1789 Capital, an investment firm with which Donald Trump Jr. is affiliated, is joining forces with South Florida developer Frisbie Group to establish a substantial $1 billion real estate fund. This initiative is poised to significantly impact the commercial real estate landscape in key South Florida markets, including Palm Beach and Boca Raton.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik, is partnering with Frisbie Group for a new real estate fund.
- The fund aims to raise $1 billion for acquisitions and developments in South Florida.
- Donald Trump Jr. is a partner at 1789 Capital.
- The partnership marks 1789 Capital’s entry into commercial real estate.
Strategic Real Estate Push
The collaboration between 1789 Capital and Frisbie Group signals a major investment in South Florida’s property market. The fund will focus on both acquiring existing properties and developing new projects, with a particular emphasis on the affluent areas of Palm Beach and Boca Raton. This move is expected to leverage the growing commercial real estate opportunities in the region.
1789 Capital’s Diverse Portfolio
While this marks 1789 Capital’s first significant foray into commercial real estate, the firm has a varied investment history. It is known for backing the "Enhanced Games," an event that permits performance-enhancing drugs, and has also invested in platforms like Polymarket, where Donald Trump Jr. also serves on the board. Other investments include defense startups and firms associated with Elon Musk. The firm’s founder, Omeed Malik, has previously described 1789 Capital as having an "anti-woke" mission, a stance that resonates with a particular political demographic.
Frisbie Group’s Local Expertise
Frisbie Group brings a deep understanding of the Palm Beach market, operating as a family office with an expanding presence in the region over the past decade. Under the leadership of Rob Frisbie Jr. and partner Cody Crowell, the firm has established itself as a key player in South Florida’s real estate development scene.
Expanding Trump Family’s South Florida Footprint
This venture aligns with the broader expansion of the Trump family’s real estate interests in South Florida. The family already has a significant presence in the area, including Mar-a-Lago, multiple golf courses, and residential developments like Trump Towers in Sunny Isles Beach. Donald Trump Jr. and Eric Trump are also actively involved in managing The Trump Organization’s extensive portfolio of existing and new projects.
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.