Zara's Billionaire Owner Dives into California Real Estate Market as Landlord for Walmart

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Written By Jennifer Joslyn

Zara's billionaire founder, Amancio Ortega, is further expanding his logistics network in the U.S. with the acquisition of a logistics center in Inland Empire, California, for $109 million. The center, previously owned by LBA Realty LLC, is used by Walmart Inc. This move follows Ortega's $900 million investment in U.S. logistics in 2022 through his investment vehicle, Pontegadea Inversiones SL, marking his entry into the sector.

Last month, Pontegadea acquired its first European warehouse in the Netherlands for €105 million ($115.2 million). Known for his substantial real estate investments globally, Ortega's real estate portfolio is the largest among Europe's wealthy individuals, valued at €15.3 billion as of 2021.

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Jennifer Joslyn
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