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This Black Real Estate Developer is Launching a $500 Million fund for Minority Developers

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Roy Donahue “Don” Peebles is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation, the largest Black owned real estate development and ownership company in the US, with a multibillion-dollar development portfolio of luxury hotels, high-rise residential and commercial properties.

Black Real Estate Developer

He recently announced that his firm will be launching a $500 million investment fund for 60 deals that involve minority and women developers in cities where the firm operates, including New York, Los Angeles, Washington D.C., and Philadelphia.

In addition to supplying capital, Peebles said his company will look at ways to support the emerging developers. Through co-developing or partnerships, he hopes the fund will “help mitigate risk and help them grow quicker.”

The fund will focus on a variety of commercial and multifamily projects, with an emphasis on projects that range between $10 to $70 million.that offer affordable housing

“The idea is to create this business model that shows that investing in emerging developers and investing in diversity will result in higher returns with less risk,” Peebles added.

“It’s a very positive thing to have the developments that are taking place in communities of color, to have the projects be developed by people of color,” Peebles said. “We see this as a win-win and an untapped market.”

We previously listed Don Peebles on our list of Top 24 Black Real Estate Businesses and Professionals.

 

-Tony Oluwatoyin Lawson (IG @thebusyafrican)

 

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1 Comment

  1. Great article! As usual, I’m all over the place because once I have a thought then start following it, it usually takes to other great sources: I was looking for Black owned construction companies because I’m more interested in the ownership of the space versus renting from foreign investors who don’t hire from within the neighborhood nor give back to the communities in which they set up shop. And, that’s how I came across your great article. As an aspiring entrepreneur, I don’t have the funds for such a lofty wish list.

    I wish I could have been with you during this interview because–again–my thoughts ran wild with question for Roy Donahue “Don” Peebles. For example, I get the concept of if you can’t beat them join them in the real-estate development game; however, I want to know specifically, “how can a small aspiring business owner like myself get space in construction built by Black, for Black, in a Black neighborhood? I believe that this helps minority business owners avoid being kicked out of their neighborhood when gentrification occurs–which is extremely important~

    For example, a modest strip mall, with maybe two floors that can act as an incubator for aspiring entrepreneurial residents servicing the community. Once it’s a success they can either rent the space at fair market value or go out into the community.

    In closing, thanks again for the great read

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