Logistic Properties of the Americas Earnings Call Transcripts
Fiscal Year 2026
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Revenue and NOI accelerated in Q1 2026, led by strong growth in Peru and Colombia, with 100% occupancy and rising rents. Expansion into Mexico is underway, funded by asset recycling and partnerships, while a one-time Colombian tax and asset valuation loss impacted results.
Fiscal Year 2025
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Delivered double-digit revenue and NOI growth in 2025, driven by expansion into Mexico, full occupancy, and strong pricing power. Strategic partnership with Fortem Capital positions the platform for further growth, with robust development pipelines and improved leverage.
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Q3 2025 saw 14.3% revenue growth, led by Peru and Colombia, with Mexico contributing via new acquisitions. Occupancy reached 98%, NOI rose 8.7%, and expansion in Mexico is expected to drive future growth. Net debt to investment properties improved to 41%.
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Rental revenue grew 6.4% year-over-year, led by Colombia and Peru, with 98% portfolio occupancy and strong operating cash flow. Expansion into Mexico is progressing, supported by new leadership and strategic partnerships, while disciplined capital deployment and robust demand position the platform for accelerated growth into 2026.
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Revenue rose 12.9% to $11.8M and NOI grew 6%, led by Peru and full portfolio occupancy. Expansion in Lima and entry into Mexico support a positive outlook, with strong domestic demand offsetting tariff risks. G&A rose, but financing costs fell and share buybacks continued.
Fiscal Year 2024
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Revenue grew 11.2% to $43.8M and NOI rose 7.1% to $36.6M, with occupancy reaching 98.3% by year-end. Expansion into Mexico and continued growth in core markets position the company for further NOI gains in 2025.
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Revenue and NOI grew over 10% year-over-year, with occupancy reaching 98.5% and leasing spreads in Colombia up 25%-40%. The company entered a strategic partnership to expand into Mexico, targeting growth in key industrial hubs and leveraging strong nearshoring trends.
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Q2 2024 saw strong rental income growth, especially in Costa Rica and Peru, with expansion plans focused on Mexico's USMCA corridor. Strategic refinancing and joint ventures enhanced financial flexibility, while market trends in nearshoring and e-commerce continue to drive demand.