Case Study- Forum at Grand Prairie

Forum at Grand Prairie
(Midwest Multifamily)

Prevail Alternative Assets is pleased to announce the Forum at Grand Prairie—a promising multifamily acquisition opportunity located in Grand Prairie, TX. This investment presents a unique chance for long-term ownership with significant upside potential.

The Forum at Grand Prairie is ideally situated in a well-established suburban area with quality schools and offers convenient access to both Dallas and Fort Worth, enhancing employment opportunities.

Our partner, ClearWorth Capital, specializes in revitalizing and repositioning underperforming multifamily real estate assets through strategic physical improvements and operational enhancements.

If you have any questions, please reach out to your advisor or contact Regan Smith at rsmith@prevailiws.com

Investor Return Summary*

  • Class A – $500,000 per Share
    • 19% LP Net IRR Target
    • 2.30x Equity Multiple Target
    • 8.50% Cash Yield (Stabilized)
  • Class B – $200,000 per Share
    • 19% LP Net IRR Target
    • 2.30x Equity Multiple Target
    • 8.50% Cash Yield (Stabilized)
  • Class B – $100,000 per Share
    • 19% LP Net IRR Target
    • 2.30x Equity Multiple Target
    • 8.50% Cash Yield (Stabilized)
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Investment Snapshot

  • Total Project Cost – $55,058,084
  • Senior Loan – $31,850,000
    • 57.9% Loan-to-Cost
    • 5.90% Fixed Rate
  • LP Equity – $20,860,275
    • Prevail Equity – $6,000,000
  • GP Equity – $2,317,808




Property Information

  • Our acquisition price is approximately 32% lower than recent comparable trades, both on a price per unit and price per square foot basis. This strong positioning, combined with an underwritten cap rate of around 5.75%, makes this investment particularly attractive due to its low initial cost and potential for significant upside.
  • The property’s exterior, unit interiors, and branding are poised for a significant transformation, shifting from an average or below-average state to one that resonates with residents, thereby leading to heightened rental rates.
  • The Forum was constructed in 2006 and is an attractive property situated in a secure, family-friendly neighborhood. It is located in a market with strong fundamentals and close to major employers, all indicating a bright future for this asset.
  • The Dallas-Fort Worth area saw an influx of 150,000 people over the past year, bringing the population to over 8.1 million according to the U.S. Census Bureau. Additionally, CoStar predicts that population growth within a 1-mile radius of the Forum at Grand Prairie will continue at a rate of 3% annually through 2028, indicating a robust and growing market for renters.

*These are all preliminary estimates, with no guarantee of performance, and involve risk.

Important Information

This communication is neither an offer to sell nor a solicitation of an offer to buy any security. An offer may only be made via a written offering document by Prevail Alternative Assets, LLC (“Prevail”). Prevail will provide such offering documents (“Documents”) only to qualified accredited investors and has prepared this communication solely to enable you to determine whether you are interested in receiving additional information about it or the real estate project summarized above (the “Project”). This communication must be read in conjunction with the Documents prior to making any investment decision. Information about the Project contained herein has not been audited or reviewed by any third party. While projections about the Project’s future performance is based on Prevail’s experience and good faith judgments, the recipient should understand that projections are based on numerous assumptions, including that the current economic environment continues, that existing asset performance trends will continue to track business plans, that historical behavior of the Project’s property type will not change, that perception of market opportunities for disposition will hold true, and that the competitive landscape within which the Project operates will not change. Returns to investors would be contingent upon numerous events occurring and subject to considerable risks. Significant assumptions were made by Prevail to calculate the presented projections, including assumptions on the amount of leverage used by the Project, the Project having sufficient assets and cashflows, debt service and capital expenditures, the continuation of favorable leasing terms, the operating costs for the Project, the costs of taxes and insurance, the absence of claims against the Project, that lease terms (including rental rates) continue, that projected occupancy and rollover rates continue, that management and other expenses remain constant, and that property-level debt will not need to be refinanced at less favorable terms.

The Project’s future capitalization will be contingent upon numerous events occurring and subject to considerable risks. The occupancy and rollover rates of the Project will be dependent upon many factors beyond the control of the Project or Prevail. Any expression of targeted rates is merely a statement of a goal. Significant assumptions were made by Prevail to calculate the presented occupancy and rollover rates. Many factors can impact the Project’s after-tax returns, including the risk that tax laws may change. A myriad of factors may impact the Project’s ability to achieve any returns. Any number of factors could contribute to results that are materially different. All investment opportunities presented by Prevail involve substantial risk and may result in the loss of some or all of your investment. Please do not forward this email.

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