When Edificio España opened in 1953, the high-rise by architect Julián Otamendi qualified as Spain’s tallest building. The Neo-baroque design has 25 floors with an elevation of 384 feet overlooking Plaza de España. The Spain Building began as a luxury address for offices, a hotel and apartments. By 2007, it stood empty. Ownership of the iconic building traded hands three times in eleven years. It was purchased in 2005 by Banco Santander and then sold in 2014 at a steep discount to Dalian Wanda, a Chinese holding company. The Murcia Barka Group announced its bid in 2016. The Madrid-based real estate firm plans to convert Edificio España into a luxury hotel by 2019.