Amancio Ortega, founder of Inditex, through Pontegadea, expanded his North American footprint with the acquisition of a second logistics asset in the United States. The purchase, valued at 148 million dollars (roughly 147 million euros), was disclosed by Europa Press citing sources tied to the deal and confirms Pontegadea’s growing portfolio of strategic real estate and logistics holdings in the United States.
This marks the second logistics facility in the United States acquired by Ortega’s investment arm after a prior acquisition last August. That earlier asset involved a platform previously occupied by FedEx in Menomonee Falls, Wisconsin, for an amount around 35 million dollars (about 34 million euros).
The newly acquired asset was purchased from a Realty Income subsidiary and is leased to a major American department store group, TJX. The facility spans more than 90,000 square feet, adding a significant distribution capacity to Pontegadea’s assets in North America.
Earlier in the year, additional moves by Ortega’s investment group were announced, including Repsol’s purchase of a 49 percent stake in a large photovoltaic complex in Manzanares, Ciudad Real, for 27 million euros, and the acquisition of a 5 percent stake in Enagás Renovable. These transactions illustrate Pontegadea’s active diversification across energy and infrastructure sectors alongside real estate.
The Pontegadea Group, the umbrella for all of Amancio Ortega’s holding companies, continues to consolidate its 2021 financial year with a net profit of 1.606 billion euros, more than double the 666 million euros achieved in the previous year. This profitability reflects gains from strategic asset sales, including the Telxius tower division, which was sold to American Tower in January 2021 for a capital gain of around 331 million euros, according to the investment arm’s reporting.
Looking ahead, Pontegadea projects a 2021 turnover of approximately 1.970 billion euros, representing a 53.7 percent rise from 2020. Revenue for the year is composed of dividends from Inditex and other invested entities, alongside income generated by managing the group’s real estate portfolio.
In 2021, Pontegadea added 29 million euros from other invested companies and 647 million euros from the real estate business to the 1.294 billion euros of dividends received from Inditex. The group’s real estate portfolio continued to expand, reaching a market capitalization of around 15.264 billion euros in 2021, up from 14.075 billion euros in 2020, based on independent market appraisals for each asset category.
Amancio Ortega reinvests portions of the dividends obtained from the textile company into real estate ventures through Pontegadea Inmobiliaria. This approach has positioned Ortega as the owner of one of Spain’s largest real estate portfolios, dominated by non-residential office properties located in major urban centers across Spain, the United Kingdom, the United States, and Asia, reflecting a diversified, cross-border investment strategy.