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Davlyn Investments Acquires 273-Unit The Terraces at Highland Reserve Apartment Community for $95 Million in California


SAN DIEGO, CA - Davlyn Investments, a prominent California multi-family investment firm, recently closed escrow on the $95,000,000 purchase of “The Terraces at Highland Reserve,” a 273-unit, luxury, Class A, multi-family community in Roseville, California.  The property, which will be re-branded as “Ascent at the Galleria,” was constructed in 2002 and is Davlyn’s fourth acquisition in Northern California, and its first in the greater Sacramento market.  The NGKF team of Mark Leary and Nate Oleson represented the seller.
Paul Kerr, President of Davlyn, described the investment as follows, “Ascent presented an exciting opportunity to acquire a high-quality multifamily asset in a very desirable submarket, with extremely low transaction volume and equally high barriers to entry. As you’d expect with its age, the property has excellent ‘bones,’ and features nine-foot ceilings, in-unit washers and dryers, built-in fireplaces, modern architecture, barrel-tiled roo ....

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Carmel Valley Firm Buys $95M Apartment Complex


Monday, December 21, 2020
Ascent at the Galleria
Photo courtesy of Davlyn Investments
A San Diego real estate investment firm has acquired an apartment complex in Roseville, CA for $95 million.
Davlyn Investments based in Carmel Valley bought The Terraces at Highland Reserve with plans to rename the 273-apartment complex Ascent at the Galleria.
Mark Leary and Nate Oleson of NGKF represented the seller, who was not disclosed.
Davlyn represented itself.
Built in 2002, the apartments have nine-foot ceilings, washers and dryers, built-in fireplaces and at least one built-in desk.
The complex has more than 250 detached garages.
Ascent at the Galleria follows Davlyn’s recent $60 million acquisition of Metro Gateway in Riverside, CA. ....

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