Complex sentence: Spanish sculptor and painter Angel Orensanz purchased the property in 1986, restored it, and converted it into an art gallery and performance space, the "Angel Orensanz Foundation Center for the Arts".
Split into simpler sentences: Spanish sculptor and painter Angel Orensanz purchased the property in 1986. He restored it, and converted it into an art gallery and performance space known as the "Angel Orensanz Foundation Center for the Arts".