Weidner Apartment Homes Buys 341-Unit Solaris House in Austin's Domain From Brandywine Realty Trust for $136M
Weidner Apartment Homes has acquired Solaris House Apartments, a 341-unit luxury high-rise in North Austin's Domain submarket, from Brandywine Realty Trust for $136 million, JLL Capital Markets announced Oct. 26. JLL represented the seller and arranged acquisition financing for the buyer through Nationwide.
The transaction is Weidner's fifth community in the Austin metropolitan area and expands its local portfolio to 1,560 units. The sale price works out to approximately $398,800 per unit, or about $367 per square foot based on the property's roughly 371,000 square feet.
Deal Details: Solaris House Apartments Sale
Solaris House is a 13-story, Class A apartment tower at 2800 Solaris Street, Austin, Texas 78758. The property was completed in 2024 and was 90.3% occupied at the Sept. 30, 2026 sale closing. Units average 945 square feet.
Brandywine Realty Trust owned a 57% interest in the project through a joint venture. The company reported $16.3 million of net cash proceeds from the sale after repayment of the project's $76.5 million construction loan and payment to its preferred partner.
JLL's Capital Markets Investment Sales and Advisory team represented the seller. It was led by Senior Managing Director Robert Wooten and Managing Directors Ryan McBride and Robert Arzola. JLL's Capital Markets Debt Advisory team, led by Senior Managing Director Tom Wilson, Senior Director Jayme Nelson and Associate Jake Davidson, arranged the acquisition financing for Weidner through Nationwide.
Property Features and Uptown ATX Location
Solaris House sits within Uptown ATX, a 66-acre master-planned mixed-use development by Brandywine adjacent to The Domain. Apartment interiors include granite countertops, stainless steel appliances, wood-style flooring, oversized garden tubs and ceilings of at least nine feet.
Community amenities include a fitness center, coworking lounge, pet spa and outdoor lounge. A rooftop pool deck offers private cabanas, grilling stations and a turfed recreation area.
Uptown ATX includes seven neighborhood parks and 23 miles of interconnected trails. A newly constructed CapMetro Red Line station provides transit connectivity between Downtown Austin and Leander. The development's One Uptown office component encompasses 347,000 square feet of Class A workspace designed to house approximately 1,000 employees.
The Domain district contains 4.4 million square feet of office space and 2.2 million square feet of retail. Employers in the district include Amazon, Expedia, Charles Schwab, Indeed and IBM.
Broker Commentary on the Austin Multifamily Market
"This transaction represents a strategic acquisition opportunity for Weidner to expand its Austin footprint with an irreplaceable asset in one of the city's most dynamic employment and retail corridors," said Wooten.
Wooten said the property's 2024 delivery positioned it to capture pent-up demand as Austin's development pipeline moderates, and that the surrounding Uptown ATX master plan will drive sustained rental demand.
"Austin's multifamily fundamentals continue demonstrating exceptional resilience, with the Domain submarket consistently outperforming the broader metro due to its concentration of high-wage employment and unmatched amenity base," added McBride. He said Weidner's institutional platform and operational expertise position it to maximize value from the asset.
JLL stated that the Austin metropolitan area adds more than 40,000 residents annually, with an unemployment rate below the national average and rising median household incomes.
Market Context: Austin Multifamily Recovery and Capital Recycling
The sale comes as Austin's apartment market works through a period of heavy supply. Metro vacancy stood at 11.4% in the third quarter, down from a 15.8% peak, and trailing-12-month absorption of 22,010 units exceeded 12,468 deliveries. Approximately 14,610 units remain under construction, while annual starts have fallen to roughly 7,000 units.
Rent growth remains weak. Average asking rent was approximately $1,565 per month, down 1.1% year over year, while effective rent was approximately $1,432, reflecting continued concessions. Austin's average multifamily cap rate was 5.7% in the third quarter, up from 5.41% in the second quarter.
Performance varies by submarket. Newmark reported 93.5% overall Austin multifamily occupancy in the second quarter, while Central Austin posted 8.1% vacancy and 1.2% year-over-year rent growth.
For Brandywine Realty Trust, the sale follows a broader property-sales strategy; the company has planned approximately $200 million of additional property sales in 2027. Brandywine, a real estate investment trust focused on Philadelphia and Austin, said its portfolio comprised 120 properties and 18.9 million square feet as of Sept. 30, 2025.
About the Parties
Weidner Apartment Homes, founded by W. Dean Weidner in 1977, is a real estate investment and property management company headquartered in Kirkland, Wash. Its portfolio spans 14 states and four Canadian provinces.
JLL Capital Markets is the capital solutions arm of JLL (NYSE: JLL), which reported annual revenue of $26.1 billion and a workforce of more than 112,000 as of June 30, 2026.
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