DLP Real Estate Capital Announces Acquisition of 560-Unit Apartment Community Portfolio in Owensboro and Paducah, Kentucky

DLP Real Estate Capital Announces Acquisition of 560-Unit Apartment Community Portfolio in Owensboro and Paducah, Kentucky

AUGUSTINE, FL - DLP Real Estate Capital announced its acquisition of the Chandler Park portfolio, amultifamily property portfolio, consisting of two communities in Owensboro and Paducah, Kentucky. This 560-unit portfolio is comprised of 1 bedroom, 2 bedroom, and 3 bedroom units and marks the companies' first footprint in the Bluegrass State.

Don Wenner, Founder and CEO of DLP Real Estate Capital commented, "We are thrilled to not only make our mark in Kentucky, but more importantly, we're excited to have an impact on hardworking individuals and their families by providing affordable homes in safe communities. Chandler Park offers higher luxury at affordable pricing." 

Chandler Park, Owensboro, built in 2014, is a 320-unit, multifamily complex located in Owensboro, the fourth largest city by population in the state. The city is the only metropolitan area in the country to have decreased its year-over-year unemployment rate from 4.4% to 4.2% (June 2019-2020) and has experienced immense growth in both businesses and economic development.

The property sits on over 17-acres with 17 residential buildings and includes a resort-style swimming pool, fitness center, and green space with grills. The one to three bedrooms apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops, and are pet friendly.

Chandler Park, Paducah, built in 2016, is a 240-unit, multifamily complex located in Paducah. Key economic drivers include transportation, manufacturing, and healthcare and the local economy is set to see exponential growth due to the City Block Project, a 3-acre multi use development in downtown Paducah.

The property sits on almost 12-acres with 7 apartment buildings and includes a resort style swimming pool, expansive fitness center, clubhouse, and dog park. The one to three bedroom apartments have open floor plans, stainless steel appliances with granite countertops, and private patios and balconies, and are pet friendly.

The Chandler Park portfolio was brokered by Brian Devlin, Brandon Wilson, & John Seale of The Kirkland Company. Brian Devlin, Managing Partner commented, "Both Chandler Parks have unmatched amenities and excellent locations to the city's demand drivers. Their A quality finishes and superb design make these some of the best assets in the cities."

Source: DLP Real Estate Capital

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