Exclusive Q&A: Wilshire Construction President Talks $500M Mixed-Use Towers, Circuitous Route To Real Estate
Wilshire Construction is still in its early stages, and newly named president Matt Cheesebro says that's one of the things that led him from Moelis & Co to his new role. Bisnow caught up with Matt to talk about how he got into the industry, the firm's growth potential and some of Wilshire Construction's latest projects.
Bisnow: How have you gotten to where you are now? What strategy have you followed?
Matt Cheesebro: I followed an atypical path into real estate and the construction industry. My undergraduate degree from the University of Michigan is in mechanical engineering, which originally led me to California to work for an aerospace & defense company (Northrup Grumman). After spending time as a product development engineer, a more technical role, I progressed into the business side of the company as an operations manager. I decided to continue that focus by going to business school at UCLA Anderson. Following my MBA, I have most recently spent the past few years working at an investment bank providing strategic M&A advice to clients. One of the sectors I focused on was digital media companies in the multifamily industry. The combination of my engineering and finance experience eventually led me to my current role at Wilshire Construction.
Bisnow: Why were you interested in joining Wilshire Construction?
Matt Cheesebro: Wilshire Construction is a very young company yet has already secured several high-profile contracts from our preferred client Jamison. The opportunity to join the team in this early phase of the company’s growth cycle was very appealing to me. I spent time with our CEO, Joe Wathen, and his vision for the company really resonated with me. I am looking forward to shaping the company with Joe and the rest of our team as we continue to grow.
Bisnow: What is Wilshire Construction's strategy?
Matt Cheesebro: Our mission is to provide a level of service and value superior to anything our clients have previously experienced. Our current Jamison projects will allow us to demonstrate that superior service early on in our company’s history. Wilshire Construction’s role is to enhance the end value of our client's projects so they seek to partner with us again. We accomplish that by having a team of problem solvers with several talented individuals who bring a breadth and depth of multifamily construction experience to our projects.
Bisnow: What are some of Wilshire Construction's latest projects?
Matt Cheesebro: We have exciting current and upcoming projects in Koreatown. We recently broke ground on a new 226-unit ground-up development, 3060 Olympic (above), and are in the middle of a 209-unit ground-up development (3640 Wilshire). Coming up in the near future, we will begin work as general contractor on several other exciting ground-up and adaptive reuse developments in Koreatown and greater Los Angeles.
We are also the construction manager for the Circa project (above), a 648-unit, $500M mixed-use development located in the heart of downtown LA’s sports and entertainment district across from Staples Center.
Bisnow: How do you view your company?
Matt Cheesebro: I am excited about our growth potential. We aim to double in size fairly quickly to meet the needs of our growing project pipeline. To balance that, Joe and I will be prudent about growing the company responsibly so that we continue to provide superior service and build a track record of success.
Bisnow: What do you like to do in your personal life outside of work?
Matt Cheesebro: My wife and I just welcomed our daughter two months ago. As first-time parents, that has become my personal life outside of work, which has been a lot of fun. Aside from that, I love to do anything outside in LA—hiking, golfing, going to the beach. I am also an avid fan and follower of University of Michigan sports teams.
