Dear Investors,
As Legacy RHM Capital marks its first anniversary, we thought this was an appropriate time to introduce The Legacy Letter, a periodic update on our firm, our investments, and the multifamily markets in which we operate.
In this first issue, we provide an update on Fund VIII, our current investment offering, a reflection on our first year, and an introduction to our new website.
Celebrating One Year
Last month marked one year since Legacy Capital Partners and RHM Capital Group came together to form Legacy RHM Capital.
We have assembled an exceptional team and established a strong foundation from which to grow. Over the last year, LRHM has acquired four multifamily properties totaling $124.3M in purchase price, backed by $39.7M in investor equity.
These acquisitions reflect the strength of our vertically integrated model; sourcing, underwriting, managing, and improving assets. They also reflect the disciplined investment strategy that will continue to guide LRHM moving forward.
We’re proud of what our team has built during our first year and we are grateful to our investors, partners and colleagues who have been part of this journey.
Fund VIII: Initial Closing Set for September
Legacy RHM Capital Fund VIII is a diversified multifamily investment fund focused on acquiring income-producing properties in select Midwest and Southeast markets. The Fund is targeting a total of $75 million in capital commitments, with the initial closing of the current offering scheduled for the end of September.
Unlike a traditional blind-pool fund, Fund VIII will close with immediate exposure to an identified seed portfolio of four cash-flowing multifamily investments. This provides investors with greater visibility into the Fund’s portfolio from the outset.
To learn more about Fund VIII, including its investment strategy, seed portfolio, and offering terms, please contact Preston Hoge or David St. Pierre.
What We Are Seeing in the Market
The multifamily investment environment continues to require patience and discipline, but we are beginning to see more attractive acquisition opportunities emerge. Higher borrowing costs, uneven operating conditions, and elevated new supply in certain markets are beginning to influence pricing and create opportunities to acquire well-located properties at more attractive valuations.
We remain focused on income-producing properties in markets with durable housing demand, favorable long-term fundamentals, and opportunities to create value through active management and operational execution. We believe the ability to evaluate opportunities selectively, and to operate the assets effectively after acquisition, is critically important in the current environment.
New Website
We are also excited to announce the launch of our new website, which provides an updated look at Legacy RHM Capital, our investment strategy, portfolio, team, and firm news. We invite you to explore the new site.
Interested in receiving The Legacy Letter?
Sign Up for The Legacy LetterPreston Hoge
SVP, Capital Formation & Investor Relations
c: 216.870.4516 · Preston.Hoge@LegacyRHMCapital.com
David St. Pierre
President & CEO, Managing Member
c: 216.849.1102 · David.StPierre@LegacyRHMCapital.com
Disclosure:
This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. Any such offer or solicitation will be made only by means of the Confidential Private Placement Memorandum and related subscription documents for Legacy RHM Capital Fund VIII LP (the “Fund”), which contain important information regarding risks, fees, and other material terms and should be read carefully in their entirety before making any investment decision.
Interests in the Fund are being offered pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933, as amended, and are available only to “accredited investors” as defined in Rule 501(a) of Regulation D. The Fund will take reasonable steps to verify each purchaser’s accredited-investor status before accepting any investment.
The interests have not been registered under the Securities Act or any state securities laws, and neither the SEC nor any state securities commission has approved or disapproved of the interests or determined that any offering materials are truthful or complete.
Any projections or other forward-looking statements included in the Fund VIII materials are based on assumptions made by the General Partner as of the date of this communication, and are not guarantees of future performance.
This material is not legal, tax, or investment advice. Prospective investors should consult their own advisors and review the full Confidential Private Placement Memorandum before making any investment decision.