Logistic Properties Of The Americas ( (LPA) ) has released its Q3 earnings. Here is a breakdown of the information Logistic Properties Of The Americas presented to its investors.
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Logistic Properties of the Americas (LPA) is a prominent developer, owner, and manager of institutional quality industrial and logistics real estate across Central and South America, specializing in high-growth and high-barrier-to-entry markets.
In its third quarter of 2024, LPA reported a significant 10.4% revenue increase year-over-year, highlighting robust performance with growth driven by notable leasing activity in Peru and Costa Rica. The company has successfully leveraged new lease agreements with major multinational clients to achieve enhanced financial results.
Key financial metrics for LPA include a 10.3% rise in Net Operating Income, reaching $9.6 million, and an impressive 266% increase in net earnings attributable to owners, compared to the previous year. The company’s leasing portfolio’s occupancy rate improved to 98.5%, reflecting strategic market engagements and new high-value leases, while average rent per square foot rose to $7.92.
The company is also advancing its strategic expansion with new developments in Mexico, forming a partnership with a local real estate developer to capitalize on the country’s growing industrial and logistics market. This move marks an exciting growth phase for LPA as it seeks to replicate its success in other key regions.
Looking ahead, Logistic Properties of the Americas aims to continue capitalizing on market opportunities, maintaining operational excellence, and expanding its footprint in thriving logistics hubs, underpinning long-term growth prospects in the global market.
