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Cushman & Wakefield Arranges Programmatic Joint Venture Between SJC Ventures and a Global Life Insurance Company

Elise Maguire Ferrara • 10/7/2025

$1 Billion Venture will Target Ground-Up Organic Grocer-Anchored Retail Projects and Adjacent Multifamily Developments Along the East Coast 

NEW YORK – Oct. 7, 2025 – As exclusive agent for SJC Ventures (“SJC”), Cushman & Wakefield procured a global insurance company as a programmatic joint venture equity partner to develop a pipeline of ground-up organic grocer-anchored retail centers and adjacent luxury multifamily developments along the East Coast. SJC has multiple sites in pre-development with executed anchor leases in place. The venture has closed on three seed projects which will consist of 197,000 square feet of retail across two shopping centers and a 341-unit multifamily building. The program will kick off with an initial $300 million equity tranche. The initial tranche will support the development pipeline, which totals nearly $1 billion in projected capitalization.  

Cushman & Wakefield’s Equity, Debt & Structured Finance team of John Alascio, Alex Hernandez, Aaron Graves and Mitch Rothstein, along with Mark Gilbert, the company’s Retail Capital Markets Head, advised SJC Ventures in the formation of the program.

All projects in the immediate pipeline are highlighted by the integration of institutional-quality grocery-anchored retail experiences with luxury residential communities. Project locations will target affluent markets with strong tenant appeal and economic resilience. The following deals have closed: 

  • In Wyomissing, Pennsylvania, the Cushman & Wakefield team arranged a $44 Million floating-rate construction loan, provided by Truist, for the Shops at Broadcasting District, a 121,602-square-foot Whole Foods-anchored retail development. The team also arranged a Truist-provided $69 Million loan for the construction of the adjacent Residences at Broadcasting District, which will include 341 luxury multifamily units. 

  • In Wesley Chapel, Florida, Seacoast Bank provided a $30 million floating-rate loan for the construction of Wesley Chapel Station, another Whole Foods-anchored shopping center that will offer 76,000 square feet of retail. 

“This venture represents a major milestone within SJC’s strategy to blend high-quality grocery-anchored retail with well-positioned multifamily developments in strategically selected markets. The first three projects under this initiative have closed in Pennsylvania and Florida. Our team is also involved in the capitalization of pending additional developments in Florida, Georgia, Maryland and Virginia,” shared Alascio.  

Gilbert added, “SJC has a proven track record, having developed numerous premier grocery-anchored projects, backed by a +20-year relationship with a dominant organic grocer anchor. With this new complementary partner, the venture is uniquely positioned to deliver exceptional value and capitalize on market trends that prioritize community-centric retail and residential integration.” 

SJC Principal Fain Hicks said “We are delighted to embark on this program with such an extraordinary partner. With this venture, we will continue our long track record of serving our valued tenant partners, all other stakeholders, and delivering projects that energize and enhance communities. Along with my partners, Jeff Dehart and Jeff Garrison, we'd like to express our gratitude and appreciation for the entire SJC team and the tremendous effort from many others who contributed to this exciting initiative.”

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture.  For additional information, visit www.cushmanwakefield.com.

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