About four months after going on the market, CityPlace Tower in West Palm Beach changed hands for $150 million.
KBS REIT II sold the trophy office building in West Palm Beach to an undisclosed buyer, the company announced in a written statement released on Friday. The Newport Beach, Calif.-based non-traded real estate investment trust paid $126.5 million for the 296,000-square-foot Class A tower in April 2011. Palm Beach County has not recorded the transaction. [more]