1789 Capital, an investment firm with which Donald Trump Jr. is affiliated, is joining forces with the local luxury real estate firm Frisbie Group to establish a substantial $1 billion real estate fund. This initiative is poised to significantly expand the Trump family’s footprint in the South Florida commercial real estate market, with a primary focus on acquisitions and development in Palm Beach and Boca Raton.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik, is partnering with Frisbie Group for its first foray into commercial real estate.
- The fund aims to raise approximately $1 billion in investor interest.
- The partnership signals a strategic push into the lucrative South Florida market.
Strategic Partnership Forged
Donald Trump Jr. is a partner at 1789 Capital, which has announced its collaboration with Frisbie Group. Cody Crowell, co-leader of Frisbie Group, confirmed the partnership, though further details were not provided. The venture, first reported by Bloomberg, indicates a significant capital commitment to the South Florida region.
Investment Focus and Firm Background
1789 Capital, founded by Omeed Malik, has previously been associated with ventures such as the Enhanced Games and investments in online betting platforms, defense startups, and Elon Musk’s companies. Malik, who also sits on Fannie Mae’s board of directors, has described the firm’s mission as "anti-woke." This new fund marks 1789 Capital’s initial significant move into the commercial real estate sector, following its first fund which reportedly raised around $1.3 billion.
South Florida Real Estate Landscape
The partnership taps into the dynamic South Florida real estate market, an area already associated with the Trump family’s extensive portfolio, including golf courses and previously developed residential towers. Frisbie Group, a long-standing family office in the Palm Beach market, has been actively expanding its regional presence over the past decade. The planned fund is expected to target acquisitions and new developments, potentially bolstering the existing commercial real estate offerings in key areas like Palm Beach and Boca Raton.