Amancio Ortega Expands Real Estate Empire with €250 Million Acquisition in Barcelona
Pontegadea Inversiones purchases Planeta Group headquarters from Blackstone in a significant investment move.
Pontegadea Inversiones, the investment arm of Amancio Ortega, founder and majority shareholder of Inditex, has acquired the current headquarters of Planeta Group located on Avenida Diagonal in Barcelona from Blackstone.
The transaction, valued at approximately €250 million, stands as one of the largest real estate investment deals of the year in Barcelona, as reported by local media and confirmed by sources close to the operation.
Blackstone had owned the property since 2018, and it had been for sale since early 2023. This acquisition marks Pontegadea's most substantial real estate transaction in Spain since 2016, when it purchased the Torre Cepsa skyscraper in Madrid for €490 million.
Planeta occupies more than 50% of the building's total area of 27,300 square meters, notable for its distinctive vertical garden façade.
Historically, the building also served as the headquarters for Banca Catalana until its dissolution in 1980.
Amancio Ortega's portfolio comprises 120 assets across 13 countries, valued at over €20 billion, according to estimates by regional media.
This investment strategy positions Ortega as the second wealthiest individual in Europe and ninth worldwide, as per Forbes, with an estimated net worth of $124 billion (€114.9 billion).
Ortega’s business model primarily focuses on acquiring and managing non-residential properties, mainly office spaces located in major city centers around the globe.
His diverse portfolio includes hotels, logistics warehouses, residential blocks, and shopping centers in countries such as Spain, the United States, France, Canada, and South Korea.
The transaction, valued at approximately €250 million, stands as one of the largest real estate investment deals of the year in Barcelona, as reported by local media and confirmed by sources close to the operation.
Blackstone had owned the property since 2018, and it had been for sale since early 2023. This acquisition marks Pontegadea's most substantial real estate transaction in Spain since 2016, when it purchased the Torre Cepsa skyscraper in Madrid for €490 million.
Planeta occupies more than 50% of the building's total area of 27,300 square meters, notable for its distinctive vertical garden façade.
Historically, the building also served as the headquarters for Banca Catalana until its dissolution in 1980.
Amancio Ortega's portfolio comprises 120 assets across 13 countries, valued at over €20 billion, according to estimates by regional media.
This investment strategy positions Ortega as the second wealthiest individual in Europe and ninth worldwide, as per Forbes, with an estimated net worth of $124 billion (€114.9 billion).
Ortega’s business model primarily focuses on acquiring and managing non-residential properties, mainly office spaces located in major city centers around the globe.
His diverse portfolio includes hotels, logistics warehouses, residential blocks, and shopping centers in countries such as Spain, the United States, France, Canada, and South Korea.
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