Inditex founder ‘Amazon’s landlord’
Thursday, March 28, 2019 @ 1:07 PM
SPAIN’S richest man Amancio Ortega - founder of the global high-street clothing empire Inditex – has just bought a chunk of Amazon’s headquarters, his second-largest purchase ever after buying the London Adelphi building from Blackstone.
Ortega, who started up his huge textile business with his late wife Rosalía Mera from a small shop premises in his native Ourense, Galicia, has purchased a large share of the building used by online retailer Amazon in Seattle for US$740 million (about €655m) through the estate agency he owns, Pontegadea.
The Inditex owner’s acquisition of the Troy Block – two of the 40 towers on the Amazon campus, owned by USAA Real Estate, the property arm of the insurance company linked to the US Armed Forces – is the biggest in the city’s history, according to The Seattle Times.
Until now, the large purchase in Seattle was that of the Columbia Center for US$711m (€630m) in 2015.
Pontegadea has now made its two biggest acquisitions in Ortega’s career history in the space of one year – the first being the Adelphi Tower in London for £600m (currently €702m).
Read more at thinkSPAIN.com