DLP Capital has acquired a 200-unit apartment property in Jonesboro, Arkansas, for an undisclosed price.
The company said in a statement Monday that the complex, known as Stadium Place, will be renamed DLP Jonesboro. The 21-year-old property has 1-, 2- and 3-bedroom apartments, and is near Jonesboro's retail center and Arkansas State University. Jonesboro is about 70 miles from Memphis, Tennessee.
"The acquisition of DLP Jonesboro continues to add to our growing portfolio," DLP founder and Chief Executive Officer Don Wenner said in a statement.
In July, DLP bought another property near a university, the 184-unit Edge at Kutztown. When announcing that transaction, DLP's Lou Davis, managing director of investments, said "Our team remains bullish on the Greater Lehigh Valley area."
Wenner founded DLP in 2009. The company has offices in Hanover Township (Northampton County) and St. Augustine, Florida.