Logistic Properties of the Americas Business Summary

Logistic Properties of the Americas (LPA) is a vertically integrated, internally managed real estate company that generates revenue primarily through long-term, U.S. dollar-denominated leases of Class A warehouse and logistics facilities. The company operates through three primary geographic segments—Costa Rica, Peru, and Colombia—with a recent strategic expansion into the Mexican market via acquisitions in Puebla. As of early 2026, Costa Rica remains the largest revenue contributor, representing over 50% of the company's top-line growth. LPA focuses on high-barrier-to-entry, undersupplied markets, serving a blue-chip tenant base that includes multinational e-commerce retailers, third-party logistics (3PL) providers, and consumer goods distributors. In the competitive landscape, LPA contends with global giants like Prologis and regional leaders such as Vesta and Capital Properties; however, it distinguishes itself as a niche pure-play leader in the Andean and Central American regions, leveraging institutional-quality assets to capitalize on nearshoring and e-commerce penetration. Originally founded in 2013 as LatAm Logistic Properties (LLP) by Mike Fangman, the company transitioned to its current public structure following a 2024 business combination with Two (TWOA). The leadership team is currently led by CEO Esteban Saldarriaga, a former Investment Principal at Jaguar Growth Partners with an MBA from Columbia Business School, and CFO Paul Smith, who brings over 15 years of financial structuring experience from firms including McKinsey & Co. COO Annette Fernandez provides deep industry pedigree with a 13-year tenure at Prologis. The company is backed by notable institutional investors such as Highbridge Capital Management and Cerity Partners, and its board is chaired by Thomas McDonald, co-founder of Jaguar Growth Partners. Other prominent board members include Françoise Lavertu, former General Manager at Tesla, and Gloria Canales Saldaña, a former executive at Amazon Mexico, providing the firm with significant expertise in regional supply chain technology and e-commerce dynamics.