All EOS blogs All Spain blogs  Start your own blog Start your own blog 

Live News From Spain As It Happens

Keep up to date with all the latest news from Spain as it happens. The blog will be updated constantly throughout the day bringing you all the latest stories as they break.

Inditex founder ‘Amazon’s landlord’
28 March 2019 @ 13:07

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

 



Like 0




0 Comments


Only registered users can comment on this blog post. Please Sign In or Register now.




 

This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x