Press Release

Davlyn Investments Announces Up To $350 Million Commitment from Almanac Realty Investors; Closes First Four Acquisitions

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, 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 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 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, 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 this 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 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.

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 2,500 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 $447 billion in client assets as of March 31, 2022. For more information, please visit our website at

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 $7.0 billion in capital to 50 real estate companies, both public and private, throughout North America. For more information, visit

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