By
Bloomberg
Printed
July 14, 2025
Amancio Ortega, the billionaire founding father of the Zara clothes chain, is in talks to purchase an workplace constructing in Miami for €235 million ($275 million).
Pontegadea eyes Miami constructing in Ortega’s newest US deal – Bloomberg
Ortega’s household workplace, Pontegadea, is in superior discussions to accumulate the Sabadell Monetary Heart, situated on Brickell Avenue, from KKR & Co. and Parkway, in response to a spokesperson for the Spanish agency. The spokesperson confirmed earlier reviews by actual property publication The Actual Deal, including that the deal has not but been finalized.
If the transaction proceeds, it’s going to mark Pontegadea’s second main deal in Florida this yr, following its buy of an condo constructing in Fort Lauderdale for roughly €165 million. The household workplace has additionally acquired properties in Barcelona and Paris this yr. Final week, Pontegadea confirmed it had acquired Lodge Banke within the French capital.
Most of Pontegadea’s revenue is derived from Ortega’s 59% stake in Inditex SA, the Spanish clothes group that owns Zara and different manufacturers, together with Massimo Dutti. Pontegadea reinvests its dividends from Inditex primarily in actual property, but in addition in telecommunications and power infrastructure.
The corporate usually targets high-end buildings in prime city areas, primarily throughout Western Europe, Canada and america. Transactions are sometimes performed in money.
Inditex has a market valuation of €134 billion, and its headquarters are situated within the northwestern Spanish metropolis of A Coruña, the place Ortega resides. His daughter, Marta Ortega, serves as chair of the corporate.
Ortega, 89, is ready to obtain €3.1 billion in dividends from Inditex this yr.
