The following is a summary of the noncontrolling interests and the consolidated entity’s total investment in real estate and debt at March 31, 2014 and December 31, 2013 (dollars in thousands):


	Our Ownership Percentage						Noncontrolling Interest				Total Investment In Real Estate				Debt
	2014			2013			2014		2013		2014		2013		2014		2013
Partnerships with exchangeable units (1)		various			various		$	75,673	$	75,532	$	728,023	$	783,052	$	—	$	—
Mexico Fondo Logistico (AFORES)		20.0	%		20.0	%		224,723		220,292		458,859		457,006		190,716		191,866
Brazil Fund (2)		50.0	%		50.0	%		74,137		65,006		—		—		—		—
Prologis AMS		38.5	%		38.5	%		25,029		24,791		58,619		58,575		16,739		17,063
Prologis U.S. Logistics Venture (3)		55.0	%		N/A			443,846		—		999,134		—		—		—
Other consolidated entities		various			various			31,168		31,465		312,548		312,358		30,693		31,063

Operating Partnership noncontrolling interests								874,576		417,086		2,557,183		1,610,991		238,148		239,992
Limited partners in the Operating Partnership (4)								47,632		48,209		—		—		—		—

REIT noncontrolling interests							$	922,208	$	465,295	$	2,557,183	$	1,610,991	$	238,148	$	239,992

(1)

At March 31, 2014 and December 31, 2013, there were 1,948,608 limited partnership units that were exchangeable for cash or into an equal number of shares of the REIT’s common stock at the option of the issuer. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements.

(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 primarily investments in unconsolidated entities of $166.4 million at March 31, 2014. For additional information on our unconsolidated investments, see Note 4.

(3)	As discussed above, this was a newly formed co-investment venture in the first quarter of 2014.

(4)

At March 31, 2014 and December 31, 2013, there were 1,766,691 units that were associated with the limited partners in the Operating Partnership and were exchangeable for cash or into an equal number of shares of the REIT’s common stock at the option of the issuer. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement.