BELO HORIZONTE, Brazil, April 24, 2024 (GLOBE NEWSWIRE) -- Log Commercial Properties (B3: LOGG3), a leading developer of greenfield assets and lessor of Class A logistics warehouses in Brazil, is pleased to announce its financial results for the first quarter. 1Q24 Operational Highlights: Deliveries totaling 57,000 sqm of GLA were completed with a 100% pre-lease rate Milestone of 2.0 million sqm of GLA historically delivered by the Company Gross absorption of 134,000 sqm of GLA Stabilized vacancy of 0.91%, Same Client Rent of 1,9%, above inflation for the 7th consecutive quarter 1Q24 Financial Highlights: Strong EBITDA of R$ 74.0 million in 1Q24, with a growth of 36.4% EBITDA from leases of R$ 38.8 million and a margin of 72.1% in 1Q24 Asset recycling of R$ 1.7 billion in the last 12 months Adjusted net debt reduction of 37.4%, totaling R$ 744.3 million in 1Q24 Adjusted leverage of 0.8x considering the asset sales in April Management Comments Superior Margins Above 40% in Recycling Ensure Increasing Value Creation at LOG as a Greenfield Asset Developer In 2024, LOG continues to showcase the attractivity, liquidity, and strong market demand for its assets. The company's asset recycling strategy highlights its dedication to sustainable growth and substantial value generation for shareholders. On ...