Tony Fineman and Warren De Haan.
Tony Fineman and Warren de Haan
Head of Originations; CEO at Acore Capital
The growth of Acore Capital’s Miami office since it opened in 2022 reflects the Manhattan-based lender’s bullishness on the South Florida region. Acore’s Miami office now has six people, and Warren de Haan expects that number to soon grow to between 15 and 20.
“I think it’s important as a national footprint of a company to have a strong presence down there and we’re going to continue to build on that,” said de Haan, who relocated to Miami from Southern California in the middle of 2022. “We are going to have a bigger origination presence, asset management presence and capital-raising presence there.”
Acore’s growing influence in South Florida has been evident with a large-scale Miami Beach luxury condo project from Witkoff Group and Monroe Capital. The lender provided an undisclosed amount of mezzanine debt when JPMorgan Chase provided a $430 million construction loan for the Witkoff-Monroe joint venture’s 20-story Shore Club Private Collection development at 1901 Collins Avenue, according to sources familiar with the transaction.
While South Florida hasn’t been immune to market headwinds driven by higher interest rates and also faces challenges from rising insurance costs, Acore is confident in growth trends in the Sunshine State as more people move there from the North. Tony Fineman, a Philadelphia native who moved to Florida three decades ago, said the migration trends the region has seen in the last four years are likely to have a lasting effect.
“I think South Florida specifically and Florida maybe a little more generally is a legitimate market to invest in long term, and it’s really here to stay,” Fineman said. “People have moved here, and they’ve realized what an amazing place it is to live and raise your families and operate both your business life and your personal life, and I don’t think that’s going to change anytime soon.”
