Tag: Pontegadea

Real Estate Empire of Amancio Ortega Valued at €4 Bn

25/09/2014 – El Confidencial

The fair market value of the property owned by Amancio Ortega exceeds €4 billion. Specifically, the investments carried out by the Pontegadea group amounts to €4.207 billion, according to the firm’s 2013 account review.

The figure posts by 25% higher than the €3.38 billion worth assigned to the real estate a year earlier. The founder of textile giant Inditex has sealed several deals during that time, such as the purchase of the Apple Store standing on the Colon street in Valencia, of the old headquarters of Banesto on the Plaza de Cataluna square in Barcelona, as well as a building in the shopping heart of Manhattan and the Devonshire House (pictured) in London.

Independent experts realized the valuation of the property held by Pontegadea Inversiones. Although specification of the exact value in line with current fair market values is not easy, the €4.2 billion volume is being compared with the stock market value of Spain’s biggest Colonial (€1.8 billion) or Merlin Properties (€1.29 billion).

Furthermore, Pontegadea invests more and more outside of the country, showing a total of €2.536 billion in 2013, by €500 million more than in 2012. Out of this amount, €1.65 billion was spent in Europe, €801 million in America and €83 million in other locations.

The real estate empire of Mr. Ortega splits among Pontegadea Inmobiliaria, Esparelle Inmobiliaria, Pontegadea Mexico, Pontegadea France, Madeleine 10, Pontegadea USA, Hills Place, Prima Cinque and Pontegadea UK. Turnover from this area brings the businessman €200 million more each year.

What is more, Amancio Ortega is weighting up floating a part of his possession.

 

Original article: El Confidencial (by Ruth Ugalde)

Translation: AURA REE

Amancio Ortega’s Pontegadea Inversiones Gains €1.31 Bn in 2013

23/09/2014 – Expansion

Pontegadea Inversiones, the main holding company of Spain‘s richest Amancio Ortega, gained a record amount of €1.31 billion in 2013. The proceeds mostly derive from his vehicle Gartler which contributed with nearly €1.2 billion to the entire group.

Gartler is one of the companies through which Mr. Ortega controls his stake in textile giant Inditex. In total, the businessman holds 59.294%, with 50.01% of it in Gartler, purchased in December 2012. The year 2013 is the first that includes the gains brought in for Inditex by the firm.

Throughout 2013, the asset management company earned €16.9 billion, while large part of this amount (€16.7 billion) corresponded to Inditex‘s sales which improved by 8%.

The real estate arm of Pontegadea contributed with €221 million, out of which €117 million came from Spain, €75  million from America and €29 million from the rest of Europe.

Pontegadea Inversiones holds 100% of the property manager of the same name. Its portfolio contains such assets as the Torre Picasso skyscaper and the Zara store at 23 Serrano street in Madrid. This subsidary earned €87 million for the group.

Real estate investments of Pontegadea totalled at €3.83 billion, juxtaposed with the €3.34 billion amount from 2012. On rentals, the company made €170 million.

 

Original article: Expansión (by Rocío Ruiz)

Translation: AURA REE

Amancio Ortega´s Real Estate Firm Earns Staggering 163% More

21/08/2014 – El Economista

Every step of the way Amancio Ortega proves his economic strength. His property investment company Pontegadea Inversiones´s turnover showed €568 million in 2013, meaning an astonishing 163 per cent improvement if compared with the €216 million amount registered in 2012.

This firm branches down to Pontegadea Inmobiliaria and Gartler. Through the latter and another company Partler, Sr. Ortega holds 60% at Inditex. Last year, he earned €815 million in dividends from the textile giant.

At the end of 2013, the total asset volume in Pontegadea´s balance sheets reached the value of almost €4.52 million, advancing by €719 million over the previous year. The firm concluded the year with a €325 million debt.

In January 2014, Pontegadea contributed non-monetarily to its affiliate in the United Kindgom by transferring to Pontegadea UK, Ltd. all its properties located in the country.

The Spanish mother company absorbed two huge open-ended investment firms: Keblar de Inversiones and Alazán Inversiones 2001, both dissoluted without winding-up. All their property was placed on Pontegadea´s account.

Thanks to this investment arm, Amancio Ortega was able to take advantage of opportunities emerging during the recession. At the beginning of the year, the businessman disembursed €620 million in four important operations.

First, he bought Banesto´s headquarters in Barcelona for €44 million, the building of Apple in Valencia for €23 million and a shopping mall in New York for €69 million. The biggest-scale, though, was the purchase of an office building in Devonshire House, London, for the total of €450 million.

 

Original article: El Economista (by Javier Romera & Alba Brualla)

Translation: AURA REE

Jaguar Land Rover Replaces FCC in Torre Picasso

Jaguar Land Rover has announced moving its premises in Madrid. The British car producer has been looking for a new place for its main headquarters in Spain for few months. Finally, the company chose Torre Picasso, a skyscraper of Pontegadea.

By now, Jaguar Land Rover has been occupying several floors at 130 Paseo de la Castellana Street (…) in the primary zone of Madrid.

“The company wished to move to a more representative place, adequate to the brand image, without leaving the prime zome. Torre Picasso in Las Tablas was the bull´s eye” – explains Alfredo Collar, partner at Business Space of Cushman & Wakefield (C&W), the real estate consultant company that assisted at the search of new premises.

Also, Torre Titania belonging to El Corte Ingles has been taken under consideration. (…).

The Transfer

The construction company chaired by Esther Koplowitz had been the owner of Torre Picasso by the end of 2011 when it transferred the property for 400 million Euros to Pontegadea, the real estate company of Amancio Ortega. (…) The lease contract expired in December 2013.

Now Jaguar Land Rover will occupy a half of the 42nd floor (the other half is rented by E.ON. energy company), more than 1.000 square meters of space. The upper floors of the tower hosted the Presidency of FCC, including the office of Ether Koplowitz and meeting and cummunication rooms.

After the leave of FCC, the new tenant prepares itself for moving that has been scheduled for May. (…) Additionally, Jaguar rented 20 parking spaces in Torre Picasso and 33 at 79 Castellana Street, also from Pontegadea.

The amount that the automobile company will have to pay monthly will not differ significantly from the previous one as the rent in both buildings oscilates around 25 €/m2. “Jaguar Land Rover sought a place meeting its requirements of outstanding quality and location in Azca area” (…).

Source: Expansión