An investment firm with ties to Donald Trump Jr. is partnering with a prominent South Florida developer to launch a substantial $1 billion fund. The initiative aims to fuel acquisitions and new developments across the region, with a particular focus on Palm Beach and Boca Raton, signaling a significant expansion of the Trump family’s real estate interests in the area.
Key Takeaways
- 1789 Capital, an investment firm co-founded by Omeed Malik and joined by Donald Trump Jr. in November, is teaming up with the Frisbie Group.
- The partnership will target commercial real estate opportunities in South Florida, primarily in Palm Beach and Boca Raton.
- The fund has reportedly garnered approximately $1 billion in investor interest.
Strategic Partnership Forged
1789 Capital, an investment firm where Donald Trump Jr. holds a partner role, has joined forces with the Frisbie Group, a local developer and luxury real estate firm. This collaboration is set to launch a new fund with a significant $1 billion in investor interest, according to reports. The fund’s primary objective is to invest in and develop commercial real estate properties within South Florida, with a strategic focus on the affluent markets of Palm Beach and Boca Raton.
1789 Capital’s Vision and Portfolio
Founded by Omeed Malik, who previously served as a Bank of America executive, 1789 Capital has articulated an "anti-woke" mission, a stance that resonates with a segment of President Donald Trump’s supporters. While this new venture marks the firm’s first significant foray into commercial real estate, its inaugural fund reportedly raised around $1.3 billion. Beyond real estate, 1789 Capital has also backed ventures such as the Enhanced Games, an event that permits performance-enhancing drugs, and has invested in the online betting platform Polymarket, where Donald Trump Jr. also sits on the board. The firm has also shown interest in defense startups and companies associated with Elon Musk.
South Florida Real Estate Landscape
The South Florida real estate market, particularly in areas like Palm Beach and Boca Raton, has long been a focal point for luxury development. The Trump family already has a notable presence in the region, with properties including Mar-a-Lago and several golf courses. Local developers like Gil Dezer have also contributed to the area’s skyline with projects like Trump Towers. The Frisbie Group, a family office with a long-standing history in the Palm Beach market, has been actively expanding its regional footprint over the past decade, especially since Rob Frisbie Jr. took the helm and Cody Crowell joined as a partner in 2016. This partnership with 1789 Capital is poised to further shape the commercial real estate development in these key South Florida locales.