Lima, Peru, July 12, 2017.
The International Finance Corporation (IFC), a member of the World Bank Group, announced today, that it will invest US$28 million, through a debt vehicle, in Parque Logistico Lima Sur, a new development of 66,000 square meters of state-of- the-art logistic facilities located in the outskirts of Lima, Peru.
Parque Logistico Lima Sur is being developed by LatAm Logistics Properties Peru (LLP Peru), a subsidiary of LatAm Logistic Properties, a leading developer and operator of logistic facilities in Latin America.
The new modern facilities will be built using the highest energy-efficiency standards and are expected to be certified by EDGE, a voluntary certification system from IFC that helps simplify and reduce the cost of green buildings, making them more accessible to all. EDGE promotes resource efficiency through building designs that reduce energy, including the energy used in making construction materials, and water.
“I’m pleased to announce our new partnership with IFC to develop the first Class-A logistics park in Peru,” said Mike Fangman, founder and CEO, LatAm Logistic Properties. “This logistics park will help to close the acute infrastructure deficit in Lima. Lima has the lowest level of logistics space per capita compared to other major cities in Latin America.”
“Parque Logistico Lima Sur is a master-planned logistics park designed to the highest international and IFC standards that includes environmental and social responsibility,” said Alvaro Chinchayan, Country Manager, LLP Peru. “The high design standards and quality of the park’s infrastructure will allow our future customers to achieve operational efficiencies that will benefit the Peruvian households by reducing logistic costs in Peru.”
“Logistics infrastructure, particularly in state-of-the-art storage warehouses, is key to developing further the Peruvian goods and services economy,” said Marc Tristant, IFC’s country manager in Peru. “Infrastructure development is one of our key priorities in Peru and we are confident that this much-needed independent and open warehousing project will pave the way for more efficient logistics and their development in the country,” he said.
Since 1956, IFC has invested a total of US$3.4 billion in the country, including US$1.1 billion in mobilization. The strategy adopted by IFC in Peru is aimed at boosting financing in the form of debt and equity financing, improving the investment climate, and providing support to key private sector actors who can expand the country’s infrastructure.
IFC also offers products and services to the underserved sectors, for example by expanding access by microenterprises and SMEs to financing as well as access to financing for housing, health, and education.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses companies worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY16, we delivered a record $19 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
www.ifc.org
About LatAm Logistic Properties
LatAm Logistic Properties develops, acquires and owns Class-A industrial properties in the target markets of Peru, Colombia, Costa Rica and Panama. LatAm Logistic Properties was founded in 2013 by Mike Fangman and Jaguar Growth Partners joined as an investor and strategic partner in 2015. LatAm 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.
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