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Logistic Properties of the Americas Announces Third Quarter 2026 Earnings Results

LPA
  • Total revenue increased 19.3% year-over-year to $15.4 million in Q3 2026, driven by a 26.1% rise in rental revenue.
  • Rental revenue growth was led by a 45.1% increase in Peru, a 45.7% increase in Colombia, and $0.5 million contributed by newly acquired Mexico properties.
  • Net Operating Income (NOI) rose 21.1% to $12.6 million, despite investment property operating expenses increasing 54.6% to $2.8 million.
  • Operating Gross Leasable Area (GLA) grew 2.7% to 5.7 million square feet across 32 properties, with stabilized occupancy reaching 100.0%.
  • Average annual rent per square foot increased 10.6% to $9.00, while General and Administrative expenses rose 3.5% to $4.7 million.
  • LPA advanced its capital-light strategy by closing a $145 million sale of its Lima Sur park in Peru.
  • Agreements were announced to sell the Aurora park in Costa Rica and the Calle 80 park in Colombia for $6.7 million and $152 million, respectively.
  • Divested assets will remain part of the platform, with LPA retaining management responsibilities and earning annual fees on the properties.
  • LPA plans to co-invest in the $85 million Panamericana Sur park in Peru, maintaining an 11% equity stake while controlling the project.
  • Subsequent events include a finalized agreement on October 5, 2026, to sell the Calle 80 park to Bancolombia for approximately $152 million.
  • The company intends to redeploy capital from recent sales toward acquiring stabilized assets in Mexico, starting with the Central Park 57 property.
  • For the nine months ended September 30, 2026, total revenue increased 22.2% to $44.5 million, and NOI increased 25.4% to $36.9 million.