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Legacy RHM Capital

Cleveland, Ohio

Legacy RHM Capital is a vertically integrated multifamily investment platform combining 22+ years of capital-raising track record, in-house property management, and construction execution to acquire Core Plus and Value-Add apartment communities across the Midwest and Southeast.

AUM

$500mm

Years of experience

22 yrs

Roundtrips

42 roundtrips

Live deals

1

About Legacy RHM Capital

Legacy RHM Capital ("LRHM") is a vertically integrated multifamily real estate investment platform headquartered in Lyndhurst, Ohio, formed in July 2025 through the strategic merger of Legacy Capital Partners and RHM Capital Group. The combination brings together three decades of complementary experience in capital formation, property operations, and construction execution under one platform. Legacy Capital Partners was founded in 2004 by David St. Pierre and Mitchell Schneider. Over more than 22 years, the firm raised $394 million across seven multi-asset funds and 23 single-asset vehicles, investing in 78 properties across 19 states with a total cost basis of $2.24 billion, and since 2009 has focused exclusively on acquiring and repositioning existing multifamily properties — a 64-asset portfolio that has generated an average gross equity multiple of 1.98x and an average gross IRR of 20.7% on the 53 assets sold to date. RHM Capital Group was formed in 2023 by John Joyce (founder and CEO of RHM Real Estate Group), Ned Huffman (founder and retired President & CEO of Bellwether Enterprise Real Estate Capital, or "BWE"), and Jim Doyle (head of BWE's Cleveland Production Team), and has invested $36.9 million in direct multifamily acquisitions with a total cost basis of $224.6 million. Together, David, Mitchell, John, Ned, and Jim serve as LRHM's five Managing Members, unanimously approving every investment decision made on behalf of the platform. What differentiates LRHM is the depth of its operational integration: capital formation expertise built over 22+ years and $461+ million raised across the combined platform's history; property management through RHM Real Estate Group, which manages more than 7,700 units across nine states; construction and renovation execution through Noble General Contractors, RHM's wholly owned subsidiary, which has executed value-add programs on more than 10,000 units, including 5,000+ full interior renovations; and capital markets relationships cultivated through the principals' long history with BWE. This gives investors and partners a single, accountable platform across the full investment lifecycle — sourcing, closing, operating, and exiting.

LRHM's investment approach is built on direct ownership and operational control. Rather than allocating capital to outside operators, LRHM acquires multifamily assets outright and serves as controlling owner-operator on every investment, maximizing decision-making authority and capturing the full value created through operations and renovations. Within this framework, LRHM pursues two complementary strategies. Value-Add acquisitions target underperforming, typically older-vintage properties where targeted renovation and operational improvements can unlock meaningful additional value, generally held approximately 5 years. Core Plus acquisitions target stabilized, well-occupied properties, typically newer vintage, that require little to no renovation but our ability to implement our management expertise to drive expense savings allow us to generate consistent, dependable income with modest growth potential, generally held 7–10 years. Balancing these two approaches allows LRHM to build portfolios that deliver both current income and long-term appreciation across market cycles. Because LRHM's property management and construction capabilities sit in-house rather than with third parties, the firm is able to underwrite, budget, and execute both stabilized ownership and renovation programs with a level of speed and cost control that pure capital allocators typically cannot match — a structural advantage that applies across the full portfolio, from light-touch Core Plus holds to intensive Value-Add repositioning.

Investment focus

Markets

Northeast1/9Midwest3/12Southeast3/15
7 markets

Pennsylvania, Ohio, Michigan, Indiana, Kentucky, North Carolina and South Carolina.

Real estate types

Multifamily

Instrument types

Equity

Risk categories

Value-Add
Core/Stabilized

Team

Preston Hoge

Preston Hoge

Senior Vice President, Capital Formation & Investor Relations

Preston Hoge is Senior Vice President of Capital Formation and Investor Relations at Legacy RHM Capital, where he leads the firm's investor relations and capital formation strategy, overseeing fundraising execution and joint venture partnership across LRHM's investment vehicles. He was a member of the founding team of RHM Capital Group in 2023, prior to the merger with Legacy Capital Partners. Preston is also a co-founder of TurnCap, a private commercial real estate investment platform focused on originating senior secured bridge loans. At TurnCap, he led production and investor relations, successfully deploying more than $318 million in senior secured loans. Earlier in his career, he was a Senior Analyst with Bellwether Enterprise Real Estate Capital's Cleveland Production Team, helping contribute to more than $1.9 billion in loan volume in 2018– 2019. Preston holds a B.A. from Colgate University.

David St. Pierre

David St. Pierre

President & CEO

David St. Pierre is President & CEO and a Managing Member of Legacy RHM Capital, serving on both the Investment Committee and Board of Directors. He co-founded Legacy Capital Partners in 2004 and led its growth until its merger with RHM Capital Group in 2025. Under his leadership, Legacy raised $394 million across seven multi-asset funds and 23 single-asset vehicles, investing in 78 properties across 19 states with a cost basis of $2.24 billion. Prior to founding Legacy, David was Senior Vice President with KeyBank Real Estate Capital's Private Equity Group, where he originated and closed equity and mezzanine investments nationally. He holds a B.A. from Ohio Wesleyan University and an MBA from Cleveland State University.

Barb Rauhe

Barb Rauhe

Chief Financial & Operating Officer

Barb Rauhe is Chief Financial and Operating Officer of Legacy RHM Capital, where she directs financial strategy, business operations, investor relations, and performance oversight across the firm's investment platform. Barb previously served as Managing Director and CFO of Legacy Capital Partners, beginning in 2008. With more than 35 years of experience in real estate finance and operations, she has held senior leadership roles in accounting, strategic planning, and operational management throughout her career. Barb holds a B.S. in Accountancy from Miami University.

Brandon Kosek

Brandon Kosek

Senior Vice President, Investments

Brandon Kosek is Senior Vice President of Investments at Legacy RHM Capital, where he is responsible for pipeline growth, including deal sourcing, market evaluation, underwriting, and advancement of all potential transactions. He has executed more than $1.25 billion in commercial real estate transactions. Previously, Brandon was Senior Vice President and a founding member of Bellwether Enterprise Investment Sales, where he led multifamily dispositions for institutional and regional owners across the Midwest. Earlier, he worked at The NRP Group, managing acquisitions, financing, and asset management across both luxury and affordable portfolios. Brandon holds a B.A. from Cleveland State University.

Helen Qin

Helen Qin

Vice President, Investments

Helen Qin is Vice President of Investments at Legacy RHM Capital, responsible for originating investment opportunities, conducting investment analysis, and cultivating strategic partnerships. She joined Legacy Capital Partners in 2019, focusing on acquisitions and business development. Previously, she worked in real estate finance at Associated Bank and Wells Fargo and served as Senior Asset Manager at The NRP Group. Helen holds a B.B.A. in Finance from the University of Texas.

Ross Ferguson

Ross Ferguson

Vice President, Asset Management

Ross Ferguson is Vice President of Asset Management at Legacy RHM Capital. Working closely with RHM Real Estate Group's property management platform, Ross is responsible for overseeing portfolio performance and reporting. He joined Legacy Capital Partners in 2019, supporting asset management and new business development. Previously, Ross worked with Altus Group, a commercial real estate valuation and advisory firm. He holds a B.S. in Finance from Penn State University.

Andrew Iarussi

Andrew Iarussi

President, Noble General Contractors

Andrew Iarussi is President of Noble General Contractors, a wholly owned subsidiary of RHM Real Estate Group. He oversees due diligence inspections, performance tracking, value-add execution, and capital improvement planning, while coordinating closely with Legacy RHM Capital’s investment origination and asset management teams. Andrew was also part of the founding team of RHM Capital Group in 2023. Over his career, he has led more than $500 million in commercial real estate development across multifamily, retail, office, and industrial sectors. He holds both a Bachelor's and Master's degree in Architecture from Tulane University and a graduate certificate in Construction Management from NYU's Schack Institute of Real Estate.

Ned Huffman

Ned Huffman

Managing Member

Ned Huffman is a Managing Member of Legacy RHM Capital, serving on both the Investment Committee and Board of Directors. He was a co-founder of RHM Capital Group in 2023 and helped coordinate its merger with Legacy Capital Partners in 2025. He has also served as managing member for multiple investment funds, including WestonOx Fund and TurnCap Bridge Lending Fund. In 2008, Ned founded Bellwether Enterprise Real Estate Capital and served as CEO until his retirement in 2023. Under his leadership, the company grew into a national platform with more than 35 origination offices, $55 billion in mortgage servicing assets, and $15 billion in annual loan production, achieving a 35% compounded annual growth rate. BWE became a top multifamily finance firm and a leading Fannie Mae DUS and Freddie Mac Optigo lender. Ned holds a B.S. from Miami University.

Mitchell Schneider

Mitchell Schneider

Managing Member

Mitchell Schneider is a Managing Member of Legacy RHM Capital, serving on both the Investment Committee and Board of Directors. He co-founded Legacy Capital Partners in 2004 and guided its merger with RHM Capital Group in 2025. He also serves as Strategic Advisor to the Investment Committee of National Real Estate Advisors, a multibillion-dollar real estate investment firm. Mitchell is the Founder and Executive Chairman of First Interstate Properties, Ltd., which he established in 1989 as a full-service development and management company. Under his leadership, First Interstate has completed large-scale developments across multiple asset classes. Prior to founding First Interstate, Mitchell practiced real estate law at the Kahn Kleinman law firm in Cleveland, Ohio. Mitchell holds a B.A. and J.D. from Ohio State University.

John Joyce

John Joyce

Managing Member

John Joyce is a Managing Member of Legacy RHM Capital, serving on both the Investment Committee and Board of Directors, where he contributes to strategic decision-making, transaction sourcing, and oversight of property management and value add initiatives. In addition to co-founding RHM Capital Group in 2023, John is also the Founder and CEO of RHM Real Estate Group where he directs the firm's strategic vision and leads more than 300 associates across nine states, specializing in ground-up construction, value-add investments, affordable housing, and third-party management. Over his career, he has completed transactions valued at more than $1.5 billion. John is recognized for cultivating strategic relationships, shaping organizational culture, and developing communities through innovative approaches. John holds a B.A. from Kent State University and an M.A. from Xavier University.

Jim Doyle

Jim Doyle

Managing Member

Jim Doyle is a Managing Member of Legacy RHM Capital, serving on both the Investment Committee and Board of Directors, where he contributes to strategic decision-making and debt structuring for new investments. In addition to being a founding partner of RHM Capital Group in 2023, Jim also leads Bellwether Enterprise Real Estate Capital's Cleveland Production Team, one of the company's top-producing offices, and serves on its Executive Management Committee. With more than 23 years of commercial real estate experience, Jim has structured and closed over $6 billion in equity and debt transactions. He is also a co-founder of TurnCap, a private equity debt platform that has raised third-party equity and originated nearly $318 million in new loans since 2020. Jim holds a B.S. from Miami University.

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