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QuadReal Property Group sold The Post, a landmark mixed-use office and retail complex in downtown Vancouver, to Pontegadea Inversiones SL, the real estate investment firm of Spanish billionaire Amancio Ortega, founder of fashion giant Zara. The transaction was valued at more than US$1.1 billion, which translates to approximately $1.55 billion based on 2025 exchange rates. This acquisition follows Pontegadea's 2022 purchase of Royal Bank Plaza in Toronto for $1.15 billion. The Post, originally constructed in 1958 as Canada Post's western processing facility, was redeveloped into a 1.1-million-square-foot complex completed in 2023, with Amazon as the primary tenant occupying the majority of office space. QuadReal will continue as the property manager. This represents the highest price on record for a single office property in Vancouver.
Parties
Company
QuadReal Property Group
Company
Pontegadea
Deal Type
Merger & AcquisitionIndustry
InfrastructureTransaction
$ 1,550,000,000Deal Status
ActiveClosing Date