Pembroke Advances Its Global Diversification Strategy With First US Multifamily Acquisition In Arlington, VA

(MENAFN- PR Newswire)

Fitzroy offers residents an expansive range of lifestyle amenities
and proximity to parks, retail and the Metro.

WASHINGTON, Jan. 6, 2025 /PRNewswire/ --
The international Real estate business Pembroke
has acquired residential property, Fitzroy, in Arlington, VA. Since opening in October 2023, the 9-story, 267-unit building has become a highly coveted address and is currently 96% occupied. Fitzroy was designed with thoughtful lifestyle amenities that create a sense of community including a roof deck with pool, beautifully designed social areas, co-working pods to accommodate the hybrid workforce, on-site concierge, extensive bike storage and EV parking stations. The highly desirable Clarendon neighborhood offers parks, walking trails, restaurants, shops and public transportation into Washington, D.C. Fitzroy is also LEED Gold Certified.

"With office properties in central D.C. that are home base for thriving businesses, we're looking to leverage our learnings: people want to work and live in thoughtfully designed spaces that provide a wide range of amenities and conveniences," said Max Timmons, Director at Pembroke in Washington, D.C. "There's great demand for residential properties like Fitzroy that offer residents an easy commute, sustainable attributes and robust amenities to live life well. We're delighted to add this high-quality multifamily asset to our collection of renowned properties in the world's leading cities."

Fitzroy, Clarendon is Pembroke's first residential acquisition in the US and part of a strategy to diversify its real estate portfolio globally in the cities where Pembroke also has mixed-use and office properties such as Boston, London, Munich, Melbourne, Seattle, Sydney and Tokyo. Last December, Pembroke acquired a residential property in London, The Lark, which also exemplifies this strategy.
London is a city in which Pembroke has deep local knowledge and a hands-on team, and the Lark has core fundamentals including a range of amenities, proximity to major transportation links and employment hubs, as well as strong sustainability credentials. The building is currently 95% occupied.

"Supply is not keeping up with demand for high quality residential properties in coveted neighborhoods in the world's most sophisticated cities. Targeting investment in multifamily and BTR properties in the cities where our mixed-use and office buildings are located allows Pembroke to leverage this opportunity and our team's local expertise," said Jack Clark, Senior Vice President and Head of Investments at Pembroke. "A differentiator for us is that we're uniquely positioned to move quickly with acquisitions like Fitzroy, because we're able to close deals all cash and finance opportunistically later," Clark continued. "2025 will be a transformative year for Pembroke as we continue to look for the right residential properties in the right places to add to our global portfolio."

Pembroke extends its gratitude to Brian Crivella, Yalda Ghamarian and Bill Gribbin of Berkadia who facilitated this transaction.

Please visit
to learn more about Fitzroy.

About Pembroke

We're an international real estate advisor that acquires, develops and manages properties and places – specializing in mixed-use and office environments in the world's leading cities.

Facilitating the private capital of our investors, we take a long-term approach to real estate, investing in global cities with proven long-term growth potential.

We have offices in Boston, Hamburg, London, Munich, San Francisco, Stockholm, Sydney, Tokyo, and Washington, DC, and manage more than 837,000 sq m / 8.9m sq ft in North America, Europe, and Asia Pacific. By combining a global point of view with local expertise, we're able to create and manage world-class properties that deliver the best outcomes for our tenants, investors and the communities in which we work.
Please visit Pembroke to learn more about us and connect with us on LinkedIn .

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Media Contact:
Nicole Kelly
Allison
[email protected]

SOURCE Pembroke

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