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Pontegadea closes £550m Adelphi splash

Pontegadea, the property investment firm owned by Spanish retail billionaire and Zara owner, Amancio Ortega has completed its purchase of the Adelphi building from Blackstone for £550m
By James Buckley
August 3, 2018 | 9:52 P.M.

Ortega’s company has bought the building at 1-11 John Adam Street, WC2 after Blackstone instructed Eastdil Secured and Knight Frank to sell the building in April for around 3.75% yield.Pontegadea has been in acquisitions mode this year, most recently bidding more than £1bn for Goldman Sachs’ London headquarters before missing out to sovereign wealth fund, National Pension Service of Korea (NPS).

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News | Pontegadea closes £550m Adelphi splash