1789 Capital, an investment firm with which Donald Trump Jr. is affiliated, is reportedly in discussions to launch a substantial $1 billion real estate fund. This initiative is set to focus on property acquisitions and development within the vibrant South Florida market, specifically targeting areas like Palm Beach and Boca Raton. The venture marks a significant expansion into commercial real estate for the firm.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik and now including Donald Trump Jr. as a partner, is planning a $1 billion real estate fund.
- The fund will concentrate on acquisitions and development in South Florida, with a focus on Palm Beach and Boca Raton.
- The firm has partnered with local developer Frisbie Group for this commercial real estate endeavor.
- 1789 Capital has previously launched a $1.3 billion fund and is known for backing ventures like the Enhanced Games and Polymarket.
South Florida Real Estate Focus
The new fund, spearheaded by 1789 Capital in partnership with the Frisbie Group, aims to capitalize on the growing real estate opportunities in South Florida. The strategy involves both acquiring existing properties and undertaking new development projects. This move signifies a strategic push into the commercial real estate sector for 1789 Capital, which has previously invested in diverse areas including online betting platforms and defense startups.
1789 Capital’s Background and Mission
Founded by Omeed Malik, 1789 Capital has positioned itself with an "anti-woke" mission, a stance that resonates with a segment of President Donald Trump’s supporters. Donald Trump Jr. joined the firm in November, further aligning it with the Trump family’s business interests. The firm’s inaugural fund reportedly raised approximately $1.3 billion, and its portfolio includes investments in various ventures, notably the controversial Enhanced Games, which plans to allow performance-enhancing drugs.
Partnership with Frisbie Group
The collaboration with Frisbie Group, a well-established local developer and luxury real estate firm, is crucial to this new venture. Cody Crowell and Rob Frisbie Jr. lead the Frisbie Group, which has a long-standing presence in the Palm Beach market. This partnership is expected to leverage Frisbie Group’s local expertise and development capabilities to execute the fund’s investment strategy in South Florida.
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.