An investment firm with ties to Donald Trump Jr. is joining forces with a prominent South Florida developer to launch a substantial real estate fund. The $1 billion initiative aims to acquire and develop properties primarily in the affluent markets 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, an investment firm co-founded by Donald Trump Jr., is partnering with Frisbie Group.
- The partnership aims to raise and deploy $1 billion for South Florida real estate.
- The fund will focus on acquisitions and developments in Palm Beach and Boca Raton.
A New Real Estate Venture
1789 Capital, an investment firm where Donald Trump Jr. holds a partnership role, has teamed up with the local luxury real estate firm Frisbie Group. This collaboration is set to establish a new fund with an ambitious target of $1 billion. The primary objective of this fund will be to pursue acquisitions and development projects within South Florida, with a specific focus on the lucrative markets of Palm Beach and Boca Raton.
Cody Crowell, who co-leads Frisbie Group with Rob Frisbie Jr., confirmed the partnership. While details remain scarce, the venture has reportedly garnered significant investor interest, with anonymous sources suggesting that 1789 Capital has already secured approximately $1 billion in commitments.
About 1789 Capital and Its Mission
1789 Capital was founded by Omeed Malik, a former Bank of America executive. The firm has publicly aligned itself with an "anti-woke" mission, a sentiment that resonates with a segment of President Donald Trump’s supporters. This fund marks 1789 Capital’s first foray into commercial real estate, although its inaugural fund reportedly raised around $1.3 billion. Beyond real estate, 1789 Capital has also been involved in backing the controversial Enhanced Games, an Olympic-style event permitting performance-enhancing drugs, and has invested in platforms like Polymarket, where Trump Jr. also sits on the board, as well as defense startups and Elon Musk’s ventures.
South Florida’s Real Estate Landscape
The South Florida real estate market continues to attract significant investment, with the Trump family already having a notable presence. Mar-a-Lago serves as a central piece of Donald Trump’s portfolio, which also includes golf courses in Doral and West Palm Beach. Recent approvals in Doral allow for the construction of nearly 1,500 luxury condos at his golf courses, and plans for a new office building in West Palm Beach have also been proposed. The Trump Organization, led by Donald Trump Jr. and Eric Trump, is actively pursuing new developments globally.
Frisbie Group, a long-standing family office in the Palm Beach market, has been strategically expanding its regional presence over the past decade, particularly since Rob Frisbie Jr. took the helm and Crowell joined in 2016.