Spanish billionaire and Zara founder Amancio Ortega has bought a luxury residential building with 120 apartments to rent in Dublin, Ireland, for around 100 million euros ($108 million), his Pontegadea family office said on Friday. It is the first residential building that Ortega’s property company has purchased outside the United States, Pontegadea said, adding that it was part of its strategy to invest in multiple real estate assets.
The Opus 6 Hanover Quay building sits in the heart of the Silicon Docks, nickname for Dublin’s business and technology district, and offers luxury apartments and townhouses for long-term rent, according to the building’s website.
The Irish Times, which previously reported on the deal, said the price was similar to that paid by the building’s previous owners, New York investment manager Angelo Gordon and his Dublin partners Carysfort Capital. Ortega, the main shareholder of the fashion giant Inditex and one of the 30 richest businessmen in the world, has previously acquired two residential skyscrapers with luxury apartments in the US cities of New York and Seattle.
Pontegadea has focused on investing in real estate assets worldwide and energy infrastructure in Spain.
