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Zara Billionaire Ortega Bets $700 Million on US Warehouses

  • Investor purchases logistic centers in states including Texas
  • Move marks a push beyond bets on apartment buildings, offices
Amancio Ortega 

Amancio Ortega 

Source: Europa Press/Getty Images

Updated on

Zara founder Amancio Ortega has spent over $700 million in recent weeks on a series of logistics acquisitions in what’s shaping up to be one of the biggest bets yet by the Spanish textile tycoon.

Ortega’s family investment company Pontegadea bought five logistics centers in the US states of Tennessee, South Carolina, Virginia, Pennsylvania and Texas from Realty Income Corp. for about $722 million, in a deal reported by Spanish daily El Pais on Tuesday and confirmed by a Pontegadea official.