Amancio Ortega, the founder of Zara in Spain, has purchased a logistics center primarily utilized by Amazon in Dublin, Ireland, for 225 million euros (USD 244.98 million), according to his investment firm Pontegadea on Friday.

According to Pontegadea, this is the first time Ortega's firm has invested in logistics real estate in Ireland. In March, it paid roughly 100 million euros for a luxury residential building in Dublin with 120 flats for rent.

Pontegadea Inmobiliaria, the company's real estate subsidiary, completed the purchase of two Seattle office buildings leased to Amazon in 2019. It was the Spanish company's largest transaction in the United States at the time.

According to the Irish Times, Pontegadea purchased the 1.2 million square foot (111,484 square meters) commercial and logistics facility in Dublin's Baldonnell Business Park from property developer Mountpark.

Amazon occupies around 630,000 square feet of the site

The Ortega family investment organization, which received 2.2 billion euros in Inditex dividends this year, has recently expanded its portfolio by investing in logistics centers, luxury buildings, and renewable energy projects as part of a multi-asset strategy.