LLP is dedicated to developing and operating logistic warehouse facilities for rent in the underserved markets of Costa Rica, Peru, Colombia and Panama. LLP aims at developing approximately 700,000 square meters of logistics Class A warehouses with modern specifications, providing significant efficiency improvements to multinational, regional and local retailers and logistic operators in the region.

LLP was founded in 2013 by Mike Fangman, CEO and shareholder, who has 15 years of institutional logistics property experience in Latin America. In June 2015, Jaguar Real Estate Partners I LP (the “Fund” or “JREP1”), a New York based RE private equity fund managed by Jaguar Growth Asset Management LLC (“Jaguar”), became the majority shareholder of LLP. Jaguar executives have deep experience in RE in emerging markets, especially in Latin America.  Through the Fund, Jaguar provides capital as well as global RE experience adding value throughout various life stages of projects.

The Project has a total cost of US$52.7 million, out of which US$14 million will be financed with an A Loan, US$14 million with a B Loan and the remaining with equity from the Sponsor. Construction of the first building began during 1Q2017 and it is expected to be completed by 1Q2018

23.50 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	23.50
Equity

* These investment figures are indicative

The Project is located in the Lurin district in the department of Lima, which has experienced significant growth in logistics operations given the proximity to the city of Lima.

- Infrastructure development: LLP will help address the existing shortages of quality industrial and logistics property infrastructure in Lima, where there is no supply of efficient, Class-A buildings to service multinationals and local equivalents; - Business efficiencies and linkages: The modern, high-quality infrastructure developed by LLP will result in improved efficiencies and reduced operational costs for local businesses and supply chains. Class A developments can be significantly more efficient with lower operating costs than existing properties in these markets, given some of their characteristics. These include: higher ceilings, increased floor load capacity, column-free span areas, intensive docking ports with levelers for all types of trucks, and ample maneuvering yards for large vehicles. LLP estimates that in Lima the improved cost efficiency of its properties with respect to those of its competitors is at least 100% vs Class C properties and between 30% to 40% for the best Class B properties; - Economic growth, job creation and supply chain development: The Project will drive the creation of direct jobs during both construction and operations, also supporting a significant number of indirect jobs through the supply chains of its tenants. The sourcing of construction inputs and related services during the subsequent development phases will foster the development of local SMEs and support local suppliers; and - Improved standards: LLP is also strengthening its ESG practices contributing to the overall improvement of quality standards in Peru, including E&S and life and fire safety standards as well as in terms of building construction methods and energy efficiency features.

- Institutional backing, mobilization and co-investment support: IFC's role as a lender to LLP is providing and mobilizing funding to the Project as well as helping fund and mobilize additional funding in the future from other lenders to its new developments in or outside Peru; - E&S: IFC is providing technical knowledge and advice to support LLP in enhancing its E&S practices and ensuring that the Project meets IFC's E&S standards; and - Green buildings: IFC has been providing technical knowledge and advice to LLP on IFC's EDGE green building standard.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.