Amancio Ortega expands his real estate empire and acquires the Royal Bank Plaza in Toronto
Add and follow for the founder and largest shareholder of Inditex (Zara) Amancio Ortega who, through his real estate Pontegadea, already gathers a real real estate empire. According to Bloomberg, the businessman has acquired the Royal Bank Plaza in Toronto (Canada) for an amount of 838.5 million euros (about 961 million dollars and 1,200 million Canadian dollars) to two local pension funds.
With this movement Amancio Ortega became the landlord of the Royal Bank of Canada, whose corporate headquarters are located in this skyscraper located in the heart of the financial capital of Canada. A transaction that happens to be the largest in the country since the pandemic began.
The sale has been carried out by Oxford Properties, the real estate arm of the Ontario Pension Fund fund, and the Canada Pension Plan.
A representative from Pontegadea has confirmed the transaction to Bloomberg. According to this medium, the aforementioned funds put this property up for sale last year for at least 1 billion Canadian dollars.