Zara Founder Ortega Buys Dutch Warehouse Leased to Primark for $110 Million

Spanish billionaire Amancio Ortega has purchased a logistics centre within the Netherlands presently utilized by rival British trend retailer Primark for 110 million euros ($121 million), his household workplace Pontegadea mentioned.

Ortega, the founding father of trend group Inditex, which owns Zara, purchased the 87,000-square-metre property in Roosendaal from Blackstone, actual property information web site React Information reported earlier.

The deal follows investments in logistics property in america, together with the acquisition in December of a warehouse in Florida.

Pontegadea, which isn’t linked to Inditex, owns $20.1 billion price of actual property property, primarily luxurious buildings and workplace towers, although in current months it has diversified into power and logistics property in Europe and North America.

Ortega can be the proprietor of Primark’s flagship retailer on Madrid’s Gran Through.

By Corina Pons; enhancing by Charlie Devereux and Jason Neely

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