The real-estate company of Amancio Ortega purchase skyscraper in Madrid – source – Investing.com Spain

MADRID (Reuters) – Pontegadea, the real-estate company tycoon Spanish Amancio Ortega, the major shareholder of the group Inditex (MC:) has bought a high-rise building destined to offices in Madrid by 490 million euros, said on Friday, a source knowledgeable of the operation.

The investor group, which accumulated real estate valued at more than 6,000 million euros at the end of 2015, acquired the active Muscari Property, a holding company of sheikh Khadem Al Qubaisi, who had a purchase option on the property owned by Bankia (MK:).

“Pontegadea has purchased the building for about 490 million euros,” said the source who requested anonymity.

A spokesman for Pontegadea not made comments to the information.

The tower, almost 250 meters high and 49 plants, is leased to the oil company Cepsa, owned by the fund from Abu Dhabi’s IPIC.

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