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 centers on generating recurring revenue from long-term leases with creditworthy tenants, with internal property management 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.

• Tenant base is diversified across consumer goods, third-party logistics, and retail, with no single tenant accounting for more than 10% of leased GLA.

Financial performance and metrics

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

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

• NOI for the six months ended June 30, 2024 was $18.1M; Adjusted EBITDA was $13.5M.

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

• Net Debt to NOI was 6.1x; Net Debt to Adjusted EBITDA was 8.3x as of June 30, 2024.

• Rental income increased 11.6% YoY for the six months ended June 30, 2024, driven by higher leased GLA and increased rental rates.

Use of proceeds and capital allocation

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

• Capital expenditures for the six months ended June 30, 2024 were $11.7M, focused on construction and development of new properties.

• Cash flows from operations for the six months ended June 30, 2024 were $7.2M; investing activities used $11.0M, and financing activities provided $16.8M.