A South Florida real estate investment management group has bought the Bank of America Tower in downtown Boca Raton in an off-market transaction for $44.6 million from Black Creek Group, a real estate investment management firm based in Denver, Colorado.

Grover Corlew, headquartered in Boca Raton, bought the 109,497-square-foot tower, located at 150 East Palmetto Park Road, in the heart of the city’s central business district. The property is near the Boca Raton Resort & Club and Royal Palm Place, and is within walking distance to Mizner Park and the Brightline Station, which is expected to be completed soon.