Prologis Inc formerly known as AMB Property Corporation is a Maryland corporation, commenced operations as a fully integrated real estate company in 1997. The Company is a owner, operator and developer of industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of December 31, 2011, it owned, or had investments in, on a consolidated basis or through unconsolidated investees, properties and development projects totaling approximately 569 million square feet (52.9 million square meters) in 21 countries. These properties are leased to approximately 4,500 customers, including third-party logistics providers, manufacturers, retailers, transportation companies and other enterprises. The Company's current business strategy includes two operating segments: Real Estate Operations, which includes its Capital Deployment activities. The Company's Real Estate Operations segment represents the long-term ownership of industrial operating properties, including development activities. Its Private Capital segment represents the long-term management of co-investment ventures and the properties they own. The Company's operations are subject to governmental regulations.