Billionaire and Zara founder Amancio Ortega invests $145 million in the trendy U.S. city: this is the monthly return it will bring him

The real estate sector remains one of the most profitable investments for Amancio Ortega, the founder of Inditex, which includes brands like Zara, Mango, and Bershka. Ortega has increased his holdings of residential towers and commercial properties in the U.S., most notably in Fort Lauderdale, Florida, with his most recent purchase being the Veneto Las Olas tower.

The Spanish billionaire purchased a 46-story skyscraper for approximately $165 million. The building contains 259 luxury apartments of various sizes, with an average price of $571,000. Rental prices range from $4,500 per month for a one-bedroom, one-bathroom unit of 88 square meters to $14,800 for two-bedroom duplexes with three bathrooms covering 191 square meters. All tenants have access to common areas, which include a gym, spa, gardens, and terraces.

With this purchase, Ortega returns to the luxury housing business.

However, his chosen destination of South Florida has another objective: to take advantage of the vast fortunes pouring into the area as construction booms, and the location, which is close to an important port, should help to support the resale value, should he choose to do away with his investment in the future.

What other real estate investments has Ortega made in the U.S.?

This is Amancio Ortega’s fourth real estate transaction in the last 60 days (after Dublin, Barcelona, and Luxembourg). But it’s not his first time in Florida. He acquired the Southeast Financial Center office tower in Miami in 2016 for $500 million. In 2015, he acquired a commercial development on Lincoln Road for $370 million, thus reaffirming his presence in one of the most active real estate markets in the United States right now.

In the United States, Amancio Ortega already acquired a residential skyscraper in Manhattan in 2022, for a price of more than $514 million , and in 2023, he acquired the West Loop tower in Chicago, paying more than $200 million.

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