W. P. Carey (WPC) 8-K W. P. Carey & Co. LLC Supplemental Disclosure Report

W. P. Carey & Co. LLC
Supplemental Disclosure Report

For the Quarter Ended

March 31, 2006

Important Disclosures About this Report

Important Note Regarding Non-GAAP Financial Measures

This supplemental disclosure report contains references to W. P. Carey & Co. LLC’s definition of funds from operations (FFO), which is a non-GAAP financial measure. The National Association of Real Estate Investment Trusts (NAREIT) defines funds from operations as net income computed in accordance with generally accepted accounting principles (GAAP), excluding gains or losses from sales of property, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. W. P. Carey & Co. LLC calculates its FFO in accordance with this definition and then makes adjustments to add back certain non-cash charges to earnings, such as the amortization of intangibles, stock compensation and impairment charges on real estate, resulting in its FFO. W. P. Carey & Co. LLC considers its definition of FFO to be an appropriate supplemental measure of operating performance because, by excluding these non-cash charges, it can be a helpful tool to assist in the comparison of the operating performance of W. P. Carey & Co. LLC’s real estate between periods, or as compared to different companies. W. P. Carey & Co. LLC’s definition of FFO should not be considered as an alternative to net income as an indication of its operating performance or to net cash provided by operating activities as a measure of its liquidity. FFO and adjusted FFO disclosed by other REITs (real estate investment trust) may not be comparable to W. P. Carey & Co. LLC’s FFO calculation.

Forward-looking Statements

This supplemental disclosure report contains certain forward-looking statements relating to W. P. Carey & Co. LLC & Co. LLC. As used in this supplemental disclosure report, the terms “the Company,” “we,” “us” and “our” include W. P. Carey & Co. LLC & Co. LLC, its consolidated subsidiaries and predecessors, unless otherwise indicated. Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as “anticipate,” “believe,” “expect,” “estimate,” “intend,” “could,” “should,” “would,” “may,” “seeks,” “plans” or similar expressions. Do not unduly rely on forward-looking statements. They give our expectations about the future and are not guarantees, and speak only as of the date they are made. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievement to be materially different from the results of operations or plan expressed or implied by such forward-looking statements. Accordingly, such information should not be regarded as representations that the results or conditions described in such statements or that our objectives and plans will be achieved.

W. P. CAREY & CO. LLC

Supplemental Disclosure Report for the Quarter ended March 31, 2006

Contents	Page
CORPORATE PROFILE:
Company Overview		5
First Quarter March 31, 2006 Results		6
Financial Highlights		7
FINANCIAL ANALYSIS:
Reconciliation of Net Income to FFO and FAD Analysis		9
Debt Structure Analysis		10
Total Capitalization Analysis		11
Revenue Diversification Analysis		12
Revenue Stability Analysis		13
Selected Financial Ratios Analysis		14
Portfolio Debt Summary		15
Mortgage Debt Maturity Profile		16
ACQUISITIONS & DISPOSITIONS:
2006 Acquisitions Update		18
2006 Dispositions Update		19
PORTFOLIO ANALYSIS:
Portfolio Diversification Analysis by Rent Contribution		21
Portfolio Diversification Analysis by Property Type		22
Portfolio Diversification Analysis by Tenant Industry		23
Portfolio Diversification Analysis by Geography		24
Portfolio Lease Maturity Analysis		25
EXHIBITS:
Consolidated Balance Sheets	Exhibit A
Consolidated Statements of Income	Exhibit B
Consolidated Statements of Cash Flows	Exhibit C
Quarterly Reconciliation of Net Income to Funds from Operations	Exhibit D
Detailed Property Summary	Exhibit E

CORPORATE PROFILE

SECTION: CORPORATE PROFILE

W. P. CAREY & CO. LLC

Company Overview

March 31, 2006

STOCK DATA
Exchanges	NYSE & PCX
Ticker	WPC
Closing Price Range three months ended March 31, 2006	$	25.65-$27.34
Listed Shares Outstanding as of March 31, 2006		37,778,129

BANKS
JPMorgan Chase Bank — Administrative Agent
The Bank of New York — Syndication Agent
PNC Bank, N.A. — Syndication Agent
Wells Fargo Bank, N.A. — Syndication Agent
Bank of America, N.A. — Documentation Agent

INDEPENDENT AUDITORS
PricewaterhouseCoopers LLP

RESEARCH COVERAGE
A. G. Edwards & Sons, Inc.

COMPANY CONTACTS
Mark DeCesaris
Managing Director, Acting Chief Financial Officer
Susan C. Hyde
Executive Director, Director of Investor Relations
Gagan Singh
First Vice President, Finance
Ryan Colbert
Analyst, Finance

EXECUTIVE OFFICES
50 Rockefeller Plaza
New York, NY 10020
Tel: 1-800-WPCAREY or (212) 492-1100
Fax: (212) 492-8922
Web Site Address:www.wpcarey.com

Ticker: WPC 5 www.wpcarey.com

SECTION: CORPORATE PROFILE

W. P. CAREY & CO. LLC

First Quarter March 31, 2006 Results

Financial Results

Net income for the three-month period increased 89% to $11.1 million, as compared to $5.9 million for the same period in 2005. Diluted earnings per share (EPS) for the three-month period increased 93% to $0.29 as compared to $0.15 for the same period in 2005.

Funds from Operations (FFO) for the three-month period decreased 7% to $0.57 per diluted share, or $21.8 million, as compared to $0.61 per diluted share, or $23.9 million, for the comparable period in 2005.

Income from continuing operations for the three-month period increased 12% to $15.0 million, as compared to $13.3 million for the same period in 2005. Total revenues for the three-month period increased 6% to $47.9 million, as compared to $45.3 million for the same period in 2005.

Cash flows from operating activities for the three-month period decreased 8% to $25.3 million, as compared to $27.5 million for the comparable period in 2005, as an increasing amount of our management income was received in shares of the Corporate Property Associates (CPA^®) funds.

Dividend Increase

The Board of Directors raised the quarterly cash distribution to $0.452 per share, which was paid on April 13, 2006 to shareholders of record on March 31, 2006.

First Quarter Investment Highlights

For the three-month period ended March 31, 2006, the Company completed five investments in four industries totaling $255 million on behalf of its funds, CPA^®:15 and CPA^®:16 – Global, as compared to $367 million for the three-month period ended March 31, 2005. 72% of investments in the first quarter of 2006 were made internationally, consisting of an acquisition of fifteen retail facilities and one office building located throughout Poland from OBI AG, the fourth largest ‘Do-It-Yourself’ retailer in the world headquartered in Germany, for a total purchase price of approximately $183 million. The lease is guaranteed by the German parent and is denominated in Euros.

Ticker: WPC 6 www.wpcarey.com

SECTION: CORPORATE PROFILE

W. P. CAREY & CO. LLC

Financial Highlights

(in thousands, except share and per share data)

	For the Quarter			For the Quarter			For the Year
	Ended			Ended			Ended
	March 31, 2006			March 31, 2005			December 31, 2005
Operations
Total Revenues from Continuing Operations	$	47,886		$	45,307		$	174,117
Net Income	$	11,065		$	5,855		$	48,604
Funds From Operations (FFO)	$	21,826		$	23,911		$	98,571
Per Share
FFO (Diluted)	$	0.57		$	0.61		$	2.53
Dividends Declared	$	0.452		$	0.444		$	1.788
Pay Out Ratio (Dividends Declared/FFO)		79.3	%		72.8	%		70.7	%
Weighted Average Listed Shares Outstanding (Diluted)		38,627,267			39,377,650			39,020,801
Balance Sheet	As of 3/31/06			As of 3/31/05			As of 12/31/05
Total Assets	$	1,000,075		$	993,001		$	983,262
Limited Recourse Mortgage Debt(1)	$	249,896		$	180,589		$	231,113
Credit Facility	$	6,000		$	100,000		$	15,000
Members’ Equity	$	603,276		$	610,357		$	607,468
Stock Data
Price Range	$	25.65-$27.34
Dividend Yield Range		6.61% - 7.05	%
Average Trading Volume		35,547
Price/Estimated FFO(2)		9.89

(1)	Excludes pro rata mortgage debt of equity investments in properties leased to Federal Express Corporation, Information Resources, Inc., Childtime Childcare, Inc., Hologic, Inc., Carrefour France, SAS, and SICOR, Inc. See the Portfolio Debt Summary on page 14 for details.
(2)	Based on a stock price of $27.19 on May 9, 2006 and 2006 analyst FFO forecast of $2.75.

Ticker: WPC 7 www.wpcarey.com

FINANCIAL ANALYSIS

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Reconciliation of Net Income to Funds From Operations (FFO) & FAD Analysis

(in thousands, except share and per share data)

	For the Quarter			For the Quarter			For the Year
	Ended			Ended			Ended
	March 31, 2006			March 31, 2005			December 31, 2005
Net income	$	11,065		$	5,855		$	48,604
Loss (Gain) on sale of real estate		—			20			(12,474	)
FFO of equity investees in excess of equity income		2,825			2,227			10,358
Depreciation, amortization, deferred taxes and other non-cash charges		4,125			5,341			27,094
FFO applicable to minority investees in excess of minority income		(237	)		(118	)		(602	)
Straight-line rents		691			914			3,821
Impairment charges		3,357			9,672			21,770
Funds From Operations (FFO)	$	21,826		$	23,911		$	98,571
Weighted Average Listed Shares Outstanding
Basic		37,727,782			37,592,343			37,688,835
Diluted		38,627,267			39,377,650			39,020,801
FFO per Share
Basic	$	0.58		$	0.64		$	2.62
Diluted	$	0.57		$	0.61		$	2.53
Pay Out Ratio (Dividend/FFO)		79.3	%		72.8	%		70.7	%
Funds From Operations (FFO)		21,826			23,911			98,571
Recurring and non-revenue enhancing capital expenditure		—			(312	)		(939	)
Funds Available For Distribution (FAD)	$	21,826		$	23,599		$	97,632
FAD Per Share
Basic	$	0.58		$	0.63		$	2.59
Diluted	$	0.57		$	0.60		$	2.50
Pay Out Ratio (Dividend/FAD)		79.3	%		74.0	%		71.5	%

Ticker: WPC 9 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Debt Structure Analysis

(in thousands)

Debt Structure

December 31, 2005
Limited Recourse Mortgage Debt(1)	$	292,511	95	%
Credit Facility		15,000	5	%
Total Debt	$	307,511	100	%

March 31, 2006
Limited Recourse Mortgage Debt(1)	$	290,526	98	%
Credit Facility		6,000	2	%
Total Debt	$	296,526	100	%

(1) Includes pro rata mortgage debt of equity investments in properties leased to Federal Express Corporation, Information Resources, Inc., Childtime Childcare, Inc., Hologic, Inc., Carrefour, SAS, and SICOR, Inc. See the Portfolio Debt Summary on page 14 for details.

Ticker: WPC 10 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Total Capitalization Analysis

March 31, 2006

(in thousands)

Total Market Capitalization Analysis
Equity Market Capitalization of Listed Shares (1)	$	1,027,187	78	%
Limited Recourse Mortgage Debt (2)		290,526	22	%
Credit Facility		6,000	0	%
Total Debt		296,526	22	%
Total Market Capitalization (3)	$	1,323,713	100	%

Total Book Value Capitalization Analysis
Members’ Equity	$	603,276	67	%
Limited Recourse Mortgage Debt (2)		290,526	32	%
Credit Facility		6,000	1	%
Total Debt		296,526	33	%
Total Book Value Capitalization	$	899,802	100	%

(1)	Stock price of $27.19 is as of the first quarter earnings release date of May 9, 2006. Indicated shares outstanding of 37,778,129 is as of March 31, 2006.
(2)	Includes pro rata mortgage debt of equity invesments in properties leased to Federal Express Corporation, Information Resources, Inc., Childtime Childcare, Inc., Hologic, Inc., Carrefour, SAS, and SICOR, Inc. See the Portfolio Debt Summary on page 14 for details.
(3)	Numbers may not add up due to rounding.

Ticker: WPC 11 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Revenue Diversification Analysis(GAAP Modified)

(in thousands)

Twelve Months Ended
December 31, 2005
Revenues from Real Estate Business (1)	$	90,730	50	%
Revenues from Management Business		90,490	50	%
Total Revenues	$	181,220	100	%

Three Months Ended
March 31, 2006
Revenues from Real Estate Business (1)	$	21,971	45	%
Revenues from Management Business		27,252	55	%
Total Revenues	$	49,223	100	%

Definitions

(1)	Revenues from Real Estate Business (continuing and discontinued operations) = rental income + interest income from direct financing leases + other interest income + other income + revenues of other business operations.
(2)	Revenues from Management Business = asset management revenue + structuring revenue + reimbursements revenue from CPA®REITs.

Ticker: WPC 12 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Revenue Stability Analysis(GAAP Modified)

(in thousands except per share data)

			Diluted
	Twelve Months Ended		Per
Revenue Type	December 31, 2005		Share		%
Rents(1)	$	84,102	$	2.16
Management revenue(2)		64,676	$	1.66
Rents and Management Revenue(3)		148,778	$	3.82		82	%
Structuring revenue(4)		25,814	$	0.66
Other income		6,628	$	0.17
Structuring Revenue & Other Income(3)		32,442	$	0.83		18	%
Total(3)	$	181,220	$	4.64		100	%

			Diluted
	Three Months Ended		Per
Revenue Type	March 31, 2006		Share		%
Rents(1)	$	21,367	$	0.55
Management revenue(2)		17,339	$	0.45
Rents and Management Revenue(3)		38,706	$	1.00		79	%
Structuring revenue(4)		9,913	$	0.26
Other income		604	$	0.02
Structuring Revenue & Other Income(3)		10,517	$	0.27		21	%
Total(3)	$	49,223	$	1.27		100	%

(1)	Rents (continuing and discontinued operations) = rental income + interest income from direct financing leases + other interest income + revenues of other business operations.
(2)	Management revenues include management and performance revenues earned from CPA®REITs under management as well as reimbursements of expenses.
(3)	Numbers may not add up due to rounding.
(4)	Structuring revenue includes structuring fees, deferred structuring fees and DRIP (dividend reinvestment program) commissions earned by Carey Financial.

Ticker: WPC 13 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Selected Financial Ratios Analysis

March 31, 2006

	For the Three Months			For the Three Months			For the Twelve Months
	Ended			Ended			Ended
	March 31, 2006			March 31, 2005			December 31, 2005
Financial Strength
Leverage
Recourse debt/Book value of equity		1.0	%		16.4	%		2.5	%
Total debt/Total market capitalization		28.9	%		30.3	%		31.8	%
Total debt/EBITDA		2.23			3.45			2.41
FFO/Total debt*		29.4	%		27.9	%		32.1	%
Coverage
EBITDA/Total interest expense		6.43			4.67			6.00
Fixed charge coverage ratio		3.99			3.16			4.08
FFO/Total interest expense*		4.22			4.51			4.63
Valuation Ratios
Price/Earnings*		23.44			49.97			20.52
Price/FFO*		11.93			12.29			10.14
Price/Revenues*		5.33			3.05			5.52
Price/Book Value of Equity		1.70			1.85			1.59
Per Share Data						��
Earnings*	$	1.16		$	0.60		$	1.25
FFO*	$	2.28		$	2.44		$	2.53
Revenues*	$	5.10		$	9.82		$	4.64
Book Value of Equity	$	15.97		$	16.21		$	16.11

* Quarterly ratios are based on annualized earnings, FFO & revenues.

Definitions

(1)	Recourse debt = Company level indebtedness that is not secured by a lien.
(2)	Total debt = long-term debt = recourse debt + limited recourse mortgage debt, including adjustments for joint ventures (“JV’s”).
(3)	Total market capitalization =equity market capitalization + debt capitalization.
(4)	Fixed charge coverage ratio = EBITDA/(interest expense + scheduled principal amortization + preferred dividends (if any) + adjustments for JVs).
(5)	EBITDA = net income + interest + taxes + depreciation + amortization +/- extraordinary loss (gain) + noncash charges / gains + adjustments for JVs.
(6)	Price = Closing Price as of earnings release date of May 9, 2006.
(7)	Revenues = revenue from continuing operations + revenue from discontinued operations + interest income.

Ticker: WPC 14 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Portfolio Debt Summary

(pro rata basis)

March 31, 2006

	Number of
Tenant/Lease Guarantor	Properties		Fixed / Variable	Original Balance		Current Balance			Interest Rate				Maturity Date
CheckFree Holdings, Inc.		1	Variable		11,650,000			10,341,454		6.61	%	Jun-06
Quebecor Printing USA (MS)		1	Fixed		5,000,000			4,372,622		7.00	%	Jul-06
Quebecor Printing USA (GA)		1	Fixed		7,000,000			6,333,161		6.82	%	Aug-07
Amerisure Insurance		1	Fixed		9,500,000			9,683,893		8.80	%	Dec-07
Billipp Portfolio(1)		7	Variable		5,000,000			5,000,005		5.92	%	Dec-08
SICOR, Inc.		2	Fixed		2,777,183			1,923,291		8.13	%	Jan-09
Orbital Sciences Corporation		1	Fixed		15,000,000			13,175,996		7.38	%	Jun-09
America West Holdings Corporation		1	Fixed		25,000,000			16,409,004		7.23	%	Aug-09
Bell South Telecommunications		1	Fixed		5,995,498			4,321,476		8.11	%	Jan-10
Unisource Worldwide, Inc.		1	Fixed		7,000,000			2,715,204		7.24	%	Feb-10
Hibbett Sports		1	Fixed		4,995,033			4,777,395		7.50	%	Apr-10
Detroit Diesel Corporation		1	Fixed		25,000,000			10,196,284		7.96	%	Jun-10
Omnicom Group, Inc.		1	Fixed		4,574,481			3,760,987		7.65	%	Sep-10
EnviroWorks, Inc.		1	Fixed		3,563,292			3,033,084		10.13	%	Oct-10
Federal Express Corporation		1	Fixed		18,000,000			16,992,189		7.50	%	Jan-11
Autozone- Series A		12	Fixed		4,099,504			2,128,659		6.85	%	Jan-11
Childtime Childcare, Inc.		12	Fixed		2,522,816			2,385,186		7.50	%	Jan-11
Information Resources, Inc.		2	Fixed		8,665,800			7,892,667		7.60	%	Jan-11
Cendant Operations, Inc.		1	Fixed		6,000,000			5,690,848		7.34	%	Jan-11
Autozone, Inc. - Series B		19	Fixed		6,289,699			3,297,457		6.85	%	Feb-11
Sprint Spectrum, LP		1	Fixed		8,753,000			8,389,095		7.64	%	Aug-11
Qwest Communications, Inc.		1	Fixed		1,594,023			1,539,071		7.50	%	Jun-12
Autozone- Series C		6	Fixed		2,033,191			1,225,984		6.85	%	Aug-12
BE Aerospace, Inc.		3	Fixed		9,200,000			8,830,535		6.11	%	Nov-12
Faurecia (AP Parts)(2)		1	Fixed		2,675,000			2,657,351		5.16	%	Nov-12
Anthony, Inc. Industry(2)		4	Fixed		9,285,000			9,223,281		5.11	%	Nov-12
Alstom & Werner(2)		3	Fixed		10,750,000			10,697,084		5.18	%	Dec-12
SAS Pantin Invest France(3)		1	Fixed		12,683,000			8,146,053		4.92	%	Jul-13
Autozone- Series D		11	Fixed		4,667,621			3,019,691		6.85	%	Aug-13
Aviva France (fka Tellit Assurances -SA)(3)		1	Fixed(8)		3,300,750			2,423,182		4.49	%	Aug-13
Direction Regional des Affaires Sanitaires et Sociales (aka SCI Le Mail)(3)		1	Fixed		1,341,000			899,201		4.60	%	Aug-13
SARL S3T (aka SAS Immo Invest)(3)		1	Variable		1,429,728			1,312,962		4.56	%	May-14
DSM Food Specialties (aka SAS Immo Invest)(3)		1	Variable		1,728,672			1,079,363		4.56	%	May-14
Carrefour France, SAS(3)		8	Fixed		26,078,798			25,111,979		5.55	%	Dec-14
Lowe’s Home Improvement Warehouse (Eagle Hardware)		1	Fixed		9,725,000			9,725,000		4.87	%	Sep-15
Bouygues Telecom, S.A. (Tours)(3)		1	Variable		9,877,469			7,933,127		3.86	%	Oct-15
Dr. Pepper(2)		2	Fixed		33,950,000			33,724,998		5.13	%	Nov-15
Bouygues Telecom, S.A. (Illkirch-Graffenstaden)(3)		1	Fixed(9)		16,874,000			13,989,219		5.45	%	Oct-16
Hologic, Inc.		2	Fixed		6,660,000			6,168,301		6.40	%	May-23
Total Limited Recourse Debt(7)		118		$	350,239,559		$	290,526,338		6.37	%(4)
				Credit Facility(5)			$	6,000,000		5.98	%	May-07
				Total Debt			$	296,526,338		6.36	%(6)

(1)	New loan as of December 29, 2005.
(2)	New portfolio refinancing activity completed fourth quarter 2005.
(3)	Debt balance calculated using an exchange rate of 1.2076 USD/EUR at March 31, 2006.
(4)	Reflects weighted average interest rate for the mortgage debt only.
(5)	Indicated interest rate is based on Libor + 110 bps and represents the weighted average on outstanding tranches at March 31, 2006. Floating rate subject to change depending on leverage ratios and debt ratings (if applicable).
(6)	Reflects weighted average interest rate for the entire portfolio including the line of credit debt.
(7)	Numbers may not add up due to rounding.
(8)	Loan resets itself to a 5 year French Franc swap rate index plus 85 bps every five years. Current term is fixed until 2008.
(9)	Loan resets itself to PFX 5 year index plus 85 bps every five years. Current rate is fixed until October 2006.

Ticker: WPC 15 www.wpcarey.com

SECTION: FINANCIAL ANALYSIS

W. P. CAREY & CO. LLC

Mortgage Debt Maturity profile

(pro rata basis)

March 31, 2006

Year	Balloon Payments
2006		14,452,927
2007		15,540,508
2008		—
2009		26,754,760
2010		6,741,951
2011		37,912,078
2012		9,023,825
2013		4,635,588
2014		17,239,220
2015		10,071,205
2016		4,921,209
2017		—
2018		—
2019		—
2020		—
2021		—
2022		—
2023		231,984
Total	$	147,525,255

Ticker: WPC 16 www.wpcarey.com

ACQUISITIONS & DISPOSITIONS

SECTION: ACQUISITIONS/DISPOSITIONS

W. P. CAREY & CO. LLC

2006 Acquisitions Update

			Purchase Price				Gross Square
Portfolio(s)	Tenant/Lease Guarantor	Property Location	(000s)		Closing Date	Property Type	Footage
Management Business
CPA®:16 - Global	Corinthian Laramie(1)	Laramie, WY	$	26,020	January 24, 2006	Residential		200,400
CPA®:16 - Global	Utex Industries, Inc.	Houston, TX		14,730	March 3, 2006	Industrial		335,228
CPA®:15	OTC Expansion(2)	La Vista, NE		14,660	March 23, 2006	Warehouse/Manufacturing		137,000
CPA®:15, 16 - Global	OBI Group	16 locations throughout Poland		183,300	March 31, 2006	Retail		1,660,000
CPA®:16 - Global	Datastream Systems, Inc	Greenville, SC		16,308	March 31, 2006	Office		126,000
	Total(3)		$	255,018				2,458,628

(1)	Represents a build-to-suit transaction. Gross Square Footage represents an estimate.
(2)	Represents a facility expansion.
(3)	Numbers may not add up due to rounding.

Ticker: WPC 18 www.wpcarey.com

SECTION: ACQUISITIONS/DISPOSITIONS

W. P. CAREY & CO. LLC

2006 Dispositions Update

				Sale Price
Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Disposition Date	(000s)
Management Business
CPA®:12	Rheometric	Piscataway, NJ	February 15, 2006	$	3,850
CPA®:15	Trends	Miami, FL	March 9, 2006		17,980
	Total			$	21,830

Ticker: WPC 19 www.wpcarey.com

PORTFOLIO ANALYSIS

SECTION: PORTFOLIO ANALYSIS

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Rent Contribution
March 31, 2006

Based on Ongoing Rental Income

	Annualized		Percentage of Total			Percentage of
Top Ten Tenants/Lease Guarantors	Rent		Annualized Rent			Revenue(1)
Detroit Diesel Corporation	$	4,634,253		5.4	%		2.4	%
Dr Pepper/Seven Up Bottling Group		4,598,837		5.3	%		2.3	%
Carrefour France, S.A.		3,522,884		4.1	%		1.8	%
Bouygues Telecom, S.A.		3,521,682		4.1	%		1.8	%
Quebecor Printing USA		3,127,203		3.6	%		1.6	%
Orbital Sciences Corporation		3,022,947		3.5	%		1.5	%
Federal Express Corporation		2,986,085		3.5	%		1.5	%
The Titan Corporation		2,862,068		3.3	%		1.5	%
America West Holdings Corporation		2,837,889		3.3	%		1.4	%
CheckFree Holdings, Inc.		2,301,768		2.7	%		1.2	%

Percentage of Total							Number of Tenants/Lease
Annualized Rent							Guarantors
	10.0	%	<	rent				0
	10.0	%	> ,³		7.5	%		0
	7.5	%	> ,³		5.0	%		2
	5.0	%	> ,³		2.5	%		9
	2.5	%	>	rent				100

Percentage of							Number of Tenants/Lease
Revenue(1)							Guarantors
	10.0	%	<	rent				0
	10.0	%	> ,³		7.5	%		0
	7.5	%	> ,³		5.0	%		0
	5.0	%	> ,³		2.5	%		0
	2.5	%	>	rent				111

(1) Revenues = revenue from continuing operations + revenue from discontinued operations + interest income.

Ticker: WPC 21 www.wpcarey.com

SECTION: PORTFOLIO ANALYSIS

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Property Type
March 31, 2006

Property Type	Square Footage(2)		Percent
Industrial		9,243,895		54.4	%
Warehouse/Distribution		4,313,893		25.4	%
Office		2,205,342		13.0	%
Retail		1,046,664		6.2	%
Hospitality		158,000		0.9	%
Other(3)		28,620		0.2	%
Total (4)		16,996,414		100.0	%

Property Type	Annualized Rent (1)		Percent
Industrial	$	34,100,629		39.5	%
Office		30,281,575		35.1	%
Warehouse/Distribution		14,124,734		16.4	%
Retail		6,038,449		7.0	%
Hospitality		1,200,000		1.4	%
Other (3)		614,537		0.7	%
Total (4)	$	86,359,924		100.0	%

(1)	Rents reflect current annualized rents on a pro rata basis.
(2)	Square footage for jointly owned properties is not shown on a pro rata basis.
(3)	Reflects land used for educational purposes & unoccupied land.
(4)	Numbers may not add up due to rounding.

Ticker: WPC 22 www.wpcarey.com

SECTION: PORTFOLIO ANALYSIS

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Tenant Industry
March 31, 2006

	Annualized		Percentage of
Industry Type (1)	Rent		Rent(2)
Manufacturing	$	34,674,039		40.2	%
Information		11,996,733		13.9	%
Wholesale Trade		11,529,185		13.4	%
Retail Trade		8,589,565		9.9	%
Transportation and Warehousing		7,297,683		8.5	%
Professional, Scientific and Technical Services		5,862,056		6.8	%
Finance and Insurance		2,627,285		3.0	%
Accomodation and Food Services		1,209,000		1.4	%
Construction		823,077		1.0	%
Public Administration		846,340		1.0	%
Health Care and Social Assistance		663,922		0.8	%
Educational Services		194,016		0.2	%
Other(3)		47,023		0.1	%
Total(4)	$	86,359,924		100.0	%

(1)	Based on the North American Industry Classification System (NAICS) and information provided by the tenant.
(2)	Rents reflect current annualized rents on a pro rata basis.
(3)	Reflects land used for Administrative, Support, Waste Management, Remediation Services, Arts, Entertainment & Recreation, and Other Services (except Public Administration).
(4)	Numbers may not add up due to rounding.

Ticker: WPC 23 www.wpcarey.com

SECTION: PORTFOLIO ANALYSIS

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Geography
March 31, 2006

Region	Square Footage (2)		Percentage
Midwest		5,286,078		31.1	%
South		4,876,624		28.7	%
East		3,470,251		20.4	%
West		2,334,814		13.7	%
Europe		1,028,647		6.1	%
Total		16,996,414		100.0	%

Region	Annualized Rent (1)		Percentage
South	$	27,220,999		31.5	%
West		19,953,857		23.1	%
Midwest		16,894,409		19.6	%
East		12,822,659		14.8	%
Europe		9,468,000		11.0	%
Total(3)	$	86,359,924		100.0	%

(1)	Rents reflect current annualized rents on a pro rata basis.
(2)	Square footage for jointly owned properties shown on a pro rata basis.
(3)	Numbers may not add up due to rounding.

Ticker: WPC 24 www.wpcarey.com

SECTION: PORTFOLIO ANALYSIS

W. P. CAREY & CO. LLC
Portfolio Lease Maturity Analysis
March 31, 2006

Year of	Number of		Annualized		Percentage of Total			Years to
Lease Expiration	Leases		Rents (1)		Annualized Rents			Maturity
2006(2)		25		4,102,584		4.8	%		0.75
2007		18		10,424,512		12.1	%		1.75
2008		13		7,722,193		8.9	%		2.75
2009		14		11,847,111		13.7	%		3.75
2010		18		10,441,752		12.1	%		4.75
2011		9		9,943,092		11.5	%		5.75
2012		5		2,176,387		2.5	%		6.75
2013		5		3,137,558		3.6	%		7.75
2014		4		9,077,458		10.5	%		8.75
2015		3		3,344,430		3.9	%		9.75
2016		2		728,290		0.8	%		10.75
2017		1		1,485,809		1.7	%		11.75
2018		2		3,105,709		3.6	%		12.75
2019		1		2,716,648		3.1	%		13.75
2020		1		4,634,253		5.4	%		14.75
2021		—		—		0.0	%		15.75
2022		2		1,472,138		1.7	%		16.75
Total (3)		123	$	86,359,924		100	%
Weighted Average Years to Maturity:						6.25

(1)	Month to month properties are counted in current year’s revenue stream.
(2)	2006 lease expirations include Broomfield tenants counted as separate leases.
(3)	Numbers may not add up due to rounding.

Ticker: WPC 25 www.wpcarey.com

EXHIBITS⁽¹⁾

(1) Sources for Exhibits A, B, C and D include a) March 31, 2006 Form 10-Q b) March 31, 2005 Form 10-Q c) December 31, 2005 Form 10-K d) Company Press Releases

EXHIBIT A

W. P. CAREY & CO. LLC

Consolidated Balance Sheets
(in thousands except share amounts)

	The Company			The Company			The Company
	Consolidated as of			Consolidated as of			Consolidated as of
	March 31, 2006			March 31, 2005			December 31, 2005
ASSETS:
Real estate, net	$	492,859		$	468,544		$	454,478
Net investment in direct financing leases		118,995			136,673			131,975
Equity Investments		133,822			115,159			134,567
Operating real estate, net		7,761			—			7,865
Assets held for sale		24,870			63,724			18,815
Cash and cash equivalents		14,833			24,428			13,014
Due from affiliates		76,417			53,670			82,933
Goodwill		63,607			63,607			63,607
Intangible assets, net		38,250			48,051			40,700
Other assets, net		28,661			19,145			35,308
Total assets	$	1,000,075		$	993,001		$	983,262
LIABILITIES AND MEMBERS’ EQUITY:
Liabilities:
Mortgage notes payable	$	245,523		$	180,589		$	226,701
Mortgage notes payable on assets held for sale		4,373			—			4,412
Credit facility		6,000			100,000			15,000
Accrued interest		1,647			1,778			2,036
Distributions payable		17,073			16,715			16,963
Due to affiliates		1,035			3,175			2,994
Accounts payable and accrued expense		18,690			15,064			23,002
Prepaid rental income and security deposits		6,553			6,204			4,391
Accrued income taxes		6,305			7,423			634
Deferred income taxes, net		37,860			37,219			39,908
Other liabilities		39,691			13,049			36,064
Total Liabilities		384,750			381,216			372,105
Minority interest in consolidated entities		12,049			1,428			3,689
Commitments and contingencies
Members’ Equity:
Listed Shares, no par value, 100,000,000 shares authorized, 37,778,129, and 37,706,247 shares issued and outstanding at March 31, 2006 and December 31, 2005		736,803			738,783			740,593
Distributions in excess of accumulated earnings		(137,188	)		(123,259	)		(131,178	)
Unearned compensation		—			(7,419	)		(5,119	)
Accumulated other comprehensive income		3,661			2,252			3,172
Total members’ equity		603,276			610,357			607,468
Total liabilities and members’ equity	$	1,000,075		$	993,001		$	983,262

Ticker: WPC www.wpcarey.com

EXHIBIT B

W. P. CAREY & CO. LLC
Consolidated Statements of Income
(in thousands, except share and per share amounts)

	For the Quarter			For the Quarter			For the Year
	Ended			Ended			Ended
	March 31, 2006			March 31, 2005			December 31, 2005
REVENUES:
Asset management income	$	17,360		$	15,432		$	62,294
Structuring revenue		9,892			10,707			28,197
Rental Income		14,822			13,045			52,386
Interest income from direct financing leases		3,421			3,836			17,149
Other operating income		528			559			6,592
Revenues of other business operations		1,863			1,728			7,499
		47,886			45,307			174,117
OPERATING EXPENSES:
General and administrative		(14,156	)		(13,811	)		(55,184	)
Depreciation		(3,645	)		(3,088	)		(11,939	)
Amortization		(2,284	)		(2,203	)		(8,813	)
Property expenses		(1,837	)		(1,715	)		(7,396	)
Impairment charges		—			(800	)		(15,154	)
Operating expenses of other business operations		(1,567	)		(1,516	)		(6,327	)
		(23,489	)		(23,133	)		(104,813	)
OTHER INCOME AND EXPENSES:
Other interest income		727			842			3,511
Income from equity investments		1,550			1,368			5,182
Minority interest in income		(862	)		(632	)		(264	)
Gain (loss) on foreign currency transactions and other gains, net		250			(350	)		1,305
Interest expense		(4,388	)		(4,227	)		(16,787	)
		(2,723	)		(2,999	)		(7,053	)
Income from continuing operations before income taxes		21,674			19,175			62,251
Provision for income taxes		(6,722	)		(5,853	)		(19,390	)
Income from continuing operations		14,952			13,322			42,861
DISCONTINUED OPERATIONS:
(Loss) income from operations of discontinued properties		(530	)		1,425			1,885
(Loss) gain on sale of real estate		—			(20	)		10,474
Impairment charges on assets held for sale		(3,357	)		(8,872	)		(6,616	)
(Loss) income from discontinued operations		(3,887	)		(7,467	)		5,743
NET INCOME	$	11,065		$	5,855		$	48,604
BASIC EARNINGS PER SHARE:
Income from continuing operations	$	0.40		$	0.36		$	1.14
(Loss) income from discontinued operations		(0.10	)		(0.20	)		0.15
Net Income	$	0.30		$	0.16		$	1.29
DILUTED EARNINGS PER SHARE:
Income from continuing operations	$	0.39		$	0.34		$	1.10
(Loss) income from discontinued operations		(0.10	)		(0.19	)		0.15
Net Income	$	0.29		$	0.15		$	1.25
DIVIDENDS DECLARED PER SHARE:	$	0.452		$	0.444		$	1.79
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic		37,727,782			37,592,343			37,688,835
Diluted		38,627,267			39,377,650			39,020,801

Ticker: WPC www.wpcarey.com

EXHIBIT C

W. P. CAREY & CO. LLC

Consolidated Statements of Cash Flows
(in thousands)

	For the Quarter			For the Quarter			For the Year
	Ended			Ended			Ended
	March 31, 2006			March 31, 2005 (Revised)			December 31, 2005
Cash flows from operating activities:
Net income	$	11,065		$	5,855		$	48,604
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangible assets and deferred financing costs		6,136			5,521			21,623
Income from equity investments in excess of distributions received		(247	)		(75	)		479
Loss (Gain) on sales of real estate and securities, net		—			20			(10,570	)
Recognition of deferred gain on completion of development project		—			—			(2,000	)
Minority interest in income		862			632			264
Straight-line rent adjustments		732			962			3,776
Management income received in shares of affiliates		(7,892	)		(7,025	)		(31,858	)
Unrealized (gain) loss on foreign currency transactions and warrants		(165	)		363			779
Impairment charges		3,357			9,672			21,770
Deferred income taxes		(2,048	)		(1,140	)		1,549
Realized (gain) loss on foreign currency transaction		(85	)		(14	)		19
Costs paid by issuance of shares		—			—			201
Increase (decrease) in accrued income taxes		5,671			3,514			(3,274	)
Decrease in prepaid taxes		706			—			—
Tax charge — share incentive plans		—			(228	)		604
Excess tax benefits associated with stock based compensation awards		719			830			—
Amortization of unearned compensation		—			—			3,936
Deferred acquisition revenue received		12,543			8,961			8,961
Increase in structuring revenue receivable		(3,039	)		(1,572	)		(5,304	)
Net changes in other operating assets and liabilities		(2,968	)		1,225			(6,852	)
Net cash provided by operating activities		25,347			27,501			52,707
Cash flows from investing activities:
Distributions received from equity investments in excess of equity income		1,400			1,937			6,164
Capital expenditures		(674	)		(312	)		(2,975	)
Purchase of investment		—			—			(465	)
Payment of deferred acquisition revenue to an affiliate		(524	)		(524	)		(524	)
Proceeds from sales of property and investments		—			3,613			45,542
Net cash provided by investing activities		202			4,714			47,742
Cash flows from financing activities:
Distributions paid		(16,965	)		(16,584	)		(67,004	)
Contributions from minority interests		506			—			1,539
Distributions to minority interests		(136	)		—			(355	)
Scheduled payments of mortgage principal		(2,916	)		(2,285	)		(9,229	)
Proceeds from mortgages and credit facility		10,000			20,000			121,764
Prepayments of mortgages principal and credit facility		(19,000	)		(26,893	)		(151,893	)
Release of funds from escrow in connection with the financing of properties		4,031			—			—
Payment of financing costs		(217	)		—			(797	)
Proceeds from issuance of shares		1,323			1,421			4,400
Excess tax benefits associated with stock based compensation awards		77			—			—
Retirement of shares		(482	)		—			(2,206	)
Net cash used in financing activities:		(23,779	)		(24,341	)		(103,781	)
Effect of exchange rate changes on cash		49			(161	)		(369	)
Net increase (decrease) in cash and cash equivalents		1,819			7,713			(3,701	)
Cash and cash equivalents, beginning of period		13,014			16,715			16,715
Cash and cash equivalents, end of period	$	14,833		$	24,428		$	13,014

Ticker: WPC www.wpcarey.com

EXHIBIT D

W. P. CAREY & CO. LLC
Quarterly Reconciliation of Net Income to Funds from Operations
(in thousands, except share and per share amounts)

	For the Quarter			For the Quarter			For the Quarter			For the Quarter
	Ended			Ended			Ended			Ended
	March 31, 2006			December 31, 2005			September 30, 2005			June 30, 2005
Net income	$	11,065		$	11,488		$	14,328		$	16,933
(Gain) on sale of real estate, net		—			(3,355	)		—			(9,139	)
FFO of equity investees in excess of equity income		2,825			2,833			2,690			2,608
Depreciation, amortization, deferred taxes and other non-cash charges		4,125			6,396			7,957			7,400
FFO applicable to minority investees in excess of minority income		(237	)		(183	)		(193	)		(108	)
Straight-line rents		691			1,119			824			964
Impairment charges		3,357			5,949			—			6,149
Funds From Operations (FFO)	$	21,826		$	24,247		$	25,606		$	24,807
Weighted Average Listed Shares Outstanding
Basic		37,727,782			37,762,361			37,727,008			37,670,305
Diluted		38,627,267			38,674,396			38,948,980			39,017,636
FFO per Share
Basic	$	0.58		$	0.64		$	0.68		$	0.66
Diluted	$	0.57		$	0.63		$	0.66		$	0.64

EXHIBIT E

W. P. CAREY & CO. LLC
Detailed Property Summary
March 31, 2006

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Property Location

Property Type

Tenant Type

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

Detroit Diesel Corporation

Detroit, MI

Industrial

Manufacturing

Midwest

2,730,750

4,634,253

5.37

%

PPI

June-20

June-40

Detroit Diesel Corporation Total

2,730,750

4,634,253

5.37

%

Dr Pepper/Seven Up Bottling Group

Irving, TX

Industrial

Manufacturing

South

459,497

2,789,653

3.23

%

CPI

June-14

June-29

Dr Pepper/Seven Up Bottling Group

Houston, TX

Industrial

Manufacturing

South

262,450

1,809,184

2.09

%

CPI

June-14

June-29

Dr Pepper/Seven Up Bottling Group Total

721,947

4,598,837

5.33

%

Carrefour France, SAS(4)

Lens, France

Warehouse/Distribution

Retail Trade

Europe

62,349

368,377

0.43

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Lens, France

Warehouse/Distribution

Retail Trade

Europe

1,276

7,541

0.01

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Lens, France

Warehouse/Distribution

Retail Trade

Europe

2,136

12,621

0.01

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Nimes, France

Warehouse/Distribution

Retail Trade

Europe

66,285

323,353

0.37

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Nimes, France

Warehouse/Distribution

Retail Trade

Europe

1,255

6,120

0.01

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Nimes, France

Warehouse/Distribution

Retail Trade

Europe

293

1,429

0.00

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Nimes, France

Warehouse/Distribution

Retail Trade

Europe

87,334

485,063

0.56

%

INSEE(2)

November-12

November-12

Carrefour France, SAS(4)

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

85,602

467,374

0.54

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

29,617

161,706

0.19

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

3,696

20,179

0.02

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

1,424

7,775

0.01

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Thuit Hebert, France

Warehouse/Distribution

Retail Trade

Europe

53,032

232,572

0.27

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Thuit Hebert, France

Warehouse/Distribution

Retail Trade

Europe

33,638

147,518

0.17

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Crepy en Valois, France

Warehouse/Distribution

Retail Trade

Europe

49,736

302,292

0.35

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Crepy en Valois, France

Warehouse/Distribution

Retail Trade

Europe

74,846

454,908

0.53

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Ploufragen, France

Warehouse/Distribution

Retail Trade

Europe

60,221

281,938

0.33

%

INSEE(2)

December-11

December-11

Carrefour France, SAS(4)

Cholet, France

Warehouse/Distribution

Retail Trade

Europe

48,760

242,118

0.28

%

INSEE(2)

December-11

December-11

Carrefour France, SAS (4) Total

661,500

3,522,884

4.08

%

Bouygues Telecom, S.A.(1)

Tours, France

Office

Information

Europe

102,237

1,352,273

1.57

%

INSEE(2)

September-09

September-12

Bouygues Telecom, S.A.(3)

Illkirch-Graffenstaden, France

Office

Information

Europe

80,729

2,169,409

2.51

%

INSEE(2)

December-08

July-13

Bouygues Telecom, S.A. Total

182,966

3,521,682

4.08

%

Quebecor Printing USA

Doraville, GA

Industrial

Manufacturing

South

432,559

1,940,625

2.25

%

CPI

December-09

December-34

Quebecor Printing USA

Olive Branch, MS

Industrial

Manufacturing

South

285,500

1,186,578

1.37

%

None

June-08

June-33

Quebecor Printing USA Total

718,059

3,127,203

3.62

%

Orbital Sciences Corporation

Chandler, AZ

Industrial

Manufacturing

West

335,307

3,022,947

3.50

%

CPI

September-09

September-29

Orbital Sciences Corporation Total

335,307

3,022,947

3.50

%

Federal Express Corporation (5)

Collierville, TN

Office

Transportation and Wareho using

South

39,038

679,162

0.79

%

CPI

August-19

August-39

Federal Express Corporation (5)

Collierville, TN

Office

Transportation and Wareho using

South

39,038

679,162

0.79

%

CPI

August-19

August-39

Federal Express Corporation (5)

Collierville, TN

Office

Transportation and Wareho using

South

39,038

679,162

0.79

%

CPI

August-19

August-39

Federal Express Corporation (5)

Collierville, TN

Office

Transportation and Wareho using

South

39,038

679,162

0.79

%

CPI

August-19

August-39

Federal Express Corporation (5)

College Station, TX

Warehouse/Distribution

Transportation and Wareho using

South

12,080

68,400

0.08

%

Stated

April-07

January-09

Federal Express Corporation (5)

Corpus Christi, TX

Warehouse/Distribution

Transportation and Wareho using

South

30,212

201,037

0.23

%

Stated

May-07

May-12

Federal Express Corporation (5) Total

198,444

2,986,085

3.46

%

Titan Corporation, The

San Diego, CA

Office

Manufacturing

West

166,403

2,862,068

3.31

%

CPI

July-07

July-32

Titan Corporation, The Total

166,403

2,862,068

3.31

%

America West Holdings Corporation(6)

Tempe, AZ

Office

Transportation and Wareho using

West

167,913

2,837,889

3.29

%

CPI

April-14

April-24

America West Holdings Corporation (6) Total

167,913

2,837,889

3.29

%

CheckFree Holdings, Inc. (7)

Norcross, GA

Office

Information

South

50,063

899,886

1.04

%

CPI

December-15

December-30

CheckFree Holdings, Inc. (7)

Norcross, GA

Office

Information

South

34,150

763,523

0.88

%

CPI

December-15

December-30

CheckFree Holdings, Inc. (7)

Norcross, GA

Office

Information

South

26,125

575,991

0.67

%

CPI

December-15

December-30

CheckFree Holdings, Inc. (7)

Norcross, GA

Office

Information

South

1

62,368

0.07

%

CPI

December-15

December-30

CheckFree Holdings, Inc. (7) Total

110,339

2,301,768

2.67

%

Ticker: WPC www.wpcarey.com

EXHIBIT E

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Property Location

Property Type

Tenant Type

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

AutoZone, Inc.

Decatur, AL

Retail

Retail Trade

South

5,400

44,620

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Bessemer, AL

Retail

Retail Trade

South

5,400

32,158

0.04

%

% Sales

February-11

February-26

AutoZone, Inc.

Phenix City, AL

Retail

Retail Trade

South

5,400

44,620

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Mobile, AL

Retail

Retail Trade

South

5,400

44,620

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Chickasaw, AL

Retail

Retail Trade

South

5,400

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Montgomery, AL

Retail

Retail Trade

South

5,400

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Panama City, FL

Retail

Retail Trade

South

5,401

35,345

0.04

%

% Sales

August-12

August-37

AutoZone, Inc.

Jacksonville, FL

Retail

Retail Trade

South

5,000

34,867

0.04

%

% Sales

August-12

August-37

AutoZone, Inc.

Jacksonville, FL

Retail

Retail Trade

South

5,400

47,772

0.06

%

% Sales

August-13

August-37

AutoZone, Inc.

Jacksonville, FL

Retail

Retail Trade

South

5,400

54,379

0.06

%

% Sales

August-13

August-37

AutoZone, Inc.

Columbus, GA

Retail

Retail Trade

South

5,400

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Albany, GA

Retail

Retail Trade

South

5,400

43,262

0.05

%

% Sales

August-13

August-37

AutoZone, Inc.

Brunswick, GA

Retail

Retail Trade

South

5,400

39,854

0.05

%

% Sales

August-13

August-37

AutoZone, Inc.

Augusta, GA

Retail

Retail Trade

South

5,400

34,138

0.04

%

% Sales

August-13

August-37

AutoZone, Inc.

Macon, GA

Retail

Retail Trade

South

5,400

49,503

0.06

%

% Sales

August-13

August-37

AutoZone, Inc.

Collinsville, IL

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

% Sales

February-11

February-26

AutoZone, Inc.

Alton, IL

Retail

Retail Trade

Midwest

5,400

44,620

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Wood River, IL

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

% Sales

February-11

February-26

AutoZone, Inc.

Belleville, IL

Retail

Retail Trade

Midwest

5,400

44,620

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

West Monroe, LA

Retail

Retail Trade

South

5,400

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Baton Rouge, LA

Retail

Retail Trade

South

5,400

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Lake Charles, LA

Retail

Retail Trade

South

6,480

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Lake Charles, LA

Retail

Retail Trade

South

6,480

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Baton Rouge, LA

Retail

Retail Trade

South

6,600

21,567

0.02

%

% Sales

March-09

March-14

AutoZone, Inc.

Baton Rouge, LA

Retail

Retail Trade

South

5,401

23,124

0.03

%

% Sales

April-09

April-09

AutoZone, Inc.

Hammond, LA

Retail

Retail Trade

South

6,480

40,121

0.05

%

% Sales

August-12

August-37

AutoZone, Inc.

Maplewood, MO

Retail

Retail Trade

Midwest

6,480

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

Overland, MO

Retail

Retail Trade

Midwest

6,480

43,414

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

St. Louis, MO

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

% Sales

February-11

February-26

AutoZone, Inc.

Breckenridge, MO

Retail

Retail Trade

Midwest

5,400

44,151

0.05

%

% Sales

February-11

February-26

AutoZone, Inc.

St. Peters, MO

Retail

Retail Trade

Midwest

5,400

48,957

0.06

%

% Sales

August-12

August-37

AutoZone, Inc.

St. Peters, MO

Retail

Retail Trade

Midwest

6,660

48,718

0.06

%

% Sales

August-12

August-37

AutoZone, Inc.

Gastonia, NC

Retail

Retail Trade

East

5,400

52,149

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

Charlotte, NC

Retail

Retail Trade

East

5,400

42,283

0.05

%

% Sales

January-11

January-26

AutoZone, Inc.

Statesville, NC

Retail

Retail Trade

East

5,400

50,739

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

Lenoir, NC

Retail

Retail Trade

East

5,400

50,739

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

Shelby, NC

Retail

Retail Trade

East

6,660

30,807

0.04

%

% Sales

August-12

August-38

AutoZone, Inc.

Kannapolis, NC

Retail

Retail Trade

East

6,408

24,069

0.03

%

% Sales

October-10

March-35

AutoZone, Inc.

Morgantown, NC

Retail

Retail Trade

East

5,400

19,451

0.02

%

% Sales

October-10

March-35

AutoZone, Inc.

Albuquerque, NM

Retail

Retail Trade

West

5,400

54,642

0.06

%

% Sales

August-13

March-35

AutoZone, Inc.

Farmington, NM

Retail

Retail Trade

West

5,400

41,479

0.05

%

% Sales

August-13

August-13

AutoZone, Inc.

Lexington, SC

Retail

Retail Trade

East

5,400

50,079

0.06

%

% Sales

August-13

June-08

AutoZone, Inc.

East Ridge, TN

Retail

Retail Trade

South

6,480

20,602

0.02

%

% Sales

October-08

October-13

AutoZone, Inc.

Knoxville, TN

Retail

Retail Trade

South

6,660

23,008

0.03

%

% Sales

May-09

May-09

AutoZone, Inc.

Austin, TX

Retail

Retail Trade

South

4,000

31,321

0.04

%

% Sales

January-11

January-26

AutoZone, Inc.

Waco, TX

Retail

Retail Trade

South

4,800

37,585

0.04

%

% Sales

January-11

January-26

AutoZone, Inc.

Corpus Christi, TX

Retail

Retail Trade

South

6,600

51,679

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

Corpus Christi, TX

Retail

Retail Trade

South

6,480

50,739

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

Victoria, TX

Retail

Retail Trade

South

6,480

50,739

0.06

%

% Sales

January-11

January-26

AutoZone, Inc.

San Antonio, TX

Retail

Retail Trade

South

5,400

42,283

0.05

%

% Sales

January-11

January-26

AutoZone, Inc.

Nederland, TX

Retail

Retail Trade

South

4,000

31,321

0.04

%

% Sales

January-11

January-26

AutoZone, Inc.

West Orange, TX

Retail

Retail Trade

South

4,000

31,321

0.04

%

% Sales

January-11

January-26

AutoZone, Inc.

Houston, TX

Retail

Retail Trade

South

5,400

53,488

0.06

%

% Sales

August-13

August-38

AutoZone, Inc.

San Antonio, TX

Retail

Retail Trade

South

5,400

55,795

0.06

%

% Sales

August-13

August-38

AutoZone, Inc. Total

302,230

2,216,594

2.57

%

Lucent Technologies, Inc.

Charlotte, NC

Industrial

Wholesale Trade

East

568,670

1,941,727

2.25

%

None

March-07

March-20

Lucent Technologies, Inc. Total

568,670

1,941,727

2.25

%

Information Resources, Inc. (8)

Chicago, IL

Office

Professional, Scientific and Technical Services Midwest

30,797

683,141

0.79

%

CPI

October-13

October-23

Information Resources, Inc. (8)

Chicago, IL

Office

Professional, Scientific and Technical Services Midwest

53,195

1,179,801

1.37

%

CPI

October-13

October-23

Information Resources, Inc. (8) Total

83,992

1,862,942

2.16

%

Sybron Dental Specialties, Inc. (Apogent Technologies, Inc)

Glendora, CA

Office

Manufacturing

West

25,000

489,246

0.57

%

CPI

December-18

December-43

Sybron Dental Specialties, Inc. (Apogent Technologies, Inc)

Romulus, MI

Industrial

Manufacturing

Midwest

220,000

1,281,052

1.48

%

CPI

December-18

December-43

Sybron Dental Specialties, Inc. (Apogent Technologies, Inc) Total

245,000

1,770,298

2.05

%

Unisource Worldwide, Inc.

Anchorage, AK

Warehouse/Distribution

Wholesale Trade

West

44,712

344,803

0.40

%

Stated

December-09

December-29

Unisource Worldwide, Inc.

Commerce, CA

Warehouse/Distribution

Wholesale Trade

West

411,561

1,422,080

1.65

%

Stated

April-10

April-30

Unisource Worldwide, Inc. Total

456,273

1,766,883

2.05

%

Brodart Company

Williamsport, PA

Industrial

Wholesale Trade

East

309,030

1,015,205

1.18

%

CPI

June-08

June-28

Brodart Company

Williamsport, PA

Industrial

Wholesale Trade

East

212,210

705,481

0.82

%

CPI

June-08

June-28

Brodart Company Total

521,240

1,720,686

1.99

%

Ticker: WPC www.wpcarey.com

EXHIBIT E

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Property Location

Property Type

Tenant Type

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

SICOR, Inc.

San Diego, CA

Office

Manufacturing

West

35,951

835,705

0.97

%

CPI

July-09

July-49

SICOR, Inc.

San Diego, CA

Office

Manufacturing

West

36,205

835,705

0.97

%

CPI

July-09

July-49

SICOR, Inc. Total

72,156

1,671,410

1.94

%

Fiskars, Inc. (aka enviroWorks)

Apopka, FL

Industrial

Manufacturing

South

260,160

1,125,458

1.30

%

CPI

March-10

March-35

Fiskars, Inc. (aka enviroWorks)

Apopka, FL

Industrial

Manufacturing

South

109,377

473,143

0.55

%

CPI

March-10

March-35

Fiskars, Inc. (aka enviroWorks)

Apopka, FL

Industrial

Manufacturing

South

5,292

22,863

0.03

%

CPI

March-10

March-35

Fiskars, Inc. (aka enviroWorks) Total

374,829

1,621,464

1.88

%

CSS Industries, Inc. (Cleo, Inc)

Memphis, TN

Warehouse/Distribution

Accomodation and Food Services

South

1,006,170

1,570,000

1.82

%

CPI

December-10

December-15

CSS Industries, Inc. (Cleo, Inc) Total

1,006,170

1,570,000

1.82

%

BE Aerospace, Inc.

Lenexa, KA

Office

Manufacturing

Midwest

130,094

617,799

0.72

%

Stated

September-17

September-37

BE Aerospace, Inc.

Winston-Salem, NC

Industrial

Manufacturing

East

90,800

248,458

0.29

%

Stated

September-17

September-37

BE Aerospace, Inc.

Winston-Salem, NC

Industrial

Manufacturing

East

74,026

202,553

0.23

%

Stated

September-17

September-37

BE Aerospace, Inc.

Winston-Salem, NC

Industrial

Manufacturing

East

50,200

137,364

0.16

%

Stated

September-17

September-37

BE Aerospace, Inc.

Winston-Salem, NC

Office

Manufacturing

East

43,788

119,813

0.14

%

Stated

September-17

September-37

BE Aerospace, Inc.

Winston-Salem, NC

Industrial

Manufacturing

East

15,402

42,146

0.05

%

Stated

September-17

September-37

BE Aerospace, Inc.

Dallas, TX

Office

Manufacturing

South

22,680

117,676

0.14

%

Stated

September-17

September-37

BE Aerospace, Inc. Total

426,990

1,485,809

1.72

%

Sprint Spectrum, L.P.

Rio Rancho, NM

Office

Information

West

94,730

1,424,561

1.65

%

None

May-11

May-21

Sprint Spectrum, L.P. Total

94,730

1,424,561

1.65

%

Amerisure Mutual Insurance Co.

Charleston, SC

Office

Finance and Insurance

East

67,160

729,195

0.84

%

None

December-07

December-28

Amerisure Mutual Insurance Co.

Charleston, SC

Office

Finance and Insurance

East

22,557

246,235

0.29

%

None

December-07

December-28

Amerisure Mutual Insurance Co.

Charleston, SC

Office

Finance and Insurance

East

38,037

406,826

0.47

%

None

December-07

December-28

Amerisure Mutual Insurance Co. Total

127,754

1,382,256

1.60

%

BellSouth Telecommunications

Lafayette, LA

Office

Information

South

66,846

1,351,150

1.56

%

Stated

December-09

December-39

BellSouth Telecommunications Total

66,846

1,351,150

1.56

%

Lowe’s Home Improvement Warehouse

Bellevue, WA

Retail

Wholesale Trade

West

143,352

1,335,411

1.55

%

CPI & % Sales

August-18

August-18

Lowe’s Home Improvement Warehouse Total

143,352

1,335,411

1.55

%

AT&T Corporation

Bridgeton, MO

Industrial

Information

Midwest

85,510

1,257,410

1.46

%

Stated

September-11

September-21

U

AT&T Corporation Total

85,510

1,257,410

1.46

%

Swat-Fame, Inc. (City of Industry, CA)

City of Industry, CA

Industrial

Manufacturing

West

92,595

292,781

0.34

%

Stated

July-06

July-08

Swat-Fame, Inc. (City of Industry, CA)

City of Industry, CA

Industrial

Manufacturing

West

233,205

949,663

1.10

%

CPI

December-10

December-20

Swat-Fame, Inc. (City of Industry, CA) Total

325,800

1,242,444

1.44

%

United States Postal Service (Bloomington, IL)

Bloomingdale, IL

Office

Transportation and Warehousing

Midwest

60,000

1,233,000

1.43

%

Stated

April-11

N/A

United States Postal Service (Bloomington, IL) Total

60,000

1,233,000

1.43

%

Livho Inc.

Livonia, MI

Hospitality

Accomodation and Food Services

Midwest

158,000

1,200,000

1.39

%

Stated

January-07

January-08

Livho Inc. Total

158,000

1,200,000

1.39

%

Hologic, Inc. (9)

Danbury, CT

Industrial

Manufacturing

East

22,335

210,526

0.24

%

CPI

August-22

August-42

Hologic, Inc. (9)

Bedford, MA

Industrial

Manufacturing

East

74,520

925,612

1.07

%

CPI

August-22

August-42

Hologic, Inc. (9) Total

96,855

1,136,138

1.32

%

Anthony’s Manufacturing Company, Inc.

San Fernando, CA

Industrial

Wholesale Trade

West

7,220

43,127

0.05

%

CPI/Market

May-12

May-12

Anthony’s Manufacturing Company, Inc.

San Fernando, CA

Industrial

Wholesale Trade

West

40,285

240,527

0.28

%

CPI/Market

May-12

May-12

Anthony’s Manufacturing Company, Inc.

San Fernando, CA

Industrial

Wholesale Trade

West

39,920

238,343

0.28

%

CPI/Market

May-12

May-12

Anthony’s Manufacturing Company, Inc.

San Fernando, CA

Industrial

Wholesale Trade

West

95,420

569,819

0.66

%

CPI/Market

May-12

May-12

Anthony’s Manufacturing Company, Inc. Total

182,845

1,091,816

1.26

%

Omnicom Group, Inc.

Venice, CA

Office

Professional, Scientific and Technical Services

West

77,719

1,082,685

1.25

%

Stated

September-10

September-30

Omnicom Group, Inc. Total

77,719

1,082,685

1.25

%

Lockheed Martin Corporation

King of Prussia, PA

Office Profe

ssional, Scientific and Technical Services

East

88,578

797,202

0.92

%

Stated

July-08

July-13

Lockheed Martin Corporation

Houston, TX

Industrial Profe

ssional, Scientific and Technical Services

South

30,176

241,416

0.28

%

Stated

December-07

December-09

Lockheed Martin Corporation Total

118,754

1,038,618

1.20

%

Ticker: WPC www. wpcarey.com

EXHIBIT E

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Property Location

Property Type

Tenant Type

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

Werner Co.

Erlanger, KY

Warehouse/Distribution

Manufacturing

East

409,600

762,048

0.88

%

CPI

July-15

July-21

Werner Co.

Erlanger, KY

Warehouse/Distribution

Manufacturing

East

162,604

274,365

0.32

%

CPI

July-15

July-21

Werner Co. Total

572,204

1,036,413

1.20

%

United Stationers Supply Company

New Orleans, LA

Warehouse/Distribution

Wholesale Trade

South

59,000

366,539

0.42

%

CPI

March-10

March-30

United Stationers Supply Company

Memphis, TN

Warehouse/Distribution

Wholesale Trade

South

75,000

317,385

0.37

%

CPI

March-10

March-30

United Stationers Supply Company

San Antonio, TX

Warehouse/Distribution

Wholesale Trade

South

63,098

350,913

0.41

%

CPI

March-10

March-30

United Stationers Supply Company Total

197,098

1,034,837

1.20

%

United Space Alliance LLC

Webster, TX

Warehouse/Distribution

Professional, Scientific and Technical Services

South

88,200

505,020

0.58

%

Stated

September-06

September-15

United Space Alliance LLC

Houston, TX

Industrial

Professional, Scientific and Technical Services

South

38,150

381,500

0.44

%

Stated

April-06

April-11

United Space Alliance LLC

Houston, TX

Industrial

Professional, Scientific and Technical Services

South

7,151

71,508

0.08

%

None

April-06

April-06

United Space Alliance LLC

Houston, TX

Industrial

Professional, Scientific and Technical Services

South

6,104

61,040

0.07

%

Stated

April-06

April-06

United Space Alliance LLC Total

139,605

1,019,068

1.18

%

GATX Logistics, Inc. (aka Sears logistics services)

Jacksonville, FL

Warehouse/Distribution

Wholesale Trade

South

240,000

969,946

1.12

%

None

September-07

September-07

GATX Logistics, Inc. (aka Sears logistics services) Total

240,000

969,946

1.12

%

Wal-Mart Stores, Inc.

West Mifflin, PA

Retail

Retail Trade

East

121,053

950,905

1.10

%

CPI

January-07

January-37

Wal-Mart Stores, Inc. Total

121,053

950,905

1.10

%

Pre Finish Metals, Inc.

Walbridge, OH

Industrial

Manufacturing

Midwest

313,704

892,091

1.03

%

CPI

June-08

June-28

��

Pre Finish Metals, Inc. Total

313,704

892,091

1.03

%

NVR L.P. (aka NV Ryan, Inc.)

Thurmont, MD

Industrial

Construction

East

150,468

687,992

0.80

%

CPI

March-14

March-39

NVR L.P. (aka NV Ryan, Inc.)

Farmington, NY

Industrial

Construction

East

29,273

132,805

0.15

%

CPI

March-14

March-39

NVR L.P. (aka NV Ryan, Inc.) Total

179,741

820,797

0.95

%

Hibbett Sporting Goods, Inc.

Birmingham, AL

Warehouse/Distribution

Retail Trade

South

219,312

819,935

0.95

%

CPI

December-14

December-29

Hibbett Sporting Goods, Inc. Total

219,312

819,935

0.95

%

AMS Holding Group (Vertafore, Inc.)

College Station, TX

Office

Information

South

52,552

765,101

0.89

%

None

December-09

December-09

AMS Holding Group (Vertafore, Inc.) Total

52,552

765,101

0.89

%

Powerware Corporation (aka Exide Electronics Corp.)

Raleigh, NC

Office

Manufacturing

East

27,770

730,215

0.85

%

CPI

July-06

July-31

Powerware Corporation (aka Exide Electronics Corp.) Total

27,770

730,215

0.85

%

Saturday Knight

Amberley Village, OH

Retail

Wholesale Trade

Midwest

441,923

662,884

0.77

%

None

June-06

June-06

Saturday Knight Total

441,923

662,884

0.77

%

BellSouth Entertainment, Inc.

Ft. Lauderdale, FL

Warehouse/Distribution

Information

South

80,450

576,372

0.67

%

None

June-09

June-19

BellSouth Entertainment, Inc. Total

80,450

576,372

0.67

%

Western Union Financial Services, Inc.

Bridgeton, MO

Office

Finance and Insurance

Midwest

78,080

573,221

0.66

%

Stated

November-06

November-11

Western Union Financial Services, Inc. Total

78,080

573,221

0.66

%

Deloro Stellite (DS) Group Ltd. Total

Goshen, IN

Industrial

Manufacturing

Midwest

52,000

563,715

0.65

%

CPI

February-10

February-35

Deloro Stellite (DS) Group Ltd. Total Total

52,000

563,715

0.65

%

Childtime Childcare, Inc. (10)

Chandler, AZ

Other Properties

Health Care and Social Assistance

West

2,026

35,254

0.04

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Tucson, AZ

Other Properties

Health Care and Social Assistance

West

2,165

36,751

0.04

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Alhambra, CA

Other Properties

Health Care and Social Assistance

West

2,262

53,011

0.06

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Chino, CA

Other Properties

Health Care and Social Assistance

West

2,166

46,300

0.05

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Garden Grove, CA

Other Properties

Health Care and Social Assistance

West

2,848

45,526

0.05

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Tustin, CA

Other Properties

Health Care and Social Assistance

West

2,264

52,598

0.06

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Westland, MI

Other Properties

Health Care and Social Assistance

Midwest

2,472

26,376

0.03

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Sterling Heights, MI

Other Properties

Health Care and Social Assistance

Midwest

2,311

47,797

0.06

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Westland, MI

Other Properties

Health Care and Social Assistance

Midwest

2,787

34,583

0.04

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Carrollton, TX

Other Properties

Health Care and Social Assistance

South

2,438

45,991

0.05

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Duncanville, TX

Other Properties

Health Care and Social Assistance

South

2,438

45,991

0.05

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10)

Lewisville, TX

Other Properties

Health Care and Social Assistance

South

2,440

45,991

0.05

%

CPI

January-16

January-41

Childtime Childcare, Inc. (10) Total

28,617

516,169

0.60

%

Aviva France (fka Tellit Assurances — Sun Alliance) (3)

Rouen, France

Office

Finance and Insurance

Europe

27,593

497,475

0.58

%

INSEE(2)

September-10

September-10

Aviva France (fka Tellit Assurances — Sun Alliance) (3) Total

27,593

497,475

0.58

%

ALCOA Inc

Salisbury, NC

Warehouse/Distribution

Manufacturing

East

200,000

459,082

0.53

%

CPI

June-10

June-20

ALCOA Inc Total

200,000

459,082

0.53

%

Ticker: WPC www. wpcarey.com

EXHIBIT E

					Square		Annualized		Percentage of			Increase	Lease	Maximum
Tenant/Lease Guarantor	Property Location	Property Type	Tenant Type	Region	Footage		Rent		Total Rent			Factor	Expiration	Term
Yale Security, Inc.	Lemont, IL	Industrial	Manufacturing	Midwest		113,133		459,000		0.53	%	Stated	March-11	March-11
Yale Security, Inc. Total						113,133		459,000		0.53	%
Affiliated Foods Southwest, Inc.	Hope, AR	Retail	Wholesale Trade	South		35,784		85,882		0.10	%	CPI	March-07	March-37
Affiliated Foods Southwest, Inc.	Hope, AR	Retail	Wholesale Trade	South		21,932		34,745		0.04	%	CPI	March-07	March-22
Affiliated Foods Southwest, Inc.	Little Rock, AR	Retail	Wholesale Trade	South		64,358		295,611		0.34	%	None	January-09	January-24
Affiliated Foods Southwest, Inc. Total						122,074		416,238		0.48	%
Kmart Corporation	Citrus Heights, CA	Retail	Retail Trade	West		89,760		180,000		0.21	%	None	May-11	May-26
Kmart Corporation	Drayton Plains, MI	Retail	Retail Trade	Midwest		103,018		210,000		0.24	%	None	March-11	March-26
Kmart Corporation Total						192,778		390,000		0.45	%
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.)	Beaumont, TX	Office	Construction	South		34,300		296,352		0.34	%	Stated	December-11	December-14
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.)	Beaumont, TX	Office	Construction	South		8,580		74,217		0.09	%	Stated	December-11	December-14
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.) Total						42,880		370,569		0.43	%
Laboratoires Nycomed Amersham (3)	Pantin, France	Office	Manufacturing	Europe		15,404		355,712		0.41	%	INSEE(2)	January-10	January-10
Laboratoires Nycomed Amersham (3) Total						15,404		355,712		0.41	%
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.)	Toledo, OH	Industrial	Manufacturing	Midwest		61,000		336,000		0.39	%	CPI	November-22	November-42
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.) Total						61,000		336,000		0.39	%
Alstom Power Inc.	Erlanger, KY	Warehouse/Distribution	Professional, Scientific and Technical Services	East		118,200		287,220		0.33	%	Stated	May-13	May-13
Alstom Power Inc. Total						118,200		287,220		0.33	%
Roof Center, Inc., The	Manassas, VA	Industrial	Wholesale Trade	East		60,446		280,901		0.33	%	Stated	July-09	July-09
Roof Center, Inc., The Total						60,446		280,901		0.33	%
Winn-Dixie, Inc.	Montgomery, AL	Retail	Retail Trade	South		32,690		138,933		0.16	%	% Sales	March-08	March-38
Winn-Dixie, Inc.	Brewton, AL	Retail	Retail Trade	South		30,625		134,500		0.16	%	% Sales	October-10	October-10
Winn-Dixie, Inc. Total						63,315		273,433		0.32	%
US WEST Communications, Inc. (Qwest Communications)	Scottsdale, AZ	Industrial	Information	West		2,900		175,735		0.20	%	None	February-07	February-07
US WEST Communications, Inc. (Qwest Communications)	Scottsdale, AZ	Industrial	Information	West		1,560		94,535		0.11	%	None	February-07	February-07
US WEST Communications, Inc. (Qwest Communications) Total						4,460		270,270		0.31	%
SARL S3T (11)	Loire, France	Office	Information	Europe		55,594		267,858		0.31	%	INSEE(2)	May-08	May-08
SARL S3T (11) Total						55,594		267,858		0.31	%
Honeywell, Inc.	Houston, TX	Office	Manufacturing	South		1		36,000		0.04	%	Stated	September-10	September-05
Honeywell, Inc.	Houston, TX	Warehouse/Distribution	Manufacturing	South		32,320		228,828		0.26	%	Stated	September-10	December-22
Honeywell, Inc. Total						32,321		264,828		0.31	%
Northern Tube, Inc.	Pinconning, MI	Industrial	Manufacturing	Midwest		220,588		254,538		0.29	%	CPI	July-13	July-23
Northern Tube, Inc. Total						220,588		254,538		0.29	%
Direction Regional des Affaires Sanitaires et Sociales (3)	Rouen, France	Office	Public Administration	Europe		19,214		245,155		0.28	%	INSEE(2)	March-06	March-06
Direction Regional des Affaires Sanitaires et Sociales (3) Total						19,214		245,155		0.28	%
Penberthy Products, Inc.	Prophetstown, IL	Industrial	Manufacturing	Midwest		161,878		237,486		0.27	%	CPI	April-11	April-26
Penberthy Products, Inc. Total						161,878		237,486		0.27	%
DSM Food Specialties (11)	Lille, France	Office	Wholesale Trade	Europe		29,870		233,067		0.27	%	INSEE(2)	May-08	May-08
DSM Food Specialties (11) Total						29,870		233,067		0.27	%
Ace Hardware (Bay Area Blvd, Houston TX)	Houston, TX	Retail	Wholesale Trade	South		23,569		212,121		0.25	%	Stated	March-16	March-16
Ace Hardware (Bay Area Blvd, Houston TX) Total						23,569		212,121		0.25	%
Department de Seine St. Denis(3)	Pantin, France	Office	Public Administration	Europe		8,451		211,678		0.25	%	INSEE(2)	December-11	December-11
Department de Seine St. Denis (3) Total						8,451		211,678		0.25	%
Verizon Communications, Inc.	Milton, VT	Industrial	Information	East		30,624		208,467		0.24	%	Stated	February-13	February-13
Verizon Communications, Inc. Total						30,624		208,467		0.24	%
La Region Ile de France(3)	Pantin, France	Office	Public Administration	Europe		7,613		186,360		0.22	%	INSEE(2)	October-12	October-12
La Region Ile de France (3) Total						7,613		186,360		0.22	%
GIE Groupe Vauban(3)	Pantin, France	Office	Finance and Insurance	Europe		7,613		174,333		0.20	%	INSEE(2)	September-12	September-12
GIE Groupe Vauban (3) Total						7,613		174,333		0.20	%
Xerox Corporation	Hot Springs, AR	Retail	Manufacturing	South		36,850		167,667		0.19	%	None	May-10	May-21
Xerox Corporation Total						36,850		167,667		0.19	%
Continental Airlines, Inc.	Houston, TX	Warehouse/Distribution	Transportation and Warehousing	South		25,125		157,200		0.18	%	Stated	July-08	July-08
Continental Airlines, Inc. Total						25,125		157,200		0.18	%
Golder Associates Inc.	Houston, TX	Office	Professional, Scientific and Technical Services	South		11,396		103,368		0.12	%	None	October-10	October-20
Golder Associates Inc. Total						11,396		103,368		0.12	%

Ticker: WPC www. wpcarey.com

EXHIBIT E

						Square		Annualized		Percentage of			Increase	Lease		Maximum
Tenant/Lease Guarantor	Property Location	Property Type	Tenant Type		Region	Footage		Rent		Total Rent			Factor	Expiration		Term
Custom Training Group	Houston, TX	Warehouse/Distribution	Educational Services		South		4,456		40,080		0.05	%	Stated	August-06		August-06
Custom Training Group	Houston, TX	Warehouse/Distribution	Educational Services		South		7,248		59,400		0.07	%	Stated	December-06		December-06
Custom Training Group Total							11,704		99,480		0.12	%
RATP (3)	Pantin, France	Office	Transportation and Warehousing		Europe		3,407		83,509		0.10	%	INSEE(2)	November-09		November-09
RATP (3) Total							3,407		83,509		0.10	%
General Services Administration (US Government) in Bloomington	Bloomingdale, IL	Office	Public Administration		Midwest		3,949		74,834		0.09	%	Stated	April-06		April-06
General Services Administration (US Government) in Bloomington ,IL Total							3,949		74,834		0.09	%
Bike Barn Holding Company, Inc. (Bay Area Blvd, Houston, TX)	Houston, TX	Retail	Retail Trade		South		6,216		71,280		0.08	%	Stated	August-10		August-10
Bike Barn Holding Company, Inc. (Bay Area Blvd, Houston, TX) Total							6,216		71,280		0.08	%
Sverdrup Technology Inc.	Houston, TX	Warehouse/Distribution	Professional, Scientific and Technical Services		South		10,960		71,040		0.08	%	None	January-06		January-07
Sverdrup Technology Inc. Total							10,960		71,040		0.08	%
Work Ready, Inc (Century Plaza Drive Houston, TX)	Houston, TX	Warehouse/Distribution	Health Care and Social Assistance		South		7,306		70,560		0.08	%	Stated	August-06		August-06
Work Ready, Inc (Century Plaza Drive Houston, TX) Total							7,306		70,560		0.08	%
Kenyon International Emergency Services (Pepsi)	Houston, TX	Warehouse/Distribution	Manufacturing		South		17,725		70,014		0.08	%	Stated	October-09		October-19
Kenyon International Emergency Services (Pepsi) Total							17,725		70,014		0.08	%
Richard Millburn Academy (Century Plaza Drive Houston, TX)	Houston, TX	Warehouse/Distribution	Educational Services		South		7,860		69,840		0.08	%	Stated	September-08		September-08
Richard Millburn Academy (Century Plaza Drive Houston, TX) Total							7,860		69,840		0.08	%
L’Agence Nationale Pour L’Emploi (3)	Pantin, France	Office	Public Administration		Europe		3,633		68,586		0.08	%	INSEE(2)	June-07		June-07
L’Agence Nationale Pour L’Emploi (3) Total							3,633		68,586		0.08	%
Raytheon Company	Webster, TX	Industrial	Professional, Scientific and Technical Services		South		9,138		65,796		0.08	%	Stated	July-10		July-25
Raytheon Company Total							9,138		65,796		0.08	%
Rocky Mountain Pool Table Co. (Broomfield Tech Center)	Broomfield, CO	Office	Retail Trade		West		13,091		64,596		0.07	%	None	March-06		March-06
Rocky Mountain Pool Table Co. (Broomfield Tech Center) Total							13,091		64,596		0.07	%
AFPOLS (3)	Pantin, France	Office	Public Administration		Europe		3,488		59,727		0.07	%	INSEE(2)	June-08		June-08
AFPOLS (3) Total							3,488		59,727		0.07	%
Trans American Automation Inc. (Century Plaza Drive Houston, TX)	Houston, TX	Warehouse/Distribution	Manufacturing		South		5,632		48,660		0.06	%	Stated	February-07		February-12
Trans American Automation Inc. (Century Plaza Drive Houston, TX) Total							5,632		48,660		0.06	%
Olmstead Kirk Paper Company (Beaumont, TX)	Beaumont, TX	Office	Manufacturing		South		5,760		41,305		0.05	%	Stated	December-07		December-07
Olmstead Kirk Paper Company (Beaumont, TX) Total							5,760		41,305		0.05	%
Rhino Liners	Broomfield, CO	Office	Retail Trade		West		5,517		35,861		0.04	%	None	June-06		June-06
Rhino Liners Total							5,517		35,861		0.04	%
Introtell (Broomfield Tech Center)	Broomfield, CO	Office	Retail Trade		West		10,952		34,080		0.04	%	None	February-10		February-10
Introtell (Broomfield Tech Center) Total							10,952		34,080		0.04	%
G.T. of the Front Range	Broomfield, CO	Office	Retail Trade		West		9,401		31,956		0.04	%	None	May-06		May-06
G.T. of the Front Range Total							9,401		31,956		0.04	%
Facilities Management Solutions	Webster, TX	Warehouse/Distribution	Administrative and Support and Waste Management and Remediation Services		South		3,600		30,240		0.04	%	Stated	December-05		December-05
Facilities Management Solutions Total							3,600		30,240		0.04	%
Scientific Martial Arts & Fitness	Broomfield, CO	Office	Educational Services		West		5,488		24,696		0.03	%	Stated	February-09		February-19
Scientific Martial Arts & Fitness Total							5,488		24,696		0.03	%
Aardvark IT Solutions	Broomfield, CO	Office	Retail Trade		West		5,953		19,347		0.02	%	None	September-06			N/A
Aardvark IT Solutions Total							5,953		19,347		0.02	%
Royal Hermitage Bedding	Paris, France	Office	Manufacturing		Europe		2,301		15,841		0.02	%	INSEE(2)		N/A		N/A
Royal Hermitage Bedding Total							2,301		15,841		0.02	%
Michael Lau	Broomfield, CO	Office		N/A	West		4,162		14,400		0.02	%	None	April-06		April-06
Michael Lau Total							4,162		14,400		0.02	%

Ticker: WPC www. wpcarey.com

EXHIBIT E

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Property location

Property Type

Tenant Type

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

Marathon System Service

Broomfield, CO

Office

Information

West

2,283

14,177

0.02

%

None

November-07

November-07

Marathon System Service Total

2,283

14,177

0.02

%

Sundew Technologies

Broomfield, CO

Office

Administrative and Support and Waste Management and Remediation Services

West

3,745

12,805

0.01

%

None

October-07

October-07

Sundew Technologies Total

3,745

12,805

0.01

%

Fine Art Mannequins, LLC

Broomfield, CO

Office

N/A

West

2,209

7,643

0.01

%

None

April-07

April-07

Fine Art Mannequins, LLC

Broomfield, CO

Office

N/A

West

3,450

4,800

0.01

%

None

April-07

April-07

Fine Art Mannequins, LLC Total

5,659

12,443

0.01

%

Red Cloud Telecom Products, Inc.

Broomfield, CO

Office

Information

West

2,093

12,000

0.01

%

None

June-06

June-06

Red Cloud Telecom Products, Inc. Total

2,093

12,000

0.01

%

Appointment Quest

Broomfield, CO

Office

Information

West

1,670

11,460

0.01

%

None

May-06

N/A

Appointment Quest Total

1,670

11,460

0.01

%

Abilis

Pantin, France

Office

Other Services (except Public Administration)

Europe

0

9,346

0.01

%

INSEE(2)

February-07

January-08

Abilis Total

0

9,346

0.01

%

Classic Cuisines Catering

Bloomingdale, IL

Office

Accomodation and Food Services

Midwest

1,000

9,000

0.01

%

None

October-08

N/A

Classic Cuisines Catering Total

1,000

9,000

0.01

%

Ass Comite Dept du Tourisme

Pantin, France

Office

Tourism

Europe

N/A

8,538

0.01

%

INSEE(2)

June-07

June-07

Ass Comite Dept du Tourisme Total

0

8,538

0.01

%

AT&T Wireless Service

Broomfield, CO

Office

Information

West

730

8,208

0.01

%

Stated

May-06

N/A

AT&T Wireless Service Total

730

8,208

0.01

%

Remote Access Diagnostic Radiography

Broomfield, CO

Office

N/A

West

2,093

7,179

0.01

%

None

October-06

October-06

Remote Access Diagnostic Radiography Total

2,093

7,179

0.01

%

Orange(3)

Pantin, France

Office

Information

Europe

N/A

6,249

0.01

%

None

June-15

N/A

Orange (3) Total

0

6,249

0.01

%

Photo Center

Hot Springs, AR

Retail

Manufacturing

South

340

4,800

0.01

%

N/A

N/A

N/A

Photo Center Total

340

4,800

0.01

%

Byron Jacquot

Broomfield, CO

Office

N/A

West

1,105

3,978

0.00

%

None

September-06

September-06

Byron Jacquot Total

1,105

3,978

0.00

%

DLH Management Corporation

Broomfield, CO

Office

N/A

West

1,510

2,280

0.00

%

None

February-06

February-06

DLH Management Corporation Total

1,510

2,280

0.00

%

Tempered Air Services, Inc.

Broomfield, CO

Office

N/A

West

1,200

1,200

0.00

%

None

March-06

March-06

Tempered Air Services, Inc. Total

1,200

1,200

0.00

%

Vacant

Travelers Rest, SC

Industrial

N/A

East

181,700

—

—

N/A

N/A

N/A

Vacant

Amberley Village, OH

Retail

N/A

Midwest

151,417

—

—

N/A

N/A

N/A

Vacant

Salisbury, NC

Warehouse/Distribution

N/A

East

87,000

—

—

N/A

N/A

N/A

Vacant

Erlanger, KY

Warehouse/Distribution

N/A

East

79,200

—

—

N/A

N/A

N/A

Vacant

Moorestown, NJ

Office

N/A

East

65,567

—

—

N/A

N/A

N/A

Vacant

Reno, NV

Office

Transportation and Warehousing

West

53,158

—

—

N/A

N/A

N/A

Vacant

Bloomingdale, IL

Office

N/A

Midwest

36,967

—

—

N/A

N/A

N/A

Vacant

Bay Minette, AL

Retail

N/A

South

34,887

—

—

N/A

N/A

N/A

Vacant

Broomfield, CO

Office

N/A

West

22,477

—

—

N/A

N/A

N/A

Vacant

Webster, TX

Industrial

N/A

South

17,859

—

—

N/A

N/A

N/A

Vacant (Common Area Space)

Bloomingdale, IL

Office

N/A

Midwest

14,084

—

—

N/A

N/A

N/A

Vacant

Salisbury, NC

Industrial

N/A

East

13,284

—

—

N/A

N/A

N/A

Vacant

Salisbury, NC

Warehouse/Distribution

N/A

East

10,681

—

—

N/A

N/A

N/A

Vacant

Broomfield, CO

Office

N/A

West

9,426

—

—

N/A

N/A

N/A

Vacant

Broomfield, CO

Office

N/A

West

5,819

—

—

N/A

N/A

N/A

Vacant

Houston, TX

Office

N/A

South

5,742

—

—

N/A

N/A

N/A

Vacant

Broomfield, CO

Office

N/A

West

1,033

—

—

N/A

N/A

N/A

Vacant

Cincinnati, OH

Office

N/A

Midwest

1

—

—

N/A

N/A

N/A

Vacant Total

790,302

Grand Total

16,996,414

86,359,924

100

%

(1)	WPC LLC owns 95% of this property. Rents reflect a conversion rate of 1.2076 USD/EUR as of March 31, 2006.
(2)	INSEE construction index, an index published quarterly by the French Government.
(3)	WPC LLC owns 75% of this property. Rents reflect a conversion rate of 1.2076 USD/EUR as of March 31, 2006.
(4)	WPC LLC owns 22.5% of this property. Rents reflect a conversion rate of 1.2076 USD/EUR as of March 31, 2006.
(5)	WPC LLC owns 40% of this property.
(6)	WPC LLC owns 74.583% of this property.
(7)	WPC LLC owns 50% of this property.
(8)	WPC LLC owns 33.33% of this property.
(9)	WPC LLC owns 36.00% of this property.
(10)	WPC LLC owns 33.93% of this property.
(11)	WPC LLC owns 80% of this property. Rents reflect a conversion rate of 1.2076 USD/EUR as of March 31, 2006.

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