SAN JOSÉ, Costa Rica – May 26, 2026 – Logistic Properties of the Americas (NYSE American: LPA) received a significant vote of confidence today as BTG Pactual, a leading Latin American investment bank, initiated equity research coverage on the company. The move shines a spotlight on the industrial real estate developer just as powerful economic forces like nearshoring and e-commerce are reshaping the region’s supply chains.
A Key Endorsement in a Shifting Market
The initiation of coverage by a firm with BTG Pactual’s reach across U.S., European, and Latin American institutional investors is a pivotal development for LPA. It provides a new level of visibility and validation for the company, which operates in the high-growth, high-barrier-to-entry logistics markets of Costa Rica, Colombia, Peru, and Mexico.
In a statement, LPA’s Chief Executive Officer, Esteban Saldarriaga, emphasized the importance of the new coverage. “We are pleased that BTG Pactual has initiated coverage of LPA… we believe [it] will enhance investor awareness and understanding of our platform, strategy, and long-term growth opportunity.”
This endorsement arrives at a critical juncture for the company. While LPA’s stock has seen a recent surge of over 33% in the last three months, its long-term performance has been challenging, with its share price declining significantly over the past three years. The new analyst coverage could signal a turning point, potentially attracting fresh institutional capital by highlighting the underlying value of its assets and its alignment with powerful regional trends, separate from past stock performance. With a market capitalization hovering around $100 million, increased analyst scrutiny can have a substantial impact on a company of LPA’s scale.
Capitalizing on a Regional Economic Boom
LPA’s strategy is squarely focused on what Saldarriaga calls “powerful structural tailwinds,” which are currently transforming Latin America into a global logistics hotspot. The regional logistics real estate market, valued at approximately USD 36 billion, is forecast to undergo explosive growth, driven by two primary forces: nearshoring and the e-commerce explosion.
Nearshoring—the trend of companies moving manufacturing and supply chains from Asia closer to North American consumer markets—has ignited unprecedented demand for industrial space, particularly in Mexico. The US-Mexico-Canada Agreement (USMCA) has supercharged this shift, turning Mexico into a vital “logistics bridge.” Demand for industrial facilities in key Mexican hubs like Monterrey, Tijuana, and the Bajío region has skyrocketed, leading to historically low vacancy rates and rising rental prices. LPA’s recent expansion into this dynamic market positions it to directly capture this demand.
Simultaneously, e-commerce is experiencing meteoric growth across the continent. Latin America is a global leader in online retail growth, with countries like Brazil and Mexico projected to maintain double-digit growth rates through 2029. This digital transformation is fueling an insatiable appetite for modern warehouses, distribution centers, and sophisticated last-mile delivery facilities—the very assets that form the core of LPA’s portfolio. The regional e-commerce logistics market alone is projected to grow at a compound annual growth rate (CAGR) exceeding 22% between 2024 and 2030, creating a long-term demand pipeline for developers.
An Expanding Footprint Across Dynamic Markets
Over the past decade, LPA has methodically assembled an institutional-quality portfolio designed to serve multinational corporations, e-commerce giants, and third-party logistics operators. As of March 31, 2026, the company’s portfolio consisted of 36 logistics facilities totaling approximately 6.2 million square feet of gross leasable area. This footprint is strategically diversified across key Latin American economies.
- Mexico: LPA’s newest frontier, where the nearshoring boom is in full swing. The company aims to tap into a market where industrial inventory is expected to grow by nearly 7 million square meters in 2024 alone.
- Colombia: A market benefiting from rising domestic consumption and significant government investment in transportation infrastructure through its “4G” and “5G” programs, enhancing its position as a regional distribution hub.
- Peru: This market is on the cusp of a major logistics upgrade with the impending inauguration of the Chancay megaport, a project set to dramatically reduce shipping times to Asia. Combined with a 35% surge in e-commerce adoption in 2023, Peru presents a compelling growth story.
- Costa Rica: A stable base with strong export performance, particularly in high-value goods like medical devices. While it has the potential to become a regional logistics hub, continued investment in port and road infrastructure will be crucial to unlocking its full potential.
By operating across these diverse markets, LPA mitigates single-country risk while positioning itself to benefit from the unique growth drivers within each economy.
Navigating a Crowded and Competitive Field
LPA does not operate in a vacuum. The Latin American logistics real estate sector has attracted a host of formidable global and regional players, including giants like Prologis and GLP, as well as established local developers and real estate investment trusts (REITs) such as Fibra Prologis and Vesta in Mexico.
In this competitive arena, LPA’s strategy hinges on developing and managing high-quality, modern (Class A) facilities in strategic, high-barrier locations. This focus on institutional-grade assets is designed to attract a blue-chip clientele of multinational corporations with complex supply chain needs. The company’s deep regional expertise and established client relationships are key differentiators as it competes for development projects and tenants.
The initiation of coverage by BTG Pactual provides LPA with a bolstered platform to communicate this strategy to a wider investor base. As capital continues to flow into Latin American logistics, driven by undeniable economic shifts, the ability to clearly articulate a compelling growth narrative will be more critical than ever for securing a competitive advantage.
