The Team

The Team

Senior investment professionals specialize in real estate deal structuring, acquisition, design, development and asset management. The team is supported by knowledgeable in-house compliance, investor relations, finance and tax professionals.


Senior investment professionals specialize in real estate deal structuring, acquisition, design, development, and asset management. The team is supported by knowledgeable in-house compliance, investor relations, finance, and tax professionals.



Co-founder, Managing Principal,
Investment Committee Member

Art Falcone

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. Art 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, Art 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 Florida and one of the top 25 homebuilders in the United States. Since 2004, Art 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, Art developed or acquired interests in over 20,000 multifamily apartment units. In 2006, Art sold his remaining apartment portfolio for $480 million.

Co-founder, Managing Principal,
Investment Committee Member

Tony Avila

Tony Avila is a co-founder and a Managing Principal for Encore Capital Management. Over the past 25 years, Tony has served as an advisor in over 85 homebuilding merger and acquisition transactions valued at over $12 billion and helped to raise approximately $10 billion in over 75 debt and equity issuances for publicly traded and private homebuilding and land development companies.

Tony founded Builder Advisor Group in 2008 and has been working as a homebuilder investment banker since 1996. Tony has served as an investment banker in more homebuilding transactions than any other advisor. Most recently Tony closed the sale of several top 100 builders including Transeastern Homes, Town and Country Homes, American West, Wade Jurney, Dan Ryan Builders, and Arbor Homes. Tony has also raised capital for dozens of builders and developers, including Johnson Development, Metro Development, LGI Homes, Dream Finders Homes, Beazer Homes, and Century Communities.

Tony’s experience in the housing sector began during the S&L crisis when he worked at the Federal Home Loan Bank of San Francisco overseeing troubled, government-controlled savings and loans. He joined Montgomery Securities in 1996, which became Banc of America Securities in 1998. While at Bank of America Securities, Tony was an advisor to the Pebble Beach Company, helping to bring the Pebble Beach Resorts back to U.S. ownership. In 1999, Tony represented The Irvine Company in its acquisition of Irvine Apartment Communities. In late 2001/early 2002, he advised D.R. Horton for the acquisition of Schuler Homes, the second largest homebuilding acquisition in the U.S.

In 2002, Tony joined JMP Securities where he founded and lead the Homebuilding Investment Banking team for six years. Some notable transactions include advising Transeastern Properties on its sale to TOUSA in August 2005, advising Town and Country Homes on its sale to The Blackstone Group and K. Hovnanian Homes and advising on the formation of a $250 million joint venture between Metro Development and D.E. Shaw to acquire distressed land. In 2008, he advised MatlinPatterson Global Advisors LLC, a global distressed private equity firm, on its capital investment in Standard Pacific Homes. Tony worked on the restructuring of $75 million of Beazer Homes debt and assisted in establishing a joint venture between GTIS Partners and LGI Homes.

Tony is a graduate of U.C. Berkeley. He is a ULI member and active participant of the Community Development Council. Tony is a board member of the Positive Coaching Alliance and a member of the Finance Advisory Board for the Sisters of the Holy Family. Tony is an avid Ironman triathlete and has participated twice in the Ironman World Championship in Kona, Hawaii. Tony has also run the Boston, Big Sur, San Francisco, California International, Chicago, and New York Marathons.



Art Falcone

Arthur J. Falcone is a co-founder and Managing Principal of Encore Capital Management. He leads the investments and guides the strategic vision across the entire firm with a specific focus on Florida projects. Art is also the founder and Managing Principal of Miami Worldcenter, one of the largest master-planned mixed-use urban projects currently under development in the United States.

In 1986, he founded Transeastern Properties, which grew to one of the largest privately held builders in Florida. In August 2005, Transeastern was acquired by TOUSA for $1.6 billion. Mr. Falcone has developed or acquired and sold over 30,000 multifamily rental units across Florida, Arizona, and Nevada. Art has been named to the H.Wayne Huizenga School of Business Entrepreneurship Hall of Fame at Nova Southeastern University (2006) and was honored with the Horatio Alger Award for Distinguished Americans (2020).

Art spends his time outside of Encore with his expanding and extended family while serving on several boards supporting various youth-focused educational and philanthropic charities including:

  • Junior Achievement Biz Town, South Florida. Financial support for programs that empower youth with the knowledge, ability, and confidence to navigate their future drives economies and leads communities.
  • SOS Children’s Villages, Coconut Creek, Florida. SOS provides care for abused children suffering from various forms of neglect in South Florida. Falcone has supported the development of over twenty residences for children in need.
  • Crohn’s and Colitis Foundation, New York, NY. CFFA Scientific Board Member
  • Nova Southeastern University, Davie, FL. Board of Trustees
  • Horatio Alger Association, Alexandria, VA- Elected Member


Tony Avila

Tony Avila is a co-founder and Managing Principal of Encore Capital Management. He leads the investments and guides the strategic vision across the entire firm with a specific focus on California projects. Mr. Avila has overseen the acquisition and realization of twenty-five residential real estate projects on the West Coast.

Mr. Avila is also the founder and Chief Executive Officer of Builder Advisor Group, a boutique investment banking firm that advises residential real estate and land development companies on financial transactions including capital raising, debt restructuring, and mergers and acquisitions. Through his family office, Mr. Avila has personally invested in numerous real estate projects in California since 1981. Mr. Avila is a member of the Urban Land Institute and sits on the Community Development Council. He graduated from the University of California at Berkeley in 1987 with a Bachelor of Arts in Political Economy of Industrial Societies and a Minor in Business Administration.

Tony spends his time outside of Encore with his family, participating in Ironman Triathlons and supporting several educational, social impact, and children sports development charities including:

  • Moreau Catholic High School, Hayward, CA. Scholarship and Financial assistance to over 70+ need-based students for high school and college tuition expenses.
  • Positive Coaching Alliance, San Francisco, CA- A coach and participant in PCA which provides research-based training and resources for coaches, parents, athletes, and leaders to ensure a positive youth development experience for ALL kids.
  • Finance Advisory Board member, Sisters of the Holy Family, San Francisco, CA (since 1999)

Chief Operating Officer & Director of Fund Management

Oscar Vasquez

Oscar Vasquez oversees all fund and firm operations and investor relations. Prior to Encore, Oscar led the Management Consulting organization in California for EMC, one of the world’s largest technology companies. In this role, he was responsible for operational, profit/loss, and business development for the unit, which presided over 30% year-on-year growth of revenue. Earlier in his career, he also worked for Accenture/Andersen Consulting and Deloitte Touche. Oscar earned his BS in Computer Engineering from U.C. San Diego

Chief Compliance Officer & Chief Financial Officer

John Chiste, CPA

John oversees all financial aspects of the fund, as well as maintaining compliance procedures. Prior to Encore, John was the Chief Financial Officer for the Falcone Group and its affiliates. For 10 years prior to joining the Falcone Group, John was the Treasurer and Chief Financial Officer of Bluegreen Corporation, a publicly held timeshare and residential land developer. In addition, John held various leadership positions at Bluegreen Corporation, Comscript, Computer Integration Corporation, and Ernst and Young LLP. Chiste holds a BBA in Accounting and is a Certified Public Accountant.



Zach serves as an analyst based in Northern California. His responsibilities include analysis of market trends and financial models, as well as on-site assistance. Prior to joining Encore, Zach interned for general contractor, Build Group, and property manager, Belong. Zach earned a BA in Economics with a minor in Mathematics from Bates College.

Michael serves as Director of Financial Reporting in Central Florida. Prior to Encore, Michael worked at Ernst and Young for seven years, most recently as an Assurance Manager spending time in both the Financial Services Office and Real Estate Practice. Michael holds a Master’s in Accounting from the University of Alabama and a Bachelor’s in Accounting and Finance from Florida State University. He is also a Certified Public Accountant.

Peter is focused on operations and asset management in Central Florida. Prior to Encore, Peter was President of Four Seasons Group, Inc. a regional land development, homebuilding, hospitality, and real estate brokerage organization.  Peter is a member of the Urban Land Institute and the National Association of Homebuilders. Peter earned a BA in Economics from the University of Michigan, as well as a Master of Real Estate Development from the University of Southern California. Peter is also an AMDP alumnus from the Harvard Graduate School of Design.

Joe leads Encore’s multifamily acquisition and asset management team, which is primarily focused on expanding the firm’s position in the major California, Florida, and Texas markets. Prior to Encore, Joe was Managing Principal of American Group Advisors, LLC, providing real estate workout, turnaround, and restructuring services to public and privately held financial institutions through court-appointed receiverships and REO asset management. Prior to forming AGA, Joe founded DiCristina and Associates, Inc, providing advisory services to publicly traded and privately held companies on the creation and execution of real estate investment strategies. In addition, Joe held various leadership roles at Atlantis Development LLC, Cornerstone Group and Archstone. Joe holds a BS from Arizona State University and a master’s degree in City Planning from the University of Pennsylvania, where he also attended the Wharton School

Marcy Esformes oversees third-party property management teams and provides direction on all property leasing and operations. Prior to joining Encore, Marcy served as Regional Vice President for ZRS Management for 7 years. Before ZRS, Marcy spent 10 years with The Related Group as Regional Manager where she oversaw a portfolio of 14 apartment communities in South Florida, created Policy and Procedures, directed software implementation and help desk activities and lead the company’s training and employee development initiative. Marcy studied Microbiology at North Carolina State University and holds a Certified Property Manager (CPM) certification from the Institute of Real Estate Management.

James is responsible for the execution of daily business affairs for Encore’s multifamily development portfolio, including contracts, budgets, and project management/oversight. Prior to Encore, James served as Vice President of Acquisitions and Development for Eastview Development, where he was involved in acquisitions, investment due diligence process, asset financial reporting and structuring equity and debt investments. Prior to that, James worked for Jack Nicklaus Companies and managed the acquisition, asset management and business development. James holds a BSM in Finance and Marketing from Tulane University

Scott is responsible for strategic business development initiatives as well as investor and consultant relationships. Prior to joining Encore, Scott led the business development efforts at WF Investments, an emerging manager focused on student housing investments. He began his real estate career working for the AG Spanos Companies, underwriting multifamily investments and facilitating the internal investment sales program. His private equity real estate experience began while working with TA Associates Realty where he became a Partner focused on multifamily acquisitions and directed all the capital raising activities for various commingled funds and separate accounts. He continued his capital raising and business building career working with the AUDAX Group and Colony Capital. Scott received his BA in English from Rollins College and his MBA from Boston University.

Zach is responsible for underwriting, financial modeling, and monitoring Encore’s real estate investments. Prior to joining Encore, Zach graduated summa cum laude with a degree in Finance from California State University, Chico.
Glen is responsible for asset management in Northern and Southern California. Glen Martin has held a variety of executive leadership roles for multiple startup companies and Fortune 100 corporations where his expertise in residential, commercial, and industrial construction helped orchestrate the successful completion of multi-million-dollar projects around the world. Glen is a licensed California Building and Engineering Contractor (both A and B) and a licensed California Real Estate Broker. He has been a longtime board member of HomeAid Northern California, a nonprofit that builds shelter for the homeless, battered women and children, and veterans. He is also the chair of the board of the Building Standards Institute. He received his B.S. in Business Administration from California State University, Chico.
Trang oversees the management, planning and engineering of Land Entitlement at Encore. She has over twenty-five years of experience in civil engineering, land use planning and project management, including five years with the County of Sacramento in various capacities, including land surveying, construction monitoring, NPDES implementation, and the review and approval of land development projects. Prior to Encore, Trang spent numerous years working for Land Developers/Home Builders as Community Development Manager. She is a licensed Professional Engineer (PE), Construction General Permit Qualified SWPPP Practitioner/Developer (QSP-D), and earned a BS in Civil Engineering from California State University, Sacramento.

John Schnabel serves as a project and fund accountant. Prior to Encore, John worked for 17 years at Forest City Ratner Companies (“FCRC”) which is a large real estate developer, owner/operator, and New York subsidiary of a publicly held Company; Forest City Enterprises. As Director of Financial Reporting, John was responsible for all financial reporting of the development projects, including GAAP research for complex transactions, internal control documentation in accordance with Sarbanes Oxley act, and overseeing tax return preparations. Prior to FCRC, John worked in Public Accounting for approximately 5 years, where he earned his CPA. John is a graduate of the College of Staten Island which is part of the City University of New York.

Andrea serves as the Vice President of Investor Relations. In this role, she is responsible for managing communication between Encore and its investors- committed to delivering excellent service and attention to detail. Prior to joining Encore, Andrea was a Senior Operations Client Service Associate at a Wealth Management firm where she helped manage $400M in assets of high-net-worth clients. Andrea earned a BS in Finance from San Jose State University and is a Certified Digital Marketing Professional.

Based in Fair Oaks California, Dan is a licensed contractor and design-builder with over thirty years of construction experience. At Encore, Dan is responsible for bidding, budgeting, securing trade partners, direct supervision, land development, with a primary focus of placement of infrastructure. Prior to Encore, he held a similar position at D.R. Horton and worked with many other top 10 builders, doing both land development and vertical construction. Additionally, he is a leader in the industry successfully establishing teams that have won national, international, and local awards in sustainable building. Dan is a licensed General B Contractor, certified renovator, and energy start specialist. He graduated from Casa Roble High School and attended American River College.

Karla joined Encore in 2015 and serves as director of accounting operations in the SF Bay Area. She oversees HR, employee benefits, fund accounting, financial reporting, and managing day-to-day administration and operations. Prior to Encore, Karla worked in the Construction and Development industry for over 15 years serving as a senior accountant, accounting manager, and assistant controller for various companies. Karla attended San Francisco State University and holds a Certificate of Achievement in Business Accounting from Los Medanos College.

Jared Bouskila serves as a project controller and fund accountant. Prior to Encore, Jared Bouskila worked with Lennar Homes for five years as Controller and Vice President. He oversaw the completion of monthly financial statements, reviewed land purchase agreements, and evaluated performance on potential land purchases. Prior to joining Lennar, Jared Bouskila was an audit senior with PricewaterhouseCoopers with a focus on homebuilding. Jared Bouskila is a graduate from the University of Florida and is a Certified Public Accountant.

Steven is responsible for the execution of Encore’s multifamily development portfolio, including acquisition, loan closing, contracts, budget preparation, project management, and disposition. Before joining Encore’s development team, Steven spent 4 years with the accounting team where he was a Senior Accountant, overseeing the multifamily portfolio. Steven received his bachelor’s degree in business from Florida Atlantic University.

David is responsible for asset management and operations in Southern California. Prior to Encore, David was a Project Manager for KB Home where he oversaw the development and management of over 900 single-family lots and $100mm in assets for projects in Southern California. Before KB Home, David was a Planner for the City of El Cajon. David earned a BS in Geography with an emphasis in Geographic Information Systems from Cal Poly Pomona and a Masters of City Planning from San Diego State University.

Dave is responsible for sourcing, underwriting, and negotiating land transactions in Northern California. Prior to Encore, he held similar positions at K. Hovnanian Homes and Shea Homes. In addition, Dave was previously an independent consultant, providing land acquisition analysis for many of the public and regional home builders operating in the Bay Area. He has over 23 years of experience acquiring and entitling California properties. Dave received an MBA from Stanford Graduate School of Business, an MS in Systems Engineering from the University of Arizona, and a BA in Psychology also from the University of Arizona. He also holds a Chartered Financial Analyst certificate and a CA Real Estate License.

Julian Nan is responsible for acquisitions and asset management in Southern California. Prior to Encore, Julian was the Director of Land Acquisition for Shea Homes, a national residential home builder and developer. He was responsible for sourcing, underwriting, and negotiating land transactions in Southern California, as well as entitling or repurposing land for residential use. Julian received his BS in Business Administration with a concentration in Finance from Cal Poly Pomona and a Master of Real Estate Development from the University of Southern California.

Mishal is responsible for land acquisitions and asset management based in Southern California. Prior to Encore, Mishal was the sole Loan Originator for Bolour Associates, where he worked on $160M of closed high yield loans, primarily secured by unentitled land sites. Mishal received his BS in Business Administration with a concentration in Finance and Real Estate from Indiana University and a Master of Real Estate Development from the University of Southern California.

Neel leads our land acquisition effort in Florida. His focus is sourcing land opportunities in major Florida markets including Orlando, Tampa, and Jacksonville. Neel’s expertise includes acquisition roles with several national homebuilders including Beazer, KB Home, and David Weekley. Prior to joining Encore, Mr. Shivcharran owned a boutique real estate development firm focusing on sourcing and entitling land projects for both the production home builder and multifamily sectors. Altogether, his projects have generated over 10,000 entitled lots in the state of Florida. Neel received his MSRE and BS in Business from the University of Central Florida.

Ryan Williams serves as a financial director focused on development and acquisition opportunities based in Central Florida. Prior to joining Encore, Ryan received his bachelor’s degree from Washington and Lee University.