Quarterly ResultMay 13, 2026, 04:32 PM
Logistic Properties Q1 2026 Revenue +21.6%, NOI +28.6%
AI Summary
Logistic Properties of the Americas announced strong first quarter 2026 financial results, with revenue growing 21.6% and Net Operating Income (NOI) increasing 28.6%. The growth was primarily driven by a significant increase in rental revenues in Peru due to newly stabilized buildings, as well as rental rate growth and positive foreign exchange effects in Colombia, and contributions from acquired properties in Mexico. The company maintained a 100% occupancy rate across its operating portfolio and saw a 10.9% increase in Same-Property Cash NOI, underscoring the strength of its underlying assets and operating leverage.
Key Highlights
- Total revenue increased 21.6% to $14.4 million in Q1 2026.
- Net Operating Income (NOI) increased 28.6% to $12.1 million.
- Same-Property Cash NOI increased 10.9% to $9.82 million.
- Operating GLA grew 9.7% to 5.8 million square feet across 34 properties.
- Occupancy rate in the operating portfolio was 100.0% as of March 31, 2026.
- Average rent per square foot increased 9.8% to $8.74.
- Rental revenue in Peru surged 39.9%, Colombia increased 24.8%, and Mexico contributed $0.5 million.
- General and administrative expenses rose 13.3% to $4.0 million, including a one-time tax charge in Colombia.
Price Impact
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