Founded in 2006 by Don Wenner, DLP Capital began as a small residential real estate sales firm in Pennsylvania and has evolved into a vertically integrated private real estate investment and financial services company headquartered in St. Augustine, Florida. The firm operates with a mission-driven approach, focusing on attainable and workforce housing across the United States. DLP Capital’s core business revolves around four evergreen investment funds targeting both debt and equity strategies: the DLP Lending Fund, Preferred Credit Fund, Housing Fund, and Building Communities Fund. These funds emphasize income-producing assets and impact-driven projects, primarily in multifamily and single-family rental housing, manufactured housing, and outdoor hospitality (RV resorts). The investment strategy prioritizes cash flow stability, risk-adjusted returns, and geographic concentration in high-growth Sun Belt markets such as Florida, Texas, and Georgia—regions characterized by strong job growth and housing demand. The company’s vertically integrated model includes property management, construction, and lending arms, enabling operational control across the value chain. This structure supports its goal of addressing the U.S. affordable housing shortage. Top market exposure includes Florida, Texas, and Georgia, with significant holdings in suburban metro areas. Tenant concentration risk is mitigated by a diversified portfolio of workforce housing communities rather than reliance on single anchor tenants.