Pembroke Realty Group

What Pembroke Realty Group does

Pembroke Realty Group is a privately held, full-service real estate firm headquartered in Virginia Beach, Virginia, operating primarily in the Hampton Roads region with a recent expansion into North Carolina. The company traces its roots to 1955 when co-founder Frederick Napolitano began building in Hampton Roads, was formally established as Pembroke Commercial Realty in 1962 alongside the late Richard Olivieri, and was rebranded to Pembroke Realty Group in the 2020s to reflect its expanded multifamily operations. With 11–50 employees, the firm serves commercial property owners, office and retail tenants, apartment community owners, and developers/investors through eight core service lines: commercial sales, office and retail leasing, commercial property management, apartment property management, tenant representation, asset management, construction management, and development/acquisitions. The firm manages over 2.6 million square feet of commercial property and, through affiliated builders, has participated in the development of more than 13,000 residential units and over 2 million square feet of commercial property, including Pembroke Mall, Hampton Roads' first enclosed regional mall.

The company's service architecture is integrated rather than platform-based: leasing, sales, property management, construction management, and asset management cross-sell internally on shared assets such as Pembroke Square, an active mixed-use redevelopment of the original Pembroke Mall site. Pembroke holds no proprietary technology platforms and relies on industry-standard third-party tools, notably CoStar for commercial real estate market data and analytics, plus Google AdWords remarketing for digital marketing. The current management team combines long-tenured principals with executives drawn from larger commercial real estate platforms such as Jones Lang LaSalle and Cushman & Wakefield/Thalhimer.

Pembroke's revenue model is diversified across transaction-based fees (brokerage commissions on commercial sales, office and retail leasing, and development/acquisition advisory) and recurring managed services fees (commercial and apartment property management, asset management). Go-to-market is exclusively direct: in-house broker, property management, and development teams deliver all services — there are no resellers, franchisees, or external distribution partners. Pricing is negotiated per-transaction and per-property rather than published as standard tiers. The customer base spans institutional and entrepreneurial property owners and commercial tenants ranging from national retail chains to small businesses, all concentrated in a single regional market with limited but growing multi-state exposure.

Name

Pembroke Realty Group

Legal name

Pembroke Realty Group

Website

https://pembrokerealty.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

Pembroke Realty Group is a privately held, full-service commercial and multifamily real estate firm in Virginia Beach offering sales, leasing, property management, construction management, and development services across the Hampton Roads region and North Carolina.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (53121), Real Estate Property Managers (53131), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

akta.pro secondary industries

Investment Sales Brokerage (BPAJABAI), Tenant Representation & Corporate Services Brokerage (BPAJABAJ)

Keywords

• Commercial real estate services
• Property management
• Commercial leasing
• Real estate development
• Asset management services

Headquarters

HQ city

Virginia Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Sales: Represents buyers and sellers in commercial properties including office buildings, retail, industrial, land, apartments, shopping centers, self storage facilities, and investment properties.
2. Office & Retail Leasing: Leasing services for office and retail spaces, representing both landlords and tenants in lease negotiations and property marketing.
3. Commercial Property Management: Professional property management services for office and retail properties, managing over 2.6 million square feet of commercial space.
4. Apartment Property Management: Full range of apartment community management services including tenant relations, maintenance, and financial management.
5. Development/Acquisitions: Land acquisition, development, and redevelopment services for office, retail, residential and mixed-use projects.
6. Construction Management: Construction management services for tenant build-outs to regional mall renovations and new construction projects.
7. Asset Management: Full-service accounting operations for real estate including development projects, office buildings, shopping centers, and apartment communities.
8. Tenant Representation: Broker services helping tenants secure optimal real estate matches for their business needs.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Pembroke Realty Group is a full-service commercial real estate company that buys, sells, leases, manages, develops, and invests in commercial and apartment properties. Service lines include commercial sales and brokerage, office and retail leasing, tenant representation, commercial property management, apartment property management, asset management, construction management, and development/acquisitions. The firm operates primarily across Hampton Roads, Virginia, with a recently announced expansion into North Carolina.

Product overview

Pembroke Realty Group is a full-service real estate firm offering a comprehensive suite of services organized as interconnected business lines. The core offerings include Commercial Sales and Office & Retail Leasing for property transactions, paired with Commercial Property Management and Apartment Property Management for ongoing asset stewardship. Supporting services include Tenant Representation, Asset Management (accounting and financial reporting), Construction Management, and Development/Acquisitions. The company manages a portfolio of over 2.6 million square feet of commercial, retail, industrial, land, and apartment properties across the Hampton Roads region and North Carolina, including notable properties like Pembroke Square (mixed-use redevelopment), Pembroke Mall, and various apartment communities. The service architecture is platform-based, with shared infrastructure across divisions enabling cross-functional expertise in leasing, property management, development, and sales.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Sales (Brokerage) Brokerage services for buying and selling commercial properties (office, retail, industrial, and apartment) for commercial property owners, investors, and users in Hampton Roads and North Carolina.
• Office & Retail Leasing Leasing of office and retail space on behalf of landlords and tenants in Hampton Roads and North Carolina, including space marketing and tenant outreach.
• Tenant Representation Representation of tenant-businesses in site selection, lease negotiation, and terms execution across office, retail, and apartment space.
• Commercial Property Management Day-to-day management of commercial buildings (office, retail, industrial) on behalf of owners, including on-site operations, tenant relations, and facilities oversight.
• Apartment Property Management Management of apartment communities on behalf of owners, including on-site property management, leasing, occupancy, and maintenance operations.
• Asset Management Strategic oversight of commercial real estate assets on behalf of owners/investors, including financial performance management, leasing strategy, and capital planning.
• Construction Management Management of construction activities for commercial real estate projects on behalf of owners and developers, including oversight of build-out, capital improvements, and renovations.
• Development / Acquisitions Acquisition and development of commercial real estate opportunities for owners, developers, and investors, including site identification, underwriting, and execution.

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered minor and core.

• Building Owners and Managers Association (BOMA)minorOthersProfessional real estate organization membership providing industry policy updates and standards.
• Central Business District Association (CBDA)minorOthersLocal business district association membership for market networking and advocacy.
• Commercial Real Estate Women of Hampton Roads (CREW)minorOthersNetworking organization for women in commercial real estate.
• Home Builders Association of Virginia (HBAV)minorOthersState home builders association for industry advocacy and networking.
• Home Builders Institute (HBI)minorOthersWorkforce development arm of NAHB providing training and education resources.
• Hampton Roads Chamber of Commerce (HRCC)minorOthersRegional chamber of commerce membership for business networking and advocacy.
• Hampton Roads Association of Commercial Real Estate (HRACRE)minorOthersLocal commercial real estate industry association for networking and professional development.
• International Council of Shopping Centers (ICSC)minorOthersGlobal trade association for shopping center industry providing networking and research.
• Institute of Real Estate Management (IREM)minorOthersProfessional organization for real estate management professionals offering credentials and education.
• National Association of Home Builders (NAHB)minorOthersNational trade association for home builders and housing industry professionals.
• Coastal Virginia Building Industry Association (CVBIA)minorOthersLocal building industry association for regional advocacy and networking.
• Coastal Virginia Multifamily Housing Council (TMHC)minorOthersLocal council focused on multifamily housing industry issues and networking.
• Virginia Beach Hotel Association (VBHA)minorOthersLocal hospitality industry association for hotel-related real estate and business interests.
• Terry-Peterson ResidentialcoreStrategic or Co-development PartnerAffiliate company for residential construction projects, serving different markets with different products. Pembroke has built over 13,000 residential units through affiliations including this partner.
• Napolitano HomescoreStrategic or Co-development PartnerAffiliate residential builder for single-family homes, apartments and condominiums development. Part of the company's home building tradition continuing through affiliated builders.
• Associated DevelopmentcoreStrategic or Co-development PartnerAffiliate residential development company contributing to the 13,000+ residential units built. Part of Pembroke's residential construction network.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• S.L. Nusbaum Realty Co. Norfolk-headquartered, multi-generational full-service real estate firm operating across brokerage, property management, development, and asset management in Hampton Roads and the Mid-Atlantic. Closest direct regional comparable to Pembroke in scale, service mix, and geography.
• Divaris Real Estate: Virginia Beach-based commercial real estate services firm offering sales, leasing, property management, and investment sales across the Mid-Atlantic. Directly comparable regional peer with overlapping service lines and geography.

Regional players

• Thalhimer (Cushman & Wakefield | Thalhimer): Richmond-based full-service commercial real estate firm now operating as part of Cushman & Wakefield, providing brokerage, property management, and project services across Virginia. Overlapping service offering and Mid-Atlantic footprint, with significantly larger capital backing.
• Drucker + Falk: Mid-Atlantic and Southeast-focused property management and real estate services firm managing multifamily and commercial assets. Comparable to Pembroke's apartment and commercial property management divisions.

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm offering brokerage, valuation, property management, and project management. Competes for the same institutional landlord and tenant mandates in Virginia and North Carolina.
• CBRE: World's largest commercial real estate services and investment firm, providing transaction, advisory, and property management services. Major competitor in the Mid-Atlantic institutional and capital markets space.
• JLL (Jones Lang LaSalle): Global real estate services firm with brokerage, property management, capital markets, and valuation practices. Notable overlap as Ramsay Smith previously held a senior development role at JLL.
• Colliers International: Global commercial real estate services and investment management company with brokerage, property management, and valuation services. Competes for the same landlord, tenant, and investor mandates in the Mid-Atlantic.
• Lincoln Property Company: National multifamily and commercial property management and development firm with a large third-party management platform. Overlaps with Pembroke's apartment property management and development business lines.

Emerging players

• NAI Global / NAI Latter & Blum (regional affiliates): Network of owner-operated commercial real estate firms providing brokerage, property management, and advisory services. Several regional NAI affiliates (e.g., NAI Atlantic, NAI Carolantic) operate in Hampton Roads and the Carolinas, directly overlapping with Pembroke's core markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PembrokeCommercial
• LinkedInlinkedin.com/company/pembroke-commercial-realty-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Realty Group