Arthur J. Falcone is a co-founder and Managing Principal of Encore Capital Management and sits on the Investment Committees of its three funds. Art is also the founder and Managing Principal of Miami Worldcenter, one of the largest master-planned urban developments in the United States. Spanning more than 30 acres across nine blocks in the heart of downtown Miami, the entitled project allows for more than 15 million square feet of mixed-use development, including retail, restaurant and entertainment, hotel, residential, and office.
Mr. Falcone started his career in development more than 35 years ago, investing in fast food restaurants, hotels and health clubs in New York, and at the age of 22 became the youngest operator of a McDonald's franchise. He eventually became the owner and operator of more than 100 McDonald's, Wendy's and other family-style restaurants throughout New York, Florida and California, and was also a Days Inn Hotel franchisee. In 1988, Mr. Falcone formed the homebuilding and land development company Transeastern Properties, Inc. Transeastern began purchasing residential and mixed-use properties from distressed and bankrupt sellers and capitalizing on foreclosures against distressed housing debt brought on by the national recession in the late 1980's and early 1990's. As the economy rebounded, this asset base fueled Transeastern's growth, within 15 years Transeastern had become the largest private homebuilder in the Florida and one of the top 25 homebuilders in the United States. Since 2004 Mr. Falcone has served as Chief Executive Officer and Chairman of Falcone Group, a vertically- integrated real estate and land development organization specializing in residential, retail and apartment assets. In 2005 Art sold Transeastern to Technical Olympic USA ("TOUSA") for a total consideration of $1.6 billion. During this period, Mr. Falcone developed or acquired interests in over 20,000 multifamily apartment units. In 2006 Mr. Falcone sold his remaining apartment portfolio for $480 million.
Tony Avila is a co-founder and Managing Principal of Encore Capital Management and sits on the Investment Committees of its three funds. Mr. Avila is also founder and Chief Executive Officer of Builder Advisor Group, a boutique investment banking firm that focuses on advising real estate and development companies on financial transactions including capital raising, debt restructuring and mergers and acquisitions. Over the past 15 years, Mr. Avila has served as an advisor in over 50 homebuilding merger and acquisition transactions valued at over $6 billion in the aggregate and helped to raise approximately $10 billion in over 50 debt and equity issuances for publicly-traded and private apartment homebuilding and land development companies. In 1999, Mr. Avila represented the Irvine Company in its acquisition of Irvine Apartment Communities. His experience in the housing sector began during the previous major recession when he worked from 1987 to 1989 at the Federal Home Loan Bank of San Francisco overseeing troubled, government-controlled savings and loans. He joined Montgomery Securities in 1996, which was acquired by Banc of America Securities in 1998. While at Banc of America Securities, Mr. Avila was an advisor to the Pebble Beach Company, helping to bring the Pebble Beach Resorts back to U.S. ownership. In late 2001 through early 2002, he advised D.R. Horton for the acquisition of Schuler Homes, the second largest homebuilding acquisition in the U.S. Mr. Avila is a graduate of the University of California, Berkeley. He is a ULI member and active participant of the Community Development Council. Mr. Avila is a board member of the Positive Coaching Alliance and is a member of the Finance Advisory Board for the Sisters of the Holy Family. He has been a volunteer little league baseball coach for the past seven years. In his personal family office, Mr. Avila has owned and managed over 1,000 apartments and homes throughout the Bay Area.
Bill Powers is a co-founder and Managing Principal of Encore Capital Management and sits on the Investment Committees of its three funds. Mr. Powers resigned from PIMCO in 2010 after a 19 year career as a fixed income portfolio manager and managing director. He was a member of its investment and executive committees. He oversaw PIMCO's global portfolio operations in Tokyo, Singapore, Sydney, London, and Munich. Prior to joining PIMCO in 1991, he was with Salomon Brothers and before that, with Bear Stearns as senior managing director specializing in mortgage-backed securities. Mr. Powers leverages his expertise in the debt and capital markets and distressed debt investing to assist in identifying and assessing investment opportunities for the Fund. Mr. Powers is also responsible for relationships with institutional investors and the capital markets. A graduate of St. Albans School in Washington D.C., he served on the school's board of governors; and at Princeton, he was a two-year letterman, was chosen to the All Ivy league team and recently made the naming gift for its new football field. He generously supports and has been a board member of the L.A. Philharmonic, Jazz Aspen Snowmass, Sonoma Jazz +, The Kennedy Center for the Performing Arts, and the Painted Turtle camp for special-needs children. Mr. Powers received an AB in economics from Princeton and an MBA from the Stanford Graduate School of Business.
Based in South Florida, Mr. Motwani heads Encore's East Coast acquisitions and asset management team, which is primarily focused on expanding the firm's position in the major Florida markets.
Prior to Encore, Mr. Motwani served as the Managing Director at the Falcone Group where his primary focus was overseeing Miami Worldcenter, a large mixed-use project, located in the heart of downtown Miami, FL. Earlier, Mr. Motwani was the President of Merrimac Ventures where he oversaw the acquisition, entitlement and management of various assets. Before Merrimac Ventures, Mr. Motwani was an equity derivatives trader at Goldman Sachs in New York.
Mr. Motwani currently serves as a member of the board of the Miami Downtown Development Authority, the World Trade Center of Miami and is a Co-Chair of Operation Hope for Haiti. He is also a member of the Greater Miami Chamber of Commerce and the Beacon Council. Nationally, he is a member of both the Urban Land Institute and International Council of Shopping Centers.
Mr. Motwani earned a Bachelor’s degree in International Relations from Duke University and holds a Master of Science in Real Estate Development from Columbia University.
Based in San Francisco, Mr. Calderon heads Encore's West Coast acquisitions and asset management team which is primarily focused on expanding the firm’s position in the major California markets. Since 2009, Mr. Calderon has led Encore’s investments in the region, consisting of 23 multi-family, single-family and mixed used developments in Portland, Sacramento, the San Francisco Bay Area and Southern California, representing $400M in asset value and 3,400+ housing units.
Prior to joining Encore, Mr. Calderon ran the Homebuilding Investment Banking group of JMP Securities. During his six years at JMP Securities, Mr. Calderon served as an advisor in 20 homebuilding mergers and acquisitions and 42 debt and equity issuances for both publicly-traded and private real estate companies. Most notably, Mr. Calderon advised on the sale of Transeastern Homes' sale to Technical Olympic USA and Town and Country's sale to a joint venture between Hovnanian Enterprises and the Blackstone Group. Previously, Mr. Calderon worked as a consultant to Pacific Gas and Electric (NYSE: PCG) through its Chapter 11 bankruptcy and reorganization and as an investment banker in the Mergers and Acquisitions group at Thomas Weisel Partners.
Mr. Calderon is a member of the Urban Land Institute (ULI) and serves on ULI's Residential Neighborhood Development Council. He is also a member of the Stanford Real Estate Council (SREC).
He holds and AB in economics from Stanford University.