Amancio Ortega, founder and first shareholder of Inditex, has resumed his real estate investments in the United States with the purchase of a luxury apartment tower in Chicago for 232 million dollars, some 212 million euros, according to knowledgeable sources confirmed to Europa Press. of the operation.
Ortega acquires the property from Ares Management and F
The Chicago Business newspaper says the price is the highest paid for a downtown Chicago apartment block since before the pandemic. The building has a terrace, swimming pool, gym, leisure areas, private party rooms and 24-hour reception, among others.
With this acquisition, Pontegadea continues with its real estate investments in the US after buying the Kiara Tower, a skyscraper with 461 luxury apartments in Seattle, at the end of last year, for around 305 million euros. Shortly before, in October 2022, Ortega took over another luxury apartment skyscraper in New York for around 500 million euros.
It also recently bought, in July, an automated Walmart logistics center for 98.9 million euros in California. A year earlier, he acquired his first logistics asset, a FedEx platform in Wisconsin, for around 35 million euros. The second was a distribution center in Philadelphia for about 147 million euros.
Pontegadea is currently the largest Spanish real estate company and is focused on the purchase and management of large buildings, with a portfolio of real estate assets made up of office buildings and not residential buildings located in the center of large cities in Spain, United Kingdom, United States and Asia.
Ortega's real estate assets accumulated a value of 18,156 million euros at the end of last year. Pontegadea earned 2,092 million last year after closing the year with a turnover of 2,557 million, which represents an increase of 30% compared to 2021.
