Logistic Properties of the Americas reported a decisive move in its regional portfolio strategy on Wednesday, disclosing a $145 million sale of Parque Logístico Lima Sur in Peru to FIBRA Prime, a diversified real estate investment trust based in Peru. The announcement coincided with a more than 40% rise in the company’s shares on the same day.
The proposed transaction, which remains subject to regulatory approvals and customary closing conditions, is projected to yield approximately $85 million in net proceeds to LPA after repaying debt and before taxes. Company statements indicate this outcome helps validate the carrying value of its real estate holdings and supports a book value near $8.00 per ordinary share.
For the 12 months ended March 31, 2026, the Lima Sur park produced $10.3 million in net operating income. The divested asset encompasses about 1.3 million square feet of contemporary logistics space within the Lurín submarket of Lima.
LPA said it intends to redeploy the proceeds into its Mexican investment pipeline over the coming 12 to 18 months, focusing on stabilized, high-quality assets in key submarkets. The company pointed to mid- and long-term demand fundamentals, domestic consumption, nearshoring dynamics, and ecommerce growth as the underlying drivers for this strategic emphasis.
Under the terms disclosed, LPA will remain the operator of the logistics park on behalf of FIBRA Prime, retaining responsibility for tenant relationships and service delivery and generating fee income from those operations.
The company also noted that its Peru platform will continue to be anchored by Parque Logístico Callao, which is situated adjacent to Jorge Chávez International Airport and the Port of Callao. LPA reiterated its commitment to Peru and to its other foundational markets following the sale.
Strategic context and management comment
"This inaugural transaction is a clear confirmation of our regional platform’s ability to create and realize value across the entire real estate value chain," said Esteban Saldarriaga, Chief Executive Officer of LPA.
The company framed the transaction as both a realization of value created within its regional platform and a financing step to support targeted investment activity in Mexico over the near term.
Operational details
- The asset sold: Parque Logístico Lima Sur, located in the Lurín submarket of Lima.
- Buyer: FIBRA Prime, a diversified Peruvian REIT.
- Size: Approximately 1.3 million square feet of modern logistics space.
- Financials: $145 million sale price; $85 million in net proceeds after debt repayment and before taxes.
- Performance: $10.3 million net operating income for the 12 months ended March 31, 2026.
- Post-closing operations: LPA to continue operating the park for FIBRA Prime and to collect fees for tenant management and services.
The company's communications emphasize a tactical redeployment of capital into Mexican logistics properties seen as stabilized and high quality across targeted submarkets, with a 12-to-18-month timeframe for execution.