Aaron Pacillio, Chief Investment Officer of Davlyn Investments, described the investment as follows, “The Michael B Townhomes and Flats presents an opportunity to acquire an institutional-quality asset in southwest Las Vegas’s “The Curve” neighborhood. Over the last few years, The Curve has emerged as one of the valley’s most dynamic areas, exemplified by the Durango Station Resort and Casino, and mixed-use developments such as UnCommons, The Bend and Gramercy.” Aaron added, “Along with the interior appointments and community amenities one expects with a newer community, the property features a very desirable unit mix consisting of over forty percent two-bedroom townhomes.”

Jon Williams, CEO of Davlyn Investments, stated, “Due to increasing living costs and high tax rates in other western markets, Las Vegas continues to benefit from net in-migration, while offering its residents a vast employment market, high quality of life, and no state income tax. Its nearly 20% population growth since 2010 speaks to the desirability of area. Bolstered by developments currently underway, resulting in the complete transformation of “The Curve,” the southwest valley should enjoy elevated prominence for years to come. Accordingly, this acquisition is consistent with our long-term investment strategy to acquire well-located, quality apartment communities in compelling markets throughout the West.”

Purchase of “The Michael B Townhomes and Flats” follows recent acquisitions in the Phoenix and Las Vegas metropolitan areas, bringing Davlyn’s total acquisition activity over the past eighteen months to over $465 million across five acquisitions. Davlyn Investments is a San Diego-based owner/operator of apartment communities throughout California, Arizona and Nevada. Since its founding in 1993, the firm has acquired over $1.9 billion in real estate assets. The company is headed by Jon Williams and Paul Kerr.

For further information, please contact:

Aaron L. Pacillio, Chief Investment Officer

Davlyn Investments

Phone: 949.756.1110

Email: [email protected]

The post Davlyn Investments Acquires Third Las Vegas Property appeared first on Davlyn Investments Blog.

Aaron Pacillio, Chief Investment Officer of Davlyn Investments, described the investment as follows, “Aviara presented an opportunity to acquire a high-quality asset in a submarket with strong economic fundamentals. The property offers desirable attributes, such as central heating and air conditioning, in-unit laundry, vaulted ceilings, fireplaces, arid landscaping, plentiful parking, and an expansive community amenity package. It features low density, two-story construction situated on 9.1 acres. Further, the property is near several major retailers, restaurants, and the Southwest Valley’s Desert Breeze Park. Scenic recreational trails are located nearby at Las Vegas’s famous Red Rock Canyon.” Aaron added, “This exceptional foundation, coupled with our renovation plan, will ultimately allow us to provide one of the best apartment experiences in the Southwest Valley.”

Jon Williams, CEO of Davlyn Investments, stated, “Due to increasing business and living costs in other western markets, the Las Vegas MSA has benefited from natural migration towards markets that offer high-quality lifestyles that are more affordable than those found on the West Coast. Its nearly 20% population growth since 2010 and double-digit Year-Over-Year rent growth exemplify this fact. Bolstered by developments currently underway, notably the transformation of “The Curve” a few miles south on Durango Road, the Southwest Valley should enjoy elevated apartment demand for years to come. Accordingly, this acquisition is consistent with our long-term investment strategy to acquire well-located, quality apartment communities in compelling markets throughout the West.”

Aviara follows Davlyn’s recent acquisitions in the Phoenix and Las Vegas metropolitan areas, bringing Davlyn’s total acquisition activity over the past six months to nearly $370 million across four acquisitions. Davlyn Investments is a San Diego-based owner/operator of apartment communities throughout California, Arizona and Nevada. Since its founding in 1993, the firm has acquired over $1.8 billion in real estate assets. The company is headed by Jon Williams and Paul Kerr.

For further information, please contact:

Aaron L. Pacillio

Chief Investment Officer

 Davlyn Investments

999 Corporate Drive, Suite 100

Ladera Ranch, CA 92694

Phone: 949.756.1110

Cell: 949.254.8235

Email: [email protected]

The post Davlyn Investments Acquires Las Vegas Apartment Community appeared first on Davlyn Investments Blog.

For Immediate Release
 

February 28, 2022 – San Diego, CA – Davlyn Investments, a vertically-integrated owner and operator of multifamily communities, and Almanac Realty Investors, the private real estate investment arm of Neuberger Berman (“Almanac”), announced the formation of DA InvestCo (“Davlyn”), a company dedicated to the acquisition, redevelopment, repositioning and management of multifamily assets in the Western US. Almanac’s commitment of up to $350 million in client funds will provide capitalization that will allow Davlyn to further its growth strategy and scale operations.

Headquartered in San Diego, Davlyn has a 30-year track record of owning and managing apartment communities throughout California. Under the leadership of Jon Williams and Paul Kerr, Davlyn has acquired over 7,500 multifamily units, at a total cost exceeding $1.3 billion. In addition, a tenured and talented executive team has been instrumental in producing attractive results for its partners.

Since forming its partnership with Almanac, Davlyn has closed on the acquisition of four properties totaling nearly 1,200 units with an aggregate capitalization over $420 million. A leader in the California multifamily market, Davlyn has now expanded into the Phoenix and Las Vegas markets as well, and will continue to target opportunities in these markets to strengthen and grow its portfolio.

“Almanac’s capital platform and our expertise in multifamily acquisitions and operations will propel our firm through its next growth phase and beyond. Through our partnership with Almanac, we expect to grow our portfolio over the next few years by over $1.5 billion, so we are very excited to partner with this like-minded, entrepreneurial team in this new venture,” said Jon Williams, Davlyn CEO.

“We are pleased to establish this partnership to support and enhance the growth opportunities for Davlyn,” said Andrew Silberstein, Head of Private Markets at Almanac. “The Davlyn team has a long standing track record of creating value for investors and we believe the prospects for growth within both their current and target expansion markets are substantial.”

About Almanac Realty Investors

Almanac Realty Investors, a business unit of Neuberger Berman, is a leading provider of growth capital to public and private real estate companies. Originally founded in 1981 under the name Rothschild Realty, Almanac Realty Investors partners with established owner-operators in all sectors of the real estate market to accelerate company growth and has committed more than $6.8 billion in capital to 49 real estate companies, both public and private, throughout North America. For more information, visit www.almanacrealty.com.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman’s diverse team has over 2,400 professionals. For eight consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $460 billion in client assets as of December 31, 2021. For more information, please visit our website at www.nb.com.

About Davlyn Investments

Davlyn Investments is a vertically integrated real estate investment company focused on the ownership and management of apartment communities throughout California, Phoenix, Arizona and Las Vegas, Nevada. With nearly 30 years of operating experience, Davlyn Investments has developed an unmatched attention to detail and the highest level of service for its residents. Davlyn Investments seeks to create value by acquiring and improving highly desirable communities, located in well-established locations.

The year 2020 represents the first year that asset managers became eligible for PRI Leader designation, which formerly included asset owners only. The new designation was awarded to only 20 of the 2100+ investment manager PRI signatories. The Leaders’ Group showcases signatories at the cutting edge of responsible investment, and highlights trends in what they are doing. PRI uses signatories’ reporting responses and assessment data to identify those that are doing excellent work in responsible investment – across their organizations and with a focus on a given theme each year. The 2020 theme is climate reporting. Information about PRI Leader is sourced entirely from PRI and Neuberger Berman makes no representations, warranties or opinions based on that information.

This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions.

The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC.
© 2022 Neuberger Berman Group LLC. All rights reserved.

Media Contacts:

Alex Samuelson, Neuberger Berman, 212 476 5392, [email protected]

The post Davlyn Investments Announces Up To $350 Million Commitment from Almanac Realty Investors; Closes First Four Acquisitions appeared first on Davlyn Investments Blog.

Aaron Pacillio, Chief Investment Officer of Davlyn Investments, described the investment as follows, “Boulders at Lookout Mountain presented an opportunity to acquire a high-quality asset in a submarket with strong economic fundamentals. The property offers desirable attributes, such as central heating and air conditioning, in-unit laundry, wood-burning fireplaces, walk-in closets with built-in shelving, arid landscaping, plentiful parking, and an expansive community amenity package. It features low density, two-story construction situated on 16.7 acres. Further, the property is walkable to several major retailers, grocers, restaurants, and an adjacent greenway walking path. More recreational trails are located nearby at Lookout and Shadow Mountains.” Aaron added, “This exceptional foundation, coupled with our renovation plan, will ultimately allow us to provide one of the best apartment experiences in North Phoenix.”

Jon Williams, CEO of Davlyn Investments, stated, “Due to increasing business and living costs in most western markets, Phoenix attracts an upwardly mobile population that gravitates toward markets that offer a high-quality, affordable lifestyle. In addition, its income growth of 44.2% since 2010 compares very favorably against all other high-growth western markets. Boulders at Lookout Mountain’s benefits greatly from access to the Deer Valley and I-17 employment corridors. Notable among firms expanding into North Phoenix, is Taiwan Semiconductor Manufacturing Company, which recently began constructing a $12.0 billion chip fabrication plant. Several chip component producers will, by necessity, need to be nearby.” Mr. Williams continued “This acquisition is clearly consistent with our long-term investment strategy to acquire well-located, quality apartment communities throughout the Phoenix Valley.”

Boulders at Lookout Mountain follows Davlyn’s recent acquisitions in Chandler, Arizona and North Las Vegas, Nevada, bringing Davlyn’s total acquisition activity over the past 30 days to over $300 million. Davlyn Investments is a San Diego-based owner/operator of apartment communities throughout California, Arizona and Nevada. Since its founding in 1993, the firm has acquired over $1.7 billion in real estate assets. The company is headed by Jon Williams and Paul Kerr.

For further information, please contact:

Aaron L. Pacillio
Chief Investment Officer
Davlyn Investments
999 Corporate Drive, Suite 100
Ladera Ranch, CA 92694

Phone: 949.756.1110
Fax: 949.756.1112
Cell: 949.254.8235
Email: [email protected]

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The post Davlyn Investments Acquires Third Phoenix Apartment Community appeared first on Davlyn Investments Blog.

Aaron Pacillio, Davlyn’s Chief Investment Officer, described the investment as follows, “Sonata presented an opportunity to acquire off-market, directly from the seller, a recent-vintage, multi-family asset in a very strong submarket. In addition to the amenity package one would expect at a newer community, this property features unit offerings that distinguish it in the submarket, such as open floor plans, expansive kitchen islands and bay windows. It has a great unit mix and offers large unit sizes, averaging 904 s.f. These excellent characteristics, paired with attractive common area amenities, should help maintain strong demand for this property. Further, its vintage protects against major capital expenditures through the hold period.” “Due to these factors,” Aaron added, “our rents should remain attainable to the average metro-area resident, thus exemplifying the ‘missing middle’ product sought by residents and investors alike."

Jon Williams, CEO of Davlyn Investments, stated, “Due to increasing business and living costs in other western markets, North Las Vegas, along with the greater Las Vegas MSA, has benefited from natural migration towards markets that offer high-quality lifestyles that are more affordable than those found on the West Coast. Its 19.9% population growth since 2010 exemplifies this fact. In addition, largely due to a lack of new construction in the submarket, we expect a supply imbalance in North Las Vegas for the foreseeable future. Finally, Sonata is accessible to the region’s primary employment corridors through its proximity to I-15 and its location on Craig Road, the north valley’s primary east-west corridor. Accordingly, this acquisition is consistent with our long-term investment strategy to acquire well-located, quality apartment communities throughout the Las Vegas Valley.”

Sonata follows Davlyn’s $114,385,000 acquisition last month of Trevi, a luxury apartment community in Chandler, AZ, and precedes another nine-figure acquisition set to close next week. Davlyn Investments is a San Diego-based owner/operator of apartment communities located throughout California, Arizona and Nevada. Since its founding in 1993, the firm has acquired over $1.6 billion in real estate assets. The company is headed by Jon Williams and Paul Kerr.

For further information, please contact:

Aaron L. Pacillio
Chief Investment Officer
Davlyn Investments
999 Corporate Drive, Suite 100
Ladera Ranch, CA 92694

Phone: 949.756.1110
Fax: 949.756.1112
Cell: 949.254.8235
Email: [email protected]

Get PDF

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