LEARNING FROM MASTERS
|We've just realized that the rare broker who likes golf might think our headline is a links reference. False alarm! It means Fifield Cos'Steve Fifield and Wrightwood Capital's Bruce Cohen offered sage advice at separate events yesterday to Chicago real estate professionals from (respectively) their development and finance perspectives.|
Both men agreed: Gaining trust of decision makers is key to getting through rough spots. Here's Steve being interviewed by Crain's Tom Corfman at the Chicago Club. Steve was once named King of Leverage by Crain's for loans he was able to get in the mid-'90s for his West Loop high rise office towers. Even after coming out of bankruptcy, he convinced lenders to help him buy the Civic Opera Building—due to relationships he had built. The Wacker Drive building helped turn around his career by as he went on to develop office and apartment towers along Clinton, Canal, and Jefferson.
Stifel Nicolaus' Stephen Geyen, The Habitat Company's Stephen Galler, and Parkway Realty Services Jay Buckley nabbed front row seats. Habitat is working on leasing up the Roosevelt Collection, a fractured condo project recently converted to apartments. They're also managing more CHA units than any other Chicago apartment manager. Stifel Nicolaus is helping Illinois banks recapitalize.