Podcast: Play in new window | Download (Duration: 11:12 — 7.7MB) | Embed
Subscribe: Apple Podcasts | Spotify | iHeartRadio | Email | TuneIn | RSS | More
Mitchell Schneider, the Co-Founder & CEO of Legacy Capital Partners, a real estate equity firm located in Cleveland, OH. Legacy focuses on multi-family real estate investment opportunities in cities around the country joins Enterprise Radio.
Listen to host Eric Dye & guest Mitchell Schneider discuss the following:
- As an entrepreneur, what companies have you founded?
- Did you come from a real estate family background?
- How did you get into the private equity business?
- How about Legacy Capital Partners — what were the challenges in creating this company?
- Tell us about Legacy’s investment approach – and how sometimes bigger isn’t always better?
Duration: 11:12
Mitchell Schneider is the President of First Interstate Properties, Ltd., a Lyndhurst, Ohio based real estate development and management company. Mr. Schneider, an attorney by training, previously practiced real estate development law at a downtown Cleveland law firm. In 1989, he created First Interstate Properties, Ltd. with the purpose of engaging in the development of large scale open-air, multi-tenant retail facilities. During the course of its 24 years, First Interstate has developed ten shopping centers, including Legacy Village in Lyndhurst, Ohio, Cleveland’s premier lifestyle center. Overall, First Interstate manages a portfolio of retail and industrial property totaling over Four Million Square Feet.
First Interstate is also the developer of the first major power center project in the City of Cleveland, Steelyard Commons, a nearly one million square foot shopping center that opened in the Spring of 2007. Steelyard Commons has transformed 125 acres of industrial land (a portion of a former steel yard) into the largest open-air center ever to be built in Cuyahoga County, featuring more than 40 new stores and restaurants in addition to recreational amenities that evoke the industrial history of the land. It has generated significant economic benefits and supported the creation of more than 1,200 jobs in Cleveland.
Mitchell Schneider is also the Co-Founder and CEO of Legacy Capital Partners, a company that is focused on providing real estate developers with a reliable and efficient source of flexible and patient equity capital. Legacy Capital Partners’ investment strategy is focused on value creation opportunities with a concentration on retail projects and for-rent multi-family projects. To date, Legacy Capital Partners Fund I LP has raised more than 100 Million Dollars since its inception in 2004 and has invested in 27 projects with a total project cost exceeding 700 Million Dollars.
In 2010, Mitchell became one of four Investment Committee members for National Real Estate Advisors, a real estate investment management company responsible for all capital decisions relating to an investment portfolio of nearly $2 Billion of equity capital.
On a personal level, Mitchell is involved in a variety of local and national community organizations. He has been a member of the International Council of Shopping Centers (ICSC) since 1988 and has served in its Government Affairs Committee. He currently serves as a member of the Board of Trustees of the Jewish Federation of Cleveland and is the Chairperson of its Allocations Committee – responsible for annually allocating more than 30 Million Dollars locally, nationally, and internationally.
Additionally, Mitchell is a Trustee of the Western Reserve Land Conservancy, one of the premiere land conservation organizations in the country, where he serves as the Chairman of its Transaction Review Committee. Mitchell recently served a four year term as the Chairman of the Board of Governors of a local higher education institution. Due to his extensive philanthropic work within the community, he was honored with Cleveland ORT’s Man of the Year Award in 2004.
Mitchell Schneider lives in Solon with his wife, Kyla, and two children.
Links: www.LCP1.com
