Amancio Ortega closes on Brickell tower for $274M –– biggest South Florida office deal this year

Spanish billionaire Amancio Ortega completed his $274.4 million purchase of Sabadell Financial Center in Brickell, marking the biggest office deal in South Florida so far this year.  Ortega’s Ponte Gadea investment family office bought the 30-story tower at 1111 Brickell Avenue in Miami from New York-based KKR and Orlando-based Parkway, according to records and real estate database Vizzda. Ponte Gadea did not record a mortgage, signifying this was likely a cash deal.  Chris Lee and Sean Kelly of CBRE represented the sellers.  The 524,000-square-foot Sabadell Financial Center was completed in 2000 on a 1.8-acre lot, as part of a larger […]This article originally appeared on The Real Deal. Click here to read the full story.