Those limitations also could have posed complications for Griffin’s plan to relocate hundreds of employees to Miami where he’s planning to build a headquarters costing at least $1 billion.

The property portfolio owned by the Inditex SA founder was valued at €18.1 billion ($20.1 billion) in 2022, up from €15.3 billion in 2021, according to a statement Thursday from Pontegadea, the firm that manages Ortega’s fortune.

The firm offers high-net-worth investors private placement access to syndicated real estate in the multi-family space, given the increased demand for owning more direct real estate in their portfolios, said Jeff Grant, senior managing director of capital markets at Roers.

Amancio Ortega, the billionaire founder of the Zara clothing chain, is expanding his network of warehouses in the U.S. with the acquisition of a new logistics center in California.

One of Canada’s biggest pension funds bought a luxury resort in the Rocky Mountains as tourism’s recovery continues to defy predictions of an economic slowdown.

Like other investment companies, Blackstone was looking for new, and overlooked, assets.