Washington Place Equities (WPE) was borne from the vision and integrity of the Caplan family and its deep roots in real estate across the Baltimore metropolitan region as The Time Group. Since 1958, we have continuously sought out real estate investment opportunities where our equity, experience, and vision can create better communities.
Founded by the late Caswell J. Caplan in 1958, The Time Group began as a family-owned and operated company that invested in properties throughout the Baltimore region with a focus on community building and long-term success. The firm sought to buy and hold properties that offered opportunities to add value through improvements, redevelopment, refinancing, and professional management, in turn generating superior returns based on a long-term investment horizon.
In the late 1970s, Mark M. Caplan joined his father to grow The Time Group's holdings through several acquisitions. The company’s portfolio expanded beyond townhouses and small multifamily projects to larger multifamily properties with more units and manufactured housing.
Upon Caswell’s death in 1986, Mark Caplan took over as Chief Executive Officer of the Time Group and Caswell’s wife, Connie Caplan, joined the firm as Chairperson. The family partnership continued to grow its holdings and expand its footprint across Maryland, adding mixed-use, commercial, and senior living investments to its portfolio of multifamily and manufactured housing. In 1992, Leonard Frenkil, Jr., and Justine Fields joined the firm to lead the property management and financial management, respectively, for the firm’s portfolio properties.
In 2005, the firm’s principals founded, and continue to maintain an interest in, WPM Real Estate Management (formerly Washington Place Management). This separate, professional property management organization manages both The Time Group and third-party investments with a focus on customer service. Key leaders include James Dalgren, Chief Executive Officer, and Melissa Gambuto, President of Multifamily Management. Today, WPM Real Estate manages over 29,000 residences valued in excess of $5 billion in real estate, securing their status as one of the largest property managers in the Baltimore region.
In 2013, Mark formed Washington Place Equities, LLC (WPE) with a new generation of associates to expand and build on the foundation established by The Time Group, carrying on its deep and lasting commitment to residents, employees, investors, partners, and the overall community. A key part of that team is Development Director Dominic Wiker, who has been working with Mark since 2010, leveraging his extensive real estate expertise and more than 15 years of experience managing large-scale development projects. In 2022, Mark’s daughter, Eliza Caplan, joined the WPE team as an Investor and Asset Manager after completing her MBA at Columbia Business School and serving as a Portfolio Manager for Tishman Speyer.
Today, WPE continues to focus on real estate investment opportunities in the multifamily space, with added emphasis on properties with mixed-use and urban location components. It has expanded its development and acquisition projects to Delaware, Pennsylvania, and the Eastern Shore of Maryland. The firm embodies the strength, experience, and heritage of its founders and continues to embrace an investment strategy centered on value-add and redevelopment assets with significant long-term potential.
