Logistic Properties of the Americas announced its unaudited consolidated financial results for the first quarter ended March 31, 2025, reporting total revenues of $11.840 million. This represents a 12.9% increase year-over-year from $10.483 million in the first quarter of 2024. The company's operating Gross Leasable Area (GLA) reached 5.293 million square feet.
During the quarter, LPA achieved a fully leased status for its operating GLA, a significant milestone driven by a new lease with a leading global logistics company. The stabilized occupancy rate stood at 98.0%. Investment property operating expenses increased by 52.6% year-over-year to $2.338 million.
The company also announced plans to expand its Parque Logístico Callao property with a new 227,172 square-foot building, which was more than 70% pre-leased at the time of the announcement. This expansion, coupled with strong demand from existing customers, underscores LPA's growth momentum in its foundational markets of Costa Rica, Colombia, and Peru.
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