SAN JOSÉ, Costa Rica, Sept 22 — Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, “LPA” or the “Company”) announced today the sale of Bodegas Aurora, a stabilized, non-core logistics property in Heredia, Costa Rica, for a gross purchase price of US$6.6 million. The transaction reflects LPA’s active portfolio management approach of monetizing certain mature assets and redirecting the resulting capital toward higher-return opportunities, primarily in Mexico.
Bodegas Aurora comprises approximately 103,440 square feet of net rentable area across two multi-tenant logistics buildings in Aurora, Heredia, one of Costa Rica’s established industrial submarkets. The property is leased to a diverse base of tenants spanning the manufacturing, retail, consumer goods, office and logistics sectors and currently generates approximately US$560,000 of annual net operating income.
LPA intends to redeploy most of the sale’s net proceeds into investment opportunities focused on growing the Company’s Mexico platform.
Esteban Saldarriaga, Chief Executive Officer of LPA, said: “The sale of Bodegas Aurora demonstrates the discipline with which we manage our regional property portfolio. Although the asset is stable and performs well, it is no longer core to the unique cross-border platform that we are methodically expanding. This latest divestment enables us to crystallize more of the value we have created and put that capital to work in Mexico, where the opportunity set is broader and the growth runway is considerably longer.”
Luis Carlos Conejo, Country Manager for Costa Rica, added: “Since acquiring Bodegas Aurora in 2020, we have significantly increased its occupancy, strengthened the tenant mix and stabilized the property’s cash flows. With that work completed, now is the right moment to capture more value through active asset management that also focuses our Costa Rica portfolio on assets that are the strongest long-term strategic fit for LPA’s regional platform.”
The sale of the Bodegas Aurora property is expected to follow the pending sale of Parque Logístico Lima Sur in Peru, further advancing LPA’s capital reallocation strategy: actively managing the Company’s property portfolio by recycling capital resulting from the divestment of mature or non-core assets and directing it toward opportunities with stronger long-term growth profiles and higher return potential.
The all-cash transaction is structured as a direct asset transfer and remains subject to confirmatory due diligence and customary closing conditions, with its closing expected in the fourth quarter of 2026.
