DALLAS—DPG Investments, LLC and affiliates have structured $70 million in general partner, limited partner, senior debt, and mezzanine capital for a joint venture between Wilkinson Corporation and Capstone Communities Management, LLC for their acquisition of 1,568 apartment units in several multifamily properties located throughout Texas. Wilkinson is headquartered in Washington state, and Capstone is based in Texas.

Most of the units closed on July 8, while the remaining units are scheduled to close in approximately two weeks. These are the first closings in a single portfolio transaction, which is expected to total nearly $100 million in aggregate value and include more than 2,300 units when completed over the next 60 days.

“The Wilkinson Corporation's expertise and management strength were instrumental in DPG's ability to provide financing for the acquisition of this portfolio,” said Dan Galvanoni, chairman of DPG. “DPG has now participated as a financier in more than $100 million worth of multifamily properties with the Wilkinson companies. Another $40 million of investment is in the pipeline to close. Russell Wilkinson has built a world-class organization with Lonnie Gienger and George Waymire executing at high levels.”