Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 348

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 348
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    5,323

    Term loans

    350

    312

    Total
     
    $
    4,506

    $
    5,755

Unconsolidated Co-Investment Venture Debt

We had investments in and advances to our unconsolidated co-investment ventures of $9.3 billion at December 31, 2024. These ventures had total third-party debt of $17.9 billion at December 31, 2024 with a weighted average remaining maturity of 6 years and weighted average interest rate of 3.5%. Certain of our ventures do not have third-party debt and are therefore excluded. This debt is non-recourse to Prologis and other investors in the co-investment ventures and bears interest as follows at December 31, 2024 (dollars in millions): 

    Total Debt (1)

    Weighted Average Interest Rate
     
    Gross Book Value of Real Estate (1)

    Ownership %

    Prologis Targeted U.S. Logistics Fund
     
    $
    5,399

    4.3%
     
    $
    15,528

    30.5%

    FIBRA Prologis

    2,242

    5.1%

    6,395

    34.6%

    Prologis European Logistics Fund

    6,342

    3.0%

    18,918

    26.3%

    Nippon Prologis REIT

    2,298

    0.7%

    6,215

    15.1%

    Prologis Japan Core Logistics Fund

    283

    1.1%

    529

    16.3%

    Prologis China Core Logistics Fund

    977

    4.6%

    2,254

    15.5%

    Prologis China Logistics Venture

    385

    4.6%

    779

    15.0%

    Total
     
    $
    17,926

    $
    50,618

(1)The weighted average loan-to-value ratio for all unconsolidated co-investment ventures was 30.4% at December 31, 2024 based on gross book value. Loan-to-value, a non-GAAP measure, was calculated as the percentage of total