Amancio Ortega, known as the second richest man in the world, has closed on the purchase of Miami’s largest office building, the Southeast Financial Center, in a $516.6 million deal. Located at 200 South Biscayne Boulevard, the 55 story tower has has 1.2 million square feet of leasable space. Built in 1981, the building has ground-floor retail space, a gym parking for 1,200 cars and was 84 percent leased at the time of the sale. The asset was valued at $365 million at the time of its last sale in 2008, when JPMorgan paid $182.5 million for a 50 percent stake. The deal marks the largest real estate transaction in South Florida so far in 2016.
