AUGUSTINE, FL – DLP Real Estate Capital announced the acquisition of the Chandler Park multi-family real estate portfolio, which consists of two parishes in Owensboro and Paducah, Kentucky. This 560 unit portfolio consists of 1 bedroom, 2 bedroom and 3 bedroom units and marks the company's first presence in the state of Bluegrass.
Don Wenner, Founder and CEO of DLP Real Estate Capital, commented, "Not only are we excited to break into Kentucky, but most importantly, we can impact hardworking people and their families by providing affordable homes in safe spaces Chandler Park offers higher levels of luxury at affordable prices. "
Chandler Park, Owensboro, The apartment building with 320 residential units, built in 2014, is located in Owensboro, the fourth largest city in the state. The city is the only metropolitan area in the country that has reduced its unemployment rate from 4.4% year-on-year to 4.2% (June 2019-2020) and has seen immense growth in both the economy 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 areas with grills. The one to three bedroom apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops, and are pet friendly.
Chandler Park, Paducah, The apartment building with 240 residential units, built in 2016, is located in Paducah. The main economic drivers include transportation, manufacturing, and healthcare. Due to the City Block Project, a 3 acre multi-purpose development in downtown Paducah, the local economy is expected to grow exponentially.
The property is set on almost 12 acres with 7 apartment buildings and includes a resort-style swimming pool, extensive 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 and John Seale of The Kirkland Company. Brian Devlin, Managing Partner, commented, "Both Chandler parks have unmatched amenities and excellent locations for the city's in-demand drivers. Their A-Quality and outstanding design make these parks some of the best in the city."