Founder of Inditex, Amancio Ortega, Through Pontegadea, it acquired a second logistics entity in the United States, specifically a distribution center in Philadelphia (Pennsylvania). $148 million (approximately 147 million euros), confirmed by Europa Press in sources related to the operation.
This is the second logistics asset that Inditex’s founder has purchased in the North American country after it took over a platform occupied by the FedEx company in Menomonee Falls, Wisconsin (USA) last August. an amount of 35 million dollars (about 34 million euros).
Specifically, this second logistics assetPurchased from a subsidiary of Realty Income and leased from American department store firm TJX, it has more than 90,000 square feet of space.
Other recent operations by Inditex’s founder, announced at the end of July, were Repsol’s acquisition of a 49% stake in the ‘Kappa’ photovoltaic complex located in Manzanares (Ciudad Real) for 27 million euros. Purchase of 5% of Enagás Renovable.
The Pontegadea Group, which brings together all the holding companies owned by Amancio Ortega, subsidiaries dedicated to the real estate business and other financial conglomerates, is bringing the 2021 financial year into one. 1.606 million euro net profitThat’s more than double the 666m euros achieved a year ago.
The benefit includes the results from the sale of the Telxius tower division to American Tower in January 2021, which recorded a capital gain of approximately €331 million for the operation, according to Inditex’s founder’s investment arm.
Likewise, the Pontegadea group is planning fiscal 2021 as a 1,970 million euro turnoverThis represents an increase of 53.7% compared to fiscal 2020.
Turnover consists of dividends received from Inditex and other invested companies and income generated by the management of the group’s real estate portfolio.
Thus, 29 million from other invested companies and 647 million from the real estate business were added to the 1,294 million Euro dividend from Inditex in 2021.
The real estate portfolio of the consortium will reach 2021 for one year. Market capitalization of 15,264 million eurosCompared to EUR 14,075 million in 2020, according to independent assessments of each of the markets.
The founder of Inditex invests some of the dividends he receives from the textile company in the real estate sector through his investment company Pontegadea Inmobiliaria.
In fact, Ortega owns the largest Spanish real estate company with a portfolio of real estate assets consisting mostly of non-residential office buildings, located in the heart of major cities in Spain, the United Kingdom, the United States and Asia.
Source: Informacion
Christina Moncayo is a contributing writer for “Social Bites”. Her focus is on the gaming industry and she provides in-depth coverage of the latest news and trends in the world of gaming.