A new $1 billion real estate fund is set to make a significant impact in South Florida, spearheaded by 1789 Capital, an investment firm with which Donald Trump Jr. is a partner. The fund will collaborate with local developer Frisbie Group, focusing on acquisitions and development projects primarily in Palm Beach and Boca Raton.
Key Takeaways
- 1789 Capital, co-founded by Omeed Malik, is launching a $1 billion real estate fund.
- The fund will partner with South Florida developer Frisbie Group.
- Investments will target acquisitions and developments in Palm Beach and Boca Raton.
- Donald Trump Jr. is a partner at 1789 Capital.
A Strategic Push Into South Florida
1789 Capital, an investment firm that Donald Trump Jr. joined in November, is teaming up with the well-established Frisbie Group, a luxury real estate firm. This partnership aims to deploy substantial capital into the South Florida market, with a particular emphasis on the affluent areas of Palm Beach and Boca Raton. While details remain scarce, the fund has reportedly garnered significant investor interest, with initial reports suggesting approximately $1 billion in commitments.
About 1789 Capital and Its Ventures
Founded by Omeed Malik, who previously held a position at Bank of America and now sits on Fannie Mae’s board of directors, 1789 Capital has positioned itself with an "anti-woke" mission. This fund marks the firm’s first foray into commercial real estate, following its inaugural fund which reportedly raised around $1.3 billion. Beyond real estate, 1789 Capital has been involved in diverse investments, including the controversial Enhanced Games, an online betting platform called Polymarket, defense startups, and ventures associated with Elon Musk.
Frisbie Group’s Local Expertise
The Frisbie Group brings a deep understanding of the Palm Beach market, operating as a family office with an expanding presence in the region. Under the leadership of Rob Frisbie Jr. and partner Cody Crowell, the firm has been actively growing its footprint over the past decade. This collaboration with 1789 Capital signifies a major step in their expansion plans.
South Florida’s Real Estate Landscape
The launch of this fund coincides with continued real estate activity involving the Trump family in South Florida. President Donald Trump has a notable portfolio in the region, including golf courses and recently approved luxury condo developments. The involvement of Trump Jr. through 1789 Capital further underscores the area’s appeal for significant real estate investment.