REIT CEOs Discuss Value of Mentorship

A number of REIT CEOs discussed the importance of mentorship, both on a personal and professional level, during a series of video interviews held at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Ric Campo, chairman and CEO of multifamily REIT Camden Property Trust (NYSE: CPT), highlighted Camden’s active mentorship program, which currently involves hundreds of staff members. Campo noted that he has had several mentors during his career. One particularly important one, Campo said,  was a Scottish certified accountant who taught him that success in business wasn’t simply about making money, but rather about how many jobs you create.

Once you understand that business is about more than the bottom line, Campo noted , then “ultimately the value proposition will follow.”

Amy Tait, chairman and CEO of private REIT Broadstone Real Estate, stressed that having a good mentor is a key building block in a successful career.

“If you can go into work every day and work with somebody who is smart, honest, disciplined, hard-working and ethical, that’s really going to help you grow - not only as a professional, but as a person too,” she said.

Don Wood, president and CEO of Federal Realty Investment Trust (NYSE: FRT), urged newcomers to the real estate business to look for experience in a variety of aspects of the industry.  “The bottom line is, you’ve got to make yourself valuable” and get a feel for the business, he said.