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WPC Breaks Ground on Silver Spring’s Tallest Tower

Washington Property Company (WPC) has broken ground for Solaire 8200 Dixon, a 403-unit, 26-story apartment tower in the heart of the Ripley District in downtown Silver Spring, MD. Clark Construction Company is on track to deliver the first apartments in mid-2022.

WPC has partnered with the Cresset-Diversified QOZ Fund to provide equity for the project. This fund is a joint venture between Cresset Partners and Diversified Real Estate Capital, both of Chicago, which earlier this year closed a $470-million fund to invest in real estate projects located in Qualified Opportunity Zones.

Solaire 8200 Dixon, which will be Silver Spring’s tallest tower and will include the community’s first food hall, is one of the seven projects included in the fund.

WPC also has closed a $92-million construction loan from New York City-based AXA Equitable Life Insurance Company. The project’s total development cost is $163 million.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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