Inditex founder Amancio Ortega has surpassed £1bn in investment this year after buying a logistics center in west Dublin, whose anchor tenant is Amazon. Price paid: 225 million euros. The second largest acquisition of 2023. The businessman is closing the investment circle he opened in March, when he bought an apartment in the Irish capital, a month before the end of the year. Investments made so far in 2023 1.197 million in seven operations. Last year there were 2,783 in 13 years, and in the last two years there were close to 4,000.
Amancio Ortega’s latest acquisition is a logistics complex in Dublin’s Baldonnell Business Park. 120,000 square meters and has five tenants with long-term leases; This is something Inditex’s largest shareholder always looks for when carrying out this type of operation. Amazon has the most space with 63,000. Here is located the largest logistics center in Ireland and the first of its kind in the country. It was opened in September last year. It has 500 employees. Anecdotally, the first order was a stand for a laptop and a connector for a computer monitor.
Although Ortega already has real estate assets in Ireland, this is his first logistics operation in the country and Ireland’s logistics industry’s biggest ever until now. According to The Irish Times, the warehouse was purchased from industrial property developer Mountpark.
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With this seventh acquisition, the purchases made by Ortega’s investment arm Pontegadea since January have approached 1,200 million. You have 2,308 to spend this year: 2,217 from Inditex dividends, the rest from money in your savings account. Pontegadea. Last year, Amancio Ortega had $2.798 million to invest. At the end of the year, it made a historical record payment of 2,783 in 13 operations; Among them is the headquarters of a bank with gold-plated windows; two office buildings; A skyscraper with luxury residences in the financial center of New York or seven major logistics centers in six different states of the United States.
This exercise did not stop either. It began in March with the purchase in Dublin of a building of 120 luxury rental flats in the city’s south dock area for more than 100 million. property called opus 24 one-bedroom houses, 74 two-bedroom houses and 22 three-bedroom houses, Priced at 841,666 euros each.
The second operation took place in mid-April, when it bought the BBC’s former headquarters in London for around 82 million pounds (about 93 million euros). Last June, Amancio Ortega entered European logistics – the rest of the acquisitions in this sector were in the US – While buying a ship in the Netherlands for 105 million. This third acquisition of the year is a 103,000 square meter logistics platform and is located in the Dutch town of Venlo. The facility, which is leased to the transportation and logistics company DSV until 2033, generates an annual rental income of 4.6 million.
After the first three operations on European soil, spread to the USA In July, it purchased a Walmart automatic logistics center in California for 109 million dollars (98.9 million euros). It has an area of 30,000 square meters.
He remained in the United States for his fifth move of the year. Added to real estate portfolio in August Chicago’s most iconic luxury apartment tower For 212 million. The property has 492 homes spread over 45 floors. It is the tallest building in the city.
The largest investment was made last November. It acquired a 49% stake in 618 megawatts (MW) of renewable assets distributed throughout Spain from Repsol for $363 million.
In total, he paid almost 1,200 million in seven operations. And there’s still all of December left. Last year, in the last month of the year, $300 was spent on the Kiara tower, a 40-storey skyscraper with 461 luxury apartments in Seattle (USA).
Inditex’s new record on the stock market: already worth almost 120,000 million
Inditex closed the week yesterday and opened December with a new historical record in the stock market. The price of shares exceeded 38 euros (38,310) for the first time and capitalization reached 120,000 million (119,398). If it reaches 38.50 in the coming sessions, it will achieve this.
Two weeks after reporting the results of its third fiscal quarter, the A Coruña multinational is experiencing a seemingly endless bullish run on the stock market. In November, 16 of 22 sessions resulted positively. Last month’s revaluation was 14%. If compared with the previous year, the increase in this period reaches 52 percent. So, if someone bought 100 euros worth of shares in Zara’s parent company, that share would now be worth 152 euros.
Inditex’s new record on the stock market comes two years after the company’s change of direction was announced. The departure of Pablo Isla and Entry by Marta Ortega and Óscar García Maceiras. The textile group has recently been repeating the same pattern on the stock market before announcing its quarterly results. He will do this next December 13th. An upward trend in its shares in the weeks before it opened its accounts to the public, a downward trend on the day it became known, and an upward trend thereafter.