Zara Billionaire Ortega to Buy Toronto’s Royal Bank Plaza from Canadian Pension Plans

Posted on 01/13/2022

Amancio Ortega is the billionaire of the Zara clothing chain. Amancio Ortega agreed to buy Toronto’s Royal Bank Plaza skyscraper from two large Canadian pension funds for about C$ 1.2 billion. The skyscraper is being sold by Oxford Properties (real estate unit of Ontario Municipal Employees Retirement System) and Canada Pension Plan Investment Board. Oxford Properties Group and Canada Pension Plan Investment Board hired RBC Capital Markets to explore a potential sale in September 2021. The Ortega family manages its wealth through its single family office Pontegadea Investments SL.

Keywords: Pontegadea Inversiones.

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