages, in-unit washer/dryers, clubhouse, patio with grilling area, and more.