Legacy RHM Capital Expands Lyndhurst Headquarters

Legacy RHM Capital, a full-service real estate investment platform formed by the merger of Legacy Capital Partners and RHM Capital Group, is doubling its Lyndhurst headquarters and consolidating its entire operations under one roof, driven by rapid growth in its first year.

“We’re creating a headquarters that brings our investments, operating and construction capabilities in one connected environment,” said John Joyce, one of the partners of Legacy RHM Capital and founder and chief executive of RHM Real Estate Group.

To accommodate the firm’s growth, Joyce acquired the neighboring Burntwood Tavern space, an 8,000-square-foot building, which it is remodeling with the architecture firm Dimit Architects and Noble General Contractors.

“I thought I did a really good job planning for expansion over 10 years,” Joyce told Crain’s. “In year four, we were on top of each other.”

The merger was first announced on Sept. 8, 2025, combining the two real estate firms into a one-stop shop covering capital raising, acquisitions, operations, construction, asset management, investment management and capital markets.

The five managing partners of Legacy RHM Capital are Joyce, Jim Doyle, Ned Huffman, Mitchell Schneider and David St. Pierre.

The Lyndhurst branch of Burntwood Tavern closed in March 2025. County records show that Joyce acquired the building in January for an undisclosed amount. Joyce also declined to say how much he paid, saying only that it was a “very good competitive offer.” When the building was last sold in 2015, it went for $1.2 million.

Joyce said the renovation will cost “several million dollars,” but once complete, the building will connect to the existing headquarters, built in 2022, via a breezeway.

Other updates will transform the franchise eatery into open office space with multiple meeting rooms to mirror the building it’s connecting to, said Andrew Iarussi, who leads RHM Real Estate Group subsidiary Noble General Contractors.

Some Burntwood Tavern touches will remain, such as the existing fireplace near the entrance, and the patio space will become an enclosed four-seasons room.

The current sublease for the Legacy RHM Capital office at Lakepoint Office Park, off Enterprise Parkway, ends in February, St. Pierre said. The plan is to finish the project by the end of the year, with the full company under one roof by the start of 2027.

Legacy Capital Partners, founded in 2004 by St. Pierre and Schneider, is the first step in the pipeline, with St. Pierre saying that they are currently in the market looking for acquisition opportunities.

Before the merger, Legacy Capital Partners invested in 78 assets across 19 states with a total cost basis of $2.24 billion, focusing on joint multi-family ventures with local operating partners.

The deal combined these assets with RHM Capital Group, formed in 2023 by Joyce, Huffman, Doyle, Iarussi, and Preston Hoge, and had direct acquisitions and joint ventures totaling $36.9 million invested with a cost basis of $224.6 million.

Since the merger, another four properties have been acquired. After being identified as a potential acquisition, RHM Real Estate is tapped to assess how viable those properties are, which can include underwriting, assessing value-add opportunities, and maintenance costs of the property.

Once acquired, the property gets handed off to Iarussi’s Noble General Contractors, the fastest-growing part of the operation.

Noble General Contractors emerged from RHM’s property management side, reflecting a need for construction on acquired multifamily properties, with a focus on HVAC, plumbing services, maintenance, repairs, and capital improvements.

And as Legacy RHM grows, so does the need for these services.

“It’s been the logical kind of completion of the full investment operations cycle,” said Iarussi. “It’s a lot of value-add to properties, like renovations of interiors and common area amenity upgrades, but then also stuff that you don’t notice as much, like building envelope upgrades, roofs, windows, and doors.”

If all goes well, the HQ consolidation will come right after finishing more than $200 million in real estate investments, along with a fifth property acquisition.

By this time next year, Joyce said he forecasts the merger will be worth nearly half a billion dollars in business, with 16,000 units.