Davlyn Investments Purchases Colony Apartments Near Los Angeles for $24.2M

SIMI VALLEY, CALIF. — Davlyn Investments has purchased the 88-unit Colony apartments in the San Fernando Valley market of Simi Valley for $24.2 million. The Class A community is located at 1750 First St.

Davlyn plans to rebrand the project as 1750 on First. The 31-year old, value-add property’s interior, exterior and grounds have been maintained, though the asset has never been renovated. The company plans to upgrade the interiors and enhance staffing and marketing. The seller was not disclosed.

Vince Norris of Berkadia facilitated the purchase. Ryan Blair of City National Bank spearheaded the lending.