Key takeaways
Lessons from a multi-generational developer
- Patience is a competitive advantage. Ronmor can buy land and hold it for decades, something most developers focused on quick returns cannot do.
- Build for the long term. Because Ronmor keeps what it builds, spending more on quality up front saves money over the life of the property.
- Location matters most. For assets you plan to hold, a great location helps the property weather downturns.
- Keep a margin of safety. Ronmor debates every opportunity as a team and stays conservative so it never overextends on a project.
- Treat people with respect. Harrison says consistency and respect, especially when things go wrong, are what keep a strong team together.
About the guest
HZ
Harrison Zivot
Vice President, Investment, Ronmor Developers
Harrison is Vice President, Investment at Ronmor Developers, a Calgary real estate company owned by two third-generation Alberta families. Ronmor develops and holds grocery-anchored retail, mixed-use, self storage, and multifamily properties. Before joining in 2011, Harrison co-founded a student storage and moving business in college and worked at a Calgary boutique investment bank.
Episode summary
In this episode
Ronmor Developers began with families who saved, invested in land, and bought farmland outside Calgary that would not be developed for decades. Harrison Zivot, a third-generation owner, explains how that patience still sets Ronmor apart today.
He shares his own path, from starting a student storage business in college to a short stint in investment banking before joining Ronmor in 2011. He also explains how Ronmor evaluates opportunities, from grocery-anchored retail to self storage and multifamily rentals, and why it builds for quality.
Harrison discusses capital deployment and partnerships, trends in Alberta commercial real estate, leadership lessons from a family business, and the value investing books he recommends to anyone starting a career.
Chapters
- 0:00Introduction
- 1:40Ronmor’s story
- 5:13Harrison’s career path
- 10:09Getting the best from people
- 12:35Long-term vision
- 13:38Building for quality
- 14:51How Ronmor evaluates opportunities
- 17:06Capital deployment and partnerships
- 18:58Trends in Alberta commercial real estate
- 20:45Leadership in a family business
- 23:57Advice for young professionals
- 26:52Book recommendations
- 27:37Dream property
Jump to a chapter (13)
- 0:00Introduction
- 1:40Ronmor’s story
- 5:13Harrison’s career path
- 10:09Getting the best from people
- 12:35Long-term vision
- 13:38Building for quality
- 14:51How Ronmor evaluates opportunities
- 17:06Capital deployment and partnerships
- 18:58Trends in Alberta commercial real estate
- 20:45Leadership in a family business
- 23:57Advice for young professionals
- 26:52Book recommendations
- 27:37Dream property
From the conversation
Transcript excerpts
I look at the pieces of land that my grandfather would have been a part of purchasing he wasn’t even alive to see developed. Not a lot of other companies have that ability.
Harrison ZivotPlay from 0:07
We were large enough that we could buy these and sit on them and be patient, so I think it’s really shaped our long-term vision and it’s created a ton of opportunity for us.
Harrison ZivotPlay from 0:30
If we’re keeping things longterm then location is really critical…
Harrison ZivotPlay from 1:01
Protecting a long-term asset?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
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FAQ
Questions about this episode
What does Ronmor look for in new opportunities?
A good return and, for assets it plans to keep, an excellent location. Ronmor has focused on grocery-anchored retail and has expanded into self storage and multifamily rentals.
What leadership lesson has Harrison learned in a family business?
Always treat people properly. When things go wrong, focus on solving the problem together, move on respectfully, and stay consistent.
What books does Harrison recommend?
Value investing classics, including The Intelligent Investor by Benjamin Graham, Common Stocks and Uncommon Profits by Philip Fisher, Buffettology, and books by Seth Klarman.
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