Logistic Properties of the Americas Announces $120 million Refinancing of Two Logistics Parks in Costa Rica and Peru
Logistic Properties of the Americas Ordinary Shares (LPA)
Company Research
Source: Business Wire
SAN JOSE, Costa Rica--(BUSINESS WIRE)--Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, “LPA” or the “Company”), a leading developer, owner, and manager of institutional quality, Class A industrial and logistics real estate in Central and South America, today announced the refinancing of $120 million of its mortgage loans related to the Company’s La Verbena Logistics Park in Costa Rica and Lima Sur Logistics Park in Peru.Paul Smith, LPA’s Chief Financial Officer, said: “As part of our financial strategy we refinanced LPA’s La Verbena and Lima Sur logistics parks, in order to decrease our financing costs and extend our debt maturity profile. Through proactive liability management, we endeavor to maintain our financial flexibility and strengthen our balance sheet to further invest in meeting growing demand from top-tier companies for premium real estate properties in LPA’s current and target markets.”LPA entered into a new $60 million 15-year
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