Real Estate

‘The Mooch’ is back in the hedge fund business after White House whirlwind with Trump

Anthony “The Mooch” Scaramucci talked real estate with RE | source.
Anthony “The Mooch” Scaramucci talked real estate with RE | source. AP File

After a 10-day stint as the White House communications director in 2017, Anthony “The Mooch” Scaramucci returned to hedge funds and, as of 2018, Opportunity Zones.

South Florida will have the chance to learn more about his investment insights in October.

The Commercial Real Estate Development Association’s South Florida Chapter (NAIOP) will host the former aide to President Trump at the Ritz-Carlton Fort Lauderdale. He will talk trade, the economy and global markets.

Scaramucci continues to oversee SkyBridge Capital as managing partner, an investment hedge fund firm he started in 2005. Last year, his team launched the SkyBridge Opportunity Zone Real Estate Investment Trust in which his team aimed to raise $3 billion from investors willing to invest in a variety of real estate projects.

Over email, “The Mooch” shared his thoughts on South Florida’s real estate with the RE | source team.

Q: Why are you coming to South Florida?

South Florida is a booming economy and vibrant community due to smart decisions by state and local leaders that have made it a great place to live and do business. Combine with the always-nice weather, and why wouldn’t I want to visit!

Q: You have extensive international experience. In your mind, how does South Florida stack up against other world markets, both in terms of residential and commercial?

South Florida is second to none in terms of residential and commercial markets. Business friendly policies have created a capitalistic environment where people can thrive both personally and professionally, which is a reason why people from around the world flock to the area.

Q: What are your predictions for South Florida’s commercial and residential markets for the next two years?

Given the recent tax reform, people will continue to flock to South Florida. Being a New Yorker, I see first-hand the migration taking place down south, most commonly to South Florida. Some of my good friends in the financial industry, including David Tepper and Carl Icahn, moved their company headquarters down to Florida recently and the trend will continue. The growth of the South Florida financial ecosystem will be very positive for commercial and residential markets.

Q: Are you investing in South Florida now? If not, what tempts you, and why?

We don’t currently have any direct investments in Florida, but the MBS funds we invest in have exposure to the area. We opened an office in Palm Beach several years ago and continue to monitor opportunities in South Florida as we expand our real estate operations.

Q: While your time in the White House was brief, it was surely interesting. Did it have any influence on your business views or strategies? If so, what and how?

Yes, it made me not want to work in politics. The stakes are so small in Washington — people jockeying for incrementally more power and fighting over things like committee appointments — that nobody has an incentive to find common ground. In business, we are fighting over a big pie so I make deals all the time with people who I may not like personally. Seeing the sclerosis of big government bureaucracies in Washington also gave me a newfound appreciation for federalism and the great policy-making of leaders in places like Florida.

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Rebecca San Juan writes about the real estate industry, covering news about industrial, commercial, office projects, construction contracts and the intersection of real estate and law for industry professionals. She studied at Mount Holyoke College and is proud to be reporting on her hometown.
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