Amancio Ortega founded one of the world’s largest textile multinationals: Inditex. The Dividends of this empireits founder has created Pontegadea: a International Real Empire with assets valued at more than 20,000 million dollars. However, according to The published by Digital economyin recent months the real estate arm of the Spanish millionaire has carried out two very unusual operations: sell two buildings.
A rental -based strategy. Pontegadea has become the Major Inmobiliaria de España for the value of its assets. Its portfolio has been built by investing the annual dividends that Amancio Ortega receives for his inditex actions, which gives him a strategic advantage with respect to his competence because every year he receives a millmillionaire injection of capital to invest without issuing debt.
The buildings that has been buying Amancio Ortega’s investment arm have a very diverse use: high -end apartments, strategic commercial premises, office buildings, hotels, Logistic centersetc. However, they all have something in common: solvent tenants who already pay their income even before Amancio is interested in it. That is, unlike other real estate companies, the Pontegadea business is not the sale of real estate, but the Purchase and long -term rental of its properties.
It is not usual to sell. The Amancio Ortega real estate business has surprised in recent months with an unusual decision. However, Pontegadea has chosen to get rid of two outstanding buildings in just under six months. The objective of these divestments has been to avoid expensive Reform works that the properties required.
One of the properties was actually divided into two buildings, and was used, for more than 20 years and until the end of 2024, as one of the headquarters of the Bank of France in Paris. The offices occupied an area of 6,724 square meters, but after the exit of the banking entity it needed a deep reform. That has made the investment group choose it for an amount of 80 million and recover the surplus value.
The key: ensure profitability, minimize expenses. More paradoxical is the Sale of the second asset. It is an office building of 15 plants in Manhattan that has recently been put up for sale for the same reason as Paris: I needed A deep rehabilitation Before rented again. However, in this case the sale has been announced for a price of 50 million dollars, which represents 57% less of the 115.5 million dollars that the investment fund paid in 2006 for the property.
The sale of these two buildings responds to a strategy mainly oriented to maximize profitability by obtaining an immediate investment return through rentals, avoiding large update expenses in old real estate. Pontegadea usually operates under the principle of maintaining almost the entire portfolio occupied with Tenants of maximum solvency. Assets sales, especially those that imply a devaluation of their purchase price, are very anecdotal.
The expansion does not stop. Despite these sales, Pontegadea investments have not stopped in recent months. Among the latest acquisitions, the purchase of an offices building in Paris, which will go to house the group’s offices in the neighboring country, and reinforces its presence in Europe.
In addition, Pontegadea He bought recently A 163 -room hotel in Amsterdam for 85 million euros, and a logistics distribution center in the nearby city of Hofddorp for about 145 million euros.
In Xataka | Amancio Ortega: the billionaire who lives as one more neighbor. Except for private jets and superyates
Image | Gtres, Flickr (Daquella way)
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