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Wexford Plans 53-Story Tower in West Texas Oil Boomtown

Wexford Capital LP, a hedge fund with $5 billion in assets, is planning to build a $350 million office-and-condominium tower in Midland, Texas, as demand rises in a region home to the world’s second-largest oil field.

The proposed 53-story Energy Tower at City Center has begun pre-leasing its 560,177 square feet (52,042 square meter) of office space, said William Meyer, a partner at Energy Related Properties, which is working with Wexford on the project. The tower would be more than twice the height of the city’s tallest building.