Zara founder Amancio Ortega has acquired an office building in Barcelona from Blackstone for €250 million ($283 million), according to two sources familiar with the deal.
Ortega’s investment firm, Pontegadea, purchased the 28,000-square-metre property on Avenida Diagonal, which is currently leased to Spanish publishing group Planeta, according to the sources.
Neither Blackstone nor Pontegadea has publicly commented on the transaction.
Pontegadea, which manages a real estate portfolio exceeding $20 billion, has made significant investments in premium office towers and luxury properties across Europe and North America.
Pontegadea has also diversified its investment portfolio by acquiring assets in the energy and logistics sectors.
Amancio Ortega holds a 59.29% controlling stake in Inditex, the parent company of Zara, through his investment arms Pontegadea Inversiones and Partler Participaciones.
Amancio Ortega’s latest acquisition in Barcelona underscores his continued strategy of investing in premium real estate through Pontegadea. With a growing and diversified global portfolio spanning office, luxury, energy, and logistics assets, Ortega reinforces his position not just as a fashion mogul through Inditex but also as a major global real estate and investment player.
