An investment firm with which Donald Trump Jr. is a partner, 1789 Capital, is reportedly joining forces with the South Florida-based Frisbie Group to launch a substantial $1 billion real estate fund. The initiative is poised to target acquisitions and development projects primarily in the affluent areas of Palm Beach and Boca Raton, signaling a significant expansion of the Trump family’s real estate footprint in the region.
Key Takeaways
- 1789 Capital, co-led by Omeed Malik, has partnered with the Frisbie Group for a new South Florida real estate fund.
- The fund aims to raise $1 billion, with initial investor interest reportedly approaching this target.
- The focus will be on development and acquisition opportunities in Palm Beach and Boca Raton.
- Donald Trump Jr. joined 1789 Capital in November and is a partner in the firm.
A New Real Estate Venture
1789 Capital, an investment firm where Donald Trump Jr. serves as a partner, is collaborating with the Frisbie Group, a local developer and luxury real estate firm. This partnership is set to launch a $1 billion fund dedicated to real estate developments across South Florida. Sources familiar with the matter indicate that the fund has garnered significant investor interest, with commitments reportedly nearing the $1 billion goal.
The primary geographical focus for the fund’s investments will be Palm Beach and Boca Raton, areas where the Frisbie Group has an established presence and is actively pursuing development opportunities. While representatives for the partners have largely declined to comment, the move signifies a strategic push into one of Florida’s most dynamic real estate markets.
About the Partners
Donald Trump Jr. joined 1789 Capital in November, a move that followed his father’s return to the White House. The firm, co-led by Omeed Malik and others, has previously been associated with ventures such as the Enhanced Games and investments in online betting platforms and defense startups. Omeed Malik has also been noted for describing the company’s mission as "anti-woke."
The Frisbie Group, headquartered in Palm Beach, is led by Rob Frisbie Jr. and Cody Crowell. The group has a long-standing history in the Palm Beach market and has been expanding its regional presence over the last decade. Notably, the Frisbie Group is also involved in a significant mixed-use redevelopment program in downtown Boca Raton, in partnership with Terra.
South Florida’s Real Estate Landscape
This new fund enters a South Florida market already marked by significant Trump family real estate interests. These include properties like Mar-a-Lago, Trump National Doral Miami, and Trump International Golf Club in West Palm Beach. Recent approvals for luxury condo developments at Doral and proposed office buildings in West Palm Beach further underscore the family’s ongoing investment in the area. The partnership between 1789 Capital and the Frisbie Group is expected to add a new dimension to this active development scene.
Sources
- South Florida Developer, Company Backed By Trump Jr. Partner For $1B Real Estate Fund, Bisnow.
- 1789 Capital seeks $1bn for South Florida real estate push with Trump Jr. on board – Private Equity Insights, Private Equity Insights.
- 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.