As featured on Yahoo! Finance
Innovative Real Estate company Legacy Group Capital raises $20 million in growth capital, reaffirming its leadership across core real estate pillars. The raise will accelerate Legacy’s mission to serve the housing needs of the “missing middle”.
The company has experienced nearly 50% growth YoY since 2020 by sourcing some of the best residential real estate land opportunities and providing innovative financing solutions for both the homebuilder and consumer purchase communities. Legacy focuses on resilient, high-growth markets, following demographic and economic trends including the development of new housing units within dynamic urban settings.
The $20 million will help Legacy expand into six new markets over the next 24 months and invest in core platform technologies to enable scale and to provide a world-class experience to the communities and customers Legacy serves. “The combination of our customer-first focus with modern technology is the key to our expansion as we finance, lend, and ignite real estate development in fast-moving markets,” said Legacy CEO Scott Rerucha. “We are grateful to have the opportunity to house American families and support our ecosystem of builders,” he added.
The lack of supply is a core factor in making the housing market challenging. According to a recent Realtor.com report, “If only single-family homes are considered, the rate of housing starts would need to triple to keep up with demand and close the existing 7.2 million home gap in 4 to 5 years.” Industry leader HousingWire adds, “Housing supply is the biggest hindrance to the market today.”
“This gap in the market creates a real opportunity to bring builders and buyers together, forming a virtuous loop of demand and fulfillment,” says industry veteran Ross Cowan who has joined Legacy as EVP of Growth. “We are excited to have primed the pump for exponential growth in a market that needs innovative solutions,” he added.
Legacy’s growth capital came from a strategic investor with long-standing ties to the real estate industry. As part of the company’s growth, Legacy has hired Kellie Ramsower as COO and Heather Tonn as CFO. Additional executives will be joining to realize its ambitious growth goals.
About Legacy Group Capital
Legacy Group Capital (Legacy) is an integrated real estate company focused on community-based engagement in private lending and real estate investing. Legacy empowers homebuilders, real estate investors, homeowners, and homebuyers with a flexible lending and investment platform. The Legacy platform offers unique and creative financial products that extend beyond standard guidelines. These products encompass acquisition loans, construction loans, rehab financing, and bridge loans that all reflect our common-sense approach to lending.
Currently, Legacy works with hundreds of homebuilders, brokers and mortgage loan officers while also serving thousands of investors across five real estate investment funds with access to over $500 million in equity and debt capital.
