Zara founder Ortega buys US warehouse for $109 million
July 14, 2023
Amancio Ortega, the founder of Zara-owner Inditex, has purchased a warehouse in Los Angeles for $109 million as part of his ongoing investment in logistics real estate in the U.S., according to his investment firm Pontegadea. The 340,120 square-foot building, currently being used as a Walmart distribution center, is located near industrial centers operated by companies like Amazon, FedEx, and Mattress Firm. This purchase follows Pontegadea’s recent acquisition of a warehouse in the Netherlands and demonstrates Ortega’s strategy to diversify his real estate portfolio beyond office and commercial properties.
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