Keeping busy Currently, Royop has “all kinds of stuff going on,” Jacob says. As mentioned earlier, they have a couple diverse projects under active construction, including 182 residential units. In the pipeline, meanwhile, they have roughly $1 billion worth of real estate in development, including 1,700 residential units. Jacob says that in the seven days preceding his interview, he sent LOIs for another $250 million. “We’re out there chasing it,” he understates. “We’ve got a lot happening.” “There’s a lot coming down the pipe, and a lot under construction too,” he says. “We keep our team hopping busy.” Moving forward, Royop intends to stay busy. According to Jacob, their goal is to double in size every two years – so in two years, they aim to have $2 billion in the pipeline. They will achieve that growth by continuing to diversify their asset classes, continuing to acquire existing assets – with rising interest rates and inflation, they foresee some interesting buying opportunities – and lastly, by continuing to grow on the “owner-builder front.” “We’re going to take on more and more of our construction directly,” Jacob explains. “We also launched Royop Project Services this year. That’s an additional construction division that can provide third-party that can provide third-party services. We already have a few customers right now that we’re working with. We plan to aggressively grow that business as well.” OCTOBER 2022
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