Welcome to our dedicated page for Logistic Properties of the Americas news (Ticker: LPA), a resource for investors and traders seeking the latest updates and insights on Logistic Properties of the Americas stock.
Logistic Properties of the Americas (LPA) is a fully-integrated, internally managed real estate company that specializes in the development, ownership, and management of a diversified portfolio of warehouse logistics assets in Central America and South America. LPA focuses on modern Class A logistics real estate in high-growth, high barrier-to-entry markets which are currently undersupplied and have low penetration rates.
The company has a comprehensive and strategic approach to real estate investment, ensuring that their properties meet the demands of global and regional logistics operators. Their facilities are designed to support the efficient movement of goods, leveraging advanced technologies and sustainable practices.
LPA has recently achieved significant milestones, including the completion of several state-of-the-art logistic centers and the initiation of new projects aimed at further expanding their footprint in key markets. The company's financial health is robust, supported by strong leasing activity and long-term partnerships with leading logistics companies.
Current projects include the development of additional warehouse spaces in strategically selected locations to cater to the growing e-commerce sector. These projects are expected to enhance the company's market presence and provide stable revenue streams.
By focusing on high-demand markets and maintaining a diversified portfolio, LPA ensures resilience and sustained growth. Their commitment to quality and operational excellence makes them a significant player in the logistics real estate sector.
Logistic Properties of the Americas (NYSE American: LPA) has announced a strategic partnership with Falcon, a leading Mexican real estate developer. This partnership marks LPA's entry into the Mexican market and includes the addition of two operating properties with a combined gross lease area of 257,677 square feet, anchored by DHL as a tenant. The deal, expected to close in early 2025, grants LPA access to Falcon's extensive experience and network in Mexico's industrial and logistics market. This move aims to enhance LPA's regional presence and develop top-tier logistics solutions for new clients in Mexico, supporting the company's expansion strategy in Latin America. CEO Esteban Saldarriaga highlighted the alliance's potential to deliver long-term value to investors and provide best-in-class logistics solutions. Falcon's Co-CEO Francisco Alvarez Rojo emphasized the combined strengths in developing and operating world-class industrial and logistics real estate. This partnership reinforces LPA's commitment to regional economic growth and sustainability initiatives.
Logistic Properties of the Americas (NYSE American: LPA), a leading developer and manager of Class A industrial and logistics real estate in Central and South America, has scheduled its Third Quarter 2024 financial results announcement. The earnings release will be issued after market close on Wednesday, November 13, 2024, followed by a conference call on Thursday, November 14, 2024 at 9:00 a.m. ET. Investors can participate via phone using toll-free and international numbers, or through a webcast available on the company's website.
Logistic Properties of the Americas (NYSE American: LPA) reported strong Q2 2024 financial results, with 10% year-over-year revenue growth to $11.0 million. Key highlights include:
- Operating portfolio occupancy at 94.6%
- Average rent per square foot increased 11.3% YoY to $7.87
- Net Operating Income (NOI) grew 6.2% to $9.2 million
- Net Earnings reached $9.9 million, compared to a $4.8 million loss in Q2 2023
- Earnings per Share of $0.31, up from a loss of $0.17 in Q2 2023
LPA successfully refinanced a $60 million facility for La Verbena Logistics Park, lowering interest rates and extending maturity. The company's operating GLA increased 7.5% to 5.0 million square feet in H1 2024.
Logistic Properties of the Americas (NYSE American:LPA), a leading developer and manager of Class A industrial and logistics real estate in Central and South America, has announced its reporting dates for Second Quarter 2024 financial results. The company will release its earnings report on Wednesday, August 14, 2024, after market close. A conference call to discuss the results is scheduled for Thursday, August 15, 2024, at 9:00 a.m. ET. Interested parties can participate by dialing +1 800 715 9871 (Toll-Free) or +1 646 307 1963 (International) with the entry passcode 7886580. A webcast of the call will also be available, and a recording will be accessible on LPA's website for a time after the event.
Logistic Properties of the Americas (NYSE American: LPA) has expanded its board with the appointments of two independent directors, Françoise Lavertu and Javier Marquina. This increases the board to seven members, with six being independent. Lavertu brings over 25 years of international experience in scaling businesses and developing brands at companies like Tesla and Louis Vuitton. Marquina has a strong track record in investing and growing commercial real estate companies throughout Latin America.
The appointments aim to leverage their expertise in AI solutions for supply chain management and international real estate investment to capitalize on e-commerce and nearshoring trends driving growth in Latin America's industrial real estate markets. Both new directors express enthusiasm for contributing to LPA's expansion and strategic growth in the region.
Logistic Properties of the Americas (LPA), a top developer and manager of Class A industrial and logistics real estate in Central and South America, will ring the Opening Bell at the New York Stock Exchange (NYSE) on May 30, 2024. This event celebrates their public listing following a business combination with TWOA. CEO Esteban Saldarriaga stated that the NYSE listing enhances their access to capital, allowing further expansion to capitalize on significant nearshoring and e-commerce trends in Latin America. The bell-ringing will be live-streamed and shared on multiple social media platforms.
Logistic Properties of the Americas (NYSE American: LPA) announced the refinancing of $120 million in mortgage loans for its La Verbena Logistics Park in Costa Rica and Lima Sur Logistics Park in Peru. LPA secured a new $60 million, 15-year loan from Banco BAC San José for La Verbena, replacing a previous $48.05 million loan. The new loan features a three-month SOFR plus 2.00% interest rate and a 20-year amortization profile. Additionally, LPA obtained a $60 million, 10-year sustainability-linked loan from Banco BBVA Peru for Lima Sur Logistics Park, which includes two tranches with interest rates of 8.40% and 8.50%. This move aims to lower financing costs, extend debt maturity, and support reinvestment and development within its property platform.
Logistic Properties of the Americas (LPA) has announced key changes in its leadership structure to support its growth following its NYSE listing in March 2024. Annette Fernandez, currently CFO, will transition to the role of Chief Operating Officer (COO) effective May 13, 2024. Paul Smith will join as the new Chief Financial Officer (CFO), bringing over 15 years of experience in finance and real estate transactions in Latin American markets. CEO Esteban Saldarriaga praised Fernandez's contributions and expressed confidence in Smith's ability to elevate the company's financial operations. The leadership evolution aims to strengthen LPA's operational foundation and drive its growth strategy.
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