Amancio Ortega, the billionaire founder of the Zara clothing chain, snapped up a luxury apartment building in Chicago for $232 million to add to his growing US property portfolio.
Ortega’s family office Pontegadea acquired 727 West Madison from a joint venture of Ares Management and F&F Realty, according to a company spokesperson.
The purchase adds the 45-story building to a growing roster of Ortega-owned landmark US properties including Meta Platforms Inc.’s headquarters in Seattle and Manhattan’s Haughwout Building.
Read the full story on Bloomberg here.