DLP Real Estate Capital has acquired The Edge at Kutztown, a student housing community that was constructed in 2008 and is located near the Kutztown University Campus.
The community, which will be renamed DLP Kutztown, is a 184-unit property aimed at students of the university. The property is made up of three-bedroom units with amenities that include full appliance and furniture packages, in-unit washer/dryers, clubhouse and a patio with grilling area.
The company said it plans to transform the property into a mix of student and multi-family dwellings.
“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,” said Don Wenner, founder and CEO of DLP Real Estate Capital. “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.”
Wenner said the firm has a goal of positively impacting the current housing affordability crisis affecting families across the nation and the acquisition is part of that effort.
The purchase price was not disclosed.