Sep. 12 at 2:02 AM
Logistic Properties of the Americas received antitrust approval from Peru’s INDECOPI for the
$145 million sale of Lima Sur Logistics Park to FIBRA Prime, clearing the final regulatory hurdle for the transaction. The 1.3 million-square-foot logistics park is expected to be sold after customary administrative closing procedures are completed.
LPA plans to reinvest approximately
$85 million of net, pre-tax proceeds from the sale in Mexico, which management views as a key growth market. CEO Esteban Saldarriaga said the approval removes the last regulatory obstacle and allows the company to move forward with the divestment of the institutional-quality asset and strategically recycle capital into logistics opportunities offering higher risk-adjusted returns.
The transaction is part of LPA’s broader capital-recycling strategy as it seeks to strengthen its presence in its most attractive regional markets.
$LPA