**Weidner Apartment Homes Acquires 349-Unit Community in Cedar Park, Texas**
Weidner Apartment Homes has acquired The Alden at Cedar Park, a 349-unit multifamily property located in Cedar Park, Texas, a suburb northwest of Austin. The property, which was 95% occupied at the time of sale, was purchased from Starlight Investments.
Berkeley Point Capital, a subsidiary of Newmark, provided a $47.3 million Fannie Mae acquisition loan to facilitate the transaction. Newmark represented the seller and secured financing for the buyer.
Originally developed by Slate Real Estate Partners and brought online in 2020, The Alden at Cedar Park features a four-story layout with one- and two-bedroom floor plans averaging 899 square feet.
Amenities at the community include a resort-style swimming pool with shaded cabanas, a clubhouse with a resident lounge and bar, a state-of-the-art fitness center, and outdoor grilling stations.
Newmark professionals Patton Jones and Andrew Dickson led the negotiations on behalf of Starlight Investments. Mitch Clarfield and Alec Newman arranged the financing on behalf of Weidner Apartment Homes.
