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

Exhibit 99.1

W. P. Carey & Co. LLC
Supplemental Operating and Financial Data

As of March 31, 2011

Important Disclosures About this Supplemental Package

As used in this supplemental package, the terms “W. P. Carey,” “WPC LLC,” “the Company,” “we,” “us” and “our” include W. P. Carey & Co. LLC, its consolidated subsidiaries and predecessors, unless otherwise indicated. “GAAP” means generally accepted accounting principles in the United States. “CPA^® REITs” means Corporate Property Associates 14 Incorporated (“CPA^®:14”), Corporate Property Associates 15 Incorporated (“CPA^®:15”), Corporate Property Associates 16 — Global Incorporated (“CPA^®:16 — Global”) and Corporate Property Associates 17 — Global Incorporated (“CPA^®:17 — Global”). The “REITs” means the CPA^® REITs and Carey Watermark Investors Incorporated.

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 — as adjusted (“AFFO”), adjusted cash flow from operating activities 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 Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2010. We do not undertake to revise or update any forward-looking statements.

2

W. P. CAREY & CO. LLC
Supplemental Operating and Financial Data
As of March 31, 2011

Contents

Company Overview	4
Financial Highlights	5
Reconciliation of Net Income to EBITDA	6
Reconciliation of Net Income to Funds From Operations — as adjusted (AFFO)	7
Adjusted Cash Flow from Operating Activities	8
Revenue Stability Analysis	9
Portfolio Debt Overview	10
Detailed Debt Summary	11
2011 Investment Activity	13
Portfolio Analysis — Rent Contribution and Historical Occupancy	14
Portfolio Diversification Analysis by Property Type	15
Portfolio Diversification Analysis by Tenant Industry	16
Portfolio Diversification Analysis by Geography	17
Portfolio Lease Maturity Analysis	18
Consolidated Balance Sheets	19
Consolidated Statements of Income	20
Consolidated Statements of Cash Flows	21
Detailed Property Summary	22

3

W. P. CAREY & CO. LLC
Company Overview
March 31, 2011

Key Company Contacts		Executive Offices
Wm. Polk Carey	Chairman of the Board and Director	50 Rockefeller Plaza
Trevor P. Bond	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, 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
Andrew T. DiZio	Janney Montgomery Scott LLC

	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Stock Data (NYSE: WPC)	2011			2010			2010			2010			2010
High Price	$	38.00		$	33.97		$	30.86		$	31.00		$	30.32
Low Price		29.75			28.83			26.49			26.61			24.69
Closing Price		35.70			31.29			28.95			27.64			29.38
Distributions declared per share — annualized	$	2.05		$	2.04		$	2.03		$	2.02		$	2.02
Distribution yield (annualized distribution / closing stock price)		5.74	%		6.52	%		7.01	%		7.31	%		6.86	%
Shares outstanding at quarter end		39,614,250			39,454,847			39,481,027			39,323,929			39,220,182
Market value of outstanding shares at quarter end (in thousands)	$	1,414,229		$	1,234,542		$	1,142,976		$	1,086,913		$	1,152,289

4

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

These financial highlights include non-GAAP financial measures, including EBITDA, AFFO and adjusted cash flow from operating activities. 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
	March 31, 2011		December 31, 2010		September 30, 2010		June 30, 2010		March 31, 2010
EBITDA
Investment management	$	21,359	$	27,561	$	10,296	$	19,503	$	12,526
Real estate ownership		19,513		14,173		19,837		20,407		16,186
Total	$	40,872	$	41,734	$	30,133	$	39,910	$	28,712
AFFO
Investment management	$	20,650	$	18,194	$	7,230	$	15,346	$	9,471
Real estate ownership		18,492		18,083		20,377		23,574		18,595
Total	$	39,142	$	36,277	$	27,607	$	38,920	$	28,066
EBITDA Per Share (Diluted)
Investment management	$	0.53	$	0.69	$	0.26	$	0.49	$	0.32
Real estate ownership		0.49		0.35		0.50		0.52		0.41
Total	$	1.02	$	1.04	$	0.76	$	1.01	$	0.73
AFFO Per Share (Diluted)
Investment management	$	0.51	$	0.45	$	0.18	$	0.38	$	0.24
Real estate ownership		0.46		0.45		0.51		0.60		0.47
Total	$	0.97	$	0.90	$	0.69	$	0.98	$	0.71

	Three months ended March 31,
	2011			2010
Adjusted Cash Flow From Operating Activities
Adjusted cash flow	$	24,226		$	27,675
Adjusted cash flow per share (diluted)	$	0.60		$	0.70
Distributions declared per share	$	0.512		$	0.504
Payout ratio (distributions per share/adjusted cash flow per share)
		85	%		72	%

5

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

	Three months ended
	March 31, 2011		December 31, 2010		September 30, 2010		June 30, 2010		March 31, 2010
Investment Management
Net income from investment management attributable to W. P. Carey members(a)	$	13,177	$	15,731	$	6,095	$	11,968	$	7,780
Adjustments:
Provision for income taxes		7,380		10,667		3,045		6,373		3,575
Depreciation and amortization		802		1,163		1,156		1,162		1,171
EBITDA — investment management	$	21,359	$	27,561	$	10,296	$	19,503	$	12,526
EBITDA per share (diluted)	$	0.53	$	0.69	$	0.26	$	0.49	$	0.32
Real Estate Ownership
Net income from real estate ownership attributable to W. P. Carey members(a)	$	10,166	$	4,050	$	10,251	$	11,464	$	6,633
Adjustments:
Interest expense		4,440		4,460		4,298		3,765		3,711
Provision for income taxes		194		915		332		378		537
Depreciation and amortization		4,648		4,748		4,911		4,653		4,927
Reconciling items attributable to discontinued operations		65		—		45		147		378
EBITDA — real estate ownership	$	19,513	$	14,173	$	19,837	$	20,407	$	16,186
EBITDA per share (diluted)	$	0.49	$	0.35	$	0.50	$	0.52	$	0.41
Total Company
EBITDA	$	40,872	$	41,734	$	30,133	$	39,910	$	28,712
EBITDA per share (diluted)	$	1.02	$	1.04	$	0.76	$	1.01	$	0.73
Diluted weighted average shares outstanding		40,242,706		40,104,715		39,717,931		39,510,231		39,495,845

(a) Effective January 1, 2011, we include our equity investments in the REITs in our real estate ownership segment. The equity income (loss) from the REITs that is now included in our real estate ownership segment represents our proportionate share of the revenue less expenses of the net-leased properties held by the REITs. This treatment is consistent with that of our directly-owned properties. Results for the three months ended December 31, September 30, June 30 and March 31, 2010 have been adjusted to reflect this reclassification.

Non-GAAP Financial Disclosure

EBITDA as disclosed represents earnings before interest, taxes, depreciation and amortization. We believe that EBITDA is a useful supplemental measure to investors and analysts for assessing the performance of our business segments, although it does not represent net income that is computed in accordance with GAAP, because it removes the impact of our capital structure and asset base from our operating results and because it is helpful when comparing our operating performance to that of companies in our industry without regard to such items, which can vary substantially from company to company. Accordingly, EBITDA should not be considered as an alternative to net income as an indicator of our financial performance. EBITDA may not be comparable to similarly titled measures of other companies. Therefore, we use EBITDA as one measure of our operating performance when we formulate corporate goals, evaluate the effectiveness of our strategies and determine executive compensation.

6

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

	Three months ended
	March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010
Investment Management
Net income from investment management attributable to W. P. Carey members(a)	$	13,177		$	15,731		$	6,095		$	11,968		$	7,780
Amortization, deferred taxes and other non-cash charges		7,473			2,463			1,135			3,378			1,691
AFFO — investment management	$	20,650		$	18,194		$	7,230		$	15,346		$	9,471
AFFO per share (diluted)	$	0.51		$	0.45		$	0.18		$	0.38		$	0.24
Real Estate Ownership
Net income from real estate ownership attributable to W. P. Carey members(a)	$	10,166		$	4,050		$	10,251		$	11,464		$	6,633
Gain on sale of real estate, net		(781	)		—			—			(56	)		(404	)
Other gains (losses), net		—			(755	)		—			—			—
Depreciation, amortization and other non-cash charges		3,840			4,551			3,527			4,604			5,405
Straight-line and other rent adjustments		(417	)		128			148			99			(80	)
Impairment charges		—			6,763			481			985			7,152
AFFO from equity investments		5,794			3,503			6,042			6,692			57
Noncontrolling interests’ share of AFFO		(110	)		(157	)		(72	)		(214	)		(168	)
AFFO — real estate ownership	$	18,492		$	18,083		$	20,377		$	23,574		$	18,595
AFFO per share (diluted)	$	0.46		$	0.45		$	0.51		$	0.60		$	0.47
Total Company
AFFO	$	39,142		$	36,277		$	27,607		$	38,920		$	28,066
AFFO per share (diluted)	$	0.97		$	0.90		$	0.69		$	0.98		$	0.71
Diluted weighted average shares outstanding		40,242,706			40,104,715			39,717,931			39,510,231			39,495,845

(a) Effective January 1, 2011, we include our equity investments in the REITs in our real estate ownership segment. The equity income (loss) from the REITs that is now included in our real estate ownership segment represents our proportionate share of the revenue less expenses of the net-leased properties held by the REITs. This treatment is consistent with that of our directly-owned properties. Results for the three months ended December 31, September 30, June 30 and March 31, 2010 have been adjusted to reflect this reclassification.

Non-GAAP Financial Disclosure

Funds from operations (“FFO”) is a non-GAAP financial measure that is commonly used by investors and analysts 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 or AFFO 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, but should be used in conjunction with GAAP net income. FFO or AFFO disclosed by other real estate companies may not be comparable to our AFFO 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 AFFO 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, and we therefore use AFFO as one measure of our operating performance when we formulate corporate goals, evaluate the effectiveness of our strategies, and determine executive compensation. As a result, we believe that AFFO is a useful supplemental measure for investors to consider because it will help them to better understand and measure the performance of our business over time without the potentially distorting impact of these short-term fluctuations.

7

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

	Three months ended March 31,
	2011			2010
Cash flow from operating activities	$	6,686		$	13,623
Adjustments:
Distributions received from equity investments in real estate in excess of equity income (a)		1,888			1,881
Distributions paid to noncontrolling interests, net(b)		(815	)		(177	)
Changes in working capital(c)		16,467			12,348
Adjusted cash flow from operating activities	$	24,226		$	27,675
Adjusted cash flow per share (diluted)	$	0.60		$	0.70
Distributions declared per share	$	0.512		$	0.504
Payout ratio (distributions per share/adjusted cash flow per share)		85	%		72	%
Diluted weighted average shares outstanding		40,242,706			39,495,845

(a)	We take a substantial portion of our asset management revenue in shares of the CPA® REITs. 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.
(b)	Represents noncontrolling interests’ share of distributions made by ventures that we consolidate in our financial statements.
(c)	Timing differences arising from the payment of certain liabilities and the receipt of certain receivables in a period other than that in which the item is recognized in determining net income may distort the actual cash flow that our core operations generate. We adjust our GAAP cash flow from operating activities to record such amounts in the period in which the item was actually incurred.

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities refers to our cash provided by operating activities, as determined in accordance with GAAP, adjusted primarily to reflect timing differences between the period an expense is incurred and paid, to add cash distributions that we receive from our investments in unconsolidated real estate joint ventures in excess of our equity investment in the joint ventures, and to subtract cash distributions that we make to our noncontrolling partners in real estate joint ventures that we consolidate. We hold a number of interests in real estate joint ventures, and we believe that adjusting our GAAP cash provided by operating activities to reflect these actual cash receipts and cash payments may give investors a more accurate picture of our actual cash flow than GAAP cash provided by operating activities alone and that it is a useful supplemental measure for investors to consider. We also believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations, and we use this measure when evaluating distributions to shareholders and as one measure of our operating performance when we determine executive compensation. Adjusted cash flow from operating activities should not be considered as an alternative to cash provided by 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.

8

W. P. CAREY & CO. LLC
Revenue Stability Analysis (Pro rata Basis)
(in thousands)

	Three months ended
	March 31, 2011						December 31, 2010						September 30, 2010						June 30, 2010						March 31, 2010
	Revenue			%			Revenue			%			Revenue			%			Revenue			%			Revenue			%
Asset management revenues	$	19,820			31	%	$	19,127			28	%	$	19,219			41	%	$	19,080			33	%	$	18,820			36	%
Pro rata net lease revenues		27,453			44	%		26,739			38	%		26,828			57	%		26,645			45	%		26,654			51	%
		47,273			75	%		45,866			66	%		46,047			98	%		45,725			78	%		45,474			87	%
Structuring revenue(a)		15,945			25	%		23,881			34	%		708			2	%		13,102			22	%		6,834			13	%
Total Adjusted Revenue	$	63,218			100	%	$	69,747			100	%	$	46,755			100	%	$	58,827			100	%	$	52,308			100	%
Reconciliation of Total Adjusted Revenue
Total revenue — as reported	$	77,532					$	81,969					$	58,954					$	70,396					$	63,091
Less: Reimbursed costs from affiliates(b)		(17,719	)					(13,713	)					(15,908	)					(15,354	)					(15,048	)
Less: Wholesaling revenue(b)		(3,280	)					(4,503	)					(2,260	)					(2,230	)					(2,103	)
Add: Pro rata share of revenues from equity investments		7,760						6,889						6,918						6,895						7,292
Less: Pro rata share of revenues due to noncontrolling interests		(1,075	)					(895	)					(949	)					(880	)					(924	)
Total Adjusted Revenue	$	63,218					$	69,747					$	46,755					$	58,827					$	52,308
Reconciliation of Total Pro Rata Net Lease Revenues
Lease revenues — as reported	$	15,460					$	15,403					$	16,203					$	15,833					$	16,465
Add: Pro rata share of revenues from equity investments		7,760						6,889						6,918						6,895						7,292
Less: Pro rata share of revenues due to noncontrolling interests		(1,075	)					(895	)					(949	)					(880	)					(924	)
Add: Other real estate income(c)		5,308						5,342						4,656						4,797						3,821
Total Pro Rata Net Lease Revenues	$	27,453					$	26,739					$	26,828					$	26,645					$	26,654

(a)	We earn structuring revenue on acquisitions structured on behalf of the REITs we manage and expect significant period-to-period variation in such revenue based on changes in investment volume. Investments structured on behalf of the REITs totaled approximately $345 million, $593 million, $13 million, $291 million and $149 million for the three months ended March 31, 2011, December 31, 2010, September 30, 2010, June 30, 2010 and March 31, 2010, respectively.
(b)	Total adjusted revenue excludes reimbursements of costs received from the affiliated 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 substantially offset by underwriting costs incurred in connection with the offering.
(c)	Other real estate income generally consists of revenue from Carey Storage Management LLC (“Carey Storage”), a subsidiary that invests in domestic self-storage properties, and Livho, Inc., a subsidiary that operates a hotel franchise. Other real estate income also includes lease termination payments and other non-rent related revenues from real estate ownership, and as a result, we expect Other real estate income to fluctuate period-to-period.

Note: Amounts presented for prior periods do not reflect subsequent adjustments to historical amounts presented for assets reclassified as held for sale or sold.

Non-GAAP Financial Disclosure

Total adjusted revenue is a non-GAAP financial measure that represents revenues on a GAAP basis adjusted for our pro rata share of revenues from equity investments as well as the pro rata share of revenues due to noncontrolling interests. We believe that total adjusted revenue is useful to investors and analysts as a supplemental measure of revenues from our core operations, and we use it to evaluate the stability of our underlying revenue streams. Total adjusted revenue should not be considered as an alternative to revenues computed on a GAAP basis as a measure of our profitability. Total adjusted revenue may not be comparable to similarly titled measures of other companies.

9

W. P. CAREY & CO. LLC
Portfolio Debt Overview (Pro rata Basis)
As of March 31, 2011
(in thousands)

Portfolio Debt Maturity
Year of Maturity	Outstanding Balance
2011	$	143,884	(a)
2012		29,857
2013		1,156
2014		86,482
2015		49,647
2016		35,962
2017		36,103
2018		9,042
2019		25,230
2020		60,176
2021		5,849
2022		—
2023		5,025
Total	$	488,413

Fixed and Variable Rate Debt Analysis
Non-Recourse Debt	Outstanding Balance
Fixed	$	191,307
Fixed — Future Rate Reset		85,463
Fixed — Capped		14,354
Variable — Capped		22,188
Fixed — Swap Agreement		48,351
Variable		5,000
		366,663
Recourse Debt
Variable — Line of Credit		121,750
Total Debt	$	488,413

(a) Amount includes outstanding recourse debt on the line of credit, which expires in June 2011. In March 2011, we notified the lender of our intention to renew this line. Subsequent to renewal, it expires in June 2012.

10

W. P. CAREY & CO. LLC
Detailed Debt Summary (Pro rata Basis)
As of March 31, 2011
(in thousands)

		Current
Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Outstanding Balance
Billipp Portfolio(a)	Variable		1.51	%	May-2011	$	5,000
Career Education Corporation	Fixed		7.58	%	Jun-2011		6,567
24 Hour Fitness USA, Inc.	Fixed		7.50	%	Aug-2011		2,751
Sprint Spectrum, LP	Fixed		7.64	%	Aug-2011		7,816
Qwest Communications, Inc.	Fixed		7.50	%	Jun-2012		1,336
AutoZone, Inc. — Series C	Fixed		6.85	%	Aug-2012		319
BE Aerospace, Inc.	Fixed		6.11	%	Nov-2012		8,116
Faurecia Exhaust Systems, Inc.	Fixed		5.16	%	Nov-2012		2,364
Anthony’s Manufacturing Company	Fixed		5.11	%	Nov-2012		8,197
Alstom Power, Inc. and Werner Co.	Fixed		5.18	%	Dec-2012		9,525
AutoZone, Inc. — Series D	Fixed		6.85	%	Aug-2013		1,156
US Airways Group, Inc. (75%)	Fixed — Capped		4.23	%	Apr-2014		14,354
The New York Times Company (17.75%)	Variable — Capped		2.81	%	Sep-2014		22,188
Carrefour France, SAS (46%)(b)	Fixed — Future Rate Reset		5.55	%	Dec-2014		49,940
Hibbett Sports	Fixed — Swap		6.45	%	May-2015		4,651
Lowe’s Home Improvement Warehouse	Fixed		4.87	%	Sep-2015		8,722
Bouygues Telecom, S.A. (Tours) (95%)(b)	Fixed — Future Rate Reset		3.86	%	Oct-2015		6,292
The American Bottling Company	Fixed		5.13	%	Nov-2015		29,982
CheckFree Holdings, Inc. (50%)	Fixed		6.18	%	Jun-2016		14,519
Self-Storage Facility — Bentonville, AR (40%)	Fixed		6.41	%	Jul-2016		832
Self-Storage Facility — Tallahassee, FL (40%)	Fixed		6.05	%	Oct-2016		1,574
Bouygues Telecom, S.A. (Illkirch-Graffenstaden) (75%)(b) (c)	Fixed — Future Rate Reset		5.01	%	Oct-2016		12,243
Consolidated Systems, Inc. (60%)	Fixed		5.87	%	Nov-2016		6,794
Hellweg Die Profi-Baumärkte GmbH & Co KG (5%)(b)	Fixed		5.49	%	Jan-2017		983
Amylin Pharmaceuticals, Inc. (50%)	Fixed		6.20	%	Jul-2017		17,547
Medica France, S.A. (46%)(b)	Fixed		5.63	%	Oct-2017		17,573

11

W. P. CAREY & CO. LLC
Detailed Debt Summary (Pro rata Basis)
As of March 31, 2011
(in thousands)

		Current
Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Outstanding Balance
OBI Wroclaw(b)	Fixed — Swap		5.48	%	Mar-2018	$	9,042
Self-Storage Portfolio (40%)(c)	Fixed — Future Rate Reset		7.03	%	Feb-2019/Mar-2019		12,110
Orbital Sciences Corporation	Fixed		7.75	%	Jul-2019		13,120
JPMorgan Chase Bank, N.A.	Fixed — Swap		5.47	%	Jul-2020		34,658
Self-Storage Facilities — Chicago, IL (40%)	Fixed — Future Rate Reset		6.25	%	Aug-2020		2,156
Self-Storage Facility — Pensacola, FL	Fixed — Future Rate Reset		6.25	%	Nov-2020		1,864
Federal Express Corporation (40%)	Fixed		5.48	%	Dec-2020		21,498
Self-Storage Facility — Chicago, IL (40%)	Fixed — Future Rate Reset		6.63	%	Jan-2021		858
Information Resources, Inc. (33%)	Fixed		5.92	%	Feb-2021		4,991
Hologic, Inc. (36%)	Fixed		6.40	%	May-2023		5,025
Total Non-Recourse Debt			5.50	%(b)			366,663
Unsecured Line of Credit(d)	Variable		1.15	%	Jun-2011		121,750
Total Debt			4.42	%(b)		$	488,413

(a)	We anticipate refinancing this loan at the time of maturity for a term of three years, with two 1-year extension options.
(b)	Debt balance calculated using an exchange rate of 1.4099 EUR/USD as of March 31, 2011.
(c)	Reflects weighted average interest rate for the applicable debt.
(d)	In March 2011, we notified the lender of our intention to renew this line. Subsequent to renewal, it expires in June 2012.

12

W. P. CAREY & CO. LLC
2011 Investment Activity
As of March 31, 2011
(in thousands, except square footage)

Investment Activity

Acquisitions — CPA^® REITs

Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Purchase Price		Closing Date	Property Type	Gross Square Footage
CPA®:17 — Global	Terminal Freezers, LLC	Oxnard & Watsonville, CA	$	99,634	January-11	Warehouse/Distribution		866,525
CPA®:15 (15%), CPA®:17 — Global (85%)	C1000 Logistiek Vastgoed B.V.	various locations in The Netherlands		207,635	January-11	Warehouse/Distribution		2,046,858
CPA®:17 — Global	Harbor Freight Tools USA, Inc.	Dillion, SC		32,060	March-11	Warehouse/Distribution		1,010,859
CPA®:17 — Global	Dolgencorp, LLC(a)	Richwood, LA; Vass, NC & Hot Springs, VA		2,852	March-11	Retail	BTS
CPA®:17 — Global	Curtiss-Wright Flow Control Service	Middleburg Heights, OH		2,586	March-11	Industrial		28,185
Total Acquisitions			$	344,767				3,952,427

(a) Acquisition includes a build-to-suit transaction. Gross square footage cannot be determined at this time.

Disposition Activity

Dispositions — CPA^® REITs

					Disposition
Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Gross Sale Price		Date	Property Type	Gross Square Footage
CPA®:15	Childtime Childcare, Inc.	Centreville, VA	$	788	February-11	Other		6,360
CPA®:15	Childtime Childcare, Inc.	Century Oaks, VA		1,700	March-11	Other		6,360
Total REIT Dispositions				2,488				12,720
Dispositions — Owned Portfolio
WPC LLC	AT&T Corp.	Bridgeton, MO		8,250	February-11	Industrial		85,510
WPC LLC	3E Trading LLC	West Mifflin, PA		1,032	February-11	Retail		121,054
Total Owned Portfolio Dispositions				9,282				206,564
Total Dispositions			$	11,770				219,284

Foreclosure and Receivership Activity

			Outstanding
Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Mortgage Balance		Date	Event	Gross Square Footage
CPA®:15	Vacant	Port Huron & Shelby Township, MI	$	6,143	February-11	Receivership		294,883
CPA®:14	Vacant	Duluth, GA		7,141	March-11	Foreclosure		221,374
			$	13,284				516,257

13

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Rent and Historical Occupancy (Pro rata Basis)
As of March 31, 2011
(in thousands)

Portfolio Diversification by Annualized Contractual Minimum Base Rent

	Annualized Contractual
Top Ten Tenants/Lease Guarantors	Minimum Base Rent		Percent
Carrefour France, SAS(a)	$	7,940		9	%
The American Bottling Company		4,895		6	%
The New York Times Company		4,358		5	%
JP Morgan Chase Bank, N.A.		3,862		4	%
Orbital Sciences Corporation		3,307		4	%
U.S. Airways Group, Inc.		3,297		4	%
Federal Express Corporation		3,152		4	%
L-3 Communications		3,055		3	%
Medica France, S.A.(a)		2,906		3	%
Bouygues Telecom, S.A. (France)(a)		2,786		3	%
Total	$	39,558

(a)	Rent amounts are subject to fluctuations in foreign currency exchange rates.
(b)	Percentage of the portfolio’s total pro rata square footage that was subject to lease.

14

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Property Type (Pro rata Basis)
As of March 31, 2011
(in thousands)

Property Type	Square Footage		Percent
Warehouse/Distribution		5,144		38	%
Industrial		4,833		35	%
Office		2,337		17	%
Retail		874		6	%
Other Properties(a)		363		3	%
Hospitality		158		1	%
Total (b)		13,709		100	%

	Annualized Contractual
Property Type	Minimum Base Rent		Percent
Office	$	31,087		35	%
Industrial		24,698		28	%
Warehouse/Distribution		18,370		21	%
Other Properties(a)		6,543		8	%
Retail		5,482		6	%
Hospitality		2,100		2	%
Total(b)	$	88,280		100	%

(a)	Reflects properties used for health care; education, child care and social services; leisure, amusement and recreation; and unoccupied land.
(b)	Excludes 21 domestic self-storage properties in our Carey Storage subsidiary, totaling approximately 1.5 million square feet.

15

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Tenant Industry (Pro rata Basis)
As of March 31, 2011
(in thousands)

	Annualized Contractual
Industry Type (a)	Minimum Base Rent		Percent
Retail Trade	$	16,179		18	%
Business and Commercial Services		8,826		10	%
Healthcare, Education and Childcare		7,886		9	%
Media: Printing and Publishing		6,714		8	%
Telecommunications		5,320		6	%
Electronics		4,971		6	%
Beverages, Food, and Tobacco		4,949		6	%
Aerospace and Defense		4,907		5	%
Banking		3,862		4	%
Forest Products and Paper		3,766		4	%
Transportation — Personal		3,504		4	%
Transportation — Cargo		3,180		4	%
Machinery		2,584		3	%
Hotels and Gaming		2,110		2	%
Mining, Metals, and Primary Metal Industries		1,477		2	%
Consumer and Durable Goods		1,463		2	%
Federal, State and Local Government		1,170		1	%
Chemicals, Plastics, Rubber, and Glass		1,150		1	%
Leisure, Amusement, Entertainment		927		1	%
Construction and Building		878		1	%
Other(b)		2,457		3	%
Total(c)	$	88,280		100	%

(a)	Based on the Moody’s Classification System and information provided by the tenant.
(b)	Includes revenue from tenants in the following industries: textiles, leather and apparel (1.0%), automobile (0.8%), consumer non-durable goods (0.8%), multi-tenant properties (0.2%) and grocery (0.04%).
(c)	Excludes 21 domestic self-storage properties in our Carey Storage subsidiary, totaling approximately 1.5 million square feet.

16

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Geography (Pro rata Basis)
As of March 31, 2011
(in thousands)

Region	Square Footage		Percent
United States
South		4,719		35	%
East		2,792		20	%
West		2,339		17	%
Midwest		1,669		12	%
		11,519		84	%
International
France		1,692		12	%
Germany		246		2	%
Spain		138		1	%
Poland		114		1	%
		2,190		16	%
Total(a)		13,709		100	%

	Annualized Contractual
Region	Minimum Base Rent		Percent
United States
South	$	25,061		28	%
West		21,125		24	%
East		12,247		14	%
Midwest		10,604		12	%
		69,037		78	%
International
France		14,020		16	%
Germany		2,394		3	%
Spain		1,780		2	%
Poland		1,049		1	%
		19,243		22	%
Total(a)	$	88,280		100	%

(a) Excludes 21 domestic self-storage properties in our Carey Storage subsidiary, totaling approximately 1.5 million square feet.

17

W. P. CAREY & CO. LLC
Portfolio Analysis — Lease Maturities (Pro rata Basis)
As of March 31, 2011
(in thousands)

	Annualized
	Contractual
Year of Lease	Minimum Base
Expiration(a)	Rent		Percent
2011(b)	$	4,877		6	%
2012		9,501		11	%
2013		4,449		5	%
2014		11,538		13	%
2015		10,652		12	%
2016		6,906		8	%
2017		5,860		7	%
2018		3,808		4	%
2019		7,996		9	%
2020		2,746		3	%
2021		3,697		4	%
2022		1,657		2	%
2023		—		0	%
2024		4,358		5	%
2025		1,251		1	%
2026		948		1	%
2027		2,394		3	%
2028		—		0	%
2029		—		0	%
2030		5,642		6	%
Total (c)	$	88,280		100	%

Weighted Average Years to Maturity: 6.75

(a)	Assumes tenant does not exercise renewal option.
(b)	Month-to-month properties are counted in 2011 revenue stream.
(c)	Excludes 21 domestic self-storage properties in our Carey Storage subsidiary, totaling approximately 1.5 million square feet.

18

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

	March 31, 2011			December 31, 2010
Assets
Investments in real estate:
Real estate, at cost	$	556,685		$	560,592
Operating real estate, at cost		109,668			109,851
Accumulated depreciation		(124,780	)		(122,312	)
Net investments in properties		541,573			548,131
Net investment in direct financing leases		76,336			76,550
Equity investments in real estate and the REITs		333,093			322,294
Net investments in real estate		951,002			946,975
Cash and cash equivalents		34,078			64,693
Due from affiliates		35,341			38,793
Intangible assets and goodwill, net		86,521			87,768
Other assets, net		37,260			34,097
Total assets	$	1,144,202		$	1,172,326
Liabilities and Equity
Liabilities:
Non-recourse debt	$	250,997		$	255,232
Line of credit		121,750			141,750
Accounts payable, accrued expenses and other liabilities		28,495			40,808
Income taxes, net		40,758			41,443
Distributions payable		20,233			20,073
Total liabilities		462,233			499,306
Redeemable noncontrolling interest		6,920			7,546
Commitments and contingencies
Equity:
W. P. Carey members’ equity:
Listed shares, no par value, 100,000,000 shares authorized; 39,614,250 and 39,454,847 shares issued and outstanding, respectively		764,310			763,734
Distributions in excess of accumulated earnings		(142,845	)		(145,769	)
Deferred compensation obligation		10,511			10,511
Accumulated other comprehensive income (loss)		2,301			(3,463	)
Total W. P. Carey members’ equity		634,277			625,013
Noncontrolling interests		40,772			40,461
Total equity		675,049			665,474
Total liabilities and equity	$	1,144,202		$	1,172,326

19

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

	Three months ended March 31,
	2011			2010
Revenues
Asset management revenue	$	19,820		$	18,820
Structuring revenue		15,945			6,834
Wholesaling revenue		3,280			2,542
Reimbursed costs from affiliates		17,719			14,602
Lease revenues		15,460			15,691
Other real estate income		5,308			3,776
		77,532			62,265
Operating Expenses
General and administrative		(21,323	)		(18,047	)
Reimbursable costs		(17,719	)		(14,602	)
Depreciation and amortization		(5,450	)		(6,098	)
Property expenses		(3,155	)		(2,203	)
Other real estate expenses		(2,557	)		(1,815	)
		(50,204	)		(42,765	)
Other Income and Expenses
Other interest income		675			273
Income from equity investments in real estate and the REITs		6,216			9,142
Other income and (expenses)		481			(657	)
Interest expense		(4,440	)		(3,711	)
		2,932			5,047
Income from continuing operations before income taxes		30,260			24,547
Provision for income taxes		(7,574	)		(4,112	)
Income from continuing operations		22,686			20,435
Discontinued Operations
Income from operations of discontinued properties		149			615
Gain on sale of real estate		781			404
Impairment charges		—			(7,152	)
Income (loss) from discontinued operations		930			(6,133	)
Net Income		23,616			14,302
Add: Net loss attributable to noncontrolling interests		330			286
Less: Net income attributable to redeemable noncontrolling interests		(603	)		(175	)
Net Income Attributable to W. P. Carey Members	$	23,343		$	14,413
Basic Earnings Per Share
Income from continuing operations attributable to W. P. Carey members	$	0.56		$	0.51
Income (loss) from discontinued operations attributable to W. P. Carey members		0.02			(0.15	)
Net income attributable to W. P. Carey members	$	0.58		$	0.36
Diluted Earnings Per Share
Income from continuing operations attributable to W. P. Carey members	$	0.56		$	0.52
Income (loss) from discontinued operations attributable to W. P. Carey members		0.02			(0.16	)
Net income attributable to W. P. Carey members	$	0.58		$	0.36
Weighted Average Shares Outstanding
Basic		39,738,207			39,088,114
Diluted		40,242,706			39,495,845
Amounts Attributable to W. P. Carey Members
Income from continuing operations, net of tax	$	22,413		$	20,546
Income (loss) from discontinued operations, net of tax		930			(6,133	)
Net income	$	23,343		$	14,413
Distributions Declared Per Share	$	0.512		$	0.504

20

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

	Three months ended March 31,
	2011			2010
Cash Flows — Operating Activities
Net income	$	23,616		$	14,302
Adjustments to net income:
Depreciation and amortization including intangible assets and deferred financing costs		5,457			6,403
Income from equity investments in real estate and the REITs in excess of distributions received		265			(4,530	)
Straight-line rent and financing lease adjustments		(373	)		251
Gain on sale of real estate		(781	)		(404	)
Allocation of loss to profit-sharing interest		—			(171	)
Management income received in shares of affiliates		(10,083	)		(8,532	)
Unrealized (gain) loss on foreign currency transactions and others		(210	)		608
Realized (gain) loss on foreign currency transactions and others		(213	)		221
Impairment charges		—			7,152
Stock-based compensation expense		2,451			2,461
Deferred acquisition revenue received		11,103			14,851
Increase in structuring revenue receivable		(7,305	)		(3,244	)
Decrease in income taxes, net		(1,956	)		(6,682	)
Net changes in other operating assets and liabilities		(15,285	)		(9,063	)
Net cash provided by operating activities		6,686			13,623
Cash Flows — Investing Activities
Distributions received from equity investments in real estate and the REITs in excess of equity income		2,795			5,556
Capital contributions to equity investments		(2,297	)		—
Purchases of real estate and equity investments in real estate		—			(47,583	)
Capital expenditures		(880	)		(620	)
Proceeds from sale of real estate		9,187			6,632
Proceeds from sale of securities		120			—
Funds released from escrow		(148	)		36,132
Funds placed in escrow		363			—
Net cash provided by investing activities		9,140			117
Cash Flows — Financing Activities
Distributions paid		(20,259	)		(32,482	)
Contributions from noncontrolling interests		617			620
Distributions to noncontrolling interests		(1,425	)		(792	)
Scheduled payments of mortgage principal		(7,294	)		(4,059	)
Proceeds from mortgage financing		1,135			—
Proceeds from line of credit		90,000			51,500
Prepayments of line of credit		(110,000	)		(12,500	)
Payment of financing costs		53			(195	)
Windfall tax benefits (provision) associated with stock-based compensation awards		293			(523	)
Net cash (used in) provided by financing activities		(46,880	)		1,569
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash		439			(663	)
Net (decrease) increase in cash and cash equivalents		(30,615	)		14,646
Cash and cash equivalents, beginning of period		64,693			18,450
Cash and cash equivalents, end of period	$	34,078		$	33,096

21

W. P. CAREY & CO. LLC
Detailed Property Summary (Pro rata Basis)
As of March 31, 2011

										Annualized Contractual
										Minimum Base Rent (in		Percentage of Total
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage(e)		thousands)		Rent(e)			Increase Factor	Lease Expiration	Maximum Term
Carrefour France, SAS(a)		46	%	Nimes, FR	Warehouse/Distribution	Retail Trade	Europe		177,786	$	1,089		1.23	%	INSEE(b)	Jun-2016	Jun-2019
Carrefour France, SAS(a)		46	%	Colomiers, FR	Warehouse/Distribution	Retail Trade	Europe		174,261		1,071		1.21	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Crepy en Valois, FR	Warehouse/Distribution	Retail Trade	Europe		152,365		977		1.11	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Lens, FR	Warehouse/Distribution	Retail Trade	Europe		126,925		780		0.88	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Nîmes, FR	Warehouse/Distribution	Retail Trade	Europe		134,937		721		0.82	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Ploufragan, FR	Warehouse/Distribution	Retail Trade	Europe		122,591		672		0.76	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Crepy en Valois, FR	Warehouse/Distribution	Retail Trade	Europe		101,248		649		0.74	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Thuit Hebert, FR	Warehouse/Distribution	Retail Trade	Europe		107,958		577		0.65	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Cholet, FR	Warehouse/Distribution	Retail Trade	Europe		99,261		544		0.62	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Colomiers, FR	Warehouse/Distribution	Retail Trade	Europe		60,292		371		0.42	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Thuit Hebert, FR	Warehouse/Distribution	Retail Trade	Europe		68,476		366		0.41	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Colomiers, FR	Warehouse/Distribution	Retail Trade	Europe		7,524		46		0.05	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Lens, FR	Warehouse/Distribution	Retail Trade	Europe		4,349		27		0.03	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Colomiers, FR	Warehouse/Distribution	Retail Trade	Europe		2,899		18		0.02	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Lens, FR	Warehouse/Distribution	Retail Trade	Europe		2,598		16		0.02	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Nîmes, FR	Warehouse/Distribution	Retail Trade	Europe		2,554		14		0.02	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS(a)		46	%	Nîmes, FR	Warehouse/Distribution	Retail Trade	Europe		596		3		0.00	%	INSEE(b)	Jun-2015	Jun-2018
Carrefour France, SAS Total									1,346,620		7,941		9.00	%
The American Bottling Company		100	%	Irving, TX	Industrial	Beverages, Food, and Tobacco	South		459,497		2,969		3.36	%	CPI	Jul-2014	Jul-2029
The American Bottling Company		100	%	Houston, TX	Industrial	Beverages, Food, and Tobacco	South		262,450		1,926		2.18	%	CPI	Jul-2014	Jul-2029
The American Bottling Company Total									721,947		4,895		5.54	%
The New York Times Company		18	%	New York, NY	Office	Media: Printing and Publishing	East		126,420		4,358		4.94	%	Fixed	Mar-2024	Mar-2044
JP Morgan Chase Bank, N.A.		100	%	Fort Worth, TX	Office	Banking	South		384,246		3,862		4.37	%	None	Feb-2030	Feb-2050
Orbital Sciences Corporation		100	%	Chandler, AZ	Industrial	Aerospace and Defense	West		355,307		3,307		3.75	%	CPI	Sep-2019	Sep-2029
US Airways Group, Inc.		75	%	Tempe, AZ	Office	Transportation - Personal	West		167,890		3,297		3.73	%	CPI	Apr-2014	Nov-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		717		0.81	%	CPI	Aug-2019	Aug-2039
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		717		0.81	%	CPI	Aug-2019	Aug-2039
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		717		0.81	%	CPI	Aug-2019	Aug-2039
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		39,038		717		0.81	%	CPI	Aug-2019	Aug-2039
Federal Express Corporation		100	%	Corpus Christi, TX	Warehouse/Distribution	Transportation - Cargo	South		30,212		213		0.24	%	Fixed	May-2012	May-2017
Federal Express Corporation		100	%	College Station, TX	Warehouse/Distribution	Transportation - Cargo	South		12,080		70		0.08	%	Fixed	Apr-2012	Apr-2017
Federal Express Corporation Total									198,444		3,151		3.57	%
The Titan Corporation		100	%	San Diego, CA	Office	Electronics	West		166,403		3,055		3.46	%	CPI	Jul-2012	Jul-2017
Medica France S.A.(a)		46	%	Paris, France	Other	Healthcare, Education and Childcare	Europe		24,770		646		0.73	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.(a)		46	%	Sarcelles, France	Other	Healthcare, Education and Childcare	Europe		34,620		646		0.73	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.(a)		46	%	Chatou, France	Other	Healthcare, Education and Childcare	Europe		24,666		404		0.46	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.(a)		46	%	Poissy, France	Other	Healthcare, Education and Childcare	Europe		24,592		404		0.46	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.(a)		46	%	Rosny sous Bois, France	Other	Healthcare, Education and Childcare	Europe		21,846		404		0.46	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.(a)		46	%	Rueil Malmaison, France	Other	Healthcare, Education and Childcare	Europe		23,813		404		0.46	%	INSEE(b)	Sep-2021	Sep-2030
Medica France S.A.Total									154,306		2,908		3.29	%
Bouygues Telecom, S.A.(a)		75	%	Illkirch-Graffenstaden, France	Office	Telecommunications	Europe		45,454		1,811		2.05	%	INSEE(b)	Feb-2013	Feb-2013
Bouygues Telecom, S.A.(a)		95	%	Tours, France	Office	Telecommunications	Europe		57,258		975		1.10	%	INSEE(b)	Sep-2012	Sep-2012
Bouygues Telecom, S.A. Total									102,713		2,786		3.16	%
CheckFree Corporation		50	%	Norcross, GA	Office	Business and Commercial Services	South		50,063		1,016		1.15	%	CPI	Dec-2015	Dec-2030
CheckFree Corporation		50	%	Norcross, GA	Office	Business and Commercial Services	South		34,150		862		0.98	%	CPI	Dec-2015	Dec-2030
CheckFree Corporation		50	%	Norcross, GA	Office	Business and Commercial Services	South		26,125		650		0.74	%	CPI	Dec-2015	Dec-2030
CheckFree Corporation		50	%	Norcross, GA	Land	Business and Commercial Services	South		1		80		0.09	%	CPI	Dec-2015	Dec-2030
CheckFree CorporationTotal									110,338		2,608		2.95	%
Schuler AG(a)		33	%	Göppingen, Germany	Industrial	Machinery	Europe		246,355		2,394		2.71	%	CPI	Oct-2027	Oct-2047
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Trade	South		5,400		56		0.06	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Albuquerque, NM	Retail	Retail Trade	West		5,400		55		0.06	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Trade	South		5,400		54		0.06	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Houston, TX	Retail	Retail Trade	South		5,400		53		0.06	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Gastonia, NC	Retail	Retail Trade	East		5,400		52		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Corpus Christi, TX	Retail	Retail Trade	South		6,600		52		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Statesville, NC	Retail	Retail Trade	East		5,400		51		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Lenoir, NC	Retail	Retail Trade	East		5,400		51		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Corpus Christi, TX	Retail	Retail Trade	South		6,480		51		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Victoria, TX	Retail	Retail Trade	South		6,480		51		0.06	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Lexington, SC	Retail	Retail Trade	East		5,400		50		0.06	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Macon, GA	Retail	Retail Trade	South		5,400		50		0.06	%	None	Aug-2013	Aug-2038

22

W. P. CAREY & CO. LLC
Detailed Property Summary (Pro rata Basis)
As of March 31, 2011

										Annualized Contractual
										Minimum Base Rent (in		Percentage of Total
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage(e)		thousands)		Rent(e)			Increase Factor	Lease Expiration	Maximum Term
AutoZone, Inc.		100	%	St. Peters, MO	Retail	Retail Trade	Midwest		5,400		49		0.06	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	St. Peters, MO	Retail	Retail Trade	Midwest		6,660		49		0.06	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Trade	South		5,400		48		0.05	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Decatur, AL	Retail	Retail Trade	South		5,400		45		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Phenix City, AL	Retail	Retail Trade	South		5,400		45		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Mobile, AL	Retail	Retail Trade	South		5,400		45		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Alton, IL	Retail	Retail Trade	Midwest		5,400		45		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Belleville, IL	Retail	Retail Trade	Midwest		5,400		45		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Breckenridge, MO	Retail	Retail Trade	Midwest		5,400		44		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Chickasaw, AL	Retail	Retail Trade	South		5,400		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Montgomery, AL	Retail	Retail Trade	South		5,400		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Columbus, GA	Retail	Retail Trade	South		5,400		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	West Monroe, LA	Retail	Retail Trade	South		5,400		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Trade	South		5,400		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Lake Charles, LA	Retail	Retail Trade	South		6,480		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Lake Charles, LA	Retail	Retail Trade	South		6,480		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Maplewood, MO	Retail	Retail Trade	Midwest		6,480		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Overland, MO	Retail	Retail Trade	Midwest		6,480		43		0.05	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Albany, GA	Retail	Retail Trade	South		5,400		43		0.05	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Charlotte, NC	Retail	Retail Trade	East		5,400		42		0.05	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Trade	South		5,400		42		0.05	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Farmington, NM	Retail	Retail Trade	West		5,400		41		0.05	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Hammond, LA	Retail	Retail Trade	South		6,480		40		0.05	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Brunswick, GA	Retail	Retail Trade	South		5,400		40		0.05	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Waco, TX	Retail	Retail Trade	South		4,800		38		0.04	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Collinsville, IL	Retail	Retail Trade	Midwest		5,400		36		0.04	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Wood River, IL	Retail	Retail Trade	Midwest		5,400		36		0.04	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	St. Louis, MO	Retail	Retail Trade	Midwest		5,400		36		0.04	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Panama City, FL	Retail	Retail Trade	South		5,401		35		0.04	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Trade	South		5,000		35		0.04	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Augusta, GA	Retail	Retail Trade	South		5,400		34		0.04	%	None	Aug-2013	Aug-2038
AutoZone, Inc.		100	%	Bessemer, AL	Retail	Retail Trade	South		5,400		32		0.04	%	None	Feb-2016	Feb-2026
AutoZone, Inc.		100	%	Austin, TX	Retail	Retail Trade	South		4,000		31		0.04	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Nederland, TX	Retail	Retail Trade	South		4,000		31		0.04	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	West Orange, TX	Retail	Retail Trade	South		4,000		31		0.04	%	None	Jan-2016	Jan-2026
AutoZone, Inc.		100	%	Shelby, NC	Retail	Retail Trade	East		6,660		31		0.04	%	Fixed	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Kannapolis, NC	Retail	Retail Trade	East		6,408		24		0.03	%	Fixed	Oct-2015	Oct-2025
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Trade	South		5,401		23		0.03	%	Fixed	Apr-2014	Apr-2019
AutoZone, Inc.		100	%	Knoxville, TN	Retail	Retail Trade	South		6,660		23		0.03	%	Fixed	May-2014	May-2024
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Trade	South		6,600		22		0.02	%	Fixed	Mar-2014	Mar-2024
AutoZone, Inc.		100	%	East Ridge, TN	Retail	Retail Trade	South		6,480		21		0.02	%	Fixed	Oct-2013	Oct-2023
AutoZone, Inc.		100	%	Morgantown, NC	Retail	Retail Trade	East		5,400		19		0.02	%	Fixed	Oct-2015	Aug-2019
AutoZone, Inc. Total									302,230		2,214		2.51	%
LIVHO, Inc.		100	%	Livonia, MI	Hospitality	Hotels and Gaming	Midwest		158,000		2,100		2.38	%	Fixed	Jan-2012	Jan-2012
Brown Institute, Ltd.		100	%	Mendota Heights, MN	Other	Healthcare, Education and Childcare	Midwest		136,400		2,069		2.34	%	Fixed	Aug-2011	Aug-2011
Sybron Dental Specialties, Inc.		100	%	Romulus, MI	Industrial	Healthcare, Education and Childcare	Midwest		220,000		1,454		1.65	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc.		100	%	Glendora, CA	Office	Healthcare, Education and Childcare	West		25,000		555		0.63	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc. Total									245,000		2,009		2.28	%
Unisource Worldwide, Inc.		100	%	Commerce, CA	Warehouse/Distribution	Forest Products and Paper	West		411,561		1,564		1.77	%	Fixed	Apr-2020	Apr-2030
Unisource Worldwide, Inc.		100	%	Anchorage, AK	Warehouse/Distribution	Forest Products and Paper	West		44,712		362		0.41	%	Fixed	Dec-2014	Dec-2029
Unisource Worldwide, Inc. Total									456,273		1,926		2.18	%
Amylin Pharmaceuticals, Inc.		50	%	San Diego, CA	Office	Business and Commercial Services	West		35,951		910		1.03	%	Fixed	Jul-2019	Jul-2029
Amylin Pharmaceuticals, Inc.		50	%	San Diego, CA	Industrial	Business and Commercial Services	West		36,204		910		1.03	%	Fixed	Jul-2019	Jul-2029
Amylin Pharmaceuticals, Inc. Total									72,155		1,820		2.06	%
Eroski Sociedad Cooperativa		70	%	Mallorca, Spain	Warehouse/Distribution	Retail Trade	Europe		138,383		1,780		2.02	%	3% or CPI	Jun-2030	Jun-2045

23

W. P. CAREY & CO. LLC
Detailed Property Summary (Pro rata Basis)
As of March 31, 2011

										Annualized Contractual
										Minimum Base Rent (in		Percentage of Total
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage(e)		thousands)		Rent(e)			Increase Factor	Lease Expiration	Maximum Term
BE Aerospace, Inc.		100	%	Lenexa, KS	Industrial	Aerospace and Defense	Midwest		130,094		666		0.75	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Warehouse/Distribution	Aerospace and Defense	East		90,800		268		0.30	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		74,026		218		0.25	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		50,200		148		0.17	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Office	Aerospace and Defense	East		43,788		129		0.15	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Dallas, TX	Industrial	Aerospace and Defense	South		22,680		127		0.14	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		15,402		45		0.05	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc. Total									426,990		1,601		1.81	%
Lowe’s Home Improvement Warehouse		100	%	Bellevue, WA	Retail	Retail Trade	West		143,352		1,539		1.74	%	CPI	Aug-2018	Aug-2018
World Color Printing (USA) Corp.		100	%	Doraville, GA	Industrial	Media: Printing and Publishing	South		432,559		1,520		1.72	%	CPI	Dec-2017	Dec-2042
Sprint Spectrum Realty Company, L.P.		100	%	Rio Rancho, NM	Office	Telecommunications	West		94,730		1,425		1.61	%	Fixed	May-2016	May-2021
Cleo, Inc.		100	%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		614,274		891		1.01	%	CPI	Dec-2011	Dec-2011
Cleo, Inc.		100	%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		391,896		411		0.47	%	CPI	Dec-2011	Dec-2011
Cleo, Inc. Total									1,006,170		1,302		1.47	%
Hologic, Inc.		36	%	Bedford, MA	Industrial	Electronics	East		74,520		1,035		1.17	%	CPI	Aug-2022	Aug-2042
Hologic, Inc.		36	%	Danbury, CT	Industrial	Electronics	East		22,335		235		0.27	%	CPI	Aug-2022	Aug-2042
Hologic, Inc. Total									96,855		1,270		1.44	%
United States Postal Service		100	%	Bloomingdale, IL	Office	Federal, State and Local Government	Midwest		60,000		1,170		1.33	%	Fixed	Apr-2016	Apr-2016
Anthony’s Manufacturing Company, Inc.		100	%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		95,420		606		0.69	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100	%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		40,285		256		0.29	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100	%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		39,920		254		0.29	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.		100	%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		7,220		46		0.05	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc. Total									182,845		1,162		1.32	%
Fiskars Brands, Inc.		100	%	Apopka, FL	Industrial	Chemicals, Plastics, Rubber, and Glass	South		260,160		1,081		1.22	%	Fixed	Mar-2015	Mar-2015
Fiskars Brands, Inc.		100	%	Apopka, FL	Industrial	Chemicals, Plastics, Rubber, and Glass	South		109,377		69		0.08	%	Fixed	Mar-2015	Mar-2015
Fiskars Brands, Inc. Total									369,537		1,150		1.30	%
The United States Playing Card Company		100	%	Erlanger, KY	Warehouse/Distribution	Media: Printing and Publishing	East		409,600		836		0.95	%	Fixed	Jun-2017	Jun-2020
The United States Playing Card Company		100	%	Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		162,604		301		0.34	%	Fixed	Jun-2017	Jun-2020
The United States Playing Card Company Total									572,204		1,137		1.29	%
OBI Group(a)		100	%	Wroclaw, Poland	Retail	Retail Trade	Europe		113,559		1,049		1.19	%	CPI	Dec-2025	Dec-2040
Consolidated Systems, Inc.		60	%	Columbia, SC	Industrial	Mining, Metals, and Primary Metal Industries	East		294,249		823		0.93	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Office	Mining, Metals, and Primary Metal Industries	East		24,459		68		0.08	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Warehouse/Distribution	Mining, Metals, and Primary Metal Industries	East		13,792		39		0.04	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.		60	%	Columbia, SC	Warehouse/Distribution	Mining, Metals, and Primary Metal Industries	East		6,266		18		0.02	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc. Total									338,765		948		1.07	%
24 Hour Fitness USA, Inc.		100	%	Austin, TX	Other	Leisure, Amusement, Entertainment	South		43,935		927		1.05	%	CPI	Jun-2017	Jun-2037
Sports Wholesale, Inc.		100	%	Birmingham, AL	Warehouse/Distribution	Retail Trade	South		219,312		924		1.05	%	CPI	Dec-2014	Dec-2029
NVR, Inc.		100	%	Thurmont, MD	Industrial	Construction and Building	East		150,468		735		0.83	%	CPI	Apr-2014	Apr-2039
NVR, Inc.		100	%	Farmington, NY	Industrial	Construction and Building	East		29,273		143		0.16	%	CPI	Apr-2014	Apr-2039
NVR, Inc. Total									179,741		878		0.99	%
The SI Organization, Inc.		100	%	King of Prussia, PA	Office	Business and Commercial Services	East		88,578		864		0.98	%	Fixed	Jul-2013	Jul-2023
Swat-Fame, Inc.		100	%	City of Industry, CA	Industrial	Textiles, Leather, and Apparel	West		233,205		851		0.96	%	CPI	Jun-2020	Jun-2020
SymphonyIRI Group, Inc.		33	%	Chicago, IL	Office	Business and Commercial Services	Midwest		53,195		791		0.90	%	CPI	Jan-2021	Jan-2021
Juniper Networks, Inc.		100	%	Sunnyvale, CA	Industrial	Electronics	West		50,311		646		0.73	%	Fixed	Nov-2011	Nov-2021
BellSouth Telecommunications, Inc.		100	%	Fort Lauderdale, FL	Warehouse/Distribution	Telecommunications	South		80,450		613		0.69	%	Fixed	Jun-2016	Jun-2021
Childtime Childcare, Inc.		34	%	Alhambra, CA	Other	Healthcare, Education and Childcare	West		2,262		58		0.07	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Tustin, CA	Other	Healthcare, Education and Childcare	West		2,264		57		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Canton, MI	Other	Healthcare, Education and Childcare	Midwest		2,311		52		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Chino, CA	Other	Healthcare, Education and Childcare	West		2,166		50		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Carrollton, TX	Other	Healthcare, Education and Childcare	South		2,438		50		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Duncanville, TX	Other	Healthcare, Education and Childcare	South		2,438		50		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Lewisville, TX	Other	Healthcare, Education and Childcare	South		2,440		50		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Garden Grove, CA	Other	Healthcare, Education and Childcare	West		2,848		49		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Tucson, AZ	Other	Healthcare, Education and Childcare	West		2,165		40		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Chandler, AZ	Other	Healthcare, Education and Childcare	West		2,026		38		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Westland, MI	Other	Healthcare, Education and Childcare	Midwest		2,787		38		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		34	%	Westland, MI	Other	Healthcare, Education and Childcare	Midwest		2,472		29		0.03	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc. Total									28,617		561		0.64	%

24

W. P. CAREY & CO. LLC
Detailed Property Summary (Pro rata Basis)
As of March 31, 2011

										Annualized Contractual
										Minimum Base Rent (in		Percentage of Total
Tenant/Lease Guarantor	Percent Ownership			Property Location	Property Type	Tenant Industry	Region	Square Footage(e)		thousands)		Rent(e)			Increase Factor	Lease Expiration	Maximum Term
United Stationers Supply Company		100	%	San Antonio, TX	Warehouse/Distribution	Forest Products and Paper	South		63,098		252		0.29	%	CPI	Mar-2014	Mar-2017
United Stationers Supply Company		100	%	New Orleans, LA	Warehouse/Distribution	Forest Products and Paper	South		59,560		238		0.27	%	CPI	Sep-2012	Sep-2012
United Stationers Supply Company Total									122,658		490		0.56	%
Alstom Power		100	%	Erlanger, KY	Warehouse/Distribution	Business and Commercial Services	East		197,400		485		0.55	%	Fixed	Jun-2017	Jun-2020
Jada Toys, Inc.		100	%	City of Industry, CA	Industrial	Consumer Non-durable Goods	West		92,595		485		0.55	%	Fixed	Apr-2012	Apr-2017
Lockheed Martin Corporation		100	%	Webster, TX	Industrial	Business and Commercial Services	South		30,176		309		0.35	%	Fixed	Oct-2011	Jul-2021
Lockheed Martin Corporation		100	%	Webster, TX	Warehouse/Distribution	Business and Commercial Services	South		8,921		91		0.34	%	Fixed	Dec-2011	Dec-2011
Lockheed Martin Corporation		100	%	Webster, TX	Industrial	Business and Commercial Services	South		48,207		—		0.00	%	Fixed	May-2018	May-2025
Lockheed Martin Corporation Total									87,304		400		0.69	%
Kmart Corporation		100	%	Drayton Plains, MI	Retail	Retail Trade	Midwest		103,018		210		0.24	%	None	Mar-2016	Mar-2026
Kmart Corporation		100	%	Citrus Heights, CA	Retail	Retail Trade	West		89,760		180		0.20	%	None	May-2016	May-2026
Kmart Corporation Total									192,778		390		0.44	%
Pioneer Credit Recovery, Inc.		100	%	Moorestown, NJ	Office	Business and Commercial Services	East		30,000		390		0.44	%	Fixed	Apr-2012	Apr-2018
Faurecia Exhaust Systems		100	%	Toledo, OH	Office	Automobile	Midwest		61,000		387		0.44	%	CPI	Nov-2022	Nov-2022
Groupe SOFEMO		100	%	Illkirch-Graffenstaden, France	Office	Business and Commercial Services	Europe		24,959		387		0.44	%	INSEE(b)	Jan-2014	Jan-2020
S&ME, Inc.		100	%	Raleigh, NC	Office	Business and Commercial Services	East		27,770		338		0.38	%	Fixed	Jul-2016	Jul-2026
Wal-Mart Stores, Inc.		100	%	Greenfield, IN	Warehouse/Distribution	Retail Trade	Midwest		82,620		331		0.37	%	None	Jan-2020	Jan-2025
Richard Design Services, Inc.		100	%	Beaumont, TX	Office	Business and Commercial Services	South		34,300		300		0.34	%	Other	Feb-2012	May-2012
Tubular Metal Systems		100	%	Pinconning, MI	Industrial	Automobile	Midwest		220,588		298		0.34	%	CPI	Jul-2013	Dec-2022
Qwest Communications, Inc.		100	%	Scottsdale, AZ	Industrial	Telecommunications	West		2,900		178		0.20	%	Fixed	Feb-2012	Feb-2017
Qwest Communications, Inc.		100	%	Scottsdale, AZ	Industrial	Telecommunications	West		1,560		96		0.11	%	Fixed	Feb-2012	Feb-2017
Qwest Communications, Inc. Total									4,460		274		0.31	%
Penberthy, Inc.		100	%	Prophetstown, IL	Industrial	Mining, Metals, and Primary Metal Industries	Midwest		161,878		269		0.30	%	CPI	Apr-2011	Apr-2026
Deloro Satellite Company, Inc.		100	%	Goshen, IN	Industrial	Mining, Metals, and Primary Metal Industries	Midwest		52,000		260		0.29	%	Fixed	Feb-2018	Feb-2023
United Space Alliance, LLC		100	%	Webster, TX	Warehouse/Distribution	Business and Commercial Services	South		43,937		253		0.29	%	None	Sep-2013	Sep-2013
Fairpoint Communications, Inc.		100	%	Milton, VT	Industrial	Telecommunications	East		30,624		221		0.25	%	Fixed	Feb-2013	Feb-2013
Multi-Tenant Building		100	%	Broomfield, CO	Office	Various	West		53,251		213		0.24	%	Various	Various	Various
Continental Airlines, Inc.		100	%	Houston, TX	Warehouse/Distribution	Transportation - Personal	South		25,125		207		0.23	%	Fixed	Jul-2013	Jul-2013
Lincoln Technical Institute, Inc.		100	%	Moorestown, NJ	Office	Healthcare, Education and Childcare	East		35,567		203		0.23	%	Fixed	Apr-2025	Apr-2025
Xerox Corporation		100	%	Hot Springs, AR	Retail	Machinery	South		36,850		190		0.22	%	Fixed	Mar-2014	Mar-2017
Candle Lamp Company, LLC		100	%	Memphis, TN	Warehouse/Distribution	Consumer Non-durable Goods	South		75,000		188		0.21	%	CPI	Mar-2014	Mar-2014
Kenyon International Emergency Services		100	%	Houston, TX	Warehouse/Distribution	Healthcare, Education and Childcare	South		17,725		96		0.11	%	None	Oct-2014	Oct-2019
Raytheon Company		100	%	Webster, TX	Industrial	Business and Commercial Services	South		9,138		89		0.10	%	Fixed	Jul-2011	Jul-2025
Golder Associates Inc.		100	%	Houston, TX	Office	Business and Commercial Services	South		8,066		28		0.03	%	Fixed	Oct-2017	Oct-2022
Golder Associates Inc.		100	%	Houston, TX	Office	Business and Commercial Services	South		7,730		27		0.03	%	Fixed	Oct-2017	Oct-2022
Golder Associates Inc. Total									15,796		55		0.06	%
Moran Foods, Inc.		100	%	Montgomery, AL	Retail	Beverages, Food, and Tobacco	South		32,690		53		0.06	%	None	Sep-2017	Sep-2037
Olmsted Kirk Paper Co.		100	%	Beaumont, TX	Office	Forest Products and Paper	South		5,760		47		0.05	%	Fixed	Dec-2017	Dec-2022
RGIS, LLC		100	%	Bloomingdale, IL	Office	Business and Commercial Services	Midwest		2,550		46		0.05	%	Fixed	Nov-2011	Nov-2011
SBH Holdings, LLC		100	%	Houston, TX	Office	Healthcare, Education and Childcare	South		5,632		44		0.05	%	Fixed	Aug-2013	Aug-2016
Cypress Creek Partners, LLC		100	%	Little Rock, AR	Retail	Grocery	South		21,932		35		0.04	%	None	Mar-2017	Mar-2022
Jerry Prater Trucking Incorporated		100	%	Salisbury, NC	Industrial	Transportation - Cargo	East		13,284		28		0.03	%	Fixed	Sep-2011	Sep-2012
Classic Cuisines Catering		100	%	Bloomingdale, IL	Office	Hotels and Gaming	Midwest		1,000		10		0.01	%	None	Apr-2011	Apr-2011
Action Buys Cars, Inc.(c)		100	%	Montgomery, AL	Retail	Retail Trade	South		1		10		0.01	%	None	MTM	MTM

25

W. P. CAREY & CO. LLC
Detailed Property Summary (Pro rata Basis)
As of March 31, 2011

Annualized Contractual

Minimum Base Rent (in

Percentage of Total

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage(e)

thousands)

Rent(e)

Increase Factor

Lease Expiration

Maximum Term

Google, Inc.

100

%

Venice, CA

Office

Telecommunications

West

67,681

—

0.00

%

Fixed

Oct-2025

Oct-2035

Common Area Space(c)

100

%

Bloomingdale, IL

Office

N/A

Midwest

14,084

—

0.00

%

None

Apr-2016

Apr-2016

Vacant

100

%

Charlotte, NC

Industrial

N/A

East

437,500

—

—

N/A

N/A

N/A

Vacant

100

%

Salisbury, NC

Warehouse/Distribution

N/A

East

287,000

—

—

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

%

Webster, TX

Warehouse/Distribution & Industrial

N/A

South

59,999

—

—

N/A

N/A

N/A

Vacant

100

%

Bridgeton, MO

Office

N/A

Midwest

78,080

—

—

N/A

N/A

N/A

Vacant

95

%

Tours, France

Office

N/A

Europe

44,763

—

—

N/A

N/A

N/A

Vacant

100

%

Broomfield, CO

Office

N/A

West

59,486

—

—

N/A

N/A

N/A

Vacant

100

%

Bloomingdale, IL

Office

N/A

Midwest

38,366

—

—

N/A

N/A

N/A

Vacant

100

%

Houston, TX

Warehouse/Distribution & Office

N/A

South

60,533

—

—

N/A

N/A

N/A

Vacant

33

%

Chicago, IL

Office

N/A

Midwest

30,797

—

—

N/A

N/A

N/A

Vacant

100

%

Brewton, AL

Retail

N/A

South

30,625

—

—

N/A

N/A

N/A

Vacant

75

%

Illkirch-Graffenstaden, France

Office

N/A

Europe

18,324

—

—

N/A

N/A

N/A

Vacant

100

%

Salisbury, NC

Office

N/A

East

10,681

—

—

N/A

N/A

N/A

Vacant

100

%

Beaumont, TX

Office

N/A

South

8,580

—

—

N/A

N/A

N/A

Vacant Total

1,404,734

—

—

Grand Total(d)

13,709,012

$

88,280

100

%

(a)	Rents reflect a conversion rate of 1.4099 EUR/USD as of March 31, 2011.
(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 21 domestic self-storage properties in our Carey Storage subsidiary, totaling approximately 1.5 million square feet.
(e)	Numbers may not add due to rounding.

26