Logistic Properties of the Americas sells site for COP 500B

Logistic Properties of the Americas reached an agreement to sell a portfolio of logistics facilities at Parque Logístico Calle 80 in Bogotá to Bancolombia, a subsidiary of Grupo Cibest, for COP 500,000 million in cash. The transaction is expected to close in early fourth quarter of 2026 once standard conditions are met.

The transaction includes five warehouse and logistics buildings spanning roughly 1.26 million square feet, fully leased to top-tier multinational companies. The agreed sale price represents an in-place capitalization rate of 8.2% and is within approximately 5% of the complex's latest independent technical appraisal.

The developer expects to receive about $70 million in after-tax net distributable proceeds to reallocate capital toward key submarkets in Mexico, including the Federal Highway 57D corridor connecting Mexico and the United States. The move also takes advantage of a roughly 14% year-to-date appreciation of the Colombian peso against the US dollar.

The deal marks the company's third mature asset divestment in 2026, lifting its completed and announced divestments above $300 million. It follows the sale of Parque Logístico Lima Sur in Peru for $145 million and an agreement to exit Bodegas Aurora in Costa Rica for $6.6 million.

Logistic Properties of the Americas will keep a developed land parcel with infrastructure to build an additional 1.08 million square feet at the complex. The company will also continue as the property manager for the entire park, earning a property management fee of 1.5% of rental income from Bancolombia.