A new investment fund targeting South Florida’s real estate market has been launched through a partnership between 1789 Capital, an investment firm where Donald Trump Jr. is a partner, and the local developer Frisbie Group. The fund aims to deploy approximately $1 billion towards acquisitions and developments, with a primary focus on Palm Beach and Boca Raton.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik, is partnering with Frisbie Group for its first major foray into commercial real estate.
- The fund is reportedly seeking to raise $1 billion, with significant investor interest already secured.
- Donald Trump Jr. joined 1789 Capital in November, and the firm has an "anti-woke" mission.
- Frisbie Group, led by Rob Frisbie Jr. and Cody Crowell, has a long-standing presence in the Palm Beach market.
Expanding Real Estate Footprint
The collaboration marks a significant expansion of the Trump family’s presence in South Florida’s commercial real estate sector. 1789 Capital, which has previously backed ventures like the Enhanced Games and online betting platform Polymarket, is now shifting its focus to property development and acquisitions in the region.
Strategic Focus on Palm Beach and Boca Raton
The newly formed fund will concentrate its investments in Palm Beach, where Frisbie Group has an established history, and Boca Raton, a growing market where the group is actively pursuing development opportunities. While specific projects have not been detailed, the capital is expected to be deployed in both new developments and existing properties.
Notable Partnerships and Backgrounds
Donald Trump Jr.’s involvement with 1789 Capital, which he joined in November, adds a high-profile name to the venture. The firm itself was founded by Omeed Malik, a former Bank of America executive, and has been described as having an "anti-woke" mission. Frisbie Group, a family office that has been expanding its regional presence, is co-led by Rob Frisbie Jr. and Cody Crowell.
Market Context
This initiative comes as South Florida continues to see robust real estate activity. The region is already home to significant Trump family holdings, including golf courses and previously developed residential towers. The partnership with Frisbie Group signals a strategic move to capitalize on the area’s development potential.
Sources
- South Florida Developer, Company Backed By Trump Jr. Partner For $1B Real Estate Fund, Bisnow.
- Firm where Donald Trump Jr. is a Partner and Frisbie Group Join Forces on $1 Billion South Florida Real
Estate Fund, The Boca Raton Tribune.