Pembroke, a real estate company based in Washington D.C., recently acquired Fitzroy, a 267-unit building located at 3275 Washington Blvd in Arlington, Virginia. The nine-story property was purchased with the help of Berkadia’s Brian Crivella, Yalda Ghamarian and Bill Gribbin.
Fitzroy opened its doors to residents in October 2023 and is currently at an impressive occupancy rate of 96%. Located in the popular Clarendon neighborhood, it offers easy access to parks, walking trails, restaurants and shops. Public transportation into nearby Washington D.C. is also readily available from this prime location. Additionally,Fitzroy has been awarded LEED Gold Certification for its sustainable features.
According to Max Timmons,Director at Pembroke’sWashington D.C.office,”There is high demand for residential properties like Fitzroy that provide convenient commuting options,sustainable features,and top-notch amenities for residents.” This acquisition marks Pembroke’s first venture into the U.S.residential market as part of their global strategy to diversify their real estate portfolio across major cities.
Jack Clark,Sr.Vice Presidentand Headof InvestmentsatPembroke,stated,”Our abilityto close all-cash deals quickly sets us apart from other companies.We are well-positionedto take advantageof opportunitieslikeFitzroynowand secure financing later.”
In summary,Pembrokehas madeitsfirstmultifamilyacquisitionintheU.S.withthepurchaseof FitzroynearArlington,Virginia.Thecompanyisexcitedtobringtheiruniqueapproachandsuccessfultackrecordtogrowtheirpresenceintherealestatemarketglobally.
