Intidex owner buys luxury apartment in Dublin

Amancio Ortega, the founder of Zara and a billionaire from Spain, has purchased a high-end apartment building in Dublin, Ireland, containing 120 units for rental purposes. The transaction, which amounts to roughly 100 million euros ($108 million), was announced last week by Ortega’s private company, Pontegadea. This acquisition marks the first time that Ortega’s firm has purchased a residential property outside of the United States, and it is part of the company’s plan to invest in various real estate assets.

The website for the Opus 6 Hanover Quay structure indicates that the building is located in the heart of Silicon Docks, the moniker given to Dublin’s business and technology hub, and provides upscale townhouses and apartments for extended lease periods.

According to an earlier report by The Irish Times, the transaction price was comparable to the amount paid by the former owners of the building, who were a partnership between Dublin-based Carysfort Capital and New York’s Angelo Gordon investment management firm.

Amancio Ortega, a major shareholder in the fashion empire Inditex and a member of the world’s top 30 richest entrepreneurs, has previously bought two high-rise residential buildings with deluxe apartments in New York City and Seattle. Pontegadea has prioritized investing in Spain’s energy infrastructure and on acquiring real estate assets worldwide.

The Spanish entrepreneur has acquired another property named Opus, which comprises of 24 one-bedroom, 74 two-bedroom and 22 three-bedroom apartments, each priced at 841,666 euros. According to The Irish Times, Ortega purchased the property from Carysfort Capital and Angelo Gordon, who were the local partners.

As reported by La Información, it was revealed earlier this month that Ortega was in talks to purchase the former BBC headquarters in London for nearly 90 million euros. However, it has now been confirmed that the acquisition deal has been concluded in the Irish capital.

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Intidex owner buys luxury apartment in Dublin

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