CEDAR PARK, TEXAS — Newmark has arranged the sale of and financing for The Alden at Cedar Park, a 349-unit property in the Austin suburb of Cedar Park, located about 22 miles north of downtown. Newmark represented the undisclosed seller and procured the buyer, Weidner Apartment Homes. This transaction marks the Kirkland, Washington-based company’s first acquisition in the Austin MSA. Newmark arranged a Fannie Mae acquisition loan for Weidner.
Developed in 2020, The Alden at Cedar Park is a four-story community comprised of one- and two-bedroom floorplans. Amenities include a resort-style pool with cabanas, a clubhouse with a resident lounge and cocktail bar, outdoor entertainment areas with grilling stations and a 24-hour fitness center. The property was 95 percent leased at the time of sale. The Newmark team advising on the sale included Patton Jones and Andrew Dickson. Mitch Clarfield and Alec Newman arranged the loan.