The real estate industry is frequently populated by those who quickly come and go, staying in the industry long enough to turn a fast but tidy profit or learning that it is much more nuanced than it is often made out to be. This statement may apply to many of those who have passed through the industry over the years, but not for Arthur Falcone, an experienced and successful developer who can boast over 35 years of outstanding achievement in real estate.
As the founder and managing principal of Miami Worldcenter, Art Falcone is in charge of oversight on the development of one of the most expansive and awe-inspiring projects in recent memory. The project checks in at over 15 million square feet and covers 30 acres of downtown Miami, with plans that include mixed-use real estate designed to revitalize an area that has deteriorated from a lack of new development. Mr. Falcone has already garnered approval for the project, and his vision includes both commercial and residential real estate properties that will attract a variety of businesses and new residents, thereby restoring the vitality of the downtown area.
Though the magnitude of such a project may seem daunting to some, Mr. Falcone has such vast real estate experience that this is just another challenging venture that simply represents an opportunity to create something of great value to many people. When completed, this will be something of a signature project that reinforces the notion that Mr. Falcone is one of the most prominent real estate developers of his generation. His track record of success over the years certainly underscores this statement, as there are few who are able to point to so many overwhelmingly profitable results in real estate and land development.
Mr. Art Falcone’s involvement in real estate began with a slew of shrewd investments made in the late 1980s that ultimately allowed Transeastern Properties, Inc., a company founded by Mr. Falcone in 1988, to become the foremost private homebuilder in the state of Florida while ranking among the largest nationwide. After years of success in real estate and land development, Mr. Falcone recognized that the market was at its peak in 2005 and sold the company he built from the ground up for $1.6 billion.
Flush with capital from the sale of Transeastern Properties, Inc., Mr. Falcone continued his pattern of sound investment strategies through the acquisition of vast real estate holdings while also leading the development of a telecommunications company. His success in each of these ventures was apparent immediately, as he was able to sell the bulk of his real estate holdings for $480 million and oversaw a deal in which the telecommunications company, Century Communications, was purchased by Brighthouse Networks and Comcast.
While enjoying the unrivaled success of each of these ventures, Arthur Falcone also founded another venture of his own in the Falcone Group, an organization for which he has served as chairman and CEO since its founding in 2004. The organization operates in an industry with which Mr. Falcone has a great deal of expertise: real estate and land development.
In addition to the Falcone Group and Miami Worldcenter Associates, Art Falcone has also co-founded Encore Capital Management, serving as the managing principal and as a member of the investment committee. Through the leadership of Mr. Falcone and the other principals, Encore Capital Management has developed the kind of reputation that has enabled the firm to have over $1 billion under its management. The organization operates as a diversified and multiple-fund firm focusing on both real estate and land development.
Though Mr. Falcone’s experience in real estate can be traced back to the late 1980s, he began his professional career in an entirely different industry when he became the youngest owner-operator of a McDonald’s franchise when he was 22 years old. He was able to leverage his immediate success in this position into the ownership of over 100 restaurants in a number of different states, and he even ventured into the hospitality industry while serving as the owner of a Days Inn. While he enjoyed a great deal of immediate success in these industries, the pull of real estate proved to be too great for Mr. Falcone, and his many years in the industry is a reflection of his passion for his work in real estate.
Now involved in a variety of ambitious projects through both Miami Worldcenter Associates and Encore Capital Management, Mr. Falcone is poised to bolster his long track record of outstanding achievement in real estate development. He has used his business acumen for a number of worthy causes as well, making charitable donations on a frequent basis and also serving on the board of both the Crohn’s and Colitis National Foundation and the SOS Children’s Village. His continued success in every endeavor he has pursued over his lengthy professional career is a testament to Mr. Falcone’s work ethic and business savvy, and it is these qualities that have proven incredibly beneficial to a great deal of people over the years.