W. P. Carey (WPC) 8-K Regulation FD Disclosure

EXHIBIT 99.1

W. P. Carey & Co. LLC

Supplemental Operating and Financial Data

For the Three and Nine Months Ended September 30, 2008

Important Disclosures About this Supplemental Package

As used in this supplemental package, the terms “the Company,” “we,” “us” and “our” include W. P. Carey & Co. LLC, its consolidated subsidiaries and predecessors, unless otherwise indicated.

Important Note Regarding Non-GAAP Financial Measures

This supplemental package includes non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”), adjusted cash flow from operations, revenue diversification analysis and revenue stability analysis. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures are provided in this supplemental package.

Forward-Looking Statements

This supplemental package contains forward-looking statements within the meaning of the Federal securities laws. It is important to note that our actual results could be materially different from those projected in such forward-looking statements. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties and other factors that may materially affect our future results, performance, achievements or transactions. Information on factors which could impact actual results and forward-looking statements contained herein is included in our filings with the SEC, including but not limited to our Form 10-K for the year ended December 31, 2007. We do not undertake to revise or update any forward-looking statements.

2

W. P. CAREY & CO. LLC
Supplemental Operating and Financial Data
For the Three and Nine Months Ended September 30, 2008

Contents
Company Overview	4
Financial Highlights	5
Financial Results — Adjusted for Comparability	6
Reconciliation of Net Income to EBITDA	7
Reconciliation of Net Income to Funds From Operations (FFO)	8
Adjusted Cash Flow from Operating Activities	9
Revenue Diversification Analysis	10
Revenue Stability Analysis	11
Portfolio Debt Overview	12
Detailed Debt Summary	13
2008 Investments and Dispositions Activity	15
Portfolio Analysis — Rent Contribution and Historical Occupancy	17
Portfolio Diversification Analysis by Property Type	18
Portfolio Diversification Analysis by Tenant Industry	19
Portfolio Diversification Analysis by Geography	20
Portfolio Lease Maturity Analysis	21
Consolidated Balance Sheets	22
Consolidated Statements of Income	23
Consolidated Statements of Cash Flows	24
Detailed Property Summary	25

3

W. P. CAREY & CO. LLC
Company Overview
September 30, 2008

Key Company Contacts		Executive Offices
Wm. Polk Carey	Chairman of the Board and Director	50 Rockefeller Plaza
Gordon F. Dugan	President, Chief Executive Officer and Director	New York, NY 10020
Thomas E. Zacharias	Managing Director, Chief Operating Officer	Tel: 1-800-WPCAREY or (212) 492-1100
Mark J. DeCesaris	Managing Director, Acting Chief Financial Officer	Fax: (212) 492-8922
Susan C. Hyde	Managing Director, Director of Investor Relations	Web Site Address: www.wpcarey.com
Banks
Bank of America, N.A.	Administrative and Documentation Agent
The Bank of New York	Syndication Agent
JPMorgan Chase Bank, N.A.	Syndication Agent
PNC Bank, N.A.	Syndication Agent
Analyst Coverage
Everett Reveley	Davenport & Company, LLC
Stephanie M. Krewson	Janney Montgomery Scott LLC
Andrew T. DiZio	Janney Montgomery Scott LLC

	Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter
	2008			2008			2008			2007			2007
Stock Data (NYSE: WPC)
High Price	$	31.08		$	33.97		$	34.62		$	36.86		$	33.14
Low Price	$	23.44		$	27.67		$	25.79		$	31.02		$	27.67
Closing Price	$	26.10		$	28.71		$	29.97		$	33.20		$	31.50
Distributions declared per share — annualized(a)	$	1.97		$	1.95		$	1.93		$	1.91		$	1.89
Distribution yield (annualized distribution / closing stock price)		7.54	%		6.79	%		6.43	%		5.75	%		5.99	%
Shares outstanding at quarter end		40,024,035			39,656,675			39,536,581			39,216,493			38,583,229
Market value of outstanding shares at quarter end (in thousands)	$	1,044,627		$	1,138,543		$	1,184,911		$	1,301,988		$	1,215,372

(a) Fourth quarter 2007 excludes a special distribution of $0.27 per share that was paid in January 2008 to shareholders of record as of December 31, 2007. The special distribution was approved by our Board of Directors in connection with our corporate restructuring.

4

W. P. CAREY & CO. LLC
Financial Highlights (Unaudited)
(in thousands, except per share amounts)

These financial highlights include non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”) and adjusted cash flow from operations. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures is provided on the following pages.

	Three months ended											Nine months ended September 30,
	September 30, 2008		June 30, 2008		March 31, 2008		December 31, 2007			September 30, 2007		2008			2007
EBITDA
Investment management	$	18,207	$	15,774	$	14,745	$	(3,906	)	$	19,961	$	48,726		$	95,051
Real estate ownership		18,229		22,307		20,634		31,123			17,454		61,170			57,105
Total	$	36,436	$	38,081	$	35,379	$	27,217		$	37,415	$	109,896		$	152,156
FFO
Investment management	$	17,579	$	14,664	$	5,461	$	(14,281	)	$	17,040	$	37,704		$	83,450
Real estate ownership		15,963		20,887		16,069		17,192			15,184		52,919			46,905
Total	$	33,542	$	35,551	$	21,530	$	2,911		$	32,224	$	90,623		$	130,355
EBITDA Per Share (Diluted)
Investment management	$	0.45	$	0.39	$	0.37	$	(0.10	)	$	0.50	$	1.21		$	2.39
Real estate ownership		0.45		0.56		0.51		0.78			0.44		1.52			1.44
Total	$	0.90	$	0.95	$	0.88	$	0.68		$	0.94	$	2.73		$	3.83
FFO Per Share (Diluted)
Investment management	$	0.43	$	0.36	$	0.14	$	(0.36	)	$	0.43	$	0.94		$	2.10
Real estate ownership		0.40		0.52		0.40		0.43			0.38		1.31			1.18
Total	$	0.83	$	0.88	$	0.54	$	0.07		$	0.81	$	2.25		$	3.28
															��
Adjusted Cash Flow From Operating Activities
Adjusted cash flow												$	70,081		$	68,098
Adjusted cash flow per share (diluted)												$	1.74		$	1.71
Distributions declared per share												$	1.461		$	1.401
Payout ratio (distributions per share/adjusted cash flow per share)													84	%		82	%

5

W. P. CAREY & CO. LLC
Financial Results — Adjusted for Comparability (Unaudited)
(in thousands, except share and per share amounts)

	Three months ended September 30,					Nine months ended September 30,
	2008		2007			2008		2007
Net Income
Net income — as reported	$	19,198	$	20,409		$	56,147	$	73,239
Net income per share (diluted) — as reported	$	0.48	$	0.53		$	1.41	$	1.90
Items that affect comparability:
CPA®: 16 - Global performance adjustment, net(a)		—		—			—		(21,600	)
Out of period adjustment(b)		—		(4,800	)		—		(3,500	)
		—		(4,800	)		—		(25,100	)
Net income — adjusted for comparability	$	19,198	$	15,609		$	56,147	$	48,139
Net income per share (diluted) — adjusted for comparability	$	0.48	$	0.40		$	1.41	$	1.27
EBITDA
EBITDA — as reported	$	36,436	$	37,415		$	109,896	$	152,156
EBITDA per share (diluted) — as reported	$	0.90	$	0.94		$	2.73	$	3.83
Items that affect comparability:
CPA®:16 - Global performance adjustment, net(a)		—		—			—		(39,300	)
EBITDA — adjusted for comparability	$	36,436	$	37,415		$	109,896	$	112,856
EBITDA per share (diluted) — adjusted for comparability	$	0.90	$	0.94		$	2.73	$	2.84
FFO
FFO — as reported	$	33,542	$	32,224		$	90,623	$	130,355
FFO per share (diluted) — as reported	$	0.83	$	0.81		$	2.25	$	3.28
Items that affect comparability:
CPA®:16 - Global performance adjustment, net(a)		—		—			—		(42,300	)
FFO — adjusted for comparability	$	33,542	$	32,224		$	90,623	$	88,055
FFO per share (diluted) — adjusted for comparability	$	0.83	$	0.81		$	2.25	$	2.22
Diluted weighted average shares outstanding		40,299,073		39,601,853			40,293,094		39,718,522

Non-GAAP Financial Disclosure

The above table presents Net Income, EBITDA and FFO adjusted for items that affect comparability. We believe that these are useful supplemental measures for comparing our current financial performance with prior periods, although they do not represent net income that is computed in accordance with GAAP. Accordingly, Net Income, EBITDA and FFO adjusted for items that affect comparability should not be considered an alternative for Net Income as an indicator of our financial performance. Net Income, EBITDA and FFO adjusted for items that affect comparability may not be comparable to similarly titled measures of other companies. Net Income adjusted for items that affect comparability consists of net income in accordance with GAAP adjusted for amounts recognized on the achievement of CPA^®:16 – Global’s performance criterion as well as an out of period adjustment. A description of EBITDA and FFO and reconciliations to the most directly comparable GAAP measures are provided on the respective pages of this earnings release.

(a)

CPA®:16 – Global performance adjustment, net represents the net of tax impact of previously deferred asset management revenue, structuring revenue and interest income less deferred compensation costs which were recognized during the second quarter of 2007 following the achievement of CPA®:16 – Global’s performance criterion. Adjustments to EBITDA and FFO eliminate the associated provision for income taxes and provision for deferred income taxes, respectively.

(b)

During the third quarter of 2007, we determined that a longer schedule of depreciation/amortization of assets in certain of our equity method investment holdings should appropriately be applied to reflect the lives of the underlying assets rather than the expected holding period of these investments. We concluded that these adjustments are not material to any prior periods’ consolidated financial statements. We also concluded that the cumulative adjustment was not material to the third quarter of 2007, nor to the year ended December 31, 2007. As such, the cumulative effect was recorded in the consolidated statements of income as a one-time cumulative out of period adjustment in the third quarter of 2007. The effect of this adjustment for the three and nine months ended September 30, 2007 was to increase net income by approximately $4.8 million and $3.5 million, respectively.

6

W. P. CAREY & CO. LLC
Reconciliation of Net Income to EBITDA (Unaudited)
(in thousands, except share and per share amounts)

	Three months ended														Nine months ended September 30,
	September 30, 2008			June 30, 2008			March 31, 2008		December 31, 2007			September 30, 2007			2008		2007
Investment Management
Net income	$	11,201		$	7,123		$	6,931	$	(12,366	)	$	12,685		$	25,255	$	49,174
Adjustments:
Provision for income taxes		5,846			7,556			6,784		2,473			11,171			20,186		47,685
Depreciation and amortization		1,160			1,095			1,030		5,987			(3,895	)		3,285		(1,808	)
EBITDA — investment management	$	18,207		$	15,774		$	14,745	$	(3,906	)	$	19,961		$	48,726	$	95,051
EBITDA per share (diluted)	$	0.45		$	0.39		$	0.37	$	(0.10	)	$	0.50		$	1.21	$	2.39
Real Estate Ownership
Net income	$	7,997		$	12,725		$	10,170	$	18,379		$	7,724		$	30,892	$	24,065
Adjustments:
Interest expense		5,004			4,532			5,043		4,730			5,269			14,579		15,271
(Benefit from) provision for income taxes		(7	)		(134	)		360		225			225			219		1,128
Depreciation and amortization		5,235			5,184			5,061		6,056			3,443			15,480		14,828
Reconciling items attributable to discontinued operations		—			—			—		1,733			793			—		1,813
EBITDA — real estate ownership	$	18,229		$	22,307		$	20,634	$	31,123		$	17,454		$	61,170	$	57,105
EBITDA per share (diluted)	$	0.45		$	0.56		$	0.51	$	0.78		$	0.44		$	1.52	$	1.44
Total Company
EBITDA	$	36,436		$	38,081		$	35,379	$	27,217		$	37,415		$	109,896	$	152,156
EBITDA per share (diluted)	$	0.90		$	0.95		$	0.88	$	0.68		$	0.94		$	2.73	$	3.83
Diluted weighted average shares outstanding		40,299,073			40,256,658			40,202,798		39,815,933			39,601,853			40,293,094		39,718,522

Non-GAAP Financial Disclosure

EBITDA as disclosed represents earnings before interest, taxes, depreciation and amortization. We believe that EBITDA is a useful supplemental measure for assessing the performance of our business segments, although it does not represent net income that is computed in accordance with GAAP. Accordingly, EBITDA should not be considered an alternative for net income as an indicator of our financial performance. EBITDA may not be comparable to similarly titled measures of other companies.

7

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

	Three months ended															Nine months ended September 30,
	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			2008			2007
Investment Management
Net income	$	11,201		$	7,123		$	6,931		$	(12,366	)	$	12,685		$	25,255		$	49,174
Amortization, deferred taxes and other non-cash charges		2,290			4,041			(2,554	)		(2,466	)		7,114			3,777			32,660
FFO from equity investments		4,088			3,500			1,084			551			(2,759	)		8,672			1,616
FFO — investment management	$	17,579		$	14,664		$	5,461		$	(14,281	)	$	17,040		$	37,704		$	83,450
FFO per share (diluted)	$	0.43		$	0.36		$	0.14		$	(0.36	)	$	0.43		$	0.94		$	2.10
Real Estate Ownership
Net income	$	7,997		$	12,725		$	10,170		$	18,379		$	7,724		$	30,892		$	24,065
Gain on sale of investment in direct financing lease		(1,103	)		—			—			—			—			(1,103	)		—
Gain on sale of real estate, net		—			—			—			(14,865	)		—			—			(962	)
Depreciation, amortization and other non-cash charges		6,764			5,389			3,561			4,929			4,228			15,714			15,343
Straight-line and other rent adjustments		(613	)		659			669			964			660			715			2,116
Impairment charges		538			—			—			1,017			2,317			538			2,317
FFO from equity investments		2,551			2,287			1,841			1,662			464			6,679			4,650
Minority investees’ share of FFO		(171	)		(173	)		(172	)		5,106			(209	)		(516	)		(624	)
FFO — real estate ownership	$	15,963		$	20,887		$	16,069		$	17,192		$	15,184		$	52,919		$	46,905
FFO per share (diluted)	$	0.40		$	0.52		$	0.40		$	0.43		$	0.38		$	1.31		$	1.18
Total Company
FFO	$	33,542		$	35,551		$	21,530		$	2,911		$	32,224		$	90,623		$	130,355
FFO per share (diluted)	$	0.83		$	0.88		$	0.54		$	0.07		$	0.81		$	2.25		$	3.28
Diluted weighted average shares outstanding		40,299,073			40,256,658			40,202,798			39,815,933			39,601,853			40,293,094			39,718,522

Non-GAAP Financial Disclosure

Funds from operations (FFO) is a non-GAAP financial measure that is commonly used in evaluating real estate companies. Although the National Association of Real Estate Investment Trusts (NAREIT) has published a definition of FFO, real estate companies often modify this definition as they seek to provide financial measures that meaningfully reflect their operations. FFO should not be considered as an alternative to net income as an indication of a company’s operating performance or to cash flow from operating activities as a measure of its liquidity. It should be used in conjunction with GAAP net income. FFO disclosed by other REITs may not be comparable to our FFO calculation.

NAREIT’s definition of FFO adjusts GAAP net income to exclude depreciation and gains/losses from the sales of properties and adjusts for FFO applicable to unconsolidated partnerships and joint ventures. We calculate FFO in accordance with this definition and then include other adjustments to GAAP net income to adjust for certain non-cash charges such as amortization of intangibles, deferred income tax benefits and expenses, straight-line rents, stock compensation, impairment charges on real estate and unrealized foreign currency exchange gains and losses. We exclude these items from GAAP net income as they are not the primary drivers in our decision making process. Our assessment of our operations is focused on long term sustainability and not on such non-cash items which may cause short-term fluctuations in net income but that have no impact on cash flows.

8

W. P. CAREY & CO. LLC
Adjusted Cash Flow from Operating Activities (Unaudited)
(in thousands, except share and per share amounts)

	Nine months ended September 30,
	2008			2007
Cash flow from operating activities — as reported	$	47,492		$	24,893
Adjustments:
CPA®:16 – Global performance adjustment, net(a)		(12,291	)		9,425
Settlement payment(b)		21,012			—
CPA®:12/14 Merger — payment of taxes(c)		—			20,708
Distributions received from equity investments in real estate in excess of equity income (d)		7,265			8,077
Changes in working capital(c)		6,603			4,995
Adjusted cash flow from operating activities	$	70,081		$	68,098
Adjusted cash flow per share (diluted)	$	1.74		$	1.71
Distributions declared per share	$	1.461		$	1.401
Payout ratio (distributions per share/adjusted cash flow per share)		84	%		82	%
Diluted weighted average shares outstanding		40,293,094			39,718,522

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities is a non-GAAP financial measure that represents cash flow from operating activities on a GAAP basis adjusted for certain timing differences and deferrals as described below. We believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations and is used in evaluating distributions to shareholders. Adjusted cash flow from operating activities should not be considered as an alternative for cash flow from operating activities computed on a GAAP basis as a measure of our liquidity. Adjusted cash flow from operating activities may not be comparable to similarly titled measures of other companies.

(a)	Amounts (paid)/deferred in lieu of CPA®:16 – Global achieving its performance criterion, net of a 45% tax provision. In determining cash flow generated from our core operations, we believe it is more appropriate to normalize cash flow for the impact of CPA®:16 – Global achieving its performance criterion, rather than recognizing the entire deferred amount in the quarter in which the performance criterion was met as this revenue was actually earned over a three year period.
(b)	In March 2008, we entered into a settlement with the SEC with respect to all matters relating to their investigation. As a result, we paid $30 million in the first quarter of 2008, and recognized an offsetting $9 million tax benefit in the same period.
(c)	Timing differences arising from the payment of certain liabilities in a period other than that in which the expense is recognized in determining net income may distort the actual cash flow that our core operations generate. We adjust our GAAP cash flow from operations to record such amounts in the period in which the liability was actually incurred. We believe this is a fairer measure of determining our cash flow from core operations.
(d)	We take a substantial portion of our asset management revenue in shares of the CPA® REIT funds. To the extent we receive distributions in excess of the equity income that we recognize, we include such amounts in our evaluation of cash flow from core operations.

9

W. P. CAREY & CO. LLC
Revenue Diversification Analysis (Unaudited)
(in thousands)

	Three months ended															Nine months ended September 30,
	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			2008			2007
Revenue from Investment Management
Asset management revenue	$	20,205		$	20,039		$	20,126		$	19,165		$	18,648		$	60,370		$	63,886
Structuring revenue		10,818			3,169			3,416			10,366			9,778			17,403			67,809
Other interest income		586			548			533			1,057			1,087			1,667			4,974
Total investment management revenue	$	31,609		$	23,756		$	24,075		$	30,588		$	29,513		$	79,440		$	136,669
Percentage of total adjusted revenue		58	%		47	%		52	%		58	%		55	%		52	%		65	%
Revenue from Real Estate Ownership
Lease revenue — continuing and discontinued operations	$	18,959		$	23,247		$	19,254		$	20,196		$	20,489		$	61,460		$	62,603
Other real estate income		3,834			3,305			3,122			2,144			3,764			10,261			9,879
Other interest income		166			131			228			257			201			526			556
Total real estate revenue	$	22,959		$	26,683		$	22,604		$	22,597		$	24,454		$	72,247		$	73,038
Percentage of total adjusted revenue		42	%		53	%		48	%		42	%		45	%		48	%		35	%
Reconciliation of Total Revenue
Total revenue — as reported	$	66,636		$	58,503		$	57,372		$	51,607		$	54,577		$	182,511		$	208,298
Less: Reimbursed costs from affiliates(a)		(12,820	)		(12,568	)		(11,506	)		(3,641	)		(3,422	)		(36,894	)		(10,141	)
Add: Other interest income		752			679			761			1,314			1,288			2,193			5,530
Add: Revenue from discontinued operations		—			3,825			52			3,905			1,524			3,877			6,020
Total Adjusted Revenue	$	54,568		$	50,439		$	46,679		$	53,185		$	53,967		$	151,687		$	209,707

(a) Total adjusted revenue excludes reimbursements of costs received from affiliated CPA^®REITs as they have no impact on net income. Also excluded is wholesaling revenue earned in connection with CPA^®: 17 — Global’s initial public offering, which is primarily offset by underwriting costs incurred in connection with the offering.

10

W. P. CAREY & CO. LLC
Revenue Stability Analysis (Unaudited)
(in thousands)

	Three months ended																									Nine months ended September 30,
	September 30, 2008					June 30, 2008					March 31, 2008					December 31, 2007					September 30, 2007					2008					2007
	Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%
Revenue Type
Rents(a)	$	19,125				$	23,378				$	19,482				$	20,453				$	20,690				$	61,986				$	63,159
Management revenue(b)(d)		20,791					20,587					20,659					20,222					19,735					62,037					68,860
Rents and Management Revenue		39,916		73	%		43,965		87	%		40,141		86	%		40,675		76	%		40,425		75	%		124,023		82	%		132,019		63	%
Structuring revenue(c)(d)		10,818					3,169					3,416					10,366					9,778					17,403					67,809
Other real estate income		3,834					3,305					3,122					2,144					3,764					10,261					9,879
Structuring Revenue & Other Income		14,652		27	%		6,474		13	%		6,538		14	%		12,510		24	%		13,542		25	%		27,664		18	%		77,688		37	%
Total Adjusted Revenue	$	54,568		100	%	$	50,439		100	%	$	46,679		100	%	$	53,185		100	%	$	53,967		100	%	$	151,687		100	%	$	209,707		100	%

(a)	Rents = lease revenue (continuing operations) + revenue from discontinued operations + other interest income from real estate ownership.
(b)	Management revenue includes asset management revenue and interest income earned from CPA®REITs under management.
(c)	Structuring revenue includes structuring fees and deferred structuring fees.
(d)	Management revenue for the nine months ended September 30, 2007 includes $19,302 in performance revenue recognized as a result of CPA®:16 – Global meeting its performance criterion. Structuring revenue for the nine months ended September 30, 2007 includes $42,435 in deferred structuring revenue also recognized as a result of CPA®:16 – Global meeting its performance criterion.

11

W. P. CAREY & CO. LLC
Portfolio Debt Overview as of September 30, 2008 (Pro rata basis) (Unaudited)
(in thousands)

Portfolio Debt Maturity

Year of Maturity	Outstanding Balance(a)
2008	$	40,184
2009		29,675
2010		12,159
2011		125,859
2012		32,182
2013		2,167
2014		57,079
2015		49,275
2016		36,970
2017		58,879
2018		9,469
2019		—
2020		—
2021		—
2022		—
2023		5,654
Total	$	459,552
Fixed and Variable Rate Debt Analysis
Non-Recourse Debt	Outstanding Balance
Fixed	$	256,369
Fixed — Swap Agreement		9,469
Fixed — Future Rate Reset		65,064
Variable		55,150
		386,052
Recourse Debt
Variable — Line of Credit		73,500
Total Debt	$	459,552

(a) Debt balances calculated using an exchange rate of 1.4449 USD/EUR at September 30, 2008 (where applicable).

12

W. P. CAREY & CO. LLC
Detailed Debt Summary as of September 30, 2008 (Pro rata basis) (Unaudited)
(in thousands)

Tenant/Lease Guarantor / Percent Ownership	Rate Type		Interest Rate			Maturity Date	Outstanding Balance
Self-Storage Credit Facility(a)	Variable			4.74	%	Dec-2008	$	35,184
Billipp Portfolio(b)	Variable			4.06	%	Dec-2008		5,000
Orbital Sciences Corporation	Fixed			7.38	%	Jun-2009		12,235
US Airways Group, Inc. (75%)	Fixed			7.23	%	Aug-2009		15,240
The Retail Distribution Group, Inc. (40%)	Fixed			8.51	%	Sep-2009		2,200
Bell South Corporation	Fixed			8.11	%	Jan-2010		2,966
Hibbett Sports	Fixed			7.50	%	Apr-2010		4,578
Daimler Trucks North America LLC	Fixed			7.96	%	Jun-2010		4,615
Federal Express Corporation (40%)	Fixed			7.50	%	Jan-2011		16,346
AutoZone, Inc. — Series A	Fixed			6.85	%	Jan-2011		1,115
Childtime Childcare, Inc. (34%)	Fixed			7.50	%	Jan-2011		2,240
Information Resources, Inc. (33%)	Fixed			7.60	%	Jan-2011		7,505
Pioneer Credit Recovery, Inc.	Fixed			7.34	%	Jan-2011		5,497
AutoZone, Inc. — Series B	Fixed			6.85	%	Feb-2011		1,759
Career Education Corporation	Fixed			7.58	%	Jun-2011		6,847
24 Hour Fitness USA, Inc.	Fixed			7.50	%	Aug-2011		2,916
Sprint Spectrum, LP	Fixed			7.64	%	Aug-2011		8,134
Qwest Communications, Inc.	Fixed			7.50	%	Jun-2012		1,448
AutoZone, Inc. — Series C	Fixed			6.85	%	Aug-2012		811
BE Aerospace, Inc.	Fixed			6.11	%	Nov-2012		8,504
Faurecia Exhaust Systems, Inc.	Fixed			5.16	%	Nov-2012		2,521
Anthony’s Manufacturing Company	Fixed			5.11	%	Nov-2012		8,746
Alstom Power, Inc. and Werner Co.	Fixed			5.18	%	Dec-2012		10,152
AutoZone, Inc. — Series D	Fixed			6.85	%	Aug-2013		2,167
Carrefour France, S.A. (46%)(c)	Fixed - Future Rate Reset			5.55	%	Dec-2014		57,079
Lowe’s Home Improvement Warehouse	Fixed			4.87	%	Sep-2015		9,306
Bouygues Telecom, S.A. (Tours) (95%)(c)	Fixed - Future Rate Reset			3.86	%	Oct-2015		7,985
The American Bottling Company	Fixed			5.13	%	Nov-2015		31,984
CheckFree Holdings, Inc. (50%)	Fixed			6.18	%	Jun-2016		14,962
Bouygues Telecom, S.A. (Illkirch-Graffenstaden) (75%)(c) (d)	Variable			5.01	%	Oct-2016		14,966
Consolidated Systems, Inc. (60%)	Fixed	��		5.87	%	Nov-2016		7,042
Western Union Financial Services, Inc.	Fixed			5.50	%	Jan-2017		6,000
Hellweg Die Profi-Baumärkte GmbH & Co KG (5%)(c)	Fixed			5.49	%	Jan-2017		15,422
SICOR, Inc. (50%)	Fixed			6.20	%	Jul-2017		17,675
Medica France, S.A. (46%)(c)	Fixed			5.63	%	Oct-2017		19,782

13

W. P. CAREY & CO. LLC
Detailed Debt Summary as of September 30, 2008 (Pro rata basis) (Unaudited)
(in thousands)

Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Outstanding Balance
OBI Wroclaw	Fixed - Swap		5.48	%	Mar-2018	$	9,469
Hologic, Inc. (36%)	Fixed		6.40	%	May-2023		5,654
Total Non-Recourse Debt			5.91	%(d)		$	386,052
Unsecured Credit Facility	Variable		3.76	%	Jun-2011	$	73,500
Total Debt			5.56	%(d)		$	459,552

(a)	Facility includes an option to extend for three consecutive one-year periods. LIBOR capped at 4.75% through December 2008.
(b)	Loan agreement includes a one-year extension option.
(c)	Debt balance calculated using an exchange rate of 1.4449 USD/EUR as of September 30, 2008.
(d)	Reflects weighted average interest rate for the applicable debt.

14

W. P. CAREY & CO. LLC
2008 Investment and Disposition Activity as of September 30, 2008 (Unaudited)
(in thousands, except square footage)

Investment Activity

Investment Management Activity — Real Estate

Portfolio	Tenant/Lease Guarantor	Property Location(s)		Purchase Price		Closing Date	Property Type	Gross Square Footage
CPA®:16 - Global	Briggs Nursery, LLC	Elma, WA		$	6,545	Feb-08	Industrial		77,775
CPA®:16 - Global	Best Brands Corp.	Colton, CA; Dallas, TX; Bonner Springs, KS; Eagan, MN			50,638	Mar-08	Industrial		795,379
CPA®:16 - Global	Mantsinen Group Ltd Oy	Ylamylly, Finland			18,113	Apr-08	Industrial		118,942
CPA®:16 - Global	Schoeller Arca System GmbH	Monheim, Germany			12,864	Apr-08	Industrial		100,018
CPA®:17	Flexmag Industries, Inc.	Norfolk, NE			2,618	Jun-08	Industrial		109,200
CPA®:16 - Global	Schoeller Arca System SAS	Nurieux, France			17,006	Jun-08	Industrial		196,743
CPA®:16 - Global	Leipold Inc.	Wolfach, Dransfekl, & Bunde, Germany			16,068	Jun-08	Industrial		196,023
CPA®:16 - Global	Leipold Inc.	Windsor, CT			1,585	Jun-08	Industrial		17,400
CPA®:16 - Global, CPA®:17	Actebis Peacock GmbH	Soest and Bad Wunnenberg, Germany			69,391	Jul-08	Various		652,482
CPA®:17	Laureate Education, Inc.	Chicago, IL			29,319	Jul-08	Other		178,490
CPA®:17	Sabre Communications Corporation and Cellxion, LLC	Alvarado, TX and Bossier City, LA			27,958	Aug-08	Industrial		598,908
CPA®:15, CPA®:17	Wagon Automotive GmbH and Wagon Automotive Nagold GmbH	Waldaschaff and Nagold, Germany			68,261	Aug-08	Industrial		842,858
CPA®:17	Lifetime Fitness, Inc.	Scottsdale, AZ & Columbia, MD			63,365	Sep-08	Other		220,338
					383,731				4,104,556
Investment Management Activity — CMBS
Portfolio	Pool / Security Type		Face Value	Purchase Price		Closing Date	Rating	Implied Yield
CPA®:17 - Global	TOP29 Class H Securities		$              6,994	$	2,661	Apr-08	BBB-		22.69	%
CPA®:17 - Global	LBUBS 2008-C1 Class G		3,330		2,075	Apr-08	A-		13.43	%
CPA®:17 - Global	LBUBS 2008-C1 Class H		3,830		1,771	Apr-08	BBB+		17.54	%
CPA®:17 - Global	LB-UBS 2007-C7 Class G		9,517		6,621	Jun-08	A-		12.08	%
CPA®:17 - Global	MSC 2007 IQ16 Class E		5,300		3,842	Jun-08	A+		11.30	%
CPA®:17 - Global	MSC 2007 IQ16 Class G		2,343		1,534	Jun-08	A-		12.90	%
CPA®:17 - Global	BACM 2008-1 Class F		2,000		1,461	Jun-08	A		11.22	%
			$            33,314		19,965
Total Investment Management Acquisitions				$	403,696

15

W. P. CAREY & CO. LLC
2008 Investment and Disposition Activity as of September 30, 2008 (Unaudited)
(in thousands, except square footage)

Disposition Activity

Investment Management Activity

					Disposition
Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Gross Sale Price		Date	Property Type	Gross Square Footage
CPA®:15	Meadowbrook Meat Company, Inc.	Macon, GA	$	1,010	Apr-08	Warehouse/Distribution		20,038
CPA®:14	Earle M. Jorgensen Company	Kansas City, MO		6,460	Jun-08	Warehouse/Distribution		120,855
Total Investment Management Dispositions			$	7,470				140,893
Principal Activity
WPC LLC	Brodart Company	Williamsport, PA	$	5,000	Aug-08	Industrial		521,240
Total Principal Dispositions				5,000				521,240
Total Dispositions			$	12,470				662,133

16

W. P. CAREY & CO. LLC
Portfolio Analysis as of September 30, 2008 (Unaudited)
(in thousands)

Portfolio Diversification by Rent (Pro rata basis)

			Percentage of		Percentage of
Top Ten Tenants/Lease Guarantors	Annualized Rent		Total Annualized Rent		Total Adjusted Revenue(a)
Carrefour France, S.A. — France	$	9,610		10%		3%
Bouygues Telecom, S.A. — France		4,980		5%		2%
The American Bottling Company		4,842		5%		2%
Daimler Trucks North America LLC		4,634		5%		2%
Medica France S.A. — France		3,300		3%		1%
US Airways Group, Inc.		3,172		3%		1%
Federal Express Corporation		3,077		3%		1%
Orbital Sciences Corporation		3,023		3%		1%
Titan Corporation		2,707		3%		1%
Schuler A.G. — Germany		2,355		2%		1%
	$	41,700

(a) Total Adjusted Revenue = Total revenue as reported, less reimbursed costs from affiliates, plus other interest income, plus revenue from discontinued operations.

W. P. Carey & Co. LLC Historical Occupancy

17

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Property Type as of September 30, 2008 (Unaudited)
(in thousands)

Property Type	Square Footage(a)		Percent
Industrial		8,134		48	%
Warehouse/Distribution		5,106		30	%
Office		2,030		12	%
Retail		1,125		7	%
Other Properties(c)		363		2	%
Hospitality		158		1	%
Total (d)		16,916		100	%

Portfolio Diversification by Property Type
(based on square footage)

Property Type	Annualized Rent(b)		Percent
Industrial	$	35,118		35	%
Office		29,444		30	%
Warehouse/Distribution		20,416		21	%
Other Properties(c)		6,715		7	%
Retail		6,199		6	%
Hospitality		1,200		1	%
Total (d)	$	99,092		100	%

Portfolio Diversification by Property Type
(based on annualized rents)

(a)	Square footage for jointly owned properties shown on a pro rata basis.
(b)	Rents reflect current annualized rents on a pro rata basis.
(c)	Reflects properties used for health care; education, child care and social services; leisure, amusement and recreation; unoccupied land.
(d)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2008.

18

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Tenant Industry as of September 30, 2008 (Unaudited)
(in thousands)

	Annualized		Percentage of
Industry Type (a)	Rent(b)		Annualized Rent
Retail Stores	$	16,509		17	%
Telecommunications		10,738		11	%
Business and Commercial Services		11,151		11	%
Healthcare, Education and Childcare		9,363		10	%
Electronics		6,920		7	%
Automobile		5,319		5	%
Beverages, Food, and Tobacco		5,237		5	%
Aerospace and Defense		4,895		5	%
Forest Products and Paper		4,418		5	%
Machinery		3,036		3	%
Transportation — Personal		3,355		3	%
Transportation — Cargo		3,114		3	%
Consumer and Durable Goods		2,202		2	%
Media: Printing and Publishing		1,941		2	%
Mining, Metals, and Primary Metal Industries		1,860		2	%
Chemicals, Plastics, Rubber, and Glass		1,813		2	%
Hotels and Gaming		1,209		1	%
Federal, State and Local Government		1,170		1	%
Construction and Building		1,115		1	%
Textiles, Leather, and Apparel		978		1	%
Leisure, Amusement, Entertainment		907		1	%
Banking		637		1	%
Other(c)		1,205		1	%
Total(d)	$	99,092		100	%

(a)	Based on the Moody’s Classification System and information provided by the tenant.
(b)	Rents reflect current annualized rents on a pro rata basis.
(c)	Reflects properties with tenants in the grocery and consumer non-durable goods industries .
(d)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2008.

19

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Geography as of September 30, 2008 (Unaudited)
(in thousands)

Region	Square Footage(a)		Percent
South		5,016		30	%
Midwest		4,557		27	%
East		2,978		17	%
West		2,321		14	%
Europe		2,044		12	%
Total(c)		16,916		100	%

Portfolio Diversification by Geography
(based on square footage)

Region	Annualized Rent(b)		Percent
South	$	28,127		28	%
West		21,553		22	%
Midwest		17,936		18	%
East		10,200		10	%
Europe		21,276		22	%
Total(c)	$	99,092		100	%

Portfolio Diversification by Geography
(based on annualized rents)

(a)	Square footage for jointly owned properties shown on a pro rata basis.
(b)	Rents reflect current annualized rents on a pro rata basis.
(c)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2008.

20

W. P. CAREY & CO. LLC
Portfolio Lease Maturity Analysis as of September 30, 2008 (Unaudited)
(in thousands)

			Percentage of
Year of Lease	Annualized		Total Annualized
Expiration(a)	Rents		Rent
2008(b)	$	270		0	%
2009		7,920		8	%
2010		18,215		18	%
2011		17,783		18	%
2012		8,044		8	%
2013		7,523		8	%
2014		12,735		13	%
2015		3,526		4	%
2016		1,674		2	%
2017		2,438		2	%
2018		3,938		4	%
2019		4,479		4	%
2020		4,634		5	%
2021		—		0	%
2022		1,581		2	%
2023		—		0	%
2024		—		0	%
2025		1,029		1	%
2026		948		1	%
2027		2,355		2	%
Total (c)	$	99,092		100	%

Weighted Average Years to Maturity: 5.43

(a)	Assumes tenant does not exercise renewal option.
(b)	Month-to-month properties are counted in current year’s revenue stream.
(c)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2008.

21

W. P. CAREY & CO. LLC
Consolidated Balance Sheets (Unaudited)
(in thousands, except share amounts)

	September 30, 2008			December 31, 2007
				(NOTE)
Assets
Real estate, net	$	500,988		$	513,405
Net investment in direct financing leases		84,477			89,463
Equity investments in real estate and CPA® REITs		266,567			242,677
Operating real estate, net		75,311			73,189
Cash and cash equivalents		20,485			12,137
Due from affiliates		51,194			88,329
Intangible assets and goodwill, net		95,178			99,873
Other assets, net		30,654			34,211
Total assets	$	1,124,854		$	1,153,284
Liabilities and Members’ Equity
Liabilities:
Non-recourse debt	$	255,478		$	254,051
Line of credit		73,500			62,700
Accounts payable, accrued expenses and other liabilities		44,001			59,076
Income taxes, net		60,641			65,152
Distributions payable		19,650			29,222
Settlement provision		—			29,979
Total liabilities		453,270			500,180
Minority interest in consolidated entities		19,523			18,833
Commitments and contingencies
Members’ equity:
Listed shares, no par value, 100,000,000 shares authorized; 40,024,035 and 39,216,493 shares issued and outstanding, respectively		771,283			748,584
Distributions in excess of accumulated earnings		(119,319	)		(117,051	)
Accumulated other comprehensive income		97			2,738
Total members’ equity		652,061			634,271
Total liabilities and members’ equity	$	1,124,854		$	1,153,284

Note:The consolidated balance sheet at December 31, 2007 has been derived from the audited consolidated financial statements at that date.

22

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

	Three months ended September 30,							Nine months ended September 30,
	2008				2007			2008			2007
Revenues
Asset management revenue	$	20,205			$	18,648		$	60,370		$	63,886
Structuring revenue		10,818				9,778			17,403			67,809
Wholesaling revenue		1,517				—			4,145			—
Reimbursed costs from affiliates		11,303				3,422			32,749			10,141
Lease revenues		18,959				18,965			57,583			56,583
Other real estate income		3,834				3,764			10,261			9,879
		66,636				54,577			182,511			208,298
Operating Expenses
General and administrative		(17,013	)			(12,323	)		(48,242	)		(47,624	)
Reimbursable costs		(11,303	)			(3,422	)		(32,749	)		(10,141	)
Depreciation and amortization		(6,395	)			(6,083	)		(18,765	)		(19,555	)
Property expenses		(1,815	)			(2,282	)		(5,555	)		(5,069	)
Impairment charge		(538	)			—			(538	)		—
Other real estate expenses		(1,989	)			(2,255	)		(6,204	)		(6,080	)
		(39,053	)			(26,365	)		(112,053	)		(88,469	)
Other Income and Expenses
Other interest income		752				1,288			2,193			5,530
Income from equity investments in real estate and CPA® REITs		2,272				8,945			10,917			13,312
Minority interest in income		(103	)			(505	)		(496	)		(3,911	)
Gain on sale of investment in direct financing lease		1,103				—			1,103			—
(Loss) gain on sale of securities, foreign currency transactions and other, net		(1,566	)			1,029			3,093			1,384
Interest expense		(5,004	)			(5,269	)		(14,579	)		(15,271	)
		(2,546	)			5,488			2,231			1,044
Income from continuing operations before income taxes		25,037				33,700			72,689			120,873
Provision for income taxes		(5,839	)			(11,396	)		(20,405	)		(48,813	)
Income from continuing operations		19,198				22,304			52,284			72,060
Discontinued Operations
Income from operations of discontinued properties		—				422			3,863			2,534
Gain on sale of real estate, net		—				—			—			962
Impairment charges		—				(2,317	)		—			(2,317	)
(Loss) income from discontinued operations		—				(1,895	)		3,863			1,179
				��
Net Income	$	19,198			$	20,409		$	56,147		$	73,239
Basic Earnings Per Share
Income from continuing operations	$	0.48			$	0.58		$	1.31		$	1.89
(Loss) income from discontinued operations		—				(0.05	)		0.10			0.03
Net income	$	0.48			$	0.53		$	1.41		$	1.92
Diluted Earnings Per Share
Income from continuing operations	$	0.48			$	0.58		$	1.31		$	1.87
(Loss) income from discontinued operations		—				(0.05	)		0.10			0.03
Net income	$	0.48			$	0.53		$	1.41		$	1.90
Weighted Average Shares Outstanding
Basic		39,294,889				38,298,979			39,125,329			38,117,280
Diluted		40,299,073				39,601,853			40,293,094			39,718,522
Distributions Declared Per Share	$	0.492			$	0.472		$	1.461		$	1.401

23

W. P. CAREY & CO. LLC
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)

	Nine months ended September 30,
	2008			2007
Cash Flows — Operating Activities
Net income	$	56,147		$	73,239
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization including intangible assets and deferred financing costs		20,412			21,140
Income from equity investments in real estate and CPA® REITs in excess of distributions received		(1,224	)		(9,269	)
Gain on sale of direct financing lease		(1,103	)		—
Gain on sale of real estate, net		—			(962	)
Minority interest in income		496			4,027
Straight-line rent adjustments		1,718			2,045
Management income received in shares of affiliates		(30,237	)		(43,415	)
Unrealized loss (gain) on foreign currency transactions, warrants and securities		324			(1,279	)
Realized gain on foreign currency transactions, warrants and securities		(1,567	)		(105	)
Impairment charges		538			2,317
Stock-based compensation expense		5,894			3,795
Decrease in deferred acquisition revenue received		46,695			16,164
Increase in structuring revenue receivable		(8,845	)		(50,253	)
(Decrease) increase in income taxes, net		(6,527	)		8,465
Decrease in settlement provision		(29,979	)		—
Net changes in other operating assets and liabilities		(5,250	)		(1,016	)
Net cash provided by operating activities		47,492			24,893
Cash Flows — Investing Activities
Distributions received from equity investments in real estate and CPA® REITs in excess of equity income		7,566			24,358
Capital contributions to equity investments		(1,361	)		—
Purchases of real estate and equity investments in real estate		(184	)		(40,845	)
Capital expenditures		(8,355	)		(11,768	)
Loan to affiliate		—			(8,676	)
Proceeds from repayment of loan to affiliate		—			8,676
VAT refunded on purchase of real estate		3,189			—
Proceeds from sales of real estate and securities		5,062			6,014
Funds placed in escrow in connection with the sale of property		—			(3,315	)
Funds released from escrow in connection with the sale of property		636			—
Payment of deferred acquisition revenue to affiliate		(120	)		(524	)
Net cash provided by (used in) investing activities		6,433			(26,080	)
Cash Flows — Financing Activities
Distributions paid		(67,987	)		(53,432	)
Contributions from minority interests		1,957			1,181
Distributions to minority interests		(1,659	)		(1,295	)
Scheduled payments of mortgage principal		(7,196	)		(13,854	)
Proceeds from mortgages and credit facilities		122,968			150,383
Prepayments of mortgage principal and credit facilities		(102,427	)		(70,590	)
Repayment of loan from affiliates		(7,569	)		—
Payment of financing costs		(375	)		(1,317	)
Proceeds from issuance of shares		21,242			4,532
Excess tax benefits associated with stock-based compensation awards		697			1,352
Repurchase and retirement of shares		(5,134	)		(21,104	)
Net cash used in financing activities		(45,483	)		(4,144	)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash		(94	)		291
Net increase (decrease) in cash and cash equivalents		8,348			(5,040	)
Cash and cash equivalents, beginning of period		12,137			22,108
Cash and cash equivalents, end of period	$	20,485		$	17,068

24

W. P. CAREY & CO. LLC
Detailed Property Summary (Unaudited)
September 30, 2008

												Percentage of
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage		Annualized Rent		Total Rent(e)			Increase Factor	Lease Expiration	Maximum Term
Carrefour France, SAS(a)		46	%	Crepy en Valois, France	Warehouse/Distribution	Retail Stores	Europe		101,255	$	828,102		0.84	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Crepy en Valois, France	Warehouse/Distribution	Retail Stores	Europe		152,374		1,246,181		1.26	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Lens, France	Warehouse/Distribution	Retail Stores	Europe		126,933		1,009,138		1.02	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Lens, France	Warehouse/Distribution	Retail Stores	Europe		2,599		20,659		0.02	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Lens, France	Warehouse/Distribution	Retail Stores	Europe		4,349		34,574		0.03	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		134,945		885,797		0.89	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		2,554		16,766		0.02	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		596		3,915		0.00	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Colomiers, France	Warehouse/Distribution	Retail Stores	Europe		174,272		1,280,332		1.29	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Colomiers, France	Warehouse/Distribution	Retail Stores	Europe		60,296		442,981		0.45	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Colomiers, France	Warehouse/Distribution	Retail Stores	Europe		7,524		55,278		0.06	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Colomiers, France	Warehouse/Distribution	Retail Stores	Europe		2,899		21,299		0.02	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Thuit Hebert, France	Warehouse/Distribution	Retail Stores	Europe		107,965		637,112		0.64	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Thuit Hebert, France	Warehouse/Distribution	Retail Stores	Europe		68,481		404,112		0.41	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Ploufragan, France	Warehouse/Distribution	Retail Stores	Europe		122,599		772,344		0.78	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Cholet, France	Warehouse/Distribution	Retail Stores	Europe		99,268		663,260		0.67	%	INSEE(2)	Dec-2011	Dec-2011
Carrefour France, SAS(a)		46	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		177,797		1,288,549		1.30	%	INSEE(2)	Nov-2012	Nov-2012
Carrefour France, SAS Total									1,346,706		9,610,399		9.70	%
Bouygues Telecom, S.A.(a)		75	%	Illkirch-Graffenstaden, France	Office	Telecommunications	Europe		80,729		3,086,216		3.11	%	INSEE(2)	Feb-2013	Feb-2013
Bouygues Telecom, S.A.(a)		95	%	Tours, France	Office	Telecommunications	Europe		102,237		1,894,281		1.91	%	INSEE(2)	Sep-2009	Sep-2009
Bouygues Telecom, S.A. Total									182,966		4,980,497		5.03	%
The American Bottling Company		100	%	Irving, TX	Industrial	Beverages, Food, and Tobacco	South		459,497		2,937,278		2.96	%	CPI	Jun-2014	Jun-2014
The American Bottling Company		100	%	Houston, TX	Industrial	Beverages, Food, and Tobacco	South		262,450		1,904,924		1.92	%	CPI	Jun-2014	Jun-2014
The American Bottling Company Total									721,947		4,842,202		4.89	%
Daimler Trucks North America LLC		100	%	Detroit, MI	Industrial	Automobile	Midwest		2,730,750		4,634,253		4.68	%	PPI	Jun-2020	Jun-2030
Medica France S.A.(a)		46	%	Chatou, France	Other	Healthcare, Education and Childcare	Europe		24,668		445,618		0.45	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.(a)		46	%	Poissy, France	Other	Healthcare, Education and Childcare	Europe		24,593		487,395		0.49	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.(a)		46	%	Rosny sous Bois, France	Other	Healthcare, Education and Childcare	Europe		21,847		412,893		0.42	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.(a)		46	%	Paris, France	Other	Healthcare, Education and Childcare	Europe		24,771		626,651		0.63	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.(a)		46	%	Rueil Malmaison, France	Other	Healthcare, Education and Childcare	Europe		23,815		589,748		0.60	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.(a)		46	%	Sarcelles, France	Other	Healthcare, Education and Childcare	Europe		34,622		738,055		0.74	%	INSEE(2)	Jun-2010	Jun-2010
Medica France S.A.Total									154,316		3,300,360		3.33	%
US Airways Group, Inc.		75	%	Tempe, AZ	Office	Transportation - Personal	West		167,913		3,171,909		3.20	%	CPI	Apr-2014	Nov-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		701,821		0.71	%	CPI	Aug-2019	Nov-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		701,821		0.71	%	CPI	Aug-2019	Nov-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		701,821		0.71	%	CPI	Aug-2019	Nov-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		701,821		0.71	%	CPI	Aug-2019	Nov-2029
Federal Express Corporation		100	%	College Station, TX	Warehouse/Distribution	Transportation - Cargo	South		12,080		68,400		0.07	%	Fixed	Apr-2012	Apr-2017
Federal Express Corporation		100	%	Corpus Christi, TX	Warehouse/Distribution	Transportation - Cargo	South		30,212		201,037		0.20	%	Fixed	May-2012	May-2017
Federal Express Corporation Total									198,444		3,076,721		3.10	%
Orbital Sciences Corporation		100	%	Chandler, AZ	Industrial	Aerospace and Defense	West		335,307		3,022,947		3.05	%	CPI	Sep-2014	Sep-2029
The Titan Corporation		100	%	San Diego, CA	Office	Electronics	West		166,403		2,706,799		2.73	%	CPI	Jul-2012	Jul-2017
Schuler AG(a)		33	%	Göppingen, Germany	Industrial	Machinery	Europe		246,380		2,355,476		2.38	%	CPI	Oct-2027	Oct-2047
CheckFree Holdings, Inc.		50	%	Norcross, GA	Office	Business and Commercial Services	South		50,063		945,443		0.95	%	CPI	Dec-2015	Dec-2030
CheckFree Holdings, Inc.		50	%	Norcross, GA	Office	Business and Commercial Services	South		34,150		800,384		0.81	%	Other	Dec-2015	Dec-2030
CheckFree Holdings, Inc.		50	%	Norcross, GA	Office	Business and Commercial Services	South		26,125		606,943		0.61	%	Other	Dec-2015	Dec-2030
CheckFree Holdings, Inc.		50	%	Norcross, GA	Land	Business and Commercial Services	South		1		62,368		0.06	%	Other	Dec-2015	Dec-2030
CheckFree Holdings, Inc.Total									110,339		2,415,138		2.44	%
AutoZone, Inc.		100	%	Decatur, AL	Retail	Retail Stores	South		5,400		44,620		0.05	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Bessemer, AL	Retail	Retail Stores	South		5,400		32,158		0.03	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Phenix City, AL	Retail	Retail Stores	South		5,400		44,620		0.05	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Mobile, AL	Retail	Retail Stores	South		5,400		44,620		0.05	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Chickasaw, AL	Retail	Retail Stores	South		5,400		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Montgomery, AL	Retail	Retail Stores	South		5,400		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Panama City, FL	Retail	Retail Stores	South		5,401		35,345		0.04	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Stores	South		5,000		34,867		0.04	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Stores	South		5,400		47,772		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Stores	South		5,400		54,379		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Columbus, GA	Retail	Retail Stores	South		5,400		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Albany, GA	Retail	Retail Stores	South		5,400		43,262		0.04	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Brunswick, GA	Retail	Retail Stores	South		5,400		39,854		0.04	%	None	Aug-2013	Dec-2038

25

												Percentage of
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage		Annualized Rent		Total Rent(e)			Increase Factor	Lease Expiration	Maximum Term
AutoZone, Inc.		100	%	Augusta, GA	Retail	Retail Stores	South		5,400		34,138		0.03	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Macon, GA	Retail	Retail Stores	South		5,400		49,503		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Collinsville, IL	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Alton, IL	Retail	Retail Stores	Midwest		5,400		44,620		0.05	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Wood River, IL	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Belleville, IL	Retail	Retail Stores	Midwest		5,400		44,620		0.05	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	West Monroe, LA	Retail	Retail Stores	South		5,400		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		5,400		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Lake Charles, LA	Retail	Retail Stores	South		6,480		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Lake Charles, LA	Retail	Retail Stores	South		6,480		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		6,600		21,567		0.02	%	Fixed	Mar-2009	Mar-2024
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		5,401		23,124		0.02	%	Fixed	Apr-2009	Apr-2019
AutoZone, Inc.		100	%	Hammond, LA	Retail	Retail Stores	South		6,480		40,121		0.04	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Maplewood, MO	Retail	Retail Stores	Midwest		6,480		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Overland, MO	Retail	Retail Stores	Midwest		6,480		43,414		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	St. Louis, MO	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Breckenridge, MO	Retail	Retail Stores	Midwest		5,400		44,151		0.04	%	None	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	St. Peters, MO	Retail	Retail Stores	Midwest		5,400		48,957		0.05	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	St. Peters, MO	Retail	Retail Stores	Midwest		6,660		48,718		0.05	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Gastonia, NC	Retail	Retail Stores	East		5,400		52,149		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Charlotte, NC	Retail	Retail Stores	East		5,400		42,283		0.04	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Statesville, NC	Retail	Retail Stores	East		5,400		50,739		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Lenoir, NC	Retail	Retail Stores	East		5,400		50,739		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Shelby, NC	Retail	Retail Stores	East		6,660		30,807		0.03	%	Fixed	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Kannapolis, NC	Retail	Retail Stores	East		6,408		24,069		0.02	%	Fixed	Oct-2010	Oct-2025
AutoZone, Inc.		100	%	Morgantown, NC	Retail	Retail Stores	East		5,400		19,451		0.02	%	Fixed	Oct-2010	Aug-2019
AutoZone, Inc.		100	%	Albuquerque, NM	Retail	Retail Stores	West		5,400		54,642		0.06	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Farmington, NM	Retail	Retail Stores	West		5,400		41,479		0.04	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Lexington, SC	Retail	Retail Stores	East		5,400		50,079		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	East Ridge, TN	Retail	Retail Stores	South		6,480		20,602		0.02	%	Fixed	Oct-2013	Oct-2023
AutoZone, Inc.		100	%	Knoxville, TN	Retail	Retail Stores	South		6,660		23,008		0.02	%	Fixed	May-2009	May-2024
AutoZone, Inc.		100	%	Austin, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Waco, TX	Retail	Retail Stores	South		4,800		37,585		0.04	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Corpus Christi, TX	Retail	Retail Stores	South		6,600		51,679		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Corpus Christi, TX	Retail	Retail Stores	South		6,480		50,739		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Victoria, TX	Retail	Retail Stores	South		6,480		50,739		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Stores	South		5,400		42,283		0.04	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Nederland, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	West Orange, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Houston, TX	Retail	Retail Stores	South		5,400		53,488		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Stores	South		5,400		55,795		0.06	%	None	Aug-2013	Dec-2038
AutoZone, Inc. Total									302,230		2,216,594		2.24	%
Lucent Technologies, Inc.		100	%	Charlotte, NC	Industrial	Electronics	East		568,670		1,993,194		2.01	%	Fixed	Mar-2010	Mar-2016
Bell South Entertainment, Inc.		100	%	Ft. Lauderdale, FL	Warehouse/Distribution	Telecommunications	South		80,450		629,820		0.64	%	Fixed	Jun-2009	Jun-2019
BellSouth Telecommunications, Inc.		100	%	Lafayette, LA	Office	Telecommunications	South		66,846		1,351,150		1.36	%	Fixed	Dec-2009	Dec-2039
BellSouth Corporation Total									147,296		1,980,970		2.00	%
Quebecor Printing USA		100	%	Doraville, GA	Industrial	Media: Printing and Publishing	South		432,559		1,940,625		1.96	%	CPI	Dec-2009	Dec-2034
Career Education Corporation		100	%	Mendota Heights, MN	Other	Healthcare, Education and Childcare	Midwest		136,400		1,892,831		1.91	%	Fixed	May-2011	May-2019
Information Resources, Inc.		33	%	Chicago, IL	Office	Business and Commercial Services	Midwest		30,797		683,141		0.69	%	CPI	Oct-2013	Oct-2023
Information Resources, Inc.		33	%	Chicago, IL	Office	Business and Commercial Services	Midwest		53,195		1,179,801		1.19	%	CPI	Oct-2013	Oct-2015
Information Resources, Inc. Total									83,992		1,862,942		1.88	%
Fiskars Brands, Inc.		100	%	Apopka, FL	Industrial C	hemicals, Plastics, Rubber, and Glas	s South		260,160		1,258,273		1.27	%	CPI	Mar-2010	Mar-2035
Fiskars Brands, Inc.		100	%	Apopka, FL	Industrial C	hemicals, Plastics, Rubber, and Glas	s South		109,377		528,979		0.53	%	CPI	Mar-2010	Mar-2035
Fiskars Brands, Inc.		100	%	Apopka, FL	Industrial C	hemicals, Plastics, Rubber, and Glas	s South		5,292		25,561		0.03	%	CPI	Mar-2010	Mar-2035
Fiskars Brands, Inc. Total									374,829		1,812,813		1.83	%
Pharmaco International, Inc.		100	%	Austin, TX	Industrial	Business and Commercial Services	South		65,160		639,282		0.65	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Warehouse/Distribution	Business and Commercial Services	South		17,588		181,889		0.18	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Office	Business and Commercial Services	South		8,500		92,480		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Office	Business and Commercial Services	South		8,525		92,765		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Office	Business and Commercial Services	South		8,500		92,480		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Office	Business and Commercial Services	South		40,560		413,825		0.42	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.		100	%	Austin, TX	Office	Business and Commercial Services	South		24,603		260,867		0.26	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc. Total									173,436		1,773,588		1.79	%
Sybron Dental Specialties, Inc.		100	%	Romulus, MI	Industrial	Healthcare, Education and Childcare	Midwest		220,000		1,281,052		1.29	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc.		100	%	Glendora, CA	Office	Healthcare, Education and Childcare	West		25,000		489,246		0.49	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc. Total									245,000		1,770,298		1.79	%
Unisource Worldwide, Inc.		100	%	Anchorage, AK	Warehouse/Distribution	Forest Products and Paper	West		44,712		344,803		0.35	%	Fixed	Dec-2009	Dec-2029
Unisource Worldwide, Inc.		100	%	Commerce, CA	Warehouse/Distribution	Forest Products and Paper	West		411,561		1,422,080		1.44	%	Fixed	Apr-2010	Apr-2030
Unisource Worldwide, Inc. Total									456,273		1,766,883		1.78	%
Amylin Pharmaceuticals/SICOR, Inc.		50	%	San Diego, CA	Office	Healthcare, Education and Childcare	West		35,951		835,705		0.84	%	CPI	Jul-2019	Jul-2029
Amylin Pharmaceuticals/SICOR, Inc.		50	%	San Diego, CA	Industrial	Healthcare, Education and Childcare	West		36,205		835,705		0.84	%	CPI	Jul-2019	Jul-2029
Amylin Pharmaceuticals/SICOR, Inc. Total									72,156		1,671,410		1.69	%

26

												Percentage of
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage		Annualized Rent		Total Rent(e)			Increase Factor	Lease Expiration	Maximum Term
Cleo, Inc.		100%		Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		614,274		958,496		0.97	%	CPI	Dec-2010	Dec-2015
Cleo, Inc.		100%		Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		391,896		611,504		0.62	%	CPI	Dec-2010	Dec-2015
Cleo, Inc. Total									1,006,170		1,570,000		1.58	%
BE Aerospace, Inc.		100%		Lenexa, KS	Industrial	Aerospace and Defense	Midwest		130,094		636,472		0.64	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Winston-Salem, NC	Warehouse/Distribution	Aerospace and Defense	East		90,800		255,968		0.26	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Winston-Salem, NC	Industrial	Aerospace and Defense	East		74,026		208,675		0.21	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Winston-Salem, NC	Industrial	Aerospace and Defense	East		50,200		141,515		0.14	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Winston-Salem, NC	Office	Aerospace and Defense	East		43,788		123,435		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Winston-Salem, NC	Industrial	Aerospace and Defense	East		15,402		43,420		0.04	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100%		Dallas, TX	Industrial	Aerospace and Defense	South		22,680		121,233		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc. Total									426,990		1,530,718		1.54	%
Lowe’s Home Improvement Warehouse		100%		Bellevue, WA	Retail	Retail Stores	West		143,352		1,524,347		1.54	%	CPI	Aug-2018	Aug-2018
Sprint Spectrum, L.P.		100%		Rio Rancho, NM	Office	Telecommunications	West		94,730		1,424,561		1.44	%	Fixed	May-2011	May-2021
AT&T Corporation		100%		Bridgeton, MO	Industrial	Telecommunications	Midwest		85,510		1,307,706		1.32	%	Fixed	Sep-2011	Jun-2021
Livho, Inc.		100%		Livonia, MI	Hospitality	Hotels and Gaming	Midwest		158,000		1,200,000		1.21	%	Fixed	Jan-2012	Jan-2012
Hologic, Inc.		36%		Danbury, CT	Industrial	Electronics	East		22,335		221,263		0.22	%	CPI	Aug-2022	Aug-2042
Hologic, Inc.		36%		Bedford, MA	Industrial	Electronics	East		74,520		972,818		0.98	%	CPI	Aug-2022	Aug-2042
Hologic, Inc. Total									96,855		1,194,081		1.21	%
Omnicom Group, Inc.		100%		Venice, CA	Office	Business and Commercial Services	West		77,719		1,193,661		1.20	%	Other	Sep-2010	Sep-2030
United States Postal Service		100%		Bloomingdale, IL	Office	Federal, State and Local Government	Midwest		60,000		1,170,000		1.18	%	Fixed	Apr-2011	Apr-2011
OBI Group(a)		100%		Wroclaw, Poland	Retail	Retail Stores	Europe		113,570		1,029,225		1.04	%	CPI	Dec-2025	Dec-2040
Lockheed Martin Corporation		100%		Webster, TX	Industrial	Business and Commercial Services	South		30,176		294,216		0.30	%	Fixed	Jun-2010	Jun-2013
Lockheed Martin Corporation		100%		King of Prussia, PA	Office	Business and Commercial Services	East		88,578		819,347		0.83	%	Fixed	Jul-2013	Jul-2023
Lockheed Martin Corporation Total									118,754		1,113,563		1.12	%
Anthony’s Manufacturing Company, Inc.		100%		San Fernando, CA	Industrial	Consumer and Durable Goods	West		39,920		238,343		0.24	%	Other	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100%		San Fernando, CA	Industrial	Consumer and Durable Goods	West		95,420		569,819		0.58	%	Other	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100%		San Fernando, CA	Industrial	Consumer and Durable Goods	West		7,220		43,127		0.04	%	Other	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100%		San Fernando, CA	Industrial	Consumer and Durable Goods	West		40,285		240,527		0.24	%	Other	May-2012	May-2012
Anthony’s Manufacturing Company, Inc. Total									182,845		1,091,816		1.10	%
Werner Co.		100%		Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		409,600		816,480		0.82	%	Fixed	Jul-2015	Jul-2021
Werner Co.		100%		Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		162,604		293,962		0.30	%	Fixed	Jul-2015	Jul-2021
Werner Co. Total									572,204		1,110,442		1.12	%
United Space Alliance, LLC		100%		Webster, TX	Industrial	Business and Commercial Services	South		5,856		63,245		0.06	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC		100%		Webster, TX	Industrial	Business and Commercial Services	South		38,150		412,020		0.42	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC		100%		Webster, TX	Industrial	Business and Commercial Services	South		2,044		22,075		0.02	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC		100%		Webster, TX	Warehouse/Distribution	Business and Commercial Services	South		91,800		572,832		0.58	%	None	Sep-2010	Sep-2012
United Space Alliance LLC Total									137,850		1,070,172		1.08	%
United Stationers Supply Company		100%		New Orleans, LA	Warehouse/Distribution	Forest Products and Paper	South		59,000		366,539		0.37	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company		100%		Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		75,000		317,385		0.32	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company		100%		San Antonio, TX	Warehouse/Distribution	Forest Products and Paper	South		63,098		350,913		0.35	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company Total									197,098		1,034,837		1.04	%
Cree Microwave, LLC		100%		Sunnyvale, CA	Industrial	Electronics	West		50,311		1,026,297		1.04	%	CPI	Nov-2011	Nov-2026
Swat-Fame, Inc.		100%		City of Industry, CA	Industrial	Textiles, Leather, and Apparel	West		233,205		978,153		0.99	%	CPI	Dec-2010	Dec-2020
Consolidated Systems, Inc.		60	%	Columbia, SC	Office Mini	ng, Metals, and Primary Metal Indust	ries East		24,459		68,424		0.07	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Industrial Mini	ng, Metals, and Primary Metal Indust	ries East		294,249		823,165		0.83	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Warehouse/Distribution Mini	ng, Metals, and Primary Metal Indust	ries East		13,792		38,582		0.04	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Warehouse/Distribution Mini	ng, Metals, and Primary Metal Indust	ries East		6,266		17,529		0.02	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc. Total									338,766		947,700		0.96	%
Sports Wholesale, Inc.		100%		Birmingham, AL	Warehouse/Distribution	Retail Stores	South		219,312		876,900		0.88	%	CPI	Dec-2014	Dec-2029
24 Hour Fitness USA, Inc.		100%		Austin, TX	Other	Leisure, Amusement, Entertainment	South		43,935		907,245		0.92	%	CPI	Jun-2017	Jun-2033
NVR, Inc.		100%		Thurmont, MD	Industrial	Construction and Building	East		150,468		687,992		0.69	%	CPI	Mar-2014	Mar-2030
NVR, Inc.		100%		Farmington, NY	Industrial	Construction and Building	East		29,273		132,805		0.13	%	CPI	Mar-2014	Mar-2030
NVR, Inc. Total									179,741		820,797		0.83	%
Deloro Satellite Company, Inc.		100%		Goshen, IN	Industrial	Mining, Metals, and Primary Metal Industries	Midwest		52,000		643,069		0.65	%	Fixed	Feb-2018	Feb-2023
Western Union Financial Services, Inc.		100%		Bridgeton, MO	Office	Banking	Midwest		78,080		637,133		0.64	%	Fixed	Nov-2016	Nov-2026
Alcoa, Inc.		100%		Salisbury, NC	Warehouse/Distribution	Machinery	East		200,000		495,082		0.50	%	Fixed	Jun-2010	Jun-2020

27

												Percentage of
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage		Annualized Rent		Total Rent(e)			Increase Factor	Lease Expiration	Maximum Term
Wal-Mart Stores, Inc.		100	%	Greenfield, IN	Warehouse/Distribution	Retail Stores	Midwest		82,620		567,745		0.57	%	None	Jan-2010	Jan-2020
Vertafore, Inc.		100	%	College Station, TX	Office	Telecommunications	South		33,400		548,741		0.55	%	Fixed	Dec-2009	Dec-2015
Childtime Childcare, Inc.		34	%	Chandler, AZ	Other	Healthcare, Education and Childcare	West		2,026		35,254		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Tucson, AZ	Other	Healthcare, Education and Childcare	West		2,165		36,751		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Alhambra, CA	Other	Healthcare, Education and Childcare	West		2,262		53,011		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Chino, CA	Other	Healthcare, Education and Childcare	West		2,166		46,300		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Garden Grove, CA	Other	Healthcare, Education and Childcare	West		2,848		45,526		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Tustin, CA	Other	Healthcare, Education and Childcare	West		2,264		52,598		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Westland, MI	Other	Healthcare, Education and Childcare	Midwest		2,472		26,376		0.03	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Westland, MI	Other	Healthcare, Education and Childcare	Midwest		2,787		34,583		0.03	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Canton, MI	Other	Healthcare, Education and Childcare	Midwest		2,311		47,797		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Carrollton, TX	Other	Healthcare, Education and Childcare	South		2,438		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Duncanville, TX	Other	Healthcare, Education and Childcare	South		2,438		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Lewisville, TX	Other	Healthcare, Education and Childcare	South		2,440		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc. Total									28,617		516,169		0.52	%
Alstom Power		100	%	Erlanger, KY	Warehouse/Distribution	Business and Commercial Services	East		197,400		484,746		0.49	%	Fixed	May-2013	May-2013
Jada Toys, Inc.		100	%	City of Industry, CA	Industrial	Consumer Non-durable Goods	West		92,595		457,320		0.46	%	Fixed	Apr-2012	Apr-2017
Affiliated Foods Southwest, Inc.		100	%	Hope, AR	Retail	Grocery	South		35,784		75,144		0.08	%	CPI	Mar-2012	Mar-2037
Affiliated Foods Southwest, Inc.		100	%	Little Rock, AR	Retail	Grocery	South		21,932		34,745		0.04	%	CPI	Mar-2012	Mar-2022
Affiliated Foods Southwest, Inc.		100	%	Little Rock, AR	Retail	Grocery	South		64,358		295,611		0.30	%	Fixed	Jan-2009	Jan-2024
Affiliated Foods Southwest, Inc. Total									122,074		405,500		0.41	%
The Retail Distribution Group, Inc.		40	%	Grand Rapids, MI	Warehouse/Distribution	Beverages, Food, and Tobacco	Midwest		71,784		394,531		0.40	%	Fixed	Aug-2009	Aug-2013
Kmart Corporation		100	%	Citrus Heights, CA	Retail	Retail Stores	West		89,760		180,000		0.18	%	None	May-2011	May-2026
Kmart Corporation		100	%	Drayton Plains, MI	Retail	Retail Stores	Midwest		103,018		210,000		0.21	%	None	Mar-2011	Mar-2026
Kmart Corporation Total									192,778		390,000		0.39	%
Faurecia Exhaust Systems		100	%	Toledo, OH	Office	Automobile	Midwest		61,000		387,415		0.39	%	CPI	Nov-2022	Nov-2022
Petrocon Engineering, Inc.		100	%	Beaumont, TX	Office	Business and Commercial Services	South		8,580		76,362		0.08	%	Fixed	Dec-2011	Dec-2014
Petrocon Engineering, Inc.		100	%	Beaumont, TX	Office	Business and Commercial Services	South		34,300		304,584		0.31	%	Fixed	Dec-2011	Dec-2014
Petrocon Engineering, Inc. Total									42,880		380,946		0.38	%
Pioneer Credit Recovery, Inc.		100	%	Moorestown, NJ	Office	Business and Commercial Services	East		30,000		360,000		0.36	%	Fixed	Apr-2012	Apr-2018
S&ME, Inc.		100	%	Raleigh, NC	Office	Business and Commercial Services	East		27,770		308,940		0.31	%	Fixed	Jul-2016	Jul-2026
The Roof Center, Inc.		100	%	Manassas, VA	Industrial	Construction and Building	East		60,446		293,732		0.30	%	Fixed	Jul-2009	Jul-2009
Qwest Communications, Inc.		100	%	Scottsdale, AZ	Industrial	Telecommunications	West		2,900		178,358		0.18	%	Fixed	Feb-2012	Feb-2017
Qwest Communications, Inc.		100	%	Scottsdale, AZ	Industrial	Telecommunications	West		1,560		95,946		0.10	%	Fixed	Feb-2012	Feb-2017
Qwest Communications, Inc. Total									4,460		274,304		0.28	%
Penberthy, Inc.		100	%	Prophetstown, IL	Industrial Mini	ng, Metals, and Primary Metal Indust	ries Midwest		161,878		268,890		0.27	%	CPI	Apr-2011	Apr-2026
Honeywell International, Inc.		100	%	Houston, TX	Warehouse/Distribution	Aerospace and Defense	South		32,320		228,828		0.23	%	None	Sep-2010	Sep-2010
Honeywell International, Inc.		100	%	Houston, TX	Land	Aerospace and Defense	South		1		36,000		0.04	%	None	Sep-2010	Sep-2010
Honeywell International, Inc. Total									32,321		264,828		0.27	%
Tubular Metal Systems		100	%	Pinconning, MI	Industrial	Automobile	Midwest		220,588		297,684		0.30	%	CPI	Jul-2013	Dec-2022
Bell Atlantic Corporation		100	%	Milton, VT	Industrial	Telecommunications	East		30,624		221,438		0.22	%	Fixed	Feb-2013	Feb-2013
Ace Hardware		100	%	Houston, TX	Retail	Retail Stores	South		23,569		212,121		0.21	%	Fixed	Mar-2016	Mar-2026
Multi-Tenant Building		100	%	Broomfield, CO	Office	Various	West		52,040		207,680		0.21	%	Various	Various	Various
Xerox Corporation		100	%	Hot Springs, AR	Retail	Machinery	South		36,850		180,565		0.18	%	Fixed	May-2011	May-2021
Continental Airlines, Inc.		100	%	Houston, TX	Warehouse/Distribution	Transportation - Personal	South		25,125		163,500		0.16	%	Fixed	Jul-2013	Jul-2013
Winn-Dixie Stores, Inc.		100	%	Brewton, AL	Retail	Grocery	South		30,625		134,500		0.14	%	None	Oct-2010	Oct-2030
Golder Associates Inc.		100	%	Houston, TX	Office	Business and Commercial Services	South		3,330		30,768		0.03	%	Fixed	Oct-2010	Oct-2020
Golder Associates Inc.		100	%	Houston, TX	Office	Business and Commercial Services	South		8,066		74,760		0.08	%	None	Oct-2010	Oct-2020
Golder Associates Inc. Total									11,396		105,528		0.11	%
Custom Training Group, Inc.		100	%	Houston, TX	Office H	ealthcare, Education and Childcare	South		7,248		58,200		0.06	%	Fixed	Dec-2008	Dec-2011
Custom Training Group, Inc.		100	%	Houston, TX	Office H	ealthcare, Education and Childcare	South		4,456		41,172		0.04	%	None	Dec-2008	Dec-2008
Custom Training Group, Inc. Total									11,704		99,372		0.10	%
Raytheon Company		100	%	Webster, TX	Industrial	Business and Commercial Services	South		9,138		82,248		0.08	%	Fixed	Jul-2010	Jul-2025
The Boeing Company		100	%	Houston, TX	Warehouse/Distribution	Aerospace and Defense	South		10,960		76,320		0.08	%	Fixed	Jan-2011	Jan-2013
Bike Barn Holding Company, Inc.		100	%	Houston, TX	Retail	Retail Stores	South		6,216		71,280		0.07	%	Fixed	Aug-2010	Aug-2015

28

Percentage of

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage

Annualized Rent

Total Rent(e)

Increase Factor

Lease Expiration

Maximum Term

Kenyon International Emergency Services

100

%

Houston, TX

Warehouse/Distribution H

ealthcare, Education and Childcare

South

17,725

70,014

0.07

%

None

Oct-2009

Oct-2019

Olmsted Kirk Paper Company

100

%

Beaumont, TX

Office

Forest Products and Paper

South

5,760

46,656

0.05

%

Fixed

Dec-2012

Dec-2012

SBH Holdings, LLC

100

%

Houston, TX

Office H

ealthcare, Education and Childcare

South

5,632

42,578

0.04

%

Fixed

Aug-2013

Aug-2016

Jerry Prater Trucking Incorporated

100

%

Salisbury, NC

Industrial

Transportation - Cargo

East

13,284

37,200

0.04

%

Fixed

Sep-2009

Sep-2012

Pittsburgh Institute of Aeronautics(c)

100

%

West Mifflin, PA

Retail

Transportation - Cargo

East

1

19,800

0.02

%

None

MTM

MTM

Photo Center(c)

100

%

Hot Springs, AR

Retail

Machinery

South

340

4,800

0.00

%

None

MTM

MTM

Action Buys Cars Inc.(c)

100

%

Montgomery, AL

Retail

Retail Stores

South

1

9,900

0.01

%

None

MTM

MTM

Classic Cuisines Catering

100

%

Bloomingdale, IL

Office

Hotels and Gaming

Midwest

1,000

9,000

0.01

%

None

Oct-2008

Oct-2008

Vacant

100

%

Bloomingdale, IL

Office

N/A

Midwest

55,000

—

—

N/A

N/A

N/A

Vacant

100

%

Broomfield, CO

Office

N/A

West

52,415

—

—

N/A

N/A

N/A

Vacant

100

%

Chattanooga, TN

Industrial

N/A

South

242,317

—

—

N/A

N/A

N/A

Vacant

100

%

College Station,TX

Office

N/A

South

19,152

—

—

N/A

N/A

N/A

Vacant

100

%

Houston, TX

Office

N/A

South

20,908

—

—

N/A

N/A

N/A

Vacant

100

%

Jacksonville, FL

Warehouse/Distribution

N/A

South

240,000

—

—

N/A

N/A

N/A

Vacant

100

%

Montgomery, AL

Retail

N/A

South

32,690

—

—

N/A

N/A

N/A

Vacant

100

%

Moorestown, NJ

Office

N/A

East

35,567

—

—

N/A

N/A

N/A

Vacant

100

%

Salisbury, NC

Warehouse/Distribution

N/A

East

87,000

—

—

N/A

N/A

N/A

Vacant

100

%

Salisbury, NC

Office

N/A

East

10,681

—

—

N/A

N/A

N/A

Vacant

100

%

San Leandro, CA

Land

N/A

West

1

—

—

N/A

N/A

N/A

Vacant

100

%

Webster, TX

Industrial

N/A

South

23,214

—

—

N/A

N/A

N/A

Vacant

100

%

West Mifflin, PA

Retail

N/A

East

121,053

—

—

N/A

N/A

N/A

Vacant Total

939,998

—

—

Grand Total(d)

16,915,908

$

99,092,345

100

%

(a)	Rents reflect a conversion rate of 1.4449 USD/EUR as of September 30, 2008.
(b)	INSEE construction index, an index published quarterly by the French Government.
(c)	Tenant is occupying property on a month-to-month (MTM) basis.
(d)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2008.
(e)	Numbers may not add due to rounding.

29