The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 15 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Fifield: Landlords Can Remove Affordable Housing Designations by Moving Children In
“You can also use the Ellis act. And if you have your children that are living in this building, you can take affordable housing and make it market rate housing.”
Fifield: Few women in real estate are willing to sign loans
“You don't find a lot of women. You know, in this business that are willing to sign the loan and take the risk.”
Fifield: Housing shortages and taxes drive rent hikes, not developer greed
“They don't really understand that apartments are actually constrained and the taxes and the pension of these states and the constraint of not being able to build them fast enough is causing the prices to rise. It's not the greedy developer that's causing the p…”
Fifield: Chicago conditions are getting better despite investors turning away
“I think if you had to ask me, I think this is a legacy asset, at least for me and my family, that's how in the category that it goes in. To invest in Chicago where a lot of people are turning their back on Chicago. It felt right to be part of a family organiza…”
Fifield: Real estate deals exist constantly despite claims of stalled markets
“Sometimes you talk to people like, Paul, there's no deals. There's nothing's getting done. And I'm like, that's not true. Deals cross my desk every day. It's whether you have the appetite to do them, the money to do them, the desire to do them, the risk profil…”
Fifield: Concrete high-rise residential construction is difficult in major US markets
“When you go downtown and you see concrete high rise construction on apartments, very, very difficult to do today in any sub market, New York, Chicago, even Nashville”
Fifield: Real estate will see more female developers taking loan risk
“In the future, we'll see more. You see Jeanie Gang. You see people, and she's also a really nice person, a very thoughtful person. You will see more women. You know, Jeanie's an architect, right? So she's not really signing the loan. She gets a lot of credit, …”
Fifield: 200 to 250 units is the multifamily development sweet spot
“And so the sweet spot in our business, if you were going to build something today, it's like two, 250 Units is really the sweet spot because you can find families that right here in LA that want to own those.”
Fifield: Hotels require renovation cycles every seven years
“You just, with the hotels, you just, every seven years, you just keep redoing her.”
Fifield: Syndicate paid all cash for Chicago's Ambassador Hotel
“She is almost 300 rooms in the Gold Coast of Chicago. We Paid cash for her, put a group together.”
Fifield: Ambassador Hotel was purchased out of foreclosure
“And we bought this asset out of foreclosure.”
Fifield: I have developed around $8B in real estate over my career
“Today in my whole lifetime Oh my gosh, probably like, eight billion dollars of development.”
Fifield discloses having properties surrendered to the bank
“I have had buildings go back to the bank, not because I did something wrong, but the pro formas said, you need to rent the parking, you need to rent the units at this price and the land was purchased for X and it was as of right.”
Fifield: I manage a $50M workforce housing fund in Chicago
“So I have a workforce housing fund, right? It is not, It's a unique unicorn. It's a market rate, affordable fund that it caters to baristas, teachers. It follows the same algorithm as the mid-rise and the high-rise, and basically I was able to start it in Chic…”