Prologis, Inc. | 2013 | FY | 3


Investments in real estate properties are presented at cost, and consist of the following as of December 31 (square feet and dollars in thousands):

 

     Square Feet /Acres (1)        No. of Buildings (1)      Investment Balance  
      2013      2012        2013      2012      2013      2012  

Industrial operating properties:

                   

Improved land

     - -          - -            - -          - -        $ 4,074,647       $ 5,317,123   

Buildings and improvements

     267,097         316,347           1,610         1,853         13,726,417         17,291,125   

Development portfolio, including cost of land:

                   

Pre-stabilized

     4,491         4,785           11         15         204,022         472,413   

Properties under development

     18,587         13,216           46         30         816,995         479,230   

Land

     9,747         10,915           - -          - -          1,516,166         1,794,364   

Other real estate investments (2)

     - -          - -            - -          - -          486,230         454,868   
                

 

 

    

 

 

 

Total investments in real estate properties

                   20,824,477         25,809,123   

Less accumulated depreciation

                   2,568,998         2,480,660   
                

 

 

    

 

 

 

Net investments in real estate properties

                                         $         18,255,479       $         23,328,463   

 

(1) Items indicated by ‘ - - ‘ are not applicable.

 

(2) Included in other investments were: (i) certain non-industrial real estate; (ii) our corporate office buildings; (iii) land parcels that are ground leased to third parties; (iv) certain infrastructure costs related to projects we are developing on behalf of others; (v) costs related to future development projects, including purchase options on land; (vi) earnest money deposits associated with potential acquisitions; and (vii) restricted funds that are held in escrow pending the completion of tax-deferred exchange transactions involving operating properties.

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