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Inditex founder Amancio Ortega bought a skyscaper in Toronto for $ 916 million

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FILE PHOTO: The Royal Bank of Canada (RBC) logo is displayed on Bay Street, downtown Financial District, January 22, 2015. / Mark Blinch / File photo

MADRID () – Spanish billionaire and Zara founder Amancio Ortega has agreed to buy a skyscraper in Canada for about 800 million euros ($ 916.88 million), according to his private office.

The family office of Pontegadea, a major shareholder in the Inditex fashion group, on Thursday confirmed a deal to buy the Toronto Royal Bank Plaza, first reported by Canada News.

The current owners, Oxford Properties Group and the Canada Pension Plan Investment Board (CPPIB), hired RBC Capital Markets last September to explore potential sales.

A landmark in Toronto’s financial district, the downtown office complex is home to leading banks, law firms and technology companies and occupies about 1.5 million square feet across its two towers.

Oxford Properties did not immediately respond to a request for comment.

Pontegadea has focused on investing in real estate assets and textile distribution, but recently became the largest private investor with a 5% stake in Spain’s Red Electrica power grid operator, as well as a 49% stake in a Spanish power group-controlled wind farm. bought a stake. Repsol.

(1 dollar = 0.8725 euros)

Corina Pons report; Edited by Nathan Allen, Kirsten Donovan

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