How a Richmond native turned early experience into real estate strategy
Ben Roper didn’t start in a boardroom. He started in a leasing office. Today, he’s a key figure in the real estate investment trust (REIT) space, helping grow portfolios through strategic 721 exchanges, also known as UPREITs.
“I didn’t skip steps,” Roper says. “I’ve done the hard, detailed work on the ground, and I use that now in conversations with developers who want to know I understand what they’re dealing with.”
At just under 30, Roper is already shaping conversations in a complex corner of real estate. His story isn’t about shortcuts. It’s about relationships, long-game thinking, and knowing how to explain value in a way that earns trust.
Early Life in Richmond: A Family Business Influence
Roper grew up in Richmond, Virginia. His family roots run deep in the area. His grandfather was once mayor of Petersburg and ran Roper Lumber, a successful lumber business. His father is a well-known apartment developer in Richmond.
“I saw my dad doing deals, solving problems, working with people. That stuck with me,” says Roper. “It made real estate feel familiar. But I wanted to earn it on my own.”
His path started early. He attended St. Christopher’s School through 8th grade, then Christchurch School for high school. After that, he went on to earn a degree in politics. During college, he completed internships with the Senate and The Heritage Foundation, even becoming a published contributor to The Daily Signal.
But instead of pursuing politics, he returned to his roots: real estate.
From Property Management to Innovation Leader
Roper’s first job in the industry was leasing apartments for RangeWater Real Estate (then Matrix Residential) at the American Tobacco Center in Richmond. He moved quickly.
“We kept occupancies up during COVID,” he recalls. “It was a tough time. But I leaned into it and earned trust. That’s when I got promoted.”
He became director of special projects for the Richmond market, then moved to Atlanta to lead the company’s innovation department. That role let him think beyond operations and start applying strategy.
“I was helping implement tech, new workflows, and ways to keep us ahead,” he says. “But I also started to see how fast a company could grow—and what happens when the wrong people are in the wrong seats.”
The rapid expansion at RangeWater, while exciting, also brought internal frustration. Roper began thinking about his next move.
Exploring the 721 Exchange at Bonaventure
That move was to Bonaventure, where Roper stepped into business development. His focus: 721 exchange deals, which allow developers to contribute their properties to a REIT in exchange for operating partnership units—essentially a tax-deferred way to move from real assets to shares in a larger fund.
“These deals are personal,” Roper explains. “You’re not just running numbers. You’re talking legacy, liquidity, and timing with people who’ve spent years building something.”
At Bonaventure, he built relationships with property owners, developers, and family offices. He also worked on other offerings like preferred equity and mezzanine debt. But his core strength was connecting with owners and explaining why the UPREIT model might work for them.
Leading Strategic Growth Efforts
Today, Roper focuses full-time on leading growth efforts for a major REIT. His role is both strategic and personal, he works directly with developers to structure 721 exchanges that contribute assets to the fund.
“It’s not just about closing deals,” he says. “It’s about solving puzzles. Every property and every owner is different.”
The complexity of the job is what keeps him engaged. Each opportunity requires a different set of tools, deep financial knowledge, strong relationships, and a creative approach to deal-making. “No two transactions are ever the same,” Roper explains. “That’s what makes this work so challenging and rewarding. You’re constantly adjusting, learning, and looking for the right fit.”
While the market can be unpredictable, Roper’s approach is grounded in consistency and preparation. He believes success comes from focusing on what’s in front of him, understanding the developer’s needs, structuring a compelling offer, and guiding each deal step by step.
“There’s always going to be noise and pressure in this space,” he says. “But my job is to stay focused on the process. Keep the conversation going. Move things forward.”
He’s also learned the value of staying steady, even when things don’t unfold as expected. “Some weeks feel like a sprint, and others feel like a standstill,” Roper says. “But the key is not to overreact either way. Just keep showing up with solutions.”
That mindset—one rooted in problem-solving, patience, and long-term thinking—is what sets him apart. “I believe in what we’re offering,” he says. “And I believe in earning every opportunity by doing the work.”
Key Takeaways from Ben Roper’s Career Path
- Start at the ground level. Roper’s early work in leasing gave him insight that helps him today with developers and investors.
- Focus on long-term relationships. Success in 721 exchanges isn’t about pressure—it’s about trust and timing.
- Adapt to change. His move from operations to innovation taught him how to adjust in growing companies.
- Family legacy matters. Learning from his father and grandfather helped shape his values and work ethic.
- Don’t underestimate perception. A single article can shift millions in equity. Reputational awareness is critical.
Ben Roper’s story proves that influence in real estate doesn’t come from flash—it comes from understanding, persistence, and being willing to do the hard things first.
Read more:
Ben Roper’s Rise in REITs: From Leasing to Leading Deals