Spanish retail company Zara founder Amancio Ortega has purchased an Amazon Logistics Center in Dublin, Ireland for 225 million euros ($245 million), his investment firm Pontegadea confirmed. This is Ortega’s first logistics real estate investment in Ireland. The investment house did, however, buy a luxury residential building in Dublin with 120 apartments for rent for around 100 million euros.
The logistic center in question, located in Dublin’s Baldonnell Business Park, has an area of 1.2 million square feet, with approximately 630,000 square feet of the site being used by Amazon. Ortega reportedly purchased the property from property developer Mountpark.
Worth 2.2 billion euros in Inditex dividend this year, the Omega family investment house has been expanding its portfolio this year by investing in logistics centers, luxury buildings, and renewable energy projects. Still, the firm’s biggest investment purchase in the United States came in 2019, upon acquiring two Seattle office blocks leased to Amazon.