Arthur Falcone

Arthur Falcone
Residence Florida
Nationality American
Occupation Founder and CEO
Employer Falcone Group
Known for Real Estate Development
Website http://falconegroup.info/

Arthur Falcone is an American real estate developer and Chief Executive Officer and Chairman of Falcone Group, a real estate and land development organization located in Boca Raton, Florida.

Early career

Arthur Falcone began his professional career by investing in fast food restaurants, hotels and health clubs in New York., along with his brother, Edward Falcone.[1] They became the owner-operator of McDonald's, Wendy's, Days Inn Hotels and other family-style restaurants throughout New York, Florida and California.[2]

In 1988, Art Falcone formed Transeastern Properties, Inc., a builder-developer for Westinghouse Communities and shortly thereafter also for Arvida Communities. The company built single family homes in the cities of Coral Springs, Florida, Parkland, Florida and Weston, Florida. By 2005, it had become the largest private homebuilder in Florida and one of the top 25 homebuilders in the United States. In 2005, the homebuilding assets and operations of Transeastern were sold to Technical Olympic USA for approximately $857 million.[3] Separately, Transeastern principals had land bank contracts with Technical Olympic USA for an additional $750 million for over 20,000 lots in the State of Florida.

Falcone later formed an ancillary broadband services company, with his brother, Robert Falcone, called Century Communications Inc. to deliver cable TV, security monitoring, internet and telephone services for the Transeastern communities. In 2007, the firm was sold to Comcast and Brighthouse Communications.

Encore Capital Management

Art Falcone and Anthony Avila started Encore Real Estate Funds in 2008-2009.[4] Avila was a principal at JMP Securities who ran the investment banking platform for real estate, since 1999 he was also the investment banker for Transeastern Properties, where he had worked on the sale of the Transeastern in 2005. Shortly thereafter, William Powers, a senior executive with PIMCO, joined Encore Capital Management.

Encore Capital Management is a diversified, multiple fund, real estate investment and development firm.[5]

Encore operates two opportunistic funds, Encore Housing Opportunity Fund I, Encore Housing Opportunity Fund II and one private REIT, called RESCORE.[6] Encore is developing over 20,000 rental apartments, homes for sale, and residential lots with sell out revenue of approximately $4 billion. Encore assets under management are approximately $2 billion with investments in Miami, Orlando, Jacksonville, Tampa, Los Angeles, San Diego, Sacramento, San Francisco, Dallas, Austin, and Phoenix.

Real Estate Developments

Miami Worldcenter Associates, led by principals Art Falcone and Nitin Motwani, serves as the master developer for the mixed-use Miami Worldcenter project, a 15 million square foot, mixed-use, master-planned urban development comprising 27 acres in Miami, Florida.[7] The project is the second largest development in the U.S., just behind the 28-acre Hudson Yards, Manhattan project in New York in the United States. The 1st Phase consists of approximately 7 million square feet for an estimated development value of $2.5 billion including a 1,800 room Marriott Convention Center, an open air 800,000 sq. foot mall and four towers of branded, condominiums.[8]

Miami Worldcenter Associates recently obtained the Miami City Commission’s approval of the zoning package and master development agreement for the project.[9] Construction of the $2+ billion project is scheduled to begin in late 2014 or early 2015.[10]

Board Memberships

Falcone has been serving on the Board of Trustees for Nova Southeastern University since 2006. Falcone and his wife, Marcy, sit on the boards of Crohn's and Colitis Foundation of America and SOS Children's Villages.[11]

Personal life

Art Falcone and his wife, Marcy, have three sons, Nicholas, Daniel and Matthew.

References

  1. ↑ Golden, Bob (July 14, 1987). "The Falcone Brothers taking a bite out of the fast food business". Boca Raton News.
  2. ↑ Gale, Kevin (September 8, 1986). "Brothers to Beef Up Wendy's Units". Sun-Sentinel.
  3. ↑ "TOUSA buys Transeastern Homes". South Florida Business Journal. August 1, 2005.
  4. ↑ "Avila, Falcone Reboot Distressed Deal Fund as Encore Housing Opportunity". May 9, 2011.
  5. ↑ Shaver, Les (May 28, 2014). "Encore Funds Creates a New REIT With IPO Plans". Multifamily Executive.
  6. ↑ Torres, Blanca (May 20, 2014). "Encore Capital Management raises $100 million for apartment deals". San Francisco Business Times.
  7. ↑ "Marriott Marquis at Miami World Center". Emporis. Retrieved December 21, 2014.
  8. ↑ McGaughan, Sean (May 17, 2013). "Marriott At Miami WorldCenter Is Actually A Thing, And Huge". Curbed.
  9. ↑ Murray, Barbra (October 16, 2014). "$2B Miami Mixed-Use Project Takes Big Step Forward". Commercial Property Executive.
  10. ↑ "Miami Worldcenter announces phase one construction timeline". The Real Deal. December 3, 2014.
  11. ↑ https://www.sosflorida.com/events/spirit-of-home/soh-honorees/103-outstanding-individual-14 retrieved December 21, 2014

External links

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