Logistic Properties of the Americas (NYSE American: LPA) has announced the launch of Parque Logístico Panamericana Sur (PPS), a Class A logistics development in Lurín, Lima. The four-building project will total approximately 1.1 million square feet of gross leasable area, representing an expected total investment of around US$85 million to be deployed over the next three years.

Ground preparation and access road construction are already underway at the site, with vertical construction scheduled to start in the first quarter of 2027. Positioned at Kilometre 31 of the Panamericana Sur Highway, the park provides direct highway access connecting to primary distribution routes across Lima.

The development is funded through capital raised from local institutional partners, including Fondo de Inversión Credicorp Capital de Desarrollo y Rentas Inmobiliarias, managed by Credicorp Capital; La Positiva Seguros; and Inversiones Platinum. LPA will retain an equity stake of roughly 11 per cent, while managing development, leasing, operations and property management in exchange for customary fees. Third-party institutional equity capital committed to the project will exceed US$36 million.

The project represents a continuation of LPA’s capital-light growth strategy, following more than US$300 million of completed and announced asset sales during 2026 across Peru, Colombia and Costa Rica.

Esteban Saldarriaga, Chief Executive Officer of LPA, said: “PPS marks our return to reinvesting, now under a capital-light model. Having monetized Parque Logístico Lima Sur (PLS) a few weeks ago, we are building again in a new, highly strategic location in Lurín, this time alongside capital provided by new institutional investors. As previously communicated, this new model is how we plan to invest in select geographies going forward, opening a new avenue of growth and value creation for LPA that we intend to systematically pursue. By partnering with local institutional capital, we can significantly expand our development pipeline and recurring fee income in Peru while concentrating our balance sheet on other high-growth, high-return opportunities in Mexico, a far larger market. Our capital-light model enables us to scale efficiently, offer attractive risk-adjusted returns to domestic capital in each market, expand our regional operating platform, and drive long-term shareholder value.”

Álvaro Chinchayán, Country Manager for Peru, added: “As the success of the PLS property attests, Lurín is rapidly emerging as one of Peru’s most important logistics corridors. Our track record of successfully developing and stabilizing assets there has given us a deep understanding of this market and its target customers, positioning us well to develop PPS to effectively meet growing demand from multinational and regional companies seeking best-in-class logistics infrastructure serving Lima, the country’s biggest city. Our latest development initiative builds on our long-standing presence in Peru and reinforces our commitment to the market and its strong growth.”

Upon completion of PPS, LPA’s operational presence in Peru will include Parque Logístico Callao, PLS (managed on behalf of FIBRA Prime) and its new development pipeline.