Tony Fineman

Long before Acore Capital opened a Miami office in 2022, Tony Fineman put down roots in the  South Florida region.

Fineman, who was raised in Philadelphia, has lived off and on in the Sunshine State for the past three decades, giving him a front-row seat for the Miami region’s sharp growth in recent years.

“We’ve always had a significant focus down here, and we’ve always understood the potential for growth and were seeing it happening on the ground,” Fineman said. “South Florida has been on a tremendous trajectory upward, and it has only accelerated with what we’ve experienced in the industry and the economy and the general U.S. population over the last two to three years.”

South Florida’s momentum with increased migration trends was evident in Acore’s 2022 deal activity, which included an $87 million construction loan for 300 Banyan, a boutique Class A office development in West Palm Beach that Brand Atlantic Real Estate Partners and Wheelock Street Capital are developing. The 12-story building will feature amenities that include a 2,500-square-foot indoor and outdoor fitness center, a 1,500-square-foot open-air lounge with reflecting pools and greenery, and a terrace with water views.

Acore also supplied an $85 million construction loan for a 264-unit luxury housing and retail development in West Palm Beach by Tortoise Properties that will comprise two eight-story towers linked by a skybridge. 

“I have always felt that West Palm Beach was ripe for tremendous growth, and you are seeing that now with all of the housing units that are coming online and all the new office buildings,” Fineman said. 

Despite challenging market conditions with rising interest rates, Fineman sees the potential for strong South Florida deal activity in the second half of 2023. He is also targeting possible transactions in other parts of Florida, including Orlando, Tampa and Jacksonville. —A.C.