Spanish billionaire and Zara founder, Amancio Ortega, has made a strategic acquisition with the purchase of a logistics center in the Netherlands for 110 million euros ($121 million). The 87,000-square-meter property, currently occupied by British fashion retailer Primark, was acquired from Blackstone, according to reports from real estate news site React News.
Ortega’s family office, Pontegadea, revealed details of this substantial investment. This move follows Ortega’s recent forays into logistics assets in the United States, including the acquisition of a warehouse in Florida in December.
Pontegadea, distinct from Inditex, the parent company of Zara, manages a real estate portfolio valued at $20.1 billion. Predominantly consisting of luxury buildings and office towers, the family office has recently diversified its holdings, expanding into energy and logistics assets across Europe and North America.
It’s noteworthy that Amancio Ortega is also the owner of Primark’s flagship store on Madrid’s Gran Via, showcasing his significant influence across various segments of the fashion and retail industry.
In the midst of strategic investments, Ortega continues to shape the real estate and retail landscape, solidifying his prominent role in the global business arena.
