Case Study: Oberon-Waldo

Oberon – Waldo District

Prevail Alternative Assets – in partnership with EPC Real Estate Group – is pleased to present a new multifamily opportunity, Waldo District. Locally positioned in the Waldo neighborhood of Kansas City, MO, Waldo District will be a premier mixed-use development project. This will be a Class-A property primarily composed of multifamily units, with just under 14,000 sq ft retail space (36% of which is spoken for by local bar The Well).

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

Investor Return Summary*

Class A – Total of $3,500,000
- $250,000 per share
- 9% preferred return
- 22% – 24% LP Net IRR Targeted

Class B – Total of $2,500,000
- $100,000 per share
- 7.50% preferred return
- 20% – 22% LP Net IRR Targeted

Investment Snapshot

Total Project Cost – $86,844,974
Preferred Equity – $13,026,746
Total Equity – $17,368,995
Prevail Equity – $6,783,809 (22.3% of Total Equity)
Senior Loan – $56,449,233
- SOFR + 2.70%
- -65% Loan-to-Cost (LTC)

Property Information

Waldo District has been approved to receive a 20-year property tax exemption and a sales tax exemption on construction materials, which are estimated to total roughly $13.4M in cost savings.
The Waldo neighborhood currently has ZERO Class A multifamily and only four Class B multifamily properties. This will be a highly amenitized Class A product that aims to capitalize on strong area demographics, ability to absorb premium rents, and desirability of the surrounding area.
Waldo District is positioned along the Kansas/Missouri border, only 6.8 miles from downtown KC. Waldo’s location between downtown KC and Johnson County positions it to be attractive to young professionals looking for a suburban/urban feel.
Waldo District is conveniently located near high-traffic retail, restaurant, and entertainment districts like Brookside, Prairie Village, and The Country Club Plaza.

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