Zara Founder Ortega in Talks to Buy $275 Million Miami Building

Amancio Ortega, the billionaire founder of the Zara clothing chain, is in talks to buy an office building in Miami for €235 million ($275 million).

Ortega’s family office Pontegadea is in talks to buy the Sabadell Financial Center located in Brickell Avenue from KKR & Co. and Parkway, according to a spokesperson for the Spanish firm, confirming earlier reports by real estate publication The Real Deal. While the talks are advanced, the deal hasn’t been completed yet, the person said.

Sabadell Financial Center, Miami.

Source: Google Maps

If the transaction goes ahead it will be the second major deal that Pontegadea does in Florida ...