DSP Real Estate Capital Closes $17.6M Apartment Purchase

Ashburn-based DSP Real Estate Capital has acquired Frontier Apartments, a 182-unit development near Roanoke, for $17.6 million.

The 15-building, garden-style complex was constructed in 1971.

Loudoun County residents Darius Saeidi, Stephen Karbelk and Purna Dokku founded DSP in July to invest in value-add multi-family communities in the southeastern region.   

“We are very pleased to acquire Frontier Apartments,” Dokku stated.  “Frontier caps off 2020 as our second multi-family acquisition and we’re very proud to be the new owners.”

The company previously acquired Colonial Court Townhomes in Colonial Heights.

“Closing this deal in record time was quite the task,” Saeidi said. “We went under contract on Nov. 13 and closed on Dec. 29. To close a transaction of this size so quickly, especially when we’re competing with the holidays, was a challenge but we were successful.” 

“Our 2021 goal is to acquire 500 to 700 more apartment units, with a special focus on pre-1980 construction garden-style or townhome-style communities,” Karbelk said. 

Learn more at dsprecapital.com.

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