Tuesday, December 06, 2022

The Losantos family buys three Amazon Logistics warehouses in the US for 115 million

family losantosthrough its parent company Māori European Holding, has been reinforced as the landowner of Amazon in the United States. The real estate company has acquired three new logistics platforms operated by the e-commerce giant in Chula Vista and Palmdale (both in California) and Iowa, as confirmed by the company itself. In this way, it increases its presence in the US market, which it anticipates reach 450 million euros Invested in ships at the end of the year.

Māori have invested $118 million (116.5 million euros at current exchange rates) in those three stores operated by Amazon. This is the last purchase of the family holding company in logistics activity, all these operations ceased in 2021, as per the latest accounts submitted by the company to the Mercantile Registry recently.

In dollars, through the logistics platform of palmdale (in Los Angeles County), Maori 60 million paid. They also distributed another 30 million for one and another 22 million for one in Chula Vista (near San Diego). IowaThe latter transaction was already announced by the company last year.

In this way, the logistics business in the US gains relevance to the Losantos family, in which it is committed to investing in warehouses with larger companies as tenants. The real estate company already has five platforms powered by Amazon and another five by the delivery giant FedexIn addition to other tenants such as pharmaceutical company Merck Sharp & Dohme (MSD) or pharmacy chain CVS.

“They are properties in strategic enclaves, with first-class tenants, long-term contracts, land with the potential for future expansion, increased rents… and our core commitment is in last-mile logistics, key to success. e-commerceMāori President Mario Losantos detailed when he announced an investment in Iowa last year. At the time, the real estate company had a surface area of ​​one million square meters in logistics land, divided into fifteen properties, and a building area up to 500,000 additional square meters.

The Losantos family made a huge fortune when they sold their controlling half. riofisa, a shopping center company valued at $2,000 million to Inmocarl in 2007, just before the brick bubble burst. A year later, a new adventure began with the acquisition of properties in Spain, the United States, the United Kingdom, New Zealand, Germany, Portugal, Canada and Australia. One of the companies it works with the most is real estate agency Allegra. Among his great projects, stands the already completed construction of a residential tower on the other side of the Atlantic in Brooklyn.

The company also states in its accounts that it has sold one of the ships operated by Amazon in the US in Greensboro (North Carolina) purchased in 2019 to a local investor, and has now transferred it for $27 million. In this case, Māori see an opportunity for an accelerated capital gain of $5 million, as the company is open to disinvestment if good deals come along.

disinvestment in the UK

Family Holding Company also divested assets in the United Kingdom last year, as reported in its accounts.

It disposed of an office building on Merion Way in the center of Leeds and a logistics platform on Merrington Lane in the north of England at current exchange rates for a combined value of around €27 million, with capital gains. about six million.

2.5 to your income. multiply by

The accounts also show that Māori generated revenue of 71.6 million in 2021, up 13.65% year-on-year. And he won 14.8 million, which means multiplying 2.5 times the result achieved a year earlier. One of the reasons is a reversal of the eight million recorded a year ago in British properties due to the COVID-19 pandemic crisis.

Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.

Latest News

Related Stories