Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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Equity Bottom-Up

Logistic Properties of The Americas / Equity Bottom-Up

Logistic Properties of The Americas (LPA US)

<div><ul><li>Third asset monetization of 2026 reinforces LPA’s capital recycling strategy.</li><li>LPA agreed to sell five stabilized buildings at Parque Logístico Calle 80 in Bogotá to Bancolombia for ~$152 million, bringing completed and announced 2026 asset sales to more than $300 million.</li><li>Proceeds provide additional capital to accelerate LPA’s Mexico expansion. </li></ul></div>

Third asset monetization of 2026 reinforces LPA’s capital recycling strategy.LPA agreed to sell five stabilized buildings at Parque Logístico Calle 80 in Bogotá to Bancolombia for ~$152 million, bringing completed and announced 2026 asset sales to more than $300 million.Proceeds provide additional capital to accelerate LPA’s Mexico expansion. 

LPA: Further Advances Capital Recycling Strategy with $152-Million Colombia Asset Sale

<div><ul><li>Growth is increasingly de-risked and scalable. Approximately 92% of LPA’s development pipeline is pre-leased, allowing the company to know the tenant, rent, and expected return before construction begins.</li><li>Management believes the ~6 million-square-foot platform could ultimately grow to several times its current size, with incremental properties requiring relatively little additional overhead.</li><li>The $145-million Lima Sur sale validates embedded portfolio value. </li></ul></div>

Growth is increasingly de-risked and scalable. Approximately 92% of LPA’s development pipeline is pre-leased, allowing the company to know the tenant, rent, and expected return before construction begins.Management believes the ~6 million-square-foot platform could ultimately grow to several times its current size, with incremental properties requiring relatively little additional overhead.The $145-million Lima Sur sale validates embedded portfolio value. 

LPA: Capital Recycling and the Next Leg of Growth

<div><ul><li>LPA announces $6.6 million Costa Rica asset sale. The company has agreed to sell Bodegas Aurora, a stabilized, non-core logistics property in Heredia, Costa Rica, for $6.6 million in cash.</li><li>The transaction is expected to close in 4Q26, subject to customary closing conditions.</li><li>Sale implies an attractive 8.5% capitalization rate. </li></ul></div>

LPA announces $6.6 million Costa Rica asset sale. The company has agreed to sell Bodegas Aurora, a stabilized, non-core logistics property in Heredia, Costa Rica, for $6.6 million in cash.The transaction is expected to close in 4Q26, subject to customary closing conditions.Sale implies an attractive 8.5% capitalization rate. 

LPA: Costa Rica Asset Sale Advances Capital Recycling Strategy and Mexico Expansion

<div><ul><li>Logistic Properties of the Americas delivered another record quarter, reporting revenue of $14.7MM (+26.1% Y/Y) and NOI of $12.2MM (+27.0% Y/Y), with growth broad-based across all four markets.</li><li>Adjusted EBITDA of $9.4MM grew 49% Y/Y, reflecting the operating leverage embedded in LPA’s vertically integrated platform.</li><li>100% occupancy for a third straight quarter + 10.0% rent growth underscore durable pricing power.</li></ul></div>

Logistic Properties of the Americas delivered another record quarter, reporting revenue of $14.7MM (+26.1% Y/Y) and NOI of $12.2MM (+27.0% Y/Y), with growth broad-based across all four markets.Adjusted EBITDA of $9.4MM grew 49% Y/Y, reflecting the operating leverage embedded in LPA’s vertically integrated platform.100% occupancy for a third straight quarter + 10.0% rent growth underscore durable pricing power.

LPA: 2Q26 Growth Accelerates; FIBRA Prime Alliance Unlocks Capital for Mexico Expansion

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Research Reinvented

<ul>
  <li>LPA is strategically repositioning its portfolio by divesting a key Peruvian asset at a premium to unlock capital for higher-growth opportunities in Mexico, capitalizing on the nearshoring trend.</li>
  <li>The company demonstrates strong operational performance, maintaining 100% occupancy and achieving significant rent growth, which underscores the quality of its Class A logistics assets in high-barrier-to-entry markets.</li>
  <li>Despite strong fundamentals and a validated asset portfolio, the stock trades at a significant discount to its book value, presenting a potential valuation disconnect for investors.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  LPA is strategically repositioning its portfolio by divesting a key Peruvian asset at a premium to unlock capital for higher-growth opportunities in Mexico, capitalizing on the nearshoring trend.
  The company demonstrates strong operational performance, maintaining 100% occupancy and achieving significant rent growth, which underscores the quality of its Class A logistics assets in high-barrier-to-entry markets.
  Despite strong fundamentals and a validated asset portfolio, the stock trades at a significant discount to its book value, presenting a potential valuation disconnect for investors.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Logistic Properties of The Americas (LPA US) - Aug 2026

United States

Logistic Properties of The Americas operates as a real estate development company. The Company develops, owns, and manages warehouses and other logistics real estates. Logistic Properties of The Americas serves customers in Central and South America.

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Logistic Properties of The Americas (LPA US)

LPA: Further Advances Capital Recycling Strategy with $152-Million Colombia Asset Sale

LPA agreed to sell five stabilized buildings at Parque Logístico Calle 80 in Bogotá to Bancolombia for ~$152 million, bringing completed and...

Water Tower Research

LPA: Capital Recycling and the Next Leg of Growth

Approximately 92% of LPA’s development pipeline is pre-leased, allowing the company to know the tenant, rent, and expected return before...

Water Tower Research

LPA: Costa Rica Asset Sale Advances Capital Recycling Strategy and Mexico Expansion

LPA announces $6.6 million Costa Rica asset sale. The company has agreed to sell Bodegas Aurora, a stabilized, non-core logistics property in...

Water Tower Research

LPA: 2Q26 Growth Accelerates; FIBRA Prime Alliance Unlocks Capital for Mexico Expansion

Logistic Properties of the Americas delivered another record quarter, reporting revenue of $14.7MM (+26.1% Y/Y) and NOI of $12.2MM (+27.0% Y/Y),...

Water Tower Research

Primer: Logistic Properties of The Americas (LPA US) - Aug 2026

LPA is strategically repositioning its portfolio by divesting a key Peruvian asset at a premium to unlock capital for higher-growth...

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