Westchester Village Portfolio St. Joseph & Oak Grove, MO

Investment Highlights

Westchester Village of St. Joseph

• Recent LIHTC Expiration – Immediate Market Rate Conversion Opportunity
• Meticulously Maintained by Original Developer
• Premier Retail Corridor Positioning
• Significant Value-Add Upside with Strategic Modernization and Market Rate Transition
• Extremely Attractive Basis – Well Below Current Replacement Cost
• Strategic Regional Connectivity
• Demand-Optimized Unit Mix – 70% Two-Bedroom Concentration
• Offered Free and Clear of Existing Debt

Recent LIHTC Expiration – Immediate Market Rate Conversion Opportunity

Westchester Village of St. Joseph recently exited the LIHTC program in 2024, eliminating rent and income restrictions that had governed operations for over three decades. The expiration unlocks an immediate and multi-layered revenue growth opportunity: in-place rents can now be advanced to market levels on a unit-b y-unit basis as classic interiors are renovated, and ancillary income streams — including parking fees, utility bill-backs (RU Bs), and pet fees — are now fully available to ownership. With comp supported market rents running materially above current in-place levels, the conversion trajectory is well-defined and executable. An acquirer assuming the asset today captures both the immediate upside from the market-rate conversion and the longer term compounding benefit of a fully unrestricted rent roll in a supply-constrained, high-demand suburban submarket.

Meticulously Maintained by Original Developer

Westchester Village of St. Joseph was developed in 1993 by its current ownership and has remained under continuous single owner stewardship for over 30 years — a tenure that reflects disciplined asset management and a well-maintained physical plant. This offering marks the property’s first appearance on the open market, presenting investors with an acquisition opportunity that is largely absent from the deferred maintenance and operational complexity typically associated with assets that have changed hands multiple times. The preservation of original ownership ensures that capital deployed by an incoming owner can be directed toward value-creation — interior renovation and market-rate conversion — rather than remediation of prior ownership neglect.

Westchester Village of Oak Grove

• LIHTC Expired – Immediate Market Rate Conversion Opportunity
• Meticulously Maintained by Original Developer
• Exceptional Unit Mix – Large Three & Four-Bedroom Floor Plans – 1,117 Avg SF
• Sustained Population Growth Within an Expanding KC Metro Corridor
• Significant Value-Add Upside with Strategic Modernization and Market Rate Transition
• Suburban Kansas City MSA Location – Immediate I-70 Corridor Access
• Offered Free and Clear of Existing Debt

LIHTC Expired – Immediate Market Rate Conversion Opportunity

Westchester Village of Oak Grove exited the LIHTC program in 2023, eliminating rent and income restrictions that had governed operations for over three decades. Current ownership has largely continued to operate the property as naturally occurring affordable housing. The expiration unlocks an immediate and multi-layered revenue growth opportunity: in-place rents can now be advanced to market levels on a unit-by-unit basis as classic interiors are renovated, and ancillary income streams — including parking fees, utility bill-backs (RUBs), and pet fees — are now fully available to ownership. With comp-supported market rents running materially above current in-place levels, the conversion trajectory is well-defined and executable. An acquirer assuming the asset today captures both the immediate upside from the market-rate conversion and the longer-term compounding benefit of a fully unrestricted rent roll in a supply-constrained, high-demand suburban submarket.

Meticulously Maintained by Original Developer

Westchester Village of Oak Grove was developed in 1992 by its current ownership and has remained under continuous single-owner stewardship for over 30 years — a tenure that reflects disciplined asset management and a well-maintained physical plant. This offering marks the property’s first appearance on the open market, presenting investors with an acquisition opportunity that is largely absent of the deferred maintenance and operational complexity typically associated with assets that have changed hands multiple times. The preservation of original ownership ensures that capital deployed by an incoming owner can be directed toward value-creation — interior renovation and market-rate conversion — rather than remediation of prior ownership neglect.

Tenant Services