Exhibit 21.1

SUBSIDIARIES OF
PROLOGIS ET. AL.

	Jurisdiction of
Name of Entity	Organization
Subsidiaries engaged in industrial distribution facilities operations and development:
ProLogis Development Services Incorporated	Delaware
ProLogis Limited Partnership—I	Delaware
ProLogis Limited Partnership—II	Delaware
ProLogis Limited Partnership—III	Delaware
ProLogis Limited Partnership—IV	Delaware
ProLogis-IV, Inc.	Delaware
ProLogis—North Carolina (1) Incorporated	Maryland
ProLogis—North Carolina (2) Incorporated	Maryland
ProLogis—North Carolina Limited Partnership	Delaware
ProLogis-North Carolina (3) Incorporated	Delaware
ProLogis Houston Holdings Inc.	Delaware
ProLogis-Kansas City (1) Incorporated	Delaware
Meridian Realty Partners, L.P.	Delaware
MDN/JSC-II Limited Partnership	California
Meridian-Penn, Inc.	California
ProLogis Fraser GP LLC and one subsidiary	Delaware
International Industrial Investments Incorporated	Maryland
PLD International Incorporated and twenty-two subsidiaries in foreign countries	Delaware
ProLogis-France Developments Incorporated and thirty-six subsidiaries in foreign countries	Delaware

ProLogis Developments Holdings Sarl and one hundred thirty three subsidiaries in foreign countries	Luxembourg
ProLogis UK Development Sarl and two subsidiaries in foreign countries	Luxembourg
ProLogis UK Holdings S.A. and one-hundred sixteen subsidiaries in foreign countries	Luxembourg
PLD Finance Sarl and seven subsidiaries in foreign countries	Luxembourg
ProLogis Japan Incorporated and thirty nine subsidiaries in foreign countries	Delaware
Japan Investments (2) Incorporated	Delaware
ProLogis Japan II Incorporated	Delaware
ProLogis Japan Holdings LLC	Delaware
ProLogis Japan Finance Incorporated	Delaware
Japan Investments (1) Incorporated	Delaware
ProLogis Logistics Services Incorporated	Delaware
ProLogis Mexico Trust	Delaware
ProLogis-DS Mexico Incorporated	Maryland
ProLogis Mexico Holding II LLC and one subsidiary	Delaware
ProLogis-Monterrey (1) LLC and one subsidiary in a foreign country	Delaware
ProLogis-Monterrey (2) LLC and one subsidiary in a foreign country	Delaware
ProLogis-Monterrey (4) LLC and one subsidiary	Delaware
ProLogis-Juarez (1) LLC and one subsidiary	Delaware
ProLogis-Juarez (2) LLC and one subsidiary	Delaware
ProLogis-Juarez (3) LLC and one subsidiary	Delaware
ProLogis-Reynosa (1) LLC and one subsidiary in a foreign country	Delaware
ProLogis-Reynosa (2) LLC and one subsidiary in a foreign country	Delaware
ProLogis-Reynosa (3) LLC and one subsidiary	Delaware
PLDS de Mexico S.A. de C.V.	Mexico

ProLogis Canada Development Incorporated and twenty subsidiaries	Delaware
ProLogis Canada Incorporated	Delaware
ProLogis China Development Incorporated and eighteen subsidiaries in foreign countries	Delaware
ProLogis Singapore Investments Incorporated	Delaware
TCL Holdings S.A. and eight subsidiaries in foreign countries	Luxembourg
ProLogis Billabong III GP LLC	Delaware
ProLogis Billabong II GP LLC	Delaware
ProLogis Billabong I GP LLC	Delaware
ProLogis California I LLC (50% ownership interest)	Delaware
ProLogis European Properties Fund (21.8% ownership interest)	Luxembourg
ProLogis North American Properties Fund I LLC and one subsidiary (41.3% ownership interest)	Delaware
ProLogis First GP LLC and one subsidiary (20% ownership interest)	Delaware
ProLogis Second GP LLC and one subsidiary (20% ownership interest)	Delaware
ProLogis Third GP LLC and one subsidiary (20% ownership interest)	Delaware
PLD/RECO Japan TMK Property Trust (20% ownership interest)	Japan
ProLogis-Macquarie Fund (11.5% ownership interest)	Delaware
ProLogis Park Suzhou Development Co. Ltd (50% ownership)	China
Keystone NJ Associates LLC (20% ownership)	Delaware
KPJV LLP (20% ownership)	Delaware
Allagash Property Trust (20% ownership)	Maryland
Brazos Property Trust (20% ownership)	Maryland
Cimarron Property Trust (20% ownership)	Maryland
Deerfield Property Trust (20% ownership)	Maryland
Elkhorn Property Trust (20% ownership)	Maryland

Subsidiaries engaged in providing management services:
ProLogis Management Services Incorporated	Delaware
ProLogis BV and nineteen subsidiaries in foreign countries	Luxembourg
ProLogis Services Sarl and two subsidiaries in foreign countries	Luxembourg
ProLogis Management Incorporated	Delaware
ProLogis de Mexico S.A. de C.V.	Mexico
ProLogis Japan Management Incorporated and two subsidiaries in foreign countries	Delaware
ProLogis China Management Holding Sarl and one subsidiary in a foreign country	Barbados
ProLogis Capital Management Incorporated	Delaware
Macquarie-ProLogis Management LLC(50% ownership)	Delaware