Australia’s Expanding Build-to-Rent Sector Aligns with Pembroke’s Global Diversification Strategy

Pembroke has announced the acquisition of a 2,600 sqm Build-to-Rent (BTR) development site at 155 Johnston Street in Melbourne’s trending suburb of Fitzroy. Located less than two kilometers from Pembroke’s iconic property, the T&G Building, this latest acquisition delivers on Pembroke’s diversification strategy to build a portfolio of residential, mixed-use and office properties in the world’s leading cities.

Pembroke will develop a contemporary BTR master-planned community at the 155 Johnston Street site. Known for its vibrant history and trending street culture, Fitzroy is an eclectic suburb appealing to a mix of professionals and weekenders due to its arts scene and abundance of buzz-worthy bars and restaurants, organic bakeries and designer boutiques.

Joe Fitzpatrick, Pembroke’s Regional Director for Australia said: “Addressing a chronic shortage of housing is high on the Australian Government’s agenda, and the BTR market in particular offers huge opportunity for us at Pembroke as we double down on our global diversification strategy. As global city specialists, Pembroke has a proven track record of delivering thoughtfully developed, high-quality, urban properties, and we’re thrilled to bring this expertise to the Australian residential sector. Strategically this acquisition establishes a strong foothold for Pembroke in the Australian BTR market.”

2025 is a transformative year for Pembroke as it continues to seek premium residential opportunities in key city locations to add to its global portfolio.

Jack Clark, Senior Vice President and Head of Investments at Pembroke, commented:  “The demand for high quality residential properties in the world’s leading cities continues to rise. We are well positioned to respond to help meet this demand in Australia and globally, leveraging our strong capital base which enables us to close deals all cash and finance opportunistically later.”

“We have a strong appetite for more residential development opportunities and are focused on the US, Europe and Asia Pacific, specifically in Seattle, Washington DC, Boston, London, Munich, Hamburg, Tokyo, Sydney and Melbourne.”