Spanish billionaire and Zara founder Amancio Ortega has agreed to buy a landmark Canadian skyscraper for the equivalent of roughly $1.2 billion, according to his private office.
Pontegadea, the family office of the main shareholder of fashion group Inditex, on Thursday confirmed the deal to buy Toronto’s Royal Bank Plaza. The deal was first reported by Bloomberg News in Canada.
Current owners Oxford Properties Group and Canada Pension Plan Investment Board hired RBC Capital Markets to explore a potential sale last September.
A landmark in Toronto’s financial district, the downtown office complex was built in the late 1970s and is home to leading banks
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