EXHIBIT 99.1
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W. P. Carey & Co. LLC
Supplemental Disclosure Report
Supplemental Disclosure Report
For the Quarter Ended
June 30, 2006
June 30, 2006
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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. As used in this supplemental disclosure report, the terms “the Company,” “we,” “us” and “our” include W. P. Carey & 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 June 30, 2006
Contents | Page | |||||||
CORPORATE PROFILE: | ||||||||
Company Overview | 5 | |||||||
Second Quarter June 30, 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 & 14 | |||||||
Selected Financial Ratios Analysis | 15 | |||||||
Portfolio Debt Summary | 16 | |||||||
Mortgage Debt Maturity Profile | 17 | |||||||
ACQUISITIONS & DISPOSITIONS: | ||||||||
2006 Acquisitions Update | 19 | |||||||
2006 Dispositions Update | 20 | |||||||
PORTFOLIO ANALYSIS: | ||||||||
Portfolio Diversification Analysis by Rent Contribution | 22 | |||||||
Portfolio Diversification Analysis by Property Type | 23 | |||||||
Portfolio Diversification Analysis by Tenant Industry | 24 | |||||||
Portfolio Diversification Analysis by Geography | 25 | |||||||
Portfolio Lease Maturity Analysis | 26 | |||||||
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
June 30, 2006
June 30, 2006
STOCK DATA | ||||
Exchanges | NYSE & PCX | |||
Ticker | WPC | |||
Closing Price Range three months ended June 30, 2006 | $24.89-$28.08 | |||
Listed Shares Outstanding as of June 30, 2006 | 38,054,358 | |||
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 |
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
Second Quarter and Six Month Ended 2006 Results
Financial Results
Net income for the three-month period increased 2% to $17.3 million, as compared to $16.9 million for the same period in 2005. Net income for the six-month period increased 24% to $28.4 million, as compared to $22.8 million for the same period in 2005.
Diluted earnings per share (EPS) for the three-month period increased 2% to $0.44 as compared to $0.43 for the same period in 2005. Diluted earnings per share (EPS) for the six-month period increased 26% to $0.73 as compared to $0.58 for the same period in 2005.
Funds from Operations (FFO) for the three-month period increased 15% to $28.4 million, or $0.72 per diluted share, as compared to $24.8 million, or $0.64 per diluted share, for the comparable period in 2005. FFO for the six-month period increased 3% to $50.4 million, or $1.30 per diluted share, as compared to $48.7 million, or $1.24 per diluted share, for the comparable period in 2005.
Income from continuing operations for the three-month period increased 40% to $18 million, as compared to $12.9 million for the same period in 2005. Income from continuing operations for the six-month period increased 27% to $33.1 million, as compared to $26.1 million for the same period in 2005.
Cash flows from operating activities for the six-month period increased 18% to $35.6 million, as compared to $30.3 million for the comparable period in 2005, paralleling the increase in net income.
Dividend Increase
The Board of Directors raised the quarterly cash distribution to $0.454 per share, which was paid on July 14, 2006 to shareholders of record on June 30, 2006.
Investment Highlights
For the three-month period ended June 30, 2006, the Company completed three investments totaling $83 million, on behalf of CPA ®:16 – Global, as compared to nine investments totaling $262 million, on behalf of CPA®:15 and CPA®:16 – Global, for the comparable period in 2005. For the six-month period ended June 30, 2006, the Company completed eight investments totaling $338 million, on behalf of CPA®:15 and CPA®:16 – Global, as compared to 14 investments totaling $627 million, on behalf of CPA®:15 and CPA®:16 – Global, for the comparable period in 2005.
Ticker: WPC | 6 | www.wpcarey.com |
SECTION: CORPORATE PROFILE
W. P. CAREY & CO. LLC
Financial Highlights
(in thousands, except share and per share data)
(in thousands, except share and per share data)
For the Six Months | For the Six Months | For the Quarter | For the Quarter | |||||||||||||
Ended | Ended | Ended | Ended | |||||||||||||
June 30, 2006 | June 30, 2005 | June 30, 2006 | June 30, 2005 | |||||||||||||
Operations | ||||||||||||||||
Total Revenues from Continuing Operations | $ | 105,537 | $ | 89,110 | $ | 57,659 | $ | 43,948 | ||||||||
Net Income | $ | 28,369 | $ | 22,788 | $ | 17,304 | $ | 16,933 | ||||||||
Funds From Operations (FFO) | $ | 50,381 | $ | 48,718 | $ | 28,434 | $ | 24,807 | ||||||||
Per Share | ||||||||||||||||
FFO (Diluted) | $ | 1.30 | $ | 1.24 | $ | 0.72 | $ | 0.64 | ||||||||
Dividends Declared | $ | 0.906 | $ | 0.890 | $ | 0.454 | $ | 0.446 | ||||||||
Pay Out Ratio (Dividends Declared/FFO) | 69.8 | % | 71.9 | % | 62.9 | % | 70.1 | % | ||||||||
Weighted Average Listed Shares Outstanding (Diluted) | 38,794,914 | 39,346,537 | 39,416,433 | 39,017,636 | ||||||||||||
Balance Sheet | As of 6/30/06 | As of 6/30/05 | ||||||||||||||
Total Assets | $ | 997,922 | $ | 962,411 | ||||||||||||
Limited Recourse Mortgage Debt(1) | $ | 253,897 | $ | 174,874 | ||||||||||||
Credit Facility | $ | 2,000 | $ | 77,000 | ||||||||||||
Members’ Equity | $ | 602,295 | $ | 613,812 | ||||||||||||
Stock Data | ||||||||||||||||
Price Range | $ | 24.89 - $28.08 | ||||||||||||||
Dividend Yield Range | 6.47% - 7.30 | % | ||||||||||||||
Average Trading Volume | 31,464 | |||||||||||||||
Price/Estimated FFO (2) | 9.18 |
(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 15 for details. | |
(2) | Based on a stock price of $25.24 on August 8, 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)
(in thousands, except share and per share data)
For the Six Months | For the Six Months | For the Quarter | For the Quarter | |||||||||||||
Ended | Ended | Ended | Ended | |||||||||||||
June 30, 2006 | June 30, 2005 | June 30, 2006 | June 30, 2005 | |||||||||||||
Net income | $ | 28,369 | $ | 22,788 | $ | 17,304 | $ | 16,933 | ||||||||
Gain on sale of real estate | — | (9,119 | ) | — | (9,139 | ) | ||||||||||
FFO of equity investees in excess of equity income | 6,000 | 4,835 | 3,175 | 2,608 | ||||||||||||
Depreciation, amortization, deferred taxes and other non-cash charges | 11,516 | 12,741 | 7,270 | 7,400 | ||||||||||||
FFO applicable to minority investees in excess of minority income | (418 | ) | (226 | ) | (181 | ) | (108 | ) | ||||||||
Straight-line rents | 1,557 | 1,878 | 866 | 964 | ||||||||||||
Impairment charges | 3,357 | 15,821 | — | 6,149 | ||||||||||||
Funds From Operations (FFO) | $ | 50,381 | $ | 48,718 | $ | 28,434 | $ | 24,807 | ||||||||
Weighted Average Listed Shares Outstanding | ||||||||||||||||
Basic | 37,802,340 | 37,631,539 | 37,670,305 | 37,670,305 | ||||||||||||
Diluted | 38,794,914 | 39,185,907 | 39,346,537 | 39,017,636 | ||||||||||||
FFO per Share | ||||||||||||||||
Basic | $ | 1.33 | $ | 1.29 | $ | 0.75 | $ | 0.66 | ||||||||
Diluted | $ | 1.30 | $ | 1.24 | $ | 0.72 | $ | 0.64 | ||||||||
Pay Out Ratio (Dividend/FFO) | 69.8 | % | 71.9 | % | 62.9 | % | 70.1 | % | ||||||||
Funds From Operations (FFO) | 50,381 | 48,718 | 28,434 | 24,807 | ||||||||||||
Recurring and non-revenue enhancing capital expenditure | — | (460 | ) | — | (664 | ) | ||||||||||
Funds Available For Distribution (FAD) | $ | 50,381 | $ | 48,258 | $ | 28,434 | $ | 24,143 | ||||||||
FAD Per Share | ||||||||||||||||
Basic | $ | 1.33 | $ | 1.28 | $ | 0.75 | $ | 0.64 | ||||||||
Diluted | $ | 1.30 | $ | 1.23 | $ | 0.72 | $ | 0.62 | ||||||||
Pay Out Ratio (Dividend/FAD) | 69.8 | % | 72.3 | % | 62.8 | % | 72.1 | % |
Ticker: WPC | 9 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Debt Structure Analysis
(in thousands)
(in thousands)
Debt Structure
March 31, 2006 | ||||||||
Limited Recourse Mortgage Debt(1) | $ | 290,526 | 98 | % | ||||
Credit Facility | 6,000 | 2 | % | |||||
Total Debt | $ | 296,526 | 100 | % | ||||
Debt Structure - March 31, 2006
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June 30, 2006 | ||||||||
Limited Recourse Mortgage Debt(1) | $ | 290,243 | 99 | % | ||||
Credit Facility | 2,000 | 1 | % | |||||
Total Debt | $ | 292,243 | 100 | % | ||||
Debt Structure - June 30, 2006
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(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 15 for details. |
Ticker: WPC | 10 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Total Capitalization Analysis
June 30, 2006
(in thousands)
June 30, 2006
(in thousands)
Total Market Capitalization Analysis | ||||||||
Equity Market Capitalization of Listed Shares(1) | $ | 960,492 | 77 | % | ||||
Limited Recourse Mortgage Debt(2) | 290,243 | 23 | % | |||||
Credit Facility | 2,000 | 0 | % | |||||
Total Debt | 292,243 | 23 | % | |||||
Total Market Capitalization(3) | $ | 1,252,734 | 100 | % | ||||
Total Market Capitalization
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Total Book Value Capitalization Analysis | ||||||||
Members’ Equity | $ | 602,295 | 67 | % | ||||
Limited Recourse Mortgage Debt(2) | 290,243 | 32 | % | |||||
Credit Facility | 2,000 | 0 | % | |||||
Total Debt | 292,243 | 33 | % | |||||
Total Book Value Capitalization(3) | $ | 894,538 | 100 | % | ||||
Total Book Value Capitalization
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(1) | Stock price of $25.24 is as of the second quarter earnings release date of August 8, 2006. Indicated shares outstanding of 38,054,358 is as of June 30, 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 15 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)
(in thousands)
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 | % | ||||
Revenue Diversification
Three Months Ended March 31, 2006
Three Months Ended March 31, 2006
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Three Months Ended | ||||||||
June 30, 2006 | ||||||||
Revenues from Real Estate Business(1) | $ | 21,852 | 37 | % | ||||
Revenues from Management Business(3) | 37,108 | 63 | % | |||||
Total Revenues | $ | 58,960 | 100 | % | ||||
Revenue Diversification
Three Months Ended June 30, 2006
Three Months Ended June 30, 2006
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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 CPAÒ REITs. | |
(3) | Revenues from Management Business increased primarily as a result of broker-dealer commissions from CPA®:16 Global Offering. Such revenues are offset by a corresponding expense and therefore have no impact on net income. |
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)
(in thousands except per share data)
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) | 9,403 | $ | 0.24 | |||||||||
Reimbursable costs (broker-dealer commissions) | 510 | $ | 0.01 | |||||||||
Other income | 604 | $ | 0.02 | |||||||||
Structuring Revenue & Other Income(3) | 10,517 | $ | 0.27 | 21 | % | |||||||
Total (3) | $ | 49,223 | $ | 1.27 | 100 | % | ||||||
Revenue Stability
Three Months Ended March 31, 2006
Three Months Ended March 31, 2006
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(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 CPAÒ REITs under management as well as reimbursements of expenses. | |
(3) | Numbers may not add up due to rounding. | |
(4) | Structuring revenue includes structuring fees and deferred structuring fees. |
Ticker: WPC | 13 | www.wpcarey.com |
W. P. CAREY & CO. LLC
Revenue Stability Analysis (Continued)(GAAP Modified)
(in thousands except per share data)
(in thousands except per share data)
Diluted | ||||||||||||
Three Months Ended | Per | |||||||||||
Revenue Type | June 30, 2006 | Share | % | |||||||||
Rents (1) | $ | 21,344 | $ | 0.54 | ||||||||
Management revenue(2) | 19,599 | $ | 0.50 | |||||||||
Rents and Management Revenue (3) | 40,943 | $ | 1.04 | 69 | % | |||||||
Structuring revenue(4) | 2,062 | $ | 0.05 | |||||||||
Reimbursable costs (broker-dealer commissions) | 15,447 | $ | 0.39 | |||||||||
Other income | 508 | $ | 0.01 | |||||||||
Structuring Revenue & Other Income (3) | 18,017 | $ | 0.46 | 31 | % | |||||||
Total (3) | $ | 58,960 | $ | 1.50 | 100 | % | ||||||
Revenue Stability
Three Months Ended June 30, 2006
Three Months Ended June 30, 2006
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(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 CPAÒ REITs under management as well as reimbursements of expenses. | |
(3) | Numbers may not add up due to rounding. | |
(4) | Structuring revenue includes structuring fees and deferred structuring fees. |
Ticker: WPC | 14 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Selected Financial Ratios Analysis
June 30, 2006
June 30, 2006
For the Quarter | For the Quarter | For the Twelve Months | ||||||||||
Ended | Ended | Ended | ||||||||||
June 30, 2006 | March 31, 2006 | December 31, 2005 | ||||||||||
Financial Strength | ||||||||||||
Leverage | ||||||||||||
Recourse debt/Book value of equity | 0.3 | % | 1.0 | % | 2.5 | % | ||||||
Total debt/Total market capitalization | 30.4 | % | 28.9 | % | 31.8 | % | ||||||
Total debt/EBITDA | 2.23 | 2.23 | 2.41 | |||||||||
FFO/Total debt* | 38.9 | % | 29.4 | % | 32.1 | % | ||||||
Coverage | ||||||||||||
EBITDA/Total interest expense | 6.25 | 6.43 | 6.00 | |||||||||
Fixed charge coverage ratio | 3.90 | 3.99 | 4.08 | |||||||||
FFO/Total interest expense* | 5.42 | 4.22 | 4.63 | |||||||||
Valuation Ratios | ||||||||||||
Price/Earnings* | 14.3 | 23.4 | 20.5 | |||||||||
Price/FFO* | 8.8 | 11.9 | 10.1 | |||||||||
Price/Revenues* | 4.2 | 5.3 | 5.5 | |||||||||
Price/Book Value of Equity | 1.6 | 1.7 | 1.6 | |||||||||
Per Share Data | ||||||||||||
Earnings* | $ | 1.76 | $ | 1.16 | $ | 1.25 | ||||||
FFO* | $ | 2.88 | $ | 2.28 | $ | 2.53 | ||||||
Revenues* | $ | 5.98 | $ | 5.10 | $ | 4.64 | ||||||
Book Value of Equity | $ | 15.83 | $ | 15.97 | $ | 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 August 8, 2006. | |
(7) | Revenues = revenue from continuing operations + revenue from discontinued operations + interest income. |
Ticker: WPC | 15 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Debt Summary
(pro rata basis)
June 30, 2006
(pro rata basis)
June 30, 2006
Number of | Fixed / | Original | Current | Interest | Maturity | |||||||||||||
Tenant/Lease Guarantor | Properties | Variable | Balance | Balance(11) | Rate | Date | ||||||||||||
Quebecor Printing USA (GA) | 1 | Fixed | $ | 7,000,000 | $ | 6,280,291 | 6.82 | % | Aug-07 | |||||||||
Amerisure Insurance (Michigan Mutual) | 1 | Fixed | 9,500,000 | 9,656,309 | 8.80 | % | Dec-07 | |||||||||||
Billipp Portfolio | 7 | Variable (1) | 5,000,000 | 5,000,005 | 5.92 | % | Dec-08 | |||||||||||
SICOR, Inc. | 2 | Fixed | 2,777,183 | 1,771,424 | 8.13 | % | Jan-09 | |||||||||||
Orbital Sciences Corporation | 1 | Fixed | 15,000,000 | 13,089,503 | 7.38 | % | Jun-09 | |||||||||||
America West Holdings Corporation | 1 | Fixed | 25,000,000 | 16,301,348 | 7.23 | % | Aug-09 | |||||||||||
Bell South Telecommunications | 1 | Fixed | 5,995,498 | 4,197,874 | 8.11 | % | Jan-10 | |||||||||||
Unisource Worldwide, Inc. | 1 | Fixed | 7,000,000 | 2,562,326 | 9.97 | % | Feb-10 | |||||||||||
Hibbett Sports | 1 | Fixed | 4,995,033 | 4,759,524 | 7.50 | % | Apr-10 | |||||||||||
Detroit Diesel Corporation | 1 | Fixed | 25,000,000 | 9,686,353 | 7.96 | % | Jun-10 | |||||||||||
Omnicom Group, Inc. | 1 | Fixed | 4,574,481 | 3,592,602 | 8.93 | % | Sep-10 | |||||||||||
EnviroWorks, Inc. | 1 | Fixed | 3,563,292 | 2,899,041 | 10.13 | % | Oct-10 | |||||||||||
Federal Express Corporation | 1 | Fixed | 18,000,000 | 16,932,848 | 7.50 | % | Jan-11 | |||||||||||
Autozone — Series A | 12 | Fixed | 4,099,504 | 2,034,935 | 6.85 | % | Jan-11 | |||||||||||
Childtime Childcare, Inc. | 12 | Fixed | 2,522,816 | 2,373,908 | 7.50 | % | Jan-11 | |||||||||||
Information Resources, Inc. | 2 | Fixed | 8,665,800 | 7,945,344 | 7.60 | % | Jan-11 | |||||||||||
Cendant Operations, Inc. | 1 | Fixed | 6,000,000 | 5,673,595 | 7.34 | % | Jan-11 | |||||||||||
Autozone, Inc. — Series B | 19 | Fixed | 6,289,699 | 3,155,159 | 6.85 | % | Feb-11 | |||||||||||
Sprint Spectrum, LP | 1 | Fixed | 8,753,000 | 8,366,611 | 7.64 | % | Aug-11 | |||||||||||
Qwest Communications, Inc. | 1 | Fixed | 1,594,023 | 1,530,648 | 7.50 | % | Jun-12 | |||||||||||
Autozone — Series C | 6 | Fixed | 2,033,191 | 1,187,598 | 6.85 | % | Aug-12 | |||||||||||
BE Aerospace, Inc. | 3 | Fixed | 9,200,000 | 8,800,832 | 6.11 | % | Nov-12 | |||||||||||
Faurecia (AP Parts) | 1 | Fixed | 2,675,000 | 2,644,672 | 5.16 | % | Nov-12 | |||||||||||
Anthony, Inc. Industry | 4 | Fixed | 9,285,000 | 9,178,906 | 5.11 | % | Nov-12 | |||||||||||
Alstom & Werner | 3 | Fixed | 10,750,000 | 10,646,539 | 5.18 | % | Dec-12 | |||||||||||
SAS Pantin Invest France(2) | 1 | Fixed | 12,683,000 | 8,330,332 | 4.92 | % | Jul-13 | |||||||||||
Autozone — Series D | 11 | Fixed | 4,667,621 | 2,940,847 | 6.85 | % | Aug-13 | |||||||||||
Aviva France (fka Tellit Assurances — SA)(2) | 1 | Fixed (7) | 3,300,750 | 2,471,858 | 4.49 | % | Aug-13 | |||||||||||
Direction Regional des Affaires Sanitaires et Sociales (aka SCI Le Mail)(2) | 1 | Fixed | 1,341,000 | 914,838 | 4.60 | % | Aug-13 | |||||||||||
SARL S3T (aka SAS Immo Invest)(2) | 1 | Variable(8) | 1,429,728 | 1,327,371 | 4.56 | % | May-14 | |||||||||||
DSM Food Specialties (aka SAS Immo Invest)(2) | 1 | Variable(8) | 1,728,672 | 1,097,825 | 4.56 | % | May-14 | |||||||||||
Carrefour France, SAS(2) | 8 | Fixed | 26,078,798 | 25,947,109 | 5.55 | % | Dec-14 | |||||||||||
Lowe’s Home Improvement Warehouse (fka Eagle Hardware) | 1 | Fixed | 9,725,000 | 9,725,000 | 4.87 | % | Sep-15 | |||||||||||
Bouygues Telecom, S.A. (Tours)(2) | 1 | Variable(9) | 9,877,469 | 8,114,294 | 3.86 | % | Oct-15 | |||||||||||
Dr. Pepper | 2 | Fixed | 33,950,000 | 33,563,283 | 5.13 | % | Nov-15 | |||||||||||
CheckFree Holdings, Inc. | 1 | Fixed | 15,000,000 | 15,000,000 | 6.18 | % | Jun-16 | |||||||||||
Bouygues Telecom, S.A. (Illkirch-Graffenstaden)(2) | 1 | Fixed (10) | 16,874,000 | 14,421,083 | 5.45 | % | Oct-16 | |||||||||||
Hologic, Inc. | 2 | Fixed | 6,660,000 | 6,121,140 | 6.40 | % | May-23 | |||||||||||
Total Limited Recourse Debt (6) | 117 | $ | 348,589,559 | $ | 290,243,178 | 6.37% | (3) | |||||||||||
Credit Facility(4) | $ | 2,000,000 | 8.25 | % | May-07 | |||||||||||||
Total Debt | $ | 292,243,178 | 6.38% | (5) | ||||||||||||||
(1) | Fixed LIBO rate plus 1.25% | |
(2) | Debt balance calculated using an exchange rate of 1.2551 USD/EUR at June 30, 2006. | |
(3) | Reflects weighted average interest rate for the mortgage debt only. | |
(4) | Indicated interest rate is based on Libor + 110 bps and represents the weighted average on outstanding tranches at June 30, 2006. Floating rate subject to change depending on leverage ratios and debt ratings (if applicable). | |
(5) | Reflects weighted average interest rate for the entire portfolio including the line of credit debt. | |
(6) | Numbers may not add up due to rounding. | |
(7) | Loan resets itself to a 5 year French Franc swap rate index plus 85 bps every five years. Current term is fixed until 2008. | |
(8) | Euribor 3-month from 2 “Target days” (when target payment system is open) before each interest period, increased by 130 bps. | |
(9) | Euribor 3-month base index on last working day preceding quarterly payment plus 85 bps. | |
(10) | Loan resets itself to PFX 5 year index plus 85 bps every five years. Current rate is fixed until October 2006. | |
(11) | Loan balances may be higher than the original balance due to fair value adjustments. |
Ticker: WPC | 16 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Mortgage Debt Maturity Profile
(pro rata basis)
June 30, 2006
(pro rata basis)
June 30, 2006
Year | Balloon Payments(1) | |||
2006 | $ | — | ||
2007 | 15,540,508 | |||
2008 | — | |||
2009 | 26,754,760 | |||
2010 | 6,741,951 | |||
2011 | 37,912,078 | |||
2012 | 9,023,825 | |||
2013 | 4,718,293 | |||
2014 | 17,546,788 | |||
2015 | 10,117,086 | |||
2016 | 18,376,858 | |||
2017 | — | |||
2018 | — | |||
2019 | — | |||
2020 | — | |||
2021 | — | |||
2022 | — | |||
2023 | 231,984 | |||
Total | $ | 146,964,131 | ||
![()](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439711.gif)
(1) | Balloon payments calculated using an exchange rate of 1.2551 USD/EUR at June 30, 2006 (where applicable). |
Ticker: WPC | 17 | www.wpcarey.com |
ACQUISITIONS & DISPOSITIONS
SECTION: ACQUISITIONS/DISPOSITIONS
W. P. CAREY & CO. LLC
2006 Acquisitions Update
Purchase | Gross | |||||||||||||||
Price | Closing | Square | ||||||||||||||
Portfolio(s) | Tenant/Lease Guarantor | Property Location | (000s) | Date | Property Type | Footage | ||||||||||
Management Business | ||||||||||||||||
CPA®:16 — Global | Corinthian Laramie (1) | Laramie, WY | $ | 26,020 | January-06 | Residential | 200,400 | |||||||||
CPA®:16 — Global | Utex Industries, Inc. | Houston, TX | 14,730 | March-06 | Industrial | 335,228 | ||||||||||
CPA®:15 | OTC Expansion (2) | La Vista, NE | 14,660 | March-06 | Warehouse/Manufacturing | 137,000 | ||||||||||
CPA®:15, 16 — Global | OBI Group | 16 locations throughout Poland | 183,300 | March-06 | Retail | 1,600,000 | ||||||||||
CPA®:16 — Global | Datastream Systems, Inc | Greenville, SC | 16,308 | March-06 | Office | 124,836 | ||||||||||
CPA®:16 — Global | Kings Super Markets, Inc. | 6 locations in New Jersey | 48,398 | April-06 | Retail | 125,129 | ||||||||||
CPA®:16 — Global | Hilite International | Marktheidenfeld, Germany | 24,343 | May-06 | Manufacturing | 194,218 | ||||||||||
CPA®:16 — Global | Integrated Distribution Systems Expansion(2) | Lamlukka & Bangpa, Thailand | N/A | June-06 | Manufacturing | N/A | ||||||||||
CPA®:16 — Global | The Cheese Works Limited | Ringwood, NJ and Alameda, CA | 10,521 | June-06 | Warehouse/Distribution | 74,856 | ||||||||||
CPA®:16 — Global | Good Time Stores (Alon USA) | El Paso, TX | 23,677 | July-06 | Warehouse | 62,274 | ||||||||||
CPA®:16 — Global | International Imaging Materials (IIMAK) | Amherst, NY | 15,782 | August-06 | Manufacturing | 271,123 | ||||||||||
Total(3) | $ | 377,738 | 3,125,064 | |||||||||||||
(1) | Represents a build-to-suit transaction. Gross Square Footage and Costs are estimates. | |
(2) | Represents a facility expansion. | |
(3) | Numbers may not add up due to rounding. |
Ticker: WPC | 19 | www.wpcarey.com |
SECTION: ACQUISITIONS/DISPOSITIONS
W. P. CAREY & CO. LLC
2006 Dispositions Update
Tenant/Lease | Property | Disposition | Sale Price | |||||||
Portfolio(s) | Guarantor | Location(s) | Date | (000s) | ||||||
Real Estate Business | ||||||||||
WPC LLC | Quebecor | Olive Branch, MS | Apr-06 | $ | 7,646 | |||||
WPC LLC | Winn Dixie | Bay Minette, AL | May-06 | 520 | ||||||
Subtotal | $ | 8,166 | ||||||||
Management Business | ||||||||||
CPA®:12 | Rheometric | Piscataway, NJ | Feb-06 | $ | 3,850 | |||||
CPA®:15 | Trends | Miami, FL | Mar-06 | 17,980 | ||||||
CPA®:14 | Celestica (Mayo Clinic) | Rochester, MN | May-06 | 36,875 | ||||||
CPA®:12 | Remec — Spectrian (Java Drive) | Sunnyvale, CA | May-06 | 10,400 | ||||||
CPA®:15 | Clear Channel | New York, NY | Jun-06 | 208,000 | ||||||
CPA®:15 | UK Logic | Rotherham, UK | Jun-06 | 5,197 | ||||||
Subtotal | $ | 282,302 | ||||||||
Total | $ | 290,469 | ||||||||
Ticker: WPC | 20 | www.wpcarey.com |
PORTFOLIO ANALYSIS
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Rent Contribution
June 30, 2006
June 30, 2006
Based on Ongoing Rental Income
Percentage of Total | Percentage of | |||||||||||
Top Ten Tenants/Lease Guarantors | Annualized Rent | Annualized Rent | Revenue(1) | |||||||||
Detroit Diesel Corporation | $ | 4,634,253 | 5.4 | % | 2.0 | % | ||||||
Dr Pepper/Seven Up Bottling Group | 4,598,837 | 5.4 | % | 1.9 | % | |||||||
Bouygues Telecom, S.A. | 3,789,464 | 4.4 | % | 1.6 | % | |||||||
Carrefour France, S.A. | 3,661,452 | 4.3 | % | 1.6 | % | |||||||
Orbital Sciences Corporation | 3,022,947 | 3.5 | % | 1.3 | % | |||||||
Federal Express Corporation | 2,986,085 | 3.5 | % | 1.3 | % | |||||||
The Titan Corporation | 2,862,068 | 3.3 | % | 1.2 | % | |||||||
America West Holdings Corporation | 2,837,889 | 3.3 | % | 1.2 | % | |||||||
CheckFree Holdings, Inc. | 2,301,768 | 2.7 | % | 1.0 | % | |||||||
AutoZone, Inc. | 2,216,594 | 2.6 | % | 0.9 | % |
Number of Tenants/Lease | ||||
Percentage of Total Annualized Rent | Guarantors | |||
10.0% < rent | 0 | |||
10.0% >,³ 7.5% | 0 | |||
7.5% >,³5.0% | 2 | |||
5.0% >,³2.5% | 8 | |||
2.5% > rent | 99 |
Number of Tenants/Lease | ||||
Percentage of Revenue(1) | Guarantors | |||
10.0% < rent | 0 | |||
10.0% >,³ 7.5% | 0 | |||
7.5% >,³5.0% | 0 | |||
5.0% >,³2.5% | 0 | |||
2.5% > rent | 109 |
Ticker: WPC | 22 | www.wpcarey.com |
SECTION: PORTFOLIO ANALYSIS
W.P. CAREY & CO. LLC
Portfolio Diversification Analysis by Property Type
June 30, 2006
June 30, 2006
Property Type | Square Footage(2) | Percent | ||||||
Industrial | 8,328,850 | 51.8 | % | |||||
Warehouse/Distribution | 4,313,893 | 26.8 | % | |||||
Office | 2,194,390 | 13.7 | % | |||||
Retail | 1,011,777 | 6.3 | % | |||||
Hospitality | 158,000 | 1.0 | % | |||||
Other(3) | 64,825 | 0.4 | % | |||||
Total(4) | 16,071,735 | 100.0 | % | |||||
![(graph)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439712.gif)
Property Type | Annualized Rent (1) | Percent | ||||||
Industrial | $ | 31,548,345 | 36.9 | % | ||||
Office | 30,935,421 | 36.2 | % | |||||
Warehouse/Distribution | 14,389,980 | 16.8 | % | |||||
Retail | 6,042,503 | 7.1 | % | |||||
Other (3) | 1,450,242 | 1.7 | % | |||||
Hospitality | 1,200,000 | 1.4 | % | |||||
Total (4) | $ | 85,566,491 | 100.0 | % | ||||
![(graph)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439713.gif)
(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 & research. | |
(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 Tenant Industry
June 30, 2006
June 30, 2006
Percentage of | ||||||||
Industry Type (1) | Annualized Rent | Rent (2) | ||||||
Manufacturing | $ | 33,664,442 | 39.3 | % | ||||
Information | 12,276,400 | 14.3 | % | |||||
Wholesale Trade | 10,829,565 | 12.7 | % | |||||
Retail Trade | 8,663,537 | 10.1 | % | |||||
Transportation and Warehousing | 7,306,375 | 8.5 | % | |||||
Professional, Scientific and Technical Services | 5,933,844 | 6.9 | % | |||||
Finance and Insurance | 2,660,367 | 3.1 | % | |||||
Accomodation and Food Services | 1,209,000 | 1.4 | % | |||||
Public Administration | 924,713 | 1.1 | % | |||||
Construction | 823,077 | 1.0 | % | |||||
Health Care and Social Assistance | 664,508 | 0.8 | % | |||||
Other(3) | 416,647 | 0.5 | % | |||||
Educational Services | 194,016 | 0.2 | % | |||||
Total(4) | $ | 85,566,491 | 100.0 | % | ||||
![(graph)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439714.gif)
(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, Real Estate and Rental and Leasing and Other Services. | |
(4) | Numbers may not add up due to rounding. |
Ticker: WPC | 24 | www.wpcarey.com |
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Geography
June 30, 2006
Portfolio Diversification Analysis by Geography
June 30, 2006
Region | Square Footage(2) | Percentage | ||||||
Midwest | 4,692,738 | 29.2 | % | |||||
South | 4,556,237 | 28.3 | % | |||||
East | 3,470,251 | 21.6 | % | |||||
West | 2,323,862 | 14.5 | % | |||||
Europe | 1,028,647 | 6.4 | % | |||||
Total | 16,071,735 | 100.0 | % | |||||
![(SF PIE CHART)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439718.gif)
Region | Annualized Rent(1) | Percentage | ||||||
South | $ | 26,134,752 | 30.5 | % | ||||
West | 19,837,219 | 23.2 | % | |||||
Midwest | 16,291,525 | 19.0 | % | |||||
East | 13,225,265 | 15.5 | % | |||||
Europe | 10,077,730 | 11.8 | % | |||||
Total(3) | $ | 85,566,491 | 100.0 | % | ||||
![(SR PIE CHART)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439717.gif)
(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 | 25 | www.wpcarey.com |
SECTION: PORTFOLIO ANALYSIS
W.P. CAREY & CO. LLC
Portfolio Lease Maturity Analysis
June 30, 2006
June 30, 2006
Year of | Number of | Annualized | Percentage of Total | Average Years to | ||||||||||||
Lease Expiration | Leases | Rents (1) | Annualized Rents | Maturity | ||||||||||||
2006(2) | 25 | 2,640,630 | 3.1 | % | 0.50 | |||||||||||
2007 | 18 | 7,518,120 | 8.8 | % | 1.50 | |||||||||||
2008 | 13 | 6,846,194 | 8.0 | % | 2.50 | |||||||||||
2009 | 14 | 11,992,058 | 14.0 | % | 3.50 | |||||||||||
2010 | 18 | 10,414,921 | 12.2 | % | 4.50 | |||||||||||
2011 | 9 | 10,315,430 | 12.1 | % | 5.50 | |||||||||||
2012 | 5 | 5,460,012 | 6.4 | % | 6.50 | |||||||||||
2013 | 5 | 3,221,558 | 3.8 | % | 7.50 | |||||||||||
2014 | 4 | 9,096,285 | 10.6 | % | 8.50 | |||||||||||
2015 | 3 | 3,345,215 | 3.9 | % | 9.50 | |||||||||||
2016 | 2 | 1,301,511 | 1.5 | % | 10.50 | |||||||||||
2017 | 1 | 1,485,809 | 1.7 | % | 11.50 | |||||||||||
2018 | 2 | 3,105,709 | 3.6 | % | 12.50 | |||||||||||
2019 | 1 | 2,716,648 | 3.2 | % | 13.50 | |||||||||||
2020 | 1 | 4,634,253 | 5.4 | % | 14.50 | |||||||||||
2021 | — | — | 0.0 | % | 15.50 | |||||||||||
2022 | 2 | 1,472,138 | 1.7 | % | 16.50 | |||||||||||
Total (3) | 123 | $ | 85,566,491 | 100 | % | |||||||||||
Weighted Average Years to Maturity: | 6.33 | |||||||||||||||
![(graph)](https://capedge.com/proxy/8-K/0000950123-06-010638/y24397y2439716.gif)
(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 | 26 | www.wpcarey.com |
EXHIBITS (1)
(1) Sources for Exhibits A, B, C and D include a) June 30, 2006 Form 10-Q b) March 31, 2006
Form 10-Q c) December 31, 2005 Form 10-K d) Company Press Releases
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)
(in thousands except share amounts)
The Company | The Company | The Company | ||||||||||
Consolidated as of | Consolidated as of | Consolidated as of | ||||||||||
June 30, 2006 | March 31, 2006 | December 31, 2005 | ||||||||||
ASSETS: | ||||||||||||
Real estate, net | $ | 489,591 | $ | 492,859 | $ | 454,478 | ||||||
Net investment in direct financing leases | 117,250 | 118,995 | 131,975 | |||||||||
Equity Investments | 140,286 | 133,822 | 134,567 | |||||||||
Operating real estate, net | 7,657 | 7,761 | 7,865 | |||||||||
Assets held for sale | 16,064 | 24,870 | 18,815 | |||||||||
Cash and cash equivalents | 15,593 | 14,833 | 13,014 | |||||||||
Due from affiliates | 78,939 | 76,417 | 82,933 | |||||||||
Goodwill | 63,607 | 63,607 | 63,607 | |||||||||
Intangible assets, net | 35,821 | 38,250 | 40,700 | |||||||||
Other assets, net | 33,114 | 28,661 | 35,308 | |||||||||
Total assets | $ | 997,922 | $ | 1,000,075 | $ | 983,262 | ||||||
LIABILITIES AND MEMBERS’ EQUITY: | ||||||||||||
Liabilities: | ||||||||||||
Mortgage notes payable | $ | 253,897 | $ | 245,523 | $ | 226,701 | ||||||
Mortgage notes payable on assets held for sale | — | 4,373 | 4,412 | |||||||||
Credit facility | 2,000 | 6,000 | 15,000 | |||||||||
Accrued interest | 1,696 | 1,647 | 2,036 | |||||||||
Distributions payable | 17,234 | 17,073 | 16,963 | |||||||||
Due to affiliates | 1,069 | 1,035 | 2,994 | |||||||||
Deferred revenue | 29,787 | 26,544 | 23,085 | |||||||||
Accounts payable and accrued expense | 25,679 | 18,690 | 23,002 | |||||||||
Prepaid and deferred rental income and security deposits | 4,905 | 6,553 | 4,414 | |||||||||
Accrued income taxes | 483 | 6,305 | 634 | |||||||||
Deferred income taxes, net | 38,787 | 37,860 | 39,908 | |||||||||
Other liabilities | 12,647 | 13,147 | 12,956 | |||||||||
Total Liabilities | 388,184 | 384,750 | 372,105 | |||||||||
Minority interest in consolidated entities | 7,443 | 12,049 | 3,689 | |||||||||
Commitments and contingencies | ||||||||||||
Members’ Equity: | ||||||||||||
Listed shares, no par value; 38,054,358; 37,778,129; and 37,706,247 shares issued and outstanding, respectively | 740,247 | 736,803 | 740,593 | |||||||||
Distributions in excess of accumulated earnings | (137,436 | ) | (137,188 | ) | (131,178 | ) | ||||||
Unearned compensation | — | — | (5,119 | ) | ||||||||
Accumulated other comprehensive income | (516 | ) | 3,661 | 3,172 | ||||||||
Total members’ equity | 602,295 | 603,276 | 607,468 | |||||||||
Total liabilities and members’ equity | $ | 997,922 | $ | 1,000,075 | $ | 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)
Consolidated Statements of Income
(in thousands, except share and per share amounts)
For the Six | For the Quarter | For the Quarter | For the Year | |||||||||||||
Months Ended | Ended | Ended | Ended | |||||||||||||
June 30, 2006 | June 30, 2006 | March 31, 2006 | December 31, 2005 | |||||||||||||
REVENUES: | ||||||||||||||||
Asset management income | $ | 29,114 | $ | 14,752 | $ | 17,360 | $ | 62,294 | ||||||||
Structuring revenue | 12,354 | 2,462 | 9,892 | 28,197 | ||||||||||||
Reimbursed costs from affiliates | 22,892 | 19,894 | — | — | ||||||||||||
Rental Income | 29,797 | 14,975 | 14,822 | 52,386 | ||||||||||||
Interest income from direct financing leases | 6,848 | 3,427 | 3,421 | 17,149 | ||||||||||||
Other operating income | 952 | 432 | 528 | 6,592 | ||||||||||||
Revenues of other business operations | 3,580 | 1,717 | 1,863 | 7,499 | ||||||||||||
105,537 | 57,659 | 47,886 | 174,117 | |||||||||||||
OPERATING EXPENSES: | ||||||||||||||||
General and administrative | (21,029 | ) | (9,871 | ) | (14,156 | ) | (55,184 | ) | ||||||||
Reimbursable costs | (22,892 | ) | (19,894 | ) | — | — | ||||||||||
Depreciation | (7,277 | ) | (3,658 | ) | (3,645 | ) | (11,939 | ) | ||||||||
Amortization | (4,562 | ) | (2,278 | ) | (2,284 | ) | (8,813 | ) | ||||||||
Property expenses | (3,203 | ) | (1,442 | ) | (1,837 | ) | (7,396 | ) | ||||||||
Impairment charges | — | — | — | (15,154 | ) | |||||||||||
Operating expenses of other business operations | (3,033 | ) | (1,466 | ) | (1,567 | ) | (6,327 | ) | ||||||||
(61,996 | ) | (38,609 | ) | (23,489 | ) | (104,813 | ) | |||||||||
OTHER INCOME AND EXPENSES: | ||||||||||||||||
Other interest income | 1,533 | 806 | 727 | 3,511 | ||||||||||||
Income from equity investments | 2,794 | 1,244 | 1,550 | 5,182 | ||||||||||||
Minority interest in (income) loss | (608 | ) | 254 | (862 | ) | (264 | ) | |||||||||
Gain on foreign currency transactions and other gains, net | 5,478 | 5,228 | 250 | 1,305 | ||||||||||||
Interest expense | (8,929 | ) | (4,541 | ) | (4,388 | ) | (16,787 | ) | ||||||||
268 | 2,991 | (2,723 | ) | (7,053 | ) | |||||||||||
Income from continuing operations before income taxes | 43,809 | 22,041 | 21,674 | 62,251 | ||||||||||||
Provision for income taxes | (10,720 | ) | (3,998 | ) | (6,722 | ) | (19,390 | ) | ||||||||
Income from continuing operations | 33,089 | 18,043 | 14,952 | 42,861 | ||||||||||||
DISCONTINUED OPERATIONS: | ||||||||||||||||
(Loss) income from operations of discontinued properties | (1,363 | ) | (739 | ) | (530 | ) | 1,885 | |||||||||
Gain on sale of real estate | — | — | — | 10,474 | ||||||||||||
Impairment charges on assets held for sale | (3,357 | ) | — | (3,357 | ) | (6,616 | ) | |||||||||
Loss from discontinued operations | (4,720 | ) | (739 | ) | (3,887 | ) | 5,743 | |||||||||
NET INCOME | $ | 28,369 | $ | 17,304 | $ | 11,065 | $ | 48,604 | ||||||||
BASIC EARNINGS PER SHARE: | ||||||||||||||||
Income from continuing operations | $ | 0.88 | $ | 0.48 | $ | 0.40 | $ | 1.14 | ||||||||
(Loss) income from discontinued operations | (0.13 | ) | (0.02 | ) | (0.10 | ) | 0.15 | |||||||||
Net Income | $ | 0.75 | $ | 0.46 | $ | 0.30 | $ | 1.29 | ||||||||
DILUTED EARNINGS PER SHARE: | ||||||||||||||||
Income from continuing operations | $ | 0.85 | $ | 0.46 | $ | 0.39 | $ | 1.10 | ||||||||
(Loss) income from discontinued operations | (0.12 | ) | (0.02 | ) | (0.10 | ) | 0.15 | |||||||||
Net Income | $ | 0.73 | $ | 0.44 | $ | 0.29 | $ | 1.25 | ||||||||
DIVIDENDS DECLARED PER SHARE: | $ | 0.906 | $ | 0.454 | $ | 0.452 | $ | 1.79 | ||||||||
WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||||||||||||||
Basic | 37,802,340 | 37,876,079 | 37,727,782 | 37,688,835 | ||||||||||||
Diluted | 38,794,914 | 39,346,537 | 38,627,267 | 39,020,801 | ||||||||||||
Ticker: WPC | www.wpcarey.com |
EXHIBIT C
W. P. CAREY & CO. LLC
Consolidated Statements of Cash Flows
(in thousands)
Consolidated Statements of Cash Flows
(in thousands)
For the Six | For the Quarter | For the Year | ||||||||||
Months Ended | Ended | Ended | ||||||||||
June 30, 2006 | March 31, 2006 | December 31, 2005 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net income | $ | 28,369 | $ | 11,065 | $ | 48,604 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization of intangible assets and deferred financing costs | 12,625 | 6,136 | 21,623 | |||||||||
Income from equity investments in excess of distributions received | (202 | ) | (247 | ) | 479 | |||||||
Gain on sale of real estate and investments | (4,800 | ) | — | (10,570 | ) | |||||||
Minority interest in income | 608 | 862 | 264 | |||||||||
Recognition of deferred gain on completion of development project | — | — | (2,000 | ) | ||||||||
Straight-line rent adjustments | 1,612 | 732 | 3,776 | |||||||||
Management income received in shares of affiliates | (15,816 | ) | (7,892 | ) | (31,858 | ) | ||||||
Costs paid by issuance of shares | — | — | 201 | |||||||||
Unrealized (gain) loss on foreign currency transactions and warrants | (577 | ) | (165 | ) | 779 | |||||||
Impairment charges | 3,348 | 3,357 | 21,770 | |||||||||
Deferred income taxes | (1,121 | ) | (2,048 | ) | 1,549 | |||||||
Realized (gain) loss on foreign currency transaction | (102 | ) | (85 | ) | 19 | |||||||
(Decrease) increase in accrued income taxes | (151 | ) | 5,671 | (3,274 | ) | |||||||
Decrease in prepaid taxes | 1,279 | 706 | — | |||||||||
Tax charge — share incentive plans | — | — | 604 | |||||||||
Excess tax benefits associated with stock based compensation awards | 1,639 | 719 | — | |||||||||
Increase in structuring revenue receivable | (3,039 | ) | (3,039 | ) | (5,304 | ) | ||||||
Deferred acquisition fees received | 12,543 | 12,543 | 8,961 | |||||||||
Amortization of unearned compensation | — | — | 3,936 | |||||||||
Net changes in other operating assets and liabilities | (650 | ) | (2,968 | ) | (6,852 | ) | ||||||
Net cash provided by operating activities | 35,565 | 25,347 | 52,707 | |||||||||
Cash flows from investing activities: | ||||||||||||
Distributions received from equity investments in excess of equity income | 3,106 | 1,400 | 6,164 | |||||||||
Capital expenditures | (3,874 | ) | (674 | ) | (2,975 | ) | ||||||
Payment of deferred acquisition revenue to an affiliate | (524 | ) | (524 | ) | (524 | ) | ||||||
Purchase of investment | (150 | ) | — | (465 | ) | |||||||
Loan to affiliate | (84,000 | ) | — | — | ||||||||
Proceeds from repayment of loan to affiliate | 84,000 | — | — | |||||||||
Proceeds from sales of property and investments | 22,471 | — | 45,542 | |||||||||
Funds placed in escrow in connection with the sale of property and investments | (9,163 | ) | — | — | ||||||||
Net cash provided by investing activities | 11,866 | 202 | 47,742 | |||||||||
Cash flows from financing activities: | ||||||||||||
Distributions paid | (34,356 | ) | (16,965 | ) | (67,004 | ) | ||||||
Contributions from minority interests | 1,161 | 506 | 1,539 | |||||||||
Distributions to minority interests | (5,075 | ) | (136 | ) | (355 | ) | ||||||
Scheduled payments of mortgage principal | (5,705 | ) | (2,916 | ) | (9,229 | ) | ||||||
Proceeds from mortgages and credit facility | 55,000 | 10,000 | 121,764 | |||||||||
Prepayments of mortgages principal and credit facility | (62,971 | ) | (19,000 | ) | (151,893 | ) | ||||||
Release of funds from escrow in connection with the financing of properties | 4,031 | 4,031 | — | |||||||||
Payment of financing costs | (472 | ) | (217 | ) | (797 | ) | ||||||
Proceeds from issuance of shares | 3,652 | 1,323 | 4,400 | |||||||||
Excess tax benefits associated with stock based compensation awards | 271 | 77 | — | |||||||||
Retirement of shares | (482 | ) | (482 | ) | (2,206 | ) | ||||||
Net cash used in financing activities: | (44,946 | ) | (23,779 | ) | (103,781 | ) | ||||||
Effect of exchange rate changes on cash | 94 | 49 | (369 | ) | ||||||||
Net increase (decrease) in cash and cash equivalents | 2,579 | 1,819 | (3,701 | ) | ||||||||
Cash and cash equivalents, beginning of period | 13,014 | 13,014 | 16,715 | |||||||||
Cash and cash equivalents, end of period | $ | 15,593 | $ | 14,833 | $ | 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)
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 | |||||||||||||
June 30, 2006 | March 31, 2006 | December 31, 2005 | September 30, 2005 | |||||||||||||
Net income | $ | 17,304 | $ | 11,065 | $ | 11,488 | $ | 14,328 | ||||||||
Gain on sale of real estate, net | — | — | (3,355 | ) | — | |||||||||||
FFO of equity investees in excess of equity income | 3,175 | 2,825 | 2,833 | 2,690 | ||||||||||||
Depreciation, amortization, deferred taxes and other non-cash charges | 7,270 | 4,125 | 6,396 | 7,957 | ||||||||||||
FFO applicable to minority investees in excess of minority income | (181 | ) | (237 | ) | (183 | ) | (193 | ) | ||||||||
Straight-line rents | 866 | 691 | 1,119 | 824 | ||||||||||||
Impairment charges | — | 3,357 | 5,949 | — | ||||||||||||
Funds From Operations (FFO) | $ | 28,434 | $ | 21,826 | $ | 24,247 | $ | 25,606 | ||||||||
Weighted Average Listed Shares Outstanding | ||||||||||||||||
Basic | 37,670,305 | 37,727,782 | 37,762,361 | 37,727,008 | ||||||||||||
Diluted | 39,346,537 | 38,627,267 | 38,674,396 | 38,948,980 | ||||||||||||
FFO per Share | ||||||||||||||||
Basic | $ | 0.75 | $ | 0.58 | $ | 0.64 | $ | 0.68 | ||||||||
Diluted | $ | 0.72 | $ | 0.57 | $ | 0.63 | $ | 0.66 |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
W. P. CAREY & CO. LLC
Detailed Property Summary
June 30, 2006
June 30, 2006
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
Detroit Diesel Corporation | Detroit, MI | Industrial | Manufacturing | Midwest | 2,730,750 | 4,634,253 | 5.42% | PPI | June-20 | June-30 | ||||||||||||||||
u | ||||||||||||||||||||||||||
Detroit Diesel Corporation Total | 2,730,750 | 4,634,253 | 5.42% | |||||||||||||||||||||||
Dr Pepper/Seven Up Bottling Group | Irving, TX | Industrial | Manufacturing | South | 459,497 | 2,789,653 | 3.26% | CPI | June-14 | June-14 | ||||||||||||||||
Dr Pepper/Seven Up Bottling Group | Houston, TX | Industrial | Manufacturing | South | 262,450 | 1,809,184 | 2.11% | CPI | June-14 | June-14 | ||||||||||||||||
Dr Pepper/Seven Up Bottling Group Total | 721,947 | 4,598,837 | 5.37% | |||||||||||||||||||||||
Bouygues Telecom, S.A.(1) | Tours, France | Office | Information | Europe | 102,237 | 1,405,464 | 1.64% | INSEE(2) | September-09 | September-12 | ||||||||||||||||
Bouygues Telecom, S.A.(3) | Illkirch-Graffenstaden, France | Office | Information | Europe | 80,729 | 2,384,000 | 2.79% | INSEE(2) | December-08 | July-13 | ||||||||||||||||
Bouygues Telecom, S.A. Total | 182,966 | 3,789,464 | 4.43% | |||||||||||||||||||||||
Carrefour France, SAS (4) | Lens, France | Warehouse/Distribution | Retail Trade | Europe | 62,349 | 382,867 | 0.45% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS (4) | Lens, France | Warehouse/Distribution | Retail Trade | Europe | 1,276 | 7,838 | 0.01% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Lens, France | Warehouse/Distribution | Retail Trade | �� | Europe | 2,136 | 13,117 | 0.02% | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS (4) | Nimes, France | Warehouse/Distribution | Retail Trade | Europe | 66,285 | 336,072 | 0.39% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS (4) | Nimes, France | Warehouse/Distribution | Retail Trade | Europe | 1,255 | 6,361 | 0.01% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Nimes, France | Warehouse/Distribution | Retail Trade | Europe | 293 | 1,485 | 0.00% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS (4) | Nimes, France | Warehouse/Distribution | Retail Trade | Europe | 87,334 | 504,143 | 0.59% | INSEE(2) | November-12 | November-12 | ||||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 85,602 | 485,758 | 0.57% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS (4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 29,617 | 168,067 | 0.20% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 3,696 | 20,972 | 0.02% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 1,424 | 8,081 | 0.01% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Thuit Hebert, France | Warehouse/Distribution | Retail Trade | Europe | 53,032 | 241,720 | 0.28% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Thuit Hebert, France | Warehouse/Distribution | Retail Trade | Europe | 33,638 | 153,320 | 0.18% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Crepy en Valois, France | Warehouse/Distribution | Retail Trade | Europe | 49,736 | 314,182 | 0.37% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Crepy en Valois, France | Warehouse/Distribution | Retail Trade | Europe | 74,846 | 472,801 | 0.55% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Ploufragen, France | Warehouse/Distribution | Retail Trade | Europe | 60,221 | 293,027 | 0.34% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS(4) | Cholet, France | Warehouse/Distribution | Retail Trade | Europe | 48,760 | 251,641 | 0.29% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Carrefour France, SAS (4) Total | 661,500 | 3,661,452 | 4.28% | |||||||||||||||||||||||
Orbital Sciences Corporation | Chandler, AZ | Industrial | Manufacturing | West | 335,307 | 3,022,947 | 3.53% | CPI | September-09 | September-29 | ||||||||||||||||
Orbital Sciences Corporation Total | 335,307 | 3,022,947 | 3.53% | |||||||||||||||||||||||
Federal Express Corporation(5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 679,162 | 0.79% | CPI | August-19 | August-39 | ||||||||||||||||
Federal Express Corporation(5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 679,162 | 0.79% | CPI | August-19 | August-39 | ||||||||||||||||
Federal Express Corporation(5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 679,162 | 0.79% | CPI | August-19 | August-39 | ||||||||||||||||
Federal Express Corporation(5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 679,162 | 0.79% | CPI | August-19 | August-39 | ||||||||||||||||
Federal Express Corporation(5) | College Station, TX | Warehouse/Distribution | Transportation and Warehousing | South | 12,080 | 68,400 | 0.08% | Stated | April-07 | January-09 | ||||||||||||||||
Federal Express Corporation(5) | Corpus Christi, TX | Warehouse/Distribution | Transportation and Warehousing | South | 30,212 | 201,037 | 0.23% | Stated | May-07 | May-12 | ||||||||||||||||
Federal Express Corporation (5) Total | 198,444 | 2,986,085 | 3.49% | |||||||||||||||||||||||
Titan Corporation, The | San Diego, CA | Office | Manufacturing | West | 166,403 | 2,862,068 | 3.34% | CPI | July-12 | July-17 | ||||||||||||||||
Titan Corporation, The Total | 166,403 | 2,862,068 | 3.34% | |||||||||||||||||||||||
America West Holdings Corporation(6) | Tempe, AZ | Office | Transportation and Warehousing | West | 167,913 | 2,837,889 | 3.32% | CPI | April-14 | November-29 | ||||||||||||||||
America West Holdings Corporation (6) Total | 167,913 | 2,837,889 | 3.32% | |||||||||||||||||||||||
CheckFree Holdings, Inc.(7) | Norcross, GA | Office | Information | South | 50,063 | 899,886 | 1.05% | CPI | December-15 | December-30 | ||||||||||||||||
CheckFree Holdings, Inc.(7) | Norcross, GA | Office | Information | South | 34,150 | 763,523 | 0.89% | 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 | 2.69% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum 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 | 0.03% | % 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 | 0.07% | % Sales | August-13 | August-38 | ||||||||||||||||
AutoZone, Inc. Total | 302,230 | 2,216,594 | 2.59% | |||||||||||||||||||||||
Quebecor Printing USA | Doraville, GA | Industrial | Manufacturing | South | 432,559 | 1,940,625 | 2.27% | CPI | December-09 | December-34 | ||||||||||||||||
Quebecor Printing USA Total | 432,559 | 1,940,625 | 2.27% | |||||||||||||||||||||||
Lucent Technologies, Inc. | Charlotte, NC | Industrial | Wholesale Trade | East | 568,670 | 1,918,333 | 2.24% | None | March-07 | March-20 | ||||||||||||||||
Lucent Technologies, Inc. Total | 568,670 | 1,918,333 | 2.24% | |||||||||||||||||||||||
Information Resources, Inc. (8) | Chicago, IL | Office | Professional, Scientific and Technical Services | Midwest | 30,797 | 683,141 | 0.80% | CPI | October-13 | October-23 | ||||||||||||||||
Information Resources, Inc. (8) | Chicago, IL | Office | Professional, Scientific and Technical Services | Midwest | 53,195 | 1,179,801 | 1.38% | CPI | October-13 | October-23 | ||||||||||||||||
Information Resources, Inc. (8) Total | 83,992 | 1,862,942 | 2.18% | |||||||||||||||||||||||
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 | 1.50% | CPI | December-18 | December-43 | ||||||||||||||||
Sybron Dental Specialties, Inc. (Apogent Technologies, Inc) Total | 245,000 | 1,770,298 | 2.07% | |||||||||||||||||||||||
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 | 1.66% | Stated | April-10 | April-30 | ||||||||||||||||
Unisource Worldwide, Inc. Total | 456,273 | 1,766,883 | 2.06% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
Brodart Company | Williamsport, PA | Industrial | Wholesale Trade | East | 309,030 | 1,015,205 | 1.19% | 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 | 2.01% | |||||||||||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 260,160 | 1,192,284 | 1.39% | CPI | March-10 | March-35 | ||||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 109,377 | 501,237 | 0.59% | CPI | March-10 | March-35 | ||||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 5,292 | 24,220 | 0.03% | CPI | March-10 | March-35 | ||||||||||||||||
Fiskars, Inc. (aka enviroWorks) Total | 374,829 | 1,717,741 | 2.01% | |||||||||||||||||||||||
SICOR, Inc. | San Diego, CA | Office | Manufacturing | West | 35,951 | 835,705 | 0.98% | CPI | July-09 | July-49 | ||||||||||||||||
SICOR, Inc. | San Diego, CA | Office | Manufacturing | West | 36,205 | 835,705 | 0.98% | CPI | July-09 | July-49 | ||||||||||||||||
SICOR, Inc. Total | 72,156 | 1,671,410 | 1.95% | |||||||||||||||||||||||
CSS Industries, Inc. (Cleo, Inc) | Memphis, TN | Warehouse/Distribution | Accomodation and Food Services | South | 1,006,170 | 1,570,000 | 1.83% | CPI | December-10 | December-15 | ||||||||||||||||
CSS Industries, Inc. (Cleo, Inc) Total | 1,006,170 | 1,570,000 | 1.83% | |||||||||||||||||||||||
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 | 0.24% | 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 | 1.74% | |||||||||||||||||||||||
Sprint Spectrum, L.P. | Rio Rancho, NM | Office | Information | West | 94,730 | 1,424,561 | 1.66% | None | May-11 | May-21 | ||||||||||||||||
Sprint Spectrum, L.P. Total | 94,730 | 1,424,561 | 1.66% | |||||||||||||||||||||||
Amerisure Mutual Insurance Co. | Charleston, SC | Office | Finance and Insurance | East | 67,160 | 729,195 | 0.85% | 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 | 0.48% | None | December-07 | December-28 | ||||||||||||||||
Amerisure Mutual Insurance Co. Total | 127,754 | 1,382,256 | 1.62% | |||||||||||||||||||||||
BellSouth Telecommunications | Lafayette, LA | Office | Information | South | 66,846 | 1,351,150 | 1.58% | Stated | December-09 | December-39 | ||||||||||||||||
BellSouth Telecommunications Total | 66,846 | 1,351,150 | 1.58% | |||||||||||||||||||||||
Lowe’s Home Improvement Warehouse | Bellevue, WA | Retail | Wholesale Trade | West | 143,352 | 1,335,411 | 1.56% | CPI & % Sales | August-18 | August-18 | ||||||||||||||||
Lowe’s Home Improvement Warehouse Total | 143,352 | 1,335,411 | 1.56% | |||||||||||||||||||||||
AT&T Corporation | Bridgeton, MO | Industrial | Information | Midwest | 85,510 | 1,257,410 | 1.47% | Stated | September-11 | September-21 | ||||||||||||||||
AT&T Corporation Total | 85,510 | 1,257,410 | 1.47% | |||||||||||||||||||||||
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 | 1.11% | CPI | December-10 | December-20 | ||||||||||||||||
Swat-Fame, Inc. (City of Industry, CA) Total | 325,800 | 1,242,444 | 1.45% | |||||||||||||||||||||||
United States Postal Service (Bloomington, IL) | Bloomingdale, IL | Office | Transportation and Warehousing | Midwest | 60,000 | 1,233,000 | 1.44% | Stated | April-11 | April-11 | ||||||||||||||||
United States Postal Service (Bloomington, IL) Total | 60,000 | 1,233,000 | 1.44% | |||||||||||||||||||||||
Livho Inc. | Livonia, MI | Hospitality | Accomodation and Food Services | Midwest | 158,000 | 1,200,000 | 1.40% | Stated | January-07 | January-08 | ||||||||||||||||
Livho Inc. Total | 158,000 | 1,200,000 | 1.40% | |||||||||||||||||||||||
Hologic, Inc.(9) | Danbury, CT | Industrial | Manufacturing | East | 22,335 | 210,526 | 0.25% | CPI | August-22 | August-42 | ||||||||||||||||
Hologic, Inc.(9) | Bedford, MA | Industrial | Manufacturing | East | 74,520 | 925,612 | 1.08% | CPI | August-22 | August-42 | ||||||||||||||||
Hologic, Inc. (9) Total | 96,855 | 1,136,138 | 1.33% | |||||||||||||||||||||||
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 | 0.67% | CPI/Market | May-12 | May-12 | ||||||||||||||||
Anthony’s Manufacturing Company, Inc. Total | 182,845 | 1,091,816 | 1.28% | |||||||||||||||||||||||
Omnicom Group, Inc. | Venice, CA | Office | Professional, Scientific and Technical Services | West | 77,719 | 1,082,685 | 1.27% | Stated | September-10 | September-30 | ||||||||||||||||
Omnicom Group, Inc. Total | 77,719 | 1,082,685 | 1.27% | |||||||||||||||||||||||
Lockheed Martin Corporation | King of Prussia, PA | Office | Professional, Scientific and Technical Services | East | 88,578 | 797,202 | 0.93% | Stated | July-08 | July-08 | ||||||||||||||||
Lockheed Martin Corporation | Houston, TX | Industrial | Professional, Scientific and Technical Services | South | 30,176 | 241,416 | 0.28% | Stated | December-07 | December-07 | ||||||||||||||||
Lockheed Martin Corporation Total | 118,754 | 1,038,618 | 1.21% | |||||||||||||||||||||||
Werner Co. | Erlanger, KY | Warehouse/Distribution | Manufacturing | East | 409,600 | 762,048 | 0.89% | 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 | 1.21% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
United Stationers Supply Company | New Orleans, LA | Warehouse/Distribution | Wholesale Trade | South | 59,000 | 366,539 | 0.43% | 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 | 1.21% | |||||||||||||||||||||||
United Space Alliance LLC | Webster, TX | Warehouse/Distribution | Professional, Scientific and Technical Services | South | 88,200 | 505,020 | 0.59% | Stated | September-06 | September-16 | ||||||||||||||||
United Space Alliance LLC | Houston, TX | Industrial | Professional, Scientific and Technical Services | South | 38,150 | 381,500 | 0.45% | 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-11 | ||||||||||||||||
United Space Alliance LLC | Houston, TX | Industrial | Professional, Scientific and Technical Services | South | 6,104 | 61,040 | 0.07% | Stated | April-06 | April-11 | ||||||||||||||||
United Space Alliance LLC Total | 139,605 | 1,019,068 | 1.19% | |||||||||||||||||||||||
GATX Logistics, Inc. (aka Sears logistics services) | Jacksonville, FL | Warehouse/Distribution | Wholesale Trade | South | 240,000 | 969,946 | 1.13% | None | September-07 | September-07 | ||||||||||||||||
GATX Logistics, Inc. (aka Sears logistics services) Total | 240,000 | 969,946 | 1.13% | |||||||||||||||||||||||
Wal-Mart Stores, Inc. | West Mifflin, PA | Retail | Retail Trade | East | 121,053 | 950,905 | 1.11% | CPI | January-07 | January-37 | ||||||||||||||||
Wal-Mart Stores, Inc. Total | 121,053 | 950,905 | 1.11% | |||||||||||||||||||||||
Pre Finish Metals, Inc. | Walbridge, OH | Industrial | Manufacturing | Midwest | 313,704 | 892,091 | 1.04% | CPI | June-08 | June-28 | ||||||||||||||||
Pre Finish Metals, Inc. Total | 313,704 | 892,091 | 1.04% | |||||||||||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) | Thurmont, MD | Industrial | Construction | East | 150,468 | 687,992 | 0.80% | CPI | March-14 | March-30 | ||||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) | Farmington, NY | Industrial | Construction | East | 29,273 | 132,805 | 0.16% | CPI | March-14 | March-30 | ||||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) Total | 179,741 | 820,797 | 0.96% | |||||||||||||||||||||||
Hibbett Sporting Goods, Inc. | Birmingham, AL | Warehouse/Distribution | Retail Trade | South | 219,312 | 819,935 | 0.96% | CPI | December-14 | December-29 | ||||||||||||||||
Hibbett Sporting Goods, Inc. Total | 219,312 | 819,935 | 0.96% | |||||||||||||||||||||||
AMS Holding Group (Vertafore, Inc.) | College Station, TX | Office | Information | South | 52,552 | 765,101 | 0.89% | None | December-09 | December-15 | ||||||||||||||||
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-06 | ||||||||||||||||
Powerware Corporation (aka Exide Electronics Corp.) Total | 27,770 | 730,215 | 0.85% | |||||||||||||||||||||||
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 | 0.67% | Stated | November-16 | November-26 | ||||||||||||||||
Western Union Financial Services, Inc. Total | 78,080 | 573,221 | 0.67% | |||||||||||||||||||||||
Deloro Stellite (DS) Group Ltd. Total | Goshen, IN | Industrial | Manufacturing | Midwest | 52,000 | 563,715 | 0.66% | CPI | February-10 | February-35 | ||||||||||||||||
Deloro Stellite (DS) Group Ltd. Total | 52,000 | 563,715 | 0.66% | |||||||||||||||||||||||
Yale Security, Inc. | Lemont, IL | Industrial | Manufacturing | Midwest | 113,133 | 519,000 | 0.61% | Stated | March-11 | March-11 | ||||||||||||||||
Yale Security, Inc. Total | 113,133 | 519,000 | 0.61% | |||||||||||||||||||||||
Aviva France (fka Tellit Assurances — Sun Alliance)(3) | Rouen, France | Office | Finance and Insurance | Europe | 27,593 | 517,043 | 0.60% | INSEE(2) | September-10 | September-10 | ||||||||||||||||
Aviva France (fka Tellit Assurances — Sun Alliance) (3) Total | 27,593 | 517,043 | 0.60% | |||||||||||||||||||||||
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% | |||||||||||||||||||||||
ALCOA Inc | Salisbury, NC | Warehouse/Distribution | Manufacturing | East | 200,000 | 471,082 | 0.55% | CPI | June-10 | June-20 | ||||||||||||||||
ALCOA Inc Total | 200,000 | 471,082 | 0.55% | |||||||||||||||||||||||
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-12 | March-22 | ||||||||||||||||
Affiliated Foods Southwest, Inc. | Little Rock, AR | Retail | Wholesale Trade | South | 64,358 | 295,611 | 0.35% | None | January-09 | January-24 | ||||||||||||||||
Affiliated Foods Southwest, Inc. Total | 122,074 | 416,238 | 0.49% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
Laboratoires Nycomed Amersham(3) | Pantin, France | Office | Manufacturing | Europe | 15,404 | 402,783 | 0.47% | INSEE(2) | January-10 | June-15 | ||||||||||||||||
Laboratoires Nycomed Amersham (3) Total | 15,404 | 402,783 | 0.47% | |||||||||||||||||||||||
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 | 0.25% | None | March-11 | March-26 | ||||||||||||||||
Kmart Corporation Total | 192,778 | 390,000 | 0.46% | |||||||||||||||||||||||
Alstom Power Inc. | Erlanger, KY | Warehouse/Distribution | Professional, Scientific and Technical Services | East | 197,400 | 371,220 | 0.43% | Stated | May-13 | May-13 | ||||||||||||||||
Alstom Power Inc. Total | 197,400 | 371,220 | 0.43% | |||||||||||||||||||||||
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.) | Beaumont, TX | Office | Construction | South | 34,300 | 296,352 | 0.35% | 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% | |||||||||||||||||||||||
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.) | Toledo, OH | Industrial | Manufacturing | Midwest | 61,000 | 336,000 | 0.39% | CPI | November-22 | November-22 | ||||||||||||||||
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.) Total | 61,000 | 336,000 | 0.39% | |||||||||||||||||||||||
Pioneer Credit Recovery, Inc. | Moorestown, NJ | Office | Administrative and Support and Waste Management and Remediation Services | East | 30,000 | 330,000 | 0.39% | Fixed | April-12 | April-18 | ||||||||||||||||
Pioneer Credit Recovery, Inc. Total | 30,000 | 330,000 | 0.39% | |||||||||||||||||||||||
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% | |||||||||||||||||||||||
SARL S3T(11) | Loire, France | Office | Information | Europe | 55,594 | 278,394 | 0.33% | INSEE(2) | May-08 | May-08 | ||||||||||||||||
SARL S3T (11) Total | 55,594 | 278,394 | 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-30 | ||||||||||||||||
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 | 0.21% | None | February-07 | February-17 | ||||||||||||||||
US WEST Communications, Inc. (Qwest Communications) | Scottsdale, AZ | Industrial | Information | West | 1,560 | 94,535 | 0.11% | None | February-07 | February-17 | ||||||||||||||||
US WEST Communications, Inc. (Qwest Communications) Total | 4,460 | 270,270 | 0.32% | |||||||||||||||||||||||
Direction Regional des Affaires Sanitaires et Sociales(3) | Rouen, France | Office | Public Administration | Europe | 19,214 | 266,342 | 0.31% | INSEE(2) | March-06 | March-06 | ||||||||||||||||
Direction Regional des Affaires Sanitaires et Sociales (3) Total | 19,214 | 266,342 | 0.31% | |||||||||||||||||||||||
Honeywell, Inc. | Houston, TX | Office | Manufacturing | South | 1 | 36,000 | 0.04% | Stated | September-10 | September-10 | ||||||||||||||||
Honeywell, Inc. | Houston, TX | Warehouse/Distribution | Manufacturing | South | 32,320 | 228,828 | 0.27% | Stated | September-10 | September-10 | ||||||||||||||||
Honeywell, Inc. Total | 32,321 | 264,828 | 0.31% | |||||||||||||||||||||||
Northern Tube, Inc. | Pinconning, MI | Industrial | Manufacturing | Midwest | 220,588 | 254,538 | 0.30% | CPI | July-13 | December-22 | ||||||||||||||||
Northern Tube, Inc. Total | 220,588 | 254,538 | 0.30% | |||||||||||||||||||||||
DSM Food Specialties(11) | Phalemphin, France | Office | Wholesale Trade | Europe | 29,870 | 253,209 | 0.30% | INSEE(2) | May-08 | May-08 | ||||||||||||||||
DSM Food Specialties(11) Total | 29,870 | 253,209 | 0.30% | |||||||||||||||||||||||
Penberthy Products, Inc. | Prophetstown, IL | Industrial | Manufacturing | Midwest | 161,878 | 237,486 | 0.28% | CPI | April-11 | April-26 | ||||||||||||||||
Penberthy Products, Inc. Total | 161,878 | 237,486 | 0.28% | |||||||||||||||||||||||
Department de Seine St. Denis(3) | Pantin, France | Office | Public Administration | Europe | 8,451 | 232,807 | 0.27% | INSEE(2) | December-11 | December-11 | ||||||||||||||||
Department de Seine St. Denis (3) Total | 8,451 | 232,807 | 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-26 | ||||||||||||||||
Ace Hardware (Bay Area Blvd, Houston TX) Total | 23,569 | 212,121 | 0.25% | |||||||||||||||||||||||
La Region Ile de France(3) | Pantin, France | Office | Public Administration | Europe | 7,613 | 210,578 | 0.25% | INSEE(2) | October-12 | October-12 | ||||||||||||||||
La Region Ile de France (3) Total | 7,613 | 210,578 | 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% | |||||||||||||||||||||||
GIE Groupe Vauban(3) | Pantin, France | Office | Finance and Insurance | Europe | 7,613 | 187,847 | 0.22% | INSEE(2) | September-12 | September-12 | ||||||||||||||||
GIE Groupe Vauban (3) Total | 7,613 | 187,847 | 0.22% | |||||||||||||||||||||||
�� | ||||||||||||||||||||||||||
Xerox Corporation | Hot Springs, AR | Retail | Manufacturing | South | 36,850 | 171,721 | 0.20% | None | May-11 | May-21 | ||||||||||||||||
Xerox Corporation Total | 36,850 | 171,721 | 0.20% | |||||||||||||||||||||||
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% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
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% | |||||||||||||||||||||||
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-08 | December-11 | ||||||||||||||||
Custom Training Group Total | 11,704 | 99,480 | 0.12% | |||||||||||||||||||||||
RATP(3) | Pantin, France | Office | Transportation and Warehousing | Europe | 3,407 | 92,201 | 0.11% | INSEE(2) | November-09 | November-09 | ||||||||||||||||
RATP (3) Total | 3,407 | 92,201 | 0.11% | |||||||||||||||||||||||
General Services Administration (US Government) in Bloomington, IL | 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% | |||||||||||||||||||||||
L’Agence Nationale Pour L’Emploi(3) | Pantin, France | Office | Public Administration | Europe | 3,633 | 74,515 | 0.09% | INSEE(2) | June-07 | June-15 | ||||||||||||||||
L’Agence Nationale Pour L’Emploi (3) Total | 3,633 | 74,515 | 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-15 | ||||||||||||||||
Bike Barn Holding Company, Inc. (Bay Area Blvd, Houston, TX) Total | 6,216 | 71,280 | 0.08% | |||||||||||||||||||||||
The Boeing Company | Houston, TX | Warehouse/Distribution | Professional, Scientific and Technical Services | South | 10,960 | 71,040 | 0.08% | None | January-09 | January-13 | ||||||||||||||||
The Boeing Company 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-13 | ||||||||||||||||
Richard Millburn Academy (Century Plaza Drive Houston, TX) Total | 7,860 | 69,840 | 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% | |||||||||||||||||||||||
AFPOLS(3) | Pantin, France | Office | Public Administration | Europe | 3,488 | 65,637 | 0.08% | INSEE(2) | June-08 | June-08 | ||||||||||||||||
AFPOLS (3) Total | 3,488 | 65,637 | 0.08% | |||||||||||||||||||||||
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-07 | ||||||||||||||||
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% | |||||||||||||||||||||||
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-12 | ||||||||||||||||
Scientific Martial Arts & Fitness Total | 5,488 | 24,696 | 0.03% | |||||||||||||||||||||||
CGEC Keter | Paris, France | Office | Manufacturing | Europe | 2,301 | 18,827 | 0.02% | INSEE(2) | December-14 | December-14 | ||||||||||||||||
CGEC Keter Total | 2,301 | 18,827 | 0.02% | |||||||||||||||||||||||
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% | |||||||||||||||||||||||
Appointment Quest | Broomfield, CO | Office | Information | West | 1,670 | 12,024 | 0.01% | None | May-09 | May-09 | ||||||||||||||||
Appointment Quest Total | 1,670 | 12,024 | 0.01% |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Annualized | Percentage of | Increase | |||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Rent | Total Rent | Factor | Lease Expiration | Maximum Term | ||||||||||||||||
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% | |||||||||||||||||||||||
Aardvark IT Solutions | Broomfield, CO | Office | Retail Trade | West | 3,069 | 10,742 | 0.01% | None | September-06 | N/A | ||||||||||||||||
Aardvark IT Solutions Total | 3,069 | 10,742 | 0.01% | |||||||||||||||||||||||
Abilis | Pantin, France | Office | Other Services (except Public Administration) | Europe | 0 | 10,319 | 0.01% | INSEE(2) | February-07 | January-08 | ||||||||||||||||
Abilis Total | 0 | 10,319 | 0.01% | |||||||||||||||||||||||
Ass Comite Dept du Tourisme | Pantin, France | Office | Tourism | Europe | N/A | 9,278 | 0.01% | INSEE(2) | June-07 | June-07 | ||||||||||||||||
Ass Comite Dept du Tourisme Total | 0 | 9,278 | 0.01% | |||||||||||||||||||||||
Classic Cuisines Catering | Bloomingdale, IL | Office | Accomodation and Food Services | Midwest | 1,000 | 9,000 | 0.01% | None | October-08 | October-08 | ||||||||||||||||
Classic Cuisines Catering Total | 1,000 | 9,000 | 0.01% | |||||||||||||||||||||||
Fine Art Mannequins, LLC | Broomfield, CO | Office | N/A | West | 2,209 | 8,836 | 0.01% | None | April-07 | April-09 | ||||||||||||||||
Fine Art Mannequins, LLC Total | 2,209 | 8,836 | 0.01% | |||||||||||||||||||||||
AT&T Wireless Service | Broomfield, CO | Office | Information | West | 730 | 8,208 | 0.01% | Stated | May-06 | May-06 | ||||||||||||||||
AT&T Wireless Service Total | 730 | 8,208 | 0.01% | |||||||||||||||||||||||
Remote Access Diagnostic Radiography | Broomfield, CO | Office | N/A | West | 2,093 | 7,765 | 0.01% | None | October-06 | October-06 | ||||||||||||||||
Remote Access Diagnostic Radiography Total | 2,093 | 7,765 | 0.01% | |||||||||||||||||||||||
EarthRoamer.com | Broomfield, CO | Office | N/A | West | 7,500 | 7,500 | 0.01% | None | April-07 | April-07 | ||||||||||||||||
EarthRoamer.com Total | 7,500 | 7,500 | 0.01% | |||||||||||||||||||||||
Orange(3) | Pantin, France | Office | Information | Europe | N/A | 7,034 | 0.01% | None | June-15 | N/A | ||||||||||||||||
Orange (3) Total | 0 | 7,034 | 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-07 | February-07 | ||||||||||||||||
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 | December-06 | December-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 | Salisbury, NC | Warehouse/Distribution | N/A | East | 87,000 | — | — | 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 | Moorestown, NJ | Office | N/A | East | 35,567 | — | — | 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 | Broomfield, CO | Office | N/A | West | 15,017 | — | — | 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 | 5,953 | — | — | 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 | 3,450 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Broomfield, CO | Office | N/A | West | 1,093 | — | — | 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 | 510,885 | |||||||||||||||||||||||||
Grand Total | 16,071,735 | 85,566,491 | 100% |
(1) | WPC LLC owns 95% of this property. Rents reflect a conversion rate of 1.2551 USD/EUR as of June 30, 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 1.2551 USD/EUR as of June 30, 2006. | |
(4) | WPC LLC owns 22.5% of this property. Rents reflect a conversion rate of 1.2551 USD/EUR as of June 30, 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 1.2551 USD/EUR as of June 30, 2006. |
Ticker: WPC | www.wpcarey.com |