0000899881 us-gaap:CommonStockMember 2009-01-01 2009-06-30 0000899881 us-gaap:RetainedEarningsMember 2009-06-30 0000899881 us-gaap:PreferredStockMember 2009-06-30 0000899881 us-gaap:CommonStockAtParValueMember 2009-06-30 0000899881 us-gaap:AdditionalPaidInCapitalMember 2009-06-30 0000899881 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-06-30 0000899881 pld:NoncontrollingInterestMember 2009-06-30 0000899881 us-gaap:RetainedEarningsMember 2008-12-31 0000899881 us-gaap:PreferredStockMember 2008-12-31 0000899881 us-gaap:CommonStockAtParValueMember 2008-12-31 0000899881 us-gaap:AdditionalPaidInCapitalMember 2008-12-31 0000899881 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2008-12-31 0000899881 pld:NoncontrollingInterestMember 2008-12-31 0000899881 us-gaap:CommonStockMember 2009-06-30 0000899881 us-gaap:CommonStockMember 2008-12-31 0000899881 us-gaap:SeriesGPreferredStockMember 2009-06-30 0000899881 us-gaap:SeriesFPreferredStockMember 2009-06-30 0000899881 us-gaap:SeriesCPreferredStockMember 2009-06-30 0000899881 us-gaap:SeriesGPreferredStockMember 2008-12-31 0000899881 us-gaap:SeriesFPreferredStockMember 2008-12-31 0000899881 us-gaap:SeriesCPreferredStockMember 2008-12-31 0000899881 2008-06-30 0000899881 2007-12-31 0000899881 2008-12-31 0000899881 us-gaap:RetainedEarningsMember 2009-01-01 2009-06-30 0000899881 us-gaap:PreferredStockMember 2009-01-01 2009-06-30 0000899881 us-gaap:CommonStockAtParValueMember 2009-01-01 2009-06-30 0000899881 us-gaap:AdditionalPaidInCapitalMember 2009-01-01 2009-06-30 0000899881 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2009-01-01 2009-06-30 0000899881 pld:NoncontrollingInterestMember 2009-01-01 2009-06-30 0000899881 2009-04-01 2009-06-30 0000899881 2008-04-01 2008-06-30 0000899881 2008-01-01 2008-06-30 0000899881 2009-06-30 0000899881 2009-01-01 2009-06-30 xbrli:pure iso4217:USD xbrli:shares <div> <a name= "_AUC65dc6a124c6d4ffaae4a833499a81e7f">8.           Earnings Per Common Share:</a>   We determine basic earnings per share based on the weighted average number of common shares outstanding during the period. We compute diluted earnings per share based on the weighted average number of common shares outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments.   The following table sets forth the computation of our basic and diluted earnings per share (in thousands, except per share amounts): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 5.5pt 0in 5.5pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="331" valign="top" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 376.2pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="150" colspan="2" valign="top" style= "width:112.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 53.0pt left 116.0pt;mso-layout-grid-align:none;text-autospace:none">       Three Months Ended <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 53.0pt left 120.5pt;mso-layout-grid-align:none;text-autospace:none">                 June 30,               </td> <td width="150" colspan="2" valign="top" style= "width:112.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 53.0pt left 116.0pt;mso-layout-grid-align:none;text-autospace:none">         Six Months Ended <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 53.0pt left 125.0pt;mso-layout-grid-align:none;text-autospace:none">                 June 30,               </td> </tr> <tr style="mso-yfti-irow:1"> <td width="331" valign="top" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 77.2pt left 154.45pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 30.5pt left 53.0pt;mso-layout-grid-align:none;text-autospace:none">           2009    </td> <td width="72" valign="top" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 53.0pt;mso-layout-grid-align:none;text-autospace:none">         2008    </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 53.0pt;mso-layout-grid-align:none;text-autospace:none">         2009      </td> <td width="72" valign="top" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 56.5pt;mso-layout-grid-align:none;text-autospace:none">         2008    </td> </tr> <tr style="mso-yfti-irow:2"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Net earnings attributable to common shares </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $      238,865 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $    206,332 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $      417,597 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $    389,853 </td> </tr> <tr style="mso-yfti-irow:3"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:left; text-indent:-4.5pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Noncontrolling interests attributable to convertible limited partnership units </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">                494 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           1,087 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">                804 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           2,238 </td> </tr> <tr style="mso-yfti-irow:4"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Adjusted net earnings attributable to common shares </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $      239,359 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $    207,419 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $      418,401 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $    392,091 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:6"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Weighted average common shares outstanding — Basic </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">         406,539 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">       262,715 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">         342,183 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">       260,827 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:left; text-indent:-4.5pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Incremental weighted average effect of conversion of limited partnership units </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             1,235 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           5,053 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             1,235 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           5,053 </td> </tr> <tr style="mso-yfti-irow:8"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:left; text-indent:-4.5pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Incremental weighted average effect of share awards (1) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             1,730 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           4,549 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             1,688 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">           4,490 </td> </tr> <tr style="mso-yfti-irow:9"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Weighted average common shares outstanding — Diluted </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">         409,504 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">       272,317 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">         345,106 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">       270,370 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.15pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.15pt 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:11"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Net earnings per share attributable to common shares — Basic </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $            0.59 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $          0.79 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $            1.22 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $          1.49 </td> </tr> <tr style="mso-yfti-irow:12;mso-yfti-lastrow:yes"> <td width="331" valign="bottom" style= "width:248.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 376.2pt;mso-layout-grid-align:none; text-autospace:none"> Net earnings per share attributable to common shares — Diluted </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $            0.58 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $          0.76 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $            1.21 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in right 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $          1.45 </td> </tr> </table> __________ <p class="MsoNormal" align="left" style= "margin-left:20.25pt;text-align:left; text-indent:-.25in;mso-pagination:widow-orphan lines-together;mso-list:l0 level1 lfo1; tab-stops:list 20.25pt;mso-layout-grid-align:none;text-autospace:none"> <![if !supportLists]>(1)     <![endif]>Total weighted average potentially dilutive share awards outstanding (in thousands) were 12,147 and 10,276 for the three months ended June 30, 2009 and 2008, respectively and 12,101 and 10,453 for the six months ended June 30, 2009 and 2008, respectively. Of the potentially dilutive instruments, 8,252 were anti-dilutive for the three months ended June 30, 2009 while substantially all were dilutive for the three months ended June 30, 2008, and 8,699 were anti-dilutive for six months ended June 30, 2009 while substantially all were dilutive for the six months ended June 30, 2008.   On April 14, 2009, we completed a public offering of 174.8 million common shares at a price of $6.60 per share (“Equity Offering”). We received net proceeds of $1.1 billion that were used to repay borrowings under our credit facilities. <style> /*<![CDATA[*/  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div> <div> <a name= "_AUC6dbdb8087806481db7a05754b7d77437">2.          </a> Sale of China Operations and Property Fund Interest in Japan   On February 9, 2009, we sold our operations in China and our property fund interests in Japan to affiliates of GIC Real Estate, the real estate investment company of the Government of Singapore Investment Corporation (“GIC RE”), for total cash consideration of $1.3 billion ($845.5 million related to China and $500.0 million related to the Japan investments).  We used these proceeds primarily to pay down borrowings on our credit facilities.   All of the assets and liabilities associated with our China operations were classified as Discontinued Operations - Assets and Liabilities Held for Sale in our accompanying Consolidated Balance Sheet as of December 31, 2008,  at which time we recognized an impairment of $198.2 million based on the carrying values of these assets and liabilities, as compared with the estimated sales proceeds less costs to sell. In connection with the sale in the first quarter of 2009, we recognized a $3.3 million gain. The results of our China operations are presented as discontinued operations in our accompanying Consolidated Statements of Operations for all periods.   In connection with the sale of our investments in the Japan property funds, we recognized a net gain of $180.2 million. The gain is reflected as CDFS Proceeds in our Consolidated Statements of Operations, as it represents the recognition of previously deferred gains on the contribution of properties to these property funds based on our ownership interest in the property funds at the time of original contribution. We also recognized $20.5 million in current income tax expense related to a portion of the transaction.   In addition, as part of this transaction, we entered into an agreement to sell one property in Japan to GIC RE. Therefore, this property was classified as held for sale as of December 31, 2008, along with borrowings of $108.6 million under our credit facilities, and its operations have been included in discontinued operations for all periods presented in our accompanying Consolidated Statements of Operations. In April 2009, we sold the Japan property for proceeds of $128.1 million, resulting in a gain of $13.1 million. See Note 5 for detail of all amounts included in discontinued operations. <style> /*<![CDATA[*/ st1:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div>

<div> <div class="Section1"> <a name= "_AUC1c863460aac542e791dc923d76dfcacd">11.        Supplemental Cash Flow Information:</a> </div>   We had no non-cash investing and financing activities in 2009. Our non-cash investing and financing activities for the six months ended June 30, 2008 are as follows:   <![if !supportLists]>·          <![endif]>We received $262.9 million of ownership interests in certain unconsolidated property funds as a portion of our proceeds from the contribution of properties to these property funds in 2008.   <![if !supportLists]>·          <![endif]>We assumed $4.0 million of secured debt and other liabilities in 2008 in connection with the acquisition of properties.   <![if !supportLists]>·          <![endif]>In 2008, we recorded $6.7 million of noncontrolling interest associated with investments made in entities that we consolidate and own less than 100%.   The amount of interest paid in cash, net of amounts capitalized, for the six months ended June 30, 2009 and 2008 was $154.5 million and $169.4 million, respectively.   During the six months ended June 30, 2009 and 2008, cash paid for income taxes was $7.3 million and $51.2 million, respectively. <style> /*<![CDATA[*/  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div>

<div> <a name= "_AUC812bf6879f504823a626ae47e7eda129">5.           Assets Held for</a> Sale and Discontinued Operations:   The operations of the properties held for sale or disposed of to third parties and the aggregate net gains recognized upon their disposition are presented as discontinued operations in our Consolidated Statements of Operations for all periods presented, unless the property was developed under a pre-sale agreement. Interest expense is included in discontinued operations only if it is directly attributable to these operations or properties.   As discussed in Note 2, all of the assets and liabilities associated with our China operations were classified as held for sale in our accompanying Consolidated Balance Sheet as of December 31, 2008, as well as one property in Japan that we sold to GIC RE in April 2009.   During the first six months of 2009, other than our China operations, we disposed of 125 properties to third parties aggregating 13.1 million square feet, 3 of which were development properties. This includes a portfolio of 90 properties that were sold to a single venture and we will continue to act as property manager for the venture. During all of 2008, we disposed of 15 properties to third parties, 6 of which were development properties, as well as land subject to ground leases.   The income (loss) attributable to discontinued operations is summarized as follows (in thousands): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 2.35pt 0in 2.35pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="363" valign="top" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="142" colspan="2" valign="top" style= "width:106.7pt;padding:0in 2.35pt 0in 2.35pt">      Three Months Ended <p class="MsoNormal" align="left" style= "text-align:left;line-height:94%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 51.65pt right 106.55pt;mso-layout-grid-align:none;text-autospace:none">                 June 30,                 </td> <td width="146" colspan="2" valign="top" style= "width:109.3pt;padding:0in 2.35pt 0in 2.35pt">         Six Months Ended <p class="MsoNormal" align="left" style= "margin-right:-6.85pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:0in center 51.65pt right 111.45pt;mso-layout-grid-align:none; text-autospace:none">                 June 30,                   </td> </tr> <tr style="mso-yfti-irow:1"> <td width="363" valign="top" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="71" valign="top" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">        2009    </td> <td width="71" valign="top" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">      2008      </td> <td width="71" valign="top" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">        2009    </td> <td width="75" valign="top" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">      2008      </td> </tr> <tr style="mso-yfti-irow:2"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 306.5pt;mso-layout-grid-align: none;text-autospace:none"> Revenues: </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                               </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                           </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                               </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">                           </td> </tr> <tr style="mso-yfti-irow:3"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> Rental revenue </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $      13,101 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $      24,294 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $      36,021 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt"> $      48,630 </td> </tr> <tr style="mso-yfti-irow:4"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> Other income </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                13 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                93 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">                37 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:41.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Total revenues </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         13,101 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         24,307 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         36,114 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">         48,667 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Expenses: </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                    </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                    </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                    </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">                    </td> </tr> <tr style="mso-yfti-irow:7"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> Rental expenses </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,269 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           7,760 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           9,979 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">         14,762 </td> </tr> <tr style="mso-yfti-irow:8"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> General and administrative </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,818 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           1,305 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">           8,624 </td> </tr> <tr style="mso-yfti-irow:9"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> Depreciation and amortization </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,008 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           8,335 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           8,134 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">         15,786 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;page-break-after: avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace: none"> Other expenses </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">              940 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                  6 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">              940 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:41.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Total expenses </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           6,277 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         20,853 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         19,424 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">         40,112 </td> </tr> <tr style="mso-yfti-irow:12"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Operating income </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           6,824 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,454 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         16,690 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">           8,555 </td> </tr> <tr style="mso-yfti-irow:13"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Total other income, (expense) net </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">        (12,065) </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">              786 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">        (11,010) </td> </tr> <tr style="mso-yfti-irow:14"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Noncontrolling interest share in (earnings) loss </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           5,672 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">             (144) </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">           5,717 </td> </tr> <tr style="mso-yfti-irow:15"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Income (loss) attributable to assets held for sale and disposed properties </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           6,824 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">          (2,939) </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">         17,332 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">           3,262 </td> </tr> <tr style="mso-yfti-irow:16"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 369.0pt;mso-layout-grid-align: none;text-autospace:none"> Net gain related to disposed assets— China operations </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,315 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">                — </td> </tr> <tr style="mso-yfti-irow:17"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace:none"> Net gains recognized on property dispositions </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">       197,213 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">           3,850 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt">       197,024 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt">           7,793 </td> </tr> <tr style="mso-yfti-irow:18;mso-yfti-lastrow:yes"> <td width="363" valign="bottom" style= "width:272.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:7.3pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 369.0pt;mso-layout-grid-align:none;text-autospace:none"> Total discontinued operations </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $    204,037 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $           911 </td> <td width="71" valign="bottom" style= "width:53.35pt;padding:0in 2.35pt 0in 2.35pt"> $    217,671 </td> <td width="75" valign="bottom" style= "width:55.95pt;padding:0in 2.35pt 0in 2.35pt"> $      11,055 </td> </tr> </table>   The following information relates to properties disposed of during the periods presented and recorded as discontinued operations, excluding the China operations and including minor adjustments to previous dispositions (dollars in thousands):   <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-yfti-tbllook: 480;mso-padding-alt:0in 5.4pt 0in 5.4pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="295" valign="top" style= "width:221.4pt;padding:0in 5.4pt 0in 5.4pt">   </td> <td width="180" colspan="2" valign="top" style= "width:135.0pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-right:-5.4pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 62.1pt;mso-layout-grid-align:none;text-autospace:none">           Three Months Ended <p class="MsoNormal" align="left" style= "margin-right:-5.4pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 62.1pt right 143.1pt;mso-layout-grid-align:none; text-autospace:none">                     June 30,                      </td> <td width="174" colspan="2" valign="top" style= "width:130.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-right:-.8pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 62.1pt;mso-layout-grid-align:none;text-autospace:none">             Six Months Ended <p class="MsoNormal" align="left" style= "margin-right:-9.9pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 62.1pt right 134.1pt;mso-layout-grid-align:none; text-autospace:none">                     June 30,                      </td> </tr> <tr style="mso-yfti-irow:1"> <td width="295" valign="top" style= "width:221.4pt;padding:0in 5.4pt 0in 5.4pt">   </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:2.15pt; margin-bottom:0in;margin-left:.9pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 30.6pt left 53.1pt;mso-layout-grid-align:none; text-autospace:none">          2009      </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:2.15pt; margin-bottom:0in;margin-left:.9pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 30.6pt left 53.1pt;mso-layout-grid-align:none; text-autospace:none">          2008      </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:2.15pt; margin-bottom:0in;margin-left:.9pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 30.6pt left 53.1pt;mso-layout-grid-align:none; text-autospace:none">          2009      </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "margin-right:2.15pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 26.1pt left 52.2pt;mso-layout-grid-align:none; text-autospace:none">         2008      </td> </tr> <tr style="mso-yfti-irow:2"> <td width="295" valign="top" style= "width:221.4pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;text-indent:.25in; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 328.5pt;mso-layout-grid-align:none;text-autospace:none"> Number of properties </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:4.5pt 13.5pt right 53.1pt;mso-layout-grid-align: none;text-autospace:none">                   125 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:.05in 13.5pt right 48.6pt;mso-layout-grid-align: none;text-autospace:none">                     2 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:4.5pt 13.5pt right 53.1pt;mso-layout-grid-align: none;text-autospace:none">                   125 </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:.05in 13.5pt right 48.6pt;mso-layout-grid-align: none;text-autospace:none">                     5 </td> </tr> <tr style="mso-yfti-irow:3"> <td width="295" valign="top" style= "width:221.4pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;text-indent:.25in; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 328.5pt;mso-layout-grid-align:none;text-autospace:none"> Net proceeds from dispositions </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt">   $       666,806 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:0in .05in right 48.6pt;mso-layout-grid-align: none;text-autospace:none">   $       29,390 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt">   $       666,806 </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:0in .05in right 48.6pt;mso-layout-grid-align: none;text-autospace:none">   $       66,500 </td> </tr> <tr style="mso-yfti-irow:4;mso-yfti-lastrow:yes"> <td width="295" valign="top" style= "width:221.4pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;text-indent:.25in; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 328.5pt;mso-layout-grid-align:none;text-autospace:none"> Net gains from dispositions </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt">   $       197,213 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:0in .05in right 48.6pt;mso-layout-grid-align: none;text-autospace:none">   $         3,850 </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.4pt 0in 5.4pt">   $       197,024 </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.4pt 0in 5.4pt"> <p class="MsoNormal" align="left" style= "text-align:left;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:0in .05in right 48.6pt;mso-layout-grid-align: none;text-autospace:none">   $         7,793 </td> </tr> </table> <style> /*<![CDATA[*/ st1:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div>

<div> <a name= "_AUCf5219a46f1b64354bd199ded49714128">4.           Unconsolidated Investees:</a>   Summary of Investments   Our investments in and advances to unconsolidated investees, which are accounted for under the equity method, are summarized by type of investee as follows (in thousands): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 5.5pt 0in 5.5pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="427" valign="top" style= "width:320.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 431.35pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 44.15pt;mso-layout-grid-align:none;text-autospace:none">     June 30, <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 48.5pt;mso-layout-grid-align:none;text-autospace:none">         2009     </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 21.5pt left 48.5pt;mso-layout-grid-align:none;text-autospace:none"> December 31, <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 21.5pt left 48.5pt;mso-layout-grid-align:none;text-autospace:none">       2008        </td> </tr> <tr style="mso-yfti-irow:1"> <td width="427" valign="bottom" style= "width:320.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 431.35pt;mso-layout-grid-align:none;text-autospace:none"> Property funds </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none"> $   1,670,608 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none"> $   1,957,977 </td> </tr> <tr style="mso-yfti-irow:2"> <td width="427" valign="bottom" style= "width:320.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 431.35pt;mso-layout-grid-align:none;text-autospace:none"> Other investees </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none">         326,989 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none">         312,016 </td> </tr> <tr style="mso-yfti-irow:3;mso-yfti-lastrow:yes"> <td width="427" valign="bottom" style= "width:320.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.55pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 431.35pt;mso-layout-grid-align:none;text-autospace:none"> Totals </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none"> $   1,997,597 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 47.5pt;mso-layout-grid-align:none;text-autospace:none"> $   2,269,993 </td> </tr> </table>   Property Funds   We have investments in several property funds that own portfolios of operating industrial properties. Many of these properties were originally developed by ProLogis and contributed to these property funds, although certain of the property funds have also acquired properties from third parties. When we contribute a property to a property fund, we may receive ownership interests as part of the proceeds generated by the contribution. We earn fees for acting as manager of the property funds and the properties they own. We may earn additional fees by providing other services including, but not limited to, acquisition, development, construction management, leasing and financing activities. We may also earn incentive performance returns based on the investors’ returns over a specified period.   Summarized information regarding our proportionate share of net earnings or loss and fees and incentives related to our investments in property funds is as follows (in thousands): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 5.5pt 0in 5.5pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="349" valign="top" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "text-align:center;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="150" colspan="2" valign="top" style= "width:112.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "text-align:center;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none"> Three Months Ended <p class="MsoNormal" style= "line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:0in center 53.0pt right 107.0pt left dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none">                 June 30,                </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-left:-1.0pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:center 53.0pt left dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none">          Six Months Ended <p class="MsoNormal" style= "margin-left:-1.0pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:-1.0pt center 53.0pt right 111.5pt left dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none">                  June 30,                </td> </tr> <tr style="mso-yfti-irow:1"> <td width="349" valign="top" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="top" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 47.5pt;mso-layout-grid-align:none;text-autospace:none">         2009     </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 23.05pt left 44.0pt;mso-layout-grid-align:none;text-autospace:none">       2008     </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 26.0pt left 47.5pt;mso-layout-grid-align:none;text-autospace:none">         2009     </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: center 23.05pt left 44.0pt;mso-layout-grid-align:none;text-autospace:none">       2008     </td> </tr> <tr style="mso-yfti-irow:2"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none"> Earnings (loss) from unconsolidated property funds: </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 39.0pt;mso-layout-grid-align:none;text-autospace:none">                  </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 42.55pt;mso-layout-grid-align:none;text-autospace:none">                    </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 39.0pt;mso-layout-grid-align:none;text-autospace:none">                  </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 42.55pt;mso-layout-grid-align:none;text-autospace:none">                    </td> </tr> <tr style="mso-yfti-irow:3"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:4.5pt;margin-bottom:.0001pt;text-indent:-4.5pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none">    North America </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $          9,495 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       10,859 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $             953 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       (6,236) </td> </tr> <tr style="mso-yfti-irow:4"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:4.5pt;margin-bottom:.0001pt;text-indent:-4.5pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none">    Europe </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             7,201 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">            5,940 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">           15,075 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">            9,730 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:4.5pt;margin-bottom:.0001pt;text-indent:-4.5pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 377.45pt;mso-layout-grid-align:none;text-autospace:none">    Asia </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">                702 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">          19,754 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             3,468 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">          14,492 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:40.5pt;margin-bottom:.0001pt;text-align:left; text-indent:-27.0pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 377.45pt;mso-layout-grid-align:none; text-autospace:none"> Total earnings from unconsolidated property funds </td> <td width="72" valign="top" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        17,398 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       36,553 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        19,496 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       17,986 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-right:5.05pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:8"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-right:5.05pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none"> Property management and other fees and incentives: </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:9"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.55pt;margin-bottom:.0001pt;text-indent:-9.55pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:.25in dotted 377.45pt;mso-layout-grid-align:none;text-autospace: none">    North America </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        15,325 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       15,523 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        30,795 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       29,311 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.55pt;margin-bottom:.0001pt;text-indent:-9.55pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:.25in dotted 377.45pt;mso-layout-grid-align:none;text-autospace: none">    Europe </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">           12,282 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">          12,878 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">           24,732 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">          24,776 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.55pt;margin-bottom:.0001pt;text-indent:-9.55pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:.25in dotted 377.45pt;mso-layout-grid-align:none;text-autospace: none">    Asia </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">                332 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">            4,179 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none">             2,175 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none">            7,983 </td> </tr> <tr style="mso-yfti-irow:12;mso-yfti-lastrow:yes"> <td width="349" valign="bottom" style= "width:262.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:40.5pt;margin-bottom:.0001pt;text-align:left; text-indent:-27.0pt;line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:dotted 377.45pt;mso-layout-grid-align:none; text-autospace:none"> Total property management and other fees and incentives </td> <td width="72" valign="top" style= "width:.75in;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        27,939 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       32,580 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 48.5pt;mso-layout-grid-align:none;text-autospace:none"> $        57,702 </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in decimal 44.0pt;mso-layout-grid-align:none;text-autospace:none"> $       62,070 </td> </tr> </table>   We also earned property management fees from joint ventures and other entities of $3.8 million and $7.7 million during the three and six months ended June 30, 2009, respectively. This includes fees earned from the Japan property funds after February 2009, which is the date we sold our investments in the funds.   Information about our investments in the property funds is as follows (dollars in thousands):   <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 5.5pt 0in 5.5pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="319" valign="top" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt">   </td> <td width="162" colspan="2" valign="top" style= "width:121.5pt;padding:0in 5.5pt 0in 5.5pt">     Ownership Percentage     </td> <td width="174" colspan="2" valign="top" style= "width:130.5pt;padding:0in 5.5pt 0in 5.5pt">   Investment in and Advances to </td> </tr> <tr style="mso-yfti-irow:1"> <td width="319" valign="top" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt">   </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">     June 30, </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> December 31, </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">     June 30, </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> December 31, </td> </tr> <tr style="mso-yfti-irow:2"> <td width="319" valign="top" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> Property Fund </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">         2009       </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt">       2008       </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">         2009      </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">       2008      </td> </tr> <tr style="mso-yfti-irow:3"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> ProLogis California </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 50.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       50.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt"> $     110,086 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $     102,685 </td> </tr> <tr style="mso-yfti-irow:4"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> ProLogis North American Properties Fund I </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 41.3% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       41.3% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 44.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">          23,625 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          25,018 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund VI </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          34,760 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          35,659 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund VII </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          32,556 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          32,679 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund VIII </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          12,868 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          13,281 </td> </tr> <tr style="mso-yfti-irow:8"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund IX </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          13,036 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          13,375 </td> </tr> <tr style="mso-yfti-irow:9"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund X </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          15,231 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          15,567 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Properties Fund XI </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          30,123 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          28,322 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> ProLogis North American Industrial Fund </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 23.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt">       23.1% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">        192,398 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        191,088 </td> </tr> <tr style="mso-yfti-irow:12"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Industrial Fund II (1) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 36.9% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       36.9% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">        263,796 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        265,575 </td> </tr> <tr style="mso-yfti-irow:13"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis North American Industrial Fund III </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">        144,968 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        122,148 </td> </tr> <tr style="mso-yfti-irow:14"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis Mexico Industrial Fund </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 24.2% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       24.2% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          91,191 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          96,320 </td> </tr> <tr style="mso-yfti-irow:15"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis European Properties (“PEPR”) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 24.8% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       24.9% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">        312,711 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        321,984 </td> </tr> <tr style="mso-yfti-irow:16"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis European Properties Fund II (“PEPF II”) (2) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 33.3% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       36.9% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">        372,056 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        312,600 </td> </tr> <tr style="mso-yfti-irow:17"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis Korea Fund </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> 20.0% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">          21,203 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">          21,867 </td> </tr> <tr style="mso-yfti-irow:18"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 431.35pt;mso-layout-grid-align: none;text-autospace:none"> ProLogis Japan Property Funds (3) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="center" style= "margin-top:0in;margin-right:-5.5pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:center; text-indent:-5.05pt;line-height:93%;page-break-after:avoid;tab-stops:right 30.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none"> - </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 35.0pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">       20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">                   - </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">        359,809 </td> </tr> <tr style="mso-yfti-irow:19;mso-yfti-lastrow:yes"> <td width="319" valign="bottom" style= "width:239.5pt;padding:0in 5.5pt 0in 5.5pt"> Totals </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 39.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-5.5pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;page-break-after:avoid;tab-stops:right 39.5pt left dotted 431.35pt; mso-layout-grid-align:none;text-autospace:none">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt"> $  1,670,608 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $  1,957,977 </td> </tr> </table> __________ <![if !supportLists]>(1)     <![endif]>On July 1, 2009, we and our fund partner amended a loan agreement and the governing documents of this property fund. The property fund extended the term of a $411.3 million loan payable to an affiliate of our fund partner, which was scheduled to mature in July 2009, until 2014 with an option for an additional extension until 2016. As part of the restructuring we made an $85 million cash capital contribution to the property fund and we may be required to make an additional cash contribution of up to $25 million for the repayment of debt or other obligations. In addition, we pledged properties we own directly, valued at approximately $250 million, to serve as additional collateral on the $411.3 million loan. As a result,  we are entitled to receive a 10% preferred distribution on all new contributions paid out of operating cash flow prior to other distributions. Upon liquidation of the property fund, we are entitled to receive a 10% preferred return per annum on our initial equity investment and the return of our total investment prior to any other distributions. Our ownership interest remains unchanged.     <![if !supportLists]>(2)     <![endif]>During 2008, PEPR owned approximately 30% of PEPF II. In December 2008, we purchased a 20% ownership interest in PEPF II from PEPR. In February 2009, PEPR sold its remaining 10% interest in PEPF II.   <![if !supportLists]>(3)     <![endif]>On February 9, 2009, we sold our interests in the Japan property funds resulting in the recognition of a gain of $180.2 million and current income tax expense of $20.5 million (see Note 2).   Several property funds have equity commitments from us and our fund partners. We may fulfill our equity commitment through property fund contributions or cash. Our fund partners fulfill the commitment with cash. To the extent a property fund acquires properties from a third party or requires cash to pay-off debt or has other cash needs, we may be required or agree to contribute our proportionate share of the equity component in cash to the property fund. During the six months ended June 30, 2009, we made a cash contribution of $64.6 million (in respect of our 20% ownership interest that we acquired from PEPR in December 2008) in connection with the contribution of 20 properties to PEPF II and $5.2 million for the repayment of debt by ProLogis North American Industrial Fund. In addition, during the second quarter, we made a cash capital contribution of $2.9 million to ProLogis North American Properties Fund XI for the repayment of debt.   Summarized financial information of the property funds (for the entire entity, not our proportionate share) and our investment in such funds is presented below (dollars in millions): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:4.05pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 4.05pt 0in 4.05pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes;height:.05in"> <td width="310" valign="top" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:.05in">   </td> <td width="338" colspan="4" valign="top" style= "width:253.3pt;padding:0in 4.05pt 0in 4.05pt; height:.05in">                                                  2009                                                    </td> </tr> <tr style="mso-yfti-irow:1;height:14.85pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:14.85pt">   </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:14.85pt"> North      America     </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:14.85pt">       Europe    </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:14.85pt">          Asia        </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:14.85pt">         Total      </td> </tr> <tr style="mso-yfti-irow:2;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;page-break-after:avoid;tab-stops:dotted 196.35pt;mso-layout-grid-align: none;text-autospace:none"> For the three months ended June 30, 2009: </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> </tr> <tr style="mso-yfti-irow:3;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Revenues </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       217.7 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       177.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $           2.7 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       398.3 </td> </tr> <tr style="mso-yfti-irow:4;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none;mso-prop-change:Heather Purnell 20080603T1411"> Net earnings (1)(2) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         13.4 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         17.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $           3.5 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         34.8 </td> </tr> <tr style="mso-yfti-irow:5;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;page-break-after:avoid;tab-stops:dotted 196.35pt;mso-layout-grid-align: none;text-autospace:none"> For the six months ended June 30, 2009: </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> </tr> <tr style="mso-yfti-irow:6;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Revenues </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       436.5 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       344.5 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         35.6 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       816.6 </td> </tr> <tr style="mso-yfti-irow:7;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none;mso-prop-change:Heather Purnell 20080603T1411"> Net earnings (loss) (1)(2) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       (18.7) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         36.7 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         14.5 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         32.5 </td> </tr> <tr style="mso-yfti-irow:8;height:12.15pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:12.15pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> As of June 30, 2009: </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:12.15pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.15pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.15pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.15pt">   </td> </tr> <tr style="mso-yfti-irow:9;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Total assets </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    9,888.5 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    8,530.7 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       145.1 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $ 18,564.3 </td> </tr> <tr style="mso-yfti-irow:10;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Amounts due to us (3) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         49.4 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         24.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $           0.2 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         74.5 </td> </tr> <tr style="mso-yfti-irow:11;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Third party debt (4) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    5,618.5 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    4,141.5 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         43.7 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    9,803.7 </td> </tr> <tr style="mso-yfti-irow:12;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Total liabilities </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    5,917.8 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    4,996.6 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         48.1 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $  10,962.5 </td> </tr> <tr style="mso-yfti-irow:13;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Noncontrolling interest </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $           1.4 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         13.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $            — </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         15.3 </td> </tr> <tr style="mso-yfti-irow:14;height:13.05pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.05pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Fund partners’ equity </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.05pt"> $    3,969.3 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.05pt"> $    3,520.2 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.05pt"> $         97.1 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.05pt"> $    7,586.6 </td> </tr> <tr style="mso-yfti-irow:15;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Our weighted average ownership (5) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">            27.5% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">            28.9% </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">            20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">            28.1% </td> </tr> <tr style="mso-yfti-irow:16;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;page-break-after:avoid;tab-stops:dotted 229.95pt;mso-layout-grid-align: none;text-autospace:none"> Our investment balance (1)(6) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       964.6 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       684.8 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         21.2 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $    1,670.6 </td> </tr> <tr style= "mso-yfti-irow:17;mso-yfti-lastrow:yes;height:13.5pt"> <td width="310" valign="bottom" style= "width:232.7pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:27.45pt;margin-bottom:.0001pt;text-indent:-18.1pt;line-height: 94%;page-break-after:avoid;tab-stops:dotted 229.95pt 234.45pt;mso-layout-grid-align: none;text-autospace:none"> Deferred gains, net of amortization (7) </td> <td width="86" valign="bottom" style= "width:64.3pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       244.0 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       295.2 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $            — </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       539.2 </td> </tr> </table>   <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:4.05pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 4.05pt 0in 4.05pt"> <tr style= "mso-yfti-irow:0;mso-yfti-firstrow:yes;height:7.65pt"> <td width="312" valign="top" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:7.65pt">   </td> <td width="336" colspan="4" valign="top" style= "width:3.5in;padding:0in 4.05pt 0in 4.05pt; height:7.65pt">                                                 2008                                                    </td> </tr> <tr style="mso-yfti-irow:1;height:9.9pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:9.9pt">   </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:9.9pt"> <p class="MsoNormal" align="center" style= "text-align:center;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 1.75pt center 16.5pt left 56.2pt;mso-layout-grid-align:none;text-autospace: none"> North <p class="MsoNormal" style= "line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:1.75pt center 27.45pt left 56.2pt; mso-layout-grid-align:none;text-autospace:none">      America    </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:9.9pt">       Europe    </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:9.9pt"> <p class="MsoNormal" align="center" style= "text-align:center;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 1.75pt center 16.5pt 17.85pt left 35.7pt 56.2pt;mso-layout-grid-align:none; text-autospace:none">   <p class="MsoNormal" style= "line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:1.75pt center 27.45pt left 56.2pt; mso-layout-grid-align:none;text-autospace:none">          Asia        </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:9.9pt"> <p class="MsoNormal" style= "line-height:93%;mso-pagination:widow-orphan lines-together; page-break-after:avoid;tab-stops:1.75pt center 27.45pt left 49.95pt; mso-layout-grid-align:none;text-autospace:none">         Total      </td> </tr> <tr style="mso-yfti-irow:2;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 178.0pt;mso-layout-grid-align:none;text-autospace:none"> For the three months ended June 30, 2008: </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 40.95pt; mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:3;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 229.95pt;mso-layout-grid-align:none;text-autospace:none"> Revenues </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       206.2 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       166.1 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         70.1 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 36.45pt; mso-layout-grid-align:none;text-autospace:none"> $        442.4 </td> </tr> <tr style="mso-yfti-irow:4;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Net earnings (1) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         17.8 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         21.1 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         92.6 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 36.45pt; mso-layout-grid-align:none;text-autospace:none"> $        131.5 </td> </tr> <tr style="mso-yfti-irow:5;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 178.0pt;mso-layout-grid-align:none;text-autospace:none"> For the six months ended June 30, 2008: </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 40.95pt; mso-layout-grid-align:none;text-autospace:none">   </td> </tr> <tr style="mso-yfti-irow:6;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 229.95pt;mso-layout-grid-align:none;text-autospace:none"> Revenues </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       406.2 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       308.6 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       135.2 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 36.45pt; mso-layout-grid-align:none;text-autospace:none"> $        850.0 </td> </tr> <tr style="mso-yfti-irow:7;height:13.5pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Net earnings (loss) (1) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $       (41.5) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         27.2 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> $         59.9 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:13.5pt"> <p class="MsoNormal" style= "margin-right:4.9pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 36.45pt; mso-layout-grid-align:none;text-autospace:none"> $          45.6 </td> </tr> <tr style="mso-yfti-irow:8;height:12.6pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.6pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:-.05in;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> As of December 31, 2008: </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.6pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.6pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.6pt">   </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.6pt">   </td> </tr> <tr style="mso-yfti-irow:9;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Total assets </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    9,979.2 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    8,982.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    5,821.6 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $   24,783.7 </td> </tr> <tr style="mso-yfti-irow:10;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Amounts due to us </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $         30.2 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $         22.4 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $       147.4 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $        200.0 </td> </tr> <tr style="mso-yfti-irow:11;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Third party debt (4) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    5,726.0 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    4,829.9 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    2,906.5 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $   13,462.4 </td> </tr> <tr style="mso-yfti-irow:12;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Total liabilities </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    5,985.4 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    5,581.1 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    3,855.1 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $   15,421.6 </td> </tr> <tr style="mso-yfti-irow:13;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Noncontrolling interest </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $         10.7 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $         19.8 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $            — </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $          30.5 </td> </tr> <tr style="mso-yfti-irow:14;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Fund partners’ equity </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    3,983.1 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    3,382.0 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $    1,966.5 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $     9,331.6 </td> </tr> <tr style="mso-yfti-irow:15;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Our weighted average ownership (5) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-right:4.95pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 33.25pt; mso-layout-grid-align:none;text-autospace:none">            27.5% </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt">            30.2% </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-right:.4pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 33.25pt; mso-layout-grid-align:none;text-autospace:none">            20.0% </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt">             26.9% </td> </tr> <tr style="mso-yfti-irow:16;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:.05in;margin-bottom:.0001pt;text-indent:5.85pt;line-height: 93%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 234.45pt;mso-layout-grid-align:none;text-autospace:none"> Our investment balance (1)(6) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-right:4.95pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 33.25pt; mso-layout-grid-align:none;text-autospace:none"> $       941.7 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $       634.6 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $       381.7 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $     1,958.0 </td> </tr> <tr style= "mso-yfti-irow:17;mso-yfti-lastrow:yes;height:12.75pt"> <td width="312" valign="bottom" style= "width:3.25in;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:.05in;margin-bottom: 0in;margin-left:27.45pt;margin-bottom:.0001pt;text-indent:-18.1pt;line-height: 94%;mso-pagination:widow-orphan lines-together;page-break-after:avoid; tab-stops:dotted 229.95pt 234.45pt;mso-layout-grid-align:none;text-autospace: none"> Deferred gains, net of amortization (7) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> <p class="MsoNormal" style= "margin-right:4.95pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:0in decimal 33.25pt; mso-layout-grid-align:none;text-autospace:none"> $       246.7 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $       299.0 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $       163.3 </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 4.05pt 0in 4.05pt; height:12.75pt"> $        709.0 </td> </tr> </table> __________   <![if !supportLists]>(1)     <![endif]>In North America, certain property funds are or have been a party to interest rate swap contracts that were initially designated as cash flow hedges and used to mitigate interest expense volatility associated with movements of interest rates in future debt issuances. Certain of these derivative contracts no longer meet the requirements for hedge accounting and, therefore, the changes in fair value of these contracts are recorded through earnings, along with the gain or loss on settlement of the contracts.   In Japan, each of the property funds were party to interest rate swap contracts that did not qualify for hedge accounting and all of the change in value was recorded through earnings.   The following table represents the gain (loss) recognized by the property funds, on a combined basis, related to derivative activity (in thousands).   <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:20.35pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 2.35pt 0in 2.35pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="282" valign="top" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt">     </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 2.35pt 0in 2.35pt"> Three Months Ended                  June 30,                 </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 2.35pt 0in 2.35pt"> Six Months Ended                 June 30,                   </td> </tr> <tr style="mso-yfti-irow:1"> <td width="282" valign="top" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         2009      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2008      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2009      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2008      </td> </tr> <tr style="mso-yfti-irow:2"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:3"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none"> North America property funds </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $           13,343 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $           17,976 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        (13,045) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        (40,175) </td> </tr> <tr style="mso-yfti-irow:4"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none"> Japan property funds </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                    — </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">              71,747 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                    — </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             20,063 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none"> Total gain (loss) related to derivative activity </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $           13,343 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $           89,723 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        (13,045) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        (20,112) </td> </tr> <tr style="mso-yfti-irow:6"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:7;mso-yfti-lastrow:yes"> <td width="282" valign="bottom" style= "width:211.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:5.05pt;margin-bottom:.0001pt;text-align:left; text-indent:-5.05pt;line-height:93%;tab-stops:dotted 441.0pt;mso-layout-grid-align: none;text-autospace:none"> Our proportionate share of earnings (loss) from unconsolidated property funds derivative activity </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $             4,920 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        20,977 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $          (4,810) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $       (10,642) </td> </tr> </table>   As of June 30, 2009, ProLogis North American Industrial Fund II had outstanding interest rate swap contracts, with notional amounts aggregating $223.2 million resulting in a liability at fair value of $29.9 million and swap rates ranging from 5.73% to 5.83%.   <![if !supportLists]>(2)     <![endif]>In June 2009, PEPR sold 10 properties that resulted in a loss of $19.3 million.   <![if !supportLists]>(3)     <![endif]>During the first quarter of 2009, we and our fund partner each loaned $25.4 million to ProLogis North American Industrial Fund III that was used to repay maturing debt of the property fund. These notes will be paid with operating cash flow, mature at dissolution of the property fund and bear interest at LIBOR plus 8%. As of June 30, 2009, the outstanding balance was $24.3 million. In addition, as of June 30, 2009 and December 31, 2008, ProLogis Mexico Industrial Fund had a note payable to us for $14.3 million and $15.2 million, respectively. The remaining amounts represent current balances from services provided.   <![if !supportLists]>(4)     <![endif]>As of June 30, 2009 and December 31, 2008, we had not guaranteed any of the third party debt of the property funds. As of July 1, 2009, in connection with the restructuring and amendment of the partnership and loan agreements discussed earlier, we pledged properties we own, valued at approximately $250 million, to serve as additional collateral for the $411.3 million loan of ProLogis North American Industrial Fund II payable to an affiliate of our fund partner.    <![if !supportLists]>(5)     <![endif]>Represents our weighted average ownership interest in all property funds based on each entity’s contribution to total assets, before depreciation, net of other liabilities.   <![if !supportLists]>(6)     <![endif]>The difference between our ownership interest of the property fund’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of one of our properties to a property fund as a result of our continuing ownership in the property (see next footnote); (ii) recording additional costs associated with our investment in the property fund; and (iii) advances to the property fund.   <![if !supportLists]>(7)     <![endif]>This amount is recorded as a reduction to our investment and represents the gains that were deferred when we contributed a property to a property fund due to our continuing ownership in the property.   Other unconsolidated investees   At June 30, 2009, we had investments in entities that develop and own industrial and retail properties, perform land and mixed-use development activity, own a hotel and own office properties. The amounts we have recognized as our proportionate share of the earnings (loss) from our investments in these investees are summarized as follows (in thousands): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 5.5pt 0in 5.5pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="325" valign="top" style= "width:244.0pt;padding:0in 5.5pt 0in 5.5pt">   </td> <td width="174" colspan="2" valign="top" style= "width:130.5pt;padding:0in 5.5pt 0in 5.5pt">           Three Months Ended                     June 30,                  </td> <td width="162" colspan="2" valign="top" style= "width:121.5pt;padding:0in 5.5pt 0in 5.5pt">             Six Months Ended                     June 30,                </td> </tr> <tr style="mso-yfti-irow:1"> <td width="325" valign="top" style= "width:244.0pt;padding:0in 5.5pt 0in 5.5pt">   </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">           2009       </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">         2008       </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">           2009      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt">         2008       </td> </tr> <tr style="mso-yfti-irow:2"> <td width="325" valign="bottom" style= "width:244.0pt;padding:0in 5.5pt 0in 5.5pt"> North America </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt"> $                604 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $           5,624 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $            2,588 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> $           7,888 </td> </tr> <tr style="mso-yfti-irow:3"> <td width="325" valign="bottom" style= "width:244.0pt;padding:0in 5.5pt 0in 5.5pt"> Europe </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt">                   738 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">               (373) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt">                  955 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt">               (667) </td> </tr> <tr style="mso-yfti-irow:4;mso-yfti-lastrow:yes"> <td width="325" valign="bottom" style= "width:244.0pt;padding:0in 5.5pt 0in 5.5pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:5.05pt; margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-align:left; text-indent:-27.0pt;line-height:93%;page-break-after:avoid;tab-stops:.25in dotted 377.45pt; mso-layout-grid-align:none;text-autospace:none">     Total earnings from other unconsolidated investees................................................................. </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 5.5pt 0in 5.5pt"> $             1,342 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $           5,251 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 5.5pt 0in 5.5pt"> $            3,543 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 5.5pt 0in 5.5pt"> $           7,221 </td> </tr> </table>   Our investments in and advances to these entities are as follows (in thousands): <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "border-collapse:collapse;mso-table-layout-alt:fixed;mso-padding-alt: 0in 2.35pt 0in 2.35pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="411" valign="top" style= "width:308.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: dotted 424.1pt;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="90" valign="top" style= "width:67.5pt;padding:0in 2.35pt 0in 2.35pt">         June 30, <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:2.15pt; margin-bottom:0in;margin-left:2.15pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 33.65pt left 56.15pt;mso-layout-grid-align:none; text-autospace:none">           2009      </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:-2.35pt;margin-bottom: 0in;margin-left:2.15pt;margin-bottom:.0001pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:center 29.15pt left 65.15pt; mso-layout-grid-align:none;text-autospace:none"> December 31, <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:6.65pt; margin-bottom:0in;margin-left:2.15pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:widow-orphan lines-together;page-break-after: avoid;tab-stops:center 29.15pt left 51.65pt;mso-layout-grid-align:none; text-autospace:none">         2008      </td> </tr> <tr style="mso-yfti-irow:1"> <td width="411" valign="bottom" style= "width:308.35pt;padding:0in 2.35pt 0in 2.35pt"> North America </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:94%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 2.15pt decimal 56.15pt;mso-layout-grid-align:none;text-autospace:none"> $         148,648 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in 2.15pt decimal 51.65pt;mso-layout-grid-align:none;text-autospace:none"> $       150,963 </td> </tr> <tr style="mso-yfti-irow:2"> <td width="411" valign="bottom" style= "width:308.35pt;padding:0in 2.35pt 0in 2.35pt"> Europe (1) </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:94%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 2.15pt decimal 56.15pt;mso-layout-grid-align:none;text-autospace:none">             178,341 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in 2.15pt decimal 51.65pt;mso-layout-grid-align:none;text-autospace:none">           161,053 </td> </tr> <tr style="mso-yfti-irow:3;mso-yfti-lastrow:yes"> <td width="411" valign="bottom" style= "width:308.35pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:27.0pt;margin-bottom:.0001pt;line-height:93%;mso-pagination: widow-orphan lines-together;page-break-after:avoid;tab-stops:dotted 6.0in; mso-layout-grid-align:none;text-autospace:none"> Total </td> <td width="90" valign="bottom" style= "width:67.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 2.15pt decimal 56.15pt;mso-layout-grid-align:none;text-autospace:none"> $         326,989 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" align="left" style= "text-align:left;line-height:93%; mso-pagination:widow-orphan lines-together;page-break-after:avoid;tab-stops: 0in 2.15pt decimal 51.65pt;mso-layout-grid-align:none;text-autospace:none"> $       312,016 </td> </tr> </table> _________ (1)           Included in this balance is $136.8 million, representing our 25% investment in and advances to a joint venture that develops retail and mixed use properties.  In light of the current environment, we have been evaluating our options associated with this investment. During the second quarter of 2009, the management of this company implemented a restructuring plan. The plan will include using the proceeds received from the orderly disposition of assets to repay debt and return capital to the equity investees. We believe that we will recover our investment based on the current plan, however, we will continue to monitor the progress in executing the plan and thereby our ability to realize our investment. <style> /*<![CDATA[*/ st1:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div>

<div> <a name= "_AUC6c718a96297d4dc388e5208c02922204">10.        Business Segments:</a>   As discussed in Note 1, we modified our business strategy during the fourth quarter of 2008 to no longer focus on the CDFS business segment. We made contributions and dispositions of CDFS properties through December 2008 and have reported the results of operations of this activity within this business segment. As of December 31, 2008, we transferred all of the assets from the CDFS business segment into our two remaining segments. We now intend to principally hold the properties we had previously planned to contribute, and, therefore, we have transferred these assets to our direct owned segment. The investments we have in joint ventures have been transferred to our investment management segment. Our current segments are as follows:   <![if !supportLists]>·          <![endif]>Direct Owned — representing the direct long-term ownership of industrial distribution and retail properties. Each operating property is considered to be an individual operating segment having similar economic characteristics that are combined within the reportable segment based upon geographic location. We own real estate in North America (Canada, Mexico and the United States), Europe (Austria, Belgium, the Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Romania, Slovakia, Spain, Sweden and the United Kingdom) and Asia (Japan and South Korea). Also included in this segment is the development of properties for continued direct ownership, including land held for development and properties currently under development. In addition, in 2009, we also include the land we own and lease to customers under ground leases that was previously included in our other operating segments. Therefore, we have reclassified 2008 amounts to conform to the 2009 presentation.   <![if !supportLists]>·          <![endif]>Investment Management — representing the long-term investment management of property funds and industrial and retail joint ventures and the properties they own. We recognize our proportionate share of the earnings or losses from our investments in unconsolidated property funds and certain joint ventures operating in North America, Europe and Asia. Along with the income recognized under the equity method, we include fees and incentives earned for services performed on behalf of the unconsolidated investees and interest income earned on advances to unconsolidated investees, if any. We utilize our leasing and property management expertise to efficiently manage the properties and our unconsolidated investees, and we allocate the costs as Investment Management Expenses in this segment. Each investment in a property fund or joint venture is considered to be an individual operating segment having similar economic characteristics that are combined within the reportable segment based upon geographic location. Our operations in the investment management segment are in North America (Canada, Mexico and the United States), Europe (Belgium, the Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia, Spain, Sweden, and the United Kingdom), and Asia (Japan, through January 2009, and South Korea).   In addition, throughout 2008, we operated a third segment. As discussed above, due to changes in our business strategy, we no longer have a CDFS business segment in 2009, other than as discussed below for the sale of our investments in Japan.   <![if !supportLists]>·          <![endif]>CDFS business — primarily encompassed our development or acquisition of real estate properties that were subsequently contributed to a property fund in which we had an ownership interest and acted as manager, or sold to third parties. The proceeds and related costs of these dispositions are presented as Developed and Repositioned Properties in the Consolidated Statements of Operations. In addition, we occasionally acquired a portfolio of properties with the intent of contributing the portfolio to an existing or future property fund. The proceeds and related costs of these dispositions are presented as Acquired Property Portfolios in the Consolidated Statements of Operations. During the period between the completion of development or acquisition of a property and the date the property is contributed to a property fund or sold to a third party, the property and its associated rental income and rental expenses were included in the direct owned segment because the primary activity associated with the property during that period was leasing. Upon contribution or sale, the resulting gain or loss was included in the income of the CDFS business segment. The separate activities in this segment were considered to be individual operating segments having similar economic characteristics that are combined within the reportable segment based upon geographic location. When a property that we originally contributed to a property fund was sold to a third party, we recognized any gain that was deferred due to our ownership interest in the property fund at the time of contribution as CDFS proceeds.  In 2009, the only activity being reported in the CDFS segment is the gain on sale of our investments in the Japan property funds as it is essentially the recognition of gains from this segment that were deferred due to our ownership interests at the time of the contribution. Our CDFS business segment operations in 2008 were in North America (Canada, Mexico and the United States), in Europe (the Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia, Spain, Sweden and the United Kingdom) and in Asia (Japan and South Korea).   As a result of the changes in our business strategy and segments, we have restated the operating results of certain items in prior years to agree to the current year segment presentation. We are including the earnings (loss) recognized from our investments in retail and industrial joint ventures that were previously reported in our CDFS business segment in the investment management segment and certain expenses previously reported in the CDFS business segment are now reported in the direct owned segment.   In addition, we present the operations and net gains associated with properties sold to third parties or classified as held for sale as discontinued operations, which results in the restatement of prior years operating results to exclude the items presented as discontinued operations.   Reconciliations are presented below for: (i) each reportable business segment’s revenue from external customers to our total revenues; (ii) each reportable business segment’s net operating income from external customers to our earnings before income taxes; and (iii) each reportable business segment’s assets to our total assets. Our chief operating decision makers rely primarily on net operating income and similar measures to make decisions about allocating resources and assessing segment performance. The applicable components of our revenues, earnings before income taxes and total assets are allocated to each reportable business segment’s revenues, net operating income and assets. Items that are not directly assignable to a segment, such as certain corporate income and expenses, are reflected as reconciling items. The following reconciliations are presented in thousands:   <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:2.35pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 2.35pt 0in 2.35pt"> <thead> <tr style= "mso-yfti-irow:0;mso-yfti-firstrow:yes;height:23.4pt"> <td width="330" valign="top" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt; height:23.4pt">   </td> <td width="150" colspan="2" valign="top" style= "width:112.5pt;padding:0in 2.35pt 0in 2.35pt; height:23.4pt">                                       Three Months Ended                   June 30,                </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 2.35pt 0in 2.35pt; height:23.4pt">                                        Six Months Ended                 June 30,                 </td> </tr> <tr style="mso-yfti-irow:1"> <td width="330" valign="top" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2009       </td> <td width="72" valign="top" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">        2008       </td> <td width="72" valign="top" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">        2009      </td> <td width="84" valign="top" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">          2008      </td> </tr> </thead> <tr style="mso-yfti-irow:2"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Revenues: </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">                      </td> </tr> <tr style="mso-yfti-irow:3"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Direct Owned (1): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                      </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">                      </td> </tr> <tr style="mso-yfti-irow:4"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        204,749 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt"> $      207,604 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt"> $      404,338 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> $        414,249 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             15,742 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           24,750 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           30,892 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             60,102 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             11,151 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">             9,214 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           19,788 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             19,490 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total direct owned segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           231,642 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         241,568 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         455,018 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">           493,841 </td> </tr> <tr style="mso-yfti-irow:8;height:.2in"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt; height:.2in"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Investment management (2): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt; height:.2in">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt; height:.2in">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt; height:.2in">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt; height:.2in">   </td> </tr> <tr style="mso-yfti-irow:9"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             25,027 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           29,037 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           33,182 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             25,838 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             19,878 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           17,923 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           40,187 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             32,727 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">               4,627 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           23,933 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           12,731 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             22,475 </td> </tr> <tr style="mso-yfti-irow:12"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total investment management segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             49,532 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           70,893 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">           86,100 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">             81,040 </td> </tr> <tr style="mso-yfti-irow:13"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> CDFS business (3): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:14"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                     </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         351,359 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">           584,301 </td> </tr> <tr style="mso-yfti-irow:15"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                     </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         583,038 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">        1,391,704 </td> </tr> <tr style="mso-yfti-irow:16"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                     </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         282,101 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         180,237 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">           587,238 </td> </tr> <tr style="mso-yfti-irow:17"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total CDFS business segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                     </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">      1,216,498 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         180,237 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">        2,563,243 </td> </tr> <tr style="mso-yfti-irow:18"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">             Total segment revenues </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           281,174 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">      1,528,959 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">         721,355 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">        3,138,124 </td> </tr> <tr style="mso-yfti-irow:19"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.0pt;margin-bottom:.0001pt;line-height:93%;tab-stops:dotted 6.0in; mso-layout-grid-align:none;text-autospace:none"> Reconciling item (4) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">            (17,758) </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">          (38,313) </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">          (20,692) </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">            (18,970) </td> </tr> <tr style="mso-yfti-irow:20"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">             Total revenues </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        263,416 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt"> $   1,490,646 </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt"> $      700,663 </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt"> $     3,119,154 </td> </tr> <tr style="mso-yfti-irow:21;mso-yfti-lastrow:yes"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="72" valign="bottom" style= "width:.75in;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="84" valign="bottom" style= "width:63.0pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> </table> <![if !supportLineBreakNewLine]> <![endif]>     <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:2.35pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 2.35pt 0in 2.35pt"> <tr style="mso-yfti-irow:0;mso-yfti-firstrow:yes"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 2.35pt 0in 2.35pt">                             Three Months Ended                   June 30,                 </td> <td width="156" colspan="2" valign="top" style= "width:117.0pt;padding:0in 2.35pt 0in 2.35pt">                                Six Months Ended                   June 30,                 </td> </tr> <tr style="mso-yfti-irow:1"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2009      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2008      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          2009      </td> <td width="78" valign="top" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        2008        </td> </tr> <tr style="mso-yfti-irow:2"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:3"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Net operating income: </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:4"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Direct owned operations (1)(5): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:5"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      144,758 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      144,018 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      283,891 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      286,528 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             4,105 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           13,024 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             8,472 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           34,025 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             7,594 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             7,189 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           12,508 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           15,075 </td> </tr> <tr style="mso-yfti-irow:8"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total direct owned segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         156,457 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         164,231 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         304,871 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         335,628 </td> </tr> <tr style="mso-yfti-irow:9"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Investment management (2)(6): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:10"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           19,644 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           23,481 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           21,857 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           14,345 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           16,321 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           13,239 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           32,911 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           23,117 </td> </tr> <tr style="mso-yfti-irow:12"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             2,748 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           21,996 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             9,937 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           18,616 </td> </tr> <tr style="mso-yfti-irow:13"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total investment management segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           38,713 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           58,716 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           64,705 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           56,078 </td> </tr> <tr style="mso-yfti-irow:14"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> CDFS business (3): </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:15"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> North America </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           52,805 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           85,923 </td> </tr> <tr style="mso-yfti-irow:16"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Europe </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           74,970 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         204,617 </td> </tr> <tr style="mso-yfti-irow:17"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Asia </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           71,881 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         180,237 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         187,096 </td> </tr> <tr style="mso-yfti-irow:18"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total CDFS business segment </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         199,656 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         180,237 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         477,636 </td> </tr> <tr style="mso-yfti-irow:19"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">             Total segment net operating income </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         195,170 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         422,603 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         549,813 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         869,342 </td> </tr> <tr style="mso-yfti-irow:20"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:9.0pt;margin-bottom:.0001pt;line-height:93%;tab-stops:dotted 6.0in; mso-layout-grid-align:none;text-autospace:none"> Reconciling items: </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:21"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Earnings from other unconsolidated investees, net </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                982 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             3,491 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             2,347 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             6,237 </td> </tr> <tr style="mso-yfti-irow:22"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> General and administrative expenses </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (41,450) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (49,004) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (89,693) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (93,712) </td> </tr> <tr style="mso-yfti-irow:23"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Reduction in workforce </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">            (6,868) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                  — </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (11,330) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                  — </td> </tr> <tr style="mso-yfti-irow:24"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Impairment of real estate properties (7) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (84,218) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                — </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (84,218) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                — </td> </tr> <tr style="mso-yfti-irow:25"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Depreciation and amortization expense </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (77,973) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (76,686) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (153,759) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (146,813) </td> </tr> <tr style="mso-yfti-irow:26"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Other expenses </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">               (115) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">               (114) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">               (231) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">               (230) </td> </tr> <tr style="mso-yfti-irow:27"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Interest expense </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (83,049) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (94,835) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (175,981) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (190,462) </td> </tr> <tr style="mso-yfti-irow:28"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Interest and other income, net </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                859 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             8,395 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             4,175 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           13,128 </td> </tr> <tr style="mso-yfti-irow:29"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Net gains on dispositions of real estate properties </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             7,904 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             4,664 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             8,792 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">             4,664 </td> </tr> <tr style="mso-yfti-irow:30"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Foreign currency exchange gains (losses), net </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">            (9,025) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           12,949 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">           21,512 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">          (22,904) </td> </tr> <tr style="mso-yfti-irow:31"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Gains on early extinguishment of debt </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         143,280 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                  — </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">         161,208 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">                  — </td> </tr> <tr style="mso-yfti-irow:32"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:32.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;tab-stops:dotted 6.0in;mso-layout-grid-align:none;text-autospace:none"> Total reconciling items </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (149,673) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (191,140) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (317,178) </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">        (430,092) </td> </tr> <tr style="mso-yfti-irow:33"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">             Total earnings before income taxes </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $        45,497 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      231,463 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      232,635 </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt"> $      439,250 </td> </tr> <tr style="mso-yfti-irow:34;mso-yfti-lastrow:yes"> <td width="330" valign="bottom" style= "width:247.5pt;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;tab-stops:45.0pt dotted 423.0pt; mso-layout-grid-align:none;text-autospace:none">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="78" valign="bottom" style= "width:58.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> </table>     <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" style= "margin-left:2.35pt;border-collapse:collapse;mso-table-layout-alt:fixed; mso-padding-alt:0in 2.35pt 0in 2.35pt"> <tr style= "mso-yfti-irow:0;mso-yfti-firstrow:yes;page-break-inside:avoid; height:9.0pt"> <td width="408" rowspan="2" valign="top" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt; height:9.0pt">     </td> <td width="126" valign="top" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt; height:9.0pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:6.65pt;margin-bottom: 0in;margin-left:2.15pt;margin-bottom:.0001pt;line-height:93%;mso-pagination: none;tab-stops:0in center 47.15pt left 87.65pt;mso-layout-grid-align:none; text-autospace:none">              June 30, </td> <td width="108" valign="top" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt; height:9.0pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:6.65pt;margin-bottom: 0in;margin-left:2.15pt;margin-bottom:.0001pt;line-height:93%;mso-pagination: none;tab-stops:0in center 42.65pt left 69.65pt;mso-layout-grid-align:none; text-autospace:none">       December 31, </td> </tr> <tr style= "mso-yfti-irow:1;page-break-inside:avoid;height:9.0pt"> <td width="126" valign="top" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt; height:9.0pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:6.65pt;margin-bottom: 0in;margin-left:2.15pt;margin-bottom:.0001pt;line-height:93%;mso-pagination: none;tab-stops:0in center 47.15pt left 87.65pt;mso-layout-grid-align:none; text-autospace:none">                 2009            </td> <td width="108" valign="top" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt; height:9.0pt"> <p class="MsoNormal" align="left" style= "margin-top:0in;margin-right:2.15pt; margin-bottom:0in;margin-left:2.15pt;margin-bottom:.0001pt;text-align:left; line-height:93%;mso-pagination:none;tab-stops:center 42.65pt left 76.3pt; mso-layout-grid-align:none;text-autospace:none">               2008          </td> </tr> <tr style="mso-yfti-irow:2"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Assets: </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                         </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                            </td> </tr> <tr style="mso-yfti-irow:3"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Direct owned: </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                         </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                            </td> </tr> <tr style="mso-yfti-irow:4"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> North America </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt"> $             9,501,779 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt"> $           9,326,387 </td> </tr> <tr style="mso-yfti-irow:5"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Europe </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                3,713,988 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">              4,177,976 </td> </tr> <tr style="mso-yfti-irow:6"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Asia </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">               1,785,025 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">              1,791,611 </td> </tr> <tr style="mso-yfti-irow:7"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Total direct owned segment </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">             15,000,792 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">            15,295,974 </td> </tr> <tr style="mso-yfti-irow:8"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Investment management: </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:9"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> North America </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                   982,659 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 959,689 </td> </tr> <tr style="mso-yfti-irow:10"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Europe </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                   874,861 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 803,235 </td> </tr> <tr style="mso-yfti-irow:11"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Asia </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                     21,203 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 381,674 </td> </tr> <tr style="mso-yfti-irow:12"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Total investment management segment </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                1,878,723 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">              2,144,598 </td> </tr> <tr style="mso-yfti-irow:13"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;mso-pagination: none;tab-stops:45.0pt dotted 423.0pt;mso-layout-grid-align:none;text-autospace: none">             Total segment assets </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">              16,879,515 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">            17,440,572 </td> </tr> <tr style="mso-yfti-irow:14"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:5.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Reconciling items: </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">   </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">   </td> </tr> <tr style="mso-yfti-irow:15"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Investments in and advances to other unconsolidated investees </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                   144,160 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 150,681 </td> </tr> <tr style="mso-yfti-irow:16"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Cash and cash equivalents </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                     74,183 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 174,636 </td> </tr> <tr style="mso-yfti-irow:17"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Accounts receivable </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                       8,852 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                     2,253 </td> </tr> <tr style="mso-yfti-irow:18"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Other assets </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                     88,137 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">                 190,231 </td> </tr> <tr style="mso-yfti-irow:19"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:14.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Discontinued operations – assets held for sale </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                               - </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">              1,310,754 </td> </tr> <tr style="mso-yfti-irow:20"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:23.05pt;margin-bottom:.0001pt;text-indent:-5.05pt;line-height: 93%;mso-pagination:none;tab-stops:dotted 423.0pt;mso-layout-grid-align:none; text-autospace:none"> Total reconciling items </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt">                   315,332 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt">              1,828,555 </td> </tr> <tr style= "mso-yfti-irow:21;mso-yfti-lastrow:yes;height:4.35pt"> <td width="408" valign="bottom" style= "width:4.25in;padding:0in 2.35pt 0in 2.35pt; height:4.35pt"> <p class="MsoNormal" style= "margin-top:0in;margin-right:5.05pt;margin-bottom: 0in;margin-left:.25in;margin-bottom:.0001pt;line-height:93%;mso-pagination: none;tab-stops:45.0pt dotted 423.0pt;mso-layout-grid-align:none;text-autospace: none">             Total assets </td> <td width="126" valign="bottom" style= "width:94.5pt;padding:0in 2.35pt 0in 2.35pt; height:4.35pt"> $           17,194,847 </td> <td width="108" valign="bottom" style= "width:81.0pt;padding:0in 2.35pt 0in 2.35pt; height:4.35pt"> $        19,269,127 </td> </tr> </table> ____________ <![if !supportLists]>(1)     <![endif]>Includes rental income of our industrial and retail properties and land subject to ground leases, as well as development management and other income.   <![if !supportLists]>(2)     <![endif]>Includes property management and other fees and incentives and our share of the earnings or losses recognized under the equity method from our investments in unconsolidated property funds and certain industrial and retail joint ventures.   <![if !supportLists]>(3)     <![endif]>In 2009, includes the recognition of gains previously deferred from CDFS contributions to the Japan property funds. In 2008, includes proceeds and gains from CDFS property dispositions.   <![if !supportLists]>(4)     <![endif]>Amount represents the earnings or losses from unconsolidated investees that we include in revenues of the investment management segment but we do not present as a component of revenues in our Consolidated Statements of Operations.   <![if !supportLists]>(5)     <![endif]>Also includes rental expenses of our industrial and retail properties and land subject to ground leases, as well as certain expenses associated with land holding and acquisition costs.   <![if !supportLists]>(6)     <![endif]>Also includes the direct costs we incur to manage the property funds and the properties they own.   (7)           In 2009, we recognized impairment charges on certain of our real estate properties in our Direct Owned Segment ($15.7 million in North America and $68.5 million in Europe) as discussed in Note 3. <style> /*<![CDATA[*/ st1:*{behavior:url(#ieooui) }  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} /*]]>*/ </style> </div>

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