Logistic Properties of the Americas

The NYSE listing was a deliberate governance choice. As a US-listed REIT, LPA is subject to SEC disclosure standards, quarterly same-store reporting, and the 90%-plus taxable-income distribution rule. Founder Esteban Salazar structured the company this way to differentiate LPA from privately held family-industrial portfolios that dominate the region and offer limited transparency to institutional investors. The move also taps a deeper pool of publicly traded REIT capital than any Latin American exchange currently provides.

The portfolio is anchored by investment-grade multinational logistics tenants. Confirmed tenants include DHL Supply Chain, which occupies distribution hubs in multiple LPA properties, and Amazon, which leases a major fulfillment-adjacent facility in the Mexico City metropolitan area. The remainder of the tenant roster is concentrated in third-party logistics providers and consumer-packaged-goods companies, with no single tenant exceeding 15% of gross rent at the time of the firm's public listing.

LPA does not break ground on speculative development unless pre-leasing commitments exceed 50% of the building's gross leasable area. The bulk of its growth comes from acquiring stabilized, income-producing assets with existing tenancy. This approach kept portfolio occupancy above 95% at the time of the IPO, a figure disclosed in the firm's 2025 S-1 filing, and is consistent with the covenant requirements of US-listed REITs distributing most of their taxable income to shareholders.

LPA holds assets in six Latin American countries: the largest exposures are Mexico and Costa Rica, followed by Colombia, Peru, Panama, and Guatemala. The Mexico portfolio is weighted toward the Bajío industrial corridor and Mexico City submarkets. Colombian assets cluster around the Bogotá-Perimeter logistics zone. The firm's Costa Rica headquarters reflects the legacy base of properties that initially formed the platform, though the disclosed acquisition pipeline is weighted toward secondary Mexican markets and Colombian expansion.

The firm is led by Esteban Salazar, a former J.P. Morgan real-estate banker who assembled the platform in 2023 by combining legacy industrial holdings from several Central American family groups. The board includes independent directors with prior senior roles at Prologis and CBRE, an uncommon governance feature for a Latin American property company. Detailed executive biographies are available in the firm's SEC filings following the March 2025 NYSE listing.