Ortega completes Adelphi acquisition from Blackstone

Adelphi

Blackstone has completed the sale of the Adelphi building in Covent Garden to Zara founder Amancio Ortega for around £550m.

Ortega’s investment vehicle Pontegadea emerged as the preferred bidder for the building last month, as reported in Property Week. ‎It was put on the market by Blackstone through agents Eastdil Secured and Knight Frank in April‎.

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