(Bloomberg) -- Zara founder Amancio Ortega struck a deal with Blackstone Inc. to buy a warehouse in the Netherlands let to Irish fashion retailer Primark, the latest of a series of logistics-asset purchases by the Spanish billionaire.

Pontegadea Inversiones SL, his investment vehicle, paid €100 million ($110 million) to Blackstone for the distribution center located in Roosendaal, near the Belgian border, according to a spokesperson for the family office.

Primark has a ten-year lease on the 936,460 square-feet (87,000 square-meter) space, which is operated by DSV, a transport and logistics provider. 

Ortega bought his first European logistics center in the Netherlands last year for €105 million. He began buying into the logistics sector in 2022 by spending nearly $1 billion on warehouses around the US in states including California, Texas and Pennsylvania. Through its logistics centers, Pontegadea is landlord to Walmart Inc. and Amazon.com Inc.

While commercial and premium residential real estate weigh the most in his portfolio, over the years Ortega has diversified it by investing in telecom and energy assets, including a renewable energy portfolio he bought from Repsol SA in late November.

The deal was first reported by React News.

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