oak iq development

Cultivating Value Through Strategic Real Estate Investments

Oak IQ Development specializes in strategic multi-family development with a laser focus on the Kansas City Metro Market.

#1

Best City in the U.S. for Remote Work, 2021

Lonely Planet, 2022

#3

Cities for Tech Industry Growth

KC Tech Council, 2023

#3

in the Nation for High Paying Occupations

News & World Report, 2023

Top 10

City for Net Migration Gains

Linkedin, 2023

Creating Value by Delivering

On Time

With over a decade of proven experience, our team has consistently executed multifamily development projects on schedule. Backed by a track record of arranging over $XXX million in retail and institutional equity and managing 15+ successful funds, we understand the importance of meeting deadlines to ensure investor confidence and operational efficiency.

On Budget

Our disciplined approach to budgeting and cost management ensures that projects remain financially sound without compromising quality. Over the years, we've partnered with institutional investors who trust our ability to allocate resources effectively and maximize returns. With a flawless record of safeguarding investor capital, we've built a reputation for delivering value at every stage.

High-Quality

Quality isn't just a promise; it's our standard. By leveraging extensive expertise in multifamily development, strategic relationships, and rigorous attention to detail, we ensure every project exceeds expectations. From groundbreaking to completion, our commitment to excellence is evident in every structure we create and every partnership we maintain.

Experts in Kansas City Metro, Partners in Kansas City Metro

Oak IQ represents a strategic multifamily development team with a proven, disciplined approach to value creation in the Kansas City metropolitan market. Our institutional-caliber investment strategy spans two distinct yet complementary investment verticals:

Ground-Up Development

Meticulously curated Class A multifamily developments that capitalize on emerging urban and suburban growth corridors

Value-Add Repositioning

A $150M+ portfolio of 700 Class B/C properties with systematic enhancement strategies designed to drive superior risk-adjusted returns

Our differentiated investment approach is underpinned by a demonstrable track record of capital preservation and consistent performance

Zero capital loss across 15+ institutional fund cycles

$70M+ in committed equity capital from sophisticated institutional partners

Comprehensive vertical integration spanning acquisition, development, construction, and asset management

Our experienced team brings decades of institutional real estate experience, with deep expertise in:

For institutional investors seeking a disciplined, market-specialized multifamily investment partner with a proven ability to generate superior risk-adjusted returns, Oak IQ offers a compelling market-native platform with a demonstrated commitment to institutional-grade investment principles.

Surgical market selection and site acquisition.

Advanced architectural design and construction optimization.

Sophisticated asset management and operational excellence.

Institutional capital markets and investor relations strategy.

our people

Leadership Team
Aaron Leatherdale
Founder & CEO

Aaron Leatherdale is a born entrepreneur who caught the real estate “bug” at age 22 when he purchased his first 4plex. Aaron then went on to build a portfolio of 40+ rental units in the US and Canada while launching multiple businesses including SFR home-flipping, a short term rental business (Airbnb’s), an outdoor advertising company, and a sales business serving real estate investors across the nation and generating over $3MM of sales in its first year. Aaron also built a property management company from scratch with 60+ rental units for the sole purpose of learning and experiencing firsthand the PM business, only to dissolve that company and liquidate his portfolio to invest the equity into larger assets.

In 2021, Aaron founded Oak IQ Investments and grew the company to $115MM+ of multifamily AUM in 3 states. Aaron is also the founder and CEO of Arkbuilt Construction which currently oversees $7MM+ of renovation projects in Kansas City.

When it comes to real estate investing, Aaron’s philosophy is, “You don’t find deals, you create them”. As a result, Aaron has been involved in many unique and creative real estate transactions including converting condominiums to multifamily properties, compiling townhomes and houses into packages and selling them for a profit, wholesaling, house-hacking, NNN master leases of multifamily properties, purchase options, high-end SFR flips, short term rentals, renovating properties destroyed by fire, complex syndications and JV partnerships, seller-financed deals, 1031 exchanges, and various TIC structures designed to defer tax. Aaron has negotiated and transacted on a wide range of investment properties from packages of SFR’s all the way up to 300+ unit Class A apartment buildings straight from the developer.

Aaron is highly skilled and knowledgeable with creative financing and varied capital stacks including low/no money down deals, owner-financing and seller carry back loans, hard money/private loans (secured and unsecured), mezz debt, pref equity, common equity, conventional mortgages in both the US and Canada, bank debt, and Fannie/Freddie agency financing.

A persistent negotiator and optimist, Aaron has closed many deals that others said could not be closed. With a winning mindset, Aaron finds fulfillment and joy in adding value wherever possible, and helping his clients, partners, and friends grow into their fullest potential.

...
Read more
Neil Geary
Chief Financial Officer

Neil has more than 25 years of experience in real estate development and financial management, having previously worked at three private development firms in the Greater Boston Metro Area and at a REIT in Washington, D.C. His experience spans multiple asset classes including mixed-use properties, hotels, commercial real estate, and residential projects with significant involvement in ground-up developments. He has overseen a wide array of financial activities throughout his career, including private equity investments, construction loans and permanent loans. His recent work also includes clients in the Life Sciences, Software as a Service (SaaS), Retail, and other entrepreneurial business ventures. Neil received his MBA at the F.W. Olin Graduate School of Business at Babson College and is a member of the Real Estate Finance Association (REFA) and the Urban Land Institute (ULI).

...
Read more
Tim Hickok
Managing partner - Hickok - Dible

Tim Hickok is the third generation President of Hickok-Dible and hasbeen responsible for creating thousands of homes for people in theKansas City area and beyond. His entrepreneurial mindset andcreative design ideas are a big reason why Hickok-Dible is continuingto thrive 116 years later.

...
Read more
Development Team
Neil Geary
Chief Financial Officer

Neil has more than 25 years of experience in real estate development and financial management, having previously worked at three private development firms in the Greater Boston Metro Area and at a REIT in Washington, D.C. His experience spans multiple asset classes including mixed-use properties, hotels, commercial real estate, and residential projects with significant involvement in ground-up developments. He has overseen a wide array of financial activities throughout his career, including private equity investments, construction loans and permanent loans. His recent work also includes clients in the Life Sciences, Software as a Service (SaaS), Retail, and other entrepreneurial business ventures. Neil received his MBA at the F.W. Olin Graduate School of Business at Babson College and is a member of the Real Estate Finance Association (REFA) and the Urban Land Institute (ULI).

...
Read more
Dale Harris
Development Team

Dale is a highly skilled professional Owner/Developer Agent, with experience in land acquisition, development and construction management of Commercial, Multi-family and Senior properties. With over 35 years of expertise in this field, he continues to help Owners/Developers successfully manage and direct construction projects.

Dales qualifications include:

* Superb project management capabilities as a general contractor, building small to multi-million-dollar projects (2 to 50 million dollars), single to multi-story apartment complexes from 32 to 350 units, Senior housing projects from 64 to 180 units, commercial buildings and renovation of historic buildings for apartments and retail space. This has included purchasing materials, hiring and managing subcontractors, dealing with building codes, permits, and interacting with owners, architects, and contractors.

* Experienced in all facets of land acquisition and development. Developing hundreds of acres of land for commercial and residential properties. Over the past 35 years, Dale has had full profit/loss responsibility for Multi-Family, Senior and Commercial construction projects.

* The ability to “think on his feet” when appropriate. Proactively and creatively resolve concerns with a strong commitment to quality and client/owner satisfaction. Dales knowledge and expertise allows him to contribute to your continued success in the development and construction of new projects.

...
Read more
Wylie Saulsbury
Development Team

Wylie is a highly skilled professional Owner/Developer Agent with over 20 years of experience in management of Commercial, Multi-Family and Senior living construction.  Wylie successfully started, owned and operated a manufactured stone veneer and stucco business for 20 years and was sold to a national firm.  Additional experience includes general principals in all facets of construction, teaching certified AIA courses, and working with city government for land acquisition, permitting, zoning and special use permitting.  Wylie’s experience is now utilized in helping Owners and Developers oversee their construction projects.  This allows the Owner/Developer to have a seasoned professional looking out for their best interest so they can concentrate on and develop their next project.

Wylie’s qualifications include:

* Working on more than 100 multifamily, senior living, retail and commercial projects ranging from 1 million to 60 million dollars

* Tireless work ethic and application of common sense when faced with challenges on projects and general ability to adjust and “figure it out”100’s of extremely qualified contacts in the industry

* Wylie’s personal guarantee is to do the best job he possibly can for every client with no exceptions thus allowing the client to focus on their business and future projects.

...
Read more
Construction Team
Clint Evans
lead architect, nspj
...
Read more
Zak Olsen
president, ronco construction
...
Read more

oak iq  + Hickok

Current Projects

Class A

Open for Investment
Invest now

Open for Investment

EXITED

289 Unit Luxury Apartment Development
The Reserve at Copper Creek
17-19%
IRR
2-2.3X
Equity multiple
5%-6%
CASH ON CASH RETURN

The Reserve at Copper Creek

background

  • 289-unit luxury apartment development in Lenexa, Kansas.
  • Strategically located in the Falcon Ridge neighborhood, Lenexa, Johnson County, KS.
  • High-end multifamily property surrounded by upscale residential and commercial developments.

Financial Info

Open for Investment
Invest now

Under Construction

EXITED

312 unit ground-up development
Bentonville, AR
16-20%
IRR
2- 2.3X
Equity multiple
CASH ON CASH RETURN

The Reserve at Bentonville

background

  • 312 unit ground-up development
  • Bentonville, AR
  • Oak IQ created a strategic relationship with local developer and provided injection of equity to capitalize the project
  • Vertical construction scheduled to begin 2024

Financial Info

  • Projected IRR: 16-20%
  • Projected Equity Multiple: 2- 2.3X
Open for Investment
Invest now

EXITED

376 Unit Luxury Class A
Centerton/Northwest Arkansas
16%-18%
IRR
2.1x
Equity multiple
4%-6%
CASH ON CASH RETURN

Watercolors of Centerton

background

  • 376 unit Class A multifamily near Bentonville AR
  • Sourced off-market direct from developer
  • Negotiated a multi-phase closing as the phases reached CO
  • Voted “The Best Apartment Complex” in 2023 by bestnwa.com

Financial Info

  • Projected IRR: 16-18%
  • Projected Equity Multiple: 2.1x

EXITED

376 Unit Luxury Class A
Shawnee, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Pinegate West Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Lenexa, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Mansions at Canyon Creek

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Kansas City, MO
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

CORE Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

oak iq  + Hickok

Team Past Projects

EXITED

376 Unit Luxury Class A
Olathe, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

The Villas at Ridgeview Falls

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Shawnee, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Chadwick Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Kansas City, MO
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

CORE Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Olathe, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Brentwood Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Shawnee, Kan
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Cornerstone Apartments

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x

EXITED

376 Unit Luxury Class A
Overland Park, Kan.
17%-19%
IRR
2.1x
Equity multiple
Equity multiple
CASH ON CASH RETURN

Metcalf Village

background

  • 91 unit multifamily building in excellent submarket of KCMO
  • Sourced off-market
  • Seller owned for 35 years
  • Rents 50% below market, extensive rehab and Cap Ex needed to bring rents to market rates

Financial Info

  • Purchase price & soft costs: $6,200,000
  • Rehab budget: $1,500,000
  • Projected Equity Multiple: 2x