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Pembroke Makes First US Multifamily Acquisition in Arlington
Pembroke has acquired Fitzroy, a nine-story, 267-unit building located at 3275 Washington Blvd in Arlington, Virgnia.
Berkadia’s Brian Crivella, Yalda Ghamarian and Bill Gribbin facilitated the transaction. The property opened in October 2023, and is currently 96% occupied. Fitzroy is situated in the Clarendon neighborhood offers parks, walking trails, restaurants, shops and public transportation into Washington, D.C. The building is also LEED Gold Certified.
“There’s great demand for residential properties like Fitzroy that offer residents an easy commute, sustainable attributes and robust amenities to live life well,” said Max Timmons, Director at Pembroke in Washington, D.C. Fitzroy, Clarendon is Pembroke’s first residential acquisition in the U.S. and part of a strategy to diversify its real estate portfolio globally in the cities.
“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,” said Jack Clark, Senior Vice President and Head of Investments at Pembroke.
