Related Companies completed the acquisition of CityPlace Tower from W. R. Berkley-backed CPT Equity for $175m.

Related Companies, an American privately owned real estate firm, completed the acquisition of CityPlace Tower from CPT Equity, an affiliate of W. R. Berkley, for $175m. The purchase is another sign that Related Companies is confident in the downtown West Palm Beach office market. Over the past year, the area has caught the attention of tech firms seeking to relocate or expand to South Florida.