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Logistic Properties of the Americas provides warehouse space to consumer-goods companies, retailers and logistics providers in Costa Rica, Colombia, Peru and Mexico. Costa Rica supplies the largest share of rental revenue, with Peru and Colombia contributing most of the rest. Tenants include Kuehne + Nagel, Alicorp and PriceSmart.
Tenants pay rent under long-term leases, providing the business’s main revenue. A relatively small group of large tenants supplies a substantial share of rental income, so collecting rent and retaining or replacing those tenants are central to the business. The listed company holds its operating business through LLP and relies on payments from LLP to meet its own obligations.
The company expands by acquiring properties and developing warehouses. This requires access to capital; it aims to fund its business plan mainly through local bank borrowing and share issuance. Loan agreements restrict additional borrowing, certain payments and changes to its corporate structure, limiting its financing and operating choices.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
LPA’s results depend mainly on warehouse rents in Costa Rica, Peru and Colombia and demand from tenants such as Kuehne + Nagel and Alicorp, neither of which appears in this list.
Vesta competes with LPA for tenants renting industrial buildings in Mexico, but Mexico accounted for only 4% of LPA’s operating floor area at December 31, 2025. Vesta’s occupancy offers a comparison for LPA’s small Mexican rental business, not its wider Latin American portfolio.
PriceSmart pays rent to LPA and is one of its ten largest tenants, giving LPA direct exposure to a retailer that sells merchandise and services to individual and business members through warehouse clubs in Central America, the Caribbean and Colombia. Watch PriceSmart’s warehouse-club business as a window into demand from one of LPA’s major rent-paying customers.
Terreno Realty and LPA both collect rent from businesses using warehouse and distribution space, but Terreno operates in coastal U.S. markets while LPA operates in Latin America. Terreno’s warehouse and distribution rents provide a comparison for the same type of property, rather than a direct reading of demand in LPA’s markets.
Corporacion Inmobiliaria Vesta, S.A.B de C.V. earningsVTMX
Vesta’s report will show whether industrial tenants are filling space in Mexico, a competition benchmark for LPA’s small Mexican rental business.
Watch Vesta’s occupancy. If it holds up, tenant demand for Mexican industrial space appears supported, a favorable market signal for LPA’s smaller local rental business; if it weakens, demand may be softening or competing space may be increasing. This speaks only to Mexico, not LPA’s other Latin American markets.
Pricesmart Inc earningsPSMT
PriceSmart’s report will show whether the warehouse-club business of this major LPA tenant, which rents warehouse space from LPA, is holding up.
Watch PriceSmart’s sales and customer activity. If both hold up, its business still supports its use of warehouse space and ability to pay rent; if they weaken, its space needs or rent-paying capacity may soften, though that alone would not establish a change in its lease.
Fed Interest Rate Decision
The Fed’s rate decision sets the cost of borrowing across the economy, which can change how much LPA pays on its floating-rate debt and how much cash remains for operations and debt service.
Expected4.0%Last release4.0%
If it comes in above expectations
For LPA, a higher-than-expected policy rate can raise interest costs as floating-rate debt reprices; with none of its debt hedged, less cash may remain for operations and debt service.
If it comes in below expectations
For LPA, a lower-than-expected policy rate can ease costs as floating-rate debt reprices, potentially leaving more cash for operations and debt service.
Logistic Properties of the Americas earningsThis company
Logistic Properties of the Americas’ report will show whether it can grow rent from its Latin American warehouses while keeping tenants and space occupied.
Read rental revenue alongside occupancy and same-property rental income. Rising rent with occupancy holding steady would show that rent increases, renewals and expansions are outweighing vacancies and rent reductions; falling occupancy or weaker rent would show tenant losses or softer leasing eroding growth.
