Weidner Beats Out Competition to Enter the Austin MSA, Acquires 349-Unit Alden at Cedar Park

Features August 22, 2025| | Amy Wolff Sorter

Weidner Apartment Homes planted its stake in the Austin MSA with its acquisition of the 349-unit Alden at Cedar Park. The privately-held Kirkland, WA-headquartered real estate and investment buyer struck the deal with seller Starlight Investments, which had owned the property at 801 C-Bar Ranch Trail since 2020.

The sales price was undisclosed; with Newmark subsidiary Berkeley Point Capital issuing a $47.3 million Fannie Mae loan for the acquisition.

Newmark’s Patton Jones and Andrew Dickson represented the Canadian seller in its disposition of the 94%-occupied property, which sits on 6.64 acres and is located approximately 21 miles northeast of downtown Austin. The Newmark team had also worked with Starlight to acquire the property four years ago.

“The owner chose to sell now in order to redeploy capital elsewhere,” Jones told ApartmentBuildings.com. “There is immense buyer interest in the Austin MSA today, and the seller recognized that investors would see value in acquiring the Alden at Cedar Park.”

Jones said there was excellent investor interest in the property, with 300+ confidentiality agreements signed, 50+ tours and over 25 offers received. “Weidner was selected as the buyer because of their solid track record and impeccable reputation as a buyer/owner,” Jones explained. “They came highly recommended by Newmark’s West Coast brokers who have worked with them in the past.”

The Alden at Cedar Creek has a mix of one- and two-bedroom units, averaging 899 square feet. On-site amenities include a pool with in-water loungers and cabanas, an outdoor entertainment area with grills and flat-screen TVs, a hammock garden and a dog park. The property also provides a clubhouse with a lounge, private dining space, a cocktail bar, and a 24-hour fitness center.

Since Starlight acquired the property in 2020, Cedar Park and its surrounding communities have undergone dramatic growth. Jones said that the city of Cedar Park favors high-density multifamily developments to house its growing population and no longer allows garden-style communities because of land scarcity.

At the same time, high construction costs, soft rental rates (due to regional oversupply) and ongoing elevated interest rates make new construction difficult. “As a result, investors in the market today are buying at a low basis relative to replacement costs. They understand that new construction is unlikely in the future,” Jones explained.

And there are plenty of investors in the region today. Cedar Park is much sought after by potential multifamily buyers because of its outstanding demographics, highly ranked schools, proximity to tech campuses and expensive single-family homes.

Jones explained that the monthly homeownership cost in Cedar Park is 2.7 times higher than the rent at The Alden at Cedar Park. “As homeownership becomes less attainable, more renters are choosing to stay in their apartments longer,” Jones added. “This supports sustained demand for quality rental housing in the area.”

While Austin’s multifamily sector is soft, Jones believes the MSA could experience a housing shortage beginning in 2027. The current supply wave is expected to diminish in 2026, while ongoing construction challenges and affordability issues with homeownership are anticipated to push multifamily absorption.

“These factors will lead to increased apartment occupancy, higher rental rates and a strong market recovery,” Jones said. “This is history repeating itself, as we experienced a similar cycle between 2008 and 2010.”