Logistic Properties of the Americas (NYSE:LPA) shares are trending on Wednesday night.
LPA shares surged 71.01% to $5.37 in after-hours trading on Wednesday after the Peru-based Real Estate Investment Trust announced a $145 million divestment of its flagship Peru logistics asset to FIBRA Prime.
FIBRA Prime is Peru’s leading diversified REIT, listed on the Bolsa de Valores de Lima stock exchange.
$85M In Net Proceeds Headed To Mexico
The deal, which is subject to regulatory approval, includes the acquisition of 100% of Parque Logístico Lima Sur, a 1.3 million square foot logistics park in Lima's Lurín submarket. PLS generated $10.3 million in cash net operating income for the twelve months ended Mar. 31.
