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Zara’s founder wants to buy magazines for over $900 billion

Zara's founder wants to buy magazines for over $900 billion

Spanish billionaire Amancio Ortega, shareholder and founder of global fashion giant Inditex, is among them. The Zara chain is in talks to buy warehouses in the US. The value of the transaction is 905 billion dollars.

  • Amancio Ortega is in talks to buy US warehouses for $905 billion.
  • Warehouses are leased by giants like Amazon and FedEx.
  • This is Ortega’s other contract in the US this year.

Spanish billionaire Amancio Ortega, shareholder and founder of global fashion giant Inditex, is among them. Zara is in talks to buy several warehouses in the U.S., after Ortega’s investment office, Pontegadia, said.

This isn’t the first transaction of its kind — in recent months, Ortega bought two other distribution centers in the U.S. in Wisconsin and Pennsylvania for $35 million and $148 million.

Spanish newspaper El Pais, which announced the deal on Tuesday, noted that the properties are strategically located and have been leased on long-term contracts to companies such as Amazon, FedEx, DJSK, Home Depot and Nestlé.

Having invested most of its assets in real estate such as skyscrapers and office buildings around the world, Pontegadea said it is now looking for more profitable properties with medium and long-term leases with solid tenants. US warehouses meet these criteria.

Reuters agency recalls that in early 2022, the investment company Ortega bought a skyscraper in New York’s financial district and the Royal Bank Plaza building in Toronto.

Amancio Ortega is one of the 30 richest entrepreneurs in the world. He recently invested in Spanish energy infrastructure.

Warehouses, logistics facilities, production and warehouse buildings and investment areas – see offers on PropertyStock.pl

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