Weidner Enters Austin With 349-Unit Purchase
Berkeley Point Capital issued a $47.3 million loan.
Weidner Apartment Homes has entered the Austin, Texas, market with the acquisition of The Alden at Cedar Park, a 349-unit asset in Cedar Park, Texas. Starlight Investments sold the property, according to Yardi Matrix data.
Berkeley Point Capital—a subsidiary of Newmark—issued a $47.3 million Fannie Mae acquisition loan, public records show. Newmark brokered the deal on behalf of the seller and arranged the acquisition loan for the buyer.
Starlight acquired the building in 2020, the same year Slate Real Estate Partners brought it online, the data provider shows.
The Alden at Cedar Park rises four stories, featuring a wrap-around style construction. Floorplans range between one- and two-bedroom layouts, averaging 899 square feet. The community was 95 percent occupied at closing.
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Located at 801 C-Bar Ranch Trail, the property is about 21 miles northeast of downtown Austin. Thoroughfares such as U.S. Route 183 and Texas State Highway 183A run within less than 2 miles, connecting to the greater metro region. Several retail outlets can be accessed within walking distance.
Community amenities consist of a swimming pool with shaded cabanas, a clubhouse featuring a resident lounge and bar, as well as a gym and outdoor areas comprising grilling stations.
Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson spearheaded negotiations on behalf of Starlight Investments. Executive Vice Chairman Mitch Clarfield and Director Alec Newman arranged the debt placement on behalf of Weidner. Notably, Newmark also brokered Starlight’s previous purchase in 2020.
Since its inception in 1977, Weidner has expanded to own and operate 62,018 units across the U.S. as of April 2024. However, the company continued to increase its national footprint. Just last month, it paid $107.5 million for the 484-unit CityPark View Apartments in Charlotte, N.C.
Austin’s completions press heavily on rent and investment
With 9.5 percent of the market’s inventory having debuted during the past 12 months, metro Austin’s advertised asking rents declined 4.6 percent year-over-year as of July, according to a Yardi Matrix report. Notably, its occupancy rate dropped just 20 basis points year-over-year, down to 92.7 percent in June.
While the metro struggles with a supply glut, sales also declined. Investors traded some 5,000 units during the first seven months of 2025 across assets having 50 or more apartments, the data provider shows. That marked a 26.5 percent decrease year-over-year.
One other notable Austin deal closed earlier this year. AvalonBay paid $618.5 million to purchase eight properties across Texas, encompassing 2,701 units. Two of the assets, consisting of 857 units, were within Greater Austin and commanded $187 million.
