EXHIBIT 99.1
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W. P. Carey & Co. LLC
Supplemental Disclosure Report
Supplemental Disclosure Report
For the Year Ended
December 31, 2006
December 31, 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 Year Ended December 31, 2006
Contents | Page | |||
CORPORATE PROFILE: | ||||
Company Overview | 5 | |||
Full Year and Fourth Quarter Ended December 31, 2006 Results | 6 | |||
Financial Highlights | 7 | |||
FINANCIAL ANALYSIS: | ||||
Reconciliation of Net Income to FFO and FAD Analysis | 9 | |||
Debt Structure Analysis | 10 | |||
Total Capitalization Analysis | 11 | |||
Revenue Diversification Analysis | 12 | |||
Revenue Stability Analysis | 13 | |||
Selected Financial Ratios Analysis | 14 | |||
Portfolio Debt Summary | 15 | |||
Mortgage Debt Maturity Profile | 16 | |||
ACQUISITIONS & DISPOSITIONS: | ||||
2006 Acquisitions Update | 18 | |||
2006 Dispositions Update | 19 | |||
PORTFOLIO ANALYSIS: | ||||
Portfolio Diversification Analysis by Rent Contribution | 21 | |||
Portfolio Diversification Analysis by Property Type | 22 | |||
Portfolio Diversification Analysis by Tenant Industry | 23 | |||
Portfolio Diversification Analysis by Geography | 24 | |||
Portfolio Lease Maturity Analysis | 25 | |||
EXHIBITS: | ||||
Consolidated Balance Sheets | Exhibit A | |||
Consolidated Statements of Income | Exhibit B | |||
Consolidated Statements of Cash Flows | Exhibit C | |||
Quarterly Reconciliation of Net Income to Funds from Operations | Exhibit D | |||
Detailed Property Summary | Exhibit E |
CORPORATE PROFILE
SECTION: CORPORATE PROFILE
W. P. CAREY & CO. LLC
Company Overview
December 31, 2006
Company Overview
December 31, 2006
STOCK DATA
Exchanges | NYSE & PCX | |
Ticker | WPC | |
Closing Price Range three months ended December 31, 2006 | $27.66-$30.82 | |
Listed Shares Outstanding as of December 31, 2006 | 38,262,157 |
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
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
Julie Dwyer
Analyst, Finance
Managing Director, Acting Chief Financial Officer
Susan C. Hyde
Executive Director, Director of Investor Relations
Gagan Singh
First Vice President, Finance
Julie Dwyer
Analyst, Finance
EXECUTIVE OFFICES
50 Rockefeller Plaza
New York, NY 10020
Tel: 1-800-WPCAREY or (212) 492-1100
Fax: (212) 492-8922
Web Site Address:www.wpcarey.com
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
Full Year & Fourth Quarter Ended December 31, 2006 Results
Full Year & Fourth Quarter Ended December 31, 2006 Results
Financial Results
Net income for the fourth quarter of 2006 was $43.6 million, compared to $11.5 million in 2005. For 2006, net income was $86.3 million, a 78% increase from $48.6 million in 2005. This increase was primarily due to the merger, gains on sale of investments, lower impairment charges, and lower general and administrative costs.
Diluted earnings per share (EPS) for the fourth quarter increased to $1.12 as compared to $0.30 for the same period in 2005. Diluted EPS for 2006 increased 78% to $2.22 as compared to $1.25 for 2005.
Funds from Operations (FFO) for the fourth quarter was $54.9 million,or $1.39 per diluted share, as compared to $24.2 million, or $0.63 per diluted share, for the comparable period in 2005. FFO for 2006 increased 30% to $128.5 million, or $3.29 per diluted share, as compared to $98.6 million, or $2.53 per diluted share, for 2005.
Cash flows from operating activities for 2006 were $119.9 million, as compared to $52.7 million during 2005.
Dividend Increase
The Board of Directors raised the quarterly cash distribution to $0.458 per share, which was paid on January 12, 2007 to shareholders of record on December 31, 2006.
Investment Highlights
For the fourth quarter of 2006, the Company structured 12 investments on behalf of its managed CPA® REITs totaling $269 million, as compared to $85 million during the fourth quarter of 2005. For 2006, the Company structured 25 investments on behalf of the CPA® REITs totaling approximately $720 million, as compared to $865 million in 2005. Of the total investments in 2006, four were build-to-suit projects with combined estimated construction costs of $103 million. In 2006, approximately 76% of investments were made on behalf of CPA®:16 — Global and approximately 48% were international transactions.
In November 2006, the Company formed a subsidiary focused on investing in the U.S. self-storage industry. This subsidiary acquired six properties for $24.8 million in the fourth quarter of 2006.
Ticker: WPC | 6 | www.wpcarey.com |
SECTION: CORPORATE PROFILE
W. P. CAREY & CO. LLC
Financial Highlights
(in thousands, except share and per share data)
Financial Highlights
(in thousands, except share and per share data)
For the Year | For the Year | For the Year | |||||||||||
Ended | Ended | Ended | |||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | |||||||||||
Operations | |||||||||||||
Total Revenues from Continuing Operations | $ | 273,258 | $ | 168,784 | $ | 219,552 | |||||||
Net Income | $ | 86,303 | $ | 48,604 | $ | 65,841 | |||||||
Funds From Operations (FFO) | $ | 128,537 | $ | 98,571 | $ | 135,139 | |||||||
Per Share | |||||||||||||
FFO (Diluted) | $ | 3.29 | $ | 2.53 | $ | 3.47 | |||||||
Dividends Declared | $ | 1.82 | $ | 1.79 | $ | 1.76 | |||||||
Pay Out Ratio (Dividends Declared/FFO) | 55.3 | % | 70.7 | % | 50.6 | % | |||||||
Weighted Average Listed Shares Outstanding (Diluted) | 39,093,897 | 39,020,801 | 38,961,748 | ||||||||||
Balance Sheet | As of 12/31/06 | As of 12/31/05 | As of 12/31/04 | ||||||||||
Total Assets | $ | 1,093,010 | $ | 983,262 | $ | 1,013,539 | |||||||
Limited Recourse Mortgage Debt(1) | $ | 261,152 | $ | 231,113 | $ | 190,698 | |||||||
Unsecured Credit Facility | $ | 2,000 | $ | 15,000 | $ | 102,000 | |||||||
Secured Credit Facility (Self-Storage) | $ | 15,501 | $ | — | $ | — | |||||||
Members’ Equity | $ | 631,985 | $ | 607,468 | $ | 620,651 | |||||||
Stock Data | |||||||||||||
Price Range | $ | 24.20-$30.82 | $ | 23.95-$35.52 | |||||||||
Dividend Yield Range | 5.91% - 7.52 | % | 5.00% - 7.52 | % | |||||||||
Average Trading Volume | 28,441 | 39,915 | |||||||||||
Price/Estimated FFO(2) | 11.38 | 9.19 |
(1) | Excludes pro rata mortgage debt of equity investments and minority interests. See the Portfolio Debt Summary on page 15 for details. | |
(2) | Based on a stock price of $31.30 on February 15, 2007 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)
Reconciliation of Net Income to Funds From Operations (FFO) & FAD Analysis
(in thousands, except share and per share data)
For the Year | For the Year | For the Year | |||||||||||
Ended | Ended | Ended | |||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | |||||||||||
Net income | $ | 86,303 | $ | 48,604 | $ | 65,841 | |||||||
Gain on sale of real estate | (3,452 | ) | (12,474 | ) | (92 | ) | |||||||
FFO of equity investees in excess of equity income | 9,802 | 10,358 | 7,010 | ||||||||||
Depreciation, amortization, deferred taxes and other non-cash charges | 29,022 | 27,094 | 39,113 | ||||||||||
FFO applicable to minority investees in excess of minority income | (794 | ) | (602 | ) | (555 | ) | |||||||
Straight-line rents | 3,152 | 3,821 | 1,724 | ||||||||||
Impairment charges and loan losses | 4,504 | 21,770 | 22,098 | ||||||||||
Funds From Operations (FFO) | $ | 128,537 | $ | 98,571 | $ | 135,139 | |||||||
Weighted Average Listed Shares Outstanding Basic | |||||||||||||
Basic | 37,668,920 | 37,688,835 | 37,417,918 | ||||||||||
Diluted | 39,093,897 | 39,020,801 | 38,961,748 | ||||||||||
FFO per Share | |||||||||||||
Basic | $ | 3.41 | $ | 2.62 | $ | 3.61 | |||||||
Diluted | $ | 3.29 | $ | 2.53 | $ | 3.47 | |||||||
Pay Out Ratio (Dividend/FFO) | 55.3 | % | 70.7 | % | 50.6 | % | |||||||
Funds From Operations (FFO) | 128,537 | 98,571 | 135,139 | ||||||||||
Recurring and non-revenue enhancing capital expenditure | (714 | ) | (939 | ) | (215 | ) | |||||||
Funds Available For Distribution (FAD) | $ | 127,824 | $ | 97,632 | $ | 134,924 | |||||||
FAD Per Share | |||||||||||||
Basic | $ | 3.39 | $ | 2.59 | $ | 3.61 | |||||||
Diluted | $ | 3.27 | $ | 2.50 | $ | 3.46 | |||||||
Pay Out Ratio (Dividend/FAD) | 55.7 | % | 71.5 | % | 50.8 | % |
Ticker: WPC | 9 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Debt Structure Analysis
(in thousands)
Debt Structure Analysis
(in thousands)
Debt Structure
September 30, 2006
Limited Recourse Mortgage Debt(1) | $ | 287,837 | 100 | % | ||||
Unsecured Credit Facility | — | 0 | % | |||||
Secured Credit Facility (Self-Storage) | — | 0 | % | |||||
Total Debt | $ | 287,837 | 100 | % | ||||
Dabt Structure — September 30, 2006
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December 31, 2006
Limited Recourse Mortgage Debt(1) | $ | 354,144 | 95 | % | ||||
Unsecured Credit Facility | 2,000 | 1 | % | |||||
Secured Credit Facility (Self-Storage) | 15,501 | 4 | % | |||||
Total Debt | $ | 371,645 | 100 | % | ||||
Dabt Structure — December 31, 2006
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(1) | Adjusted for pro rata mortgage debt of equity investments and minority interests. See 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
December 31, 2006
(in thousands)
Total Capitalization Analysis
December 31, 2006
(in thousands)
Total Market Capitalization Analysis
Equity Market Capitalization of Listed Shares (1) | $ | 1,223,639 | 77 | % | ||||
Limited Recourse Mortgage Debt (2) | 354,144 | 22 | % | |||||
Unsecured Credit Facility | 2,000 | 0 | % | |||||
Secured Credit Facility (Self-Storage) | 15,501 | 1 | % | |||||
Total Debt | 371,645 | 23 | % | |||||
Total Market Capitalization (3) | $ | 1,595,283 | 100 | % | ||||
Total Market Capitalization
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Total Book Value Capitalization Analysis
Members’ Equity | $ | 631,985 | 63 | % | ||||
Limited Recourse Mortgage Debt (2) | 354,144 | 35 | % | |||||
Unsecured Credit Facility | 2,000 | 0 | % | |||||
Secured Credit Facility (Self-Storage) | 15,501 | 2 | % | |||||
Total Debt | 371,645 | 37 | % | |||||
Total Book Value Capitalization(3) | $ | 1,003,630 | 100 | % | ||||
Total Book Value Capitalization
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(1) | Stock price of $31.30 is as of February 15, 2007. Diluted shares outstanding of 39,093,897 for the year ended December 31, 2006. | |
(2) | Adjusted for pro rata mortgage debt of equity investments and minority interests. 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)
Revenue Diversification Analysis(GAAP Modified)
(in thousands)
Three Months Ended
December 31, 2006
December 31, 2006
Revenues from Real Estate Operations(1) | $ | 22,680 | 25 | % | ||||
Revenues from Management Services Operations(2) | 66,891 | 75 | % | |||||
Total Revenues(3) | $ | 89,571 | 100 | % | ||||
Revenue Diversification
Three Months Ended December 31, 2006
Three Months Ended December 31, 2006
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Year Ended
December 31, 2006
December 31, 2006
Revenues from Real Estate Operations(1) | $ | 88,095 | 41 | % | ||||
Revenues from Management Services Operations(2) | 126,157 | 59 | % | |||||
Total Revenues(3) | $ | 214,252 | 100 | % | ||||
Revenue Diversification
Year Ended December 31, 2006
Year Ended December 31, 2006
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Definitions
(1) | Revenues from Real Estate Operations (continuing and discontinued operations) = lease revenues + other real estate income + other interest income. | |
(2) | Revenues from Management Services Operations = asset management revenue + structuring revenue + merger-related revenue of $46,018 earned in connection with the CPAÒ: 12/14 merger in December 2006. | |
(3) | Total revenues exclude reimbursements of costs received from affiliated CPAÒREITs as they 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)
Revenue Stability Analysis(GAAP Modified)
(in thousands except per share data)
Diluted | ||||||||||||
Three Months Ended | Per | |||||||||||
Revenue Type | December 31, 2006 | Share | % | |||||||||
Rents (1) | $ | 22,009 | $ | 0.56 | ||||||||
Management revenue(2) | 14,155 | $ | 0.36 | |||||||||
Rents and Management Revenue(3) | 36,164 | $ | 0.92 | 40 | % | |||||||
Structuring revenue(3) | 6,719 | $ | 0.17 | |||||||||
Disposition / termination revenue(4) | 46,018 | $ | 1.17 | |||||||||
Other real estate income | 671 | $ | 0.02 | |||||||||
Structuring Revenue & Other Income | 53,407 | $ | 1.36 | 60 | % | |||||||
Total (5) (6) | $ | 89,571 | $ | 2.27 | 100 | % | ||||||
Revenue Stability
Three Months Ended December 31, 2006
Three Months Ended December 31, 2006
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Diluted | ||||||||||||
Year Ended | Per | |||||||||||
Revenue Type | December 31, 2006 | Share | % | |||||||||
Rents (1) | $ | 85,488 | $ | 2.19 | ||||||||
Management revenue(2) | 57,633 | $ | 1.47 | |||||||||
Rents and Management Revenue(3) | 143,121 | $ | 3.66 | 67 | % | |||||||
Structuring revenue(3) | 22,506 | $ | 0.58 | |||||||||
Disposition / termination revenue(4) | 46,018 | $ | 1.18 | |||||||||
Other real estate income | 2,608 | $ | 0.07 | |||||||||
Structuring Revenue & Other Income | 71,132 | $ | 1.82 | 33 | % | |||||||
Total (5) (6) | $ | 214,253 | $ | 5.48 | 100 | % | ||||||
Revenue Stability
Year Ended December 31, 2006
Year Ended December 31, 2006
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(1) | Rents (continuing and discontinued operations) = lease revenues + other real estate income + other interest income. | |
(2) | Management revenues include management and performance revenues earned from CPAÒREITs under management. | |
(3) | Structuring revenue includes structuring fees and deferred structuring fees. | |
(4) | Disposition and termination revenues related to CPAÒ: 12 and 14 merger. | |
(5) | Numbers may not add up due to rounding. | |
(6) | Excludes reimbursement of expenses of $26,976 and $63,630 for the quarter and year ended 12/31/06. |
Ticker: WPC | 13 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Selected Financial Ratios Analysis
December 31, 2006
Selected Financial Ratios Analysis
December 31, 2006
For the Year | For the Year | For the Year | |||||||||||
Ended | Ended | Ended | |||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | |||||||||||
Financial Strength | |||||||||||||
Leverage | |||||||||||||
Recourse debt/Book value of equity | 0.3 | % | 2.5 | % | 16.5 | % | |||||||
Total debt/Total market capitalization | 23.3 | % | 23.5 | % | 21.4 | % | |||||||
Total debt/EBITDA | 1.99 | 2.41 | 1.95 | ||||||||||
FFO/Total debt | 34.6 | % | 32.1 | % | 38.2 | % | |||||||
Coverage | |||||||||||||
EBITDA/Total interest expense | 8.94 | 6.00 | 9.67 | ||||||||||
Fixed charge coverage ratio | 5.49 | 4.08 | 6.34 | ||||||||||
FFO/Total interest expense | 6.15 | 4.63 | 7.21 | ||||||||||
Valuation Ratios | |||||||||||||
Price/Earnings | 14.1 | 20.5 | 19.7 | ||||||||||
Price/FFO | 9.5 | 10.1 | 9.6 | ||||||||||
Price/Revenues | 5.7 | 5.5 | 5.5 | ||||||||||
Price/Book Value of Equity | 1.9 | 1.6 | 2.1 | ||||||||||
Per Share Data | |||||||||||||
Earnings | $ | 2.22 | $ | 1.25 | $ | 1.69 | |||||||
FFO | $ | 3.29 | $ | 2.53 | $ | 3.47 | |||||||
Revenues | $ | 5.48 | $ | 4.64 | $ | 6.04 | |||||||
Book Value of Equity | $ | 16.17 | $ | 15.57 | $ | 15.90 |
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 February 15, 2007. | |
(7) | Revenues = revenue from continuing operations + revenue from discontinued operations + interest income. |
Ticker: WPC | 14 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Debt Summary
(pro rata basis)
December 31, 2006
Portfolio Debt Summary
(pro rata basis)
December 31, 2006
Tenant/Lease Guarantor | Fixed / Variable | Original Balance | Current Balance(11) | Interest Rate | Maturity Date | ||||||||||
Quebecor Printing USA (GA) | Fixed | $ | 7,000,000 | $ | 6,171,815 | 6.82% | Aug-07 | ||||||||
Amerisure Insurance (Michigan Mutual) | Fixed | 9,500,000 | 9,601,141 | 8.80% | Dec-07 | ||||||||||
Billipp Portfolio | Variable (1) | 5,000,000 | 5,000,005 | 5.92% | Dec-08 | ||||||||||
SICOR, Inc. (50%) | Fixed | 6,500,000 | 1,457,867 | 8.13% | Jan-09 | ||||||||||
Orbital Sciences Corporation | Fixed | 15,000,000 | 12,911,674 | 7.38% | Jun-09 | ||||||||||
America West Holdings Corporation (74.58%) | Fixed | 25,000,000 | 16,080,135 | 7.23% | Aug-09 | ||||||||||
Retail Distribution Group (40%) | Fixed | 2,397,578 | 2,250,510 | 8.51% | Sep-09 | ||||||||||
Bell South Telecommunications | Fixed | 5,995,498 | 3,943,049 | 8.11% | Jan-10 | ||||||||||
Hibbett Sports | Fixed | 5,139,462 | 4,722,475 | 7.50% | Apr-10 | ||||||||||
Detroit Diesel Corporation | Fixed | 25,000,000 | 8,635,848 | 7.96% | Jun-10 | ||||||||||
EnviroWorks, Inc. | Fixed | 3,563,292 | 2,621,398 | 10.13% | Oct-10 | ||||||||||
Federal Express Corporation (40%) | Fixed | 18,000,000 | 16,810,784 | 7.50% | Jan-11 | ||||||||||
Autozone- Series A | Fixed | 4,099,504 | 1,842,615 | 6.85% | Jan-11 | ||||||||||
Childtime Childcare, Inc. (33.93%) | Fixed | 2,522,816 | 2,350,709 | 7.50% | Jan-11 | ||||||||||
Information Resources, Inc. (33.33%) | Fixed | 8,665,800 | 7,863,371 | 7.60% | Jan-11 | ||||||||||
Pioneer Credit Recovery, Inc. | Fixed | 6,000,000 | 5,636,940 | 7.34% | Jan-11 | ||||||||||
Autozone, Inc. — Series B | Fixed | 6,289,699 | 2,863,170 | 6.85% | Feb-11 | ||||||||||
Brown/Career Education | Fixed | 7,385,836 | 7,010,996 | 7.58% | Jun-11 | ||||||||||
24 Hour Fitness (Austin) | Fixed | 3,282,994 | 3,014,502 | 7.50% | Aug-11 | ||||||||||
Sprint Spectrum, LP | Fixed | 8,753,000 | 8,318,515 | 7.64% | Aug-11 | ||||||||||
Qwest Communications, Inc. | Fixed | 1,594,023 | 1,513,396 | 7.50% | Jun-12 | ||||||||||
Autozone- Series C | Fixed | 2,033,191 | 1,108,829 | 6.85% | Aug-12 | ||||||||||
BE Aerospace, Inc. | Fixed | 9,200,000 | 8,738,516 | 6.11% | Nov-12 | ||||||||||
Faurecia (AP Parts) | Fixed | 2,675,000 | 2,618,429 | 5.16% | Nov-12 | ||||||||||
Anthony, Inc. Industry | Fixed | 9,285,000 | 9,087,095 | 5.11% | Nov-12 | ||||||||||
Alstom & Werner | Fixed | 10,750,000 | 10,541,887 | 5.18% | Dec-12 | ||||||||||
SAS Pantin Invest France (75%)(2) | Fixed | 12,683,000 | 8,468,061 | 4.92% | Jul-13 | ||||||||||
Autozone- Series D | Fixed | 4,667,621 | 2,779,062 | 6.85% | Aug-13 | ||||||||||
Aviva France (fka Tellit Assurances -SA) (75%)(2) | Fixed (7) | 3,300,750 | 2,502,143 | 4.49% | Aug-13 | ||||||||||
Direction Regional des Affaires Sanitaires et Sociales (aka SCI Le Mail) (75%)(2) | Fixed | 1,341,000 | 920,849 | 4.60% | Aug-13 | ||||||||||
SARL S3T (aka SAS Immo Invest) (80%)(2) | Variable(8) | 1,786,372 | 1,332,077 | 3.86% | May-14 | ||||||||||
DSM Food Specialties (aka SAS Immo Invest) (80%)(2) | Variable(8) | 1,477,451 | 1,101,718 | 4.56% | May-14 | ||||||||||
Carrefour France, SAS (49.625%) | Fixed | 58,216,840 | 59,492,420 | 5.55% | Dec-14 | ||||||||||
Lowe’s Home Improvement Warehouse (fka Eagle Hardware) | Fixed | 9,725,000 | 9,674,847 | 4.87% | Sep-15 | ||||||||||
Bouygues Telecom, S.A. (Tours) (95%)(2) | Variable(9) | 8,853,375 | 8,260,467 | 3.86% | Oct-15 | ||||||||||
Dr. Pepper | Fixed | 33,950,000 | 33,228,636 | 5.13% | Nov-15 | ||||||||||
CheckFree Holdings, Inc. (50%) | Fixed | 15,000,000 | 15,000,000 | 6.18% | Jun-16 | ||||||||||
Bouygues Telecom, S.A. (Illkirch-Graffenstaden) (75%)(2) | Fixed (10) | 11,690,752 | 14,921,148 | 4.77% | Oct-16 | ||||||||||
Consolidated Systems (60%) | Fixed | 7,200,000 | 7,192,652 | 5.87% | Nov-16 | ||||||||||
Western Union | Fixed | 6,000,000 | 6,000,000 | 5.50% | Jan-17 | ||||||||||
Medica France, SA (35%) | Fixed | 11,936,640 | 14,531,318 | 5.63% | Oct-17 | ||||||||||
Hologic, Inc. (36%) | Fixed | 6,660,000 | 6,023,385 | 6.40% | May-23 | ||||||||||
Total Limited Recourse Debt(6) | $ | 405,121,494 | $ | 354,144,454 | 6.18% (3) | ||||||||||
LLC Credit Facility(4) | $ | 2,000,000 | 6.47% | May-07 | |||||||||||
Self-Storage Credit Facility | 15,500,700 | 7.57% | Dec-08 | ||||||||||||
Total Debt | $ | 371,645,154 | 6.24% (5) | ||||||||||||
(1) | Fixed LIBO rate plus 1.25% | |
(2) | Debt balance calculated using an exchange rate of 1.3203 USD/EUR at December 31, 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 December 31, 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 VDP 5-year index plus 85 bps every five years. Current rate changed in October 2006 to 4.723%. | |
(11) | Loan balances may be higher than the original balance due to fair value adjustments. |
Ticker: WPC | 15 | www.wpcarey.com |
SECTION: FINANCIAL ANALYSIS
W. P. CAREY & CO. LLC
Mortgage Debt Maturity Profile
(pro rata basis)
December 31, 2006
Mortgage Debt Maturity Profile
(pro rata basis)
December 31, 2006
Year | Balloon Payments(1) (2) | |||
2007 | $ | 15,540,508 | ||
2008 | 5,000,000 | |||
2009 | 28,927,325 | |||
2010 | 6,612,173 | |||
2011 | 47,181,128 | |||
2012 | 28,260,046 | |||
2013 | 5,162,508 | |||
2014 | 40,179,558 | |||
2015 | 36,005,515 | |||
2016 | 25,198,546 | |||
2017 | 13,023,955 | |||
2018 | — | |||
2019 | — | |||
2020 | — | |||
2021 | — | |||
2022 | — | |||
2023 | 231,984 | |||
Total | $ | 251,323,246 | ||
Mortgage Debt Maturity Profile
![(BAR CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097410.gif)
(1) | Balloon payments calculated using an exchange rate of 1.3203 USD/EUR at December 31, 2006 (where applicable). | |
(2) | Excludes outstanding credit facilities. |
Ticker: WPC | 16 | www.wpcarey.com |
ACQUISITIONS & DISPOSITIONS
SECTION: ACQUISITIONS/DISPOSITIONS
W. P. CAREY & CO. LLC
2006 Acquisitions Update
Purchase Price | Gross Square | |||||||||||||||
Portfolio(s) | Tenant/Lease Guarantor | Property Location | (000s) | Closing Date | Property Type | Footage | ||||||||||
Real Estate Business | ||||||||||||||||
W. P. Carey & Co. LLC | Consolidated Systems | Columbia, SC | 10,530 | October-06 | Manufacturing | 338,766 | ||||||||||
Subtotal | $ | 10,530 | 338,766 | |||||||||||||
Management Business | ||||||||||||||||
CPA®:16 - Global | Corinthian Laramie (1) | Laramie, WY | $ | 26,020 | January-06 | Residential | 200,440 | |||||||||
CPA®:16 - Global | Utex Industries, Inc. | Houston, TX | 14,730 | March-06 | Industrial | 347,910 | ||||||||||
CPA®:15 | OTC Expansion (1) | 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 | 1,621,773 | ||||||||||
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 | 136,856 | ||||||||||
CPA®:16 - Global | Hilite International | Marktheidenfeld, Germany | 24,343 | May-06 | Manufacturing | 194,220 | ||||||||||
CPA®:16 - Global | The Cheese Works Limited | Ringwood, NJ and Alameda, CA | 10,521 | June-06 | Warehouse/Distribution | 74,832 | ||||||||||
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 | ||||||||||
CPA®:16 - Global | Bob’s Discount Furniture Expansion(1) | Norwich, CT | 13,089 | September-06 | Warehouse/Distribution | 213,000 | ||||||||||
CPA®:16 - Global | IDS Malaysia | Shah Alam, Malaysia | 11,013 | September-06 | Manufacturing | 351,947 | ||||||||||
CPA®:16 - Global | Hotel Operator(1) | Bloomington, MN | 49,507 | September-06 | Hospitality | 169,827 | ||||||||||
CPA®:16 - Global | Consolidated Systems | Columbia, SC | 7,351 | October-06 | Manufacturing | 225,843 | ||||||||||
CPA®:16 - Global | Provo Craft & Novelty, Inc. | Spanish Fork, UT | 12,596 | October-06 | Warehouse/Distribution | 212,685 | ||||||||||
CPA®:16 - Global | LifePort, Inc. | Woodland, WA & Georgetown, TX | 6,806 | October-06 | Industrial & Office | 69,849 | ||||||||||
CPA®:16 - Global, CPA®:15 | Görtz & Schiele (US) | Auburn Hills, MI | 24,415 | November-06 | Industrial | 218,174 | ||||||||||
CPA®:16 - Global | TRW Vehicle Safety Systems, Inc. | Washington Township, MI | 40,545 | November-06 | Office | 279,625 | ||||||||||
CPA®:16 - Global, CPA®:15 | Görtz & Schiele (Germany) | Puttlingen and St. Ingbert, Germany | 17,559 | December-06 | Industrial | 189,382 | ||||||||||
CPA®:16 - Global | Optronics | Flora, MS and Muskogee, OK | 5,890 | December-06 | Warehouse/Distribution | 159,573 | ||||||||||
CPA®:16 - Global | Fraikin | 61 properties throughout France | 68,009 | December-06 | Other Properties | 832,323 | ||||||||||
CPA®:16 - Global | Tecnofarma | Fort Collins, CO | 13,613 | December-06 | Industrial | 64,994 | ||||||||||
CPA®:16 - Global | Contract Research Solutions | St. Charles, MO | 21,641 | December-06 | Industrial | 102,699 | ||||||||||
CPA®:16 - Global | Metro Waste | Salt Lake City, UT | 10,471 | December-06 | Industrial | 120,360 | ||||||||||
CPA®:16 - Global | Performance Fibers | Bad Hersfeld, Germany | 39,708 | December-06 | Industrial | 858,960 | ||||||||||
Subtotal(2) | $ | 719,951 | 7,240,505 | |||||||||||||
Self-Storage Fund | ||||||||||||||||
Self-Storage Fund | Stor-U-Self 5 Asset Portfolio | Massachusetts and Connecticut | 19,850 | December-06 | Other Properties | 281,956 | ||||||||||
Self-Storage Fund | Aces Killeen | Killeen, TX | 4,950 | December-06 | Other Properties | 95,000 | ||||||||||
Subtotal(2) | $ | 24,800 | 376,956 | |||||||||||||
Total(2) (3) | $ | 755,281 | 7,956,227 | |||||||||||||
(1) | Represents a build-to-suit transaction or facility expansion. Gross Square Footage and Costs are estimates. | |
(2) | Numbers may not add up due to rounding. | |
(3) | Does not include acquisitions of properties by LLC during CPAÒ : 12 liquidation. |
18
SECTION: ACQUISITIONS/DISPOSITIONS
W. P. CAREY & CO. LLC
2006 Dispositions Update
2006 Dispositions Update
Gross Sale Price | ||||||||||
Portfolio(s) | Tenant/Lease Guarantor | Property Location(s) | Disposition 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 | ||||||
WPC LLC | Gibson Greeting | Amberley Village, OH | Jun-06 | 6,250 | ||||||
WPC LLC | Red Bank | Cincinnati, OH | Sep-06 | 10,001 | ||||||
WPC LLC | Excel | Reno, NV | Oct-06 | 8,000 | ||||||
Subtotal | $ | 32,417 | ||||||||
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 | ||||||
CPA®:12, 14, 15 | Starmark Camhood LLC (Wellbridge) | Burnsville, MN | Jul-06 | 4,082 | ||||||
CPA®:12, 14, 15 | Starmark Camhood LLC (Wellbridge) | Brooklyn Center, MN | Jul-06 | 2,017 | ||||||
CPA®:12, 14, 15 | Starmark Camhood LLC (Wellbridge) | Bloomington, MN | Jul-06 | 3,686 | ||||||
CPA®:12, 14, 15 | Starmark Camhood LLC (Wellbridge) | Minnetonka, MN | Jul-06 | 215 | ||||||
CPA®:12, 14 | Etec Systems (Applied Materials) | Hayward, CA | Oct-06 | 98,693 | ||||||
CPA®:12 | Balanced Care | Mechanicsburg, PA | Oct-06 | 7,000 | ||||||
CPA®:12 | Milford Manufacturing (PAGG) | Milford, MA | Nov-06 | 4,125 | ||||||
CPA®:15 | Affina Corporation | Peoria, IL | Nov-06 | 16,500 | ||||||
CPA®:14 | Burlington Motors | Daleville, IN | Dec-06 | 2,250 | ||||||
Subtotal | $ | 420,870 | ||||||||
Total | $ | 453,287 | ||||||||
19
PORTFOLIO ANALYSIS
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Rent Contribution
December 31, 2006
Portfolio Diversification Analysis by Rent Contribution
December 31, 2006
Based on Ongoing Rental Income
Annualized | Percentage of Total | Percentage of | ||||||||||
Top Ten Tenants/Lease Guarantors | Rent | Annualized Rent | Revenue(1) | |||||||||
Carrefour France, S.A. | 9,096,463 | 9.1 | % | 4.2 | % | |||||||
Dr Pepper/Seven Up Bottling Group | 4,683,737 | 4.7 | % | 2.2 | % | |||||||
Detroit Diesel Corporation | 4,634,253 | 4.6 | % | 2.2 | % | |||||||
Bouygues Telecom, S.A. | 3,986,319 | 4.0 | % | 1.9 | % | |||||||
Orbital Sciences Corporation | 3,022,947 | 3.0 | % | 1.4 | % | |||||||
Federal Express Corporation | 3,015,966 | 3.0 | % | 1.4 | % | |||||||
The Titan Corporation | 2,862,068 | 2.9 | % | 1.3 | % | |||||||
America West Holdings Corporation | 2,837,889 | 2.8 | % | 1.3 | % | |||||||
CheckFree Holdings, Inc. | 2,301,768 | 2.3 | % | 1.1 | % | |||||||
AutoZone, Inc. | 2,216,594 | 2.2 | % | 1.0 | % | |||||||
Percentage of Total | Number of Tenants/Lease | |||
Annualized Rent | Guarantors | |||
10.0% < rent | 0 | |||
10.0% > ,³ 7.5% | 1 | |||
7.5% > ,³5.0% | 0 | |||
5.0% > ,³2.5% | 7 | |||
2.5% > rent | 103 | |||
Percentage of | Number of Tenants/Lease | |||
Revenue(1) | Guarantors | |||
10.0% < rent | 0 | |||
10.0% > ,³ 7.5% | 0 | |||
7.5% > ,³5.0% | 0 | |||
5.0% > ,³2.5% | 1 | |||
2.5% > rent | 110 | |||
(1) | Revenues = revenue from continuing operations + revenue from discontinued operations + other interest income. |
21
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Property Type
December 31, 2006
Portfolio Diversification Analysis by Property Type
December 31, 2006
Property Type | Square Footage(2) | Percent | ||||||
Industrial | 9,017,092 | 50.1 | % | |||||
Warehouse/Distribution | 5,285,831 | 29.4 | % | |||||
Office | 2,191,216 | 12.2 | % | |||||
Retail | 1,011,777 | 5.6 | % | |||||
Hospitality | 158,000 | 0.9 | % | |||||
Other(3) | 326,866 | 1.8 | % | |||||
Total (4) | 17,990,782 | 100.0 | % | |||||
Portfolio Diversification by Property Type
(based on square footage)
(based on square footage)
![(PIE CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097411.gif)
Property Type | Annualized Rent (1) | Percent | ||||||
Industrial | $ | 35,104,082 | 35.1 | % | ||||
Office | 31,101,488 | 31.1 | % | |||||
Warehouse/Distribution | 20,992,311 | 21.0 | % | |||||
Retail | 6,164,974 | 6.2 | % | |||||
Hospitality | 1,200,000 | 1.2 | % | |||||
Other (3) | 5,440,168 | 5.4 | % | |||||
Total (4) | $ | 100,003,023 | 100.0 | % | ||||
Portfolio Diversification by Property Type
(based on annualized rents)
(based on annualized rents)
![(PIE CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097412.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) | Reflects land used for education, child care, and social services; health care; leisure, amusement, and recreation; unoccupied land. | |
(4) | Numbers may not add up due to rounding. |
22
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Tenant Industry
December 31, 2006
Portfolio Diversification Analysis by Tenant Industry
December 31, 2006
Annualized | Percentage | |||||||
Industry Type(1) | Rent | of Rent(2) | ||||||
Retail | $ | 14,421,800 | 14.4 | % | ||||
Telecommunications | 12,491,563 | 12.5 | % | |||||
Health Care, Education, and Child Care | 8,615,301 | 8.6 | % | |||||
Business and Commercial Services | 7,675,990 | 7.7 | % | |||||
Electronics | 7,016,918 | 7.0 | % | |||||
Transportation — Personal | 6,011,054 | 6.0 | % | |||||
Consumer Non-durable Goods | 5,781,861 | 5.8 | % | |||||
Beverages, Food, and Tobacco | 5,335,207 | 5.3 | % | |||||
Machinery | 5,281,856 | 5.3 | % | |||||
Aerospace and Defense | 4,866,910 | 4.9 | % | |||||
Forest Products and Paper | 4,413,025 | 4.4 | % | |||||
Mining, Metals, and Primary Metal Industries | 2,672,396 | 2.7 | % | |||||
Construction and Building | 2,529,149 | 2.5 | % | |||||
Insurance | 2,198,904 | 2.2 | % | |||||
Federal, State, and Local Government | 2,092,396 | 2.1 | % | |||||
Media: Printing and Publishing | 1,940,625 | 1.9 | % | |||||
Chemicals, Plastics, Rubber, and Glass | 1,717,741 | 1.7 | % | |||||
Hotels and Gaming | 1,209,000 | 1.2 | % | |||||
Textiles, Leather, and Apparel | 949,663 | 0.9 | % | |||||
Leisure, Amusement, and Entertainment | 854,462 | 0.9 | % | |||||
Other(3) | 1,927,202 | 1.9 | % | |||||
Total(4) | $ | 100,003,023 | 100.0 | % | ||||
(1) | Based on the Moody’s Classification System and information provided by the tenant. | |
(2) | Rents reflect current annualized rents on a pro rata basis. | |
(3) | Reflects properties with tenants in the industries of grocery, banking, automobile, and buildings and real estate | |
(4) | Numbers may not add up due to rounding. |
![(PIE CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097413.gif)
23
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Geography
December 31, 2006
Portfolio Diversification Analysis by Geography
December 31, 2006
Region | Square Footage(2) | Percentage | ||||||
Midwest | 4,983,541 | 27.7 | % | |||||
South | 4,933,174 | 27.4 | % | |||||
East | 3,809,017 | 21.2 | % | |||||
West | 2,321,016 | 12.9 | % | |||||
Europe | 1,944,034 | 10.8 | % | |||||
Total(3) | 17,990,782 | 100.0 | % | |||||
![(PIE CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097415.gif)
Region | Annualized Rent(1) | Percentage | ||||||
South | $ | 27,932,498 | 27.9 | % | ||||
West | 21,148,476 | 21.1 | % | |||||
Midwest | 19,078,241 | 19.1 | % | |||||
East | 13,910,045 | 13.9 | % | |||||
Europe | 17,933,763 | 17.9 | % | |||||
Total(3) | $ | 100,003,023 | 100.0 | % | ||||
![(PIE CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097414.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. |
24
SECTION: PORTFOLIO ANALYSIS
W. P. CAREY & CO. LLC
Portfolio Lease Maturity Analysis
December 31, 2006
Portfolio Lease Maturity Analysis
December 31, 2006
Year of | Number of | Annualized | Percentage of Total | Average Years to | ||||||||||||
Lease Expiration | Leases | Rents(1) | Annualized Rents | Maturity | ||||||||||||
2006 | 8 | $ | 59,049 | 0.1 | % | 0.00 | ||||||||||
2007 | 23 | 7,059,538 | 7.1 | % | 1.00 | |||||||||||
2008 | 17 | 5,571,003 | 5.6 | % | 2.00 | |||||||||||
2009 | 18 | 12,341,562 | 12.3 | % | 3.00 | |||||||||||
2010 | 25 | 14,692,340 | 14.7 | % | 4.00 | |||||||||||
2011 | 59 | 17,920,380 | 17.9 | % | 5.00 | |||||||||||
2012 | 18 | 6,775,172 | 6.8 | % | 6.00 | |||||||||||
2013 | 17 | 6,095,638 | 6.1 | % | 7.00 | |||||||||||
2014 | 7 | 9,177,211 | 9.2 | % | 8.00 | |||||||||||
2015 | 7 | 3,345,946 | 3.3 | % | 9.00 | |||||||||||
2016 | 15 | 1,644,134 | 1.6 | % | 10.00 | |||||||||||
2017 | 7 | 2,358,579 | 2.4 | % | 11.00 | |||||||||||
2018 | 3 | 3,161,852 | 3.2 | % | 12.00 | |||||||||||
2019 | 4 | 2,746,528 | 2.7 | % | 13.00 | |||||||||||
2020 | 1 | 4,634,253 | 4.6 | % | 14.00 | |||||||||||
2021 | — | — | 0.0 | % | 15.00 | |||||||||||
2022 | 3 | 1,472,138 | 1.5 | % | 16.00 | |||||||||||
2023 | — | — | 0.0 | % | 17.00 | |||||||||||
2024 | — | — | 0.0 | % | 18.00 | |||||||||||
2025 | — | — | 0.0 | % | 19.00 | |||||||||||
2026 | 1 | 947,700 | 0.9 | % | 20.00 | |||||||||||
Total(2) | 233 | $ | 100,003,023 | 100 | % | |||||||||||
Weighted Average Years to Maturity: | 6.14 |
(1) | Month to month properties are counted in current year’s revenue stream. | |
(2) | Numbers may not add up due to rounding. |
![(BAR CHART)](https://capedge.com/proxy/8-K/0000950123-07-002759/y30974y3097416.gif)
25
EXHIBITS(1)
(1) | Sources for Exhibits A, B, C and D include a) Forms 10-K for the years 2004, 2005 & 2006 b) Company Press Releases |
EXHIBIT A
W. P. CAREY & CO. LLC
Consolidated Balance Sheets
(in thousands except share amounts)
(in thousands except share amounts)
December 31, 2006 | December 31, 2005 | December 31, 2004 | ||||||||||||
ASSETS: | ||||||||||||||
Real estate, net | $ | 540,504 | $ | 454,478 | $ | 476,365 | ||||||||
Net investment in direct financing leases | 108,581 | 131,975 | 190,644 | |||||||||||
Equity investments in real estate | 166,147 | 134,567 | 110,379 | |||||||||||
Operating real estate, net | 33,606 | 7,865 | 9,140 | |||||||||||
Assets held for sale | 1,269 | 18,815 | 12,802 | |||||||||||
Cash and cash equivalents | 22,108 | 13,014 | 16,715 | |||||||||||
Due from affiliates | 88,884 | 82,933 | 63,471 | |||||||||||
Goodwill | 63,607 | 63,607 | 63,607 | |||||||||||
Intangible assets, net | 43,742 | 40,700 | 50,501 | |||||||||||
Other assets, net | 24,562 | 35,308 | 19,915 | |||||||||||
Total assets | $ | 1,093,010 | $ | 983,262 | $ | 1,013,539 | ||||||||
LIABILITIES AND MEMBERS’ EQUITY: | ||||||||||||||
Liabilities: | ||||||||||||||
Limited recourse mortgage notes payable | $ | 261,152 | $ | 226,701 | $ | 190,698 | ||||||||
Limited recourse mortgage notes payable on assets held for sale | — | 4,412 | — | |||||||||||
Unsecured credit facility | 2,000 | 15,000 | 102,000 | |||||||||||
Secured credit facility | 15,501 | — | — | |||||||||||
Accrued interest | 1,974 | 2,036 | 1,389 | |||||||||||
Distributions payable | 17,482 | 16,963 | 16,626 | |||||||||||
Due to affiliates | 1,239 | 2,994 | 2,033 | |||||||||||
Deferred revenue | 40,490 | 23,085 | — | |||||||||||
Accounts payable and accrued expense | 32,073 | 23,002 | 19,838 | |||||||||||
Prepaid and deferred rental income and security deposits | 5,548 | 4,414 | 4,881 | |||||||||||
Accrued income taxes | 21,935 | 634 | 3,909 | |||||||||||
Deferred income taxes, net | 41,527 | 39,908 | 38,359 | |||||||||||
Other liabilities | 12,339 | 12,956 | 11,748 | |||||||||||
Total liabilities | 453,260 | 372,105 | 391,481 | |||||||||||
Minority interest in consolidated entities | 7,765 | 3,689 | 1,407 | |||||||||||
Commitments and contingencies | ||||||||||||||
Members’ equity: | ||||||||||||||
Listed shares, no par value | 745,969 | 740,593 | 734,658 | |||||||||||
Distributions in excess of accumulated earnings | (114,008 | ) | (131,178 | ) | (112,441 | ) | ||||||||
Unearned compensation | — | (5,119 | ) | (5,366 | ) | |||||||||
Accumulated other comprehensive income | 24 | 3,172 | 3,800 | |||||||||||
Total members’ equity | 631,985 | 607,468 | 620,651 | |||||||||||
Total liabilities and members’ equity | $ | 1,093,010 | $ | 983,262 | $ | 1,013,539 | ||||||||
Ticker: WPC | www.wpcarey.com |
EXHIBIT B
W. P. CAREY & CO. LLC
Consolidated Statements of Income
(in thousands, except share and per share amounts)
(in thousands, except share and per share amounts)
For the Year | For the Year | For the Year | ||||||||||||
Ended | Ended | Ended | ||||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | ||||||||||||
REVENUES: | ||||||||||||||
Asset management revenue | $ | 57,633 | $ | 52,332 | $ | 45,806 | ||||||||
Structuring revenue | 22,506 | 28,197 | 33,675 | |||||||||||
Incentive, termination and subordinated disposition revenue from mergers | 46,018 | — | 53,588 | |||||||||||
Reimbursed costs from affiliates | 63,630 | 9,962 | 15,388 | |||||||||||
Lease revenues | 74,090 | 67,215 | 59,747 | |||||||||||
Other real estate income | 9,381 | 11,078 | 11,348 | |||||||||||
273,258 | 168,784 | 219,552 | ||||||||||||
OPERATING EXPENSES: | ||||||||||||||
General and administrative | (41,494 | ) | (45,219 | ) | (35,597 | ) | ||||||||
Reimbursable costs | (63,630 | ) | (9,962 | ) | (15,388 | ) | ||||||||
Depreciation and amortization | (26,048 | ) | (20,952 | ) | (21,173 | ) | ||||||||
Property expenses | (7,046 | ) | (6,932 | ) | (5,329 | ) | ||||||||
Impairment charges | (1,147 | ) | (5,704 | ) | (12,899 | ) | ||||||||
Other real estate expenses | (5,881 | ) | (6,327 | ) | (6,261 | ) | ||||||||
(145,246 | ) | (95,096 | ) | (96,647 | ) | |||||||||
OTHER INCOME AND EXPENSES: | ||||||||||||||
Other interest income | 3,433 | 3,511 | 3,092 | |||||||||||
Income from equity investments in real estate | 7,608 | 5,182 | 5,308 | |||||||||||
Minority interest in income in real estate | (812 | ) | (264 | ) | (1,499 | ) | ||||||||
Gain on foreign currency transactions and other gains, net | 12,943 | 1,305 | 1,222 | |||||||||||
Interest expense | (18,139 | ) | (16,787 | ) | (14,453 | ) | ||||||||
5,033 | (7,053 | ) | (6,330 | ) | ||||||||||
Income from continuing operations before income taxes | 133,045 | 66,635 | 116,575 | |||||||||||
Provision for income taxes | (45,491 | ) | (19,390 | ) | (50,983 | ) | ||||||||
Income from continuing operations | 87,554 | 47,245 | 65,592 | |||||||||||
DISCONTINUED OPERATIONS: | ||||||||||||||
(Loss) income from operations of discontinued properties | (1,346 | ) | 6,951 | 9,359 | ||||||||||
Gain on sale of real estate, net | 3,452 | 10,474 | 89 | |||||||||||
Impairment charges on assets held for sale | (3,357 | ) | (16,066 | ) | (9,199 | ) | ||||||||
(Loss) income from discontinued operations | (1,251 | ) | 1,359 | 249 | ||||||||||
NET INCOME | $ | 86,303 | $ | 48,604 | $ | 65,841 | ||||||||
BASIC EARNINGS PER SHARE: | ||||||||||||||
Income from continuing operations | $ | 2.32 | $ | 1.25 | $ | 1.75 | ||||||||
(Loss) income from discontinued operations | (0.03 | ) | 0.04 | 0.01 | ||||||||||
Net income | $ | 2.29 | $ | 1.29 | $ | 1.76 | ||||||||
DILUTED EARNINGS PER SHARE: | ||||||||||||||
Income from continuing operations | $ | 2.25 | $ | 1.21 | $ | 1.68 | ||||||||
(Loss) income from discontinued operations | (0.03 | ) | 0.04 | 0.01 | ||||||||||
Net income | $ | 2.22 | $ | 1.25 | $ | 1.69 | ||||||||
DISTRIBUTIONS DECLARED PER SHARE: | $ | 1.82 | $ | 1.79 | $ | 1.760 | ||||||||
WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||||||||||||
Basic | 37,668,920 | 37,688,835 | 37,417,918 | |||||||||||
Diluted | 39,093,897 | 39,020,801 | 38,961,748 | |||||||||||
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 Year | For the Year | For the Year | ||||||||||||
Ended | Ended | Ended | ||||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | ||||||||||||
Cash flows from operating activities: | ||||||||||||||
Net income | $ | 86,303 | $ | 48,604 | $ | 65,841 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Depreciation and amortization of intangible assets and deferred financing costs | 22,207 | 21,623 | 22,546 | |||||||||||
Income from equity investments in real estate in excess of distributions received | (160 | ) | 479 | (793 | ) | |||||||||
Gain on sale of real estate and investments, net | (14,774 | ) | (10,570 | ) | (90 | ) | ||||||||
Minority interest in income | 812 | 264 | 1,499 | |||||||||||
Recognition of deferred gain on completion of development project | — | (2,000 | ) | — | ||||||||||
Straight-line rent adjustments | 3,152 | 3,776 | 1,732 | |||||||||||
Management income received in shares of affiliates | (31,020 | ) | (31,858 | ) | (20,999 | ) | ||||||||
Costs paid by issuance of shares | — | 201 | 168 | |||||||||||
Unrealized (gain) loss on foreign currency transactions, warrants and securities | (1,128 | ) | 779 | (790 | ) | |||||||||
Impairment charges and loan losses | 4,504 | 21,770 | 22,098 | |||||||||||
Deferred income taxes | 1,620 | 1,549 | 8,827 | |||||||||||
Realized (gain) loss on foreign currency transactions | (488 | ) | 19 | (430 | ) | |||||||||
Increase (decrease) in accrued income taxes | 21,301 | (3,274 | ) | 2,099 | ||||||||||
Decrease in prepaid income taxes | 1,390 | — | — | |||||||||||
Tax charge — share incentive plan | — | 604 | 3,423 | |||||||||||
Increase in structuring revenue receivable | (3,459 | ) | (5,304 | ) | (14,860 | ) | ||||||||
Deferred acquisition fees received | 12,543 | 8,961 | 5,978 | |||||||||||
Stock-based compensation expense | 3,453 | 3,936 | 3,768 | |||||||||||
Net changes in other operating assets and liabilities | 8,684 | (6,852 | ) | (1,168 | ) | |||||||||
Net cash provided by operating activities | 119,940 | 52,707 | 98,849 | |||||||||||
Cash flows from investing activities: | ||||||||||||||
Distributions received from equity investments in real estate in excess of equity income | 13,286 | 6,164 | 6,933 | |||||||||||
Purchases of real estate and equity investments in real estate | (102,049 | ) | — | (115,522 | ) | |||||||||
Capital expenditures | (4,937 | ) | (2,975 | ) | (1,596 | ) | ||||||||
Payment of deferred acquisition revenue to an affiliate | (524 | ) | (524 | ) | (524 | ) | ||||||||
Purchase of investment | (150 | ) | (465 | ) | — | |||||||||
Loan to affiliate | (108,000 | ) | — | — | ||||||||||
Proceeds from repayment of loan to affiliate | 108,000 | — | — | |||||||||||
Proceeds from sales of property and investments | 50,053 | 45,542 | 6,548 | |||||||||||
Funds placed in escrow in connection with the sale of property and investments | (10,374 | ) | — | — | ||||||||||
Release of funds from escrow in connection with the sale of property | 10,134 | — | 7,185 | |||||||||||
Net cash provided by investing activities | (44,561 | ) | 47,742 | (96,976 | ) | |||||||||
Cash flows from financing activities: | ||||||||||||||
Distributions paid | (68,615 | ) | (67,004 | ) | (65,073 | ) | ||||||||
Contributions from minority interests | 2,345 | 1,539 | — | |||||||||||
Distributions to minority interests | (6,226 | ) | (355 | ) | (1,101 | ) | ||||||||
Scheduled payments of mortgage principal | (11,742 | ) | (9,229 | ) | (9,428 | ) | ||||||||
Proceeds from mortgages and credit facility | 174,501 | 121,764 | 170,000 | |||||||||||
Prepayments of mortgages principal and credit facility | (166,660 | ) | (151,893 | ) | (106,962 | ) | ||||||||
Release of funds from escrow in connection with the financing of properties | 4,031 | — | — | |||||||||||
Payment of financing costs | (1,601 | ) | (797 | ) | (1,238 | ) | ||||||||
Proceeds from issuance of shares | 8,660 | 4,400 | 6,649 | |||||||||||
Excess tax benefits associated with stock based compensation awards | 626 | — | — | |||||||||||
Repurchase and retirement of shares | (1,937 | ) | (2,206 | ) | (2,543 | ) | ||||||||
Net cash used in financing activities: | (66,618 | ) | (103,781 | ) | (9,696 | ) | ||||||||
Effect of exchange rate changes on cash | 333 | (369 | ) | 179 | ||||||||||
Net increase (decrease) in cash and cash equivalents | 9,094 | (3,701 | ) | (7,644 | ) | |||||||||
Cash and cash equivalents, beginning of year | 13,014 | 16,715 | 24,359 | |||||||||||
Cash and cash equivalents, end of year | $ | 22,108 | $ | 13,014 | $ | 16,715 | ||||||||
Ticker: WPC | www.wpcarey.com |
EXHIBIT D
W. P. CAREY & CO. LLC
Annual Reconciliation of Net Income to Funds from Operations
(in thousands, except share and per share amounts)
Annual Reconciliation of Net Income to Funds from Operations
(in thousands, except share and per share amounts)
For the Year | For the Year | For the Year | ||||||||||
Ended | Ended | Ended | ||||||||||
December 31, 2006 | December 31, 2005 | December 31, 2004 | ||||||||||
Net income | $ | 86,303 | $ | 48,604 | $ | 65,841 | ||||||
Gain on sale of real estate, net | (3,452 | ) | (12,474 | ) | (92 | ) | ||||||
FFO of equity investees in excess of equity income | 9,802 | 10,358 | 7,010 | |||||||||
Depreciation, amortization, deferred taxes and other non-cash charges | 29,022 | 27,094 | 39,113 | |||||||||
FFO applicable to minority investees in excess of minority income | (794 | ) | (602 | ) | (555 | ) | ||||||
Straight-line rents | 3,152 | 3,821 | 1,724 | |||||||||
Impairment charges and loan losses | 4,504 | 21,770 | 22,098 | |||||||||
Funds From Operations (FFO) | $ | 128,537 | $ | 98,571 | $ | 135,139 | ||||||
Weighted Average Shares Outstanding | ||||||||||||
Basic | 37,668,920 | 37,688,835 | 37,417,918 | |||||||||
Diluted | 39,093,897 | 39,020,801 | 38,961,748 | |||||||||
FFO per Share | ||||||||||||
Basic | $ | 3.41 | $ | 2.62 | $ | 3.61 | ||||||
Diluted | $ | 3.29 | $ | 2.53 | $ | 3.47 |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
W. P. CAREY & CO. LLC
Detailed Property Summary
December 31, 2006
Detailed Property Summary
December 31, 2006
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
Carrefour France, SAS(4) | Crepy en Valois, France | Warehouse/Distribution | Retail Trade | Europe | 109,696 | $ | 780,358 | 0.78 | % | INSEE(2) | December-11 | December-11 | ||||||||||||||
Carrefour France, SAS(4) | Crepy en Valois, France | Warehouse/Distribution | Retail Trade | Europe | 165,078 | 1,174,332 | 1.17 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Lens, France | Warehouse/Distribution | Retail Trade | Europe | 137,515 | 950,956 | 0.95 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Lens, France | Warehouse/Distribution | Retail Trade | Europe | 2,815 | 19,468 | 0.02 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Lens, France | Warehouse/Distribution | Retail Trade | Europe | 4,711 | 32,581 | 0.03 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Nîmes, France | Warehouse/Distribution | Retail Trade | Europe | 146,195 | 834,727 | 0.83 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Nîmes, France | Warehouse/Distribution | Retail Trade | Europe | 2,767 | 15,799 | 0.02 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Nîmes, France | Warehouse/Distribution | Retail Trade | Europe | 646 | 3,689 | 0.00 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 188,800 | 1,206,514 | 1.21 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 65,323 | 417,441 | 0.42 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 8,151 | 52,091 | 0.05 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Colomiers, France | Warehouse/Distribution | Retail Trade | Europe | 3,141 | 20,071 | 0.02 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Thuit Hebert, France | Warehouse/Distribution | Retail Trade | Europe | 116,966 | 600,379 | 0.60 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Thuit Hebert, France | Warehouse/Distribution | Retail Trade | Europe | 74,190 | 380,813 | 0.38 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Ploufragan, France | Warehouse/Distribution | Retail Trade | Europe | 132,820 | 727,814 | 0.73 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Cholet, France | Warehouse/Distribution | Retail Trade | Europe | 107,543 | 625,020 | 0.63 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Carrefour France, SAS(4) | Nîmes, France | Warehouse/Distribution | Retail Trade | Europe | 192,619 | 1,254,410 | 1.25 | % | INSEE(2) | November-12 | November-12 | |||||||||||||||
Carrefour France, SAS(4) Total | 1,458,976 | 9,096,463 | 9.10 | % | ||||||||||||||||||||||
Dr Pepper/Seven Up Bottling Group | Irving, TX | Industrial | Manufacturing | South | 459,497 | 2,841,153 | 2.84 | % | CPI | June-14 | June-14 | |||||||||||||||
Dr Pepper/Seven Up Bottling Group | Houston, TX | Industrial | Manufacturing | South | 262,450 | 1,842,584 | 1.84 | % | CPI | June-14 | June-14 | |||||||||||||||
Dr Pepper/Seven Up Bottling Group Total | 721,947 | 4,683,737 | 4.68 | % | ||||||||||||||||||||||
Detroit Diesel Corporation | Detroit, MI | Industrial | Manufacturing | Midwest | 2,730,750 | 4,634,253 | 4.63 | % | PPI | June-20 | June-30 | |||||||||||||||
Detroit Diesel Corporation Total | 2,730,750 | 4,634,253 | 4.63 | % | ||||||||||||||||||||||
Bouygues Telecom, S.A.(1) | Tours, France | Office | Information | Europe | 102,237 | 1,478,475 | 1.48 | % | INSEE(2) | September-09 | September-09 | |||||||||||||||
Bouygues Telecom, S.A.(3) | Illkirch-Graffenstaden, France | Office | Information | Europe | 80,729 | 2,507,844 | 2.51 | % | INSEE(2) | December-08 | July-13 | |||||||||||||||
Bouygues Telecom, S.A. Total | 182,966 | 3,986,319 | 3.99 | % | ||||||||||||||||||||||
Orbital Sciences Corporation | Chandler, AZ | Industrial | Manufacturing | West | 335,307 | 3,022,947 | 3.02 | % | CPI | September-09 | September-29 | |||||||||||||||
Orbital Sciences Corporation Total | 335,307 | 3,022,947 | 3.02 | % | ||||||||||||||||||||||
Federal Express Corporation (5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 686,632 | 0.69 | % | CPI | August-19 | November-29 | |||||||||||||||
Federal Express Corporation (5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 686,632 | 0.69 | % | CPI | August-19 | November-29 | |||||||||||||||
Federal Express Corporation (5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 686,632 | 0.69 | % | CPI | August-19 | November-29 | |||||||||||||||
Federal Express Corporation (5) | Collierville, TN | Office | Transportation and Warehousing | South | 39,038 | 686,632 | 0.69 | % | CPI | August-19 | November-29 | |||||||||||||||
Federal Express Corporation (5) | College Station, TX | Warehouse/Distribution | Transportation and Warehousing | South | 12,080 | 68,400 | 0.07 | % | Stated | April-07 | April-07 | |||||||||||||||
Federal Express Corporation (5) | Corpus Christi, TX | Warehouse/Distribution | Transportation and Warehousing | South | 30,212 | 201,037 | 0.20 | % | Stated | May-07 | May-12 | |||||||||||||||
Federal Express Corporation(5) Total | 198,444 | 3,015,965 | 3.02 | % | ||||||||||||||||||||||
Titan Corporation, The | San Diego, CA | Office | Manufacturing | West | 166,403 | 2,862,068 | 2.86 | % | CPI | July-12 | July-17 | |||||||||||||||
Titan Corporation, The Total | 166,403 | 2,862,068 | 2.86 | % | ||||||||||||||||||||||
America West Holdings Corporation(6) | Tempe, AZ | Office | Transportation and Warehousing | West | 167,913 | 2,837,889 | 2.84 | % | CPI | April-14 | November-29 | |||||||||||||||
America West Holdings Corporation (6)Total | 167,913 | 2,837,889 | 2.84 | % | ||||||||||||||||||||||
CheckFree Holdings, Inc. (7) | Norcross, GA | Office | Information | South | �� | 50,063 | 899,886 | 0.90 | % | CPI | December-15 | December-30 | ||||||||||||||
CheckFree Holdings, Inc. (7) | Norcross, GA | Office | Information | South | 34,150 | 763,523 | 0.76 | % | CPI | December-15 | December-30 | |||||||||||||||
CheckFree Holdings, Inc. (7) | Norcross, GA | Office | Information | South | 26,125 | 575,991 | 0.58 | % | CPI | December-15 | December-30 | |||||||||||||||
CheckFree Holdings, Inc. (7) | Norcross, GA | Land | Information | South | 1 | 62,368 | 0.06 | % | CPI | December-15 | December-30 | |||||||||||||||
CheckFree Holdings, Inc.(7) Total | 110,339 | 2,301,768 | 2.30 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
AutoZone, Inc. | Decatur, AL | Retail | Retail Trade | South | 5,400 | 44,620 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Bessemer, AL | Retail | Retail Trade | South | 5,400 | 32,158 | 0.03 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Phenix City, AL | Retail | Retail Trade | South | 5,400 | 44,620 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Mobile, AL | Retail | Retail Trade | South | 5,400 | 44,620 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Chickasaw, AL | Retail | Retail Trade | South | 5,400 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Montgomery, AL | Retail | Retail Trade | South | 5,400 | 43,414 | 0.04 | % | % 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 | 0.03 | % | % Sales | August-12 | August-37 | |||||||||||||||
AutoZone, Inc. | Jacksonville, FL | Retail | Retail Trade | South | 5,400 | 47,772 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Jacksonville, FL | Retail | Retail Trade | South | 5,400 | 54,379 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Columbus, GA | Retail | Retail Trade | South | 5,400 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Albany, GA | Retail | Retail Trade | South | 5,400 | 43,262 | 0.04 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Brunswick, GA | Retail | Retail Trade | South | 5,400 | 39,854 | 0.04 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Augusta, GA | Retail | Retail Trade | South | 5,400 | 34,138 | 0.03 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Macon, GA | Retail | Retail Trade | South | 5,400 | 49,503 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
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 | 0.04 | % | % 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 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | West Monroe, LA | Retail | Retail Trade | South | 5,400 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Baton Rouge, LA | Retail | Retail Trade | South | 5,400 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Lake Charles, LA | Retail | Retail Trade | South | 6,480 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Lake Charles, LA | Retail | Retail Trade | South | 6,480 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Baton Rouge, LA | Retail | Retail Trade | South | 6,600 | 21,567 | 0.02 | % | % Sales | March-09 | March-14 | |||||||||||||||
AutoZone, Inc. | Baton Rouge, LA | Retail | Retail Trade | South | 5,401 | 23,124 | 0.02 | % | % Sales | April-09 | April-09 | |||||||||||||||
AutoZone, Inc. | Hammond, LA | Retail | Retail Trade | South | 6,480 | 40,121 | 0.04 | % | % Sales | August-12 | December-37 | |||||||||||||||
AutoZone, Inc. | Maplewood, MO | Retail | Retail Trade | Midwest | 6,480 | 43,414 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Overland, MO | Retail | Retail Trade | Midwest | 6,480 | 43,414 | 0.04 | % | % 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 | 0.04 | % | % Sales | February-11 | February-26 | |||||||||||||||
AutoZone, Inc. | St. Peters, MO | Retail | Retail Trade | Midwest | 5,400 | 48,957 | 0.05 | % | % Sales | August-12 | December-37 | |||||||||||||||
AutoZone, Inc. | St. Peters, MO | Retail | Retail Trade | Midwest | 6,660 | 48,718 | 0.05 | % | % Sales | August-12 | December-37 | |||||||||||||||
AutoZone, Inc. | Gastonia, NC | Retail | Retail Trade | East | 5,400 | 52,149 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Charlotte, NC | Retail | Retail Trade | East | 5,400 | 42,283 | 0.04 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Statesville, NC | Retail | Retail Trade | East | 5,400 | 50,739 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Lenoir, NC | Retail | Retail Trade | East | 5,400 | 50,739 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Shelby, NC | Retail | Retail Trade | East | 6,660 | 30,807 | 0.03 | % | % Sales | August-12 | December-37 | |||||||||||||||
AutoZone, Inc. | Kannapolis, NC | Retail | Retail Trade | East | 6,408 | 24,069 | 0.02 | % | % Sales | October-10 | October-15 | |||||||||||||||
AutoZone, Inc. | Morgantown, NC | Retail | Retail Trade | East | 5,400 | 19,451 | 0.02 | % | % Sales | October-10 | October-10 | |||||||||||||||
AutoZone, Inc. | Albuquerque, NM | Retail | Retail Trade | West | 5,400 | 54,642 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Farmington, NM | Retail | Retail Trade | West | 5,400 | 41,479 | 0.04 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | Lexington, SC | Retail | Retail Trade | East | 5,400 | 50,079 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
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 | 0.02 | % | % Sales | May-09 | May-14 | |||||||||||||||
AutoZone, Inc. | Austin, TX | Retail | Retail Trade | South | 4,000 | 31,321 | 0.03 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Waco, TX | Retail | Retail Trade | South | 4,800 | 37,585 | 0.04 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Corpus Christi, TX | Retail | Retail Trade | South | 6,600 | 51,679 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Corpus Christi, TX | Retail | Retail Trade | South | 6,480 | 50,739 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Victoria, TX | Retail | Retail Trade | South | 6,480 | 50,739 | 0.05 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | San Antonio, TX | Retail | Retail Trade | South | 5,400 | 42,283 | 0.04 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Nederland, TX | Retail | Retail Trade | South | 4,000 | 31,321 | 0.03 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | West Orange, TX | Retail | Retail Trade | South | 4,000 | 31,321 | 0.03 | % | % Sales | January-11 | February-26 | |||||||||||||||
AutoZone, Inc. | Houston, TX | Retail | Retail Trade | South | 5,400 | 53,488 | 0.05 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. | San Antonio, TX | Retail | Retail Trade | South | 5,400 | 55,795 | 0.06 | % | % Sales | August-13 | December-38 | |||||||||||||||
AutoZone, Inc. Total | 302,230 | 2,216,594 | 2.22 | % | ||||||||||||||||||||||
Semacs SA(14) | Chatou, France | Other | Health Care and Social Assistance | Europe | 18,848 | 281,157 | 0.28 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14) | Poissy, France | Other | Health Care and Social Assistance | Europe | 18,792 | 307,515 | 0.31 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14) | Rosny sous Bois, France | Other | Health Care and Social Assistance | Europe | 16,693 | 260,509 | 0.26 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14) | Paris, France | Other | Health Care and Social Assistance | Europe | 18,927 | 395,376 | 0.40 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14) | Rueil Malmaison, France | Other | Health Care and Social Assistance | Europe | 18,197 | 372,093 | 0.37 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14) | Sarcelles, France | Other | Health Care and Social Assistance | Europe | 26,454 | 465,666 | 0.47 | % | INSEE(2) | June-10 | June-10 | |||||||||||||||
Semacs SA(14)Total | 117,911 | 2,082,316 | 2.08 | % | ||||||||||||||||||||||
BellSouth Telecommunications | Lafayette, LA | Office | Information | South | 66,846 | 1,351,150 | 1.35 | % | Stated | December-09 | December-39 | |||||||||||||||
BellSouth Entertainment, Inc. | Ft. Lauderdale, FL | Warehouse/Distribution | Information | South | 80,450 | 593,664 | 0.59 | % | Stated | June-09 | June-19 | |||||||||||||||
BellSouth Corporation Total | 147,296 | 1,944,814 | 1.94 | % | ||||||||||||||||||||||
Quebecor Printing USA | Doraville, GA | Industrial | Manufacturing | South | 432,559 | 1,940,625 | 1.94 | % | CPI | December-09 | December-34 | |||||||||||||||
Quebecor Printing USA Total | 432,559 | 1,940,625 | 1.94 | % | ||||||||||||||||||||||
Lucent Technologies, Inc. | Charlotte, NC | Industrial | Wholesale Trade | East | 568,670 | 1,918,333 | 1.92 | % | Fixed | March-07 | March-12 | |||||||||||||||
Lucent Technologies, Inc. Total | 568,670 | 1,918,333 | 1.92 | % | ||||||||||||||||||||||
Career Education Corporation (Brown Institute) | Mendota Heights, MN | Other | Educational Services | Midwest | 136,400 | 1,892,831 | 1.89 | % | Fixed | May-11 | May-19 | |||||||||||||||
Career Education Corporation (Brown Institute) Total | 136,400 | 1,892,831 | 1.89 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
Information Resources, Inc. (8) | Chicago, IL | Office | Professional, Scientific and Technical Services | Midwest | 30,797 | 683,141 | 0.68 | % | CPI | October-13 | October-23 | |||||||||||||||
Information Resources, Inc. (8) | Chicago, IL | Office | Professional, Scientific and Technical Services | Midwest | 53,195 | 1,179,801 | 1.18 | % | CPI | October-13 | October-15 | |||||||||||||||
Information Resources, Inc.(8) Total | 83,992 | 1,862,942 | 1.86 | % | ||||||||||||||||||||||
Sybron Dental Specialties, Inc. (Apogent Technologies, Inc) | Glendora, CA | Office | Manufacturing | West | 25,000 | 489,246 | 0.49 | % | CPI | December-18 | December-43 | |||||||||||||||
Sybron Dental Specialties, Inc. (Apogent Technologies, Inc) | Romulus, MI | Industrial | Manufacturing | Midwest | 220,000 | 1,281,052 | 1.28 | % | CPI | December-18 | December-43 | |||||||||||||||
Sybron Dental Specialties, Inc. (Apogent Technologies, Inc) Total | 245,000 | 1,770,298 | 1.77 | % | ||||||||||||||||||||||
Unisource Worldwide, Inc. | Anchorage, AK | Warehouse/Distribution | Wholesale Trade | West | 44,712 | 344,803 | 0.34 | % | Stated | December-09 | December-29 | |||||||||||||||
Unisource Worldwide, Inc. | Commerce, CA | Warehouse/Distribution | Wholesale Trade | West | 411,561 | 1,422,080 | 1.42 | % | Stated | April-10 | April-30 | |||||||||||||||
Unisource Worldwide, Inc. Total | 456,273 | 1,766,883 | 1.77 | % | ||||||||||||||||||||||
Brodart Company | Williamsport, PA | Industrial | Wholesale Trade | East | 309,030 | 1,015,205 | 1.02 | % | CPI | June-08 | June-28 | |||||||||||||||
Brodart Company | Williamsport, PA | Industrial | Wholesale Trade | East | 212,210 | 705,481 | 0.71 | % | CPI | June-08 | June-28 | |||||||||||||||
Brodart Company Total | 521,240 | 1,720,686 | 1.72 | % | ||||||||||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 260,160 | 1,192,284 | 1.19 | % | CPI | March-10 | March-35 | |||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 109,377 | 501,237 | 0.50 | % | CPI | March-10 | March-35 | |||||||||||||||
Fiskars, Inc. (aka enviroWorks) | Apopka, FL | Industrial | Manufacturing | South | 5,292 | 24,220 | 0.02 | % | CPI | March-10 | March-35 | |||||||||||||||
Fiskars, Inc. (aka enviroWorks) Total | 374,829 | 1,717,741 | 1.72 | % | ||||||||||||||||||||||
SICOR, Inc. | San Diego, CA | Office | Manufacturing | West | 35,951 | 835,705 | 0.84 | % | CPI | July-09 | July-49 | |||||||||||||||
SICOR, Inc. | San Diego, CA | Industrial | Manufacturing | West | 36,205 | 835,705 | 0.84 | % | CPI | July-09 | July-49 | |||||||||||||||
SICOR, Inc. Total | 72,156 | 1,671,410 | 1.67 | % | ||||||||||||||||||||||
Wal-Mart Stores, Inc. | West Mifflin, PA | Retail | Retail Trade | East | 121,053 | 1,017,233 | 1.02 | % | CPI | January-07 | January-37 | |||||||||||||||
Wal-Mart Stores, Inc. | Greenfield, IN | Warehouse/Distribution | Retail Trade | Midwest | 82,620 | 567,745 | 0.57 | % | None | January-10 | January-20 | |||||||||||||||
Wal-Mart Stores, Inc. Total | 203,673 | 1,584,978 | 1.58 | % | ||||||||||||||||||||||
CSS Industries, Inc. (Cleo, Inc) | Memphis, TN | Warehouse/Distribution | Manufacturing | South | 614,274 | 958,496 | 0.96 | % | CPI | December-10 | December-15 | |||||||||||||||
CSS Industries, Inc. (Cleo, Inc) | Memphis, TN | Warehouse/Distribution | Manufacturing | South | 391,896 | 611,504 | 0.61 | % | CPI | December-10 | December-15 | |||||||||||||||
CSS Industries, Inc. (Cleo, Inc) Total | 1,006,170 | 1,570,000 | 1.57 | % | ||||||||||||||||||||||
BE Aerospace, Inc. | Lenexa, KS | Industrial | Manufacturing | Midwest | 130,094 | 627,066 | 0.63 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Winston-Salem, NC | Warehouse/Distribution | Manufacturing | East | 90,800 | 252,185 | 0.25 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Winston-Salem, NC | Industrial | Manufacturing | East | 74,026 | 205,591 | 0.21 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Winston-Salem, NC | Industrial | Manufacturing | East | 50,200 | 139,424 | 0.14 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Winston-Salem, NC | Office | Manufacturing | East | 43,788 | 121,610 | 0.12 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Winston-Salem, NC | Industrial | Manufacturing | East | 15,402 | 42,778 | 0.04 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. | Dallas, TX | Industrial | Manufacturing | South | 22,680 | 119,441 | 0.12 | % | Stated | September-17 | September-37 | |||||||||||||||
BE Aerospace, Inc. Total | 426,990 | 1,508,095 | 1.51 | % | ||||||||||||||||||||||
Sprint Spectrum, L.P. | Rio Rancho, NM | Office | Information | West | 94,730 | 1,424,561 | 1.42 | % | Stated | May-11 | May-21 | |||||||||||||||
Sprint Spectrum, L.P. Total | 94,730 | 1,424,561 | 1.42 | % | ||||||||||||||||||||||
Lowe’s Home Improvement Warehouse | Bellevue, WA | Retail | Wholesale Trade | West | 143,352 | 1,391,554 | 1.39 | % | CPI & % Sales | August-18 | August-18 | |||||||||||||||
Lowe’s Home Improvement Warehouse Total | 143,352 | 1,391,554 | 1.39 | % | ||||||||||||||||||||||
Amerisure Mutual Insurance Co. | Charleston, SC | Office | Finance and Insurance | East | 67,160 | 729,195 | 0.73 | % | None | December-07 | December-28 | |||||||||||||||
Amerisure Mutual Insurance Co. | Charleston, SC | Office | Finance and Insurance | East | 22,557 | 246,235 | 0.25 | % | None | December-07 | December-28 | |||||||||||||||
Amerisure Mutual Insurance Co. | Charleston, SC | Office | Finance and Insurance | East | 38,037 | 406,826 | 0.41 | % | None | December-07 | December-28 | |||||||||||||||
Amerisure Mutual Insurance Co. Total | 127,754 | 1,382,256 | 1.38 | % | ||||||||||||||||||||||
AT&T Corporation | Bridgeton, MO | Industrial | Information | Midwest | 85,510 | 1,257,410 | 1.26 | % | Stated | September-11 | June-21 | |||||||||||||||
AT&T Corporation Total | 85,510 | 1,257,410 | 1.26 | % | ||||||||||||||||||||||
Livho Inc. (Holiday Inn) | Livonia, MI | Hospitality | Accomodation and Food Services | Midwest | 158,000 | 1,200,000 | 1.20 | % | Stated | January-07 | January-08 | |||||||||||||||
Livho Inc. Total | 158,000 | 1,200,000 | 1.20 | % | ||||||||||||||||||||||
Omnicom Group, Inc. | Venice, CA | Office | Professional, Scientific and Technical Services | West | 77,719 | 1,193,661 | 1.19 | % | Stated | September-10 | September-30 | |||||||||||||||
Omnicom Group, Inc. Total | 77,719 | 1,193,661 | 1.19 | % | ||||||||||||||||||||||
United States Postal Service (Bloomington, IL) | Bloomingdale, IL | Office | Transportation and Warehousing | Midwest | 60,000 | 1,170,000 | 1.17 | % | Stated | April-11 | April-11 | |||||||||||||||
United States Postal Service (Bloomington, IL) Total | 60,000 | 1,170,000 | 1.17 | % | ||||||||||||||||||||||
Hologic, Inc. (9) | Danbury, CT | Industrial | Manufacturing | East | 22,335 | 210,526 | 0.21 | % | CPI | August-22 | August-42 | |||||||||||||||
Hologic, Inc. (9) | Bedford, MA | Industrial | Manufacturing | East | 74,520 | 925,612 | 0.93 | % | CPI | August-22 | August-42 | |||||||||||||||
Hologic, Inc.(9) Total | 96,855 | 1,136,138 | 1.14 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
Anthony’s Manufacturing Company, Inc. | San Fernando, CA | Industrial | Wholesale Trade | West | 7,220 | �� | 43,127 | 0.04 | % | CPI/Market | May-12 | May-12 | ||||||||||||||
Anthony’s Manufacturing Company, Inc. | San Fernando, CA | Industrial | Wholesale Trade | West | 40,285 | 240,527 | 0.24 | % | CPI/Market | May-12 | May-12 | |||||||||||||||
Anthony’s Manufacturing Company, Inc. | San Fernando, CA | Industrial | Wholesale Trade | West | 39,920 | 238,343 | 0.24 | % | CPI/Market | May-12 | May-12 | |||||||||||||||
Anthony’s Manufacturing Company, Inc. | San Fernando, CA | Industrial | Wholesale Trade | West | 95,420 | 569,819 | 0.57 | % | CPI/Market | May-12 | May-12 | |||||||||||||||
Anthony’s Manufacturing Company, Inc. Total | 182,845 | 1,091,816 | 1.09 | % | ||||||||||||||||||||||
United Space Alliance LLC | Webster, TX | Warehouse/Distribution | Professional, Scientific and Technical Services | South | 91,800 | 572,832 | 0.57 | % | Stated | September-10 | September-12 | |||||||||||||||
United Space Alliance LLC | Webster, TX | Industrial | Professional, Scientific and Technical Services | South | 38,150 | 381,500 | 0.38 | % | None | April-07 | April-11 | |||||||||||||||
United Space Alliance LLC | Webster, TX | Industrial | Professional, Scientific and Technical Services | South | 7,151 | 71,508 | 0.07 | % | None | April-07 | April-11 | |||||||||||||||
United Space Alliance LLC | Webster, TX | Industrial | Professional, Scientific and Technical Services | South | 6,104 | 61,040 | 0.06 | % | None | April-07 | April-11 | |||||||||||||||
United Space Alliance LLC Total | 143,205 | 1,086,880 | 1.09 | % | ||||||||||||||||||||||
Lockheed Martin Corporation | King of Prussia, PA | Office | Professional, Scientific and Technical Services | East | 88,578 | 819,347 | 0.82 | % | Stated | July-08 | July-08 | |||||||||||||||
Lockheed Martin Corporation | Webster, TX | Industrial | Professional, Scientific and Technical Services | South | 30,176 | 241,416 | 0.24 | % | Stated | December-07 | December-07 | |||||||||||||||
Lockheed Martin Corporation Total | 118,754 | 1,060,763 | 1.06 | % | ||||||||||||||||||||||
Werner Co. | Erlanger, KY | Warehouse/Distribution | Manufacturing | East | 409,600 | 762,048 | 0.76 | % | CPI | July-15 | July-21 | |||||||||||||||
Werner Co. | Erlanger, KY | Warehouse/Distribution | Manufacturing | East | 162,604 | 274,365 | 0.27 | % | CPI | July-15 | July-21 | |||||||||||||||
Werner Co. Total | 572,204 | 1,036,413 | 1.04 | % | ||||||||||||||||||||||
United Stationers Supply Company | New Orleans, LA | Warehouse/Distribution | Wholesale Trade | South | 59,000 | 366,539 | 0.37 | % | CPI | March-10 | March-30 | |||||||||||||||
United Stationers Supply Company | Memphis, TN | Warehouse/Distribution | Wholesale Trade | South | 75,000 | 317,385 | 0.32 | % | CPI | March-10 | March-30 | |||||||||||||||
United Stationers Supply Company | San Antonio, TX | Warehouse/Distribution | Wholesale Trade | South | 63,098 | 350,913 | 0.35 | % | CPI | March-10 | March-30 | |||||||||||||||
United Stationers Supply Company Total | 197,098 | 1,034,837 | 1.03 | % | ||||||||||||||||||||||
Cree Microwave, LLC | Sunnyvale, CA | Industrial | Manufacturing | West | 50,311 | 1,026,297 | 1.03 | % | CPI | November-11 | November-26 | |||||||||||||||
Cree Microwave, LLC Total | 50,311 | 1,026,297 | 1.03 | % | ||||||||||||||||||||||
GATX Logistics, Inc. (aka Sears logistics services) | Jacksonville, FL | Warehouse/Distribution | Wholesale Trade | South | 240,000 | 969,946 | 0.97 | % | None | February-08 | February-08 | |||||||||||||||
GATX Logistics, Inc. (aka Sears logistics services) Total | 240,000 | 969,946 | 0.97 | % | ||||||||||||||||||||||
Swat-Fame, Inc. (City of Industry, CA) | City of Industry, CA | Industrial | Manufacturing | West | 233,205 | 949,663 | 0.95 | % | CPI | December-10 | December-20 | |||||||||||||||
Swat-Fame, Inc. (City of Industry, CA) Total | 233,205 | 949,663 | 0.95 | % | ||||||||||||||||||||||
Consolidated Systems, Inc.(13) | Columbia, SC | Office | Manufacturing | East | 24,459 | 68,424 | 0.07 | % | Fixed | October-26 | October-46 | |||||||||||||||
Consolidated Systems, Inc.(13) | Columbia, SC | Industrial | Manufacturing | East | 294,249 | 823,165 | 0.82 | % | Fixed | October-26 | October-46 | |||||||||||||||
Consolidated Systems, Inc.(13) | Columbia, SC | Warehouse/Distribution | Manufacturing | East | 13,792 | 38,582 | 0.04 | % | Fixed | October-26 | October-46 | |||||||||||||||
Consolidated Systems, Inc.(13) | Columbia, SC | Warehouse/Distribution | Manufacturing | East | 6,266 | 17,529 | 0.02 | % | Fixed | October-26 | October-46 | |||||||||||||||
Consolidated Systems, Inc.(13) Total | 338,766 | 947,700 | 0.95 | % | ||||||||||||||||||||||
Pre Finish Metals, Inc. | Walbridge, OH | Industrial | Manufacturing | Midwest | 313,704 | 892,091 | 0.89 | % | CPI | June-08 | June-28 | |||||||||||||||
Pre Finish Metals, Inc. Total | 313,704 | 892,091 | 0.89 | % | ||||||||||||||||||||||
24 Hour Fitness | Austin, TX | Other | Arts, Entertainment & Recreation | South | 43,935 | 850,484 | 0.85 | % | CPI | June-17 | June-33 | |||||||||||||||
24 Hour Fitness Total | 43,935 | 850,484 | 0.85 | % | ||||||||||||||||||||||
Pharmaco International, Inc. | Austin, TX | Industrial | Professional, Scientific and Technical Services | South | 65,160 | 582,071 | 0.58 | % | CPI | November-10 | November-30 | |||||||||||||||
Pharmaco International, Inc. | Austin, TX | Office | Professional, Scientific and Technical Services | South | 8,500 | 84,203 | 0.08 | % | CPI | November-10 | November-30 | |||||||||||||||
Pharmaco International, Inc. | Austin, TX | Office | Professional, Scientific and Technical Services | South | 8,525 | 84,464 | 0.08 | % | CPI | November-10 | November-30 | |||||||||||||||
Pharmaco International, Inc. | Austin, TX | Office | Professional, Scientific and Technical Services | South | 8,500 | 84,203 | 0.08 | % | CPI | November-10 | November-30 | |||||||||||||||
Pharmaco International, Inc. Total | 90,685 | 834,941 | 0.83 | % | ||||||||||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) | Thurmont, MD | Industrial | Construction | East | 150,468 | 687,992 | 0.69 | % | CPI | March-14 | March-30 | |||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) | Farmington, NY | Industrial | Construction | East | 29,273 | 132,805 | 0.13 | % | CPI | March-14 | March-30 | |||||||||||||||
NVR L.P. (aka NV Ryan, Inc.) Total | 179,741 | 820,797 | 0.82 | % | ||||||||||||||||||||||
Hibbett Sporting Goods, Inc. | Birmingham, AL | Warehouse/Distribution | Retail Trade | South | 219,312 | 819,935 | 0.82 | % | CPI | December-14 | December-29 | |||||||||||||||
Hibbett Sporting Goods, Inc. Total | 219,312 | 819,935 | 0.82 | % | ||||||||||||||||||||||
AMS Holding Group (Vertafore, Inc.) | College Station, TX | Office | Information | South | 52,552 | 765,101 | 0.77 | % | Stated | December-09 | December-15 | |||||||||||||||
AMS Holding Group (Vertafore, Inc.) Total | 52,552 | 765,101 | 0.77 | % | ||||||||||||||||||||||
Western Union Financial Services, Inc. | Bridgeton, MO | Office | Finance and Insurance | Midwest | 78,080 | 624,640 | 0.62 | % | Stated | November-16 | November-26 | |||||||||||||||
Western Union Financial Services, Inc. Total | 78,080 | 624,640 | 0.62 | % | ||||||||||||||||||||||
Aviva France (fka Tellit Assurances — Sun Alliance) (3) | Rouen, France | Office | Finance and Insurance | Europe | 27,593 | 604,729 | 0.60 | % | INSEE(2) | September-10 | September-10 | |||||||||||||||
Aviva France (fka Tellit Assurances — Sun Alliance)(3)Total | 27,593 | 604,729 | 0.60 | % | ||||||||||||||||||||||
Deloro Stellite (DS) Group Ltd. Total | Goshen, IN | Industrial | Manufacturing | Midwest | 52,000 | 563,715 | 0.56 | % | CPI | February-10 | February-35 | |||||||||||||||
Deloro Stellite (DS) Group Ltd. Total Total | 52,000 | 563,715 | 0.56 | % | ||||||||||||||||||||||
Yale Security, Inc. | Lemont, IL | Industrial | Manufacturing | Midwest | 113,133 | 519,000 | 0.52 | % | Stated | March-11 | March-11 | |||||||||||||||
Yale Security, Inc. Total | 113,133 | 519,000 | 0.52 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
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 | 0.05 | % | 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 | 0.05 | % | 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) | Canton, MI | Other Properties | Health Care and Social Assistance | Midwest | 2,311 | 47,797 | 0.05 | % | CPI | January-16 | January-41 | |||||||||||||||
Childtime Childcare, Inc. (10) | Westland, MI | Other Properties | Health Care and Social Assistance | Midwest | 2,787 | 34,583 | 0.03 | % | 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 | 0.52 | % | ||||||||||||||||||||||
ALCOA Inc | Salisbury, NC | Warehouse/Distribution | Manufacturing | East | 200,000 | 471,082 | 0.47 | % | Stated | June-10 | June-20 | |||||||||||||||
ALCOA Inc Total | 200,000 | 471,082 | 0.47 | % | ||||||||||||||||||||||
Jada Toys, Inc. | City of Industry, CA | Industrial | Manufacturing | West | 92,595 | 444,000 | 0.44 | % | None | April-12 | April-17 | |||||||||||||||
Jada Toys, Inc. Total | 92,595 | 444,000 | 0.44 | % | ||||||||||||||||||||||
Alstom Power Inc. | Erlanger, KY | Warehouse/Distribution | Professional, Scientific and Technical Services | East | 197,400 | 443,370 | 0.44 | % | Stated | May-13 | May-13 | |||||||||||||||
Alstom Power Inc. Total | 197,400 | 443,370 | 0.44 | % | ||||||||||||||||||||||
Laboratoires Nycomed Amersham (3) | Paris, France | Office | Manufacturing | Europe | 15,404 | 423,706 | 0.42 | % | INSEE(2) | January-10 | June-15 | |||||||||||||||
Laboratoires Nycomed Amersham(3)Total | 15,404 | 423,706 | 0.42 | % | ||||||||||||||||||||||
Affiliated Foods Southwest, Inc. | Hope, AR | Retail | Retail Trade | South | 35,784 | 85,882 | 0.09 | % | CPI | March-12 | March-37 | |||||||||||||||
Affiliated Foods Southwest, Inc. | Little Rock, AR | Retail | Retail Trade | South | 21,932 | 34,745 | 0.03 | % | CPI | March-12 | March-22 | |||||||||||||||
Affiliated Foods Southwest, Inc. | Little Rock, AR | Retail | Retail Trade | South | 64,358 | 295,611 | 0.30 | % | Fixed | January-09 | January-24 | |||||||||||||||
Affiliated Foods Southwest, Inc. Total | 122,074 | 416,238 | 0.42 | % | ||||||||||||||||||||||
Kmart Corporation | Citrus Heights, CA | Retail | Retail Trade | West | 89,760 | 180,000 | 0.18 | % | None | May-11 | May-26 | |||||||||||||||
Kmart Corporation | Drayton Plains, MI | Retail | Retail Trade | Midwest | 103,018 | 210,000 | 0.21 | % | None | March-11 | March-26 | |||||||||||||||
Kmart Corporation Total | 192,778 | 390,000 | 0.39 | % | ||||||||||||||||||||||
The Retail Distribution Group | Grand Rapids, MI | Warehouse/Distribution | Wholesale Trade | Midwest | 71,784 | 371,884 | 0.37 | % | Fixed | August-09 | August-13 | |||||||||||||||
The Retail Distribution Group Total | 71,784 | 371,884 | 0.37 | % | ||||||||||||||||||||||
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.) | Beaumont, TX | Office | Professional, Scientific and Technical Services | South | 34,300 | 296,352 | 0.30 | % | Stated | December-11 | December-14 | |||||||||||||||
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.) | Beaumont, TX | Office | Professional, Scientific and Technical Services | South | 8,580 | 74,217 | 0.07 | % | Stated | December-11 | December-14 | |||||||||||||||
Industrial Data Systems Corp. (aka Petrocon Engineering, Inc.) Total | 42,880 | 370,569 | 0.37 | % | ||||||||||||||||||||||
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.) | Toledo, OH | Office | Manufacturing | Midwest | 61,000 | 336,000 | 0.34 | % | CPI | November-22 | November-22 | |||||||||||||||
Faurecia Exhaust Systems, Inc. (fka AP Parts Manufacturing, Co.) Total | 61,000 | 336,000 | 0.34 | % | ||||||||||||||||||||||
Pioneer Credit Recovery, Inc. | Moorestown, NJ | Office | Administrative and Support and Waste Management and Remediation Services | East | 30,000 | 330,000 | 0.33 | % | Fixed | April-12 | April-18 | |||||||||||||||
Pioneer Credit Recovery, Inc. Total | 30,000 | 330,000 | 0.33 | % | ||||||||||||||||||||||
Direction Regional des Affaires Sanitaires et Sociales(DRASS)(3) | Rouen, France | Office | Public Administration | Europe | 19,214 | 294,086 | 0.29 | % | INSEE(2) | December-13 | December-13 | |||||||||||||||
Direction Regional des Affaires Sanitaires et Sociales(3)Total | 19,214 | 294,086 | 0.29 | % | ||||||||||||||||||||||
SARL S3T (11) | Joue Les Tours, France | Warehouse/Distribution | Information | Europe | 55,594 | 292,856 | 0.29 | % | INSEE(2) | May-08 | May-08 | |||||||||||||||
SARL S3T(11) Total | 55,594 | 292,856 | 0.29 | % | ||||||||||||||||||||||
S&ME, Inc. | Raleigh, NC | Office | Professional, Scientific and Technical Services | East | 27,770 | 291,204 | 0.29 | % | Stated | July-16 | July-26 | |||||||||||||||
S&ME, Inc. Total | 27,770 | 291,204 | 0.29 | % | ||||||||||||||||||||||
Roof Center, Inc., The | Manassas, VA | Industrial | Wholesale Trade | East | 60,446 | 285,115 | 0.29 | % | Fixed | July-09 | July-09 | |||||||||||||||
Roof Center, Inc., The Total | 60,446 | 285,115 | 0.29 | % | ||||||||||||||||||||||
DSM Food Specialties (11) | Phalempin, France | Warehouse/Distribution | Wholesale Trade | Europe | 29,870 | 279,586 | 0.28 | % | INSEE(2) | May-08 | May-08 | |||||||||||||||
DSM Food Specialties(11) Total | 29,870 | 279,586 | 0.28 | % | ||||||||||||||||||||||
Winn-Dixie, Inc. | Montgomery, AL | Retail | Retail Trade | South | 32,690 | 138,933 | 0.14 | % | None | March-08 | March-38 | |||||||||||||||
Winn-Dixie, Inc. | Brewton, AL | Retail | Retail Trade | South | 30,625 | 134,500 | 0.13 | % | None | October-10 | October-30 | |||||||||||||||
Winn-Dixie, Inc. Total | 63,315 | 273,433 | 0.27 | % | ||||||||||||||||||||||
US WEST Communications, Inc. (Qwest Communications) | Scottsdale, AZ | Industrial | Information | West | 2,900 | 175,735 | 0.18 | % | Fixed | February-07 | February-17 | |||||||||||||||
US WEST Communications, Inc. (Qwest Communications) | Scottsdale, AZ | Industrial | Information | West | 1,560 | 94,535 | 0.09 | % | Fixed | February-07 | February-17 | |||||||||||||||
US WEST Communications, Inc. (Qwest Communications) Total | 4,460 | 270,270 | 0.27 | % | ||||||||||||||||||||||
Penberthy Products, Inc. | Prophetstown, IL | Industrial | Manufacturing | Midwest | 161,878 | 268,890 | 0.27 | % | CPI | April-11 | April-26 | |||||||||||||||
Penberthy Products, Inc. Total | 161,878 | 268,890 | 0.27 | % | ||||||||||||||||||||||
Honeywell, Inc. | Houston, TX | Land | Manufacturing | South | 1 | 36,000 | 0.04 | % | None | September-10 | September-10 | |||||||||||||||
Honeywell, Inc. | Houston, TX | Warehouse/Distribution | Manufacturing | South | 32,320 | 228,828 | 0.23 | % | None | September-10 | September-10 | |||||||||||||||
Honeywell, Inc. Total | 32,321 | 264,828 | 0.26 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
Northern Tube, Inc. (Tubular Metal Systems) | Pinconning, MI | Industrial | Manufacturing | Midwest | 220,588 | 254,538 | 0.25 | % | CPI | July-13 | December-22 | |||||||||||||||
Northern Tube, Inc. Total | 220,588 | 254,538 | 0.25 | % | ||||||||||||||||||||||
Department de Seine St. Denis(3) | Paris, France | Office | Public Administration | Europe | 8,451 | 244,901 | 0.24 | % | INSEE(2) | December-11 | December-11 | |||||||||||||||
Department de Seine St. Denis (3) Total | 8,451 | 244,901 | 0.24 | % | ||||||||||||||||||||||
La Region Ile de France(3) | Paris, France | Office | Public Administration | Europe | 7,613 | 221,517 | 0.22 | % | INSEE(2) | October-12 | October-12 | |||||||||||||||
La Region Ile de France(3) Total | 7,613 | 221,517 | 0.22 | % | ||||||||||||||||||||||
Ace Hardware (Bay Area Blvd, Houston TX) | Houston, TX | Retail | Retail Trade | South | 23,569 | 212,121 | 0.21 | % | Stated | March-16 | March-26 | |||||||||||||||
Ace Hardware (Bay Area Blvd, Houston TX) Total | 23,569 | 212,121 | 0.21 | % | ||||||||||||||||||||||
GIE Groupe Vauban(3) | Paris, France | Office | Finance and Insurance | Europe | 7,613 | 211,919 | 0.21 | % | INSEE(2) | September-12 | September-12 | |||||||||||||||
GIE Groupe Vauban(3) Total | 7,613 | 211,919 | 0.21 | % | ||||||||||||||||||||||
Verizon Communications, Inc. | Milton, VT | Industrial | Information | East | 30,624 | 208,467 | 0.21 | % | Fixed | February-13 | February-13 | |||||||||||||||
Verizon Communications, Inc. Total | 30,624 | 208,467 | 0.21 | % | ||||||||||||||||||||||
Xerox Corporation | Hot Springs, AR | Retail | Manufacturing | South | 36,850 | 171,721 | 0.17 | % | Fixed | May-11 | May-21 | |||||||||||||||
Xerox Corporation Total | 36,850 | 171,721 | 0.17 | % | ||||||||||||||||||||||
Continental Airlines, Inc. | Houston, TX | Warehouse/Distribution | Transportation and Warehousing | South | 25,125 | 157,200 | 0.16 | % | Fixed | July-08 | July-08 | |||||||||||||||
Continental Airlines, Inc. Total | 25,125 | 157,200 | 0.16 | % | ||||||||||||||||||||||
Golder Associates Inc. | Houston, TX | Office | Professional, Scientific and Technical Services | South | 3,330 | 30,768 | 0.03 | % | Fixed | October-10 | October-20 | |||||||||||||||
Golder Associates Inc. | Houston, TX | Office | Professional, Scientific and Technical Services | South | 8,066 | 72,600 | 0.07 | % | None | October-10 | October-20 | |||||||||||||||
Golder Associates Inc. Total | 11,396 | 103,368 | 0.10 | % | ||||||||||||||||||||||
Custom Training Group | Houston, TX | Office | Educational Services | South | 4,456 | 41,172 | 0.04 | % | Fixed | December-08 | December-08 | |||||||||||||||
Custom Training Group | Houston, TX | Office | Educational Services | South | 7,248 | 59,400 | 0.06 | % | Fixed | December-08 | December-11 | |||||||||||||||
Custom Training Group Total | 11,704 | 100,572 | 0.10 | % | ||||||||||||||||||||||
L’Agence Nationale Pour L’Emploi (ANPE) (3) | Paris, France | Office | Public Administration | Europe | 3,633 | 82,276 | 0.08 | % | INSEE(2) | June-07 | June-15 | |||||||||||||||
L’Agence Nationale Pour L’Emploi(3)Total | 3,633 | 82,276 | 0.08 | % | ||||||||||||||||||||||
Richard Millburn Academy | Houston, TX | Office | Educational Services | South | 7,860 | 80,220 | 0.08 | % | Stated | September-08 | September-13 | |||||||||||||||
Richard Millburn Academy Total | 7,860 | 80,220 | 0.08 | % | ||||||||||||||||||||||
Bike Barn Holding Company, Inc. (Bay Area Blvd, Houston, TX) | Houston, TX | Retail | Retail Trade | South | 6,216 | 71,280 | 0.07 | % | Stated | August-10 | August-15 | |||||||||||||||
Bike Barn Holding Company, Inc. Total | 6,216 | 71,280 | 0.07 | % | ||||||||||||||||||||||
The Boeing Company | Houston, TX | Warehouse/Distribution | Manufacturing | South | 10,960 | 71,040 | 0.07 | % | Fixed | January-09 | January-13 | |||||||||||||||
The Boeing Company Total | 10,960 | 71,040 | 0.07 | % | ||||||||||||||||||||||
Kenyon International Emergency Services (Pepsi) | Houston, TX | Warehouse/Distribution | Health Care and Social Assistance | South | 17,725 | 70,014 | 0.07 | % | None | October-09 | October-19 | |||||||||||||||
Kenyon International Emergency Services (Pepsi) Total | 17,725 | 70,014 | 0.07 | % | ||||||||||||||||||||||
AFPOLS (3) | Paris, France | Office | Public Administration | Europe | 3,488 | 69,373 | 0.07 | % | INSEE(2) | June-08 | June-08 | |||||||||||||||
AFPOLS(3) Total | 3,488 | 69,373 | 0.07 | % | ||||||||||||||||||||||
Raytheon Company | Webster, TX | Industrial | Professional, Scientific and Technical Services | South | 9,138 | 65,796 | 0.07 | % | Fixed | July-10 | July-25 | |||||||||||||||
Raytheon Company Total | 9,138 | 65,796 | 0.07 | % | ||||||||||||||||||||||
Trans American Automation Inc. | Houston, TX | Office | Manufacturing | South | 5,632 | 48,660 | 0.05 | % | Fixed | February-07 | February-07 | |||||||||||||||
Trans American Automation Inc. Total | 5,632 | 48,660 | 0.05 | % | ||||||||||||||||||||||
Olmsted Kirk Paper Company (Beaumont, TX) | Beaumont, TX | Office | Wholesale Trade | South | 5,760 | 41,305 | 0.04 | % | Stated | December-07 | December-07 | |||||||||||||||
Olmsted Kirk Paper Company (Beaumont, TX) Total | 5,760 | 41,305 | 0.04 | % | ||||||||||||||||||||||
Cardinal Communications | Broomfield, CO | Office | Construction | West | 9,401 | 28,203 | 0.03 | % | None | October-07 | October-08 | |||||||||||||||
Cardinal Communications Total | 9,401 | 28,203 | 0.03 | % | ||||||||||||||||||||||
G.T. of the Front Range | Broomfield, CO | Office | Retail Trade | West | 5,488 | 20,580 | 0.02 | % | Stated | June-11 | June-11 | |||||||||||||||
G.T. of the Front Range Total | 5,488 | 20,580 | 0.02 | % | ||||||||||||||||||||||
CGEC Keter | Paris, France | Office | Real Estate and Rental and Leasing | Europe | 2,301 | 14,853 | 0.01 | % | INSEE(2) | December-14 | December-14 | |||||||||||||||
CGEC Keter Total | 2,301 | 14,853 | 0.01 | % | ||||||||||||||||||||||
Marathon System Service | Broomfield, CO | Office | Information | West | 2,283 | 14,680 | 0.01 | % | None | November-07 | November-07 | |||||||||||||||
Marathon System Service Total | 2,283 | 14,680 | 0.01 | % | ||||||||||||||||||||||
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 | % | Fixed | May-09 | May-09 | |||||||||||||||
Appointment Quest Total | 1,670 | 12,024 | 0.01 | % |
Ticker: WPC | www.wpcarey.com |
EXHIBIT E
Square | Percentage of | Increase | Lease | Maximum | ||||||||||||||||||||||
Tenant/Lease Guarantor | Property Location | Property Type | Tenant Type | Region | Footage | Annualized Rent | Total Rent | Factor | Expiration | Term | ||||||||||||||||
Red Cloud Telecom Products, Inc.(12) | Broomfield, CO | Office | Information | West | 2,093 | 12,000 | 0.01 | % | Fixed | N/A | N/A | |||||||||||||||
Red Cloud Telecom Products, Inc. Total(12) | 2,093 | 12,000 | 0.01 | % | ||||||||||||||||||||||
Abilis(3) | Paris, France | Office | Other Services (except Public Administration) | Europe | 0 | 10,855 | 0.01 | % | INSEE(2) | February-07 | January-08 | |||||||||||||||
Abilis(3) Total | 0 | 10,855 | 0.01 | % | ||||||||||||||||||||||
Aardvark IT Solutions | Broomfield, CO | Office | Professional, Scientific and Technical Services | West | 3,069 | 10,742 | 0.01 | % | None | April-08 | N/A | |||||||||||||||
Aardvark IT Solutions Total | 3,069 | 10,742 | 0.01 | % | ||||||||||||||||||||||
Ass Comite Dept du Tourisme(3) | Paris, France | Office | Public Administration | Europe | 0 | 10,243 | 0.01 | % | INSEE(2) | June-07 | June-07 | |||||||||||||||
Ass Comite Dept du Tourisme(3) Total | 0 | 10,243 | 0.01 | % | ||||||||||||||||||||||
Rhino Linings | Broomfield, CO | Office | Retail Trade | West | 2,532 | 9,849 | 0.01 | % | Fixed | June-08 | June-08 | |||||||||||||||
Rhino Linings Total | 2,532 | 9,849 | 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 | Professional, Scientific and Technical Services | 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(12) | Broomfield, CO | Office | Information | West | 730 | 8,208 | 0.01 | % | Fixed | N/A | N/A | |||||||||||||||
AT&T Wireless Service Total(12) | 730 | 8,208 | 0.01 | % | ||||||||||||||||||||||
Remote Access Diagnostic Radiography | Broomfield, CO | Office | Health Care and Social Assistance | West | 2,093 | 7,765 | 0.01 | % | Fixed | October-06 | October-06 | |||||||||||||||
Remote Access Diagnostic Radiography Total | 2,093 | 7,765 | 0.01 | % | ||||||||||||||||||||||
Orange(3) | Paris, France | Office | Information | Europe | 0 | 7,765 | 0.01 | % | None | June-15 | N/A | |||||||||||||||
Orange(3)Total | 0 | 7,765 | 0.01 | % | ||||||||||||||||||||||
EarthRoamer.com | Broomfield, CO | Office | Manufacturing | West | 7,500 | 7,500 | 0.01 | % | None | April-07 | April-07 | |||||||||||||||
EarthRoamer.com Total | 7,500 | 7,500 | 0.01 | % | ||||||||||||||||||||||
Photo Center(12) | Hot Springs, AR | Retail | Manufacturing | South | 340 | 4,800 | 0.00 | % | None | N/A | N/A | |||||||||||||||
Photo Center(12) Total | 340 | 4,800 | 0.00 | % | ||||||||||||||||||||||
Byron Jacquot(12) | Broomfield, CO | Office | Arts, Entertainment & Recreation | West | 1,105 | 3,978 | 0.00 | % | None | N/A | N/A | |||||||||||||||
Byron Jacquot Total (12) | 1,105 | 3,978 | 0.00 | % | ||||||||||||||||||||||
DLH Management Corporation | Broomfield, CO | Office | Construction | 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 | Construction | West | 1,200 | 1,200 | 0.00 | % | None | December-06 | December-06 | |||||||||||||||
Tempered Air Services, Inc. Total | 1,200 | 1,200 | 0.00 | % | ||||||||||||||||||||||
Vacant | Houston, TX | Office | N/A | South | 5,742 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Bloomingdale, IL | Office | N/A | Midwest | 14,084 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Travelers Rest, SC | Industrial | N/A | East | 181,700 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Bloomingdale, IL | Office | N/A | Midwest | 40,916 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Moorestown, NJ | Office | N/A | East | 35,567 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Webster, TX | Industrial | N/A | South | 17,859 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Houston, TX | Office | N/A | South | 7,306 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Salisbury, NC | Various | N/A | East | 110,965 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Broomfield, CO | Office | N/A | West | 57,827 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | San Leandro, CA | Land | N/A | West | 1 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Chattanooga, TN | Industrial | N/A | South | 242,317 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant | Paris, France | Office | N/A | Europe | 3,407 | — | — | N/A | N/A | N/A | ||||||||||||||||
Vacant Total | 717,691 | |||||||||||||||||||||||||
Grand Total | 17,990,782 | $ | 100,003,023 | 100 | % |
(1) | WPC LLC owns 95% of this property. Rents reflect a conversion rate of 1.3203 USD/EUR as of December 31, 2006. | |
(2) | INSEE construction index, an index published quarterly by the French Government. | |
(3) | WPC LLC owns 75% of this property. Rents reflect a conversion rate of 1.3203 USD/EUR as of December 31, 2006. | |
(4) | WPC LLC owns 49.625% of this property. Rents reflect a conversion rate of 1.3203 USD/EUR as of December 31, 2006. | |
(5) | WPC LLC owns 40% of this property. | |
(6) | WPC LLC owns 74.583% of this property. | |
(7) | WPC LLC owns 50% of this property. | |
(8) | WPC LLC owns 33.33% of this property. | |
(9) | WPC LLC owns 36.00% of this property. | |
(10) | WPC LLC owns 33.93% of this property. | |
(11) | WPC LLC owns 80% of this property. Rents reflect a conversion rate of 1.3203 USD/EUR as of December 31, 2006. | |
(12) | Tenant is occupying property on a month-to-month basis. | |
(13) | WPC LLC owns 60% of this property. | |
(14) | WPC LLC owns 35% of this property. |
Ticker: WPC | www.wpcarey.com |