Spanish billionaire pays $500 million for iconic Miami office tower

A company tied to Spanish billionaire Amancio Ortega has paid more than $500 million for the Southeast Financial Center, a 55-story office tower in the heart of downtown Miami, according to a report in the Daily Business Review.

A source with knowledge of the deal confirmed the news to the Miami Herald.

This marks the second South Florida mega-purchase for Ortega, who owns the Zara fashion brand. Last year, Ortega paid $370 million for an entire stretch of Lincoln Road in Miami Beach. Forbes lists Ortega as the world’s second-richest man with a net worth of $72.2 billion.

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