The Diplomat
The founder and main shareholder of Inditext, Amancio Ortega, through his investment arm Pontegadea, resumes his real estate investments in the United States after buying a flat tower in Chicago for 232 million dollars (some 212 million euros), as confirmed to Europa Press by sources familiar with the transaction.
Specifically, the founder of Inditex has acquired this luxury flat property from Ares Management and F&F Realty, which has 492 flats spread over 45 floors, according to The Real Deal. It also states that it is the tallest building in Chicago west of the Kennedy Expressway.
This acquisition in the West Loop is the highest price paid for a flat block in downtown Chicago since before the pandemic, according to Chicago Business.
In this way, Pontegadea continues with its real estate investments in the United States after buying at the end of last year the Kiara Tower, a skyscraper of 461 luxury homes in Seattle for 324 million dollars (about 305 million euros).
In October 2022, Ortega closed the purchase of a skyscraper of luxury flats in New York for about 500 million dollars, for which he paid around 505 million euros.
In addition to these assets, Ortega acquired other logistics assets in the United States, such as an automated Walmart logistics centre in California (United States) last July for 109 million dollars (98.9 million euros).
The purchase of this logistics centre in California came a year after the founder of Zara made his first foray into logistics with the purchase of a FedEx platform in Wisconsin (United States) for around 825 million euros and a second logistics asset, specifically a distribution centre in Philadelphia (Pennsylvania), for around 147 million euros.
