Logistic Properties of the Americas Completes US$145 Million Peru Asset Sale
Logistic Properties of the Americas, together with its subsidiaries, has completed the previously announced sale of Parque Logístico Lima Sur in Peru for US$145.0 million. The buyer is FIBRA Prime, a diversified Peruvian Real Estate Investment Trust.
The transaction closed after receiving approval from Peru’s antitrust authority, INDECOPI, and following the satisfaction of customary closing conditions. The sale represents an important step in LPA’s capital allocation strategy as the company plans to redirect proceeds toward industrial real estate opportunities in Mexico.
Sale Generates Premium to Carrying Value
The US$145.0 million transaction price represents a nearly 20% premium to the property’s carrying value before the fair value adjustment recorded during the second quarter of 2026, when the transaction was agreed.
Parque Logístico Lima Sur is an approximately 1.3 million-square-foot, institutional-grade logistics park. LPA developed and leased the property, creating value through development, tenant relationships and active asset management.
The completed divestment allows LPA to realize that value while providing market-based support for the appraised value of its broader real estate portfolio. The company noted that the transaction was negotiated with an independent institutional buyer, providing a relevant reference point for the valuation of its assets.
As of June 30, 2026, LPA reported book value per share of US$8.62. That figure included the fair value adjustment associated with the Lima Sur transaction.
Proceeds to Support Mexico Expansion
LPA plans to redeploy the sale proceeds into its actionable investment pipeline in Mexico. The company sees continued opportunities in strategically located industrial properties supported by domestic consumption, e-commerce, nearshoring and the expansion of AI-driven electronics manufacturing.
Mexico has become a key area of focus for LPA as the company seeks assets capable of generating attractive risk-adjusted returns. Its current pipeline includes several potential acquisitions, along with a previously announced master forward purchase agreement with Fortem Capital covering stabilized assets at Central Park 57.
The strategy allows LPA to recycle capital from completed investments into new opportunities while maintaining its focus on high-growth industrial real estate markets.
Structured Payment and New Credit Facility
Under the terms of the transaction, LPA received US$85.0 million at closing. The remaining US$60.0 million is payable in two equal installments of US$30.0 million each, scheduled for 12 and 24 months following the closing.
To provide earlier access to a portion of the deferred sale proceeds, LPA entered into a US$55.0 million credit facility with BTG Pactual. The facility carries a fixed annual interest rate of 8.50%, with repayments structured to align with the scheduled installment payments from the property sale.
The financing arrangement gives LPA additional liquidity while allowing the company to continue executing its investment strategy before all deferred proceeds are received.
LPA to Continue Managing Lima Sur
Although ownership of Parque Logístico Lima Sur has transferred to FIBRA Prime, LPA will continue managing the property on behalf of its new owner.
Under the ongoing management arrangement, LPA will remain responsible for property operations, tenant relationships and service delivery. The company will also earn management and service fee income from its continued involvement with the asset.
LPA’s broader Peru platform remains anchored by Parque Logístico Callao. The logistics facility is located adjacent to Jorge Chávez International Airport and offers connectivity to the Port of Callao, supporting access to key transportation and trade infrastructure.
Management Highlights Strategic Shift
Esteban Saldarriaga, Chief Executive Officer of LPA, said the completion of the transaction demonstrates the company’s ability to participate across the full real estate investment cycle, from development and acquisition through management and eventual monetization.
According to Saldarriaga, the sale strengthens LPA’s balance sheet and increases financial flexibility while creating additional capacity to pursue growth opportunities in Mexico.
He also highlighted the transaction as part of LPA’s gradual move toward a more capital-light model in selected markets. Under this approach, the company expects to work more closely with institutional investors, family offices and high-net-worth individuals seeking opportunities to invest alongside LPA.
Álvaro Chinchayán, LPA’s Country Manager for Peru, said the value generated by Lima Sur over approximately six years reflects the strength of the company’s local platform and its approach to development and active asset management.
LPA will continue operating the property for FIBRA Prime and expects to develop a long-term relationship with the new institutional owner.
FIBRA Prime Expands Logistics Portfolio
For FIBRA Prime, the acquisition adds a stabilized, institutional-grade logistics property to its portfolio and expands its presence in Peru’s logistics sector.
Ignacio Mariátegui, Chief Executive Officer of FIBRA Prime, said Lima Sur provides immediate income generation while positioning the REIT to benefit from structural changes in the logistics market.
The company expects the property to benefit from long-term demand associated with e-commerce, omnichannel distribution and growing requirements for modern, efficient logistics infrastructure.
With the acquisition, FIBRA Prime continues its strategy of building a diversified portfolio of high-quality real estate assets focused on recurring income and long-term value creation.
The completion of the US$145.0 million transaction therefore marks a significant change in ownership for Parque Logístico Lima Sur while allowing LPA to retain an operating role. For LPA, the proceeds provide additional capital for its Mexico-focused growth strategy, while FIBRA Prime gains an established logistics asset positioned to benefit from evolving supply-chain and distribution requirements in Peru.
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