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Updated: Spanish Billionaire Spends $350M on Magnificent Mile Luxury Retail Center

JV Sells 250,445-SF Michigan Ave. Retail Complex for Nearly $1,400 PSF
By Daniel J. Temblador
February 21, 2008 | 3:30 AM

Ponte Gadea Group, the U.S. investment arm for Spanish billionaire Amancio Ortega, recently acquired 730 and 750 N. Michigan Ave. in Chicago from joint venture partners for $350 million, or $1,398.50 per square foot.

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