Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 178

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 178
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 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 third-party debt to the gross book value of real estate for each venture and weighted based on the cumulative gross book value of all unconsolidated co-investment ventures.

At December 31, 2024, we did not guarantee any third-party debt of the unconsolidated co-investment ventures. In our role as the manager or sponsor, we work with the co-investment ventures to maintain sufficient liquidity and refinance their maturing debt. There can be no assurance that the co-investment ventures will be able to refinance any maturing indebtedness on terms as favorable as the maturing debt, or at all. If the ventures are unable to refinance the maturing indebtedness with newly issued debt, they may be able to obtain funds by voluntary capital contributions from us and our partners or by selling assets. Certain of our ventures also have