Thursday, September 28th, the Baker Program in Real Estate was honored to welcome back to campus, George Conti, as a part of the Distinguished Speaker Series (DSS). George is the Vice President of Global Real Estate at Iron Mountain, the world’s premier information storage firm. George is responsible for both the project management and transactions of the international portfolio, as well as overseeing the permit and execution of real estate projects, budget adherence and real estate capital budgeting.
George was incredibly generous with his time, and he helped teach Professor Dustin Jones’ Real Estate Development Process class, which is taken by first year Baker students as well as graduate hotel, MBA, and planning students. George provided a great perspective on development, taking students through the process of developing assets, the three levels of asset management (portfolio management, asset management and property management), and stressed the importance of finding “the best use” for properties. George brought a level of energy and enthusiasm to class that impressed students and gave real world insight.
George is a proud Hotel School alumnus and like many “hotelies”, started on the operations side of the hospitality industry. He eventually advanced into a controller role of a large catering company, where he used the financial knowledge he gained at Cornell. Fidelity Investments was one of his catering clients, and his financial background, coupled with the client relationships he had grown, led him to Fidelity Real Estate Company (FREC), the corporate real estate division of Fidelity Investments. George moved from FREC in 2012 to join Iron Mountain as Vice President of Global Client Solutions and Planning, and in 2014, George was asked to stand up the firm’s first Global Real Estate Purchase Program with the goal of completing acquisitions and optimizing the existing portfolio.
George led students through a case study which detailed Iron Mountain’s transition into a Real Estate Investment Trust (REIT). The idea that Iron Mountain should convert into a REIT was initially suggested by an investor group. Converting into a REIT should mean higher dividend payments for investors and would sharpen Iron Mountain’s investment focus. George went on to describe the many challenges he faced in centralizing the real estate operation at that time.
He wrapped up his speech by providing sage advice for students to take into their careers. Some of the key takeaways were:
- Pay attention
- Be someone who other people want to work with and want to work for
- Tactfully look for points of connection and exposure
- It’s not about you – always think of the other person’s needs or motivations
One the most important lessons George said that he has learned in his career and that he wanted students to remember is:
“It’s not about the work. It’s about the relationships.”
Many of the students that had the benefit of listening to George were impressed by both his delivery and engagement. First year Baker student Mel Fish, who is interested in industrial real estate and was looking forward to George’s visit said, “George did a great job weaving real estate and supply chain into a compelling argument for why industrial real estate is so important. It really put warehousing into focus for me and how global the industry truly is.”
The students and faculty of the Baker Program in Real Estate thank George for coming back to Cornell and sharing his years of experience with the students.
