Davlyn Investments Acquires Terraces at Highland Reserve Apartment Complex Near Sacramento for $95M
ROSEVILLE, CALIF. — San Diego-based Davlyn Investments has purchased The Terraces at Highland Reserve, an apartment property located in Roseville, a northeastern suburb of Sacramento, for $95 million. Davlyn plans to rebrand the 273-unit property as Ascent at the Galleria.
Constructed in 2002, the community features 273 apartments with nine-foot ceilings, in-unit washers and dryers, built-in fireplaces, modern architecture, barrel-tiled roofs, more than 250 detached garages and an extensive amenity package.
The property is Davlyn’s fourth acquisition in Northern California and its first in the greater Sacramento market. Mark Leary and Nate Oleson of Newmark represented the undisclosed seller in the deal.