CityPlace gets loan extension

Ken Himmel, developer of the West Palm Beach commercial project CityPlace tower, said the Related Companies and its construction lender, Capital Trust, are wrapping up a lengthier extension that will bring the loan out another four years. Himmel said the new terms bought some breathing room and that the building is nearly 75 percent leased. New tenants totaling nearly 40,000 square feet are expected to come aboard midyear, bringing the building’s total occupancy rate to 90 percent.