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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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Logistic Properties of The Americas / Equity Bottom-Up

Logistic Properties of The Americas (LPA US)

<div><ul><li>LPA announced an agreement to sell a property in Peru to FIBRA Prime for US$145 million, which is a significant premium to book value. </li><li>This is third-party validation of the embedded value in the company’s shares.</li><li>A Peruvian REIT has put an arm’s-length price on LPA’s flagship asset that more than substantiates the company’s overall real estate portfolio, which has a book value of ~$8.00/share versus yesterday’s close $3.14.</li></ul></div>

LPA announced an agreement to sell a property in Peru to FIBRA Prime for US$145 million, which is a significant premium to book value. This is third-party validation of the embedded value in the company’s shares.A Peruvian REIT has put an arm’s-length price on LPA’s flagship asset that more than substantiates the company’s overall real estate portfolio, which has a book value of ~$8.00/share versus yesterday’s close $3.14.

LPA: Peru Sale Highlights Steep Discount to Book Value

<div><ul><li>100% occupancy sustained; rent growth accelerating. The portfolio remains fully leased across all four markets.</li><li>Lease renewal spreads are running 10-15% on existing assets, with select markets achieving 20-25%+ on rollover. Replacement cost inflation is reinforcing pricing power.</li><li>Mexico JV confirms nearshoring thesis. LPA announced a $200-million programmatic JV focused on the outskirts of Mexico City, targeting domestic consumption logistics—a deliberate, risk-managed entry that sidesteps tariff-exposed northern export corridors while the USMCA renegotiation plays out.</li></ul></div>

100% occupancy sustained; rent growth accelerating. The portfolio remains fully leased across all four markets.Lease renewal spreads are running 10-15% on existing assets, with select markets achieving 20-25%+ on rollover. Replacement cost inflation is reinforcing pricing power.Mexico JV confirms nearshoring thesis. LPA announced a $200-million programmatic JV focused on the outskirts of Mexico City, targeting domestic consumption logistics—a deliberate, risk-managed entry that sidesteps tariff-exposed northern export corridors while the USMCA renegotiation plays out.

LPA: Key Takeaways from WTR Insights Conference - 11 June 2026

<div><ul><li>Logistic Properties of the Americas (LPA) announced the expansion of its existing lease agreement with Scharff Logística Integrada S.A. in Callao, Peru. </li><li>This expansion comes with a double-digit rent increase and is consistent with our thesis on LPA, which highlighted its ability to capture significant rent increases across its portfolio.</li><li>The Callao location—adjacent to Jorge Chávez International Airport and Lima’s primary logistics corridor—continues to experience demand that outpaces available institutional-quality supply.</li></ul></div>

Logistic Properties of the Americas (LPA) announced the expansion of its existing lease agreement with Scharff Logística Integrada S.A. in Callao, Peru. This expansion comes with a double-digit rent increase and is consistent with our thesis on LPA, which highlighted its ability to capture significant rent increases across its portfolio.The Callao location—adjacent to Jorge Chávez International Airport and Lima’s primary logistics corridor—continues to experience demand that outpaces available institutional-quality supply.

LPA: Callao Lease Expansion Reinforces Embedded Rent Growth Thesis; Double-Digit Rate Increase

<div><ul><li>Premier Class A logistics real estate platform in high-growth Latin American markets. Logistic Properties of the Americas (LPA) owns and operates institutional-quality warehouse and logistics properties across Costa Rica, Peru, Colombia, and Mexico—four markets with a structural deficit of modern industrial real estate and expanding demand fueled by e-commerce, supply chain nearshoring, and consumer goods distribution.</li><li>A vertically integrated operator. LPA controls the full value chain—sourcing land, developing from the ground up, and opportunistically acquiring assets when compelling return opportunities arise—managing the full platform internally to maintain superior control over asset quality and tenant relationships.</li><li>Tenants including PepsiCo, Kuehne + Nagel, PriceSmart, Samsung, and IKEA reflect the institutional caliber of its properties and markets.</li></ul></div>

Premier Class A logistics real estate platform in high-growth Latin American markets. Logistic Properties of the Americas (LPA) owns and operates institutional-quality warehouse and logistics properties across Costa Rica, Peru, Colombia, and Mexico—four markets with a structural deficit of modern industrial real estate and expanding demand fueled by e-commerce, supply chain nearshoring, and consumer goods distribution.A vertically integrated operator. LPA controls the full value chain—sourcing land, developing from the ground up, and opportunistically acquiring assets when compelling return opportunities arise—managing the full platform internally to maintain superior control over asset quality and tenant relationships.Tenants including PepsiCo, Kuehne + Nagel, PriceSmart, Samsung, and IKEA reflect the institutional caliber of its properties and markets.

LPA: Initiating Coverage; High-Growth Latin American Logistics Platform

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: Peru Sale Highlights Steep Discount to Book Value

LPA announced an agreement to sell a property in Peru to FIBRA Prime for US$145 million, which is a significant premium to book value.

Water Tower Research

LPA: Key Takeaways from WTR Insights Conference - 11 June 2026

Lease renewal spreads are running 10-15% on existing assets, with select markets achieving 20-25%+ on rollover. Replacement cost inflation is...

Water Tower Research

LPA: Callao Lease Expansion Reinforces Embedded Rent Growth Thesis; Double-Digit Rate Increase

Logistic Properties of the Americas (LPA) announced the expansion of its existing lease agreement with Scharff Logística Integrada S.A. in Callao,...

Water Tower Research

LPA: Initiating Coverage; High-Growth Latin American Logistics Platform

Tenants including PepsiCo, Kuehne + Nagel, PriceSmart, Samsung, and IKEA reflect the institutional caliber of its properties and markets.

Water Tower Research

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