The founder of Inditex, Amancio Ortega, has bought the building at Gran Vía 32, Madrid, currently being rehabilitated to house the largest store Primark in Spain and also has other tenants such as H & M, Mango and Lefties, belonging to the Galician giant.
This building, which has a gross floor area de36.376 square meters, is divided into nine floors of both offices, including studies Cadena Ser, and shops are located.


Ortega, who has performed the operation through its investment company Pontegadea and the amount has not transcended, has purchased the property to the consortium PSP, APG, Phoenix Group and Sun Capital, led by Drago Capital, as reported by such signature property management.
Despite the amount of the transaction, real estate industry sources consulted by Europa Press have pointed out that signing Drago Capital, which was a partner until two years Oleguer Pujol ago, one of the sons of Jordi Pujol, not having revealed it would have marked the starting price of sale of the property at 400 million euros.


Specifically, Drago Capital has closed the sale of the building owned by the company Longshore, owned 50% by PSP Investments, the public pension fund in the armed forces of Canada and one of the largest pension fund managers in this country and minority by the current management team of Drago Capital, a company that manages the assets.


The remaining 50% is owned by the unit trust Drago Real Estate Partners, with the participation of companies like the Dutch APG, the largest European pension fund, the British insurance group Phoenix Group or the British investment firm Sun Capital Partners Ltd.
The project undertaken by Drago Capital has given splendor to building designed in 1924 by architect Teodoro de Anasagasti, as the recovery of commercial use allow revitalize the area as a major commercial arteries of Madrid, help restore the adjacent streets and will boost the economy of the area.


Longshore and Drago Capital have been advised on the sale by Cushman & Wakefield and Gómez-Acebo & Pombo, while the Pontegadea Group received advice deAguirre & Newman and Broseta lawyers.


Thus, Amancio Ortega continues to strengthen its investments in 'brick' in Spain after acquiring relevant properties in Madrid, Barcelona and Valencia. This is the second real estate transaction that takes place in so far this year, after earlier this year became the owner of the property albrega the headquarters of the multinational mining company Rio Tinto in London for 335 million euros.


The founder of Inditex remains the first fortune in Spain with a capital of 46,000 million euros, followed by the largest shareholders of Ferrovial, Rafael del Pino and brothers, amounting to second place at the expense of the president of Mercadona, Juan Roig, that falls to third place and complete the podium of the three richest Spanish, according to national list first performed by Forbes Magazine.

 

 

 

 

 

 

 

 

 

 


Read more on: http://www.elmundo.es/economia/2015/01/26/54c62bdf22601d2d498b4596.html