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Next Gen Peebles

Washington DC Hotel

Don Peebles, well-known to our older readers, was himself a wünderkind—growing up in Petworth, fundraising for Marion Barry, by age 24 heading the DC Board of Real Property Assessments and Appeals, and today approaching billionaire status as a major developer in Miami, NYC, Boston, Philly, SF, Las Vegas and DC, with $3.5B in projects underway.

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But there’s a younger Peebles coming up the line, Donahue, here on his 21st birthday in April at the 21 Club in Manhattan, re-enacting the Wall Street movie scene (see below) where Michael Douglas “shows the money” to Charlie Sheen.

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We’re excited that Don and Donahue will be making their first-ever joint public appearance in DC at our New Generation Real Estate Leaders event at the Mayflower on Thursday of this week, where they promise to let all of us in on the secrets to making greenbacks in real estate. And how the generations look at some things the same—and some things differently. (Please join us!)

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Donahue, wrapping up at Columbia University, is in charge of the family’s current project in DC—a “boutique five-star hotel” at 5th and Massachusetts, going to the BZA this week and potentially breaking ground the second half of 2016. (Don also owns the Courtyard by Marriott on 9th and F, which he says is one of that brand’s top five performers in the country.) Despite his youth, Donahue's had experience: He worked on the renovation of the family’s Sag Harbor beach house when he was 13, interned during high school at Citigroup and DLJ and on Capitol Hill, and of course has heard his dad talk real estate since he was born. He’s also honed his competitiveness in sports: Don's coached him on basketball, and the two of them ski together and even learned snowboarding at the same time 15 years ago.

So does this mean Don’s retiring? Well, conceivably dialing back a bit on real estate, but if so, jumping more into politics. Although Don has long been active behind the scenes (for example, he’s board chairman of the Congressional Black Caucus Foundation), the press in NY has been widely reporting his active interest in challenging Mayor Bill de Blasio. So if you think the Trumps are the only high-profile real estate family, get ready for Don and Donahue—and see you Thursday!

Related Topics: Don Peebles, Peebles Corporation