LPA shares surge 71% on $145m Peru asset sale to fund Mexico growth
Logistic Properties of the Americas agreed to sell its Parque Logístico Lima Sur asset to FIBRA Prime for $145 million, resulting in $85 million of net proceeds to redeploy into Mexico over the next 12 to 18 months. The transaction confirms a book value of $8.00 per share and triggered a 71% surge in after-hours trading volume.
*this image is generated using AI for illustrative purposes only.
Logistic Properties of the Americas (LPA) shares surged 71.01% to $5.37 in after-hours trading on Wednesday after the Peru-based Real Estate Investment Trust announced a $145 million divestment of its flagship logistics asset to FIBRA Prime. The transaction validates a book value of approximately $8.00 per ordinary share and generates $85 million in net proceeds after debt repayment, bolstering financial flexibility to drive expansion in Mexico. The stock closed the regular session at $3.14, down 5.71%, before the spike on volume that reached 12.45 million shares, roughly 617 times the average daily volume of 20,170 shares.
The agreement involves the sale of Parque Logístico Lima Sur (PLS), a premier logistics park comprising approximately 1.3 million square feet in Lima's Lurín submarket, to FIBRA Prime, a leading diversified REIT listed on the Bolsa de Valores de Lima. PLS generated $10.3 million in net operating income (cash NOI) for the twelve months ended March 31, 2026. The deal is subject to regulatory approvals and underscores the institutional quality and stabilized cash flow profile of the asset.
Esteban Saldarriaga, Chief Executive Officer of LPA, stated the transaction confirms the platform's ability to create and realize value across the entire real estate value chain. LPA expects to redeploy the proceeds into its actionable investment pipeline in Mexico over the next 12 to 18 months. The capital is anticipated to be fully invested in stabilized, high-quality properties, capitalizing on robust acquisition and development opportunities driven by nearshoring, e-commerce growth, and domestic consumption trends.
Despite the divestment, LPA remains committed to Peru and will continue operating PLS on behalf of FIBRA Prime, maintaining responsibility for tenant relationships and service delivery while generating fee income. The company's Peru platform remains anchored by Parque Logístico Callao (PLC), adjacent to Jorge Chávez International Airport and the Port of Callao. The alliance establishes a synergistic relationship with FIBRA Prime, with LPA envisioning further collaboration combining its development capabilities with FIBRA Prime's capital base.
Logistic Properties has a market capitalization of $99.28 million. The stock has traded between a 52-week high of $7.56 and a 52-week low of $2.04. Over the past 12 months, LPA has dropped 54.16%, and it is currently trading at about 20% of its 52-week range. The stock has a Relative Strength Index (RSI) of 51.64.
Key Transaction Details
| Metric | Value |
|---|---|
| Total Consideration | $145.0 million |
| Net Proceeds | $85.0 million |
| Net Operating Income (TTM) | $10.3 million |
| Asset Size | ~1.3 million sq ft |
| Period Ended | March 31, 2026 |
What specific acquisition targets in Mexico is LPA currently evaluating to deploy the $85 million in net proceeds?
How will the loss of the $10.3 million in NOI from Parque Logístico Lima Sur impact LPA's earnings in the interim before new Mexican assets are acquired?
Are there plans to pursue similar sale-and-manage agreements for other Peruvian assets to unlock capital while maintaining operational control?
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