 Spanish billionaire and Zara founder Amancio Ortega has agreed to shop for Royal Bank Plaza, which houses the headquarters of Royal Bank of Canada (RY.TO), the country's biggest bank, in Toronto for slot paten around 800 million euros ($916.88 million), in keeping with his private office.
Pontegadea, the family office of the most shareholder of fashion group Inditex , confirmed the deal to shop for the landmark Canadian skyscraper, famed for a series of windows with a 24-karat-gold coating, on Thursday. it had been first reported by Bloomberg News in Canada. A Royal Bank of Canada logo is seen on Bay Street within the heart of the financial district in Toronto A Royal Bank of Canada (RBC) logo is seen on Bay Street within the heart of the financial district in Toronto, January 22, 2015. MADRID, Jan 13 (Reuters) - Spanish billionaire and Zara founder Amancio Ortega has agreed to shop for Royal Bank Plaza, which houses the headquarters of Royal Bank of Canada (RY.TO), the country's biggest bank, in Toronto for around 800 million euros ($916.88 million), in line with his private office. modal receh Pontegadea, the family office of the most shareholder of fashion group Inditex , confirmed the deal to shop for the landmark Canadian skyscraper, famed for a series of windows with a 24-karat-gold coating, on Thursday. it absolutely was first reported by Bloomberg News in Canada. Current owners Oxford Properties Group and Canada retirement account Investment Board (CPPIB) hired RBC Capital Markets to explore a possible sale last September. it had been expected to fetch quite C$1 billion ($799.17 million). oyal Bank Plaza, home to leading banks, law firms and technology companies, is found within the heart of Toronto’s financial core, across the road from Union Station, Canada’s busiest transit hub, and covers some 1.5 million square feet (139,350 square metres) across its two towers. Oxford Properties failed to immediately answer a call for participation for comment. Pontegadea has focused on investing in real-estate assets and textile distribution but recently became the biggest private investor in Spain's electricity grid operator Red Electrica (REE.MC), with a 5% stake, and also bought a 49% stake during a wind park operated by Spanish energy group Repsol. Despite the pandemic and an expectation that the work-from-home trend is here for the long-standing time, demand for office space in downtown Toronto remains strong, with a 9.7% percentage within the office market within the fourth quarter of 2021, below the national average of 15.7%, consistent with CBRE data.
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