Real Estate and Development | Real Estate
Principal, chairman emeritus and co-founder
MLG Capital | Brookfield
In 1987, Mike Mooney co-founded Mooney LeSage & Associates Ltd., the private equity firm that would later become real estate investment company MLG Capital. Today, the Brookfield-based firm and its associated entities’ investments total roughly 36 million square feet of space, with exited and estimated current value exceeding $5 billion. Mooney has counted the likes of Quad/Graphics, Harley-Davidson, Gardetto’s, Champion International, Green Giant Foods, CrownZellerbach Paper and Allen Bradley among his clients. Mooney’s professional civic involvement is also extensive: He is the co-founder, past president and longtime director of NAIOP WI—The Commercial Real Estate Development Association and director-emeritus of the Waukesha County Business Alliance.
What was your first job, and what did you learn from it?
“I was 12 and got a Milwaukee Sentinel paper route in early January in ’54. The Sentinel was an early morning paper, so I had to get up at 5 a.m. I started in early January of 1954. I attached a huge wire basket to the front forks and handlebars.”
What piece of advice has had the most significant impact on your career?
“Believe in yourself, have absolute integrity, never give up, make a difference and be easy to be with.”
If you could have dinner with any two business leaders, who would you choose and why?
“Warren Buffett: I would like to explore his thinking process in making decisions, his amazing capability to stay mentally sharp in his early 90s and tap into some of the rest of his vast wisdom. Bill Gates: What plans do the two of them have to continue their mission to induce more billionaires to make massive charitable donations like they have?”
What are some of your favorite destinations/places to visit?
“New Orleans, Montreal, Sarasota, Paris, Seattle and Jackson Hole.”
What’s your hobby/passion?
“Several decades ago I began to narrow my hobbies (motorcycling, downhill skiing, water skiing, and racquetball) down to my most satisfying passion which is making a difference. I carry that out in a variety of ways: mentoring students, younger associates and enterprising young professionals; teaching (as a visiting instructor) college students; fundraising including among others, Make-A-Wish, Dozer Day (a former fundraiser for the Hamilton Education Foundation); philanthropy: Lifecycle Housing, a variety of charities, MU’s Center for Real Estate (along with my MLG partners).”
What is your favorite Wisconsin restaurant and what do you order there?
“Being a foodie that’s a tough choice. Marilyn and I favor numerous places around southeastern Wisconsin.”
What would people be surprised to learn about you (fun fact)?
“I have too many to narrow down to one. As a freshman at Iowa State in ’61 an incorrect physical cost me a chance for a football scholarship. Having little money, I needed to work. The only job opening was at a farm, so I spent 8 months shoveling pig manure for $1.25 per hour, a pleasure indeed! I’m a college dropout (two-plus years at UWM). I’m one of three student government leaders who led the effort to change UWM’s mascot and colors from a cardinal and cardinal red to a panther and black and gold 57 years ago. After dropping out of college I spent two years walking the beams as an ironworker.”
What was your first car? How long did you drive it for?
“A 1954 Ford four door. I drove it for two years until it died.”
If you could take a one-year sabbatical, what would you do?
“Get deeply involved in one of the many nonprofits I admire.”
What’s the toughest business challenge you’ve had to overcome?
“In my mid-20s I had a vision for creating a resort-second home community in Ireland, primarily aimed at Irish Americans. I secured a wealthy investor. He and I raised additional funds from investors like Cary Grant and Jack Lemon. I assembled 11 parcels into a 555 acre package that included a mile and a half of frontage on the Shannon River. All the government approvals were obtained for what we called Shannonside Village. We secured a loan from a U.S.-based REIT, started construction of a Pete Dye designed golf course and our REIT went bust in early ’73. Being overly confident, I had stupidly agreed to work for stock in the holding company. So I had borrowed money to support myself. Those lenders were kind to me because they trusted me. So I was now broke, but rather than going bankrupt, I spent 10 years paying off my borrowings. I retained my self respect and reputation. That property immediately returned to farmland. The Shannonside saga was my equivalent of a PhD in real estate development, though no diploma came with it. The lessons from that experience contributed, along with that of highly astute partners and staff to MLG’s 35 years of great success.”
What advice would you give to a young professionals?
“Set your phone down, do some qualitative testing to get a clear picture of your skills and attributes. Do internships in college.”
What is one thing you would change about Wisconsin to make it even better?
“Our political parties need to eliminate their obsession with denigrating each other. We need them to be focused on bettering our lives. They have been elected to lead not to undermine. My respect for each party has vastly diminished. Each has left the political center and gone to extremes. We need collegiality, sanity and common sense, not BS, false claims, baseless accusations and coddling of the small number of extremists. Highly respected polls, have consistently found that the silent majority has more sanity and wisdom than those on the far right and left.”
As you enter your office, what would you choose to be your walk-up or theme song and why?
“Pharrell Williams’ song ‘Happy.’ I am happy most every day at the office as are many of our teammates.”
Is there a nonprofit cause that has special meaning to you?
“Make-A-Wish and Children’s Hospital each are providing badly needed services. Each program is aimed at helping our most vulnerable individuals, our children. One focuses on the physical side the other the mental side. The latter is a response to the tragic and rapid growth of mental illness and suicide among our youth.”
What’s at the top of your bucket list?
“Having fun every day! Continuing to be able to contribute to MLG Capital’s success, also mentoring our current and future associates and protecting MLG’s outstanding corporate culture. Living a long, happy and healthy life with my wife, Marilyn, and our family. Finally, since I still have a lot to accomplish, hopefully the Lord will wait a long time before he takes me some night to a reunion with my long-lost family and friends.”
What has you most excited about the future?
“Continued medical miracles that benefit people around the world.”