The following is a summary of the noncontrolling interest and the consolidated entity’s total investment in real estate and debt at March 31, 2013 and December 31, 2012 (dollars in thousands):


	Our Ownership Percentage						Our Noncontrolling Interest				Total Investment In Real Estate				Debt
	2013			2012			2013		2012		2013		2012		2013		2012
Partnerships with exchangeable units (1)		various			various		$	44,538	$	44,476	$	852,680	$	826,605	$	—	$	—
Prologis Institutional Alliance Fund II		28.2	%		28.2	%		278,888		280,751		571,709		571,668		176,465		178,778
Mexico Fondo Logistico (AFORES)		20.0	%		20.0	%		163,357		157,843		395,249		388,960		209,652		214,084
Brazil Fund (2)		50.0	%		50.0	%		71,698		66,494		—		—		—		—
Prologis AMS		38.5	%		38.5	%		62,661		59,631		144,769		160,649		54,833		63,749
Other consolidated entities		various			various			37,729		43,930		371,570		404,825		60,231		62,061

Operating Partnership noncontrolling interests								658,871		653,125		2,335,977		2,352,707		501,181		518,672
Limited partners in the Operating Partnership (3)								50,767		51,194		—		—		—		—

REIT noncontrolling interests							$	709,638	$	704,319	$	2,335,977	$	2,352,707	$	501,181	$	518,672

(1)

At March 31, 2013 and December 31, 2012, there were 1,173,571 limited partnership units that were exchangeable into an equal number of shares of the REIT’s common stock. All of these outstanding limited partnership units are entitled to quarterly cash distributions equal to the quarterly dividends paid on our common stock.

(2)

We have a 50% ownership interest in and consolidate the Brazil Fund that in turn has investments in several joint ventures that are accounted for on the equity method. The Brazil Fund’s assets are investments in unconsolidated entities of $139.7 million. For additional information of our unconsolidated investment, see Note 4.

(3)

At March 31, 2013 and December 31, 2012, 1,893,266 units were associated with the limited partners in the Operating Partnership and were exchangeable into an equal number of shares of the REIT’s common stock. All of these outstanding limited partnership units are entitled to quarterly cash distributions equal to the quarterly distributions paid on our common stock.