Amancio Ortega, the founder of the fashion group Inditex, has acquired Madrid’s Torre Cepsa, located north of Paseo de la Castellana, for €490m. Oretga made the purchase through his property investment arm, Pontegadea Inmobiliaria. The 109,000 sqm property, one of the city’s most dominant skyscrapers, includes 56,250 sqm of leasable office space as well as a five-story, 37,500 sqm car park. Pontegadea Inmobiliaria reported €6.06bn in assets at the end of last year, up 8.3 percent y-o-y.
