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.
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.”