In a nonstandard universe, the $\kappa$-saturation property states that any family of fewer than $\kappa$ internal sets with the finite intersection property has a nonempty intersection. An ordered field $F$ is said to have the $\lambda$-Bolzano-Weierstrass property iff $F$ has cofinality $\lambda$ and every bounded $\lambda$-sequence in $F$ has a convergent $\lambda$-subsequence. We show that if $\kappa < \lambda$ are uncountable regular cardinals and $\beta^\alpha < \lambda$ whenever $\alpha < \kappa$ and $\beta < \lambda$, then there is a $\kappa$-saturated nonstandard universe in which the hyperreal numbers have the $\lambda$-Bolzano-Weierstrass property. The result also applies to certain fragments of set theory and second order arithmetic.