The company generates consistent returns and results for its investors and partners and gives back through its Positive Returns Foundation.
DLP RE Capital leads and inspires the building of wealth and prosperity through the execution of innovative real estate solutions.
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Ballard Spahr LLP acted as legal advisor to DLP Bancshares and Luse Gorman, PC served as legal counsel to Sunnyside Bancorp and Sunnyside Federal.ĭLP Real Estate Capital, under the leadership of Founder and CEO Don Wenner, is a leader in the single and multi-family real estate sectors of brokerage, investment management, asset management, property management, construction, and private lending. and rendered a fairness opinion to the Board of Directors of Sunnyside Bancorp, Inc. Keefe, Bruyette & Woods, a Stifel Company, acted as financial advisor to Sunnyside Bancorp, Inc.
The bank is uniquely positioned to leverage DLP's real estate and investment expertise to provide a competitive and rewarding customer experience." Sullivan, President and CEO of Sunnyside Bancorp and Sunnyside Federal.įred Reinhardt commented: "We intend to offer private banking services to high net-worth investors and small business owners around the country but with an emphasis in the North- and Southeast. We are very enthusiastic about this partnership with DLP, which we believe will benefit our employees, customers and communities," said Timothy D. "This transaction provides excellent value to our shareholders, while still allowing Sunnyside Federal to continue to deliver the same level of superior service to our customers. I could not be more excited about this opportunity." Sunnyside's focus on supporting the community with personal and business banking needs is a perfect fit with DLP's mission to create prosperity.
#Dlp real estate management professional
Sunnyside Federal also expects to offer commercial real estate financing to professional operators and warehouse loans to private lending originators on a national basis.ĭon Wenner, DLP Real Estate Capital Founder and CEO, commented, "Acquiring a bank is a natural segue to broadening and enhancing the offering of products and services to our current and future DLP family of investors, partners, and customers. Sunnyside Federal will continue to operate as a community bank serving the needs of its consumer and business customers and emphasizing personalized and efficient customer service. Upon closing, Fred Reinhardt, a seasoned banking professional, will take the reins as President and CEO of Sunnyside Federal. The transaction is expected to close in the fourth quarter of 2021. This transaction is subject to regulatory approval and approval by Sunnyside Bancorp's shareholders.
Under the terms of the agreement, shareholders of Sunnyside Bancorp will receive $15.55 in cash per share, subject to adjustment, if any, as provided in the merger agreement. ( OTCBB: SNNY) announced today that it had entered into an agreement with DLP Bancshares, an affiliate of DLP Real Estate Capital, a private financial services and real estate investment firm, pursuant to which DLP Bancshares would acquire Sunnyside Bancorp and its subsidiary, Sunnyside Federal Savings and Loan Association of Irvington ("Sunnyside Federal").
AUGUSTINE, Fla., Ma/PRNewswire/ - Sunnyside Bancorp, Inc.
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