SAN JOSÉ, Costa Rica, August 16, 2025 — Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, “LPA” or the “Company”), a leading developer, owner and manager of institutional quality, Class A industrial and logistics real estate across Latin America, announced today the closing of a previously announced asset acquisition as part of its strategic partnership with Inmobiliaria y Constructora Alas, S.A. (“Alas” or “Falcon”). This key milestone aligns with LPA’s strategy to expand its regional presence in Latin America. Through the partnership and purchase, LPA will acquire a premier logistics asset in Puebla, Mexico, marking its first investment in the country’s vibrant and strategically vital logistics real estate market. Ownership of the property will be distributed as 90% by Alas and 10% by LPA.
The property comprises two operating logistics buildings totaling 257,700 square feet of gross leasable area, which are strategically located across from Volkswagen’s largest manufacturing facility outside of Germany. The site plays a critical role in Mexico’s supply chain, which has supported automotive production and exports to the U.S. and other Latin America countries for many years.
The Puebla property is anchored by and primarily leased to DHL, a global logistics leader, and is projected to generate approximately USD $1.6 million in annual net operating income. This transaction advances LPA’s strategy to acquire mission-critical logistics assets that support essential, difficult-to-replace supply networks. Additionally, it lays the groundwork for future growth in Mexico through strategic, purpose-driven partnerships that emphasize differentiation and value creation.
“Our strategic partnership with Alas and initial co-investment are fundamental milestones in LPA’s long-term expansion strategy that encompasses Mexico, enabling us to serve both current and future high-profile global clients like DHL,” said Esteban Saldarriaga, Chief Executive Officer of LPA. “The partnership combines Alas’s deep local market knowledge with LPA’s proven operational and institutional expertise. The integration of the Puebla facilities into LPA’s regional real estate platform showcases the power of strategic alliances to deliver sustained value in a high-demand logistics corridor.”
“We are proud to partner with LPA on this landmark transaction,” added Francisco Alvarez, Co-CEO of Alas. “Our aligned vision and complementary strengths have enabled us to establish a foothold in one of the most strategically vital locations within Mexico’s extensive industrial sector. This marks the first step to expand LPA’s leading logistics real estate platform into Mexico, one that we believe has considerable growth potential as well as the capacity to deliver and generate substantial value over time.”