Logistic Properties of the Americas (LPA) Registration Filing summary

Company overview and business model

• Develops, owns, and manages a diversified portfolio of Class A warehouse logistics assets in Central and South America, focusing on high-growth, high-barrier-to-entry markets in Costa Rica, Colombia, and Peru.

• Business model generates recurring revenue from long-term leases with creditworthy tenants, emphasizing internally managed operations and no external management fees.

• As of June 30, 2024, portfolio included 29 properties with ~5 million sq. ft. GLA, 94.6% stabilized occupancy, and a weighted average lease term of 5.3 years.

• Properties are EDGE-certified for sustainability and designed to support e-commerce and nearshoring trends.

• Geographic diversification: 47.5% of GLA in Costa Rica, 25.3% in Colombia, 27.2% in Peru.

Financial performance and metrics

• For the six months ended June 30, 2024: revenue $21.5M, net loss $34.0M.

• For the year ended December 31, 2023: revenue $39.4M, net profit $7.2M.

• Rental income increased 11.6% YoY for the six months ended June 30, 2024, driven by an 8.7% increase in leased GLA.

• NOI for the six months ended June 30, 2024 was $18.1M, up from $16.6M in the prior year period.

• As of June 30, 2024, total debt was $275.9M, with 95.5% as long-term debt; cash and equivalents were $48.2M.

• Net Debt to NOI was 6.1x as of June 30, 2024.

Use of proceeds and capital allocation

• The company will not receive any proceeds from the sale of shares by selling securityholders; all proceeds go to the selling securityholders.

• Proceeds from the March 2024 business combination and PIPE investment were used to strengthen the balance sheet and support ongoing operations.

• Capital expenditures for the six months ended June 30, 2024 were $11.7M, focused on property development.