1789 Capital, an investment firm with Donald Trump Jr. as a partner, is reportedly seeking to raise $1 billion for a new real estate fund. This fund will focus on property acquisitions and development in the South Florida market, specifically targeting areas like Palm Beach and Boca Raton. The initiative marks a significant push into commercial real estate for the firm.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik, is partnering with South Florida developer Frisbie Group.
- The fund aims to raise $1 billion for real estate ventures in Palm Beach and Boca Raton.
- Donald Trump Jr. joined 1789 Capital in November and is a partner in the firm.
- The firm has an "anti-woke" mission, a message that resonates with President Donald Trump’s supporters.
South Florida Real Estate Focus
1789 Capital is collaborating with the Frisbie Group, a local developer and luxury real estate firm, to launch this ambitious fund. The primary objective is to invest in and develop properties across South Florida, with a particular emphasis on the affluent regions of Palm Beach and Boca Raton. This strategic move is expected to leverage the growing real estate market in the area.
1789 Capital’s Background and Mission
Founded by Omeed Malik, who also sits on Fannie Mae’s board of directors, 1789 Capital has previously raised approximately $1.3 billion for its inaugural fund. The firm has described its mission as "anti-woke," a stance that aligns with the political messaging popular among President Donald Trump and his base. Beyond real estate, 1789 Capital has also been involved in investments such as the Enhanced Games, an online betting platform called Polymarket, defense startups, and ventures associated with Elon Musk.
Expanding Trump Family’s South Florida Presence
This venture further solidifies the Trump family’s extensive involvement in South Florida’s real estate landscape. Donald Trump Jr. and his brother Eric Trump are already leading The Trump Organization’s development projects. The region is home to significant Trump properties, including Mar-a-Lago, multiple golf courses, and previously developed residential towers. The proposed fund by 1789 Capital is poised to add to this substantial real estate footprint.
Sources
- 1789 Capital seeks $1bn for South Florida real estate push with Trump Jr. on board – Private Equity Insights, Private Equity Insights.
- South Florida Developer, Company Backed By Trump Jr. Partner For $1B Real Estate Fund, Bisnow.