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.
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. They became the owner-operator of McDonald's, Wendy's, Days Inn Hotels and other family-style restaurants throughout New York, Florida and California.
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. 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.
Art Falcone and Anthony Avila started Encore Real Estate Funds in 2008-2009. 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.
Encore operates two opportunistic funds, Encore Housing Opportunity Fund I, Encore Housing Opportunity Fund II and one private REIT, called RESCORE. 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.
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