Pontegadea is negotiating the purchase of distribution centers in Wisconsin and Pennsylvania.
Spanish billionaire Omancio Ortega, the owner of the largest fashion retailer Inditex Group, continues to invest in the U.S. market. Controlled by the businessman structures are negotiating about purchase of large warehouse complexes.
According to Reutrers, citing data from Ortega's family office Pontegadea, currently in talks to buy distribution centers in Wisconsin and Pennsylvania worth $35 million and $148 million respectively.
We are talking about warehouse complexes with Amazon, FedEx, TJX, Home Depot and Nestle as tenants. In total, structures Pontegadea can invest in buying space in the U.S. market up to 900 million dollars.
Ortega's Pontegadea specializes in buying upscale commercial real estate around the world. Its portfolio includes office buildings and skyscrapers. And now the company is looking for new assets with reliable tenants who are bound by long-term leases.
It is noted that Ortega is willing to invest heavily in warehouses amid the ongoing e-commerce boom and declining investor interest in other types of commercial real estate. Earlier in the year, Pontegadea struck a deal to buy a 64-story skyscraper in Downtown New York and the Royal Bank Plaza building in Toronto.