What Monument Realty does

Monument Realty is a fully integrated, privately held real estate development and ownership firm headquartered in Washington, DC, founded in 1998 by Michael J. Darby. The company operates across the full real estate lifecycle, offering development, construction management, commercial and retail leasing, property management, condominium sales (via its wholly-owned subsidiary Capital Residential Properties, formed 2004), and retail investment services (via Monument Retail). Its portfolio spans approximately 8 million square feet of Class A office space, 400,000 square feet of retail, 8,000 residential units (apartments and condominiums), and select hospitality assets, with an aggregate portfolio value approaching $6 billion.

The firm's underlying capability stack is rooted in site assemblage and entitlement navigation in the DC metro market, demonstrated by precedents such as the Half Street assemblage (1.26 million SF across 50 parcels from 21 owners ahead of Nationals Park), the Boeing Monument View build-to-suit (320,000 SF in Arlington, VA), and creative public-private structures including the Arlington County property swap. Monument develops across asset classes (office, multifamily, mixed-use, life sciences, retail, and hotel), with LEED-certified outputs (Gold at Monument View, Liberty Building, Monument Innovation Center, 100 M Street; Silver at SoNYa, Monument Village, One M). Distribution flows through direct enterprise sales for build-to-suits and major leases (Boeing, NAB, E*Trade, Inova Health, Abt Associates) and through broker relationships for commercial leasing and nationwide retail investment sales.

The business model is fee and transaction-driven rather than subscription-based. Revenue streams include development fees and profit participations on partnership projects (with capital partners Apollo, Nuveen, JRE Partners, Greenfield Partners, Carlyle Group, Ares Management, Prudential, Bank of America), commercial leasing commissions, construction management fees, ongoing property and asset management fees on owned inventory, condominium sales commissions (over $500 million in transactions closed by Capital Residential Properties), and retail investment sales commissions (over $300 million closed by Monument Retail). Pricing is not publicly disclosed and is negotiated on a project-by-project basis.

Name

Monument Realty

Legal name

Monument Realty

Website

https://monumentrealty.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Monument Realty is a fully integrated, privately held real estate development firm founded in 1998 and headquartered in Washington, DC, delivering Class A office, residential, retail, hospitality, and life sciences projects through its in-house development, leasing, property management, construction management, and brokerage subsidiaries across the DC metro area.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Other Activities Related to Real Estate (531390)

SIC

Real Estate Dealers (For Their Own Account) (6532), Lessors Of Real Property, Nec (6519), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

akta.pro secondary industries

Real Estate / PropTech Growth Equity (FSANACAH), Specialty & Entertainment Venue Property Management (BPAJAGAO)

Keywords

• Commercial real estate development
• Property management services
• Commercial leasing brokerage
• Residential condominium sales
• Construction management services

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Development Fees and Profits: Monument Realty generates revenue through development fees, construction management fees, and profits from development partnerships. They act as developer for office, residential, retail, and hospitality projects, often selling completed projects to investors or end-users while retaining property management contracts.
2. Property Management: Ongoing property management fees from commercial office buildings and retail properties in their portfolio. Services include tenant engagement, digital enablement, amenity management, and capital forecasting.
3. Commercial Leasing Commissions: Revenue from leasing commercial office and retail space, including tenant representation and landlord representation services.
4. Condominium Sales (Capital Residential Properties): Monument Realty's condo sales affiliate Capital Residential Properties earns commissions on new development condo sales, having sold over 1,100 residential transactions totaling over $500 million.
5. Retail Investment Sales: Monument Retail generates transaction fees through acquisition and disposition of STNL and multi-tenant retail assets, 1031 exchanges, representing buyers, sellers and investors nationwide.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Monument Realty is a fully integrated real estate firm that develops, leases, manages, and sells commercial office, residential, retail, and mixed-use properties primarily in the Washington, DC metro area. The company operates across the full real estate lifecycle, providing development, construction management, commercial and retail leasing, residential sales (via Capital Residential Properties), and property and asset management services, with a portfolio exceeding 8 million square feet of Class A office space, 400,000 square feet of retail, and 8,000 residential units.

Product overview

Monument Realty is a fully integrated real estate company offering development, commercial leasing, property management, construction management, condo sales (via Capital Residential Properties), and retail services (via Monument Retail). The company's portfolio includes residential apartments and condominiums (SoNYa, Avidian, The Shaw), mixed-use developments (The Gallery phases), life sciences/lab space (Monument Innovation Center), retail centers (Riverside Square), and Class A office properties (Liberty Building). Services are organized as distinct business lines that collaborate across the development lifecycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Development Full-service real estate development covering financial structuring, feasibility analysis, due diligence, construction management, and long-term asset management for office, residential, retail, and mixed-use projects in the Washington, DC metro area.
• Commercial Leasing Commercial leasing services including market analysis, tenant prospecting, lease negotiation, and asset value promotion for office and retail properties across the Washington, DC region.
• Property Management Boutique property management service offering tenant engagement, digital enablement, amenity management, and budget/accounting services for Class A office and retail properties.
• Construction Management Construction administration and management for new construction and renovations, including preliminary documents, permitting, design development, and project management.
• Capital Residential Properties Condominium sales brokerage affiliate providing marketing, listing, and selling services for luxury condominiums in the Washington, DC region, having executed more than 1,100 residential transactions totaling over $500 million.
• Monument Retail Retail services subsidiary offering owner/tenant representation, investment sales, triple-net property transactions, 1031 exchanges, and financing services for retail assets nationwide.
• SoNYa Apartment Community A 321-unit, 14-story luxury apartment community in the NoMa submarket of Washington, DC, featuring LEED Silver certification, rooftop pool, fitness center, and art-infused design.
• Avidian A 14-story, 171-unit condominium building near Nationals Park in Washington, DC, featuring mid-century modern and industrial design with terraces, rooftop pool, and fitness amenities.
• Monument Innovation Center A 135,000 SF, 4-story ground-up life science building in Gaithersburg, MD, built to LEED Gold specifications with enhanced electrical capacity and state-of-the-art mechanical systems for biotech and life sciences tenants.
• The Gallery (H Street) A 12-story, 72-unit multifamily residential building with ground-floor retail at 615 H Street NW in Chinatown, Washington, DC, serving as the first phase of a larger mixed-use community.
• The Gallery (Eye Street) An 8-story, 117-unit mixed-use development with ground-floor retail connected to the H Street phase via elevated bridge, including six renovated historic townhomes.
• Riverside Square A 90,000 SF shopping center in Ashburn, VA along Route 7, featuring tenants including Sheetz, Texas Roadhouse, and Method Health Club.
• 1129 20th Street (Liberty Building) A 176,000 SF, 10-story Class A office property in Washington, DC's Central Business District, LEED Gold certified following a complete renovation.

Quantifiable outcome

• Portfolio of 8+ million SF Class A office, 400,000 SF retail, 8,000 residential units valued at approximately $6 billion
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered minor and major.

• Shakespeare Theatre CompanyminorStrategic or Co-development Partner · 11 February 2026Purchased the office component of Chinatown Row (approximately 50,000 SF) from Monument Realty while Monument continues to operate the retail portion of the property.
• Morningstar Community DevelopmentmajorStrategic or Co-development Partner · 1 July 2019Development team partner selected by D.C. Mayor Bowser for the 2 Patterson Street NE project yielding nearly 900 residential units in NoMa.
• The May FirmmajorStrategic or Co-development Partner · 1 July 2019Development team partner selected by D.C. Mayor Bowser for the 2 Patterson Street NE affordable housing project in NoMa.
• Community Housing PartnersmajorStrategic or Co-development Partner · 1 July 2019Development team partner selected by D.C. Mayor Bowser for the 2 Patterson Street NE affordable housing development in NoMa.
• Arlington CountymajorStrategic or Co-development PartnerMonument Realty executed a property swap with Arlington County, exchanging the Twin Bridges site for an equally valuable county-owned property nearby as part of the Boeing/Monument View deal structure.
• Forest City EnterprisesmajorStrategic or Co-development PartnerOwner of Ballston Common Mall who solicited Monument Realty to construct a 225,000 SF speculative office building in air-rights above a newly built retail pavilion.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Carr Properties: Washington, DC-focused commercial office owner/developer with a similar Class A central-business-district portfolio and institutional investment partners—directly competing for trophy office assets and major tenant leases in the same DC submarket.
• JBG SMITH Properties: DC-metro-focused publicly traded REIT and developer of mixed-use, office, residential and life-sciences assets—Monument's most direct peer in terms of geography, asset-mix diversification, and build-to-suit capabilities.
• Akridge: Long-standing DC commercial real estate developer and owner with comparable office, mixed-use and build-to-suit expertise; Monument's founder Michael Darby previously held senior positions at Akridge, reflecting deep operational overlap.
• Douglas Development: Privately held DC-focused real estate developer specializing in urban infill, mixed-use and adaptive-reuse projects—a direct peer in the same local development niche as Monument.
• Grosvenor: Privately held international real estate developer with a longstanding US/DC operating presence, active in mixed-use and residential development similar to Monument's NoMa and Chinatown pipeline.
• Stonebridge (formerly PN Hoffman): DC-based residential and mixed-use developer active in neighborhoods where Monument operates (NoMa, Southwest Waterfront), making it a direct peer for build-to-rent, condominium, and mixed-use entitlement deals.

Broad incumbents

• Boston Properties: Large publicly traded office REIT with significant DC presence and prior transaction counterparty to Monument (purchased 901 New York Avenue)—a broad incumbent that competes for trophy office product and institutional capital in DC.
• Brookfield Properties: Global diversified real estate owner/developer with significant DC office holdings—competing institutional buyer of DC trophy office product that has acquired air-rights JV assets from developers like Monument.
• Vornado Realty Trust: Major publicly traded office-focused REIT with a meaningful DC asset cluster, competing for premier office and mixed-use opportunities in the same downtown-DC submarket as Monument.
• Tishman Speyer: Global developer of trophy office and mixed-use assets—an incumbent competing for institutional investment partners and large corporate build-to-suit mandates that Monument also pursues.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/monument-realty
• Instagraminstagram.com/monumentrealty_
• Xx.com/MonumentRealty_

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Monument Realty