Background and career
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. He is known for commercial, residential and mixed-use projects and for his philanthropy to aspiring entrepreneurs.
Arthur Falcone was born and raised in Elmont, New York, to first-generation Italian immigrants. His father was a police officer. Falcone attended Nassau Community College, leaving to join McDonald's as a management trainee.
Arthur Falcone invested in fast food restaurants, hotels and health clubs in New York, along with his brother, Edward Falcone. At age 22, Arthur Falcone became McDonald's youngest franchisee. He and his brother 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 and Philip Cucci Jr. 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 50 homebuilders in the United States. In 2005, the homebuilding assets and operations of Transeastern were sold to Technical Olympic USA (TOUSA) for approximately $857 million. In a related transaction, TOUSA paid $750 million for land banks that Transeastern owned.
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 funds, Encore Housing Opportunity Fund I and 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.
The company purchased the bankrupt Plantation Fashion Mall in Plantation for $37.7 million in 2015. It re-branded the 32-acre project as Plantation Walk in 2017, which will be a mixed-use development comprising office space, luxury apartment rentals, retail, restaurants and hotels. The first phase officially opened in June 2019 with a 172,959-square-foot Class-A office building partially leased by Aetna. That month, the company secured a $121.3 million loan to build 134,326 square feet of retail and 404 apartments. In November 2019, the developers proposed a new site plan for the second phase that included an office building, senior living facility, supermarket and hotel.
Falcone Group opened a 184-room hotel on the 320-acre multi-use property in January 2019. A water park named Island H2O Live! followed in June with eight slides, a lazy river and adults-only area. The development includes Sunset Walk at Margaritaville Resort Orlando, a retail development of over 200,000 square feet, and Margaritaville Cottages Orlando, which consists of timeshare-vacation homes whose sales opened in December 2018. Nearby, Falcone Group is developing Encore Club at Reunion, which consists of vacation rental homes and apartments.
Sources
Net-worth figure: Celebrity Net Worth (October 2026), in USD. Biography and career facts: the person's Wikipedia article and linked reporting. Snapshot date for all StarWorth figures: 28 October 2026.
