When cash is king: Inside Spanish billionaire Amancio Ortega’s South Florida investments
Spanish billionaire Amancio Ortega is on a global summer shopping spree, making a splash in South Florida. Ortega’s Ponte Gadea real estate investment family office is buying the 30-story Sabadell Financial Center in Miami’s Brickell for about $275 million, and also bought the 44-story, 259-unit Veneto Las Olas apartment tower in downtown Fort Lauderdale for $165 million last month. Ortega is best known as a retail powerhouse, founding fast fashion retailer Zara. Forbes pegs his net worth at $115 billion, making him the 13th richest person worldwide. For decades, Ponte Gadea has reinvested Ortega’s dividends from his vast retail holdings […]This article originally appeared on The Real Deal. Click here to read the full story.
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