WASHINGTON, DC-J Street Development Co. LLC has emerged as an individual unit from 80-year-old real estate services firm Cafritz Co. In an effort to enhance its status as a leading developer in the Washington, DC area, Cafritz decided to spin off its development division into the separate entity.

Bruce Baschuk, a real estate industry veteran who had joined in mid-2004 as the company’s new president and CEO, resigned his position to spearhead J Street. “In building the development group at Cafritz Co., it became clear to me that the development activities which I wanted to pursue required a different infrastructure and capital model than has historically been in place at the company,” Baschuk explains of the decision to separate the Cafritz’s development activities from the leasing and management activities.

Cafritz principal and chief investment officer Peter Farrell will join Baschuk at J Street, as will Peggy Crowley, Cathy Fawell and Thomas Jones.

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