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Noncontrolling Interests (Tables)
 12 Months Ended
Dec. 31, 2011
Noncontrolling Interests [Abstract]  
Noncontrolling interest summary
      00000       00000       00000       00000       00000       00000       00000  
    REIT’s
Ownership
Percentage		     Noncontrolling Interest     Total Investment In
Real Estate		     Debt  
     2011           2011                 2010           2011     2010     2011     2010  

Partnerships with exchangeable units (1)

     various     $ 11,173     $     11,189     $ 297,591     $     293,632     $ 26,417     $     26,417  

Prologis Institutional Alliance Fund II (2)

     24.1 %          324,721       -        624,318       -        220,625       -   

PEPR (3)

     93.7 %      106,759       -            4,047,329       -            1,699,587       -   

Mexico Fondo Logistico (AFORES)(2)(4)

     20.0 %      118,580       -        312,914       -        177,000       -   

Prologis AMS (2)

     38.6 %      83,897       -        211,627       -        77,041       -   

Other consolidated entities (2)

     various       90,092       3,943       620,052       58,665       70,140       -   
           

 

 

    

 

 

    

 

 

    

 

 

  

Operating Partnership noncontrolling interests

             735,222       15,132       6,113,831       352,297       2,270,810       26,417  

Limited partners in the Operating Partnership (5)

             58,613       -        -        -        -        -   
           

 

 

    

 

 

    

 

 

    

 

 

  

REIT noncontrolling interests

           $ 793,835     $ 15,132     $ 6,113,831     $ 352,297     $ 2,270,810     $ 26,417  

 

(1) At December 31, 2011 and 2010, there were 1,302,238 and 339,225 limited partnership units, respectively, that were exchangeable into an equal number of shares of the REIT’s common stock. In 2011, no outstanding limited partnership units were exchanged. In 2010, 22,432 limited partnership units were exchanged into an equal number of shares of the REIT’s common stock. The majority of the outstanding limited partnership units are entitled to quarterly cash distributions equal to the quarterly dividends paid on our common stock.

 

(2) Relates to the consolidated investees that were acquired as a result of the Merger.

 

(3) In 2011, we acquired a controlling interest and began consolidating PEPR. For more information on this acquisition see Note 3.

 

(4) In the fourth quarter of 2011, we contributed 18 properties aggregating 4.2 million square feet to this consolidated entity for $234.4 million. As this entity is consolidated, we did not record a gain on this transaction. In addition, NAIF II sold eight properties aggregating 1.2 million square feet for $58.5 million to this same consolidated entity (see Note 6 for more detail on the NAIF II transaction). As a result of these transactions, the noncontrolling interest has increased $106.7 million, which represents our partners’ investment in cash.

 

(5) Relates to the limited partners in the Operating Partnership that were acquired as a result of the Merger. At December 31, 2011, 2,058,730 units are associated with the common limited partners in the Operating Partnership that are exchangeable into an equal number of shares of the REIT’s common stock. The majority of the outstanding limited partnership units are entitled to quarterly cash distributions equal to the quarterly distributions paid on our common stock.