Amancio Ortega, the billionaire founder of Zara, has acquired a Dublin logistics centre mainly used by Amazon.

Pontegadea, Ortega’s investment firm, confirmed the €225 million deal on Friday, adding that this is the first time that Ortega has invested in logistics real estate in Ireland.

The news was first reported by The Irish Times, which said that Pontegadea had bought a 1.2 million square foot industrial and logistics property in the Baldonnell Business Park. About half the site – around 630,000 square feet – are used by Amazon.

The firm in March acquired a luxury residential building in Dublin featuring 120 apartments for around €100 million.

This is not the first time that Pontegadea has acquired property primarily used by Amazon, having purchased two office blocks in Seattle leased to the company in 2019.

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