Amancio Ortega’s family office Pontegadea Inversiones reportedly paid $400 million for the Burnaby, B.C., facility, which totals nearly one million square feet. (CoStar)
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Amancio Ortega’s family office Pontegadea Inversiones reportedly paid $400 million for the Burnaby, B.C., facility, which totals nearly one million square feet. (CoStar)
Talking point: Ortega’s firm already has a portfolio of logistics properties that includes a Netherlands-based facility used by retailer Primark and a California-based Walmart warehouse. He already owned properties used by Amazon prior to this deal. Ortega started buying up logistics facilities in 2022, primarily in the U.S., and expanded into Europe in 2023. The fast-fashion magnate is the world’s 15th richest person, according to Bloomberg, with a fortune worth US$85.4 billion. Amazon has been growing its Canadian footprint with its distribution facilities set to surpass 28 million sq. ft. this year.
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