Announced
Financials
Sources
Tags
corporate real estate
Private
Single Bidder
Pending
Real Estate Holding and Development
office building
Acquisition
Majority
Friendly
United States
Real Estate
Cross Border
Synopsis
Pontegadea, a family office of Amancio Ortega, agreed to acquire a 40-floor Kiara skyscraper for $323m. This is Pontegadea’s second acquisition of premium residential real estate in the US. Traditionally, the firm focused on high-end office buildings and retail sites. Ortega receives hundreds of millions of euros in dividends every year for his 59% stake in Inditex, Zara's parent company.
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