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.