Latam Logistic Properties, a portfolio company of Jaguar Growth Partners, raised US$77m to further expand operations by offering Class-A warehousing and logistics products in Latin America. The new capital will seek to allow LLP to build or acquire up to 5 million square feet (465,000 square meters) of GLA in Latin America. The investment was structured as a co-investment from new and existing investors.
(Press Release) LatAm Logistic Properties (“LLP”) is pleased to announce it has raised a total of $77 million of growth capital as it continues to expand in its key markets in Latin America. The new capital was arranged by LLP’s strategic partner, Jaguar Growth Partners, LLC, and structured as a co-investment from new and existing institutional investors.
“This investment marks a key milestone in the company’s trajectory to become the first integrated logistics real estate platform to currently operate in Costa Rica, Peru and Colombia,” said Mike Fangman, CEO of LLP. “We are executing on our strategy of serving high credit-quality tenants, becoming a one-stop solution for businesses that wish to increase their supply chain efficiencies in these geographies.”
With this primary capital investment, LLP will seek to further expand its operations by offering Class-A warehousing and logistics product in deeply underserved markets in Latin America. The company currently has over 1 million square feet (93,000 square meters) of gross leasable area (GLA) under contract with multinational tenants and regional leaders. The new capital will seek to allow LLP to build or acquire up to 5 million square feet (465,000 square meters) of GLA in Latin America.
“Since our initial investment in 2015, LLP has become one of the leading developer, owner operating platform of logistics warehouse facilities in Costa Rica, Peru and Colombia,” said Thomas McDonald, Founder and Managing Partner and Head of Americas of Jaguar Growth Partners. “We believe this additional capital reaffirms and fuels LLP’s expansion strategy, its leadership team and the long-term prospects of the Andean Region, especially as e-commerce begins to take hold.”
About LatAm Logistic Properties
LLP develops, acquires and owns Class-A industrial properties in the target markets of Costa Rica, Peru and Colombia. LLP was founded in 2013 by Mike Fangman and Jaguar Growth Partners joined as a strategic partner in 2015. LLP leverages its team throughout the region via a deep understanding of global customer demands, international best practices in design specifications and construction best practices along with local expertise in market dynamics, site selection and regulatory approvals.
Please see www.latamlogisticproperties.com for additional information.
About Jaguar Growth Partners
Headquartered in New York, with offices in Sao Paulo and Mexico City, Jaguar Growth Partners is a privately-held investment management firm specializing in real estate private equity and credit in growth markets globally. Founded in 2013 by Gary Garrabrant and Thomas McDonald, Jaguar invests in and develops scalable real estate operating platforms and companies poised to grow in emerging economies characterized by an expanding middle-class and attendant consumerism, aspirational youth, urbanization and inefficient access to capital.
Jaguar currently manages two funds focused on Latin America and has commenced activities in India initially focusing on high-yield debt investment with a fund expected in 2019 focused on India, China and other compelling markets in Asia. As in Latin America, Jaguar will seek to invest across the region, capitalizing on the growth of the middle-class, urbanization and other long‐term secular trends that are expected to drive prospects for investing in real estate in these growth markets.
Jaguar is distinguished by an active investment style working in close collaboration with local operating partners. Jaguar is a member of the Pension Real Estate Association, Emerging Markets Private Equity Association, Latin American Private Equity & Venture Capital Association and the Institutional Limited Partners Association.
Please see www.jaguargrowth.com or @JaguarGrowth for additional information.
Shree Dhond/Zach Kouwe
Dukas Linden Public Relations