Tue. Nov 19th, 2019

Amancio Ortega becomes the landlord of Facebook when buying his offices

The founder of Inditex, Amancio Ortega, the richest person in Spain, will become the landlord of Facebook after buying two office buildings in Seattle in an operation valued at about 415 million dollars (about 375 million euros), according to the US specialized press.

Specifically, the Galician businessman, through his investment firm Pontegadea Real Estate, continues with the purchase of assets in the United States by acquiring both properties, which are part of the Arbor Blocks complex, from the developer Vulcan Real Estate.

In this way, Ortega becomes home of another American multinational after last March closed the purchase of part of the Amazon headquarters in Seattle, in an operation finally valued at 740 million dollars (669 million euros).

Mark Zuckerberg, president of Facebok

Mark Zuckerberg, president of Facebok
(Erin Scott / Reuters)

In fact, this operation continues to be its largest purchase in the United States and the second largest in its history, after the one made in the summer of 2018 in London.

The purchase of the two office buildings in Seattle, whose tenant is Facebook, is known the same week in which the founder and first shareholder of Inditex has entered 813.1 million euros as dividends for the textile company, the last Remuneration of the year to be paid by the Galician firm to its shareholders.

Specifically, Ortega has received almost 1,630 million euros in dividends this year through the companies Pontegadea Inversiones and Partler, with which it controls 59.294% of Inditex's shareholders, compared to 1,386 million that it received for the same concept in 2018 .


A real estate empire

The founder of Inditex invests part of the dividends you receive from the textile company in the real estate sector through your investment firm Pontegadea Inmobiliaria. Ortega owns the largest Spanish real estate agency, focused on the sale and purchase of large buildings, with a portfolio of real estate assets consisting mainly of office buildings, not residential, located in the center of large cities in Spain, the United Kingdom, the United States and Asia .

In fact, Ortega closed 2018 with a real estate portfolio valued at 9,767 million euros, which represents an increase of 11.5% over the previous year, grouped in its company Pontegadea Inversiones, which has a net worth of 23,493 million euros , over 21,006 million euros a year earlier.

Customers with a Zara bag in a London store

Customers with a Zara bag in a London store
(Hollie Adams / Bloomberg)

At year-end 2018, Pontegadea Inversiones accounted for assets of various kinds amounting to 31,762 million euros, representing an increase of 9.4% compared to 29,028 million euros recorded in 2017.

The equity company of Ortega, which remains the first fortune of Spain, with a capital of more than 63,000 million euros, recorded an attributed profit of 1,817 million euros in 2018, 23% more than the previous year, which closed with profits of 1,475 million euros.

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