Donald Trump Jr. Returns to Real Estate Roots With $1B Raise
The Trumps are being pulled back into the world of real estate.
1789 Capital, an investment firm that counts Donald Trump Jr. as a partner, recently closed a $1.2 billion real estate fund, Axios reported. The fund represents a departure for Omeed Malik’s firm, which has invested in technology, defense and manufacturing as core areas of its strategy.
The firm is expected to invest in markets across the Sun Belt region, stretching out as far as Florida and Texas. Multifamily and workforce housing is expected to be a key target for the fund, though digital infrastructure, including data centers, is also on the table.
Trump, who doesn’t sit on the investment committee for the firm’s growth equity fund, will participate in the real estate fund decision-making.
The company is projecting returns upwards of 30 percent, seeking a total capitalization of $8 billion through the realization of investments attached to the fund. Co-investments and debt will likely be part of deals, as well as partnering with outside investors.
Centrally, 1789 is partnering with Easton Street, integrating the former Frisbie Group into the joint venture to eliminate extra fees tied to outsourcing development. Easton Street will bring its pipeline of projects into the fold.
1789, run with a conservative lean, manages more than $3 billion in assets, substantially boosted after Trump joined the company following his father’s reelection; approximately 40 percent of investors are foreign. As of the end of the second quarter, the firm’s primary growth equity fund has returned approximately 200 percent.
Past investments include Polymarket, GrabAGun, Tucker Carlson’s Last Country, Substack and the Enhanced Games.
Last year, 1789 teamed up with then-Frisbie Group on a $1 billion fund for South Florida real estate. The fund’s strategy focuses on developments in Palm Beach and Boca Raton, where Frisbie Group already had projects.
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