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Investing.com -- Amancio Ortega, the founder of Zara, has purchased an office building in Barcelona from Blackstone (NYSE:BX) for 250 million euros ($283 million), according to a Reuters report on Friday. The deal was finalized on today, on May 30th.
The office building, spanning 28,000 square meters and located on Avenida Diagonal, is currently leased by the Spanish editorial company Planeta. Ortega made the acquisition through his investment entity, Pontegadea. Both Pontegadea and Blackstone have not issued any comments regarding the transaction.
Pontegadea, which holds over $20 billion in real estate assets, has a history of investing in office towers and luxury buildings across Europe and North America. The company has also diversified its portfolio by investing in energy and logistics assets.
Ortega maintains control of 59.29% of Inditex (BME:ITX), the parent company of Zara, through Pontegadea Inversiones and Partler Participaciones.
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