Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 320

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 2
Chunk 320
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 land parcel included in the consolidated portfolio.

(2)No remaining market within the U.S. or country within Europe represented more than 2% of the total gross book value of the consolidated and O&M operating properties.

(3)Included in our consolidated operating properties are properties that we consider to be held for contribution and are presented within Assets Held for Sale or Contribution in the Consolidated Balance Sheets. We include these properties in our operating portfolio as they are expected to be contributed to our co-investment ventures and remain in our O&M operating portfolio. At December 31, 2024, we had investments in real estate properties that were expected to be contributed to our unconsolidated co-investment ventures totaling $226 million and aggregating 2 million square feet. See Note 6 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for further information on our Assets Held for Sale or Contribution.

(4)Value-added properties are properties we have either acquired at a discount and believe we could provide greater returns post-stabilization or properties we expect to repurpose to higher uses.

(5)Represents the estimated finished square feet available for lease upon completion of a building on existing parcels of land.

(6)TEI is based on current projections and is subject to change. As noted in the table below, our current investment in the development portfolio was $2.8 billion, leaving approximately $1.9 billion of additional required investment. At December 31, 2024, based on TEI, approximately 20% of the properties in the development portfolio were completed but not yet stabilized, 60% of the properties were expected to be completed before December 31, 2025, and the remaining properties were expected to be 

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completed before July 2027. This includes the development of data centers with an aggregate TEI of $0.9 billion, on a consolidated basis.

The following table summarizes our investment in consolidated real estate properties at December 31, 2024 (in millions):

    Investment Before Depreciation

    Operating properties, excluding assets held for sale or contribution
     
    $
    78,279

    Development portfolio, including cost of land

    2,829

    Land

    4,454

    Other real estate investments (1)

    5,684

    Total consolidated real estate properties
     
    $
    91,246

(1)Included in other real estate investments were principally: (i