Weidner Apartment Homes Acquires 349-Unit Multifamily Property In Cedar Park For $47.3M

The property involved in the transaction is a multifamily asset located at 801 C Bar Ranch Trail in Cedar Park, comprising 349 units. It was acquired for $47.3 million and is 95% occupied. Built in 2020, the property features one- and two-bedroom units with an average size of 899 square feet, and includes amenities such as a pool, clubhouse, gym, and outdoor grilling areas.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47.3 million
• Units: 349
• Buyer: Dean Weidner - Weidner Apartment Homes
• Seller: Starlight Investments
• Brokers: Patton Jones & Andrew Dickson - Newmark
• Lender: Berkeley Point Capital
• Mortgage Brokers: Mitch Clarfield & Alec Newman - Newmark

This acquisition marks Weidner Apartment Homes' entry into the Austin market, facilitated by a Fannie Mae-financed loan. The transaction highlights the collaboration of several key brokers and mortgage professionals, ensuring a successful deal for both the buyer and seller.