Logistic Properties of the Americas Wins $145 Million Approval to Sell Peru Logistics Park
Logistic Properties of the Americas (LPA) has received regulatory approval from Peru's antitrust authority, INDECOPI, for its planned $145 million sale of Parque Logístico Lima Sur. The logistics park is set to be acquired by FIBRA Prime and will generate approximately $85 million in net proceeds after debt repayment but before taxes. These funds are intended for expansion into Mexico's high-quality stabilized properties over the next 12–18 months. The sale aims to replace Lima Sur’s cash flow, which generated $10.3 million of cash NOI during the year ended March 31, 2026. LPA plans to continue managing the property for FIBRA Prime and reduce interest expenses by repaying debt from proceeds. However, replacing this income stream with Mexican properties poses challenges due to current low revenue contributions from that region. The company's second-quarter results showed a strong performance, including 100% stabilized portfolio occupancy and $14.7 million in revenue. The success of the reinvestment strategy will depend on tenant quality, lease terms, purchase prices, and timing.
Topics: logistics Mexico expansion Peru logistics park sale real estate investment trusts (REITs)