Pembroke

What Pembroke does

Pembroke is an international real estate investment and asset management firm headquartered in Boston, Massachusetts, operating as part of Fidelity's parent company. Founded in 1997, the firm acquires, develops, and manages a portfolio of 44 commercial, residential, retail, and mixed-use assets totaling 9.8 million square feet across 13 markets in North America (Boston, San Francisco, Seattle, Washington DC), Europe (London, Stockholm, Oslo, Helsinki, Hamburg, Munich), and Asia Pacific (Melbourne, Sydney, Tokyo). Pembroke's strategy centers on what it terms "lifestyle assets" in central city locations, with a portfolio that includes trophy office buildings such as 20 Martin Place in Sydney and 140 New Montgomery in San Francisco, Grade II heritage properties like 41 Lothbury in London, prime retail destinations such as Maximilianhöfe in Munich, and build-to-rent residential developments including The Lark in London and Proto in Cambridge.

The firm's underlying technology is rooted in physical real estate rather than software: its buildings incorporate geothermal heating systems (producing over 80% of thermal energy needs at Vallila Properties in Helsinki), all-electric sustainable systems (41 Lothbury), and a portfolio-wide commitment to third-party sustainability certifications including LEED Gold and Platinum, BREEAM Excellent and Very Good, and WELL Health-Safety ratings. Pembroke does not develop proprietary technology platforms; instead, it partners with major commercial real estate brokerages (CBRE, JLL, Newmark, Cushman & Wakefield, Knight Frank) for tenant representation and uses property-specific websites for direct leasing. The firm is distinguished by its collaborations with award-winning landscape designers such as Tom Stuart-Smith to create distinctive tenant environments.

Pembroke generates revenue primarily through recurring rental income from multi-year commercial office, residential, and retail leases, supplemented by asset management, property management, and development services. Pricing is bespoke and quote-based, negotiated per-tenant per-property. The firm's private capital structure, backed by Fidelity, enables long-term patient investment across market cycles, allowing counter-cyclical acquisitions such as the December 2025 Proto acquisition for approximately $170 million and the development-led Alram 14 project in Munich launched in April 2026. Target customer segments include corporate office tenants (law firms, financial institutions, technology companies, professional services), residential renters in premium urban locations, and luxury retail and F&B tenants in mixed-use developments.

Name

Pembroke

Legal name

Pembroke Real Estate LLC

Website

https://pembroke.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

101–250 employees

Short description

Pembroke is a private international real estate firm that acquires, develops, and manages 44 commercial, residential, and mixed-use properties totaling 9.8 million sq ft across 13 markets, serving corporate, professional services, and residential tenants with prime central-city assets backed by Fidelity.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Real Estate Agents & Managers (For Others) (6531), Investors, Nec (6799)

akta.pro primary industry

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

Keywords

• Commercial real estate
• Property management
• Asset management
• Mixed-use development
• Sustainable buildings

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Office Leasing: Pembroke generates revenue through leasing Class A office space to corporate tenants in prime city-center locations across 13 global markets. Revenue is recurring through multi-year lease agreements with office tenants including law firms, financial institutions, and technology companies.
2. Residential Property Rental: Pembroke operates residential assets including apartments (Proto in Cambridge, Fitzroy in Arlington) and build-to-rent developments (The Lark in London, Azabu Gardens in Tokyo, Alram 14 in Munich). Revenue is recurring through monthly residential rents.
3. Retail and Mixed-Use Leasing: Pembroke leases retail spaces within its mixed-use developments to retailers, restaurants, and service providers. Properties include Maximilianhöfe in Munich (luxury retail), Coffee Plaza in Hamburg, and Commonwealth Pier in Boston.
4. Asset Management Services: Pembroke provides asset management, property management, and development services for its own portfolio and potentially for third-party investors. The company leverages private capital to invest through market cycles.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Pembroke is an international real estate firm that acquires, develops, and manages premium office, residential, mixed-use, and retail properties in central city locations across 13 global markets in North America, Europe, and Asia Pacific. The firm operates with private capital enabling long-term investment strategies, managing a 9.8 million sq ft portfolio of 44 assets through on-site leasing teams and institutional brokerage partnerships.

Product overview

Pembroke is an international real estate firm operating as a platform of commercial, residential, and mixed-use properties across 13 global markets. The portfolio comprises 44 assets totaling 9.8 million sq ft/915k sq m across North America (Boston, San Francisco, Seattle, Washington DC), Europe (London, Stockholm, Oslo, Helsinki, Hamburg, Munich), and Asia Pacific (Melbourne, Sydney, Tokyo). Commercial office properties include 255 State Street in Boston, 140 New Montgomery and 100 California Street in San Francisco, 400 Fairview in Seattle, and 1201 New York Avenue and 1801 Pennsylvania Avenue in Washington DC in North America; 10 Finsbury Square, 25 Cannon Street, 41 Lothbury, and One Grafton Street in London, plus Mästerhuset, PK Huset, Sveavagen 14, and RGNT in Stockholm, Majorstuen Properties in Oslo, Vallila Properties in Helsinki, Hamburg America Center, S-Kai, and Coffee Plaza in Hamburg, and Maximilianhöfe, Altstadt Palais, and Alter Hof in Munich in Europe. Residential offerings include Proto in Cambridge, Fitzroy in Washington DC, and The Lark in London. Mixed-use destinations include Commonwealth Pier in Boston, Tri-Seven Roppongi in Tokyo, and RGNT in Stockholm. The firm also operates retail properties including PK Huset and Maximilianhöfe.

Differentiator

Problem solved

Functional benefit

Products and services

• 255 State Street

Quantifiable outcome

• 98% occupancy achieved at 255 State Street, Boston through strategic leasing and property investments.
• +1 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core and minor.

• Ehret+Klein AGcoreStrategic or Co-development Partner · 28 April 2026Pembroke partnered with Munich-based real estate developer Ehret+Klein AG for the Alram 14 residential development project in Munich-Sendling. The partnership involves co-development of 186 new rental apartments, a REWE supermarket, and a children's daycare center on Alramstraße 14. Completion is scheduled for mid-2028.
• ULI EuropecoreStrategic or Co-development Partner · 6 February 2026Pembroke was featured in ULI Europe's Asset Sustainability Committees Best Practice Guide through its C Change programme. The guide provides practical guidance on establishing building-level sustainability committees and implementing decarbonization efforts in multi-let commercial buildings across Europe.
• NewmarkminorChannel Partner/ Reseller/ Distributor · 19 December 2025Newmark brokers facilitated Pembroke's acquisition of the Proto apartment complex in Cambridge's Kendall Square from BXP (Boston Properties). Newmark acted as the intermediary broker in the transaction.
• ImpleniaminorImplementation/ SI/ Consulting PartnerImplenia is serving as one of the general contractors for the Alram 14 construction project in Munich, working alongside co-contractor Zech.
• ZechminorImplementation/ SI/ Consulting PartnerZech is serving as one of the general contractors for the Alram 14 construction project in Munich, working alongside co-contractor Implenia.
• PIMCO Prime Real EstatecoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• IPUT Real EstatecoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• HinescoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• BNP Paribas Real EstatecoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• Derwent LondoncoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• RedevcocoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• LendleasecoreStrategic or Co-development PartnerFeatured alongside Pembroke in ULI Europe's Asset Sustainability Committees Best Practice Guide as one of twelve leading real estate owners and property managers sharing best practices on decarbonization.
• London Parks & GardensminorGTM or Marketing PartnerLondon Parks & Gardens, a small charity dedicated to celebrating and championing London's historic parks and green spaces, partnered with Pembroke for the annual London Open Gardens weekend at 25 Cannon Street. The partnership opens the private roof garden to the public as part of the annual event.
• Tom Stuart-SmithcoreStrategic or Co-development PartnerAward-winning landscape designer Tom Stuart-Smith has collaborated with Pembroke on multiple projects including the Reflection Garden at 25 Cannon Street, the roof terrace at 4 Cannon Street, and the banking hall at 41 Lothbury. His work creates distinctive garden and landscape environments that integrate nature with the workplace.
• CBREcoreGTM or Marketing PartnerCBRE featured Tri-Seven Roppongi in a new article in BZ Magazine 2026 Summer edition, highlighting the building's position as a standout premium office destination in Tokyo. CBRE's asset manager interview with Akihito Fujiano discussed the vision behind Tri-Seven and its continued appeal to occupiers.
• Anderson & Kreiger LLPminorOthersLaw firm Anderson & Kreiger LLP signed a full-floor lease commitment at 255 State Street, Boston, contributing to the property reaching 98% occupancy.
• Davis Malm PCminorOthersLaw firm Davis Malm PC signed a full-floor lease commitment at 255 State Street, Boston, contributing to the property reaching 98% occupancy.
• Quickbase, Inc.minorOthersTechnology company Quickbase signed a full-floor lease commitment at 255 State Street, Boston, contributing to the property reaching 98% occupancy.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Derwent London: London-listed REIT specializing in design-led, sustainable office space in central London. Closest direct peer to Pembroke's London office strategy (10 Finsbury Square, 25 Cannon Street, 41 Lothbury) with overlapping focus on refurbishment, sustainability credentials, and creative tenant mix.
• British Land: UK-listed REIT operating Campuses and Retail & Fulfilment assets with a focus on sustainability-led central London office and mixed-use. Comparable to Pembroke on UK central-city office exposure and long-term capital deployment in mixed-use campuses.
• Land Securities: UK-listed REIT with major central London office portfolio and mixed-use developments. Comparable to Pembroke on premium office ownership in London, mixed-use development approach, and large-ticket capital deployment in prime submarkets.
• Boston Properties (BXP): US REIT focused on Class A office in Boston, San Francisco, New York, and Washington DC. Directly comparable on Pembroke's North American office footprint; BXP was the seller of Proto to Pembroke via Newmark, evidencing direct overlap in product and geography.
• Great Portland Estates: London-listed REIT focused on prime office and mixed-use in central London's West End and City fringes. Comparable to Pembroke's London office strategy on size of assets, mid-market positioning, and refurbishment-led value creation.
• Kilroy Realty: West Coast US REIT focused on Class A office in San Francisco, Los Angeles, San Diego, Seattle, and Austin. Comparable to Pembroke's West Coast holdings (140 New Montgomery, 100 California Street in SF; 400 Fairview in Seattle) and similar sustainability-led premium positioning.
• SL Green Realty: Manhattan's largest office landlord, operating Class A office in NYC. Comparable to Pembroke on large-format Class A office ownership in primary US gateway cities with high-touch asset management.
• Vornado Realty Trust: NYC-focused REIT concentrated on Class A office in Manhattan plus high-end retail (e.g., Fifth Avenue). Comparable to Pembroke's combination of trophy office and luxury retail (e.g., Maximilianhöfe in Munich) in central city locations.
• Shaftesbury Capital: London REIT (merger of Shaftesbury and Capco) focused on mixed-use real estate in London's West End. Comparable to Pembroke's mixed-use approach (RGNT, Commonwealth Pier, 25 Cannon Street) combining office, retail, and experiential elements in prime locations.

Broad incumbents

• CBRE Group: Global commercial real estate services and investment firm. Overlaps with Pembroke through its investment sales, leasing, and asset management businesses; CBRE also actively features Pembroke assets (e.g., Tri-Seven Roppongi) as a brokerage partner, making it both a channel partner and broader competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pembroke-real-estate

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Pembroke