Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Phoenix & Southwest  + Southwest  + Apartments  | 
Davlyn picks 252-unit Las Vegas apartment community

California Buyer Acquires 252-Unit Las Vegas Rental Community

Davlyn Investments, a California-based, multi-family investment firm, recently paid $67 million to purchase the “Spectrum,” a 252-unit, luxury, multi-family community in Las Vegas. The property, which has been re-branded “The Michael B Townhomes and Flats,” was constructed in 2010 and marks Davlyn’s third acquisition in Nevada. Taylor Sims and Brady Cleary of Cushman & Wakefield represented the Seller. A Newmark team arranged the debt. The seller was not disclosed.

Davlyn’s Jon Williams 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.

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.


Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
New call-to-action
Finance_Stat_BU_300x250_Banner_DG23_Prim_B_AC_2 Advertisement