DLP Capital Closes $108.4 Million in Multifamily Refinancings Across Pennsylvania and Texas

ST. AUGUSTINE, Fla.–(BUSINESS WIRE)–DLP Capital, a private real estate investment firm with headquarters in St. Augustine, Florida, and offices in Bethlehem, Pennsylvania, and Asheville, North Carolina, announced today the successful closing of $108.4 million in Freddie Mac refinancing loans across three multifamily properties owned by the DLP Housing Fund. This includes:

• A $44.1 million refinancing loan for Morgan’s Landing, a 350-unit community in La Porte, Texas
• A $41 million refinancing loan for Dream Lehigh Valley, a 200-unit property in Wind Gap, Pennsylvania
• A $23.3 million refinancing loan for DLP Kutztown, a 184-unit multifamily property located in Kutztown, Pennsylvania

The refinancing loans for Morgan’s Landing and Dream Lehigh Valley were provided by Capital One, with Michael Maidhof as the originator. Both loans feature five-year terms, 12 months of interest-only payments, and 35-year amortization schedules.

“As the product of a rigorous, months-long process, these refinancings will deliver significant debt service savings to the DLP Housing Fund,” says Harshit Shihara, Director of Finance Partners & Debt Placement at DLP Capital.

“These refinances not only allow DLP Capital to effectively execute their business plan, but represent the launch of an expanded relationship between Capital One and the DLP team,” says Michael Maidhof, Senior Vice President and Head of Agency Production at Capital One.

Michael Casey, Senior Vice President of M&T Realty Capital Corporation, originated the refinancing transaction involving DLP Kutztown. This loan features a five-year floating-rate structure and a 24-month interest-only period. “This cash-out refinance for DLP Capital demonstrates their exceptional ability to execute on their business plans on behalf of investors,” said Michael Casey, Senior Vice President at M&T Bank. “M&T Bank looks forward to supporting DLP Capital’s growth in 2026.”

“This milestone is a testament to the quality of the DLP Housing Fund’s portfolio,” said Don Wenner, founder and CEO of DLP Capital. “These proactive refinancings, which generate greater flexibility and lower near-term debt service obligations demonstrate the strength of our in-house debt placement team and underscore our commitment to investor success.”

About DLP Capital: DLP Capital is a private real estate investment firm with over $5.25 billion in assets under management (AUM). The firm’s core focus is investing in, developing, and financing safe, attainable, and thriving multifamily and single-family rental communities for America’s working families. Founded in 2006 by Don Wenner in Pennsylvania’s Lehigh Valley, DLP Capital is a 13-time Inc. 5000 honoree, most recently in 2025.

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