Zara founder Ortega buys Florida warehouse for $113 million
Tweet
Share
E-mail
FILE PHOTO: Inditex founder Amancio Ortega attends the C.S.I Casas Novas international show jumping contest in the Spanish northwestern town of A Coruna July 30, 2017. REUTERS/Miguel Vidal/File Photo
MADRID (Reuters) - Amancio Ortega, the founder of Zara owner Inditex, has increased his bet on logistics real estate in the United States with the acquisition of a warehouse in Hialeah, Florida, for $113 million, his investment firm Pontegadea said on Wednesday.
The billionaire, who controls the fashion group Inditex, bought the 266,600 square-metre (2.87 million square feet) cold storage warehouse in the Miami area, Pontegadea said.
Pontegadea, which is not connected to Inditex, owns $20.08 billion worth of real estate assets mainly in luxury buildings and office towers, though over the past months it has diversified into logistics assets in Europe and in North America.
The investment vehicle, which received 2.2 billion euros in Inditex dividends this year, has been looking into energy assets, such as solar plants, electricity grids and wind farms, for the past couple of years after mainly focusing on real estate.
(Reporting by Corina Pons, writing by Inti Landauro. Editing by Jane Merriman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DeFi Development Corp. plans $20M preferred stock offering
- North Korea and US show signs of resuming dialogue, South Korean lawmaker says
- Americold closes $1.3B cold storage joint venture with EQT
Create E-mail Alert Related Categories
ReutersRelated Entities
Merriman Curhan Ford, Dividend, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
