LLP Colombia

hold

       The proposed project entails an approximately US$30m COP equivalent (COP 77.5bn) A-Loan and a Parallel Loan of an equivalent amount coordinated by IFC to support LatAm Logistics Properties (LLP or the Sponsor) in the development of Phase I and II of its first class-A logistic warehousing park in Bogota (the Project). The warehousing park has a total potential of 252,000 sqm (240,000 sqm of warehousing space and 12,000 sqm of office area mezzanine level), on a plot of 567,300 sqm, and will be developed in 3 phases. The Project entails the construction of approximately 160,000 sqm (including office space and restrooms for employees). The plot is located on the Calle 80 (Tenjo Municipality), which is one of the most important new logistics clusters in Bogota. The project will expand the supply of scarce efficient class-A warehousing space to support the growth of retailers, e-tailers, consumer goods companies, third-party logistic operators and manufacturing companies. This new class-A warehousing space will result in increased efficiency for tenants’ supply chains and introducing international green building practices through obtaining IFC’s EDGE certification. Each phase is to be built contingent on demand (potential for approximately 3 additional buildings) and the park will have around 18,700 m2 for supporting infrastructure and sidewalks. Land preparation works began in February 2018 and is expected to be finished by May 2018. Construction activities for the first building are expected to begin the same date, and be finished by May 2019. After finishing construction and leasing the spaces, LLP will contract an administration company to operate the facilities maintenance of common areas, wastewater treatment plant and fire protection. LLP is a greenfield company focused on the development, acquisition, leasing, and management of international-standard Class-A logistics facilities in Colombia, Costa Rica, Peru, and Panama. It has developments underway in Costa Rica and Peru, where it has already built 99k sqm and let 84k sqm to multinational, regional and local companies.