Weidner, Haven Housing and PXV buy apartments as the 10-year Treasury rises

Apartment buyers kept reaching the closing table through the last week of September and the first two days of October, even as the 10-year Treasury kept rising. Weidner Apartment Homes purchased the 228-unit Aster at Sun Prairie from Continental Properties, with Berkadia representing the seller, per a Sept. 30 release; an Oct. 2 release announced Haven Housing's purchase of the 346-unit Evergrove at Crystal Village in Leander, Texas; Matt Ferrari's PXV Multifamily made its second apartment buy, following its August acquisition of the 216-unit Village on the Green in Atlanta for $29.5 million; and American Landmark, described in the coverage as one of the country's most active buyers, announced a deal alongside affordable housing specialist Jonathan Rose Cos. Not one of those five announcements came with a price.

The only number in the roundup is the $29.5 million PXV paid in August for the Atlanta property, which works out to roughly $137,000 a unit by our arithmetic, and that trade closed before the current week. Parties leave prices out of releases routinely, and the effect here is that a week of apartment transactions arrives with no evidence of where bids are clearing.

Ferrari told the publication in August, before the second purchase, that volatility over whether market rents are going up or down, and volatility in interest rates, 'actually makes it an exciting time to be an apartment investor,' provided the buyer picks 'the right markets and the right deals' and executes. He has since bought again.

Aster at Sun Prairie, the roundup's most fully described asset, is a 12-building community completed in 2018 that Continental, based in Menomonee Falls, Wisconsin, sold with direct-access units, a clubhouse, a pool, a fitness center and garage parking on the east side of the Madison metro near American Family Insurance's headquarters, the American Center Business Park and UW Health's East Side Medical Campus. Berkadia's Pete Evans, in the release, called the property part of Continental's 'Springs product' and said Madison continues to generate significant attention from prominent multifamily investors around the country.

Evans framed the trade as a match for Weidner's existing 'portfolio of premium multifamily properties in Sun Prairie and the Madison metro,' which puts a Kirkland, Washington operator alongside what it already owns. Continental sits on the other side of a familiar trade: a builder selling a 2018 delivery out of a product line its broker is still naming, which suggests capital being recycled into the next project.

Haven Housing's deal is harder to read: the Evergrove was completed in 2024 on 15 acres inside Crystal Village, a master-planned, mixed-use community in the Austin region with retail, dining and employment centers nearby, and the 346 class-A garden-style units run from one to three bedrooms, include private balconies or patios, and were 92% occupied at announcement. BH Properties, the Los Angeles parent, describes Haven as its affordable and multifamily platform, though the coverage does not say whether any Evergrove units carry income restrictions. Two years old and nearly full, the asset reads as a wager on where Austin-area rents go from here.

American Landmark and Jonathan Rose Cos. get a mention apiece and nothing more—no asset, no market, no price, and the coverage does not name the seller of the Evergrove either—but the names still carry information: American Landmark is, by the roundup's reckoning, a volume buyer; Jonathan Rose has spent decades in affordable housing; and together with PXV, Weidner and a Los Angeles platform, they show the range of private capital still underwriting apartments at a moment when the roundup's own hedge is that deals are crossing the finish line 'for now.'

Where the coverage does go deep, the sellers are the people who built: Continental delivered Aster at Sun Prairie in 2018 under what the release calls its 'Springs product,' and the Evergrove came out of the ground in 2024, two years before it changed hands. Young, leased apartment assets trading is what a market looks like when the equity that funded construction wants its capital back and the equity chasing income is willing to write the check, whereas a market where lenders take the keys looks different—a difference that matters when so much of the apartment conversation runs through maturity walls, extensions and rescue capital. As this publication has argued, that wall is being rolled rather than resolved, with the capital that controls extension terms setting the terms of the next ownership vintage.

Both detail-rich assets sit in metros whose employment anchors the releases were happy to name—an insurer, a health system and a business park in Madison; retail, dining and job centers around Leander—and both are young enough that amenity lists still do the selling. That standard marketing copy is also where the underwriting has to sit: with the 10-year still rising, the apartment trades that clear are the ones with a rent-growth story, which both releases are at pains to supply.

Berkadia sits on both sides of the week's business: in our recent pages the brokerage has been an arranger, with the $12.4 million LIHTC close that put it into Wallick Development's pipeline for the first time, and the $125 million construction loan behind PTM Partners' St. Pete tower, and on Aster at Sun Prairie it ran the sell side.

PXV's second purchase is the likeliest of the five to surface a number, because its first one did, while the American Landmark deal may matter more: a firm the roundup calls one of the country's most active buyers is a decent proxy for volume pricing, and a disclosed price on its latest acquisition would be the first hard read on what 2026 debt is doing to apartment bids.