:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/I6FET4UHNNBPNB6MMOW5SH4G7U.jpg "Amancio Ortega | Zara owner buys high-rise luxury homes in Seattle | United States | WORLD")
Amancio Ortega, the billionaire founder of the clothing chain Zadaronce again invested in luxury residential real estate in United States of America with the purchase of a residential building in Seattle.
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Pontegadea, Ortega’s family office, has agreed to buy the 40-story Kiara skyscraper for $323 million, a spokesman said Thursday, confirming earlier information from El País newspaper.
This is Pontegadea’s second acquisition of luxury residential real estate in the United States, following the purchase of a property in New York this year. Traditionally, the company has focused on high-end commercial and office buildings.
Ortega receives hundreds of millions of euros in dividends each year for his 59% stake in Inditex SA, the parent company of Zara.
One of Pontegadea’s flagship investments is an office building in Seattle, where the company is a lessor to Amazon.com Inc.
In recent years, the firm has sought to diversify beyond real estate by investing in telecommunications and energy infrastructure, as well as renewable energy facilities. This year, Pontegadea also invested approximately $700 million in logistics facilities in the United States.
