the declarations. podcast with Host Todd S. Rich Michael Spies, Founder of Fuse Strategies, and Host Todd S. Rich, Co-Founder & Partner of Declaration Partners
Oct 15, 2025
Michael Spies, Founder of Fuse Strategies and venture partner at Navitas Capital, shares insights from his 30-year journey in real estate and urban development. He discusses the balance between private and public interests in development, lessons learned from Berlin's real estate cycles, and the rising importance of AI in managing assets. Michael emphasizes the shift towards mixed-use spaces and flexible building uses, advocating for community-focused design. His reflections on leadership and human capital showcase the critical role of curiosity and creativity in the industry.
AI Snips
Chapters
Books
Transcript
Episode notes
Design For Public Interest
- Approach major real estate projects by proactively solving for the public interest rather than only seeking approvals.
- Align private value creation with public benefit to build lasting, defensible developments.
Berlin's Post‑Wall Boom And Bust
- After the Berlin Wall fell the market surged, rents tripled in 18 months and land prices soared.
- Oversupply followed and the market remained depressed for nearly 20 years, showing a violent real estate cycle.
Be Nervous When You Start Projects
- Be wary of starting projects at cyclical peaks; if you're not nervous, you may be too late.
- Start projects early after downturns to capture early absorption and outsized upside.
