A new $1 billion real estate fund is set to target acquisitions and developments in South Florida, primarily in Palm Beach and Boca Raton. The initiative is a collaboration between 1789 Capital, an investment firm with which Donald Trump Jr. is affiliated, and the local luxury real estate firm Frisbie Group.
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 attract significant investor interest, with initial reports suggesting around $1 billion.
- Donald Trump Jr. is a partner at 1789 Capital, and the firm has previously backed ventures like the Enhanced Games and online betting platform Polymarket.
Strategic Partnership Forged
1789 Capital, an investment firm where Donald Trump Jr. serves as a partner, has joined forces with the well-established South Florida developer, Frisbie Group. This strategic alliance aims to launch a substantial real estate fund with an initial target of $1 billion. The fund is poised to focus on acquiring and developing properties within the lucrative South Florida market, with a particular emphasis on Palm Beach and Boca Raton.
Investment Focus and Firm Background
Cody Crowell, who co-leads Frisbie Group with Rob Frisbie Jr., confirmed the partnership. While details remain scarce, initial reports suggest that 1789 Capital has already garnered significant investor interest for the fund. Omeed Malik, the founder of 1789 Capital, has previously described the company’s mission with an "anti-woke" stance, a phrase resonating with conservative supporters. This fund marks 1789 Capital’s initial venture into commercial real estate, following its first fund which reportedly raised approximately $1.3 billion. The firm is also known for its involvement with the Enhanced Games and investments in platforms like Polymarket, where Trump Jr. also holds a board position.
South Florida Real Estate Landscape
The partnership taps into the dynamic South Florida real estate market, an area with existing Trump family investments, including golf courses and previously developed luxury condominiums. Frisbie Group brings a deep understanding of the local market, having operated as a family office in Palm Beach for many years and expanding its regional presence significantly over the past decade. This collaboration is expected to leverage both firms’ expertise to capitalize on development and acquisition opportunities in one of the nation’s most sought-after real estate destinations.