W. P. Carey (WPC) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Feb. 18, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	W. P. Carey Inc.
Entity Central Index Key	1,025,378
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 6.1
Entity Common Stock, Shares Outstanding		104,529,350

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investments in real estate:
Real estate, at cost (inclusive of $256,573 and $184,417, respectively, attributable to variable interest entities, or VIEs)	$ 5,309,925	$ 5,006,682
Operating real estate, at cost (inclusive of $38,714 and $38,714, respectively, attributable to VIEs)	82,749	84,885
Accumulated depreciation (inclusive of $27,451 and $19,982, respectively, attributable to VIEs)	(381,529)	(258,493)
Net investments in properties	5,011,145	4,833,074
Net investments in direct financing leases (inclusive of $57,709 and $61,609, respectively, attributable to VIEs)	756,353	816,226
Assets held for sale	59,046	7,255
Net investments in real estate	5,826,544	5,656,555
Equity investments in the Managed Programs and real estate	275,473	249,403
Cash and cash equivalents (inclusive of $1,672 and $2,652, respectively, attributable to VIEs)	157,227	198,683
Due from affiliates	62,218	34,477
In-place lease and tenant relationship intangible assets, net (inclusive of $27,541 and $21,267, respectively, attributable to VIEs)	902,848	993,819
Goodwill	681,809	692,415
Above-market rent intangible assets, net (inclusive of $11,801 and $13,767, respectively, attributable to VIEs)	475,072	522,797
Other assets, net (inclusive of $19,771 and $18,603, respectively, attributable to VIEs)	373,482	300,330
Total assets	8,754,673	8,648,479
Liabilities:
Non-recourse debt, net (inclusive of $115,691 and $125,226, respectively, attributable to VIEs)	2,271,204	2,532,683
Senior Unsecured Notes, net	1,486,568	498,345
Senior Unsecured Credit Facility - Revolver	485,021	807,518
Senior Unsecured Credit Facility - Term Loan	250,000	250,000
Accounts payable, accrued expenses and other liabilities (inclusive of $9,268 and $5,573, respectively, attributable to VIEs)	342,374	293,846
Below-market rent and other intangible liabilities, net (inclusive of $8,619 and $9,305, respectively, attributable to VIEs)	154,315	175,070
Deferred income taxes (inclusive of $598 and $587, respectively, attributable to VIEs)	86,104	94,133
Distributions payable	102,715	100,078
Total liabilities	5,178,301	4,751,673
Redeemable noncontrolling interest	$ 14,944	$ 6,071
Commitments and contingencies (Note 12)
W. P. Carey stockholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued	$ 0	$ 0
Common stock, $0.001 par value, 450,000,000 shares authorized; 104,448,777 and 104,040,653 shares, respectively, issued and outstanding	104	104
Additional paid-in capital	4,282,042	4,293,450
Distributions in excess of accumulated earnings	(738,652)	(497,730)
Deferred compensation obligation	56,040	30,624
Accumulated other comprehensive loss	(172,291)	(75,559)
Total W. P. Carey stockholders’ equity	3,427,243	3,750,889
Noncontrolling interests	134,185	139,846
Total equity	3,561,428	3,890,735
Total liabilities and equity	$ 8,754,673	$ 8,648,479

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investments in real estate:
Real estates, at cost attributable to consolidated VIEs	$ 5,309,925	$ 5,006,682
Operating real estate, at cost attributable to VIEs	82,749	84,885
Accumulated depreciation attributable to consolidated VIEs	381,529	258,493
Net investment in direct financing leases	756,353	816,226
Cash and cash equivalents attributable to consolidated VIEs	157,227	198,683
In-place lease, net attributable to consolidated VIEs	902,848	993,819
Above-market rent, net attributable to consolidated VIEs	475,072	522,797
Other assets, net attributable to consolidated VIEs	373,482	300,330
Liabilities:
Non-recourse debt attributable to consolidated VIEs	2,271,204	2,532,683
Accounts payable, accrued expenses, and other liabilities attributable to consolidated VIEs	342,374	293,846
Below-market rent and other intangible liabilities, net attributable to consolidated VIEs	154,315	175,070
Deferred income taxes attributable to consolidated VIEs	$ 86,104	$ 94,133
W. P. Carey stockholders’ equity:
Preferred stock, par share value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, per share value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	104,448,777	104,040,653
Common stock, shares outstanding	104,448,777	104,040,653
Variable Interest Entity
Investments in real estate:
Real estates, at cost attributable to consolidated VIEs	$ 256,573	$ 184,417
Operating real estate, at cost attributable to VIEs	38,714	38,714
Accumulated depreciation attributable to consolidated VIEs	27,451	19,982
Net investment in direct financing leases	57,709	61,609
Cash and cash equivalents attributable to consolidated VIEs	1,672	2,652
In-place lease, net attributable to consolidated VIEs	27,541	21,267
Above-market rent, net attributable to consolidated VIEs	11,801	13,767
Other assets, net attributable to consolidated VIEs	19,771	18,603
Liabilities:
Non-recourse debt attributable to consolidated VIEs	115,691	125,226
Accounts payable, accrued expenses, and other liabilities attributable to consolidated VIEs	9,268	5,573
Below-market rent and other intangible liabilities, net attributable to consolidated VIEs	8,619	9,305
Deferred income taxes attributable to consolidated VIEs	$ 598	$ 587

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real estate revenues:
Lease revenues	$ 656,956	$ 573,829	$ 299,624
Operating property revenues	30,515	28,925	956
Lease termination income and other	25,145	17,767	2,071
Reimbursable tenant costs	22,832	24,862	13,314
Total real estate revenue	735,448	645,383	315,965
Revenues from the Managed Programs:
Structuring revenue	92,117	71,256	46,589
Reimbursable costs	55,837	130,212	73,572
Asset management revenue	49,984	38,063	42,670
Dealer manager fees	4,794	23,532	10,856
Incentive, termination and subordinated disposition revenue	203	0	199
Revenue from the Managed Programs	202,935	263,063	173,886
Total revenues	938,383	908,446	489,851
Operating Expenses
Depreciation and amortization	280,315	237,123	121,822
General and administrative	103,172	91,588	67,063
Reimbursable tenant and affiliate costs	78,669	155,074	86,886
Property expenses, excluding reimbursable tenant costs	52,199	37,725	8,082
Impairment charges	29,906	23,067	5,294
Stock-based compensation expense	21,626	31,075	37,195
Dealer manager fees and expenses	11,403	21,760	13,028
Subadvisor fees	11,303	5,501	4,106
Merger, property acquisition, and other expenses	(7,764)	34,465	9,230
Total operating expenses	580,829	637,378	352,706
Other Income and Expenses
Interest expense	(194,326)	(178,122)	(103,728)
Equity in earnings of equity method investments in the Managed Programs and real estate	51,020	44,116	52,731
Other income and (expenses)	2,113	(14,230)	9,421
Gain on change in control of interests	0	105,947	0
Total other income and expenses	(141,193)	(42,289)	(41,576)
Income from continuing operations before income taxes and gain (loss) on sale of real estate	216,361	228,779	95,569
Provision for income taxes	(37,621)	(17,609)	(1,252)
Income from continuing operations before gain (loss) on sale of real estate	178,740	211,170	94,317
Income from discontinued operations, net of tax	0	33,318	38,180
Gain (loss) on sale of real estate, net of tax	6,487	1,581	(332)
Net Income	185,227	246,069	132,165
Net income attributable to noncontrolling interests	(12,969)	(6,385)	(32,936)
Net loss (income) attributable to redeemable noncontrolling interest	0	142	(353)
Net Income Attributable to W. P. Carey	$ 172,258	$ 239,826	$ 98,876
Basic Earnings Per Share
Income from continuing operations attributable to W. P. Carey (usd per share)	$ 1.62	$ 2.08	$ 1.22
Income from discontinued operations attributable to W. P. Carey (usd per share)	0	0.34	0.21
Net Income Attributable to W. P. Carey (usd per share)	1.62	2.42	1.43
Diluted Earnings Per Share
Income from continuing operations attributable to W. P. Carey (usd per share)	1.61	2.06	1.21
Income from discontinued operations attributable to W. P. Carey (usd per share)	0	0.33	0.20
Net Income Attributable to W. P. Carey (usd per share)	$ 1.61	$ 2.39	$ 1.41
Weighted-Average Shares Outstanding
Basic, (in shares)	105,675,692	98,764,164	68,691,046
Diluted (in shares)	106,507,652	99,827,356	69,708,008
Amounts Attributable to W. P. Carey
Income from continuing operations, net of tax	$ 172,258	$ 206,329	$ 84,637
Income from discontinued operations, net of tax	0	33,497	14,239
Net Income Attributable to W. P. Carey	$ 172,258	$ 239,826	$ 98,876

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Comprehensive Income
Net Income	$ 185,227	$ 246,069	$ 132,165
Other Comprehensive (Loss) Income
Foreign currency translation adjustments	(125,447)	(117,938)	21,835
Realized and unrealized gain on derivative instruments	24,053	21,085	20
Change in unrealized gain (loss) on marketable securities	15	(10)	0
Net current period other comprehensive income (loss)	(101,379)	(96,863)	21,855
Comprehensive Income	83,848	149,206	154,020
Amounts Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests	(12,969)	(6,385)	(32,936)
Foreign currency translation adjustments	4,647	5,977	(1,883)
Comprehensive income attributable to noncontrolling interests	(8,322)	(408)	(34,819)
Amounts Attributable to Redeemable Noncontrolling Interest
Net loss (income) attributable to redeemable noncontrolling interest	0	142	(353)
Foreign currency translation adjustments	0	(9)	13
Comprehensive loss (income) attributable to redeemable noncontrolling interest	0	133	(340)
Comprehensive Income Attributable to W. P. Carey	$ 75,526	$ 148,931	$ 118,861

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	$0.001 Par Value Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Earnings	Deferred Compensation Obligation	Accumulated Other Comprehensive Income (Loss)	Total W. P. Carey Members	Noncontrolling interest
Balance - beginning of period at Dec. 31, 2012	$ 2,257,323	$ 69	$ 2,166,896	$ (183,528)	$ 8,358	$ (4,649)	$ 1,987,146	$ 270,177
Beginning equity balance - shares at Dec. 31, 2012		68,485,525
W.P. Carey Stockholders
Reclassification Of Estate Shareholder Shares	40,000		40,000				40,000
Exercise of stock options and employee purchases under the employee share purchase plan, value	2,312		2,312				2,312
Exercise of stock options and employee purchases under the employee share purchase plan, shares		55,423
Grants issued in connection with services rendered, shares, value	0						0
Grants issued in connection with services rendered, shares		295,304
Shares issued under share incentive plans, value	(9,183)		(9,183)				(9,183)
Shares issued under share incentive plans, shares		47,289
Contributions from noncontrolling interests	65,145							65,145
Windfall tax benefits - share incentive plan	12,817		12,817				12,817
Amortization of stock-based compensation expense	37,196		34,737		2,459		37,196
Distributions to noncontrolling interests	(71,820)							(71,820)
Distributions declared	(244,734)			(245,271)	537		(244,734)
Repurchase of shares, value	(40,000)	$ (1)	(19,548)	(20,451)			(40,000)
Repurchase of shares, shares		(616,971)
Foreign currency translation	(5)							(5)
Net income	131,812			98,876			98,876	32,936
Other comprehensive income (loss):
Foreign currency translation adjustments	21,848					19,965	19,965	1,883
Realized and unrealized gain on derivative instruments	20					20	20
Balance - end of period at Dec. 31, 2013	2,202,731	$ 68	2,228,031	(350,374)	11,354	15,336	1,904,415	298,316
Ending equity balance - shares at Dec. 31, 2013		68,266,570
W.P. Carey Stockholders
Shares issued in public offering, value	282,162	$ 5	282,157				282,162
Shares issued in public offering, shares		4,600,000
Exercise of stock options and employee purchases under the employee share purchase plan, value	1,890		1,890				1,890
Exercise of stock options and employee purchases under the employee share purchase plan, shares		39,655
Shares issued to stockholders of CPA:16 in connection with the CPA:16 Merger, value	1,815,521	$ 31	1,815,490				1,815,521
Shares issued to stockholders of CPA:16 in connection with the CPA:16 Merger, shares		30,729,878
Purchase of the remaining interests in less-than-wholly-owned investments that we already consolidate in connection with the CPA®:16 Merger	(280,936)		(41,374)				(41,374)	(239,562)
Purchase of noncontrolling interests in connection with the CPA®:16 Merger	99,757						0	99,757
Grants issued in connection with services rendered, shares, value	(15,737)		(15,737)				(15,737)
Grants issued in connection with services rendered, shares		368,347
Shares issued under share incentive plans, value	(1,428)		(1,428)				(1,428)
Shares issued under share incentive plans, shares		47,240
Deferral of vested shares	0		(15,428)		15,428		0
Contributions from noncontrolling interests	570							570
Windfall tax benefits - share incentive plan	5,641		5,641				5,641
Amortization of stock-based compensation expense	31,075		31,075				31,075
Redemption value adjustment	306		306				306
Distributions to noncontrolling interests	(19,719)							(19,719)
Distributions declared	(379,835)		3,178	(386,855)	3,842		(379,835)
Repurchase of shares, value	(678)		(351)	(327)			(678)
Repurchase of shares, shares		(11,037)
Foreign currency translation	76							76
Net income	246,211			239,826			239,826	6,385
Other comprehensive income (loss):
Foreign currency translation adjustments	(117,947)					(111,970)	(111,970)	(5,977)
Realized and unrealized gain on derivative instruments	21,085					21,085	21,085
Change in unrealized gain on marketable securities	(10)					(10)	(10)
Balance - end of period at Dec. 31, 2014	$ 3,890,735	$ 104	4,293,450	(497,730)	30,624	(75,559)	3,750,889	139,846
Ending equity balance - shares at Dec. 31, 2014	104,040,653	104,040,653
W.P. Carey Stockholders
Exercise of stock options and employee purchases under the employee share purchase plan, value	$ 515		515				515
Exercise of stock options and employee purchases under the employee share purchase plan, shares		11,524
Grants issued in connection with services rendered, shares, value	(15,493)		(15,493)				(15,493)
Grants issued in connection with services rendered, shares		331,252
Shares issued under share incentive plans, value	(3,250)		(3,250)				(3,250)
Shares issued under share incentive plans, shares		65,348
Deferral of vested shares	0		(20,740)		20,740
Contributions from noncontrolling interests	730							730
Windfall tax benefits - share incentive plan	12,522		12,522				12,522
Amortization of stock-based compensation expense	21,626		21,626				21,626
Redemption value adjustment	(8,873)		(8,873)				(8,873)
Distributions to noncontrolling interests	(14,713)							(14,713)
Distributions declared	(406,219)		2,285	(413,180)	4,676		(406,219)
Net income	185,227			172,258			172,258	12,969
Other comprehensive income (loss):
Foreign currency translation adjustments	(125,447)					(120,800)	(120,800)	(4,647)
Realized and unrealized gain on derivative instruments	24,053					24,053	24,053
Change in unrealized gain on marketable securities	15					15	15
Balance - end of period at Dec. 31, 2015	$ 3,561,428	$ 104	$ 4,282,042	$ (738,652)	$ 56,040	$ (172,291)	$ 3,427,243	$ 134,185
Ending equity balance - shares at Dec. 31, 2015	104,448,777	104,448,777

Consolidated Statement of Equi7

Consolidated Statement of Equity (Parentheticals) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Distributions declared per share (usd per share)	$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 0.95	$ 0.94	$ 0.9	$ 0.895	$ 3.8261	$ 3.685	$ 3.39

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows — Operating Activities
Net income	$ 185,227	$ 246,069	$ 132,165
Adjustments to net income:
Depreciation and amortization, including intangible assets and deferred financing costs	287,835	248,549	140,316
Impairment charges	29,906	23,067	13,709
Management income received in shares of Managed REITs and other	(23,266)	(39,866)	(33,572)
Stock-based compensation expense	21,626	31,075	37,195
Straight-line rent, amortization of rent-related intangibles, and deferred rental revenue	16,071	44,843	21,333
Allowance for credit losses	8,748	0	0
Gain on sale of real estate	(6,487)	(29,250)	(39,711)
Realized and unrealized (gain) loss on foreign currency transactions, derivatives, extinguishment of debt, and other	(1,978)	3,012	(6,154)
Deferred income taxes	1,476	(18,565)	(19,465)
Equity in losses (earnings) of equity method investments in the Managed Programs and real estate in excess of distributions received	415	(1,307)	(10,177)
Gain on change in control of interests	0	(105,947)	0
Amortization of deferred other revenue	0	(786)	(9,436)
Changes in assets and liabilities:
Increase in structuring revenue receivable	(29,327)	(23,713)	(13,788)
Deferred acquisition revenue received	23,469	15,724	18,633
Payments for withholding taxes upon delivery of equity-based awards and exercises of stock options	(18,742)	(17,165)	(11,476)
Net changes in other operating assets and liabilities	(17,696)	23,352	(11,664)
Net Cash Provided by Operating Activities	477,277	399,092	207,908
Cash Flows — Investing Activities
Purchases of real estate	(674,808)	(898,162)	(265,383)
Funding of short-term loans to affiliates	(185,447)	(11,000)	(15,000)
Proceeds from repayment of short-term loans to affiliates	185,447	11,000	15,000
Proceeds from sale of real estate	35,557	285,742	171,300
Investment in real estate under construction	(28,040)	(20,647)	0
Change in investing restricted cash	26,610	(23,731)	43,067
Capital contributions to equity investments in real estate	(16,229)	(25,468)	(1,945)
Proceeds from repayment of note receivable	10,441	1,915	0
Value added taxes paid in connection with acquisition of real estate	(10,401)	(7,036)	(502)
Value added taxes refunded in connection with acquisition of real estate	9,997	0	121
Distributions received from equity investments in the Managed Programs and real estate in excess of equity income	8,200	13,101	58,018
Capital expenditures on owned real estate	(4,415)	(5,757)	(6,906)
Capital expenditures on corporate assets	(4,321)	(18,262)	(7,133)
Other investing activities, net	2,224	1,652	2,989
Cash acquired in connection with the CPA®:16 Merger	0	65,429	0
Purchase of securities	0	(7,664)	0
Cash paid to stockholders of CPA®:16 – Global in the CPA®:16 Merger	0	(1,338)	0
Net Cash Used in Investing Activities	(645,185)	(640,226)	(6,374)
Cash Flows — Financing Activities
Repayments of Senior Unsecured Credit Facility	(1,330,122)	(1,415,000)	(413,000)
Proceeds from Senior Unsecured Credit Facility	1,044,767	1,757,151	735,000
Proceeds from issuance of Senior Unsecured Notes	1,022,303	498,195	0
Distributions paid	(403,555)	(347,902)	(220,395)
Prepayments of mortgage principal	(91,560)	(220,786)	0
Scheduled payments of mortgage principal	(90,328)	(205,024)	(391,764)
Proceeds from mortgage financing	22,667	20,354	115,567
Distributions paid to noncontrolling interests	(14,713)	(20,646)	(72,059)
Windfall tax benefit associated with stock-based compensation awards	12,522	5,641	12,817
Payment of financing costs	(10,878)	(12,321)	(2,368)
Change in financing restricted cash	(9,811)	(588)	(1,843)
Contributions from noncontrolling interests	730	693	65,145
Proceeds from exercise of stock options and employee purchases under the employee share purchase plan	515	1,890	2,312
Proceeds from issuance of shares in public offering	0	282,162	0
Repurchase of shares	0	(679)	(40,000)
Net Cash Provided by (Used in) Financing Activities	152,537	343,140	(210,588)
Change in Cash and Cash Equivalents During the Year
Effect of exchange rate changes on cash	(26,085)	(20,842)	2,669
Net (decrease) increase in cash and cash equivalents	(41,456)	81,164	(6,385)
Cash and cash equivalents, beginning of year	198,683	117,519	123,904
Cash and cash equivalents, end of year	$ 157,227	$ 198,683	$ 117,519

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Parentheticals 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Nov. 27, 2013
Supplemental Cash Flow Information
Net investment in properties	$ 5,011,145	$ 4,833,074	$ 33,625

Consolidated Statements of Ca10

Consolidated Statements of Cash Flows (Parentheticals 2) $ in Thousands	Jan. 31, 2014USD ($)
CPA: 16 - Global
Total Consideration
Fair value of W.P.Carey shares of common stock issued	$ 1,815,521
Cash consideration paid	1,338
Fair value equity interest in jointly-owned investments with equity investment prior to merger	349,749
Fair value of noncontrolling interests acquired	(278,187)
Total Consideration	2,061,141
Assets Acquired at Fair Value
Net investments in real estate	1,970,175
Net investment in direct financing leases	538,225
Equity investments in real estate	74,367
Assets held for sale	133,415
Goodwill	346,642
In-place lease intangible assets	553,723
Above-market rent intangible assets	395,824
Other assets	85,567
Liabilities Assumed at Fair Value
Non-recourse debt	(1,768,288)
Accounts payable, accrued expenses and other liabilities	(118,389)
Below-market rent and other intangible liabilities	(57,569)
Deferred tax liability	(58,347)
Amounts attributable to noncontrolling interests	(99,633)
Net assets acquired excluding cash	1,995,712
Cash acquired on acquisition of subsidiaries	65,429
Jointly Owned Investments | CPA: 16 - Global
Total Consideration
Fair value equity interest in jointly-owned investments with equity investment prior to merger	$ 172,720

Consolidated Statements of Ca11

Consolidated Statements of Cash Flows (Parentheticals 3) $ in Thousands	Nov. 27, 2013USD ($)
Total Consideration
Cash consideration	$ 13,748
Assets Acquired at Fair Value
Net investments in real estate	33,625
In-place lease intangible assets	872
Above-market rent intangible assets	722
Other assets	1,170
Liabilities Assumed at Fair Value
Non-recourse debt	(21,023)
Below-market rent and other intangible liabilities	(1,618)
Total identifiable net assets	$ 13,748

Consolidated Statements of Ca12

Consolidated Statements of Cash Flows (Parentheticals 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information
Interest paid	$ 174,504	$ 156,335	$ 98,599
Income taxes paid	$ 61,697	$ 25,247	$ 14,405

Business and Organization

Business and Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Business and Organization W. P. Carey Inc., or W. P. Carey, is, together with its consolidated subsidiaries and predecessors, a REIT that provides long-term financing via sale-leaseback and build-to-suit transactions for companies worldwide and manages a global investment portfolio. We invest primarily in commercial properties domestically and internationally. We earn revenue principally by leasing the properties we own to single corporate tenants, primarily on a triple-net lease basis, which generally requires each tenant to pay substantially all of the costs associated with operating and maintaining the property. Originally founded in 1973, we reorganized as a REIT in September 2012 in connection with our merger with Corporate Property Associates 15 Incorporated. We refer to that merger as the CPA ® :15 Merger. On January 31, 2014, Corporate Property Associates 16 – Global Incorporated, or CPA ® :16 – Global, merged with and into us ( Note 3 ), which we refer to as the CPA ® :16 Merger. Our shares of common stock are listed on the New York Stock Exchange under the symbol “WPC.” We have elected to be taxed as a REIT under Section 856 through 860 of the Internal Revenue Code. As a REIT, we are not generally subject to United States federal income taxation other than from our taxable REIT subsidiaries, or TRSs, as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, as well as other factors. We hold all of our real estate assets attributable to our Real Estate Ownership segment under the REIT structure, while the activities conducted by our Investment Management segment subsidiaries have been organized under TRSs. Through our TRSs we also earn revenue as the advisor to publicly-owned, non-listed REITs, which are sponsored by us under the Corporate Property Associates, or CPA ® , brand name that invest in similar properties. At December 31, 2015 , we were the advisor to Corporate Property Associates 17 – Global Incorporated, or CPA ® :17 – Global, and Corporate Property Associates 18 – Global Incorporated, or CPA ® :18 – Global. We were also the advisor to CPA ® :16 – Global until its merger with us on January 31, 2014. We refer to CPA ® :16 – Global, CPA ® :17 – Global, and CPA ® :18 – Global together as the CPA ® REITs. At December 31, 2015 , we were also the advisor to Carey Watermark Investors Incorporated, referred to as CWI 1, and Carey Watermark Investors 2 Incorporated, or CWI 2, two publicly-owned, non-listed REITs that invest in lodging and lodging-related properties. We refer to CWI 1 and CWI 2 together as the CWI REITs and, together with the CPA ® REITs, as the Managed REITs ( Note 4 ). At December 31, 2015 , we also served as the advisor to Carey Credit Income Fund, or CCIF, a business development company, or BDC ( Note 7 ). In July 2015, two registration statements on Form N-2 for two feeder funds of CCIF, or the CCIF Feeder Funds, were declared effective by the SEC. The CCIF Feeder Funds intend to invest the proceeds that they raise in their respective public offerings into the master fund, CCIF. The advisor to CCIF is wholly owned by us. We refer to CCIF and the CCIF Feeder Funds collectively as the Managed BDCs and, together with the Managed REITs, as the Managed Programs. Reportable Segments Real Estate Ownership — We own and invest in commercial properties principally in the United States, Europe, and Asia that are then leased to companies, primarily on a triple-net lease basis. We have also invested in several operating properties, such as lodging and self-storage properties. We earn lease revenues from our wholly-owned and co-owned real estate investments that we control. In addition, we generate equity income through co-owned real estate investments that we do not control and through our ownership of shares of the Managed Programs ( Note 7 ). Through our special member interests in the operating partnerships of the Managed REITs, we also participate in their cash flows ( Note 4 ). At December 31, 2015 , our owned portfolio was comprised of our full or partial ownership interests in 869 properties, totaling approximately 90.1 million square feet (unaudited), substantially all of which were net leased to 222 tenants, with an occupancy rate of 98.8% . Investment Management — Through our TRSs, we structure and negotiate investments and debt placement transactions for the Managed REITs, for which we earn structuring revenue, and manage their portfolios of real estate investments, for which we earn asset-based management revenue. We also earn asset management revenue from CCIF based on the average of its gross assets at fair value. We may earn disposition revenue when we negotiate and structure the sale of properties on behalf of the Managed REITs, and we may also earn incentive revenue and receive other compensation in connection with providing liquidity events for the Managed REITs’ stockholders. At December 31, 2015 , CPA ® :17 – Global and CPA ® :18 – Global collectively owned all or a portion of 428 properties, including certain properties in which we have an ownership interest. Substantially all of these properties, totaling approximately 49.6 million square feet (unaudited), were net leased to 201 tenants, with an average occupancy rate of approximately 99.9% . The Managed REITs also had interests in 174 operating properties, totaling approximately 19.7 million square feet (unaudited). We continue to explore alternatives for expanding our investment management operations by raising funds beyond advising the existing Managed Programs. Any such expansion could involve the purchase of properties or other investments as principal, either for our owned portfolio or with the intention of transferring such investments to a newly-created fund, as well as the sponsorship of one or more funds to make investments other than primarily net lease investments, such as the CWI REITs and the Managed BDCs. These new funds could invest primarily in assets other than net-lease real estate and could include funds raised through private placements or publicly-traded vehicles, either in the United States or internationally.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Summary of Significant Accounting Policies Critical Accounting Policies and Estimates Accounting for Acquisitions In accordance with the guidance for business combinations, we determine whether a transaction or other event is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method. If the assets acquired are not a business, we account for the transaction or other event as an asset acquisition. Under both methods, we recognize the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquired entity. In addition, for transactions that are business combinations, we evaluate the existence of goodwill or a gain from a bargain purchase. We capitalize acquisition-related costs and fees associated with asset acquisitions. We immediately expense acquisition-related costs and fees associated with business combinations. Purchase Price Allocation of Tangible Assets — When we acquire properties with leases classified as operating leases, we allocate the purchase price to the tangible and intangible assets and liabilities acquired based on their estimated fair values. The tangible assets consist of land, buildings, and site improvements. The intangible assets include the above- and below-market value of leases and the in-place leases, which includes a value for tenant relationships. Land is typically valued utilizing the sales comparison (or market) approach. Buildings are valued, as if vacant, using the cost and/or income approach. Site improvements are valued using the cost approach. The fair value of real estate is determined (i) primarily by reference to portfolio appraisals, which determines their values on a property level, by applying a discounted cash flow analysis to the estimated net operating income for each property in the portfolio during the remaining anticipated lease term, and (ii) by the estimated residual value, which is based on a hypothetical sale of the property upon expiration of a lease factoring in the re-tenanting of such property at estimated current market rental rates, applying a selected capitalization rate, and deducting estimated costs of sale. Assumptions used in the model are property-specific where this information is available; however, when certain necessary information is not available, we use available regional and property-type information. Assumptions and estimates include the following: • a discount rate or internal rate of return; • the marketing period necessary to put a lease in place; • carrying costs during the marketing period; • leasing commissions and tenant improvement allowances; • market rents and growth factors of these rents; and • a market lease term and a capitalization rate to be applied to an estimate of market rent at the end of the market lease term. The discount rates and residual capitalization rates used to value the properties are selected based on several factors, including: • the creditworthiness of the lessees; • industry surveys; • property type; • property location and age; • current lease rates relative to market lease rates; and • anticipated lease duration. In the case where a tenant has a purchase option deemed to be favorable to the tenant, or the tenant has long-term renewal options at rental rates below estimated market rental rates, we include the value of the exercise of such purchase option or long-term renewal options in the determination of residual value. Where a property is deemed to have excess land, the discounted cash flow analysis includes the estimated excess land value at the assumed expiration of the lease, based upon an analysis of comparable land sales or listings in the general market area of the property adjusted for estimated market growth rates through the year of lease expiration. The remaining economic life of leased assets is estimated by relying in part upon third-party appraisals of the leased assets, industry standards, and based on our experience. Different estimates of remaining economic life will affect the depreciation expense that is recorded. Purchase Price Allocation of Intangible Assets — We record above- and below-market lease intangible values for acquired properties based on the present value (using a discount rate reflecting the risks associated with the leases acquired including consideration of the credit of the lessee) of the difference between (i) the contractual rents to be paid pursuant to the leases negotiated and in place at the time of acquisition of the properties and (ii) our estimate of fair market lease rates for the property or equivalent property, both of which are measured over the estimated lease term, which includes renewal options that have rental rates below estimated market rental rates. We discount the difference between the estimated market rent and contractual rent to a present value using an interest rate reflecting our current assessment of the risk associated with the lease acquired, which includes a consideration of the credit of the lessee. Estimates of market rent are generally determined by us relying in part upon a third-party appraisal obtained in connection with the property acquisition and can include estimates of market rent increase factors, which are generally provided in the appraisal or by local real estate brokers. We measure the fair value of below-market purchase option liabilities we acquire as the excess of the present value of the fair value of the real estate over the present value of the tenant’s exercise price at the option date. We evaluate the specific characteristics of each tenant’s lease and any pre-existing relationship with each tenant in determining the value of in-place lease intangibles. To determine the value of in-place lease intangibles, we consider the following: • estimated market rent; • estimated lease term, including renewal options at rental rates below estimated market rental rates; • estimated carrying costs of the property during a hypothetical expected lease-up period; and • current market conditions and costs to execute similar leases, including tenant improvement allowances and rent concessions. Estimated carrying costs of the property include real estate taxes, insurance, other property operating costs, and estimates of lost rentals at market rates during the market participants’ expected lease-up periods, based on assessments of specific market conditions. We determine these values using our estimates or by relying in part upon third-party appraisals conducted by independent appraisal firms. We amortize the above-market lease intangible as a reduction of lease revenue over the remaining contractual lease term. We amortize the below-market lease intangible as an increase to lease revenue over the initial term and any renewal periods in the respective leases. We include the value of below-market leases in Below-market rent and other intangible liabilities in the consolidated financial statements. We include the amortization of above- and below-market ground lease intangibles in Property expenses in the consolidated financial statements. The value of any in-place lease is estimated to be equal to the acquirer’s avoidance of costs as a result of having tenants in place, that would be necessary to lease the property for a lease term equal to the remaining primary in-place lease term and the value of investment grade tenancy. The cost avoidance is derived first by determining the in-place lease term on the subject lease. Then, based on our review of the market, the cost to be borne by a property owner to replicate a market lease to the remaining in-place term is estimated. These costs consist of: (i) rent lost during downtime (i.e., assumed periods of vacancy), (ii) estimated expenses that would be incurred by the property owner during periods of vacancy, (iii) rent concessions (i.e. free rent), (iv) leasing commissions, and (v) tenant improvements allowances given to tenants. We determine these values using our estimates or by relying in part upon third-party appraisals. We amortize the value of in-place lease intangibles to expense over the remaining initial term of each lease. The amortization period for intangibles does not exceed the remaining depreciable life of the building. If a lease is terminated, we charge the unamortized portion of above- and below-market lease values to rental income and in-place lease values to amortization expense. Purchase Price Allocation of Debt — When we acquire leveraged properties, the fair value of the related debt instruments is determined using a discounted cash flow model with rates that take into account the credit of the tenants, where applicable, and interest rate risk. Such resulting premium or discount is amortized over the remaining term of the obligation. We also consider the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant, the time until maturity and the current interest rate. Purchase Price Allocation of Goodwill — In the case of a business combination, after identifying all tangible and intangible assets and liabilities, the excess consideration paid over the fair value of the assets and liabilities acquired and assumed, respectively, represents goodwill. We allocate goodwill to the respective reporting units in which such goodwill arises. Goodwill acquired in the CPA ® :15 Merger and the CPA ® :16 Merger was attributed to the Real Estate Ownership segment which comprises one reporting unit. In the event we dispose of a property that constitutes a business under GAAP from a reporting unit with goodwill, we allocate a portion of the reporting unit’s goodwill to that business in determining the gain or loss on the disposal of the business. The amount of goodwill allocated to the business is based on the relative fair value of the business to the fair value of the reporting unit. All or a portion of the goodwill may be attributed to foreign deferred tax liabilities assumed in the business combination. The deferred tax liability results from the excess of basis under GAAP over the tax basis of the asset in the taxing jurisdiction. Impairments We periodically assess whether there are any indicators that the value of our long-lived real estate and related intangible assets, may be impaired or that their carrying value may not be recoverable. These impairment indicators include, but are not limited to, the vacancy of a property that is not subject to a lease, an upcoming lease expiration, a tenant with credit difficulty, the termination of a lease by a tenant, or a likely disposition of the property. We may incur impairment charges on long-lived assets, including real estate, related intangible assets, direct financing leases, assets held for sale, and equity investments in real estate. We may also incur impairment charges on marketable securities and goodwill. Our policies and estimates for evaluating whether these assets are impaired are presented below. Real Estate — For real estate assets held for investment and related intangible assets in which an impairment indicator is identified, we follow a two-step process to determine whether an asset is impaired and to determine the amount of the charge. First, we compare the carrying value of the property’s asset group to the estimated future net undiscounted cash flow that we expect the property’s asset group will generate, including any estimated proceeds from the eventual sale of the property’s asset group. The undiscounted cash flow analysis requires us to make our best estimate of market rents, residual values, and holding periods. We estimate market rents and residual values using market information from outside sources such as broker quotes or recent comparable sales. In cases where the available market information is not deemed appropriate, we perform a future net cash flow analysis discounted for inherent risk associated with each asset to determine an estimated fair value. As our investment objective is to hold properties on a long-term basis, holding periods used in the undiscounted cash flow analysis are generally ten years, but may be less if our intent is to hold a property for less than ten years. Depending on the assumptions made and estimates used, the future cash flow projected in the evaluation of long-lived assets and associated intangible assets can vary within a range of outcomes. We consider the likelihood of possible outcomes in determining our estimate of future cash flows and, if warranted, we apply a probability-weighted method to the different possible scenarios. If the future net undiscounted cash flow of the property’s asset group is less than the carrying value, the carrying value of property’s asset group is considered not recoverable. We then measure the impairment loss as the excess of the carrying value of the property’s asset group over its estimated fair value. The estimated fair value of the property’s asset group is primarily determined using market information from outside sources such as broker quotes or recent comparable sales. In cases where the available market information is not deemed appropriate, we perform a future net cash flow analysis discounted for inherent risk associated with each asset to determine an estimated fair value. Assets Held for Sale — We classify real estate assets that are subject to operating leases as held for sale when we have entered into a contract to sell the property, all material due diligence requirements have been satisfied, and we believe it is probable that the disposition will occur within one year. When we classify an asset as held for sale, we compare the asset’s fair value less estimated cost to sell to its carrying value, and if the fair value less estimated cost to sell is less than the property’s carrying value, we reduce the carrying value to the fair value less estimated cost to sell. We base the fair value on the contract and the estimated cost to sell on information provided by brokers and legal counsel. We then compare the asset’s fair value (less estimated cost to sell) to its carrying value, and if the fair value, less estimated cost to sell, is less than the property’s carrying value, we reduce the carrying value to the fair value, less estimated cost to sell. We will continue to review the property for subsequent changes in the fair value, and may recognize an additional impairment charge, if warranted. Direct Financing Leases — We review our direct financing leases at least annually to determine whether there has been an other-than-temporary decline in the current estimate of residual value of the property. The residual value is our estimate of what we could realize upon the sale of the property at the end of the lease term, based on market information and third-party estimates, where available. If this review indicates that a decline in residual value has occurred that is other-than-temporary, we recognize an impairment charge equal to the difference between the fair value and carrying amount of the residual value. When we enter into a contract to sell the real estate assets that are recorded as direct financing leases, we evaluate whether we believe it is probable that the disposition will occur. If we determine that the disposition is probable, and therefore the asset’s holding period is reduced, we assess the carrying amount for recoverability and if as a result of the decreased expected cash flows we determine that our carrying value is not fully recoverable, we record an allowance for credit losses to reflect the change in the estimate of the future cash flows that includes rent. Accordingly, the net investment balance is written down to fair value. Equity Investments in the Managed Programs and Real Estate — We evaluate our equity investments in the Managed Programs and real estate on a periodic basis to determine if there are any indicators that the value of our equity investment may be impaired and whether or not that impairment is other-than-temporary. To the extent an impairment has occurred and is determined to be other-than-temporary, we measure the charge as the excess of the carrying value of our investment over its estimated fair value, which is determined by calculating our share of the estimated fair market value of the underlying net assets based on the terms of the applicable partnership or joint venture agreement. For our equity investments in real estate, we calculate the estimated fair value of the underlying investment’s real estate or net investment in direct financing lease as described in Real Estate and Direct Financing Leases above. The fair value of the underlying investment’s debt, if any, is calculated based on market interest rates and other market information. The fair value of the underlying investment’s other financial assets and liabilities (excluding net investment in direct financing leases) have fair values that generally approximate their carrying values. For certain investments in the Managed REITs, we calculate the estimated fair value of our investment using the most recently published net asset value per share of each Managed REIT, which for CPA ® :18 – Global is deemed to be the most recent public offering price through December 31, 2015 , multiplied by the number of shares owned. Goodwill — We evaluate goodwill for possible impairment at least annually or upon the occurrence of a triggering event using a two-step process. A triggering event is an event or circumstance that would more likely than not reduce the fair value of a reporting unit below its carrying amount, including sales of properties defined as businesses for which the relative size of the sold property is significant to the reporting unit, that could impact our goodwill impairment calculations. To identify any impairment, we first compare the estimated fair value of each of our reporting units with their respective carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, we do not consider goodwill to be impaired and no further analysis is required. If the carrying amount of the reporting unit exceeds its estimated fair value, we then perform the second step to determine and measure the amount of the potential impairment charge. We calculate the estimated fair value of the Investment Management reporting unit by applying a price-to-EBITDA multiple to earnings. For the Real Estate Ownership reporting unit, we calculate its estimated fair value by applying an AFFO multiple. For both reporting units, the multiples are based on comparable companies. The selection of the comparable companies to be used in our evaluation process could have a significant impact on the fair value of our reporting units and possible impairments. The testing did not indicate any goodwill impairment as each of the reporting units with goodwill had fair value that was substantially in excess of the carrying value. For the second step, if it were required, we compare the implied fair value of the goodwill for each reporting unit with its respective carrying amount and record an impairment charge equal to the excess of the carrying amount over the implied fair value. We would determine the implied fair value of the goodwill by allocating the estimated fair value of the reporting unit to its assets and liabilities. The excess of the estimated fair value of the reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of the goodwill. The goodwill recorded in our Investment Management and Real Estate Ownership reporting units is evaluated during the fourth quarter of every year. In connection with the CPA ® :16 Merger and the CPA ® :15 Merger, we recorded goodwill in our Real Estate Ownership reporting unit. Prior to the CPA ® :15 Merger, there was no goodwill recorded in our Real Estate Ownership reporting unit. Other Accounting Policies Basis of Consolidation — Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries and our tenancy-in-common interest as described below. The portion of equity in a consolidated subsidiary that is not attributable, directly or indirectly, to us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. At December 31, 2015 , we had an investment in a tenancy-in-common interest in various underlying international properties. Consolidation of this investment is not required as such interest does not qualify as a VIE and does not meet the control requirement for consolidation. Accordingly, we account for this investment using the equity method of accounting. We use the equity method of accounting because the shared decision-making involved in a tenancy-in-common interest investment provides us with significant influence on the operating and financial decisions of this investment. We also had certain investments in other wholly-owned tenancy-in-common interests, which we now consolidate after we obtained the remaining interests in the CPA ® :16 Merger. When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we should be deemed to be the primary beneficiary and are therefore required to consolidate the entity. We apply accounting guidance for consolidation of VIEs to certain entities in which the equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. Fixed price purchase and renewal options within a lease as well as certain decision-making rights within a loan or joint-venture agreement can cause us to consider an entity a VIE. Significant judgment is required to determine whether a VIE should be consolidated. We review the contractual arrangements provided for in the partnership agreement or other related contracts to determine whether the entity is considered a VIE, and to establish whether we have any variable interests in the VIE. We then compare our variable interests, if any, to those of the other variable interest holders to determine which party is the primary beneficiary of the VIE based on whether the entity (i) has the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. At December 31, 2015 , we consolidated 20 VIEs. In connection with the CPA ® :16 Merger, we acquired 12 VIEs. We consider these entities VIEs because the leases have certain features such as fixed price purchase or renewal options. For an entity that is not considered to be a VIE but rather a voting interest entity, the general partners in a limited partnership (or similar entity) are presumed to control the entity regardless of the level of their ownership and, accordingly, may be required to consolidate the entity. We evaluate the partnership agreements or other relevant contracts to determine whether there are provisions in the agreements that would overcome this presumption. If the agreements provide the limited partners with either (i) the substantive ability to dissolve or liquidate the limited partnership or otherwise remove the general partners without cause or (ii) substantive participating rights, the limited partners’ rights overcome the presumption of control by a general partner of the limited partnership, and, therefore, the general partner must account for its investment in the limited partnership using the equity method of accounting. Additionally, we own interests in single-tenant, net-leased properties leased to companies through noncontrolling interests in partnerships and limited liability companies that we do not control, but over which we exercise significant influence. We account for these investments under the equity method of accounting. At times, the carrying value of our equity investments may fall below zero for certain investments. We intend to fund our share of the jointly-owned investments’ future operating deficits should the need arise. However, we have no legal obligation to pay for any of the liabilities of such investments nor do we have any legal obligation to fund operating deficits. At December 31, 2015 , one of our equity investments was a VIE and none had carrying values below zero. Reclassifications — Certain prior period amounts have been reclassified to conform to the current period presentation. Share Repurchases — During the year ended December 31, 2015, we determined that our presentation of common shares repurchased should be classified as a reduction to Common stock, for the par amount of the common stock repurchase, Additional paid-in capital, and Distributions in excess of accumulated earnings, and included as shares unissued within the consolidated financial statements. We previously classified common shares repurchased as Treasury stock. We repurchased 416,408 shares in 2012, 616,971 shares in 2013, and 11,037 shares in 2014. We evaluated the impact of this correction on previously-issued financial statements and concluded that they were not materially misstated. In order to conform previously-issued financial statements to the current period, we elected to revise previously-issued financial statements the next time such financial statements are filed. The accompanying consolidated balance sheet as of December 31, 2014 and the consolidated statements of equity for the years ended December 31, 2014 and 2013 have been revised accordingly. In addition, we will revise the consolidated statements of equity for the periods ended March 31, 2015, June 30, 2015, and September 30, 2015, as those financial statements are presented in future filings. The correction eliminates Treasury stock of $60.9 million and results in corresponding reductions of Common stock, Additional paid-in capital of $28.8 million , and Distributions in excess of accumulated earnings of $32.1 million , which results in no change in Total equity within the consolidated balance sheets as of December 31, 2014 and consolidated statements of equity for the years ended December 31, 2014 and 2013. The misclassification had no impact on the previously-reported consolidated statements of income, consolidated statements of comprehensive income, or consolidated statements of cash flows. Real Estate and Operating Real Estate — We carry land, buildings, and personal property at cost less accumulated depreciation. We capitalize improvements and significant renovations that extend the useful life of the properties, while we expense replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets as incurred. Assets Held for Sale — We classify those assets that are associated with operating leases as held for sale when we have entered into a contract to sell the property, all material due diligence requirements have been satisfied, and we believe it is probable that the disposition will occur within one year. Assets held for sale are recorded at the lower of carrying value or estimated fair value, less estimated costs to sell. Prior to January 1, 2014, the results of operations and the related gain or loss on sale of properties that have been sold or that were classified as held for sale and in which we will have no significant continuing involvement are included in discontinued operations ( Note 16 ). If circumstances arise that we previously considered unlikely and, as a result, we decide not to sell a property previously classified as held for sale, we reclassify the property as held and used. We measure and record a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used or (ii) the estimated fair value at the date of the subsequent decision not to sell. We recognize gains and losses on the sale of properties when, among other criteria, we no longer have continuing involvement, the parties are bound by the terms of the contract, all consideration has been exchanged, and all conditions precedent to closing have been performed. At the time the sale is consummated, a gain or loss is recognized as the difference between the sale price, less any selling costs, and the carrying value of the property. Notes Receivable — For investments in mortgage notes and loan participations, the loans are initially reflected at acquisition cost, which consists of the outstanding balance, net of the acquisition discount or premium. We amortize any discount or premium as an adjustment to increase or decrease, respectively, the yield realized on these loans over the life of the loan. As such, differences between carrying value and principal balances outstanding do not represent embedded losses or gains as we generally plan to hold such loans to maturity. Our notes receivable are included in Other assets, net in the consolidated financial statements. Cash and Cash Equivalents — We consider all short-term, highly-liquid investments that are both readily convertible to cash and have a maturity of three months or less at the time of purchase to be cash equivalents. Items classified as cash equivalents include commercial paper and money market funds. Our cash and cash equivalents are held in the custody of several financial institutions, and these balances, at times, exceed federally-insurable limits. We seek to mitigate this risk by depositing funds only with major financial institutions. Internal-Use Software Development Costs — We expense costs associated with the assessment stage of software development projects. Upon completion of the preliminary project assessment stage, we capitalize internal and external costs associated with the application development stage, including the costs associated with software that allows for the conversion of our old data to our new system. We expense the personnel-related costs of training and data conversion. We also expense costs associated with the post-implementation and operation stage, including maintenance and specified upgrades; however, we capitalize internal and external costs associated with significant upgrades to existing systems that result in additional functionality. Capitalized costs are amortized on a straight-line basis over the software’s estimated useful life, which is three to seven years . Periodically, we reassess the useful life considering technology, obsolescence, and other factors. Other Assets and Liabilities — We include prepaid expenses, deferred rental income, tenant receivables, deferred charges, escrow balances held by lenders, restricted cash balances, marketable securities, derivative assets, other intangible assets, corporate fixed assets and notes receivable in Other assets, net. We include derivative liabilities, amounts held on behalf of tenants, and deferred revenue in Other liabilities. Deferred charges are costs incurred in connection with mortgage financings, refinancings, issuance of corporate bonds, and the amendment of our credit facility that are amortized over the terms of the debt and included in Interest expense in the consolidated financial statements. Deferred rental income is the aggregate cumulative difference for operating leases between scheduled rents that vary during the lease term, and rent recognized on a straight-line basis. Allowance for Doubtful Accounts — We consider rents due under leases and payments under notes receivable to be past-due or delinquent when a contractually required rent, principal or interest payment is not remitted in accordance with the provisions of the underlying agreement. We evaluate each account individually and set up an allowance when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms, and the amount can be reasonably estimated. Revenue Recognition, Real Estate Leased to Others — We lease real estate to others primarily on a triple-net leased basis, whereby the tenant is generally responsible for operating expenses relating to the property, including property taxes, insurance, maintenance, repairs, and improvements. For the years ended December 31, 2015 ,

Merger with CPA_16 Global

Merger with CPA:16 Global	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Merger with CPA:16 - Global	Merger with CPA ® :16 – Global On July 25, 2013, we and CPA ® :16 – Global entered into a definitive agreement pursuant to which CPA ® :16 – Global would merge with and into one of our wholly-owned subsidiaries, subject to the approval of our stockholders and the stockholders of CPA ® :16 – Global. On January 24, 2014, our stockholders and the stockholders of CPA ® :16 – Global each approved the CPA ® :16 Merger, and the CPA ® :16 Merger closed on January 31, 2014. In the CPA ® :16 Merger, CPA ® :16 – Global stockholders received 0.1830 shares of our common stock in exchange for each share of CPA ® :16 – Global stock owned, pursuant to an exchange ratio based upon a value of $11.25 per share of CPA ® :16 – Global and the volume weighted-average trading price of our common stock for the five consecutive trading days ending on the third trading day preceding the closing of the transaction on January 31, 2014. CPA ® :16 – Global stockholders received cash in lieu of any fractional shares in the CPA ® :16 Merger. We paid total merger consideration of approximately $1.8 billion , including the issuance of 30,729,878 shares of our common stock with a fair value of $1.8 billion based on the closing price of our common stock on January 31, 2014, of $59.08 per share, to the stockholders of CPA ® :16 – Global in exchange for the 168,041,772 shares of CPA ® :16 – Global common stock that we and our affiliates did not previously own, and cash of $1.3 million paid in lieu of issuing any fractional shares, or collectively, the Merger Consideration. As a condition of the CPA ® :16 Merger, we waived the subordinated disposition and termination fees that we would have been entitled to receive from CPA ® :16 – Global upon its liquidation pursuant to the terms of our advisory agreement with CPA ® :16 – Global ( Note 4 ). Immediately prior to the CPA ® :16 Merger, CPA ® :16 – Global’s portfolio was comprised of the consolidated full or partial interests in 325 leased properties, substantially all of which were triple-net leased with an average remaining life of 10.4 years and an estimated contractual minimum annualized base rent, or ABR, totaling $300.1 million , and two hotel properties. The related property-level debt was comprised of 92 fixed-rate and 18 variable-rate non-recourse mortgage loans with an aggregate fair value of approximately $1.8 billion and a weighted-average annual interest rate of 5.6% at that date. Additionally, CPA ® :16 – Global had a line of credit with an outstanding balance of $170.0 million on the date of the closing of the CPA ® :16 Merger. In addition, CPA ® :16 – Global had equity interests in 18 unconsolidated investments, 11 of which were consolidated by us prior to the CPA ® :16 Merger, five of which were consolidated by us subsequent to the CPA ® :16 Merger, and two of which were jointly-owned with CPA ® :17 – Global. These investments owned 140 properties, substantially all of which were triple-net leased with an average remaining life of 8.6 years and an estimated ABR totaling $63.9 million , as of January 31, 2014. The debt related to these equity investments was comprised of 17 fixed-rate and five variable-rate non-recourse mortgage loans with an aggregate fair value of approximately $0.3 billion and a weighted-average annual interest rate of 4.8% on January 31, 2014. The lease revenues and income from continuing operations from the properties acquired from the date of the CPA ® :16 Merger through December 31, 2014 were $251.5 million and $91.1 million (inclusive of $2.4 million attributable to noncontrolling interests), respectively. During 2014 , we sold all ten of the properties that were classified as held for sale upon acquisition in connection with the CPA ® :16 Merger ( Note 16 ). The results of operations for all ten of these properties have been included in Income from discontinued operations, net of tax in the consolidated financial statements. In addition, we sold one property subject to a direct financing lease that we acquired in the CPA ® :16 Merger. The results of operations for this property have been included in Income from continuing operations before income taxes in the consolidated financial statements. Purchase Price Allocation We accounted for the CPA ® :16 Merger as a business combination under the acquisition method of accounting. After consideration of all applicable factors pursuant to the business combination accounting rules, we were considered the “accounting acquirer” due to various factors, including the fact that our stockholders held the largest portion of the voting rights in us upon completion of the CPA ® :16 Merger. Costs related to the CPA ® :16 Merger of $30.5 million and $5.0 million were expensed as incurred for the years ended December 31, 2014 and 2013, respectively, and classified within Merger, property acquisition, and other expenses in the consolidated financial statements. In addition, CPA ® :16 – Global incurred a total of $10.6 million of merger expenses prior to January 31, 2014. Equity Investments and Noncontrolling Interests During the first quarter of 2014, we recognized a gain on change in control of interests of approximately $73.1 million , which was the difference between the carrying value of approximately $274.1 million and the preliminary estimated fair value of approximately $347.2 million of our previously-held equity interest in 38,229,294 shares of CPA ® :16 – Global’s common stock. During 2014, we identified certain measurement period adjustments that impacted the provisional accounting, which increased the estimated fair value of our previously-held equity interest in shares of CPA ® :16 – Global’s common stock by $2.6 million , resulting in an increase of $2.6 million in Gain on change in control of interests. In accordance with Accounting Standards Codification, or ASC, 805-10-25, we did not record the measurement period adjustments during the periods they occurred. Rather, such amounts are reflected in the financial statements for the three months ended March 31, 2014. The CPA ® :16 Merger also resulted in our acquisition of the remaining interests in nine investments in which we already had a joint interest and accounted for under the equity method. Upon acquiring the remaining interests in these investments, we owned 100% of these investments and thus accounted for the acquisitions of these interests utilizing the purchase method of accounting. Due to the change in control of the nine jointly-owned investments that occurred, we recorded a gain on change in control of interests of approximately $30.2 million during the first quarter of 2014, which was the difference between our carrying values and the estimated fair values of our previously-held equity interests on the acquisition date of approximately $142.5 million and approximately $172.7 million , respectively. Subsequent to the CPA ® :16 Merger, we consolidate these wholly-owned investments. In connection with the CPA ® :16 Merger, we also acquired the remaining interests in 12 less-than-wholly-owned investments that we already consolidate and recorded an adjustment to additional paid-in-capital of approximately $42.0 million during the first quarter of 2014 related to the difference between our carrying values and the preliminary estimated fair values of our previously-held noncontrolling interests on the acquisition date of approximately $236.8 million and $278.2 million , respectively. During 2014, we identified certain measurement period adjustments that impacted the provisional accounting, which increased the fair value of our previously-held noncontrolling interests on the acquisition date by $0.6 million , resulting in a reduction of $0.6 million to additional paid-in-capital. Pro Forma Financial Information (Unaudited) The following unaudited consolidated pro forma financial information has been presented as if the CPA ® :16 Merger had occurred on January 1, 2013 for the years ended December 31, 2014 and 2013. The pro forma financial information is not necessarily indicative of what the actual results would have been had the CPA ® :16 Merger occurred on that date, nor does it purport to represent the results of operations for future periods. (in thousands, except share and per share amounts) Years Ended December 31, 2014 2013 Pro forma total revenues $ 931,309 $ 780,578 Pro forma net income from continuing operations, net of tax $ 139,698 $ 146,525 Pro forma net income attributable to noncontrolling interests (5,380 ) 10,963 Pro forma net loss (income) attributable to redeemable noncontrolling interest 142 (1,909 ) Pro forma net income from continuing operations, net of tax attributable to W. P. Carey (a) $ 134,460 $ 155,579 Pro forma earnings per share: (a) Basic $ 1.32 $ 1.56 Diluted $ 1.31 $ 1.54 Pro forma weighted-average shares: (b) Basic 101,296,847 99,420,924 Diluted 102,360,038 100,437,886 __________ (a) The pro forma income attributable to W. P. Carey for the year ended December 31, 2013 reflects the following income and expenses recognized related to the CPA ® :16 Merger as if the CPA ® :16 Merger had taken place on January 1, 2013: (i) combined merger expenses through December 31, 2014, (ii) an aggregate gain on change in control of interests, and (iii) an income tax expense from a permanent difference upon recognition of deferred revenue associated with accelerated vesting of shares previously issued by CPA ® :16 – Global for asset management and performance fees in connection with the CPA ® :16 Merger. (b) The pro forma weighted-average shares outstanding for the years ended December 31, 2014 and 2013 were determined as if the 30,729,878 shares of our common stock issued to CPA ® :16 – Global stockholders in the CPA ® :16 Merger were issued on January 1, 2013.

Agreements and Transactions wit

Agreements and Transactions with Related Parties	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Agreements and Transactions with Related Parties	Agreements and Transactions with Related Parties Advisory Agreements with the Managed Programs We have advisory agreements with each of the Managed Programs, pursuant to which we earn fees and are entitled to receive reimbursement for fund management expenses, as well as cash distributions. We also earn fees for serving as the dealer-manager of the public offerings of the Managed Programs. Unless otherwise renewed, the advisory agreement with each of the CPA ® REITs is scheduled to expire on March 31, 2016 and the advisory agreement with each of the CWI REITs is scheduled to expire on December 31, 2016. The advisory agreement with CCIF, which commenced February 27, 2015, is subject to renewal on or before February 26, 2017 unless otherwise renewed. The following tables present a summary of revenue earned and/or cash received from the Managed Programs for the periods indicated, included in the consolidated financial statements. Asset management revenue excludes amounts received from third parties (in thousands): Years Ended December 31, 2015 2014 2013 Structuring revenue $ 92,117 $ 71,256 $ 46,589 Reimbursable costs from affiliates 55,837 130,212 73,592 Asset management revenue 49,892 37,970 42,579 Distributions of Available Cash 38,406 31,052 34,121 Dealer manager fees 4,794 23,532 10,856 Interest income on deferred acquisition fees and loans to affiliates 1,639 684 949 Incentive, termination and subordinated disposition revenue 203 — 199 Deferred revenue earned — 786 8,492 $ 242,888 $ 295,492 $ 217,377 Years Ended December 31, 2015 2014 2013 CPA ® :16 – Global $ — $ 7,999 $ 53,166 CPA ® :17 – Global 81,740 68,710 69,275 CPA ® :18 – Global 85,431 129,642 29,293 CWI 1 44,712 89,141 65,643 CWI 2 30,340 — — CCIF 665 — — $ 242,888 $ 295,492 $ 217,377 The following table presents a summary of amounts included in Due from affiliates in the consolidated financial statements (in thousands): December 31, 2015 2014 Deferred acquisition fees receivable $ 33,386 $ 26,913 Accounts receivable 15,711 2,680 Reimbursable costs 5,579 301 Current acquisition fees receivable 4,909 2,463 Asset management fee receivable 2,172 — Organization and offering costs 461 2,120 $ 62,218 $ 34,477 Asset Management Revenue Under the advisory agreements with the Managed Programs, we earn asset management revenue for managing their investment portfolios. The following table presents a summary of our asset management fee arrangements with the Managed Programs: Managed Program Rate Payable Description CPA ® :16 – Global 0.5% 2013 in shares of its common stock through July 31, 2013; in cash thereafter; 2014 in cash; 2015 N/A Rate is based on adjusted invested assets CPA ® :17 – Global 0.5% - 1.75% 2013 and 2014 in shares of its common stock; 2015 50% in cash and 50% in shares of its common stock Rate depends on the type of investment and is based on the average market or average equity value, as applicable CPA ® :18 – Global 0.5% - 1.5% 2013, 2014, and 2015 in shares of its class A common stock Rate depends on the type of investment and is based on the average market or average equity value, as applicable CWI 1 0.5% 2013 and 2014 in shares of its common stock; 2015 in cash Rate is based on the average market value of the investment; we are required to pay 20% of the asset management revenue we receive to the subadvisor CWI 2 0.55% 2013 and 2014 N/A; 2015 in shares of its class A common stock Rate is based on the average market value of the investment; we are required to pay 25% of the asset management revenue we receive to the subadvisor CCIF 1.75% - 2.00% 2013 and 2014 N/A; 2015 in cash Based on the average of gross assets at fair value; we are required to pay 50% of the asset management revenue we receive to the subadvisor Incentive Fees We are entitled to receive a quarterly incentive fee on income from CCIF equal to 100% of quarterly net investment income, before incentive fee payments, in excess of 1.875% of CCIF’s average adjusted capital up to a limit of 2.344% , plus 20% of net investment income, before incentive fee payments, in excess of 2.344% of average adjusted capital. We are also entitled to receive from CCIF an incentive fee on realized capital gains of 20% , net of (i) all realized capital losses and unrealized depreciation on a cumulative basis, and (ii) the aggregate amount, if any, of previously paid incentive fees on capital gains since inception. Upon completion of the CPA ® :16 Merger on January 31, 2014, the advisory agreement with CPA ® :16 – Global terminated. Pursuant to the terms of the merger agreement, the incentive or termination fee that we would have been entitled to receive from CPA ® :16 – Global pursuant to the terms of its advisory agreement was waived upon the completion of the CPA ® :16 Merger. Structuring Revenue Under the terms of the advisory agreements, we earn revenue for structuring and negotiating investments and related financing for the Managed REITs. We do not earn any structuring revenue from the Managed BDCs. The following table presents a summary of our structuring fee arrangements with the Managed REITs: Managed Program Rate Payable Description CPA ® :17 – Global 1% - 1.75%, 4.5% In cash; for non net-lease investments, 1% - 1.75% upon completion; for net-lease investments, 2.5% upon completion, with 2% deferred and payable in three interest-bearing annual installments Based on the total aggregate cost of the net-lease investments made; also based on the total aggregate cost of the non net-lease investments made; total limited to 6% of the contract prices in aggregate CPA ® :18 – Global 4.5% In cash; for all investments other than readily marketable real estate securities for which we will not receive any acquisition fees, 2.5% upon completion, with 2% deferred and payable in three interest-bearing annual installments Based on the total aggregate cost of the investments made; total limited to 6% of the contract prices in aggregate CWI REITs 2.5% In cash upon completion Based on the total aggregate cost of the lodging investments made; loan refinancing transactions up to 1% of the principal amount; total limited to 6% of the contract prices in aggregate Reimbursable Costs from Affiliates The Managed Programs reimburse us for certain costs that we incur on their behalf, which consist primarily of broker-dealer commissions, marketing costs, an annual distribution and shareholder servicing fee, or Shareholder Servicing Fee, and certain personnel and overhead costs, as applicable. The following tables present summaries of such fee arrangements: Broker-Dealer Selling Commissions Managed Program Rate Payable Description CPA ® :18 – Global and CWI 2 Class A Shares, and CWI 1 Common Stock $0.70 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CPA ® :18 – Global Class C Shares $0.14 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CWI 2 Class T Shares $0.19 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CCIF Feeder Funds 0% - 3% In cash upon share settlement; 100% re-allowed to broker-dealers Based on the selling price of each share sold Dealer Manager Fees Managed Program Rate Payable Description CPA ® :18 – Global and CWI 2 Class A Shares, and CWI 1 Common Stock $0.30 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CPA ® :18 – Global Class C Shares $0.21 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CWI 2 Class T Shares $0.26 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CCIF Feeder Funds 2.75% - 3.0% Based on the selling price of each share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers Annual Distribution and Shareholder Servicing Fee Managed Program Rate Payable Description CPA ® :18 – Global Class C Shares 1.0% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the purchase price per share sold or, once reported, the NAV; cease paying when underwriting compensation from all sources equals 10% of gross offering proceeds CWI 2 Class T Shares 1.0% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the purchase price per share sold or, once reported, the NAV; limited to six years and 10% of gross offering proceeds Personnel and Overhead Costs Managed Program Payable Description CPA ® :17 – Global and CPA ® :18 – Global In cash Personnel and overhead costs, excluding those related to our legal transactions group, our senior management, and our investments team, are charged to the CPA ® REITs based on the average of the trailing 12-month aggregate reported revenues of the Managed REITs and us, and for 2015, are capped at 2.4% of each CPA ® REIT’s pro rata lease revenues; for the legal transactions group, costs are charged according to a fee schedule CWI 1 2013 N/A; 2014 in shares of its common stock; 2015 in cash Actual expenses incurred; allocated between the CWI REITs based on the percentage of their total pro rata hotel revenues for the most recently completed quarter CWI 2 2013 and 2014 N/A; 2015 in cash Actual expenses incurred; allocated between the CWI REITs based on the percentage of their total pro rata hotel revenues for the most recently completed quarter CCIF and CCIF Feeder Funds 2013 and 2014 N/A; 2015 in cash Actual expenses incurred Organization and Offering Costs Managed Program Payable Description CPA ® :18 – Global and CWI 2 In cash; within 60 days after the end of the quarter in which the offering terminates Actual costs incurred from 1.5% through 4.0% of the gross offering proceeds, depending on the amount raised CWI 1 In cash; within 60 days after the end of the quarter in which the offering terminates Actual costs incurred up to 4.0% of the gross offering proceeds CCIF and CCIF Feeder Funds In cash; payable monthly Up to 1.5% of the gross offering proceeds For CCIF, total reimbursements to us for personnel and overhead costs and organization and offering costs may not exceed 18% of total Front End Fees, as defined in its Declaration of Trust, so that total funds available for investment may not be lower than 82% of total gross proceeds. Expense Support and Conditional Reimbursements Under the expense support and conditional reimbursement agreement we have with each of the CCIF Feeder Funds, we and the CCIF subadvisor are obligated to reimburse the CCIF Feeder Fund 50% of the excess of the cumulative distributions paid to the CCIF Feeder Funds’ shareholders over the available operating funds on a monthly basis. Following any month in which the available operating funds exceed the cumulative distributions paid to its shareholders, the excess operating funds are used to reimburse us and the CCIF subadvisor for any expense payment we made within three years prior to the last business day of such month that have not been previously reimbursed by the CCIF Feeder Fund, up to the lesser of (i) 1.75% of each CCIF Feeder Fund’s average net assets or (ii) the percentage of each CCIF Feeder Fund’s average net assets attributable to its common shares represented by other operating expenses during the fiscal year in which such expense support payment from us and the CCIF’s subadvisor was made, provided that the effective rate of distributions per share at the time of reimbursement is not less than such rate at the time of expense payment. Distributions of Available Cash and Deferred Revenue Earned We are entitled to receive distributions of up to 10% of the Available Cash (as defined in the respective advisory agreements) from the operating partnerships of each of the Managed REITs, as described in their respective operating partnership agreements, payable quarterly in arrears. In May 2011, we acquired a special member interest, or the Special Member Interest, in CPA ® :16 – Global’s operating partnership. We initially recorded this Special Member Interest at its fair value, and amortized it into earnings as deferred revenue through the date of the CPA ® :16 Merger. Cash distributions of our proportionate share of earnings from the Managed REITs’ operating partnerships, as well as deferred revenue earned from our Special Member Interest in CPA ® :16 – Global’s operating partnership, are recorded as Equity in earnings of equity method investments in the Managed Programs and real estate within the Real Estate Ownership segment. Other Transactions with Affiliates Loans to Affiliates During 2015 and 2014, our board of directors approved unsecured loans from us to CPA ® :17 – Global of up to $75.0 million , CPA ® :18 – Global of up to $100.0 million , CWI 1 and CWI 2 of up to $110.0 million in the aggregate, and CCIF of up to $50.0 million , with each loan at a rate equal to the rate at which we are able to borrow funds under our senior credit facility ( Note 11 ), for the purpose of facilitating acquisitions approved by their respective investment committees. During 2015 and 2014, various loans aggregating $185.4 million and $11.0 million , respectively, were made to the Managed Programs, all of which were repaid during the same year. All of the loans were made at an interest rate equal to the London Interbank Offered Rate, or LIBOR, as of the issue date, plus 1.1% . During 2015, we arranged a credit agreement for each of CPA ® :17 – Global, CWI 1, and CCIF, and our board of directors terminated its previous authorizations to provide loans to CPA ® :17 – Global and CWI 1. Share Purchase Agreement In July 2012, we entered into a Share Purchase Agreement with the Estate of Wm. Polk Carey, our Chairman and founder who passed away on January 2, 2012, pursuant to which we agreed to purchase, at the option of the Estate, up to an aggregate amount of $85.0 million of our common stock beneficially owned by the Estate. The Estate had three sale options. We exercised the first two sale options during 2012. On March 28, 2013, we received an irrevocable notice from the Estate of Wm. Polk Carey to exercise its final sale option. On April 4, 2013, we repurchased 616,971 shares of our common stock for $40.0 million from the Estate at a price of $64.83 per share, which was recorded as a reduction to Common stock, Additional paid-in capital, and Distributions in excess of accumulated earnings in our consolidated financial statements. Because the Share Purchase Agreement contained put options that, if exercised, would obligate us to settle the transactions in cash, we accounted for the shares of our common stock owned by the Estate as redeemable securities in accordance with Accounting Standards Codification 480 “ Distinguishing Liabilities from Equity ” and Accounting Series Release No. 268, “ Presentation in Financial Statements of Redeemable Preferred Stocks .” Accounting Series Release No. 268 requires us to reclassify a portion of our permanent equity to redeemable equity in order to reflect the future cash obligations that could arise if the Estate were to exercise the put options requiring us to purchase its shares. During 2013, when we purchased our common stock in connection with the Estate’s exercise of the third and final sale option, we reclassified $40.0 million from Redeemable securities – related party to stockholders’ equity. Share Repurchases In February 2014, we repurchased 11,037 shares of our common stock for $0.7 million in cash from the former independent directors of CPA ® :16 – Global at a price per share equal to the volume weighted-average trading price of our stock utilized in the CPA ® :16 Merger. These shares were issued to them as their portion of the Merger Consideration in exchange for their shares of CPA ® :16 – Global common stock ( Note 3 ) and were repurchased by agreement in order to satisfy the independence requirements set forth in the organizational documents of the remaining CPA ® REITs, for which these individuals also serve as independent directors. Other As discussed in Note 16 , in November 2013, an entity in which we, two of our employees, and a third party owned 38.3% , 1.7% , and 60.0% , respectively, and which we consolidated, sold 19 of its 20 self-storage properties. In connection with the sale, we made distributions aggregating $3.8 million to the two employees, representing their share of the net proceeds from the sale. At December 31, 2015 , we owned interests ranging from 3% to 90% in jointly-owned investments, including a jointly-controlled tenancy-in-common interest in several properties, with the remaining interests generally held by affiliates, and stock of each of the Managed REITs and CCIF. We consolidate certain of these investments and account for the remainder under the equity method of accounting ( Note 7 ).

Net Investments in Properties

Net Investments in Properties	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Net Investments in Properties	Net Investments in Properties Real Estate Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, and real estate under construction, is summarized as follows (in thousands): December 31, 2015 2014 Land $ 1,160,567 $ 1,146,704 Buildings 4,147,644 3,829,981 Real estate under construction 1,714 29,997 Less: Accumulated depreciation (372,735 ) (253,627 ) $ 4,937,190 $ 4,753,055 During 2015 , the U.S. dollar strengthened against the euro, as the end-of-period rate for the U.S. dollar in relation to the euro at December 31, 2015 decreased by 10.4% to $1.0887 from $1.2156 at December 31, 2014 . As a result, the carrying value of our Real estate decreased by $177.3 million from December 31, 2014 to December 31, 2015 . Depreciation expense, including the effect of foreign currency translation, on our real estate and operating real estate for the years ended December 31, 2015 , 2014 , and 2013 was $141.5 million , $117.6 million , and $59.6 million respectively. Acquisitions of Real Estate During 2015 – We entered into the following investments, which were deemed to be business combinations because we assumed the existing leases on the properties, for which the sellers were not the lessees, at a total cost of $561.6 million , including land of $89.5 million , buildings of $382.6 million , and net lease intangibles of $89.5 million ( Note 8 ): • an investment of $345.9 million for 73 auto dealership properties in various locations in the United Kingdom on January 28, 2015; • an investment of $42.4 million for a logistics facility in Rotterdam, the Netherlands on February 11, 2015; • an investment of $23.2 million for a retail facility in Bad Fischau, Austria on April 10, 2015; • an investment of $26.3 million for a logistics facility in Oskarshamn, Sweden on June 17, 2015; • an investment of $41.2 million for three truck and bus service facilities in Gersthofen and Senden, Germany on August 12, 2015 and Leopoldsdorf, Austria on August 24, 2015; • an investment of $51.7 million for six hotel properties in Iowa, Louisiana, Missouri, New Jersey, North Carolina, and Texas on October 15, 2015; and • an investment of $30.9 million for an office building in Irvine, California on December 22, 2015. In connection with these transactions, we also expensed acquisition-related costs totaling $11.1 million , which are included in Merger, property acquisition, and other expenses in the consolidated financial statements. We also entered into the following investments, which were deemed to be real estate asset acquisitions because we acquired the sellers’ properties and simultaneously entered into new leases in connection with the acquisitions, at a total cost of $116.0 million , including land of $8.6 million , buildings of $68.1 million , net lease intangibles of $39.4 million ( Note 8 ), and acquisition-related costs of $3.9 million , which were capitalized: • an investment of $53.5 million for an office building in Sunderland, United Kingdom on August 6, 2015; and • an investment of $62.5 million for ten auto dealership properties in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands on November 11, 2015. Dollar amounts are based on the exchange rates of the foreign currencies on the dates of acquisitions, as applicable. Acquisitions of Real Estate During 2014 – We entered into the following investments, which were deemed to be business combinations because we assumed the existing leases on the properties, for which the sellers were not the lessees, at a total cost of $366.9 million , including land of $33.1 million , buildings of $278.1 million , and net lease intangibles of $55.7 million : • an investment of $41.9 million for an office building in Chandler, Arizona on March 26, 2014; • an investment of $47.2 million for a warehouse facility in University Park, Illinois on May 15, 2014; • an investment of $117.7 million for an office building in Stavanger, Norway on August 6, 2014. Because we acquired stock in a subsidiary of the seller to complete the acquisition, we assumed the tax basis of the entity that we purchased and recorded an estimated deferred tax liability of $14.7 million . In connection with this business combination, we recorded goodwill of $11.1 million ( Note 8 ); • an investment of $46.0 million for an office building in Westborough, Massachusetts on August 22, 2014; • an investment of $56.0 million for an office building in Andover, Massachusetts on October 7, 2014; • an investment of $29.1 million for an office building in Newport, United Kingdom on October 13, 2014; and • an investment of $29.0 million for a light-industrial/distribution center in Opole, Poland on December 12, 2014. In connection with these transactions, we also expensed acquisition-related costs totaling $3.3 million , which are included in Merger, property acquisition, and other expenses in the consolidated financial statements. Dollar amounts are based on the exchange rates of the foreign currencies on the dates of acquisition, as applicable. We also entered into the following investments, which were deemed to be real estate asset acquisitions because we acquired the sellers’ properties and simultaneously entered into new leases in connection with the acquisitions, at a total cost of $536.7 million , including land of $83.9 million , buildings of $366.6 million , net lease intangibles of $82.9 million , a property classified as a net investment in direct financing lease of $3.3 million ( Note 6 ), and acquisition-related costs of $17.8 million , which were capitalized: • an investment of $138.3 million for 10 industrial and 21 agricultural properties in various locations in Australia on October 28, 2014. We also committed to fund a tenant expansion allowance of $14.8 million ; • an investment of $19.8 million for a manufacturing facility in Lewisburg, Ohio on November 4, 2014; and • an investment of $378.5 million for 70 office buildings in various locations in Spain on December 19, 2014. Dollar amounts are based on the exchange rates of the foreign currencies on the dates of acquisitions, as applicable. As discussed in Note 3 , we acquired 225 properties subject to existing operating leases in the CPA ® :16 Merger, which increased the carrying value of our real estate by $2.0 billion during the year ended December 31, 2014. We reclassified properties with an aggregate carrying value of $13.7 million from Net investments in direct financing leases to Real estate during the year ended December 31, 2014, in connection with the extensions of the underlying leases ( Note 6 ). Acquisitions of Real Estate During 2013 – We entered into the following investments, which were deemed to be real estate asset acquisitions because we acquired the sellers’ properties and simultaneously entered into new leases in connection with the acquisitions, at a total cost of $124.4 million , including land of $20.7 million , buildings of $77.2 million , net lease intangibles of $26.5 million , and acquisition-related costs of $1.5 million , which were capitalized: • an investment of $72.4 million for an office building in Northfield, Illinois on January 11, 2013; and • an investment of $52.1 million for an office facility and research and development facility in Tampere, Finland on June 4, 2013. We also entered into the following investments, which were deemed to be business combinations because we assumed the existing leases on the properties, for which the sellers were not the lessees, at a total cost of $157.7 million , including land of $17.2 million , buildings of $99.0 million , and net lease intangibles of $41.5 million : • an investment of $35.3 million for a logistics facility in Venlo, Netherlands on April 15, 2013; • an investment of $25.5 million for an office building in Quincy, Massachusetts on June 7, 2013; • an investment of $63.3 million for an office building in Salford, United Kingdom on September 9, 2013; and • an investment of $33.6 million for an office building in Lone Tree, Colorado on November 27, 2013. We also committed to funding a tenant improvement allowance of $5.2 million . In connection with these business combinations, we also expensed aggregate acquisition-related costs of $4.2 million , which are included in Merger, property acquisition, and other expenses in the consolidated financial statements. Dollar amounts are based on the exchange rate of the euro and the British pound sterling on the dates of acquisition, as applicable. Real Estate Under Construction On December 4, 2013, we entered into a build-to-suit transaction for the construction of an office building located in Mönchengladbach, Germany for a total projected cost of up to $65.0 million , including acquisition expenses, which was based on the exchange rate of the euro on that date. During the years ended December 31, 2015 and 2014, we funded approximately $28.0 million and $20.6 million , respectively. The building was placed in service in September 2015 at a cost totaling $53.2 million and we have no further funding commitment as of December 31, 2015 . Scheduled Future Minimum Rents Scheduled future minimum rents, exclusive of renewals and expenses paid by tenants and future CPI-based adjustments under non-cancelable operating leases, at December 31, 2015 are as follows (in thousands): Years Ending December 31, Total 2016 $ 611,361 2017 600,116 2018 573,110 2019 527,494 2020 484,060 Thereafter 2,887,773 Total $ 5,683,914 Operating Real Estate At December 31, 2015 , Operating real estate consisted of our investments in two hotels and one self-storage property. During the year ended December 31, 2015 , we sold one self-storage property ( Note 16 ). At December 31, 2014 , Operating real estate consisted of our investments in two hotels and two self-storage properties. Below is a summary of our Operating real estate (in thousands): December 31, 2015 2014 Land $ 6,578 $ 7,074 Buildings 76,171 77,811 Less: Accumulated depreciation (8,794 ) (4,866 ) $ 73,955 $ 80,019 Assets Held for Sale Below is a summary of our properties held for sale (in thousands): December 31, 2015 2014 Real estate, net $ 59,046 $ 5,969 Above-market rent intangible assets, net — 838 In-place lease intangible assets, net — 448 Assets held for sale $ 59,046 $ 7,255 At December 31, 2015 , we had two properties classified as Assets held for sale ( Note 16 ). There can be no assurance that the properties will be sold at the contracted prices, or at all. At December 31, 2014 , we had four properties classified as Assets held for sale, all of which were sold during the year ended December 31, 2015 .

Finance Receivables

Finance Receivables	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Finance Receivables	Finance Receivables Assets representing rights to receive money on demand or at fixed or determinable dates are referred to as finance receivables. Our finance receivables portfolio consists of our Net investments in direct financing leases, notes receivable, and deferred acquisition fees. Operating leases are not included in finance receivables as such amounts are not recognized as an asset in the consolidated financial statements. Our notes receivable are included in Other assets, net in the consolidated financial statements. Earnings from our note receivable are included in Lease termination income and other in the consolidated financial statements. Net Investments in Direct Financing Leases Net investments in direct financing leases is summarized as follows (in thousands): December 31, 2015 2014 Minimum lease payments receivable $ 797,736 $ 904,788 Unguaranteed residual value 760,448 818,334 1,558,184 1,723,122 Less: unearned income (801,831 ) (906,896 ) $ 756,353 $ 816,226 2015 — Interest income from direct financing leases, which was included in Lease revenues in the consolidated financial statements, was $74.4 million for the year ended December 31, 2015 . During the year ended December 31, 2015 , the U.S. dollar strengthened against the euro, resulting in a $43.7 million decrease in the carrying value of Net investments in direct financing leases from December 31, 2014 to December 31, 2015 . We also recognized impairment charges totaling $3.3 million on five properties accounted for as Net investments in direct financing leases in connection with an other-than-temporary decline in the estimated fair values of the properties’ residual values ( Note 9 ). At December 31, 2015 , Other assets, net included accounts receivable of $1.2 million related to amounts billed under these direct financing leases. 2014 — Interest income from direct financing leases, which was included in Lease revenues in the consolidated financial statements, was $78.8 million for the year ended December 31, 2014. In connection with the CPA ® :16 Merger in January 2014, we acquired 98 properties subject to direct financing leases with a total fair value of $538.2 million ( Note 3 ), of which one was sold during the year ended December 31, 2014 ( Note 16 ). In connection with our acquisition of an investment in Australia, we acquired one property subject to a direct financing lease for $3.3 million . During the year ended December 31, 2014, we reclassified properties with a carrying value of $13.7 million from Net investments in direct financing leases to Real estate in connection with the extensions of the underlying leases. We also recognized impairment charges totaling $1.3 million on eight properties accounted for as Net investments in direct financing leases in connection with an other-than-temporary decline in the estimated fair values of the properties’ residual values ( Note 9 ). At December 31, 2014 , Other assets, net included accounts receivable of $1.4 million related to amounts billed under these direct financing leases. 2013 — Interest income from direct financing leases, which was included in Lease revenues in the consolidated financial statements, was $37.3 million for the year ended December 31, 2013. We reclassified $14.0 million of properties from Net investments in direct financing leases to Real estate in connection with the restructuring of six leases. Additionally, during 2013 , we sold a net investment in a direct financing lease, which we acquired in the CPA ® :15 Merger, for $5.5 million , net of selling costs, and recognized a loss on the sale of $0.3 million . We also recognized an impairment charge of $0.1 million on a property accounted for as Net investments in direct financing leases in connection with an other-than-temporary decline in the estimated fair value of the property’s residual value. Scheduled Future Minimum Rents Scheduled future minimum rents, exclusive of renewals and expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable direct financing leases at December 31, 2015 are as follows (in thousands): Years Ending December 31, Total 2016 $ 75,613 2017 75,378 2018 75,449 2019 72,929 2020 72,390 Thereafter 425,977 Total $ 797,736 Notes Receivable At December 31, 2015 and 2014 , we had a note receivable with an outstanding balance of $10.7 million and $10.9 million , respectively, representing the expected future payments under a sales type lease, which was included in Other assets, net in the consolidated financial statements. At December 31, 2014, we had a B-note with an outstanding balance of $10.0 million . In February 2015, the B-note was repaid in full to us for $10.0 million . Deferred Acquisition Fees Receivable As described in Note 5 , we earn revenue in connection with structuring and negotiating investments and related mortgage financing for the CPA ® REITs. A portion of this revenue is due in equal annual installments over three years, provided the CPA ® REITs meet their respective performance criteria. Unpaid deferred installments, including accrued interest, from the CPA ® REITs were included in Due from affiliates in the consolidated financial statements. Credit Quality of Finance Receivables We generally seek investments in facilities that we believe are critical to a tenant’s business and that we believe have a low risk of tenant default. During the year ended December 31, 2015 , we established an allowance for credit losses of $8.7 million on a direct financing lease due to a decline in the estimated amount of future payments we will receive from the tenant, including the possible early termination of the direct financing lease, which was recorded in Property expenses, excluding reimbursable tenant costs in the consolidated financial statements. At both December 31, 2015 and 2014 , none of the balances of our finance receivables were past due. Other than the lease extensions noted under Net Investment in Direct Financing Leases above, there were no modifications of finance receivables during the years ended December 31, 2015 or 2014 . We evaluate the credit quality of our finance receivables utilizing an internal five -point credit rating scale, with one representing the highest credit quality and five representing the lowest. The credit quality evaluation of our finance receivables was last updated in the fourth quarter of 2015. We believe the credit quality of our deferred acquisition fees receivable falls under category one , as the CPA ® REITs are expected to have the available cash to make such payments. A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands): Number of Tenants / Obligors at December 31, Carrying Value at December 31, Internal Credit Quality Indicator 2015 2014 2015 2014 1 2 3 $ 90,818 $ 79,343 2 3 4 53,492 37,318 3 23 22 512,724 592,631 4 6 7 110,002 127,782 5 — — — — $ 767,036 $ 837,074

Equity Investments in the Manag

Equity Investments in the Managed Programs and Real Estate	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in the Managed Programs and Real Estate	Equity Investments in the Managed Programs and Real Estate We own interests in certain unconsolidated real estate investments with the Managed Programs and also own interests in the Managed Programs. We account for our interests in these investments under the equity method of accounting (i.e., at cost, increased or decreased by our share of earnings or losses, less distributions, plus contributions and other adjustments required by equity method accounting, such as basis differences). The following table presents Equity in earnings of equity method investments in the Managed Programs and real estate, which represents our proportionate share of the income or losses of these investments, as well as certain adjustments related to other-than-temporary impairment charges and amortization of basis differences related to purchase accounting adjustments (in thousands): Years Ended December 31, 2015 2014 2013 Distributions of Available Cash ( Note 4 ) $ 38,406 $ 31,052 $ 34,121 Amortization of basis differences on equity investments in the Managed Programs (806 ) (810 ) (5,115 ) Proportionate share of (losses) earnings from equity investments in the Managed Programs (454 ) 2,425 7,057 Deferred revenue earned ( Note 4 ) — 786 9,436 Other-than-temporary impairment charges on the Special Member Interest in CPA ® :16 – Global’s operating partnership — (735 ) (15,383 ) Total equity earnings from the Managed Programs 37,146 32,718 30,116 Equity earnings from other equity investments 17,559 14,828 26,928 Amortization of basis differences on other equity investments (3,685 ) (3,430 ) (4,313 ) Equity in earnings of equity method investments in the Managed Programs and real estate $ 51,020 $ 44,116 $ 52,731 Managed Programs We own interests in the Managed Programs and account for these interests under the equity method, because, as their advisor and through our ownership of their common stock, we do not exert control over, but we do have the ability to exercise significant influence on, the Managed Programs. Operating results of the Managed REITs are included in the Real Estate Ownership segment and operating results of CCIF are included in the Investment Management segment. The following table sets forth certain information about our investments in the Managed Programs (dollars in thousands): % of Outstanding Shares Owned at Carrying Amount of Investment at December 31, December 31, Fund 2015 2014 2015 2014 CPA ® :17 – Global 3.087 % 2.676 % $ 87,912 $ 79,429 CPA ® :17 – Global operating partnership 0.009 % 0.009 % — — CPA ® :18 – Global 0.735 % 0.221 % 9,279 2,784 CPA ® :18 – Global operating partnership 0.034 % 0.034 % 209 209 CWI 1 1.131 % 1.088 % 12,619 13,940 CWI 1 operating partnership 0.015 % 0.015 % — — CWI 2 0.379 % — % 949 — CWI 2 operating partnership 0.015 % — % 300 — CCIF 47.882 % 50.000 % 22,214 25,000 $ 133,482 $ 121,362 CPA ® :17 – Global — The c arrying value of our investment in CPA ® :17 – Global at December 31, 2015 includes asset management fees receivable, for which 128,392 shares of CPA ® :17 – Global common stock were issued during the first quarter of 2016. We received distributions from this investment during the years ended December 31, 2015 , 2014 , and 2013 of $5.9 million , $4.6 million , and $3.0 million , respectively. We received distributions from our investment in the CPA ® :17 – Global operating partnership during the years ended December 31, 2015 , 2014 , and 2013 of $24.7 million , $20.4 million , and $16.9 million , respectively. CPA ® :18 – Global — The c arrying value of our investment in CPA ® :18 – Global at December 31, 2015 includes asset management fees receivable, for which 81,338 shares of CPA ® :18 – Global class A common stock were issued during the first quarter of 2016. We received distributions from our investment in the CPA ® :18 – Global operating partnership during the years ended December 31, 2015 , 2014 , and 2013 of $6.3 million , $1.8 million , and $0.1 million , respectively. CWI 1 — We received distributions from our investment in the CWI 1 operating partnership during the years ended December 31, 2015 , 2014 , and 2013 of $7.1 million , $4.1 million , and $1.9 million , respectively. CWI 2 — On May 30, 2014, we purchased 22,222 shares of CWI 2’s class A common stock, par value $0.001 per share, for an aggregate purchase price of $0.2 million . On May 15, 2015, upon CWI 2 reaching its minimum offering proceeds and admitting new stockholders, we began to account for our interest in CWI 2 under the equity method of accounting after consolidating this investment since its inception in June 2014. As of December 31, 2015 , we had not received any distributions from this investment. The carrying value of our investment in CWI 2 at December 31, 2015 includes asset management fees receivable, for which 18,022 shares of class A common stock of CWI 2 were issued during the first quarter of 2016. On March 27, 2015, we purchased a 0.015% special general partnership interest in the CWI 2 operating partnership for $0.3 million . This special general partnership interest entitles us to receive distributions of our proportionate share of earnings up to 10% of the Available Cash from CWI 2’s operating partnership ( Note 4 ). During the year ended December 31, 2015 , we received $0.3 million of distributions from this investment. CCIF — W e received $0.8 million of distributions from our CCIF investment during the year ended December 31, 2015 . CPA ® :16 – Global — During the year ended December 31, 2013, equity income from CPA ® :16 – Global and CPA ® :16 – Global’s operating partnership exceeded 20% of our net income from continuing operations before income taxes. Therefore, the audited consolidated financial statements of CPA ® :16 – Global are incorporated by reference in this Report. At December 31, 2015 and 2014 , the aggregate unamortized basis differences on our equity investments in the Managed Programs were $27.4 million and $20.2 million , respectively. The following tables present estimated combined summarized financial information for the Managed Programs. Amounts provided are expected total amounts attributable to the Managed Programs and do not represent our proportionate share (in thousands): December 31, 2015 2014 Real estate, net $ 6,886,709 $ 5,969,011 Other assets 2,426,189 2,293,065 Total assets 9,312,898 8,262,076 Debt (4,432,082 ) (3,387,795 ) Accounts payable, accrued expenses and other liabilities (612,974 ) (496,857 ) Total liabilities (5,045,056 ) (3,884,652 ) Noncontrolling interests (253,020 ) (170,249 ) Stockholders’ equity $ 4,014,822 $ 4,207,175 Years Ended December 31, 2015 2014 2013 Revenues $ 1,157,432 $ 825,405 $ 796,637 Expenses (1,120,090 ) (816,630 ) (669,554 ) Income from continuing operations $ 37,342 $ 8,775 $ 127,083 Net (loss) income attributable to the Managed Programs (a) (b) $ (6,450 ) $ (12,695 ) $ 104,342 __________ (a) Inclusive of impairment charges recognized by the Managed Programs totaling $1.0 million , $1.3 million , and $25.6 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively. These impairment charges reduced our income earned from these investments by less than $0.1 million , less than $0.1 million , and $4.7 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) Amounts included net gains on sale of real estate recorded by the Managed REITs totaling $8.9 million , $13.3 million , and $7.7 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. These net gains on sale of real estate increased our income earned from these investments by $0.1 million , $0.4 million , and $0.1 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively Interests in Other Unconsolidated Real Estate Investments We own equity interests in single-tenant net-leased properties that are generally leased to companies through noncontrolling interests (i) in partnerships and limited liability companies that we do not control but over which we exercise significant influence or (ii) as tenants-in-common subject to common control. Generally, the underlying investments are jointly-owned with affiliates. We account for these investments under the equity method of accounting. Earnings for each investment are recognized in accordance with each respective investment agreement. Investments in unconsolidated investments are required to be evaluated periodically. We periodically compare an investment’s carrying value to its estimated fair value and recognize an impairment charge to the extent that the carrying value exceeds fair value and such decline is determined to be other than temporary. The following table sets forth our ownership interests in our equity investments in real estate, excluding the Managed Programs, and their respective carrying values (dollars in thousands): Ownership Interest at Carrying Value at December 31, Lessee Co-owner December 31, 2015 2015 2014 Existing Equity Investments (a) Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH CPA ® :17 – Global 33% $ 9,507 $ 6,949 C1000 Logistiek Vastgoed B.V. CPA ® :17 – Global 15% 9,381 11,192 Wanbishi Archives Co. Ltd. CPA ® :17 – Global 3% 335 341 19,223 18,482 Equity Investments Acquired in the CPA ® :16 Merger The New York Times Company CPA ® :17 – Global 45% 70,976 72,476 Frontier Spinning Mills, Inc. CPA ® :17 – Global 40% 24,288 15,609 Actebis Peacock GmbH CPA ® :17 – Global 30% 12,186 6,369 107,450 94,454 Recently Acquired Equity Investment Beach House JV, LLC Third Party N/A 15,318 15,105 $ 141,991 $ 128,041 __________ (a) Represents equity investments we acquired prior to January 1, 2013. Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH — The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. In the second quarter of 2015, we recognized equity income of approximately $2.1 million , representing our share of the bankruptcy proceeds received by the jointly-owned investment. The proceeds were used to repay the mortgage loan encumbering the two properties owned by the jointly-owned investment in the amount of $14.3 million , of which our share was $4.7 million , in the third quarter of 2015. C1000 Logistiek Vastgoed B.V . — The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. This investment represents a tenancy-in-common interest, whereby the property is encumbered by the debt for which we are jointly and severally liable. For this investment, the co-obligor is CPA ® :17 – Global and the amount due under the arrangement was approximately $72.5 million at December 31, 2015 . Of this amount, $10.9 million represents the amount we agreed to pay and is included within the carrying value of the investment at December 31, 2015 . Wanbishi Archives Co. Ltd. — The carrying value of this investment is affected by fluctuations in the exchange rate of the yen. Frontier Spinning Mills, Inc. — We made a contribution of $8.6 million in the second quarter of 2015 to this jointly-owned investment to repay the related non-recourse mortgage loan. Actebis Peacock GmbH — The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. We made a contribution of $6.2 million in the third quarter of 2015 to this jointly-owned investment to repay the related non-recourse mortgage loan. Beach House JV, LLC — In March 2014, we received a preferred equity position in Beach House JV, LLC as part of the sale of the Soho House investment. During the year ended December 31, 2015 , we received $1.1 million of distributions and recognized $1.3 million of income from this investment. The following tables present combined summarized financial information of our equity investments, excluding the Managed Programs. Amounts provided are the total amounts attributable to the investments and do not represent our proportionate share (in thousands): December 31, 2015 2014 Real estate, net $ 464,730 $ 486,858 Other assets 64,989 81,232 Total assets 529,719 568,090 Debt (201,611 ) (278,012 ) Accounts payable, accrued expenses and other liabilities (9,394 ) (10,057 ) Total liabilities (211,005 ) (288,069 ) Noncontrolling interests (355 ) (355 ) Stockholders’ equity $ 318,359 $ 279,666 Years Ended December 31, 2015 2014 2013 Revenues $ 61,887 $ 64,294 $ 117,278 Expenses (21,124 ) (27,801 ) (50,907 ) Income from continuing operations $ 40,763 $ 36,493 $ 66,371 Net income attributable to the jointly-owned investments $ 40,763 $ 36,493 $ 15,762 We received aggregate distributions of $13.3 million , $12.5 million , and $25.9 million from our other unconsolidated real estate investments for the years ended December 31, 2015 , 2014 , and 2013 , respectively. At December 31, 2015 and 2014 , the aggregate unamortized basis differences on our unconsolidated real estate investments were $5.7 million and $5.8 million , respectively. Hellweg 2 Restructuring In 2007, CPA ® :14, CPA ® :15, and CPA ® :16 – Global, acquired a 33% , 40% , and 27% interest, respectively, in an entity, or Purchaser, for purposes of acquiring a 25% interest in a property holding company, or PropCo, that owns 37 do-it-yourself stores located in Germany. This is referred to as the Hellweg 2 transaction. The remaining 75% interest in PropCo was owned by a third party, or the Partner. In November 2010, CPA ® :14, CPA ® :15, and CPA ® :16 – Global obtained a 70% additional interest in PropCo from the Partner, resulting in Purchaser owning approximately 95% of PropCo. In 2011, CPA ® :17 – Global acquired CPA ® :14’s interests, and in 2012, through the CPA ® :15 Merger, we acquired CPA ® :15’s interests. We had previously accounted for our investment under the equity method of accounting. In January 2014 in connection with the CPA ® :16 Merger, we acquired CPA ® :16 – Global’s interests in the investment. Subsequent to the acquisition, we consolidate this investment. In October 2013, the Partner’s remaining 5% equity interest in PropCo was acquired by CPA ® :17 – Global, which resulted in PropCo recording a German real estate transfer tax of $22.1 million , of which our share was approximately $8.4 million and was reflected within Equity in earnings of equity method investments in the Managed Programs and real estate in our consolidated financial statements for the year ended December 31, 2013. In connection with the CPA ® :16 Merger, we acquired CPA ® :16 – Global’s controlling interest in the Hellweg 2 investment. During the fourth quarter of 2015, the German tax authority revoked its previous position on the application of a ruling in a Federal German tax court. Based on this change in position, the obligation to pay the German real estate transfer taxes recorded in connection with the Hellweg 2 restructuring, as well as those recorded in connection with the CPA ® :15 Merger, were no longer deemed probable of occurring. As a result, we reversed liabilities totaling $25.0 million , including $17.1 million recorded in connection with the Hellweg 2 restructuring and $7.9 million recorded in connection with the CPA ® :15 Merger, which is reflected in Merger, property acquisition, and other expenses in the consolidated financial statements for the year ended December 31, 2015. Disposition of Unconsolidated Real Estate Investments During 2013 In June 2013, we contributed $2.9 million to partially repay the existing $17.1 million mortgage loan on our U.S. Airways investment. We refinanced the remaining mortgage loan with new financing of $13.9 million . Immediately after the refinancing, we sold our interest in the investment to a third party for $28.4 million , net of closing costs and our contribution to partially repay the loan, and recognized a gain on sale of $19.5 million . The gain was included in Equity in earnings of equity method investments in the Managed Programs and real estate in the consolidated financial statements. In October 2013, an entity in which we and CPA ® :16 – Global held 30% and 70% interests, respectively, sold the five properties it owned for $41.4 million and recognized a net gain on sale of $0.5 million , of which our share was $0.2 million . The gain was included in Equity in earnings of equity method investments in the Managed Programs and real estate in the consolidated financial statements. The entity used a portion of the proceeds to repay the related mortgage loan, which had a carrying value of $25.7 million on the date of sale. Amounts presented are total amounts attributable to the whole entity and do not represent our proportionate share. In connection with the sale, the entity made a distribution of $4.2 million to us, representing our share of the net proceeds from the sale.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Liabilities Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles In connection with our acquisitions of properties, we have recorded net lease intangibles that are being amortized over periods ranging from one year to 43 years . In addition, we have several ground lease intangibles that are being amortized over periods of up to 99 years . In-place lease and tenant relationship intangibles are included in In-place lease and tenant relationship intangible assets, net in the consolidated financial statements. Above-market rent intangibles are included in Above-market rent intangible assets, net in the consolidated financial statements. Below-market ground lease (as lessee), trade name, management contracts, and software license intangibles are included in Other assets, net in the consolidated financial statements. Below-market rent, above-market ground lease (as lessee), and below-market purchase option intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements. In connection with our investment activity during 2015 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 13.4 $ 92,012 Above-market rent 15.3 32,739 Below-market ground lease 63.1 9,997 Indefinite-Lived Intangible Asset Below-market ground lease N/A 881 $ 135,629 Amortizable Intangible Liabilities Below-market rent 14.6 $ (6,798 ) In connection with the CPA ® :16 Merger and the CPA ® :15 Merger, we recorded goodwill as a result of the merger considerations exceeding the fair values of the assets acquired and liabilities assumed ( Note 3 ). The goodwill was attributed to our Real Estate Ownership reporting unit as it relates to the real estate assets we acquired in the CPA ® :16 Merger and CPA ® :15 Merger. The following table presents a reconciliation of our goodwill (in thousands): Real Estate Ownership Investment Management Total Balance at January 1, 2013 $ 265,525 $ 63,607 $ 329,132 Adjustments related to deferred foreign income taxes (a) 32,715 — 32,715 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (13,118 ) — (13,118 ) Adjustment to purchase price allocation for the CPA ® :15 Merger (b) 1,479 — 1,479 Balance at December 31, 2013 286,601 63,607 350,208 Acquisition of CPA ® :16 – Global 346,642 — 346,642 Foreign currency translation adjustments and other (14,258 ) — (14,258 ) Other business combinations (c) 13,585 — 13,585 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (3,762 ) — (3,762 ) Balance at December 31, 2014 628,808 63,607 692,415 Foreign currency translation adjustments and other (10,548 ) — (10,548 ) Allocation of goodwill to the cost basis of properties sold or classified as held for sale (1,762 ) — (1,762 ) Other business combinations 1,704 — 1,704 Balance at December 31, 2015 $ 618,202 $ 63,607 $ 681,809 ___________ (a) In 2013, we identified an error in the consolidated financial statements related to accounting for deferred foreign income taxes. W e concluded that this adjustment was not material to our financial position or results of operations for 2013 or any of the prior periods. As such, in the fourth quarter of 2013 we recorded an out-of-period adjustment related to the error, which included an adjustment to goodwill. (b) In the fourth quarter of 2013, we recorded an immaterial out-of-period adjustment to correct the purchase price allocation for the CPA ® :15 Merger. (c) Primarily relates to acquisition of an investment in Norway ( Note 5 ). Current accounting guidance requires that we test for the recoverability of goodwill at the reporting unit level. The test for recoverability must be conducted at least annually, or more frequently if events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. We performed our annual test for impairment during the fourth quarter of 2015 for goodwill recorded in both segments, and no impairment was indicated. Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands): December 31, 2015 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets Management contracts $ 32,765 $ (32,765 ) $ — $ 32,765 $ (32,765 ) $ — Internal-use software development costs 18,188 (2,038 ) 16,150 17,584 (26 ) 17,558 50,953 (34,803 ) 16,150 50,349 (32,791 ) 17,558 Lease Intangibles: In-place lease and tenant relationship 1,205,585 (302,737 ) 902,848 1,185,692 (191,873 ) 993,819 Above-market rent 649,035 (173,963 ) 475,072 639,370 (116,573 ) 522,797 Below-market ground lease 25,403 (889 ) 24,514 17,771 (435 ) 17,336 1,880,023 (477,589 ) 1,402,434 1,842,833 (308,881 ) 1,533,952 Unamortizable Goodwill and Indefinite-Lived Intangible Assets Goodwill 681,809 — 681,809 692,415 — 692,415 Trade name 3,975 — 3,975 3,975 — 3,975 Below-market ground lease 895 — 895 — — — 686,679 — 686,679 696,390 — 696,390 Total intangible assets $ 2,617,655 $ (512,392 ) $ 2,105,263 $ 2,589,572 $ (341,672 ) $ 2,247,900 Amortizable Intangible Liabilities Below-market rent $ (171,199 ) $ 44,873 $ (126,326 ) $ (169,231 ) $ 23,039 $ (146,192 ) Above-market ground lease (13,052 ) 1,774 (11,278 ) (13,311 ) 1,144 (12,167 ) (184,251 ) 46,647 (137,604 ) (182,542 ) 24,183 (158,359 ) Unamortizable Intangible Liabilities Below-market purchase option (16,711 ) — (16,711 ) (16,711 ) — (16,711 ) Total intangible liabilities $ (200,962 ) $ 46,647 $ (154,315 ) $ (199,253 ) $ 24,183 $ (175,070 ) Net amortization of intangibles, including the effect of foreign currency translation, was $180.8 million , $174.0 million , and $86.1 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Lease revenues; amortization of management contracts, in-place lease and tenant relationship intangibles is included in Depreciation and amortization; and amortization of above-market ground lease and below-market ground lease intangibles is included in Property expenses. Based on the intangible assets and liabilities recorded at December 31, 2015 , scheduled annual net amortization of intangibles for each of the next five calendar years and thereafter is as follows (in thousands): Years Ending December 31, Net Decrease in Lease Revenues Increase to Amortization/ Property Expenses Total 2016 $ 36,464 $ 125,954 $ 162,418 2017 51,494 103,062 154,556 2018 48,639 99,392 148,031 2019 44,715 90,574 135,289 2020 37,053 82,126 119,179 Thereafter 130,381 431,126 561,507 Total $ 348,746 $ 932,234 $ 1,280,980

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, and foreign currency forward contracts; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions. Items Measured at Fair Value on a Recurring Basis The methods and assumptions described below were used to estimate the fair value of each class of financial instrument. For significant Level 3 items, we have also provided the unobservable inputs along with their weighted-average ranges. Money Market Funds — Our money market funds, which are included in Cash and cash equivalents in the consolidated financial statements, are comprised of government securities and U.S. Treasury bills. These funds were classified as Level 1 as we used quoted prices from active markets to determine their fair values. Derivative Assets — Our derivative assets, which are included in Other assets, net in the consolidated financial statements, are comprised of an interest rate cap, interest rate swaps, stock warrants, foreign currency forward contracts, and foreign currency collars ( Note 10 ). The interest rate cap, interest rate swaps, foreign currency forward contracts, and foreign currency forward collars were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. The stock warrants were measured at fair value using internal valuation models that incorporate market inputs and our own assumptions about future cash flows. We classified these assets as Level 3 because these assets are not traded in an active market. Derivative Liabilities — Our derivative liabilities, which are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements, are comprised of interest rate swaps ( Note 10 ). These derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 because they are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. Redeemable Noncontrolling Interest — We account for the noncontrolling interest in W. P. Carey International, LLC, or WPCI, held by a third party as a redeemable noncontrolling interest ( Note 14 ). We determined the valuation of redeemable noncontrolling interest using widely accepted valuation techniques, including comparable transaction analysis, comparable public company analysis, and discounted cash flow analysis. We classified this liability as Level 3. At December 31, 2015 , unobservable inputs for determining the estimated fair value of WPCI included, but were not limited to, a discount for lack of marketability, a discount rate, revenue, EBITDA (including normalized and run-rate EBITDA), and termination multiples with weighted-average ranges, across all valuation techniques utilized, as applicable, of 10% - 20% , 14% - 16% , 1.1 x - 8.8 x, 3.2 x - 18.8 x, and 5.5 x - 7.5 x, respectively. Significant increases or decreases in any one of these inputs in isolation would result in significant changes in the fair value measurement. We did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during either the years ended December 31, 2015 or 2014 . Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): December 31, 2015 December 31, 2014 Level Carrying Value Fair Value Carrying Value Fair Value Non-recourse debt, net (a) 3 $ 2,271,204 $ 2,293,542 $ 2,532,683 $ 2,574,437 Senior Unsecured Notes, net (b) 2 1,486,568 1,459,544 498,345 527,029 Senior Unsecured Credit Facility (c) 2 735,021 735,022 1,057,518 1,057,519 Deferred acquisition fees receivable (d) 3 33,386 32,919 26,913 28,027 Notes receivable (a) 3 10,689 10,610 20,848 19,604 __________ (a) We determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, where applicable, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity and the current market interest rate. (b) We determined the estimated fair value of the Senior Unsecured Notes ( Note 11 ) using quoted market prices in an open market with limited trading volume where available. In cases where there was no trading volume, we determined the estimated fair value using a discounted cash flow model using a rate that reflects the average yield of similar market participants. (c) We determined the estimated fair value of our Senior Unsecured Credit Facility ( Note 11 ) using a discounted cash flow model with rates that take into account the market-based credit spread and our credit rating. (d) We determined the estimated fair value of our deferred acquisition fees receivable based on an estimate of discounted cash flows using two significant unobservable inputs, which are the leverage adjusted unsecured spread of 203 - 213 basis points and an illiquidity adjustment of 75 basis points at December 31, 2015 . Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. We estimated that our other financial assets and liabilities (excluding net investments in direct financing leases) had fair values that approximated their carrying values at both December 31, 2015 and 2014 . Items Measured at Fair Value on a Non-Recurring Basis (Including Impairment Charges) We periodically assess whether there are any indicators that the value of our real estate investments may be impaired or that their carrying value may not be recoverable. For investments in real estate held for use for which an impairment indicator is identified, we follow a two-step process to determine whether the investment is impaired and to determine the amount of the charge. First, we compare the carrying value of the property’s asset group to the future undiscounted net cash flows that we expect the property’s asset group will generate, including any estimated proceeds from the eventual sale of the property’s asset group. If this amount is less than the carrying value, the property’s asset group is considered to be not recoverable. We then measure the impairment charge as the excess of the carrying value of the property’s asset group over the estimated fair value of the property’s asset group, which is primarily determined using market information such as recent comparable sales, broker quotes or third-party appraisals. If relevant market information is not available or is not deemed appropriate, we perform a future net cash flow analysis, discounted for inherent risk associated with each investment. We determined that the significant inputs used to value these investments fall within Level 3 for fair value reporting. As a result of our assessments, we calculated impairment charges based on market conditions and assumptions that existed at the time. The valuation of real estate is subject to significant judgment and actual results may differ materially if market conditions or the underlying assumptions change. The following table presents information about our other assets that were measured at fair value on a non-recurring basis (in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Fair Value Total Impairment Impairment Charges in Continuing Operations Real estate $ 63,027 $ 26,597 $ 26,503 $ 21,738 $ 15,495 $ 4,673 Net investments in direct financing leases 65,132 3,309 39,158 1,329 891 68 Equity investments in real estate — — — 735 5,111 19,256 Marketable security — — — — 483 553 29,906 23,802 24,550 Impairment Charges in Discontinued Operations Real estate — — — — 19,413 6,192 Operating real estate — — — — 3,709 1,071 — — 7,263 $ 29,906 $ 23,802 $ 31,813 Impairment charges, and their related triggering events and fair value measurements, recognized during 2015 , 2014 , and 2013 were as follows: Real Estate 2015 — During the year ended December 31, 2015, we recognized impairment charges totaling $26.6 million on seven properties and a parcel of vacant land in order to reduce the carrying values of the properties to their estimated fair values. The fair value measurements for five of the properties and the parcel of vacant land approximated their estimated selling prices, and we recognized impairment charges totaling $10.9 million on these properties. We reduced the estimated holding period for another property due to the expected expiration of its related lease within one year after December 31, 2015 and recognized an impairment charge of $8.7 million on the property. The fair value measurement related to the impairment charge was determined by estimating discounted cash flows using three significant unobservable inputs, which are the cash flow discount rate, the residual discount rate, and the residual capitalization rate equal to 9.25% , 9.75% , and 8.5% , respectively. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. The building located on another property will be demolished in accordance with a plan to redevelop the property, and the fair value of the building was reduced to zero. We recognized an impairment charge of $6.9 million on this property. 2014 — During the year ended December 31, 2014, we recognized impairment charges totaling $7.8 million on 13 properties in order to reduce the carrying values of the properties to their estimated fair values, which approximated their estimated selling prices. Additionally, we recognized an impairment charge of $14.0 million on a property during the year ended December 31, 2014 as result of the tenant vacating the property. The fair value measurements relating to the $14.0 million impairment charge were determined by a direct cap approach and market approach and utilizing the average of these two approaches, as the property has potential utility as both a commercial net lease building (direct cap approach) and a redeveloped residential structure (market approach). The fair value under the market approach was determined by comparing the property to similar properties that have been sold or offered for sale, with adjustments made for differences in date of sale, age, condition, size, location, land/building ratio, local tax policies, and other physical characteristics and circumstances influencing the sale. The fair value under the direct cap approach was determined by estimating future net operating income of the leased up asset utilizing comparable market rents that have been leased or offered for lease, capitalizing the resulting net operating income utilizing a residual capitalization rate of 8.0% , offset by the leasing capital required to secure a tenant and the market vacancy assumptions. Significant increases or decreases to the inputs utilized for the market approach and income approach in isolation would result in a significant change in the fair value measurement. 2013 — During the year ended December 31, 2013, we recognized an impairment charge of $4.7 million on a property in France. This impairment was the result of writing down the property’s carrying value to its estimated fair value in connection with the tenant vacating the property. The fair value measurements related to the impairment charge were determined by estimating discounted cash flows using three significant unobservable inputs, which are the cash flow discount rate, the residual discount rate, and the residual capitalization rate equal to 12.75% , 11.75% , and 10.00% , respectively. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. Net Investments in Direct Financing Leases The fair value measurements related to the impairment charges recognized on our Net investments in direct financing leases during 2015 and 2014 were determined by estimating market rents at the time the leases expire, taking into account the following factors related to the properties and their locations: (i) estimated rent growth in property location; (ii) the quality of the property relative to other properties nearby; and (iii) the number of vacant properties nearby. 2015 — During the year ended December 31, 2015, we recognized impairment charges totaling $3.3 million on five properties accounted for as Net investments in direct financing leases in connection with an other-than-temporary decline in the estimated fair values of the buildings’ residual values. 2014 — During the year ended December 31, 2014, we recognized impairment charges totaling $1.3 million on eight properties accounted for as Net investments in direct financing leases in connection with an other-than-temporary decline in the estimated fair values of the buildings’ residual values. 2013 — During the year ended December 31, 2013, we recognized an impairment charge of $0.1 million on a property accounted for as Net investments in direct financing leases in order to reduce the carrying value of the property to its estimated fair value, which approximated its estimated selling price. Equity Investments in Real Estate During the years ended December 31, 2014 and 2013, we recognized other-than-temporary impairment charges totaling $0.7 million and $15.4 million , respectively, on the Special Member Interest in CPA ® :16 – Global’s operating partnership to reduce its carrying value to its estimated fair value, which had declined. The estimated fair value was computed by estimating discounted cash flows using two significant unobservable inputs, which are the discount rate and the estimated general and administrative costs as a percentage of assets under management with a weighted-average range of 12.75% - 15.75% and 35 - 45 basis points, r espectively. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. The valuation was also dependent upon the estimated date of a liquidity event for CPA ® :16 – Global because cash flows attributable to this investment would cease upon such event. During the year ended December 31, 2013, we recognized an other-than-temporary impairment charge of $3.9 million on a jointly-owned investment to reduce the carrying value of our investment to its estimated fair value, which was based on the contracted selling price of the properties held by the jointly-owned investment. The properties were sold in October 2013. Properties Included in Discontinued Operations During the year ended December 31, 2013, we recognized impairment charges on properties sold that are included in discontinued operations, including a hotel, totaling $7.3 million to reduce the carrying values of the properties to their selling prices. These impairment charges, which are included in discontinued operations, were the result of reducing these properties’ carrying values to their estimated fair values ( Note 16 ), which approximated their estimated selling prices, in connection with anticipated sales. The fair value measurement related to these impairment charges, other than the fair value of the hotel, was determined in part by third-party sources, subject to our corroboration for reasonableness. The fair value of the hotel property was obtained using an estimate of discounted cash flows using three significant inputs, which are capitalization rate, cash flow discount rate, and residual discount rate of 9.5% , 7.5% , and 10.0% , respe ctively.

Risk Management and Use of Deri

Risk Management and Use of Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Use of Derivative Financial Instruments	Risk Management and Use of Derivative Financial Instruments Risk Management In the normal course of our ongoing business operations, we encounter economic risk. There are four main components of economic risk that impact us: interest rate risk, credit risk, market risk, and foreign currency risk. We are primarily subject to interest rate risk on our interest-bearing liabilities, including the Senior Unsecured Credit Facility and Senior Unsecured Notes ( Note 11 ), at December 31, 2015 . Credit risk is the risk of default on our operations and our tenants’ inability or unwillingness to make contractually required payments. Market risk includes changes in the value of our properties and related loans, as well as changes in the value of our other securities and the shares we hold in the Managed REITs due to changes in interest rates or other market factors. We own investments in Europe, Asia, and Australia and are subject to risks associated with fluctuating foreign currency exchange rates. Derivative Financial Instruments When we use derivative instruments, it is generally to reduce our exposure to fluctuations in interest rates and foreign currency exchange rate movements. We have not entered into, and do not plan to enter into, financial instruments for trading or speculative purposes. In addition to entering into derivative instruments on our own behalf, we may also be a party to derivative instruments that are embedded in other contracts and we may be granted common stock warrants by lessees when structuring lease transactions, which are considered to be derivative instruments. The primary risks related to our use of derivative instruments include a counterparty to a hedging arrangement defaulting on its obligation and a downgrade in the credit quality of a counterparty to such an extent that our ability to sell or assign our side of the hedging transaction is impaired. While we seek to mitigate these risks by entering into hedging arrangements with large financial institutions that we deem to be creditworthy, it is possible that our hedging transactions, which are intended to limit losses, could adversely affect our earnings. Furthermore, if we terminate a hedging arrangement, we may be obligated to pay certain costs, such as transaction or breakage fees. We have established policies and procedures for risk assessment and the approval, reporting, and monitoring of derivative financial instrument activities. We measure derivative instruments at fair value and record them as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated, and that qualified, as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive (loss) income until the hedged item is recognized in earnings. For a derivative designated, and that qualified, as a net investment hedge, the effective portion of the change in the fair value and/or the net settlement of the derivative is reported in Other comprehensive (loss) income as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive (loss) income into earnings when the hedged investment is either sold or substantially liquidated. The ineffective portion of the change in fair value of any derivative is immediately recognized in earnings. The following table sets forth certain information regarding our derivative instruments (in thousands): Derivatives Designated as Hedging Instruments Balance Sheet Location Asset Derivatives Fair Value at Liability Derivatives Fair Value at December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 Foreign currency forward contracts Other assets, net $ 38,975 $ 16,307 $ — $ — Foreign currency collars Other assets, net 7,718 — — — Interest rate swaps Other assets, net — 285 — — Interest rate cap Other assets, net — 3 — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (4,762 ) (5,660 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 3,618 3,753 — — Interest rate swaps (a) Other assets, net 9 — — — Interest rate swaps (a) Accounts payable, accrued expenses and other liabilities — — (2,612 ) (7,496 ) Total derivatives $ 50,320 $ 20,348 $ (7,374 ) $ (13,156 ) __________ (a) These interest rate swaps do not qualify for hedge accounting; however, they do protect against fluctuations in interest rates related to the underlying variable-rate debt. All derivative transactions with an individual counterparty are governed by a master International Swap and Derivatives Association agreement, which can be considered as a master netting arrangement; however, we report all our derivative instruments on a gross basis on our consolidated financial statements. At both December 31, 2015 and 2014 , no cash collateral had been posted nor received for any of our derivative positions. The following tables present the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of (Loss) Gain Recognized on Derivatives in Other Comprehensive (Loss) Income (Effective Portion) (a) Years Ended December 31, Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Foreign currency forward contracts $ 15,949 $ 23,167 $ (5,211 ) Foreign currency collars 7,769 — — Interest rate swaps (284 ) (2,628 ) 4,720 Interest rate caps 64 290 (15 ) Derivatives in Net Investment Hedging Relationships (b) Foreign currency forward contracts 5,819 2,566 — Total $ 29,317 $ 23,395 $ (506 ) Amount of (Loss) Gain on Derivatives Reclassified from Other Comprehensive (Loss) Income (Effective Portion) (c) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2015 2014 2013 Foreign currency forward contracts Other income and (expenses) $ 7,272 $ (103 ) $ (537 ) Interest rate swaps and caps Interest expense (2,291 ) (2,691 ) (1,745 ) Foreign currency collars Other income and (expenses) 357 — — Total $ 5,338 $ (2,794 ) $ (2,282 ) __________ (a) Excludes net gains of $0.6 million , $0.3 million , and $0.5 million recognized on unconsolidated jointly-owned investments for the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) The effective portion of the change in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of Other comprehensive (loss) income until the underlying investment is sold, at which time we reclassify the gain or loss to earnings. (c) Excludes net gains recognized on unconsolidated jointly-owned investments of $0.4 million and $0.5 million for the years ended December 31, 2014 and 2013 , respectively. There were no such gains or losses recognized for the year ended December 31, 2015 . Amounts reported in Other comprehensive (loss) income related to interest rate swaps will be reclassified to Interest expense as interest payments are made on our variable-rate debt. Amounts reported in Other comprehensive (loss) income related to foreign currency derivative contracts will be reclassified to Other income and (expenses) when the hedged foreign currency contracts are settled. As of December 31, 2015 , we estimate that an additional $1.8 million and $9.3 million will be reclassified as interest expense and other income, respectively, during the next 12 months. Amount of Gain (Loss) on Derivatives Recognized in Income Derivatives Not in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2015 2014 2013 Interest rate swaps Interest expense $ 4,164 $ 3,186 $ 5,249 Foreign currency collars Other income and (expenses) 514 — — Foreign currency forwards Other income and (expenses) (296 ) — — Stock warrants Other income and (expenses) (134 ) 134 440 Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 649 761 (20 ) Foreign currency forward contracts Other income and (expenses) 45 — — Foreign currency collars Other income and (expenses) 23 — — Total $ 4,965 $ 4,081 $ 5,669 __________ (a) Relates to the ineffective portion of the hedging relationship. See below for information on our purposes for entering into derivative instruments and for information on derivative instruments owned by unconsolidated investments, which are excluded from the tables above. Interest Rate Swaps and Cap We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our investment partners may obtain variable-rate, non-recourse mortgage loans and, as a result, we have entered into, and may continue to enter into, interest rate swap agreements or interest rate cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of a loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty’s stream of cash flow over a specific period. The face amount on which the swaps are based is not exchanged. Interest rate caps limit the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements. The interest rate swaps and cap that our consolidated subsidiaries had outstanding at December 31, 2015 are summarized as follows (currency in thousands): Number of Instruments Notional Amount Fair Value of (a) Interest Rate Derivatives Designated as Cash Flow Hedging Instruments Interest rate swaps 13 122,159 USD $ (4,154 ) Interest rate swap 1 6,011 EUR (608 ) Interest rate cap (b) 1 41,372 EUR — Not Designated as Cash Flow Hedging Instruments Interest rate swaps (c) 2 105,110 EUR (2,612 ) Interest rate swap (c) 1 3,127 USD 9 $ (7,365 ) __________ (a) Fair value amounts are based on the exchange rate of the euro at December 31, 2015 , as applicable. (b) The applicable interest rate of the related debt was 0.9% , which was below the strike price of the cap of 3.0% at December 31, 2015 . (c) These interest rate swaps do not qualify for hedge accounting; however, they do protect against fluctuations in interest rates related to the underlying variable-rate debt. Foreign Currency Contracts and Collars We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the British pound sterling, the Australian dollar, and certain other currencies. We manage foreign currency exchange rate movements by generally placing our debt service obligation on an investment in the same currency as the tenant’s rental obligation to us. This reduces our overall exposure to the net cash flow from that investment. However, we are subject to foreign currency exchange rate movements to the extent that there is a difference in the timing and amount of the rental obligation and the debt service. Realized and unrealized gains and losses recognized in earnings related to foreign currency transactions are included in Other income and (expenses) in the consolidated financial statements. In order to hedge certain of our foreign currency cash flow exposures, we enter into foreign currency forward contracts and collars. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. A foreign currency collar consists of a written call option and a purchased put option to sell the foreign currency at a range of predetermined exchange rates. By entering into forward contracts and holding them to maturity, we are locked into a future currency exchange rate for the term of the contract. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options’ strike prices. The following table presents the foreign currency derivative contracts we had outstanding at December 31, 2015 , which were designated as cash flow hedges (currency in thousands): Number of Instruments Notional Fair Value at December 31, 2015 (a) Foreign Currency Derivatives Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 52 127,747 EUR $ 27,754 Foreign currency collars 25 90,100 EUR 4,441 Foreign currency collars 22 48,300 GBP 3,277 Foreign currency forward contracts 16 20,302 AUD 2,258 Foreign currency forward contracts 12 6,420 GBP 578 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 5 84,522 AUD 8,385 $ 46,693 __________ (a) Fair value amounts are based on the applicable exchange rate of the foreign currency at December 31, 2015 . Credit Risk-Related Contingent Features We measure our credit exposure on a counterparty basis as the net positive aggregate estimated fair value of our derivatives, net of any collateral received. No collateral was received as of December 31, 2015 . At December 31, 2015 , our total credit exposure and the maximum exposure to any single counterparty was $44.9 million and $26.3 million , respectively. Some of the agreements we have with our derivative counterparties contain cross-default provisions that could trigger a declaration of default on our derivative obligations if we default, or are capable of being declared in default, on certain of our indebtedness. At December 31, 2015 , we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives in a net liability position was $8.2 million and $14.2 million at December 31, 2015 and 2014 , respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions at December 31, 2015 or 2014 , we could have been required to settle our obligations under these agreements at their aggregate termination value of $8.3 million and $14.5 million , respectively. Net Investment Hedges At December 31, 2015 and December 31, 2014, the amounts borrowed in euro outstanding under our Revolver ( Note 11 ) were €361.0 million and €345.0 million , respectively, and the amounts borrowed in British pounds sterling were none and £40.0 million , respectively. Additionally, we have issued senior notes denominated in euro with a principal amount of €500.0 million ( Note 11 ). These borrowings are designated as, and are effective as, economic hedges of our net investments in foreign entities. Variability in the exchange rates of the foreign currencies with respect to the U.S. dollar impacts our financial results as the financial results of our foreign subsidiaries are translated to U.S. dollars each period, with the effect of changes in the foreign currencies to U.S. dollar exchange rates being recorded in Other comprehensive (loss) income as part of the cumulative foreign currency translation adjustment. As a result, the borrowings in euro and British pounds sterling under our Revolver are recorded at cost in the consolidated financial statements and all changes in the value related to changes in the spot rates will be reported in the same manner as a translation adjustment, which is recorded in Other comprehensive (loss) income as part of the cumulative foreign currency translation adjustment. At December 31, 2015 , we had foreign currency forward contracts that were designated as net investment hedges, as discussed in “Derivative Financial Instruments” above.

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt Senior Unsecured Credit Facility At December 31, 2014, we had a senior credit facility that provided for a $1.0 billion unsecured revolving credit facility, or our Revolver, and a $250.0 million term loan facility, or our Term Loan Facility, which we refer to collectively as the Senior Unsecured Credit Facility. At December 31, 2014, the Senior Unsecured Credit Facility also permitted (i) up to $500.0 million under our Revolver to be borrowed in certain currencies other than the U.S. dollar, (ii) swing line loans of up to $50.0 million under our Revolver, and (iii) the issuance of letters of credit under our Revolver in an aggregate amount not to exceed $50.0 million . The Senior Unsecured Credit Facility is being used for working capital needs, to refinance our existing indebtedness, for new investments, and for other general corporate purposes. The Senior Unsecured Credit Facility also contained an accordion feature, which allowed us to increase the maximum borrowing capacity of our Revolver from $1.0 billion to $1.5 billion . We exercised this accordion feature on January 15, 2015. At that time, we also amended the Senior Unsecured Credit Facility as follows: (i) established a new $500.0 million accordion feature that, if exercised, subject to lender commitments, would increase our maximum borrowing capacity under our Revolver to $2.0 billion and under the Senior Unsecured Credit Facility in the aggregate to $2.25 billion , and (ii) increased the amount under our Revolver that may be borrowed in certain currencies other than the U.S. dollar to the equivalent of $750.0 million from $500.0 million . All other existing terms of the Senior Unsecured Credit Facility remained unchanged. In connection with the exercise of the accordion feature and the amendment of the Senior Unsecured Credit Facility in January 2015, we incurred financing costs totaling $3.1 million , which are included in Other assets, net in the consolidated financial statements, and are being amortized to Interest expense over the remaining terms of the facilities. At December 31, 2015 , our Revolver had unused capacity of $1.0 billion , excluding amounts reserved for outstanding letters of credit. As of December 31, 2015 , our lenders had issued letters of credit totaling $1.6 million on our behalf in connection with certain contractual obligations, which reduce amounts that may be drawn under our Revolver by the same amount. We also incurred a facility fee of 0.20% of the total commitment on our Revolver during the year ended December 31, 2015 . On January 29, 2016, we exercised our option to extend our Term Loan Facility by an additional year to January 31, 2017 ( Note 19 ). We have options to extend the maturity date of the Revolver and Term Loan Facility by another year, subject to the conditions provided in the Second Amended and Restated Credit Agreement. The following table presents a summary of our Senior Unsecured Credit Facility (dollars in millions): Interest Rate at December 31, 2015 (a) Outstanding Balance at December 31, Senior Unsecured Credit Facility Maturity Date 2015 2014 Revolver: Revolver - borrowing in euros LIBOR + 1.10% 1/31/2018 $ 393.0 $ 419.4 Revolver - borrowing in U.S. dollars (b) LIBOR + 1.10%; EURIBOR + 1.10% 1/31/2018 92.0 326.0 Revolver - borrowing in British pounds sterling N/A 1/31/2018 — 62.1 485.0 807.5 Term Loan Facility (c) LIBOR + 1.25% 1/31/2016 250.0 250.0 $ 735.0 $ 1,057.5 __________ (a) Interest rate at December 31, 2015 is based on our credit rating of BBB/Baa2 . (b) EURIBOR means Euro Interbank Offered Rate. (c) Our Term Loan Facility was scheduled to mature on January 31, 2016. However, on January 29, 2016, we exercised our option to extend the maturity of our Term Loan Facility by an additional year to January 31, 2017 ( Note 19 ). Senior Unsecured Notes Since January 1, 2014, we have issued senior unsecured notes in three separate registered public offerings with an aggregate carrying amount of $1.5 billion as of December 31, 2015 , which we refer to collectively as the Senior Unsecured Notes. Interest on the Senior Unsecured Notes is payable in arrears, annually for foreign notes and semi-annually for domestic notes. The Senior Unsecured Notes can be redeemed at par within three months of maturity, or we can call the notes at any time for the principal, accrued interest, and a make-whole amount based upon a rate of the applicable government bond yield plus 30 basis points for the 2.0% Senior Euro Notes and the 4.6% Senior Notes, and 35 basis points for the 4.0% Senior Notes. The following table presents a summary of our Senior Unsecured Notes (currency in millions): Carrying Value at December 31, Senior Unsecured Notes Issue Date Principal Amount Price of Par Value Discount Effective Interest Rate Coupon Rate Maturity Date 2015 2014 4.6% Senior Notes 3/14/2014 $ 500.0 99.639 % $ 1.8 4.645 % 4.6 % 4/1/2024 $ 496.0 $ 498.3 2.0% Senior Euro Notes 1/21/2015 € 500.0 99.220 % $ 4.6 2.107 % 2.0 % 1/20/2023 540.6 — 4.0% Senior Notes 1/26/2015 $ 450.0 99.372 % $ 2.8 4.077 % 4.0 % 2/1/2025 450.0 — $ 1,486.6 $ 498.3 Proceeds from the issuances of these notes were used primarily to partially pay down the amounts then outstanding under our Revolver. In connection with these offerings, we incurred financing costs totaling $7.8 million and $4.2 million during the years ended December 31, 2015 and 2014 , respectively, which are included in Other assets, net in the consolidated financial statements, and are being amortized to Interest expense over the respective terms of the Senior Unsecured Notes. The Senior Unsecured Credit Facility and the Senior Unsecured Notes include customary financial maintenance covenants that require us to maintain certain ratios and benchmarks at the end of each quarter. The Senior Unsecured Credit Facility also contains various customary affirmative and negative covenants applicable to us and our subsidiaries, subject to materiality and other qualifications, baskets, and exceptions as outlined in the Second Amended and Restated Credit Agreement. We are required to ensure that the total Restricted Payments (as defined in the Second Amended and Restated Credit Agreement) in an aggregate amount in any fiscal year does not exceed the greater of (i) 95% of Adjusted Funds from Operations (as defined in the Second Amended and Restated Credit Agreement) and (ii) the amount of Restricted Payments required in order for us to maintain our REIT status. Restricted Payments include quarterly dividends and the total amount of shares repurchased by us, if any, in excess of $100.0 million per year. Obligations under the Senior Unsecured Credit Facility may be declared immediately due and payable upon the occurrence of certain events of default as defined in the Second Amended and Restated Credit Agreement, including failure to pay any principal when due and payable, failure to pay interest within five business days after becoming due, failure to comply with any covenant, representation or condition of any loan document, any change of control, cross-defaults, and certain other events as set forth in the Second Amended and Restated Credit Agreement, with grace periods in some cases. The Second Amended and Restated Credit Agreement stipulates several financial covenants that require us to maintain certain ratios and benchmarks at the end of each quarter as defined in the Second Amended and Restated Credit Agreement. We were in compliance with all of these covenants at December 31, 2015 . Unsecured Term Loan In July 2013, we entered into a credit agreement for an Unsecured Term Loan of up to $300.0 million , which we drew down in full on that date. On January 31, 2014, the Unsecured Term Loan was repaid in full using a portion of the amounts drawn down under the Senior Unsecured Credit Facility on that date. Non-Recourse Debt Non-recourse debt consists of mortgage notes payable, which are collateralized by the assignment of real estate properties with an aggregate carrying value of $3.0 billion and $3.3 billion at December 31, 2015 and 2014 , respectively. At December 31, 2015 , our mortgage notes payable bore interest at fixed annual rates ranging from 2.0% to 8.7% and variable contractual annual rates ranging from 0.9% to 7.6% , with maturity dates ranging from January 2016 to 2038 . Foreign Currency Exchange Rate Impact During the year ended December 31, 2015 , the U.S. dollar strengthened against the euro, resulting in an aggregate decrease of $166.0 million in the aggregate carrying values of our Non-recourse debt, Senior Unsecured Credit Facility, and 2.0% Senior Euro Notes from December 31, 2014 to December 31, 2015 . Scheduled Debt Principal Payments Scheduled debt principal payments during each of the next five calendar years following December 31, 2015 and thereafter are as follows (in thousands): Years Ending December 31, Total (a) 2016 $ 648,344 2017 697,749 2018 750,932 2019 99,753 2020 218,995 Thereafter through 2038 2,080,575 4,496,348 Unamortized discount, net (b) (3,555 ) Total $ 4,492,793 __________ (a) Certain amounts are based on the applicable foreign currency exchange rate at December 31, 2015 . (b) Represents the unamortized discount on the Senior Unsecured Notes of $7.8 million partially offset by unamortized premium of $4.2 million in the aggregate resulting from the assumption of property-level debt in connection with the CPA ® :15 Merger and CPA ® :16 Merger.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies On December 31, 2013, Mr. Ira Gaines and entities affiliated with him commenced a purported class action (Ira Gaines, et al. v. Corporate Property Associates 16 – Global Incorporated, Index. No. 650001/2014, N.Y. Sup. Ct., N.Y. County) against us, WPC REIT Merger Sub Inc., CPA ® :16 – Global, and the directors of CPA ® :16 – Global regarding the CPA ® :16 Merger. On April 11, 2014, we and the other defendants filed a motion to dismiss the complaint, as amended, in its entirety, and on October 15, 2014, the judge granted that motion to dismiss. The plaintiffs filed a Notice of Appeal on November 24, 2014 and had until August 24, 2015 to file that appeal. On August 21, 2015, plaintiffs withdrew with prejudice their Notice of Appeal. As a result, the decision that the trial court rendered in our favor on October 15, 2014 is now final, and the case has been dismissed. Various other claims and lawsuits arising in the normal course of business are pending against us. The results of these proceedings are not expected to have a material adverse effect on our consolidated financial position or results of operations.

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	Equity Common Stock Distributions paid to stockholders consist of ordinary income, capital gains, return of capital or a combination thereof for income tax purposes. The following table presents distributions per share, declared and paid during the years ended December 31, 2015 and 2014 , reported for federal tax purposes and serves as a designation of capital gain distributions, if applicable, pursuant to Internal Revenue Code Section 857(b)(3)(C) and Treasury Regulation § 1.857-6(e): Distributions Paid During the Years Ended December 31, 2015 2014 2013 Ordinary income $ 3.5497 $ 3.6566 $ 3.1701 Return of capital 0.2618 0.0584 0.0099 Total distributions paid $ 3.8115 $ 3.7150 $ 3.1800 During the fourth quarter of 2015 , we declared a quarterly distribution of $0.9646 per share, which was paid on January 15, 2016 to stockholders of record on December 31, 2015 , in the amount of $102.7 million . Earnings Per Share Under current authoritative guidance for determining earnings per share, all nonvested share-based payment awards that contain non-forfeitable rights to distributions are considered to be participating securities and therefore are included in the computation of earnings per share under the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common shares and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Our nonvested RSUs and RSAs contain rights to receive non-forfeitable distribution equivalents or distributions, respectively, and therefore we apply the two-class method of computing earnings per share. The calculation of earnings per share below excludes the income attributable to the nonvested RSUs and RSAs from the numerator and such nonvested shares in the denominator. The following table summarizes basic and diluted earnings (in thousands, except share amounts): Years Ended December 31, 2015 2014 2013 Net income attributable to W. P. Carey $ 172,258 $ 239,826 $ 98,876 Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income (579 ) (1,007 ) (743 ) Net income – basic 171,679 238,819 98,133 Income effect of dilutive securities, net of taxes — (77 ) 187 Net income – diluted $ 171,679 $ 238,742 $ 98,320 Weighted-average shares outstanding – basic 105,675,692 98,764,164 68,691,046 Effect of dilutive securities 831,960 1,063,192 1,016,962 Weighted-average shares outstanding – diluted 106,507,652 99,827,356 69,708,008 Securities totaling 114,919 shares associated with the Redeemable noncontrolling interest were excluded from the earnings per share computation above as their effect would have been anti-dilutive for the year ended December 31, 2013. There were no such anti-dilutive securities for the years ended December 31, 2015 and 2014 . At-The-Market Equity Offering Program On June 3, 2015, we filed a prospectus supplement with the SEC pursuant to which we may offer and sell shares of our common stock, up to an aggregate gross sales price of $400.0 million , through an “at-the-market,” or ATM, offering program with a consortium of banks acting as sales agents. We intend to use the net proceeds from any such ATM offering to reduce indebtedness, which may include amounts outstanding under our Revolver, to fund potential future acquisitions, and for general corporate purposes. Through December 31, 2015 , we had not issued any shares pursuant to this ATM program. Equity Offering In September 2014, we completed a public offering of 4,600,000 shares of our common stock, $0.001 par value per share, at a price of $64.00 per share, or the Equity Offering, which includes the full exercise of the underwriters’ option to purchase an additional 600,000 shares of our common stock. The net proceeds of $282.2 million from the Equity Offering were intended to repay certain indebtedness, including amounts outstanding under our Senior Unsecured Credit Facility, to fund potential future acquisitions and for general corporate purposes. We utilized $225.8 million of the net proceeds from the Equity Offering to pay down a portion of the amount then outstanding under our Revolver. Noncontrolling Interests Redeemable Noncontrolling Interest W e account for the noncontrolling interest in WPCI held by a third party as a redeemable noncontrolling interest, as we have an obligation to redeem the interest at fair value, subject to certain conditions pursuant to a put option held by the third party. This obligation is required to be settled in shares of our common stock. On October 1, 2013, we received a notice from the holder of the noncontrolling interest in WPCI regarding the exercise of the put option, pursuant to which we are required to purchase the third party’s 7.7% interest in WPCI. Pursuant to the terms of the related put agreement, the value of that interest was determined based on a third-party valuation as of October 31, 2013, which is the end of the month that the put option was exercised. We cannot currently determine when the redemption will occur. The following table presents a reconciliation of redeemable noncontrolling interest (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ 6,071 $ 7,436 $ 7,531 Redemption value adjustment 8,873 (306 ) — Net income — (142 ) 353 Distributions — (926 ) (435 ) Change in other comprehensive income — 9 (13 ) Ending balance $ 14,944 $ 6,071 $ 7,436 Transfers to Noncontrolling Interests The following table presents a reconciliation of the effect of transfers in noncontrolling interest (in thousands): Years Ended December 31, 2015 2014 2013 Net income attributable to W. P. Carey $ 172,258 $ 239,826 $ 98,876 Transfers to noncontrolling interest Decrease in W. P. Carey’s additional paid-in capital for purchases of less-than-wholly-owned investments in connection with the CPA ® :16 Merger — (41,374 ) — Net transfers to noncontrolling interest — (41,374 ) — Change from net income attributable to W. P. Carey and transfers to noncontrolling interest $ 172,258 $ 198,452 $ 98,876 Reclassifications Out of Accumulated Other Comprehensive (Loss) Income The following tables present a reconciliation of changes in Accumulated other comprehensive (loss) income by component for the periods presented (in thousands): Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Gains and Losses on Marketable Securities Total Balance at January 1, 2013 $ (7,508 ) $ 2,828 $ 31 $ (4,649 ) Other comprehensive income (loss) before reclassifications (2,793 ) 21,835 — 19,042 Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 1,745 — — 1,745 Other income and (expenses) 537 — — 537 Equity in earnings of equity method investments in the Managed Programs and real estate 531 — — 531 Total 2,813 — — 2,813 Net current period other comprehensive income (loss) 20 21,835 — 21,855 Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest — (1,870 ) — (1,870 ) Balance at December 31, 2013 (7,488 ) 22,793 $ 31 $ 15,336 Other comprehensive income (loss) before reclassifications 17,911 (117,938 ) (10 ) (100,037 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,691 — — 2,691 Other income and (expenses) 103 — — 103 Equity in earnings of equity method investments in the Managed Programs and real estate 380 — — 380 Total 3,174 — — 3,174 Net current period other comprehensive income (loss) 21,085 (117,938 ) (10 ) (96,863 ) Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest — 5,968 — 5,968 Balance at December 31, 2014 13,597 (89,177 ) 21 (75,559 ) Other comprehensive income (loss) before reclassifications 29,391 (125,447 ) 15 (96,041 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,291 — — 2,291 Other income and (expenses) (7,629 ) — — (7,629 ) Total (5,338 ) — — (5,338 ) Net current period other comprehensive (loss) income 24,053 (125,447 ) 15 (101,379 ) Net current period other comprehensive gain attributable to noncontrolling interests — 4,647 — 4,647 Balance at December 31, 2015 $ 37,650 $ (209,977 ) $ 36 $ (172,291 )

Stock-Based Compensation and Ot

Stock-Based Compensation and Other Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation and Other Compensation	Stock-Based and Other Compensation Stock-Based Compensation At December 31, 2015 , we maintained several stock-based compensation plans as described below. The total compensation expense (net of forfeitures) for awards issued under these plans was $21.6 million , $31.1 million , and $37.2 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, all of which are included in Stock-based compensation expense in the consolidated financial statements. The tax benefit recognized by us related to these awards totaled $12.5 million , $17.3 million , and $18.4 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. 2009 Incentive Plan We maintain the W. P. Carey Inc. 2009 Share Incentive Plan, or the 2009 Incentive Plan, which as amended currently authorizes the issuance of up to 5,900,000 shares of our common stock. At December 31, 2015 , there were 2,361,843 shares available for issuance under the 2009 Share Incentive Plan. The 2009 Incentive Plan provides for the grant of (i) stock options, (ii) RSUs, (iii) PSUs, and (iv) dividend equivalent rights. The vesting of grants under both plans is accelerated upon a change in our control and under certain other conditions. In December 2007, the Compensation Committee approved the long-term incentive plan, or LTIP, and terminated further contributions to the Partnership Equity Unit Plan described below. During the years ended December 31, 2015 , 2014 , and 2013 , we awarded RSUs totaling 173,741 , 172,460 , and 171,804 , respectively, and PSUs totaling 75,277 , 89,653 , and 85,900 , respectively, to key employees. PSUs are reflected at 100% of target but may settle at up to three times the target amount shown or less. PSUs awarded during each of the years ended December 31, 2015 , 2014 , and 2013 include 10,000 PSUs awarded for which the undetermined terms and conditions of the grant were finalized in subsequent years. 2009 Non-Employee Directors Incentive Plan We maintain the W. P. Carey, Inc. 2009 Non-Employee Directors’ Incentive Plan, or the 2009 Directors’ Plan, which authorizes the issuance of 325,000 shares of our common stock in the aggregate. In the discretion of our board of directors, the awards may be in the form of RSUs, share options, or RSAs, or any combination of the permitted awards. In July 2013, we issued 13,211 RSAs, with a total value of $0.9 million , to our directors under the 2009 Directors’ Plan in lieu of the RSUs that had been granted in previous years, as permitted under the terms of that plan. In July 2014, we issued 16,159 RSAs with a total value of $1.0 million to our directors. In July 2015, we issued 16,152 RSAs with a total value of $1.0 million to our directors. These RSAs are scheduled to vest one year from the date of grant. At December 31, 2015 , there were 199,553 shares that remained available for issuance under this plan. Employee Share Purchase Plan We sponsor an employee share purchase plan, or ESPP, pursuant to which eligible employees may contribute up to 10% of compensation, subject to certain limits, to purchase our common stock. During the year ended December 31, 2015 , employees were entitled to purchase stock through the ESPP semi-annually at a price equal to 90% of the fair market value at certain plan defined dates. During the years ended December 31, 2014 and 2013 , employees were entitled to purchase stock through the ESPP semi-annually at a price equal to 85% of the fair market value at certain plan defined dates. Compensation expense under this plan for the years ended December 31, 2015 , 2014 , and 2013 was less than $0.1 million , $0.3 million , and $1.2 million , respectively. Partnership Equity Unit Plan During 2003, we adopted a non-qualified deferred compensation plan, called the Partnership Equity Plan, or PEP, under which a portion of any participating officer’s cash compensation in excess of designated amounts was deferred and the officer was awarded Partnership Equity Plan Units, or PEP Units. Each of the PEPs is a deferred compensation plan and is therefore considered to be outside the scope of current accounting guidance for stock-based compensation and subject to liability award accounting. The value of each PEP Unit is adjusted to reflect the underlying appraised value of the designated CPA ® REIT. Additionally, each PEP Unit is entitled to distributions equal to the distribution rate of the CPA ® REIT. All issuances of PEP Units, changes in the fair value of PEP Units and distributions paid are included in our compensation expense. On December 16, 2013, we paid $0.2 million in cash to the remaining holders of the PEP Units issued under the initial PEP, which was equal to the per-share 2012 merger consideration received by CPA ® :15 stockholders or the net asset value per share of CPA ® :16 – Global, as applicable. The plans are carried at fair value each quarter and are subject to changes in the fair value of the PEP units. Further contributions to the second PEP were terminated at December 31, 2007; however, this termination did not affect any awardees’ rights pursuant to awards granted under this plan. In December 2008, participants in the PEPs were required to make an election to either (i) remain in the PEPs, (ii) receive cash for their PEP Units (available to former employees only) or (iii) convert their PEP Units to fully vested RSUs (available to current employees only) to be issued under the 1997 Share Incentive Plan, or as amended, the 1997 Incentive Plan, on June 15, 2009. Substantially all of the PEP participants elected to receive cash or convert their existing PEP Units to RSUs. The PEP participants electing to receive RSUs were required to defer receipt of the underlying shares of our common stock for a minimum of two years. While employed by us, these participants are entitled to receive dividend equivalents equal to the amount of dividends paid on the underlying common stock during the deferral period. At December 31, 2015 and 2014 , we were obligated to issue 40,904 and 41,074 shares, respectively, of our common stock underlying these RSUs, which were recorded within W. P. Carey members’ equity as a Deferred compensation obligation of $1.1 million and $1.1 million , respectively. The remaining PEP liability pertaining to participants who elected to remain in the plans was $0.7 million at both December 31, 2015 and 2014 . Those PEP Units are scheduled to be paid between 2017 and 2019. Restricted and Conditional Awards Nonvested RSAs, RSUs, and PSUs at December 31, 2015 and changes during the years ended December 31, 2015 , 2014 , and 2013 were as follows: RSA and RSU Awards PSU Awards Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Nonvested at January 1, 2013 594,194 $ 37.15 999,513 $ 34.55 Granted 185,015 57.69 86,189 84.33 Vested (a) (233,098 ) 36.76 (324,161 ) 39.48 Forfeited (26,503 ) 43.05 (30,108 ) 50.52 Adjustment (b) — — 489,287 67.22 Nonvested at December 31, 2013 519,608 45.19 1,220,720 28.28 Granted 188,619 61.08 89,653 76.05 Vested (a) (264,724 ) 43.35 (881,388 ) 51.00 Forfeited (1,001 ) 59.45 (78 ) 54.31 Adjustment (b) — — 448,734 55.91 Nonvested at December 31, 2014 442,502 53.03 877,641 32.06 Granted (c) 189,893 69.92 75,277 83.68 Vested (a) (264,628 ) 49.69 (792,465 ) 56.77 Forfeited (10,996 ) 66.46 — — Adjustment (b) — — 179,905 49.70 Nonvested at December 31, 2015 (d) 356,771 $ 64.09 340,358 $ 52.26 __________ (a) The total fair value of shares vested during the years ended December 31, 2015 , 2014 , and 2013 was $58.1 million , $56.4 million , and $21.4 million , respectively. Employees have the option to take immediate delivery of the shares upon vesting or defer receipt to a future date, pursuant to previously-made deferral elections. At December 31, 2015 and 2014 , we had an obligation to issue 1,395,907 and 848,788 shares, respectively, of our common stock underlying such deferred awards, which is recorded within W. P. Carey stockholders’ equity as a Deferred compensation obligation of $55.0 million and $29.6 million , respectively. (b) Vesting and payment of the PSUs is conditioned upon certain company and market performance goals being met during the relevant three-year performance period. The ultimate number of PSUs to be vested will depend on the extent to which the performance goals are met and can range from zero to three times the original awards. As a result, we recorded adjustments to reflect the number of shares expected to be issued when the PSUs vest. (c) The grant date fair values of RSAs and RSUs reflect our stock price on the date of grant. The grant date fair value of PSUs was determined utilizing a Monte Carlo simulation model to generate a range of possible future stock prices for both us and the plan defined peer index over the three-year performance period. To estimate the fair value of PSUs granted during the year ended December 31, 2015 , we used a risk-free interest rate of 1.0% and an expected volatility rate of 20.2% (the plan defined peer index assumes 13.5% ) and assumed a dividend yield of zero . (d) At December 31, 2015 , total unrecognized compensation expense related to these awards was approximately $20.1 million , with an aggregate weighted-average remaining term of 1.7 years . At the end of each reporting period, we evaluate the ultimate number of PSUs we expect to vest based upon the extent to which we have met and expect to meet the performance goals and where appropriate, revise our estimate and associated expense. We do not adjust the associated expense for revision on PSUs expected to vest based on market performance. Upon vesting, the RSUs and PSUs may be converted into shares of our common stock. Both the RSUs and PSUs carry dividend equivalent rights. Dividend equivalent rights on RSUs are paid in cash on a quarterly basis whereas dividend equivalent rights on PSUs accrue during the performance period and may be converted into additional shares of common stock at the conclusion of the performance period to the extent the PSUs vest. Dividend equivalent rights are accounted for as a reduction to retained earnings to the extent that the awards are expected to vest. For awards that are not expected to vest or do not ultimately vest, dividend equivalent rights are accounted for as additional compensation expense. Stock Options Option activity and changes for all periods presented were as follows: Year Ended December 31, 2015 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding – beginning of year 475,765 $ 29.95 Exercised (213,479 ) 28.57 Canceled / Expired (3,499 ) 28.71 Outstanding – end of year 258,787 $ 31.10 1.06 $ 7,220,287 Vested and expected to vest – end of year 258,787 $ 31.10 1.06 $ 7,220,287 Exercisable – end of year 236,112 $ 30.99 0.99 $ 6,613,542 Years Ended December 31, 2014 2013 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Outstanding – beginning of year 619,601 $ 30.30 794,210 $ 30.32 Exercised (140,718 ) 31.41 (169,412 ) 30.43 Canceled / Expired (3,118 ) 32.99 (5,197 ) 29.84 Outstanding – end of year 475,765 $ 29.95 1.75 619,601 $ 30.30 2.59 Exercisable – end of year 421,656 $ 29.75 511,811 $ 30.18 Options granted under the 1997 Incentive Plan generally have a ten -year term and generally vested in four equal annual installments. Options granted under the 1997 Directors’ Plan have a ten -year term and generally vested over three years from the date of grant. We have not issued option awards since 2008. Our options will be fully expired in February 2018 . The total intrinsic value of options exercised during the years ended December 31, 2015 , 2014 , and 2013 was $7.4 million , $4.9 million , and $5.7 million , respectively. The tax benefit recognized by us related to these awards totaled $3.4 million during the year ended December 31, 2015 . At December 31, 2015 , all of our options were fully vested and all related compensation expense has been previously recognized; however certain options had exercise limitations. We have the ability and intent to issue shares upon stock option exercises. Historically, we have issued authorized but unissued common stock to satisfy such exercises. Cash received from stock option exercises and purchases under the ESPP during the years ended December 31, 2015 , 2014 , and 2013 was $0.5 million , $1.9 million , and $2.3 million , respectively. Other Compensation Profit-Sharing Plan We sponsor a qualified profit-sharing plan and trust that generally permits all employees, as defined by the plan, to make pre-tax contributions into the plan. We are under no obligation to contribute to the plan and the amount of any contribution is determined by and at the discretion of our board of directors. Our board of directors can authorize contributions to a maximum of 15% of an eligible participant’s compensation, limited to $26,500 annually per participant. In December 2014, our board of directors determined that the contribution to the plan for 2015 and 2014 would be 10% of an eligible participant’s compensation, up to a maximum of $26,500 for 2015 and $26,000 for 2014. For the years ended December 31, 2015 , 2014 , and 2013 , amounts expensed for contributions to the trust were $4.1 million , $3.5 million , and $4.5 million , respectively, which were included in General and administrative expenses in the accompanying consolidated financial statements. The profit-sharing plan is a deferred compensation plan and is therefore considered to be outside the scope of current accounting guidance for stock-based compensation. Other We have employment contracts with certain senior executives. In connection with entering into these employment contracts, we awarded RSUs totaling 10,500 and 20,250 to the senior executives during the years ended December 31, 2014 and 2013 , respectively. There were no such RSUs issued during the year ended December 31, 2015 . These contracts also provide for severance payments in the event of termination under certain conditions including a change of control ( Note 19 ). During the years ended December 31, 2015 , 2014 , and 2013 , we recognized severance costs totaling approximately $0.8 million , $1.0 million , and $0.7 million , respectively, related to several former employees who did not have employment contracts. Such costs are included in General and administrative expenses in the accompanying consolidated financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Provision The components of our provision for income taxes attributable to continuing operations for the periods presented are as follows (in thousands): Years Ended December 31, 2015 2014 2013 Federal Current $ 10,551 $ 19,545 $ 8,274 Deferred 1,901 (7,609 ) (13,029 ) 12,452 11,936 (4,755 ) State and Local Current 9,075 13,422 4,970 Deferred 1,158 (4,693 ) (3,665 ) 10,233 8,729 1,305 Foreign Current 16,656 6,869 7,144 Deferred (1,720 ) (9,925 ) (2,442 ) 14,936 (3,056 ) 4,702 Total Provision $ 37,621 $ 17,609 $ 1,252 A reconciliation of the provision for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the year ended December 31, 2015 is as follows (in thousands, except percentages): Year Ended December 31, 2015 Income from continuing operations before income taxes, net of amounts attributable to noncontrolling interests $ 209,879 Pre-tax income attributable to pass-through subsidiaries (137,536 ) Pre-tax income attributable to taxable subsidiaries $ 72,343 Federal provision at statutory tax rate (35%) $ 25,244 35.0 % Rate differential (10,589 ) (14.6 )% Change in valuation allowance 9,074 12.5 % Non-deductible expense 6,982 9.6 % State and local taxes, net of federal benefit 6,151 8.4 % Exempt income (5,475 ) (7.6 )% Other 1,053 1.5 % Tax provision — taxable subsidiaries 32,440 44.8 % Non-income taxes 5,181 Total provision $ 37,621 A reconciliation of the provision for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the periods presented is as follows (in thousands, except percentages): Years Ended December 31, 2014 2013 Income from continuing operations before income taxes, net of amounts attributable to noncontrolling interests $ 223,938 $ 85,889 Pre-tax income attributable to pass-through subsidiaries (202,807 ) (96,314 ) Pre-tax income (loss) attributable to taxable subsidiaries $ 21,131 $ (10,425 ) Federal provision at statutory tax rate (35%) $ 7,396 35.0 % $ (3,649 ) (35.0 )% Recognition of taxable income as a result of the CPA ® :16 Merger (a) 4,833 22.9 % — — % State and local taxes, net of federal benefit 2,296 10.9 % (166 ) (1.6 )% Interest 2,111 10.0 % — — % Dividend income from Managed REITs 939 4.4 % — — % Amortization of intangible assets — — % 492 4.7 % Other 893 4.2 % (302 ) (2.9 )% Tax provision — taxable subsidiaries 18,468 87.4 % (3,625 ) (34.8 )% Deferred foreign tax benefit (b) (9,925 ) (2,442 ) Current foreign taxes 6,869 7,144 Other state and local taxes 2,197 175 Total provision $ 17,609 $ 1,252 __________ (a) Represents income tax expense due to a permanent difference from the recognition of deferred revenue as a result of the accelerated vesting of shares previously issued by CPA ® :16 – Global for asset management and performance fees and the payment of deferred acquisition fees in connection with the CPA ® :16 Merger. (b) Represents deferred tax benefit associated with basis differences on certain foreign properties acquired. Deferred Income Taxes Deferred income taxes at December 31, 2015 and 2014 consist of the following (in thousands): At December 31, 2015 2014 Deferred Tax Assets Unearned and deferred compensation $ 35,525 $ 36,955 Net operating loss carryforwards 19,553 16,627 Basis differences — foreign investments 6,975 6,576 Other 3,788 3,272 Total deferred tax assets 65,841 63,430 Valuation allowance (29,746 ) (20,672 ) Net deferred tax assets 36,095 42,758 Deferred Tax Liabilities Basis differences — foreign investments (81,058 ) (95,619 ) Basis differences — equity investees (19,925 ) (19,044 ) Deferred revenue (8,654 ) (8,546 ) Total deferred tax liabilities (109,637 ) (123,209 ) Net Deferred Tax Liability $ (73,542 ) $ (80,451 ) Our deferred tax assets and liabilities are primarily the result of temporary differences related to the following: • Basis differences between tax and U.S. GAAP for certain international real estate investments. For income tax purposes, in certain acquisitions, we assume the seller’s basis, or the carry-over basis, in the acquired assets. The carry-over basis is typically lower than the purchase price, or the U.S. GAAP basis, resulting in a deferred tax liability with an offsetting increase to goodwill or the acquired tangible or intangible assets; • Timing differences generated by differences in the U.S. GAAP basis and the tax basis of assets such as those related to capitalized acquisition costs, straight-line rent, prepaid rents, and intangible assets, as well as unearned and deferred compensation; • Basis differences in equity investments represents fees earned in shares recognized under U.S. GAAP into income and deferred for U.S. taxes based upon a share vesting schedule; and • Tax net operating losses in certain subsidiaries, including those domiciled in foreign jurisdictions, that may be realized in future periods if the respective subsidiary generates sufficient taxable income. During the fourth quarter of 2013, we recorded an out-of-period adjustment to reflect deferred tax assets net of valuation allowances and deferred tax liabilities of $2.3 million and $37.5 million , respectively, associated with basis differences on certain foreign properties acquired in prior periods. In addition, this out-of-period adjustment included the recognition of a deferred tax provision of $2.0 million ( Note 8 ). As of December 31, 2015 and 2014 , our taxable subsidiaries have recorded deferred tax assets of $19.6 million and $16.6 million , respectively, in connection with U.S. federal, state and local, and foreign net operating loss carryforwards. The utilization of net operating losses may be subject to certain limitations under the tax laws of the relevant jurisdiction. If not utilized, our federal and state and local net operating losses will begin to expire in 2034 and our foreign net operating losses began expiring in 2012 . As of December 31, 2015 and 2014 , we recorded a valuation allowance of $29.7 million and $20.7 million , respectively, related to these net operating loss carryforwards and basis difference in U.S. and foreign jurisdictions. Included in Other assets, net in the consolidated balance sheet at December 31, 2015 and 2014 is deferred tax assets of $12.6 million and $13.7 million , respectively. Our taxable subsidiaries recognize tax positions in the financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits (in thousands): Years Ended December 31, 2015 2014 Beginning balance $ 2,055 $ 109 Addition based on tax positions related to the current year 1,510 1,946 Addition based on tax positions related to prior years 1,447 — Decrease due to lapse in statute of limitations (572 ) — Foreign currency translation adjustments (136 ) — Ending balance $ 4,304 $ 2,055 At December 31, 2015 and 2014, we had unrecognized tax benefits as presented in the table above that, if recognized, would have a favorable impact on our effective income tax rate in future periods. We recognize interest and penalties related to uncertain tax positions in income tax expense. At December 31, 2015, we had approximately $0.7 million of accrued interest related to uncertain tax positions. Real Estate Ownership Operations Effective February 15, 2012, we elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code. As a REIT, we are not subject to federal income taxes on our income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, as well as other factors. We believe that we have operated, and we intend to continue to operate, in a manner that allows us to continue to qualify as a REIT. As a REIT, we expect to derive most of our REIT income from our real estate operations under our Real Estate Ownership segment. Investment Management Operations We conduct our investment management services in our Investment Management segment through TRSs. A TRS is a subsidiary of a REIT that is subject to corporate federal, state, local, and foreign taxes, as applicable. Our use of TRSs enables us to engage in certain businesses while complying with the REIT qualification requirements and also allows us to retain income generated by these businesses for reinvestment without the requirement to distribute those earnings. We conduct business in the United States, Europe, and Asia, and as a result, we or one or more of our subsidiaries file income tax returns in the United States federal jurisdiction and various state and certain foreign jurisdictions. Certain of our inter-company transactions that have been eliminated in consolidation for financial accounting purposes are also subject to taxation. Periodically, shares in the Managed REITs that are payable to our TRSs in consideration of services rendered are distributed from TRSs to us. Tax authorities in the relevant jurisdictions may select our tax returns for audit and propose adjustments before the expiration of the statute of limitations. Our tax returns filed for tax years 2009 through 2015 remain open to adjustment in the major tax jurisdictions. The U.S. Federal examination of Carey Asset Management for the year ended December 31, 2011 was finalized through the IRS appeals process, but we are awaiting the final closing agreement.

Property Dispositions and Disco

Property Dispositions and Discontinued Operations	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions and Discontinued Operations	Property Dispositions and Discontinued Operations From time to time, we may decide to sell a property. We have an active capital recycling program, with a goal of extending the average lease term through reinvestment, improving portfolio credit quality through dispositions and acquisitions of assets, increasing the asset criticality factor in our portfolio, and/or executing strategic dispositions of assets. We may make a decision to dispose of a property when it is vacant as a result of tenants vacating space, tenants electing not to renew their leases, tenant insolvency, or lease rejection in the bankruptcy process. In such cases, we assess whether we can obtain the highest value from the property by selling it, as opposed to re-leasing it. We may also sell a property when we receive an unsolicited offer or negotiate a price for an investment that is consistent with our strategy for that investment. When it is appropriate to do so, we classify the property as an asset held for sale on our consolidated balance sheet. For those properties sold or classified as held for sale prior to January 1, 2014, we classify current and prior period results of operations of the property as discontinued operations in accordance with our adoption of ASU 2014-08. All property dispositions are recorded within our Real Estate Ownership segment. Property Dispositions Included in Continuing Operations The results of operations for properties that have been sold or classified as held for sale that did not qualify for discontinued operations are included within continuing operations in the consolidated financial statements and are summarized as follows (in thousands): Years Ended December 31, 2015 2014 2013 Revenues $ 32,416 $ 21,427 $ 15,762 Expenses (19,306 ) (17,707 ) (15,872 ) Gain (loss) on sale of real estate 6,487 1,338 (332 ) Impairment charges (4,071 ) (8,537 ) (4,741 ) (Loss) gain on extinguishment of debt (3,179 ) — 113 (Provision for) benefit from income taxes (227 ) 1,347 465 Income (loss) from continuing operations from properties sold or classified as held for sale, net of income taxes (a) $ 12,120 $ (2,132 ) $ (4,605 ) __________ (a) Amounts for the years ended December 31, 2014 and 2013 included net losses of $0.1 million and $2.7 million , respectively, attributable to noncontrolling interests. 2015 — During the year ended December 31, 2015, we sold 13 properties for total proceeds of $35.7 million , net of selling costs, and we recognized a net gain on these sales of $5.9 million . We recognized impairment charges ( Note 9 ) on these properties totaling $6.0 million , of which $2.7 million and $3.3 million were recognized during 2015 and 2014, respectively, and a gain on extinguishment of debt of $2.1 million in 2015. In addition, during July 2015, a domestic vacant property was foreclosed upon and sold for $1.4 million . We recognized a gain on sale of $0.6 million in connection with that disposition. In connection with those sales that constituted businesses, during the year ended December 31, 2015 we allocated goodwill totaling $1.7 million to the cost basis of the properties for our Real Estate Ownership segment, based on the relative fair value at the time of the sale ( Note 8 ). In the fourth quarter of 2015, we executed a lease amendment with a tenant in a domestic office building. The amendment extended the lease term an additional 15 years to January 31, 2037 and provided a one-time rent payment of $25.0 million , which was paid to us on December 18, 2015. The lease amendment also provided an option to terminate the lease effective February 29, 2016, with additional lease termination fees of $22.2 million to be paid to us on or five days before February 29, 2016 upon exercise of the option. The tenant exercised the option on January 1, 2016. The aggregate of the additional rent payment of $25.0 million and the lease termination fees of $22.2 million are being amortized to lease termination income from the lease amendment date on December 4, 2015 through the end of the lease term on February 29, 2016, resulting in $15.0 million recognized during the year ended December 31, 2015 within Lease termination income and other in the consolidated financial statements. In connection with the lease amendment, we defeased the mortgage loan encumbering the property with a principal balance of $36.5 million , and recognized a loss on extinguishment of debt of $5.3 million , which was included in Other income and (expenses) in the consolidated financial statements. In addition, during the fourth quarter of 2015 we entered into an agreement to sell the property to a third party, and the buyer placed a deposit of $12.7 million for the purchase of the property that is being held in escrow. At December 31, 2015, this property was classified as held for sale ( Note 5 ). In addition, we had an international property classified as held for sale, and it is probable that these two properties will be sold within one year from December 31, 2015 ( Note 5 ). We are actively pursuing the sale of the international property, which management and the lender have approved. There can be no assurance that the properties will be sold at the contracted prices, or at all. At December 31, 2015, the domestic property had a carrying value of $55.2 million , and the international property had a carrying value of $3.9 million , reflecting an impairment charge of $1.4 million ( Note 9 ) recognized during the year ended December 31, 2015. 2014 — During the year ended December 31, 2014, we sold 13 properties for total proceeds of $45.6 million , net of selling costs, and we recognized a net loss on these sales of $5.1 million , excluding impairment charges totaling $1.8 million , of which $1.7 million and $0.1 million were recognized in 2014 and 2013, respectively. These sales included a manufacturing facility for which the contractual minimum sale price of $5.8 million was not met. The third-party purchaser paid $1.4 million , with the difference of $4.4 million being paid by the vacating tenant. We also recorded a receivable of $5.5 million from the tenant representing the present value of the termination fee from the tenant, which will be paid over 5.7 years. The total amount paid and to be paid was recorded as lease termination income, which was partially offset by the $8.4 million loss recognized on the sale of the property. During the year ended December 31, 2014, two domestic properties were foreclosed upon and sold for a total of $8.3 million . The proceeds from the sales were used to repay mortgage loans encumbering these properties. At the time of the sales, the properties had a total carrying value of $8.3 million and the related mortgage loans on the properties had a total outstanding balance of $8.5 million . We recognized a net loss on the sales of $0.1 million , excluding an impairment charge of $3.5 million recognized in 2014. In December 2014, we transferred ownership of a property in France and the related non-recourse mortgage loan to a third-party property manager for net proceeds of €1 . As of the date of transfer, the property had a carrying value of $14.5 million , reflecting the impact of an impairment charge of $4.7 million recognized during 2013, and the related non-recourse mortgage loan had an outstanding balance of $19.4 million . In connection with the transfer, we recognized a net gain on sale of $6.7 million . During the year ended December 31, 2014, we entered into contracts to sell four properties for a total of $10.0 million . In connection with these potential sales, we recognized an impairment charge of $1.3 million during the year ended December 31, 2014 to reduce the carrying values of the properties to their estimated selling prices. At December 31, 2014, these properties were classified as Assets held for sale in the consolidated financial statements ( Note 5 ). We completed the sale of these properties during the year ended December 31, 2015 . In connection with those sales that constituted businesses during the year ended December 31, 2014, we allocated goodwill totaling $2.7 million to the cost basis of the properties, for our Real Estate Ownership segment, based on the relative fair value at the time of the sale ( Note 8 ). 2013 — During the year ended December 31, 2013, we sold an investment in a direct financing lease for $5.5 million , net of selling costs, and recognized a loss on the sale of $0.3 million . The results of operations for this investment are included within continuing operations in the consolidated financial statements for the year ended December 31, 2013. Property Dispositions Included in Discontinued Operations The results of operations for properties that have been classified as held for sale or have been sold prior to January 1, 2014 and the properties that were acquired as held for sale in the CPA ® :16 Merger are reflected in the consolidated financial statements as discontinued operations, net of tax and are summarized as follows (in thousands): Years Ended December 31, 2015 2014 2013 Revenues $ — $ 8,931 $ 28,951 Expenses — (2,039 ) (19,984 ) Loss on extinguishment of debt — (1,244 ) (2,415 ) Gain on sale of real estate — 27,670 40,043 Impairment charges — — (8,415 ) Income from discontinued operations $ — $ 33,318 $ 38,180 2014 — At December 31, 2013, we had nine properties classified as held for sale, all of which were sold during the year ended December 31, 2014. The properties were sold for a total of $116.4 million , net of selling costs, and we recognized a net gain on these sales of $28.0 million , excluding impairment charges totaling $3.1 million previously recognized during 2013. We used a portion of the proceeds to repay a related mortgage loan obligation of $11.4 million and recognized a loss on extinguishment of debt of $0.1 million . In connection with those sales of properties accounted for as businesses for the year ended December 31, 2014, we allocated goodwill totaling $7.0 million to the cost basis of the properties, for our Real Estate Ownership segment based on the relative fair value at the time of the sale. In connection with the CPA ® :16 Merger in January 2014, we acquired ten properties, including five properties held by one jointly-owned investment, that were classified as Assets held for sale with a total fair value of $133.4 million . We sold all of these properties during the six months ended June 30, 2014 for a total of $123.4 million , net of selling costs, including seller financing of $15.0 million , and recognized a net loss on these sales of $0.3 million . We used a portion of the proceeds to repay the related mortgage loan obligations totaling $18.9 million and recognized a loss on extinguishment of debt of $1.2 million . We did not allocate any goodwill to these properties since they qualified as held for sale at the time of acquisition and were not considered to have been integrated into the relevant reporting unit. 2013 — At December 31, 2012, we had seven properties classified as held for sale, all of which were sold during the year ended December 31, 2013. The properties were sold for a total of $22.7 million , net of selling costs, and we recognized a net gain on these sales of $0.6 million , excluding impairment charges totaling $3.9 million previously recognized during 2013. We used a portion of the proceeds to repay the related mortgage loan obligation of $5.7 million and recognized a gain on extinguishment of debt of $0.1 million . Additionally, during the year ended December 31, 2013, an entity in which we, two of our employees ( Note 4 ), and a third party owned 38.3% , 1.7% , and 60.0% respectively, and which we consolidated, sold 19 of its 20 self-storage properties for a total of $112.3 million , net of selling costs, and recognized a net gain on the sale of $39.6 million , inclusive of amounts attributable to noncontrolling interests of $24.4 million . In connection with the sale, we used a portion of the proceeds to repay the aggregate related mortgage loan obligations of $45.1 million and recognized a net loss on extinguishment of debt of $2.5 million , inclusive of amounts attributable to noncontrolling interests of $1.5 million . In connection with the sale, we made a distribution to noncontrolling interest holders of $40.8 million , representing their share of the net proceeds from the sale. During the year ended December 31, 2013, we also sold a hotel for $3.7 million , net of selling costs, and recognized a net loss on the sale of $0.2 million , excluding impairment charges of $1.1 million previously recognized during 2013 . During the year ended December 31, 2013, we entered into contracts to sell nine properties for a total of $117.5 million . In connection with these potential sales, we recognized impairment charges totaling $3.4 million during the year ended December 31, 2013 to reduce the carrying values of the properties to their selling prices. At December 31, 2013, these properties were classified as Assets held for sale in the consolidated financial statements. We completed the sale of these properties in 2014. In connection with those sales of properties accounted for as businesses for the year ended December 31, 2013, we allocated goodwill totaling $13.1 million to the cost basis of the properties, for our Real Estate Ownership segment based on the relative fair value at the time of sale or when contracted for sale ( Note 8 ).

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We evaluate our results from operations by our two major business segments — Real Estate Ownership and Investment Management ( Note 1 ). The following tables present a summary of comparative results and assets for these business segments (in thousands): Years Ended December 31, 2015 2014 2013 Real Estate Ownership Revenues (a) $ 735,448 $ 645,383 $ 315,965 Operating expenses (a) (b) (c) (d) (426,814 ) (404,674 ) (178,962 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense (e) 54,924 135,558 61,151 (Provision for) benefit from income taxes (17,948 ) 916 (4,703 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (10,961 ) (5,573 ) (33,056 ) Net (loss) income attributable to noncontrolling interests of discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 146,810 $ 194,890 $ 80,276 Investment Management Revenues (a) $ 202,935 $ 263,063 $ 173,886 Operating expenses (a) (c) (d) (154,015 ) (232,704 ) (173,744 ) Other income and expenses, excluding interest expense (1,791 ) 275 1,001 (Provision for) benefit from income taxes (19,673 ) (18,525 ) 3,451 Net (income) loss attributable to noncontrolling interests (2,008 ) (812 ) 120 Net loss (income) attributable to redeemable noncontrolling interests — 142 (353 ) Income from continuing operations attributable to W. P. Carey $ 25,448 $ 11,439 $ 4,361 Total Company Revenues (a) $ 938,383 $ 908,446 $ 489,851 Operating expenses (a) (b) (c) (d) (580,829 ) (637,378 ) (352,706 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense (e) 53,133 135,833 62,152 Provision for income taxes (37,621 ) (17,609 ) (1,252 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (12,969 ) (6,385 ) (32,936 ) Net (loss) income attributable to noncontrolling interests of discontinued operations — (179 ) 23,941 Net loss (income) attributable to redeemable noncontrolling interests — 142 (353 ) Income from continuing operations attributable to W. P. Carey $ 172,258 $ 206,329 $ 84,637 Total Long-Lived Assets (f) at December 31, Total Assets at December 31, 2015 2014 2015 2014 Real Estate Ownership $ 6,079,803 $ 5,880,958 $ 8,550,128 $ 8,459,406 Investment Management 22,214 25,000 204,545 189,073 Total Company $ 6,102,017 $ 5,905,958 $ 8,754,673 $ 8,648,479 __________ (a) Included in revenues and operating expenses are reimbursable tenant and affiliate costs totaling $78.7 million , $155.1 million , and $86.9 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) Amount for the year ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes (Note 7) , which is reflected in Merger, property acquisition, and other expenses in the consolidated financial statements. Amount for the years ended December 31, 2014 and 2013 includes expenses incurred of $30.5 million and $5.0 million , respectively, related to the CPA ® :16 Merger. (c) Includes Stock-based compensation expense of $21.6 million , $31.1 million , and $37.2 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, of which $13.8 million , $18.4 million , and $30.0 million , respectively, were included in the Investment Management segment. (d) Includes expenses related to our review of strategic alternatives of $5.7 million for the year ended December 31, 2015 , of which $2.1 million was included in the Investment Management segment. (e) Amount for the year ended December 31, 2014 includes a net Gain on change in control of interests of $105.9 million recognized in connection with the CPA ® :16 Merger ( Note 3 ). (f) Consists of Net investments in real estate and Equity investments in the Managed Programs and real estate . Total long-lived assets for our Investment Management segment consists of our equity investment in CCIF ( Note 7 ). Our portfolio is comprised of domestic and international investments. At December 31, 2015 , our international investments within our Real Estate Ownership segment were comprised of investments in Germany, France, the United Kingdom, Spain, Finland, Poland, the Netherlands, Norway, Austria, Hungary, Sweden, Belgium, Australia, Thailand, Malaysia, Japan, Canada, and Mexico. There are no investments in foreign jurisdictions within our Investment Management segment. Other than Germany, no country or tenant individually comprised more than 10% of our total lease revenues for the years ended December 31, 2015 , 2014 , or 2013 , or more than 10% of total long-lived assets at December 31, 2015 or 2014 . The following tables present the geographic information (in thousands): Years Ended December 31, 2015 2014 2013 Domestic Revenues $ 468,703 $ 426,578 $ 218,758 Operating expenses (296,265 ) (284,362 ) (126,493 ) Interest expense (153,219 ) (117,603 ) (65,970 ) Other income and expenses, excluding interest expense 50,891 146,156 88,593 (Provision for) benefit from income taxes (6,219 ) (3,238 ) 13 Gain (loss) on sale of real estate, net of tax 2,941 (5,119 ) (332 ) Net income attributable to noncontrolling interests (5,358 ) (4,233 ) (34,321 ) Net (loss) income attributable to noncontrolling interests in discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 61,474 $ 158,000 $ 104,189 Germany Revenues $ 65,777 $ 72,978 $ 20,221 Operating benefits (expenses) (a) 818 (40,847 ) (3,011 ) Interest expense (15,432 ) (18,880 ) (5,020 ) Other income and expenses, excluding interest expense 4,175 (10,698 ) (29,284 ) (Provision for) benefit from income taxes (4,357 ) 3,163 (1,693 ) Gain on sale of real estate, net of tax 21 — — Net income attributable to noncontrolling interests (5,537 ) (1,017 ) (3,188 ) Income (loss) from continuing operations attributable to W. P. Carey $ 45,465 $ 4,699 $ (21,975 ) Other International Revenues $ 200,968 $ 145,827 $ 76,986 Operating expenses (131,367 ) (79,465 ) (49,458 ) Interest expense (25,675 ) (41,639 ) (32,738 ) Other income and expenses, excluding interest expense (142 ) 100 1,842 (Provision for) benefit from income taxes (7,372 ) 991 (3,023 ) Gain on sale of real estate, net of tax 3,525 6,700 — Net (income) loss attributable to noncontrolling interests (66 ) (323 ) 4,453 Income (loss) from continuing operations attributable to W. P. Carey $ 39,871 $ 32,191 $ (1,938 ) Total Revenues $ 735,448 $ 645,383 $ 315,965 Operating expenses (426,814 ) (404,674 ) (178,962 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense 54,924 135,558 61,151 (Provision for) benefit from income taxes (17,948 ) 916 (4,703 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (10,961 ) (5,573 ) (33,056 ) Net (loss) income attributable to noncontrolling interests in discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 146,810 $ 194,890 $ 80,276 December 31, 2015 2014 Domestic Long-lived assets (b) $ 3,794,232 $ 3,804,430 Total assets 5,447,818 5,567,383 Germany Long-lived assets (b) $ 581,283 $ 609,739 Total assets 790,890 875,840 Other International Long-lived assets (b) $ 1,704,288 $ 1,466,789 Total assets 2,311,420 2,016,183 Total Long-lived assets (b) $ 6,079,803 $ 5,880,958 Total assets 8,550,128 8,459,406 __________ (a) Amount for the year ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes ( Note 7 ). (b) Consists of Net investments in real estate and Equity investments in the Managed Programs and real estate , excluding our equity investment in CCIF ( Note 7 ).

Selected Quarterly Financial In

Selected Quarterly Financial Information	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Information	Selected Quarterly Financial Data (Unaudited) (dollars in thousands, except per share amounts) Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues (a) $ 220,388 $ 238,079 $ 214,666 $ 265,250 Expenses (a) 140,479 130,382 159,066 150,902 Net income (a) 38,582 66,923 23,578 56,144 Net income attributable to noncontrolling interests (2,466 ) (3,575 ) (1,833 ) (5,095 ) Net income attributable to redeemable noncontrolling interests — — — — Net income attributable to W. P. Carey (a) $ 36,116 $ 63,348 $ 21,745 $ 51,049 Earnings per share attributable to W. P. Carey: Basic $ 0.34 $ 0.60 $ 0.20 $ 0.48 Diluted $ 0.34 $ 0.59 $ 0.20 $ 0.48 Distributions declared per share $ 0.9525 $ 0.9540 $ 0.9550 $ 0.9646 Three Months Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 209,195 $ 253,414 $ 197,006 $ 248,831 Expenses 171,605 161,360 128,174 176,239 Net income (b) 117,318 66,972 28,316 33,463 Net income attributable to noncontrolling interests (1,578 ) (2,344 ) (993 ) (1,470 ) Net (income) loss attributable to redeemable noncontrolling interests (262 ) 111 14 279 Net income attributable to W. P. Carey $ 115,478 $ 64,739 $ 27,337 $ 32,272 Earnings per share attributable to W. P. Carey (c) : Basic $ 1.29 $ 0.64 $ 0.27 $ 0.31 Diluted $ 1.27 $ 0.64 $ 0.27 $ 0.30 Distributions declared per share $ 0.8950 $ 0.9000 $ 0.9400 $ 0.9500 __________ (a) Amount for the three months ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes (Note 7) and $15.0 million of termination income related to a domestic property classified as held for sale ( Note 16 ). (b) Amount for the three months ended March 31, 2014 includes a net Gain on change in control of interests of $105.9 million recognized in connection with the CPA ® :16 Merger ( Note 3 ). (c) For the year ended December 31, 2014, total quarterly basic and diluted earnings per share were $0.09 higher than the corresponding earnings per share as computed on an annual basis, as a result of the change in the shares outstanding for each of the periods, primarily due to the issuance of shares in the CPA ® :16 Merger ( Note 3 ) and the Equity Offering ( Note 13 ).

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Issuance of Stock-Based Compensation Awards During the first quarter of 2016 and through the date of this Report, in connection with our annual LTIP award program ( Note 14 ), we issued 210,249 RSUs and 184,755 PSUs to key employees, which will have a dilutive impact on our future earnings per share calculations. Change in Management On February 10, 2016, we announced that Mark J. DeCesaris, a member of our board of directors, was appointed Chief Executive Officer, effective immediately. Mr. DeCesaris succeeded Trevor P. Bond, who resigned as Chief Executive Officer and as a director to pursue other interests. Mr. DeCesaris has served on our board of directors since 2012 and previously served in various capacities for W. P. Carey from 2005 until 2013, including as our Chief Financial Officer. In connection with his resignation, we and Mr. Bond entered into a letter agreement, dated February 10, 2016. Under the terms of the agreement, subject to certain conditions, Mr. Bond will be entitled to receive the severance benefits provided for in his employment agreement and, subject to satisfaction of applicable performance conditions and proration, vesting of his outstanding unvested performance stock units in accordance with their terms. In addition, previously-granted restricted stock units that were scheduled to vest on February 15, 2016 vested in accordance with their terms. In connection with the separation agreement, we will record approximately $5.1 million of severance-related expense in our consolidated financial statements during the three months ended March 31, 2016 ( Note 14 ). Senior Unsecured Credit Facility On January 29, 2016, we exercised our option to extend our Term Loan Facility ( Note 11 ) by an additional year to January 31, 2017. In connection with the extension, we incurred financing costs of $0.3 million .

Schedule II - Valuation And Qua

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	W. P. CAREY INC. SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Years Ended December 31, 2015 , 2014 , and 2013 (in thousands) Description Balance at Beginning of Year Other Additions Deductions Balance at End of Year Year Ended December 31, 2015 Valuation reserve for deferred tax assets $ 20,672 $ 10,001 $ (927 ) $ 29,746 Year Ended December 31, 2014 Valuation reserve for deferred tax assets $ 18,214 $ 2,458 $ — $ 20,672 Year Ended December 31, 2013 Valuation reserve for deferred tax assets $ 15,133 $ 3,081 $ — $ 18,214

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III- Real Estate and Accumulated Depreciation	W. P. CAREY INC. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized (a) Increase (b) Gross Amount at which (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Description Encumbrances Land Buildings Land Buildings Total Real Estate Under Operating Leases Industrial facilities in Erlanger, KY $ 11,107 $ 1,526 $ 21,427 $ 2,966 $ 141 $ 1,526 $ 24,534 $ 26,060 $ 11,396 1979; 1987 Jan. 1998 40 yrs. Industrial facilities in Thurmont, MD and Farmington, NY — 729 5,903 — — 729 5,903 6,632 663 1964; 1983 Jan. 1998 15 yrs. Retail facility in Montgomery, AL — 855 6,762 277 (6,978 ) 142 774 916 471 1987 Jan. 1998 40 yrs. Warehouse facilities in Anchorage, AK and Commerce, CA — 4,905 11,898 — 12 4,905 11,910 16,815 3,421 1948; 1975 Jan. 1998 40 yrs. Industrial facility in Toledo, OH — 224 2,408 — — 224 2,408 2,632 1,304 1966 Jan. 1998 40 yrs. Industrial facility in Goshen, IN — 239 940 — — 239 940 1,179 274 1973 Jan. 1998 40 yrs. Office facility in Raleigh, NC — 1,638 2,844 187 (2,554 ) 828 1,287 2,115 666 1983 Jan. 1998 20 yrs. Office facility in King of Prussia, PA — 1,219 6,283 1,295 — 1,219 7,578 8,797 3,248 1968 Jan. 1998 40 yrs. Industrial facility in Pinconning, MI — 32 1,692 — — 32 1,692 1,724 761 1948 Jan. 1998 40 yrs. Industrial facilities in San Fernando, CA 6,658 2,052 5,322 — (1,889 ) 1,494 3,991 5,485 1,814 1962; 1979 Jan. 1998 40 yrs. Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas — 9,382 — 238 3,371 9,210 3,781 12,991 668 Various Jan. 1998 15 yrs. Land in Glendora, CA — 1,135 — — 17 1,152 — 1,152 — N/A Jan. 1998 N/A Land in Doraville, GA — 3,288 9,864 1,546 (11,410 ) 3,288 — 3,288 — N/A Jan. 1998 N/A Office facilities in Collierville, TN and warehouse facility in Corpus Christi, TX 48,320 3,490 72,497 — (15,609 ) 288 60,090 60,378 9,853 1989; 1999 Jan. 1998 40 yrs. Land in Irving and Houston, TX — 9,795 — — — 9,795 — 9,795 — N/A Jan. 1998 N/A Industrial facility in Chandler, AZ 9,891 5,035 18,957 7,435 541 5,035 26,933 31,968 11,313 1989 Jan. 1998 40 yrs. Office facility in Bridgeton, MO — 842 4,762 2,523 71 842 7,356 8,198 2,566 1972 Jan. 1998 40 yrs. Retail facilities in Drayton Plains, MI and Citrus Heights, CA — 1,039 4,788 202 193 1,039 5,183 6,222 1,438 1972 Jan. 1998 35 yrs. Warehouse facility in Memphis, TN — 1,882 3,973 255 (3,893 ) 328 1,889 2,217 834 1969 Jan. 1998 15 yrs. Retail facility in Bellevue, WA — 4,125 11,812 393 (123 ) 4,371 11,836 16,207 5,219 1994 Apr. 1998 40 yrs. Office facility in Houston, TX — 3,260 22,574 1,628 (23,754 ) 211 3,497 3,708 2,620 1982 Jun. 1998 40 yrs. Office facility in Rio Rancho, NM 7,313 1,190 9,353 1,742 — 1,467 10,818 12,285 4,550 1999 Jul. 1998 40 yrs. Office facility in Moorestown, NJ — 351 5,981 1,470 43 351 7,494 7,845 3,430 1964 Feb. 1999 40 yrs. Office facility in Norcross, GA 26,951 5,200 25,585 11,822 (28,152 ) 2,646 11,809 14,455 481 1975 Jun. 1999 40 yrs. Office facility in Illkirch, France 7,322 — 18,520 6 1,041 — 19,567 19,567 9,224 2001 Dec. 2001 40 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized (a) Increase (b) Gross Amount at which (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Description Encumbrances Land Buildings Land Buildings Total Industrial facilities in Lenexa, KS and Winston-Salem, NC — 1,860 12,539 2,875 (1,067 ) 1,725 14,482 16,207 4,279 1968; 1980; 1983 Sep. 2002 40 yrs. Office facilities in Playa Vista and Venice, CA 46,741 2,032 10,152 52,817 1 5,889 59,113 65,002 8,184 1991; 1999 Sep. 2004; Sep. 2012 40 yrs. Warehouse facility in Greenfield, IN — 2,807 10,335 223 (8,383 ) 967 4,015 4,982 1,282 1995 Sep. 2004 40 yrs. Warehouse facilities in Birmingham, AL — 1,256 7,704 — — 1,256 7,704 8,960 2,175 1995 Sep. 2004 40 yrs. Industrial facility in Scottsdale, AZ 1,102 586 46 — — 586 46 632 13 1988 Sep. 2004 40 yrs. Retail facility in Hot Springs, AR — 850 2,939 2 (2,614 ) — 1,177 1,177 333 1985 Sep. 2004 40 yrs. Warehouse facilities in Apopka, FL — 362 10,855 783 (155 ) 337 11,508 11,845 3,091 1969 Sep. 2004 40 yrs. Land in San Leandro, CA — 1,532 — — — 1,532 — 1,532 — N/A Dec. 2006 N/A Sports facility in Austin, TX 2,664 1,725 5,168 — — 1,725 5,168 6,893 1,647 1995 Dec. 2006 29 yrs. Retail facility in Wroclaw, Poland 6,544 3,600 10,306 — (4,061 ) 2,722 7,123 9,845 1,430 2007 Dec. 2007 40 yrs. Office facility in Fort Worth, TX 31,870 4,600 37,580 — — 4,600 37,580 42,180 5,558 2003 Feb. 2010 40 yrs. Warehouse facility in Mallorca, Spain — 11,109 12,636 — (2,104 ) 10,106 11,535 21,641 1,606 2008 Jun. 2010 40 yrs. Office facilities in San Diego, CA 32,661 7,247 29,098 1,214 (5,514 ) 4,762 27,283 32,045 5,376 1989 May 2011 40 yrs. Retail facilities in Florence, AL; Snellville, GA; Concord, NC; Rockport, TX; and Virginia Beach, VA 22,000 5,646 12,367 — — 5,646 12,367 18,013 1,085 2005; 2007 Sep. 2012 40 yrs. Hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA 137,717 32,680 198,999 — — 32,680 198,999 231,679 17,801 1989; 1990 Sep. 2012 34 - 37 yrs. Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH 7,597 4,403 20,298 — (3,870 ) 2,589 18,242 20,831 1,442 1968; 1979; 1995 Sep. 2012; Jan. 2014 30 yrs. Land in Irvine, CA 1,625 4,173 — — — 4,173 — 4,173 — N/A Sep. 2012 N/A Industrial facility in Alpharetta, GA 7,197 2,198 6,349 — — 2,198 6,349 8,547 688 1997 Sep. 2012 30 yrs. Office facility in Clinton, NJ 22,947 2,866 34,834 — — 2,866 34,834 37,700 3,776 1987 Sep. 2012 30 yrs. Office facilities in St. Petersburg, FL — 3,280 24,627 — — 3,280 24,627 27,907 2,662 1980; 1996; 1999 Sep. 2012 30 yrs. Movie theater in Baton Rouge, LA 9,524 4,168 5,724 — — 4,168 5,724 9,892 621 2003 Sep. 2012 30 yrs. Office facilities in San Diego, CA — 7,804 16,729 1,656 — 7,804 18,385 26,189 1,969 2002 Sep. 2012 30 yrs. Industrial facilities in Richmond, CA — 895 1,953 — — 895 1,953 2,848 212 1987; 1999 Sep. 2012 30 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Cost Capitalized (a) Increase (b) Gross Amount at which (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Initial Cost to Company Description Encumbrances Land Buildings Land Buildings Total Industrial and warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX 58,262 16,386 84,668 — — 16,386 84,668 101,054 9,103 Various Sep. 2012 30 yrs. Warehouse facilities in Lens, Nimes, Colomiers, Thuit Hebert, Ploufragen, and Cholet, France — 15,779 89,421 — (16,139 ) 13,359 75,702 89,061 8,191 Various Sep. 2012 30 yrs. Industrial facilities in Orlando, FL; Rocky Mount, NC, and Lewisville, TX — 2,163 17,715 — — 2,163 17,715 19,878 1,920 Various Sep. 2012 30 yrs. Industrial facilities in Chattanooga, TN — 558 5,923 — — 558 5,923 6,481 635 1974; 1989 Sep. 2012 30 yrs. Industrial facility in Mooresville, NC 5,077 756 9,775 — — 756 9,775 10,531 1,045 1997 Sep. 2012 30 yrs. Industrial facility in McCalla, AL — 960 14,472 6,350 — 960 20,822 21,782 2,450 2004 Sep. 2012 31 yrs. Office facility in Lower Makefield Township, PA 9,549 1,726 12,781 — — 1,726 12,781 14,507 1,363 2002 Sep. 2012 30 yrs. Industrial facility in Fort Smith, AZ — 1,063 6,159 — — 1,063 6,159 7,222 651 1982 Sep. 2012 30 yrs. Retail facilities in Greenwood, IN and Buffalo, NY 8,755 — 19,990 — — — 19,990 19,990 2,092 2003; 2004 Sep. 2012 30 - 31 yrs. Industrial facilities in Bowling Green, KY and Jackson, TN 6,391 1,492 8,182 — — 1,492 8,182 9,674 863 1989; 1995 Sep. 2012 31 yrs. Learning centers in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA 32,553 14,006 33,683 — (1,961 ) 12,045 33,683 45,728 3,422 1988; 2004 Sep. 2012 31 - 32 yrs. Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA 10,146 6,559 19,078 — — 6,559 19,078 25,637 1,996 Various Sep. 2012 31 yrs. Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY 12,339 6,080 23,424 — — 6,080 23,424 29,504 2,431 1990; 1994; 2000 Sep. 2012 31 yrs. Land in Kahl, Germany — 6,694 — — (1,027 ) 5,667 — 5,667 — N/A Sep. 2012 N/A Sports facilities in Englewood, CO; Memphis TN; and Bedford, TX 7,925 4,877 4,258 — 4,823 4,877 9,081 13,958 993 1990; 1995; 2001 Sep. 2012 31 yrs. Office facilities in Mons, Belgium 7,820 1,505 6,026 653 (1,285 ) 1,274 5,625 6,899 543 1982; 1983 Sep. 2012 32 yrs. Warehouse facilities in Oceanside, CA and Concordville, PA 3,667 3,333 8,270 — — 3,333 8,270 11,603 861 1989; 1996 Sep. 2012 31 yrs. Self-storage facilities located throughout the United States — 74,551 319,186 — (50 ) 74,501 319,186 393,687 32,867 Various Sep. 2012 31 yrs. Warehouse facility in La Vista, NE 21,137 4,196 23,148 — — 4,196 23,148 27,344 2,247 2005 Sep. 2012 33 yrs. Office facility in Pleasanton, CA 10,478 3,675 7,468 — — 3,675 7,468 11,143 767 2000 Sep. 2012 31 yrs. Office facility in San Marcos, TX — 440 688 — — 440 688 1,128 71 2000 Sep. 2012 31 yrs. Office facilities in Espoo, Finland 40,826 40,555 15,662 — (20,107 ) 26,980 9,130 36,110 79 1972 Sep. 2012 31 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Cost Capitalized (a) Increase (b) Gross Amount at which (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Initial Cost to Company Description Encumbrances Land Buildings Land Buildings Total Office facility in Chicago, IL 14,217 2,169 19,010 — — 2,169 19,010 21,179 1,937 1910 Sep. 2012 31 yrs. Industrial facility in Louisville, CO 7,997 5,342 8,786 1,849 — 5,481 10,496 15,977 1,220 1993 Sep. 2012 31 yrs. Industrial facilities in Hollywood and Orlando, FL — 3,639 1,269 — — 3,639 1,269 4,908 129 1996 Sep. 2012 31 yrs. Warehouse facility in Golden, CO — 808 4,304 77 — 808 4,381 5,189 489 1998 Sep. 2012 30 yrs. Industrial facilities in Texarkana, TX and Orem, UT — 1,755 4,493 — — 1,755 4,493 6,248 458 1991; 1997 Sep. 2012 31 yrs. Industrial facility in Eugene, OR 4,460 2,286 3,783 — — 2,286 3,783 6,069 385 1980 Sep. 2012 31 yrs. Industrial facility in Neenah, WI — 438 4,954 64 — 438 5,018 5,456 506 1993 Sep. 2012 31 yrs. Industrial facility in South Jordan, UT 12,246 2,183 11,340 — — 2,183 11,340 13,523 1,156 1995 Sep. 2012 31 yrs. Warehouse facility in Ennis, TX 2,333 478 4,087 145 — 478 4,232 4,710 499 1989 Sep. 2012 31 yrs. Retail facility in Braintree, MA 3,127 2,409 — 6,184 (1,403 ) 1,006 6,184 7,190 380 1994 Sep. 2012 30 yrs. Office facility in Helsinki, Finland 58,756 26,560 20,735 92 (7,256 ) 22,485 17,646 40,131 1,770 1969 Sep. 2012 32 yrs. Office facility in Paris, France 58,508 23,387 43,450 — (10,255 ) 19,799 36,783 56,582 3,653 1975 Sep. 2012 32 yrs. Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland 114,073 26,564 72,866 — (15,255 ) 22,488 61,687 84,175 8,412 Various Sep. 2012 23 - 34 yrs. Office facility in Laupheim, Germany — 2,072 8,339 — (1,598 ) 1,754 7,059 8,813 1,149 1960 Sep. 2012 20 yrs. Industrial facilities in Danbury, CT and Bedford, MA 10,144 3,519 16,329 — — 3,519 16,329 19,848 1,776 1965; 1980 Sep. 2012 29 yrs. Warehouse facilities in Venlo, Netherlands — 10,154 18,590 — (4,678 ) 8,501 15,565 24,066 1,224 Various Apr. 2013 35 yrs. Industrial and office facilities in Tampere, Finland — 2,309 37,153 — (6,506 ) 1,904 31,052 32,956 2,561 2012 Jun. 2013 40 yrs. Office facility in Quincy, MA — 2,316 21,537 — — 2,316 21,537 23,853 1,493 1989 Jun. 2013 40 yrs. Office facility in Salford, United Kingdom — — 30,012 — (1,553 ) — 28,459 28,459 1,704 1997 Sep. 2013 40 yrs. Office facility in Lone Tree, CO — 4,761 28,864 1,377 — 4,761 30,241 35,002 1,738 2001 Nov. 2013 40 yrs. Office facility in Mönchengladbach, Germany 29,449 2,154 6,917 44,205 (1,241 ) 2,091 49,944 52,035 415 2015 Dec. 2013 40 yrs. Sports facility in Houston, TX 3,340 2,430 2,270 — — 2,430 2,270 4,700 194 1995 Jan. 2014 23 yrs. Sports facility in St. Charles, MO — 1,966 1,368 80 — 1,966 1,448 3,414 101 1987 Jan. 2014 27 yrs. Sports facility in Salt Lake City, UT 2,918 856 2,804 — — 856 2,804 3,660 208 1999 Jan. 2014 26 yrs. Land in Scottsdale, AZ 10,599 22,300 — — — 22,300 — 22,300 — N/A Jan. 2014 N/A Industrial facility in Aurora, CO 3,056 737 2,609 — — 737 2,609 3,346 158 1985 Jan. 2014 32 yrs. Office facilities in Sunnyvale, CA 52,922 43,489 73,035 — — 43,489 73,035 116,524 5,626 1993; 1995 Jan. 2014 25 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Description Encumbrances Land Buildings Land Buildings Total Warehouse facility in Burlington, NJ — 3,989 6,213 — — 3,989 6,213 10,202 468 1999 Jan. 2014 26 yrs. Industrial facility in Albuquerque, NM — 2,467 3,476 606 — 2,467 4,082 6,549 270 1993 Jan. 2014 27 yrs. Industrial facilities in Robbinsville, NJ; North Salt Lake, UT; and Radford, VA 1,472 10,601 17,626 — (6,780 ) 7,894 13,553 21,447 991 1981; 1995; 1998 Jan. 2014 26 yrs. Industrial facilities in Murrysville, PA and Wylie, TX — 2,185 12,058 — 1 2,185 12,059 14,244 859 1940; 2001 Jan. 2014 27 - 28 yrs. Industrial facility in Welcome, NC — 980 11,230 — — 980 11,230 12,210 774 1995 Jan. 2014 28 yrs. Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD 26,453 4,005 44,192 — — 4,005 44,192 48,197 3,547 1911; 1967; 1982 Jan. 2014 24 yrs. Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN 20,142 8,451 25,457 — 298 8,451 25,755 34,206 1,716 1978; 1979; 1986 Jan. 2014 17 - 34 yrs. Retail facility in Torrance, CA 24,188 8,412 12,241 1,213 — 8,412 13,454 21,866 982 1973 Jan. 2014 25 yrs. Office facility in Houston, TX 3,503 6,578 424 — — 6,578 424 7,002 13 1978 Jan. 2014 27 yrs. Land in Doncaster, United Kingdom — 4,257 4,248 — (7,767 ) 738 — 738 — N/A Jan. 2014 N/A Warehouse facility in Norwich, CT 11,450 3,885 21,342 — 2 3,885 21,344 25,229 1,446 1960 Jan. 2014 28 yrs. Warehouse facility in Norwich, CT — 1,437 9,669 — — 1,437 9,669 11,106 655 2007 Jan. 2014 28 yrs. Retail facility in Johnstown, PA and warehouse facility in Whitehall, PA — 7,435 9,093 — 17 7,435 9,110 16,545 755 1986; 1992 Jan. 2014 23 yrs. Retail facilities in York, PA 8,860 3,776 10,092 — — 3,776 10,092 13,868 623 1992 Jan. 2014 26 - 34 yrs. Industrial facility in Pittsburgh, PA — 1,151 10,938 — — 1,151 10,938 12,089 845 1991 Jan. 2014 25 yrs. Warehouse facilities in Atlanta, GA and Elkwood, VA — 5,356 4,121 — (2,104 ) 4,284 3,089 7,373 215 1958; 1975 Jan. 2014 28 yrs. Warehouse facility in Harrisburg, NC — 1,753 5,840 — (111 ) 1,642 5,840 7,482 428 2000 Jan. 2014 26 yrs. Learning center in Nashville, TN 5,402 1,098 7,043 816 — 1,098 7,859 8,957 478 1988 Jan. 2014 31 yrs. Warehouse facilities in Boé, Carpiquet, Lagnieu, Le Mans, Lunéville, and Saint-Germain-du-Puy, France and land in Le Mans and Vendin-le-Vieil, France 38,350 62,183 26,928 — (19,517 ) 48,253 21,341 69,594 1,440 Various Jan. 2014 28 yrs. Industrial facility in Chandler, AZ; industrial, office, and warehouse facilities in Englewood, CO; and land in Englewood, CO 5,456 4,306 7,235 — 3 4,306 7,238 11,544 458 Various Jan. 2014 30 yrs. Industrial facility in Cynthiana, KY 2,556 1,274 3,505 176 (107 ) 1,274 3,574 4,848 219 1967 Jan. 2014 31 yrs. Industrial facility in Columbia, SC 10,387 2,843 11,886 — — 2,843 11,886 14,729 1,007 1962 Jan. 2014 23 yrs. Land in Midlothian, VA 1,390 2,824 — — — 2,824 — 2,824 — N/A Jan. 2014 N/A Residential facility in Laramie, WY 16,125 1,966 18,896 — — 1,966 18,896 20,862 2,160 2007 Jan. 2014 33 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Description Encumbrances Land Buildings Land Buildings Total Office facility in Greenville, SC 8,784 562 7,916 — 43 562 7,959 8,521 607 1972 Jan. 2014 25 yrs. Warehouse facilities in Mendota, IL; Toppenish and Yakima, WA; and Plover, WI 9,729 1,444 21,208 — — 1,444 21,208 22,652 1,810 1996 Jan. 2014 23 yrs. Industrial facility in Allen, TX and office facility in Sunnyvale, CA 11,259 9,297 24,086 — — 9,297 24,086 33,383 1,491 1981; 1997 Jan. 2014 31 yrs. Industrial facilities in Hampton, NH 9,641 8,990 7,362 — — 8,990 7,362 16,352 464 1976 Jan. 2014 30 yrs. Industrial facilities located throughout France 20,481 36,306 5,212 — (8,312 ) 29,038 4,168 33,206 349 Various Jan. 2014 23 yrs. Retail facility in Fairfax, VA 5,114 3,402 16,353 — — 3,402 16,353 19,755 1,188 1998 Jan. 2014 26 yrs. Retail facility in Lombard, IL 5,114 5,087 8,578 — — 5,087 8,578 13,665 623 1999 Jan. 2014 26 yrs. Warehouse facility in Plainfield, IN 20,529 1,578 29,415 — — 1,578 29,415 30,993 1,856 1997 Jan. 2014 30 yrs. Retail facility in Kennesaw, GA 4,111 2,849 6,180 — — 2,849 6,180 9,029 449 1999 Jan. 2014 26 yrs. Retail facility in Leawood, KS 9,094 1,487 13,417 — — 1,487 13,417 14,904 975 1997 Jan. 2014 26 yrs. Office facility in Tolland, CT 8,158 1,817 5,709 — 11 1,817 5,720 7,537 399 1968 Jan. 2014 28 yrs. Warehouse facilities in Lincolnton, NC and Mauldin, SC 9,946 1,962 9,247 — — 1,962 9,247 11,209 630 1988; 1996 Jan. 2014 28 yrs. Retail facilities located throughout Germany 272,225 81,109 153,927 — (47,054 ) 64,871 123,111 187,982 8,306 Various Jan. 2014 Various Office facility in Southfield, MI — 1,726 4,856 — — 1,726 4,856 6,582 301 1985 Jan. 2014 31 yrs. Office facility in The Woodlands, TX 20,705 3,204 24,997 — — 3,204 24,997 28,201 1,519 1997 Jan. 2014 32 yrs. Industrial facility in Guelph, Canada 4,472 2,151 1,750 — (760 ) 1,732 1,409 3,141 83 2002 Jan. 2014 34 yrs. Industrial facilities in Shah Alam, Malaysia 5,021 — 10,429 — (2,340 ) — 8,089 8,089 519 1989; 1992 Jan. 2014 30 yrs. Warehouse facilities in Lam Luk Ka and Bang Pa-in, Thailand 10,751 13,054 19,497 — (2,723 ) 11,962 17,866 29,828 1,098 Various Jan. 2014 31 yrs. Warehouse facilities in Valdosta, GA and Johnson City, TN 8,444 1,080 14,998 — — 1,080 14,998 16,078 1,079 1978; 1998 Jan. 2014 27 yrs. Industrial facility in Amherst, NY 8,227 674 7,971 — — 674 7,971 8,645 680 1984 Jan. 2014 23 yrs. Industrial and warehouse facilities in Westfield, MA — 1,922 9,755 — 9 1,922 9,764 11,686 682 1954; 1997 Jan. 2014 28 yrs. Warehouse facilities in Kottka, Finland — — 8,546 — (1,711 ) — 6,835 6,835 599 1999; 2001 Jan. 2014 21 - 23 yrs. Office facility in Bloomington, MN — 2,942 7,155 — — 2,942 7,155 10,097 483 1988 Jan. 2014 28 yrs. Warehouse facility in Gorinchem, Netherlands 3,816 1,143 5,648 — (1,360 ) 914 4,517 5,431 305 1995 Jan. 2014 28 yrs. Retail facility in Cresskill, NJ 6,138 2,366 5,482 — 19 2,366 5,501 7,867 338 1975 Jan. 2014 31 yrs. Retail facility in Livingston, NJ 5,309 2,932 2,001 — 14 2,932 2,015 4,947 142 1966 Jan. 2014 27 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Description Encumbrances Land Buildings Land Buildings Total Retail facility in Maplewood, NJ 1,662 845 647 — 4 845 651 1,496 46 1954 Jan. 2014 27 yrs. Retail facility in Montclair, NJ 4,445 1,905 1,403 — 6 1,905 1,409 3,314 99 1950 Jan. 2014 27 yrs. Retail facility in Morristown, NJ 10,815 3,258 8,352 — 26 3,258 8,378 11,636 590 1973 Jan. 2014 27 yrs. Retail facility in Summit, NJ 2,695 1,228 1,465 — 8 1,228 1,473 2,701 104 1950 Jan. 2014 27 yrs. Industrial and office facilities in Bunde, Dransfeld, and Wolfach, Germany — 2,789 8,750 — (2,269 ) 2,231 7,039 9,270 553 1898; 1956; 1978 Jan. 2014 24 yrs. Industrial facilities in Georgetown, TX and Woodland, WA 3,099 965 4,113 — — 965 4,113 5,078 233 1998; 2001; 2005 Jan. 2014 33 - 35 yrs. Learning centers in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX — 5,365 7,845 — 5 5,365 7,850 13,215 540 Various Jan. 2014 28 yrs. Industrial facility in Ylämylly, Finland 7,066 1,669 6,034 — (1,542 ) 1,335 4,826 6,161 271 1999 Jan. 2014 34 yrs. Industrial facility in Salisbury, NC 6,398 1,499 8,185 — — 1,499 8,185 9,684 564 2000 Jan. 2014 28 yrs. Industrial and office facilities in Plymouth, MI and Solon and Twinsburg, OH 3,763 2,831 10,565 — — 2,831 10,565 13,396 744 1970; 1991; 1995 Jan. 2014 26 - 27 yrs. Industrial facility in Cambridge, Canada — 1,849 7,371 — (1,796 ) 1,489 5,935 7,424 364 2001 Jan. 2014 31 yrs. Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN 12,252 2,962 17,832 — — 2,962 17,832 20,794 1,092 Various Jan. 2014 31 yrs. Industrial facility in Ramos Arizpe, Mexico — 1,059 2,886 — — 1,059 2,886 3,945 176 2000 Jan. 2014 31 yrs. Industrial facilities in Salt Lake City, UT 4,863 2,783 3,773 — — 2,783 3,773 6,556 231 Various Jan. 2014 31 - 33 yrs. Residential facility in Blairsville, PA 12,143 1,631 23,163 — — 1,631 23,163 24,794 2,384 2005 Jan. 2014 33 yrs. Industrial facility in Nashville, TN — 1,078 5,619 — — 1,078 5,619 6,697 504 1962 Jan. 2014 21 yrs. Office facility in Lafayette, LA 1,748 1,048 1,507 — — 1,048 1,507 2,555 106 1995 Jan. 2014 27 yrs. Warehouse facilities in Atlanta, Doraville, and Rockmart, GA 54,099 6,488 77,192 — — 6,488 77,192 83,680 5,178 1959; 1962; 1991 Jan. 2014 23 - 33 yrs. Warehouse facilities in Flora, MS and Muskogee, OK 3,410 554 4,353 — — 554 4,353 4,907 254 1992; 2002 Jan. 2014 33 yrs. Industrial facility in Richmond, MO 4,842 2,211 8,505 — — 2,211 8,505 10,716 590 1996 Jan. 2014 28 yrs. Warehouse facility in Dallas, TX 6,066 468 8,042 — — 468 8,042 8,510 652 1997 Jan. 2014 24 yrs. Industrial facility in Tuusula, Finland — 6,173 10,321 — (3,302 ) 4,937 8,255 13,192 619 1975 Jan. 2014 26 yrs. Office facility in Turku, Finland 23,852 5,343 34,106 — (7,898 ) 4,273 27,278 31,551 1,875 1981 Jan. 2014 28 yrs. Industrial facility in Turku, Finland 4,412 1,105 10,243 — (2,257 ) 884 8,207 9,091 566 1981 Jan. 2014 28 yrs. Industrial facility in Baraboo, WI — 917 10,663 — — 917 10,663 11,580 1,558 1988 Jan. 2014 13 yrs. Warehouse facility in Phoenix, AZ 18,972 6,747 21,352 — — 6,747 21,352 28,099 1,472 1996 Jan. 2014 28 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Description Encumbrances Land Buildings Land Buildings Total Land in Calgary, Canada — 3,721 — — (725 ) 2,996 — 2,996 — N/A Jan. 2014 N/A Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX 2,398 955 4,779 — — 955 4,779 5,734 295 1950; 1986; 1996 Jan. 2014 31 yrs. Industrial facility in Buffalo Grove, IL 7,322 1,492 12,233 — — 1,492 12,233 13,725 757 1996 Jan. 2014 31 yrs. Warehouse facility in Spanish Fork, UT 7,055 991 7,901 — — 991 7,901 8,892 463 2001 Jan. 2014 33 yrs. Industrial, office, and warehouse facilities in Perris, CA; Eugene, OR; West Jordan, UT; and Tacoma, WA — 8,989 5,435 — 8 8,989 5,443 14,432 371 Various Jan. 2014 28 yrs. Office facility in Carlsbad, CA — 3,230 5,492 — — 3,230 5,492 8,722 445 1999 Jan. 2014 24 yrs. Land in Pensacola, FL 1,026 1,746 — — — 1,746 — 1,746 — N/A Jan. 2014 N/A Movie theater in Port St. Lucie, FL 5,393 4,654 2,576 — — 4,654 2,576 7,230 180 2000 Jan. 2014 27 yrs. Movie theater in Hickory Creek, TX — 1,693 3,342 — — 1,693 3,342 5,035 239 2000 Jan. 2014 27 yrs. Industrial facility in Nurieux-Volognat, France — 121 5,328 — (994 ) 96 4,359 4,455 258 2000 Jan. 2014 32 yrs. Warehouse facility in Suwanee, GA 15,278 2,330 8,406 — — 2,330 8,406 10,736 476 1995 Jan. 2014 34 yrs. Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS 7,336 1,878 8,579 — — 1,878 8,579 10,457 701 Various Jan. 2014 24 yrs. Industrial facilities in Fort Dodge, IN and Menomonie and Oconomowoc, WI 8,649 1,403 11,098 — — 1,403 11,098 12,501 1,306 1996 Jan. 2014 16 yrs. Industrial facility in Mesa, AZ 4,768 2,888 4,282 — — 2,888 4,282 7,170 301 1991 Jan. 2014 27 yrs. Industrial facility in North Amityville, NY 7,735 3,486 11,413 — — 3,486 11,413 14,899 840 1981 Jan. 2014 26 yrs. Warehouse facilities in Greenville, SC — 567 10,217 — 15 567 10,232 10,799 950 1960 Jan. 2014 21 yrs. Industrial facility in Fort Collins, CO 7,532 821 7,236 — — 821 7,236 8,057 422 1993 Jan. 2014 33 yrs. Office facility in Piscataway, NJ — 4,984 34,165 31,616 — 4,984 65,781 70,765 3,004 1968 Jan. 2014 31 yrs. Land in Elk Grove Village, IL 1,711 4,037 — — — 4,037 — 4,037 — N/A Jan. 2014 N/A Office facilities in Washington, MI 26,757 4,085 7,496 — — 4,085 7,496 11,581 438 1987; 1990 Jan. 2014 33 yrs. Office facility in Houston, TX — 522 7,448 227 — 522 7,675 8,197 542 1999 Jan. 2014 27 yrs. Industrial facilities in Conroe, Houston, Odessa, and Weimar, TX and office facility in Houston, TX 6,623 4,049 13,021 — 133 4,049 13,154 17,203 1,347 Various Jan. 2014 12 - 22 yrs. Learning center in Sacramento, CA 27,284 — 13,715 — — — 13,715 13,715 786 2005 Jan. 2014 34 yrs. Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX — 5,138 8,387 — 43 5,138 8,430 13,568 582 1969; 1974; 1984 Jan. 2014 27 yrs. Office facility in Tinton Falls, NJ 6,869 1,958 7,993 — — 1,958 7,993 9,951 500 2001 Jan. 2014 31 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period (c) Accumulated Depreciation (c) Date of Construction Date Acquired Life on which Depreciation in Latest Statement of Income is Computed Description Encumbrances Land Buildings Land Buildings Total Industrial facility in Woodland, WA — 707 1,562 — — 707 1,562 2,269 85 2009 Jan. 2014 35 yrs. Warehouse facilities in Gyál and Herceghalom, Hungary 33,523 14,601 21,915 — (7,310 ) 11,678 17,528 29,206 1,642 2002; 2004 Jan. 2014 21 yrs. Industrial facility in Windsor, CT — 453 637 — — 453 637 1,090 37 1999 Jan. 2014 33 yrs. Industrial facility in Aurora, CO 2,823 574 3,999 — — 574 3,999 4,573 195 2012 Jan. 2014 40 yrs. Office facility in Chandler, AZ — 5,318 27,551 — — 5,318 27,551 32,869 1,400 2008 Mar. 2014 40 yrs. Warehouse facility in University Park, IL — 7,962 32,756 221 — 7,962 32,977 40,939 1,544 2008 May 2014 40 yrs. Office facility in Stavanger, Norway — 10,296 91,744 — (30,185 ) 7,320 64,535 71,855 2,336 1975 Aug. 2014 40 yrs. Office facility in Westborough, MA — 3,409 37,914 — — 3,409 37,914 41,323 1,416 1992 Aug. 2014 40 yrs. Office facility in Andover, MA — 3,980 45,120 — — 3,980 45,120 49,100 1,481 1999 Oct. 2014 40 yrs. Office facility in Newport, United Kingdom — — 22,587 — (1,751 ) — 20,836 20,836 656 2014 Oct. 2014 40 yrs. Industrial facilities located throughout Australia — 30,455 94,724 53 (20,810 ) 25,272 79,150 104,422 6,110 Various Oct. 2014 Various Industrial facility in Lewisburg, OH — 1,627 13,721 — — 1,627 13,721 15,348 448 2014 Nov. 2014 40 yrs. Industrial facility in Opole, Poland — 2,151 21,438 — (2,934 ) 1,884 18,771 20,655 579 2014 Dec. 2014 38 yrs. Office facilities located throughout Spain — 51,778 257,624 — (33,636 ) 48,938 226,828 275,766 6,102 Various Dec. 2014 Various Retail facilities located throughout the United Kingdom — 66,319 230,113 — (6,623 ) 64,837 224,972 289,809 6,914 Various Jan. 2015 20 - 40 yrs. Warehouse facility in Rotterdam, Netherlands — — 33,935 — (1,383 ) — 32,552 32,552 774 2014 Feb. 2015 40 yrs. Retail facility in Bad Fischau, Austria — 2,855 18,829 — 224 2,884 19,024 21,908 453 1998 Apr. 2015 40 yrs. Industrial facility in Oskarshamn, Sweden — 3,090 18,262 — (453 ) 3,025 17,874 20,899 266 2015 Jun. 2015 40 yrs. Office facility in Sunderland, United Kingdom — 2,912 30,140 — (1,591 ) 2,771 28,690 31,461 337 2007 Aug. 2015 40 yrs. Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria — 9,449 15,838 — (557 ) 9,241 15,489 24,730 204 2008; 2010 Aug. 2015 40 yrs. Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX — — 49,190 — — — 49,190 49,190 310 1988; 1989; 1990 Oct. 2015 38 - 40 yrs. Retail facilities located in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands — 5,698 38,130 — 597 5,775 38,650 44,425 167 Various Nov. 2015 30 - 40 yrs. Office facility in Irvine, CA — 7,626 16,137 — — 7,626 16,137 23,763 12 1977 Dec. 2015 40 yrs. $ 2,080,307 $ 1,279,611 $ 4,268,407 $ 189,559 $ (429,366 ) $ 1,160,567 $ 4,147,644 $ 5,308,211 $ 372,735 SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2015 (in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (a) Increase (Decrease) in Net Investments (b) Gross Amount at which Carried at Close of Period Total Date of Construction Date Acquired Description Encumbrances Land Buildings Direct Financing Method Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, North Carolina, and Texas $ — $ — $ 16,416 $ — $ (4,164 ) $ 12,252 Various Jan. 1998 Industrial facilities in Glendora, CA and Romulus, MI — 454 13,251 9 (3,477 ) 10,237 1950; 1970 Jan. 1998 Industrial facilities in Irving and Houston, TX — — 27,599 — (3,952 ) 23,647 1978 Jan. 1998 Retail facility in Freehold, NJ 8,088 — 17,067 — (108 ) 16,959 2004 Sep. 2012 Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX 4,277 2,089 14,211 — (329 ) 15,971 1969; 1996; 2000 Sep. 2012 Retail facilities in Osnabruck, Borken, Bunde, Arnstadt, Dorsten, Duisburg, Freiberg, Leimbach-Kaiserro, Monheim, Oberhausen, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, Wuppertal, and Monheim, Germany — 28,734 145,854 — (27,070 ) 147,518 Various Sep. 2012 Warehouse facility in Brierley Hill, United Kingdom — 2,147 12,357 — (574 ) 13,930 1996 Sep. 2012 Warehouse and industrial facilities in Mesquite, TX 6,337 2,851 15,899 — (1,254 ) 17,496 1961; 1972; 1975 Sep. 2012 Industrial facility in Rochester, MN 4,074 881 17,039 — (1,520 ) 16,400 1997 Sep. 2012 Office facility in Irvine, CA 6,428 — 17,027 — (522 ) 16,505 1981 Sep. 2012 Industrial facility in Brownwood, TX — 722 6,268 — (1 ) 6,989 1964 Sep. 2012 Office facility in Scottsdale, AZ 20,559 — 43,570 — (315 ) 43,255 1977 Jan. 2014 Retail facilities in El Paso, Fabens, and Socorro, TX 12,170 4,777 17,823 — (6 ) 22,594 Various Jan. 2014 Industrial facility in Dallas, TX — 3,190 10,010 — — 13,200 1968 Jan. 2014 Industrial facility in Eagan, MN 7,111 — 11,548 — (77 ) 11,471 1975 Jan. 2014 Industrial facilities in Albemarle and Old Fort, NC; Holmesville, OH; and Springfield, TN 8,982 6,542 20,668 — (1,185 ) 26,025 Various Jan. 2014 Movie theater in Midlothian, VA 8,244 — 16,546 — 201 16,747 2000 Jan. 2014 Industrial facilities located throughout France 14,036 — 27,270 — (4,752 ) 22,518 Various Jan. 2014 Retail facility in Gronau, Germany 5,674 281 4,401 — (937 ) 3,745 1989 Jan. 2014 Industrial and office facilities in Marktheidenfeld, Germany — 1,629 22,396 — (5,310 ) 18,715 2002 Jan. 2014 Industrial and warehouse facilities in Newbridge, United Kingdom 11,952 6,851 22,868 — (3,467 ) 26,252 1998 Jan. 2014 Learning center in Mooresville, NC 3,759 1,795 15,955 — 2 17,752 2002 Jan. 2014 Industrial facility in Mount

Schedule IV - Mortgage Loan on

Schedule IV - Mortgage Loan on Real Estate	12 Months Ended
	Dec. 31, 2015
Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loan on Real Estate	SCHEDULE IV — MORTGAGE LOANS ON REAL ESTATE December 31, 2015 (dollars in thousands) Interest Rate Final Maturity Date Fair Value Carrying Amount Description Note receivable — Production Resource Group - Las Vegas 7.9% Mar. 2029 $ 10,610 $ 10,689 NOTES TO SCHEDULE IV — MORTGAGE LOANS ON REAL ESTATE (in thousands) Reconciliation of Mortgage Loans on Real Estate Years Ended December 31, 2015 2014 2013 Balance at beginning of year $ 20,848 $ — $ — Additions (a) — 21,060 — Amortization and accretion 63 (212 ) — Repayments (a) (10,222 ) — — Ending balance $ 10,689 $ 20,848 $ — __________ (a) We acquired two notes at a discount of $0.3 million in the CPA ® :16 Merger. One of the notes was repaid in full to us in 2015 ( Note 6 ).

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounting for Acquisitions	Accounting for Acquisitions In accordance with the guidance for business combinations, we determine whether a transaction or other event is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method. If the assets acquired are not a business, we account for the transaction or other event as an asset acquisition. Under both methods, we recognize the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquired entity. In addition, for transactions that are business combinations, we evaluate the existence of goodwill or a gain from a bargain purchase. We capitalize acquisition-related costs and fees associated with asset acquisitions. We immediately expense acquisition-related costs and fees associated with business combinations. Purchase Price Allocation of Tangible Assets — When we acquire properties with leases classified as operating leases, we allocate the purchase price to the tangible and intangible assets and liabilities acquired based on their estimated fair values. The tangible assets consist of land, buildings, and site improvements. The intangible assets include the above- and below-market value of leases and the in-place leases, which includes a value for tenant relationships. Land is typically valued utilizing the sales comparison (or market) approach. Buildings are valued, as if vacant, using the cost and/or income approach. Site improvements are valued using the cost approach. The fair value of real estate is determined (i) primarily by reference to portfolio appraisals, which determines their values on a property level, by applying a discounted cash flow analysis to the estimated net operating income for each property in the portfolio during the remaining anticipated lease term, and (ii) by the estimated residual value, which is based on a hypothetical sale of the property upon expiration of a lease factoring in the re-tenanting of such property at estimated current market rental rates, applying a selected capitalization rate, and deducting estimated costs of sale. Assumptions used in the model are property-specific where this information is available; however, when certain necessary information is not available, we use available regional and property-type information. Assumptions and estimates include the following: • a discount rate or internal rate of return; • the marketing period necessary to put a lease in place; • carrying costs during the marketing period; • leasing commissions and tenant improvement allowances; • market rents and growth factors of these rents; and • a market lease term and a capitalization rate to be applied to an estimate of market rent at the end of the market lease term. The discount rates and residual capitalization rates used to value the properties are selected based on several factors, including: • the creditworthiness of the lessees; • industry surveys; • property type; • property location and age; • current lease rates relative to market lease rates; and • anticipated lease duration. In the case where a tenant has a purchase option deemed to be favorable to the tenant, or the tenant has long-term renewal options at rental rates below estimated market rental rates, we include the value of the exercise of such purchase option or long-term renewal options in the determination of residual value. Where a property is deemed to have excess land, the discounted cash flow analysis includes the estimated excess land value at the assumed expiration of the lease, based upon an analysis of comparable land sales or listings in the general market area of the property adjusted for estimated market growth rates through the year of lease expiration. The remaining economic life of leased assets is estimated by relying in part upon third-party appraisals of the leased assets, industry standards, and based on our experience. Different estimates of remaining economic life will affect the depreciation expense that is recorded. Purchase Price Allocation of Intangible Assets — We record above- and below-market lease intangible values for acquired properties based on the present value (using a discount rate reflecting the risks associated with the leases acquired including consideration of the credit of the lessee) of the difference between (i) the contractual rents to be paid pursuant to the leases negotiated and in place at the time of acquisition of the properties and (ii) our estimate of fair market lease rates for the property or equivalent property, both of which are measured over the estimated lease term, which includes renewal options that have rental rates below estimated market rental rates. We discount the difference between the estimated market rent and contractual rent to a present value using an interest rate reflecting our current assessment of the risk associated with the lease acquired, which includes a consideration of the credit of the lessee. Estimates of market rent are generally determined by us relying in part upon a third-party appraisal obtained in connection with the property acquisition and can include estimates of market rent increase factors, which are generally provided in the appraisal or by local real estate brokers. We measure the fair value of below-market purchase option liabilities we acquire as the excess of the present value of the fair value of the real estate over the present value of the tenant’s exercise price at the option date. We evaluate the specific characteristics of each tenant’s lease and any pre-existing relationship with each tenant in determining the value of in-place lease intangibles. To determine the value of in-place lease intangibles, we consider the following: • estimated market rent; • estimated lease term, including renewal options at rental rates below estimated market rental rates; • estimated carrying costs of the property during a hypothetical expected lease-up period; and • current market conditions and costs to execute similar leases, including tenant improvement allowances and rent concessions. Estimated carrying costs of the property include real estate taxes, insurance, other property operating costs, and estimates of lost rentals at market rates during the market participants’ expected lease-up periods, based on assessments of specific market conditions. We determine these values using our estimates or by relying in part upon third-party appraisals conducted by independent appraisal firms. We amortize the above-market lease intangible as a reduction of lease revenue over the remaining contractual lease term. We amortize the below-market lease intangible as an increase to lease revenue over the initial term and any renewal periods in the respective leases. We include the value of below-market leases in Below-market rent and other intangible liabilities in the consolidated financial statements. We include the amortization of above- and below-market ground lease intangibles in Property expenses in the consolidated financial statements. The value of any in-place lease is estimated to be equal to the acquirer’s avoidance of costs as a result of having tenants in place, that would be necessary to lease the property for a lease term equal to the remaining primary in-place lease term and the value of investment grade tenancy. The cost avoidance is derived first by determining the in-place lease term on the subject lease. Then, based on our review of the market, the cost to be borne by a property owner to replicate a market lease to the remaining in-place term is estimated. These costs consist of: (i) rent lost during downtime (i.e., assumed periods of vacancy), (ii) estimated expenses that would be incurred by the property owner during periods of vacancy, (iii) rent concessions (i.e. free rent), (iv) leasing commissions, and (v) tenant improvements allowances given to tenants. We determine these values using our estimates or by relying in part upon third-party appraisals. We amortize the value of in-place lease intangibles to expense over the remaining initial term of each lease. The amortization period for intangibles does not exceed the remaining depreciable life of the building. If a lease is terminated, we charge the unamortized portion of above- and below-market lease values to rental income and in-place lease values to amortization expense. Purchase Price Allocation of Debt — When we acquire leveraged properties, the fair value of the related debt instruments is determined using a discounted cash flow model with rates that take into account the credit of the tenants, where applicable, and interest rate risk. Such resulting premium or discount is amortized over the remaining term of the obligation. We also consider the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant, the time until maturity and the current interest rate. Purchase Price Allocation of Goodwill — In the case of a business combination, after identifying all tangible and intangible assets and liabilities, the excess consideration paid over the fair value of the assets and liabilities acquired and assumed, respectively, represents goodwill. We allocate goodwill to the respective reporting units in which such goodwill arises. Goodwill acquired in the CPA ® :15 Merger and the CPA ® :16 Merger was attributed to the Real Estate Ownership segment which comprises one reporting unit. In the event we dispose of a property that constitutes a business under GAAP from a reporting unit with goodwill, we allocate a portion of the reporting unit’s goodwill to that business in determining the gain or loss on the disposal of the business. The amount of goodwill allocated to the business is based on the relative fair value of the business to the fair value of the reporting unit.
Impairment	Impairments We periodically assess whether there are any indicators that the value of our long-lived real estate and related intangible assets, may be impaired or that their carrying value may not be recoverable. These impairment indicators include, but are not limited to, the vacancy of a property that is not subject to a lease, an upcoming lease expiration, a tenant with credit difficulty, the termination of a lease by a tenant, or a likely disposition of the property. We may incur impairment charges on long-lived assets, including real estate, related intangible assets, direct financing leases, assets held for sale, and equity investments in real estate. We may also incur impairment charges on marketable securities and goodwill. Our policies and estimates for evaluating whether these assets are impaired are presented below. Real Estate — For real estate assets held for investment and related intangible assets in which an impairment indicator is identified, we follow a two-step process to determine whether an asset is impaired and to determine the amount of the charge. First, we compare the carrying value of the property’s asset group to the estimated future net undiscounted cash flow that we expect the property’s asset group will generate, including any estimated proceeds from the eventual sale of the property’s asset group. The undiscounted cash flow analysis requires us to make our best estimate of market rents, residual values, and holding periods. We estimate market rents and residual values using market information from outside sources such as broker quotes or recent comparable sales. In cases where the available market information is not deemed appropriate, we perform a future net cash flow analysis discounted for inherent risk associated with each asset to determine an estimated fair value. As our investment objective is to hold properties on a long-term basis, holding periods used in the undiscounted cash flow analysis are generally ten years, but may be less if our intent is to hold a property for less than ten years. Depending on the assumptions made and estimates used, the future cash flow projected in the evaluation of long-lived assets and associated intangible assets can vary within a range of outcomes. We consider the likelihood of possible outcomes in determining our estimate of future cash flows and, if warranted, we apply a probability-weighted method to the different possible scenarios. If the future net undiscounted cash flow of the property’s asset group is less than the carrying value, the carrying value of property’s asset group is considered not recoverable. We then measure the impairment loss as the excess of the carrying value of the property’s asset group over its estimated fair value. The estimated fair value of the property’s asset group is primarily determined using market information from outside sources such as broker quotes or recent comparable sales. In cases where the available market information is not deemed appropriate, we perform a future net cash flow analysis discounted for inherent risk associated with each asset to determine an estimated fair value. Assets Held for Sale — We classify real estate assets that are subject to operating leases as held for sale when we have entered into a contract to sell the property, all material due diligence requirements have been satisfied, and we believe it is probable that the disposition will occur within one year. When we classify an asset as held for sale, we compare the asset’s fair value less estimated cost to sell to its carrying value, and if the fair value less estimated cost to sell is less than the property’s carrying value, we reduce the carrying value to the fair value less estimated cost to sell. We base the fair value on the contract and the estimated cost to sell on information provided by brokers and legal counsel. We then compare the asset’s fair value (less estimated cost to sell) to its carrying value, and if the fair value, less estimated cost to sell, is less than the property’s carrying value, we reduce the carrying value to the fair value, less estimated cost to sell. We will continue to review the property for subsequent changes in the fair value, and may recognize an additional impairment charge, if warranted. Direct Financing Leases — We review our direct financing leases at least annually to determine whether there has been an other-than-temporary decline in the current estimate of residual value of the property. The residual value is our estimate of what we could realize upon the sale of the property at the end of the lease term, based on market information and third-party estimates, where available. If this review indicates that a decline in residual value has occurred that is other-than-temporary, we recognize an impairment charge equal to the difference between the fair value and carrying amount of the residual value. When we enter into a contract to sell the real estate assets that are recorded as direct financing leases, we evaluate whether we believe it is probable that the disposition will occur. If we determine that the disposition is probable, and therefore the asset’s holding period is reduced, we assess the carrying amount for recoverability and if as a result of the decreased expected cash flows we determine that our carrying value is not fully recoverable, we record an allowance for credit losses to reflect the change in the estimate of the future cash flows that includes rent. Accordingly, the net investment balance is written down to fair value. Equity Investments in the Managed Programs and Real Estate — We evaluate our equity investments in the Managed Programs and real estate on a periodic basis to determine if there are any indicators that the value of our equity investment may be impaired and whether or not that impairment is other-than-temporary. To the extent an impairment has occurred and is determined to be other-than-temporary, we measure the charge as the excess of the carrying value of our investment over its estimated fair value, which is determined by calculating our share of the estimated fair market value of the underlying net assets based on the terms of the applicable partnership or joint venture agreement. For our equity investments in real estate, we calculate the estimated fair value of the underlying investment’s real estate or net investment in direct financing lease as described in Real Estate and Direct Financing Leases above. The fair value of the underlying investment’s debt, if any, is calculated based on market interest rates and other market information. The fair value of the underlying investment’s other financial assets and liabilities (excluding net investment in direct financing leases) have fair values that generally approximate their carrying values. For certain investments in the Managed REITs, we calculate the estimated fair value of our investment using the most recently published net asset value per share of each Managed REIT, which for CPA ® :18 – Global is deemed to be the most recent public offering price through December 31, 2015 , multiplied by the number of shares owned.
Goodwill	Goodwill — We evaluate goodwill for possible impairment at least annually or upon the occurrence of a triggering event using a two-step process. A triggering event is an event or circumstance that would more likely than not reduce the fair value of a reporting unit below its carrying amount, including sales of properties defined as businesses for which the relative size of the sold property is significant to the reporting unit, that could impact our goodwill impairment calculations. To identify any impairment, we first compare the estimated fair value of each of our reporting units with their respective carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, we do not consider goodwill to be impaired and no further analysis is required. If the carrying amount of the reporting unit exceeds its estimated fair value, we then perform the second step to determine and measure the amount of the potential impairment charge. We calculate the estimated fair value of the Investment Management reporting unit by applying a price-to-EBITDA multiple to earnings. For the Real Estate Ownership reporting unit, we calculate its estimated fair value by applying an AFFO multiple. For both reporting units, the multiples are based on comparable companies. The selection of the comparable companies to be used in our evaluation process could have a significant impact on the fair value of our reporting units and possible impairments. The testing did not indicate any goodwill impairment as each of the reporting units with goodwill had fair value that was substantially in excess of the carrying value. For the second step, if it were required, we compare the implied fair value of the goodwill for each reporting unit with its respective carrying amount and record an impairment charge equal to the excess of the carrying amount over the implied fair value. We would determine the implied fair value of the goodwill by allocating the estimated fair value of the reporting unit to its assets and liabilities. The excess of the estimated fair value of the reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of the goodwill. The goodwill recorded in our Investment Management and Real Estate Ownership reporting units is evaluated during the fourth quarter of every year. In connection with the CPA ® :16 Merger and the CPA ® :15 Merger, we recorded goodwill in our Real Estate Ownership reporting unit. Prior to the CPA ® :15 Merger, there was no goodwill recorded in our Real Estate Ownership reporting unit.
Basis of Consolidation	Basis of Consolidation — Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries and our tenancy-in-common interest as described below. The portion of equity in a consolidated subsidiary that is not attributable, directly or indirectly, to us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. At December 31, 2015 , we had an investment in a tenancy-in-common interest in various underlying international properties. Consolidation of this investment is not required as such interest does not qualify as a VIE and does not meet the control requirement for consolidation. Accordingly, we account for this investment using the equity method of accounting. We use the equity method of accounting because the shared decision-making involved in a tenancy-in-common interest investment provides us with significant influence on the operating and financial decisions of this investment. We also had certain investments in other wholly-owned tenancy-in-common interests, which we now consolidate after we obtained the remaining interests in the CPA ® :16 Merger.
Variable Interest Entity	When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we should be deemed to be the primary beneficiary and are therefore required to consolidate the entity. We apply accounting guidance for consolidation of VIEs to certain entities in which the equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. Fixed price purchase and renewal options within a lease as well as certain decision-making rights within a loan or joint-venture agreement can cause us to consider an entity a VIE. Significant judgment is required to determine whether a VIE should be consolidated. We review the contractual arrangements provided for in the partnership agreement or other related contracts to determine whether the entity is considered a VIE, and to establish whether we have any variable interests in the VIE. We then compare our variable interests, if any, to those of the other variable interest holders to determine which party is the primary beneficiary of the VIE based on whether the entity (i) has the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. At December 31, 2015 , we consolidated 20 VIEs. In connection with the CPA ® :16 Merger, we acquired 12 VIEs. We consider these entities VIEs because the leases have certain features such as fixed price purchase or renewal options. For an entity that is not considered to be a VIE but rather a voting interest entity, the general partners in a limited partnership (or similar entity) are presumed to control the entity regardless of the level of their ownership and, accordingly, may be required to consolidate the entity. We evaluate the partnership agreements or other relevant contracts to determine whether there are provisions in the agreements that would overcome this presumption. If the agreements provide the limited partners with either (i) the substantive ability to dissolve or liquidate the limited partnership or otherwise remove the general partners without cause or (ii) substantive participating rights, the limited partners’ rights overcome the presumption of control by a general partner of the limited partnership, and, therefore, the general partner must account for its investment in the limited partnership using the equity method of accounting. Additionally, we own interests in single-tenant, net-leased properties leased to companies through noncontrolling interests in partnerships and limited liability companies that we do not control, but over which we exercise significant influence. We account for these investments under the equity method of accounting. At times, the carrying value of our equity investments may fall below zero for certain investments. We intend to fund our share of the jointly-owned investments’ future operating deficits should the need arise. However, we have no legal obligation to pay for any of the liabilities of such investments nor do we have any legal obligation to fund operating deficits. At December 31, 2015 , one of our equity investments was a VIE and none had carrying values below zero.
Reclassification	Reclassifications — Certain prior period amounts have been reclassified to conform to the current period presentation.
Real Estate and Operating Real Estate	Real Estate and Operating Real Estate — We carry land, buildings, and personal property at cost less accumulated depreciation. We capitalize improvements and significant renovations that extend the useful life of the properties, while we expense replacements, maintenance, and repairs that do not improve or extend the lives of the respective assets as incurred.
Assets Held for Sale	Assets Held for Sale — We classify those assets that are associated with operating leases as held for sale when we have entered into a contract to sell the property, all material due diligence requirements have been satisfied, and we believe it is probable that the disposition will occur within one year. Assets held for sale are recorded at the lower of carrying value or estimated fair value, less estimated costs to sell. Prior to January 1, 2014, the results of operations and the related gain or loss on sale of properties that have been sold or that were classified as held for sale and in which we will have no significant continuing involvement are included in discontinued operations ( Note 16 ). If circumstances arise that we previously considered unlikely and, as a result, we decide not to sell a property previously classified as held for sale, we reclassify the property as held and used. We measure and record a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used or (ii) the estimated fair value at the date of the subsequent decision not to sell. We recognize gains and losses on the sale of properties when, among other criteria, we no longer have continuing involvement, the parties are bound by the terms of the contract, all consideration has been exchanged, and all conditions precedent to closing have been performed. At the time the sale is consummated, a gain or loss is recognized as the difference between the sale price, less any selling costs, and the carrying value of the property.
Notes Receivables	Notes Receivable — For investments in mortgage notes and loan participations, the loans are initially reflected at acquisition cost, which consists of the outstanding balance, net of the acquisition discount or premium. We amortize any discount or premium as an adjustment to increase or decrease, respectively, the yield realized on these loans over the life of the loan. As such, differences between carrying value and principal balances outstanding do not represent embedded losses or gains as we generally plan to hold such loans to maturity. Our notes receivable are included in Other assets, net in the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents — We consider all short-term, highly-liquid investments that are both readily convertible to cash and have a maturity of three months or less at the time of purchase to be cash equivalents. Items classified as cash equivalents include commercial paper and money market funds. Our cash and cash equivalents are held in the custody of several financial institutions, and these balances, at times, exceed federally-insurable limits. We seek to mitigate this risk by depositing funds only with major financial institutions.
Internal-Use Software Development Cost	Internal-Use Software Development Costs — We expense costs associated with the assessment stage of software development projects. Upon completion of the preliminary project assessment stage, we capitalize internal and external costs associated with the application development stage, including the costs associated with software that allows for the conversion of our old data to our new system. We expense the personnel-related costs of training and data conversion. We also expense costs associated with the post-implementation and operation stage, including maintenance and specified upgrades; however, we capitalize internal and external costs associated with significant upgrades to existing systems that result in additional functionality. Capitalized costs are amortized on a straight-line basis over the software’s estimated useful life, which is three to seven years . Periodically, we reassess the useful life considering technology, obsolescence, and other factors.
Other Assets and Liabilities	Other Assets and Liabilities — We include prepaid expenses, deferred rental income, tenant receivables, deferred charges, escrow balances held by lenders, restricted cash balances, marketable securities, derivative assets, other intangible assets, corporate fixed assets and notes receivable in Other assets, net. We include derivative liabilities, amounts held on behalf of tenants, and deferred revenue in Other liabilities. Deferred charges are costs incurred in connection with mortgage financings, refinancings, issuance of corporate bonds, and the amendment of our credit facility that are amortized over the terms of the debt and included in Interest expense in the consolidated financial statements. Deferred rental income is the aggregate cumulative difference for operating leases between scheduled rents that vary during the lease term, and rent recognized on a straight-line basis.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts — We consider rents due under leases and payments under notes receivable to be past-due or delinquent when a contractually required rent, principal or interest payment is not remitted in accordance with the provisions of the underlying agreement. We evaluate each account individually and set up an allowance when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms, and the amount can be reasonably estimated.
Revenue Recognition	Revenue Recognition, Real Estate Leased to Others — We lease real estate to others primarily on a triple-net leased basis, whereby the tenant is generally responsible for operating expenses relating to the property, including property taxes, insurance, maintenance, repairs, and improvements. For the years ended December 31, 2015 , 2014 , and 2013 , our tenants, pursuant to their lease obligations, have made direct payment to the taxing authorities of real estate taxes of approximately $57.7 million , $59.8 million , and $37.3 million , respectively. Substantially all of our leases provide for either scheduled rent increases, periodic rent adjustments based on formulas indexed to changes in the Consumer Price Index, or CPI, or similar indices, or percentage rents. CPI-based adjustments are contingent on future events and are therefore not included as minimum rent in straight-line rent calculations. We recognize rents from percentage rents as reported by the lessees, which is after the level of sales requiring a rental payment to us is reached. Percentage rents were insignificant for the periods presented. For our operating leases, we record real estate at cost less accumulated depreciation; we recognize future minimum rental revenue on a straight-line basis over the non-cancelable lease term of the related leases and charge expenses to operations as incurred ( Note 5 ). We record leases accounted for under the direct financing method as a net investment ( Note 6 ). The net investment is equal to the cost of the leased assets. The difference between the cost and the gross investment, which includes the residual value of the leased asset and the future minimum rents, is unearned income. We defer and amortize unearned income to income over the lease term so as to produce a constant periodic rate of return on our net investment in the lease. Revenue Recognition, Investment Management Operations — We earn structuring revenue and asset management revenue in connection with providing services to the Managed Programs. We earn structuring revenue for services we provide in connection with the analysis, negotiation, and structuring of transactions, including acquisitions and dispositions and the placement of mortgage financing obtained by the Managed REITs. Asset management revenue is earned from property management, leasing, and advisory services performed. Receipt of the incentive revenue portion of the asset management revenue or performance revenue, however, was subordinated to the achievement of specified cumulative return requirements by the stockholders of those CPA ® REITs. At our option, the performance revenue could be collected in cash or shares of the CPA ® REIT ( Note 4 ). In addition, we earn subordinated incentive and disposition revenue related to the disposition of properties. We may also earn termination revenue in connection with the termination of the advisory agreements for the Managed REITs. We recognize all revenue as earned. We earn structuring revenue upon the consummation of a transaction and asset management revenue when services are performed. We recognize revenue subject to subordination only when the performance criteria of the Managed REIT is achieved and contractual limitations are not exceeded. We may earn termination revenue if a liquidity event is consummated by any of the Managed REITs. As a condition of the CPA ® :16 Merger, we waived the subordinated disposition and termination fees that we would have been entitled to receive from CPA ® :16 – Global upon its liquidation pursuant to the terms of our advisory agreement with CPA ® :16 – Global ( Note 4 ). We are also reimbursed for certain costs incurred in providing services, including broker-dealer commissions paid and annual distribution and shareholder servicing fees incurred on behalf of the Managed Programs, marketing costs, and the cost of personnel provided for the administration of the Managed Programs. We record reimbursement income as the expenses are incurred, subject to limitations on a Managed Program’s ability to incur offering costs or limitations imposed by the advisory agreements.
Asset Retirement Obligations	sset Retirement Obligations — Asset retirement obligations relate to the legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development, and/or normal operation of a long-lived asset. The fair value of a liability for an asset retirement obligation is recorded in the period in which it is incurred and the cost of such liability is recorded as an increase in the carrying amount of the related long-lived asset by the same amount. The liability is accreted each period and the capitalized cost is depreciated over the estimated remaining life of the related long-lived asset. Revisions to estimated retirement obligations result in adjustments to the related capitalized asset and corresponding liability. In order to determine the fair value of the asset retirement obligations, we make certain estimates and assumptions including, among other things, projected cash flows, the borrowing interest rate, and an assessment of market conditions that could significantly impact the estimated fair value. These estimates and assumptions are subjective.
Depreciation	Depreciation — We compute depreciation of building and related improvements using the straight-line method over the estimated remaining useful lives of the properties (not to exceed 40 years ) and furniture, fixtures, and equipment (generally up to seven years ). We compute depreciation of tenant improvements using the straight-line method over the lesser of the remaining term of the lease or the estimated useful life.
Stock-based Compensation	Stock-Based Compensation — We have granted stock options, restricted stock awards, or RSAs, restricted shares units, or RSUs, and performance share units, or PSUs, to certain employees and independent directors. Grants were awarded in the name of the recipient subject to certain restrictions of transferability and a risk of forfeiture. Stock-based compensation expense for all equity-classified stock-based compensation awards is based on the grant date fair value estimated in accordance with current accounting guidance for share-based payments. We recognize these compensation costs for only those shares expected to vest on a straight-line or graded-vesting basis, as appropriate, over the requisite service period of the award. We include stock-based compensation within the Additional paid-in capital caption of equity.
Foreign Currency	Foreign Currency Translation and Transaction Gains and Losses — We have interests in real estate investments primarily in the European Union, the United Kingdom, and Australia for which the functional currency is the euro, the British pound sterling, and the Australian dollar, respectively. We perform the translation from the euro, the British pound sterling, or the Australian dollar to the U.S. dollar for assets and liabilities using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted-average exchange rate during the year. We report the gains and losses resulting from such translation as a component of other comprehensive income in equity. These translation gains and losses are released to net income when we have substantially exited from all investments in the related currency. A transaction gain or loss (measured from the transaction date or the most recent intervening balance sheet date, whichever is later), realized upon settlement of a foreign currency transaction generally will be included in net income for the period in which the transaction is settled. Also, foreign currency intercompany transactions that are scheduled for settlement, consisting primarily of accrued interest and the translation to the reporting currency of short-term subordinated intercompany debt with scheduled principal payments, are included in the determination of net income. Intercompany foreign currency transactions of a long term nature (that is, settlement is not planned or anticipated in the foreseeable future), in which the entities to the transactions are consolidated or accounted for by the equity method in our consolidated financial statements, are not included in net income but are reported as a component of other comprehensive income in equity. Net realized gains or (losses) are recognized on foreign currency transactions in connection with the transfer of cash from foreign operations of subsidiaries to the parent company.
Derivative Instruments	Derivative Instruments — We measure derivative instruments at fair value and record them as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive (loss) income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. For a derivative designated and that qualified as a net investment hedge, the effective portion of the change in the fair value and/or the net settlement of the derivative are reported in Other comprehensive (loss) income as part of the cumulative foreign currency translation adjustment. The ineffective portion of the change in fair value of the derivative is recognized directly in earnings. Amounts are reclassified out of Other comprehensive (loss) income into earnings when the hedged investment is either sold or substantially liquidated. We use the portfolio exception in Accounting Standards Codification, 820-10-35-18D, Application to Financial Assets and Financial Liabilities with Offsetting Positions in Market Risk or Counterparty Credit Risk , with respect to measuring counterparty credit risk for all of our derivative transactions subject to master netting arrangements.
Income Taxes	Income Taxes — We have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code. In order to maintain our qualification as a REIT, we are required, among other things, to distribute at least 90% of our REIT net taxable income to our stockholders and meet certain tests regarding the nature of our income and assets. As a REIT, we are not subject to federal income taxes on our income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, as well as other factors. We believe that we have operated, and we intend to continue to operate, in a manner that allows us to continue to qualify as a REIT. We conduct business in various states and municipalities within the United States, Europe, and Asia and, as a result, we or one or more of our subsidiaries file income tax returns in the United States federal jurisdiction and various state and certain foreign jurisdictions. As a result, we are subject to certain foreign, state, and local taxes and a provision for such taxes is included in the consolidated financial statements. We elect to treat certain of our corporate subsidiaries as TRSs. In general, a TRS may perform additional services for our tenants and generally may engage in any real estate or non-real estate-related business (except for the operation or management of health care facilities or lodging facilities or providing to any person, under a franchise, license or otherwise, rights to any brand name under which any lodging facility or health care facility is operated). A TRS is subject to corporate federal income tax. One of our TRS subsidiaries owns a hotel that is managed on our behalf by a third-party hotel management company. Deferred income taxes are recorded for the corporate subsidiaries TRS and for the foreign taxes in those respective jurisdictions based on earnings reported. The current provision for income taxes differs from the amounts currently payable because of temporary differences in the recognition of certain income and expense items for financial reporting and tax reporting purposes. Deferred income taxes are computed under the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between tax bases and financial bases of assets and liabilities ( Note 15 ). Significant judgment is required in determining our tax provision and in evaluating our tax positions. We establish tax reserves based on a benefit recognition model, which we believe could result in a greater amount of benefit (and a lower amount of reserve) being initially recognized in certain circumstances. Provided that the tax position is deemed more likely than not of being sustained, we recognize the largest amount of tax benefit that is greater than 50 percent likely of being ultimately realized upon settlement. We derecognize the tax position when it is no longer more likely than not of being sustained. Our earnings and profits, which determine the taxability of distributions to stockholders, differ from net income reported for financial reporting purposes due primarily to differences in depreciation, including hotel properties, and timing differences of rent recognition and certain expense deductions, for federal income tax purposes. Deferred income taxes relate primarily to our TRSs and foreign properties and are accounted for using the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial reporting bases of assets and liabilities of our TRSs and their respective tax bases and for their operating loss and tax credit carry forwards based on enacted tax rates expected to be in effect when such amounts are realized or settled. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including tax planning strategies and other factors. We recognize deferred income taxes in certain of our subsidiaries taxable in the United States or in foreign jurisdictions. Deferred income taxes are generally the result of temporary differences (items that are treated differently for tax purposes than for U.S. GAAP purposes as described in Note 15 ). In addition, deferred tax assets arise from unutilized tax net operating losses, generated in prior years. We provide a valuation allowance against our deferred income tax assets when we believe that it is more likely than not that all or some portion of the deferred income tax asset may not be realized. Whenever a change in circumstances causes a change in the estimated realizability of the related deferred income tax asset, the resulting increase or decrease in the valuation allowance is included in deferred income tax expense (benefit). We derive most of our REIT income from our real estate operations under our Real Estate Ownership segment. As such, our real estate operations are generally not subject to federal tax, and accordingly, no provision has been made for U.S. federal income taxes in the consolidated financial statements for these operations. These operations may be subject to certain state, local, and foreign taxes, as applicable. We conduct our Investment Management operations primarily through TRSs. These operations are subject to federal, state, local, and foreign taxes, as applicable. Our financial statements are prepared on a consolidated basis including these TRSs and include a provision for current and deferred taxes on these operations. During the year ended December 31, 2015, we revised our December 31, 2014 consolidated balance sheet to correct the misclassification of certain deferred tax assets that were previously netted in deferred income tax liabilities. Such deferred income tax assets of approximately $11.2 million are included in Other assets, net in the revised consolidated balance sheet as of December 31, 2014.
Earnings Per Share	Earnings Per Share — Basic earnings per share is calculated by dividing net income available to common stockholders, as adjusted for unallocated earnings attributable to the unvested RSUs and RSAs by the weighted-average number of shares of common stock outstanding during the year. Diluted earnings per share reflects potentially dilutive securities (options and PSUs) using the treasury stock method, except when the effect would be anti-dilutive.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
Recent Accounting Requirements	Recent Accounting Requirements The following Accounting Standards Updates, or ASUs, promulgated by the Financial Accounting Standards Board, or FASB, are applicable to us: ASU 2015-16, Business Combinations (Topic 805) — ASU 2015-16 requires that an acquirer recognize adjustments identified during the business combination measurement period in the reporting period in which the adjustment amounts are determined. The effects on earnings due to changes in depreciation, amortization, or other income effects as a result of the change are also recognized in the same period’s financial statements. ASU 2015-16 also requires that acquirers present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, early adoption is permitted, and prospective application is required for adjustments that are identified after the effective date of this update. We elected to early adopt ASU 2015-16 and implemented the standard prospectively beginning July 1, 2015. The adoption and implementation of the standard did not have a material impact on our financial statements. ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) — ASU 2015-03 changes the presentation of debt issuance costs, which are currently recognized as a deferred charge (that is, an asset) and requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 does not affect the recognition and measurement guidance for debt issuance costs. ASU 2015-03 is effective for periods beginning after December 15, 2015, early adoption is permitted and retrospective application is required. We are currently evaluating the impact of ASU 2015-03 on our consolidated financial statements and expect to reclassify $12.6 million of deferred financing costs, net from Other assets, net to Non-recourse debt, net, Senior Unsecured Credit Facility - Term Loan, and Senior Unsecured Notes, net as of January 1, 2016. ASU 2015-02, Consolidation (Topic 810) — We will adopt ASU 2015-02 on January 1, 2016 and are currently in the process of evaluating its impact on the consolidated financial statements. We are evaluating our joint ventures, as well as existing leases that create VIEs based on lease terms, including a fixed-price purchase option or fixed-price renewal option. We generally create our joint ventures as partnerships in the form of a limited liability company or a limited partnership. ASU 2015-02 requires an entity to classify a limited liability company or a limited partnership as a VIE unless the partnership provides partners with either substantive kick-out rights or substantive participating rights over the managing member or general partner. Since a majority of our partnerships lack kick-out rights or substantive participating rights over the managing member or general partner, the impact of this new guidance for us is primarily a change in classification from voting interest entity to VIE. This ASU does not change the criteria regarding which party consolidates a VIE. Thus, the change in classification will require us to include additional entities as part of our VIE disclosures. However, there is not expected to be an impact to our consolidated balance sheets or results of operations for any of the periods presented. ASU 2014-12, Compensation - Stock Compensation (Topic 718) — ASU 2014-12 provides guidance on share-based payment awards, in which a performance target that affects vesting and that could be achieved after the requisite vesting period be treated as a performance condition. ASU 2014-12 is effective for periods beginning after December 15, 2015 and early adoption is permitted. We are currently evaluating the impact of ASU 2014-12 on our consolidated financial statements. ASU 2014-09 , Revenue from Contracts with Customers (Topic 606) — ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 does not apply to our lease revenues, but will apply to reimbursed tenant costs and revenues generated from our operating properties and our Investment Management business. Additionally, this guidance modifies disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all entities by one year, until years beginning in 2018, with early adoption permitted but not before 2017, the original public company effective date. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard. Proposed Accounting Change The following proposed accounting change may potentially impact our Real Estate Ownership and Investment Management segments if the outcome has a significant influence on sale-leaseback demand in the marketplace: The FASB previously issued an Exposure Draft on a joint proposal with the International Accounting Standards Board, or IASB, that would significantly transform lease accounting from the existing model. These changes would impact most companies but are particularly applicable to those that are significant users of real estate. The proposal outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. In November 2015, the FASB directed the staff to draft a final ASU on leases for vote by written ballot. In addition, the FASB decided that for (i) public business entities, (ii) a not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an-over-the-counter market, and (iii) an employee benefit plan that files or furnishes statements with or to the SEC (collectively referred to as “public business entities”), the final leases standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; for all other entities, the final leases standard will be effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early application will be permitted for all entities upon issuance of the final standard. In the first quarter of 2016, the IASB and FASB finalized their lease standards, which brings most leases on the balance sheet for lessees under a single model. For lessors, however, the accounting remains largely unchanged and the distinction between operating and finance leases is retained. Both standards are effective for annual reporting periods beginning on or after January 1, 2019. For some companies, the new accounting guidance may influence whether or not, or the extent to which, they may enter into the type of sale-leaseback transactions in which we specialize. We are evaluating the impact of the new standards and have not determined if they will have a material impact on our business.
Goodwill and Intangible Assets, Intangible Assets	Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Lease revenues; amortization of management contracts, in-place lease and tenant relationship intangibles is included in Depreciation and amortization; and amortization of above-market ground lease and below-market ground lease intangibles is included in Property expenses. In connection with our acquisitions of properties, we have recorded net lease intangibles that are being amortized over periods ranging from one year to 43 years . In addition, we have several ground lease intangibles that are being amortized over periods of up to 99 years . In-place lease and tenant relationship intangibles are included in In-place lease and tenant relationship intangible assets, net in the consolidated financial statements. Above-market rent intangibles are included in Above-market rent intangible assets, net in the consolidated financial statements. Below-market ground lease (as lessee), trade name, management contracts, and software license intangibles are included in Other assets, net in the consolidated financial statements. Below-market rent, above-market ground lease (as lessee), and below-market purchase option intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements.
Fair Value Measurement	The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, and foreign currency forward contracts; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.
Redeemable Noncontrolling Interest	We account for the noncontrolling interest in W. P. Carey International, LLC, or WPCI, held by a third party as a redeemable noncontrolling interest ( Note 14 ). We determined the valuation of redeemable noncontrolling interest using widely accepted valuation techniques, including comparable transaction analysis, comparable public company analysis, and discounted cash flow analysis.
Discontinued Operations	From time to time, we may decide to sell a property. We have an active capital recycling program, with a goal of extending the average lease term through reinvestment, improving portfolio credit quality through dispositions and acquisitions of assets, increasing the asset criticality factor in our portfolio, and/or executing strategic dispositions of assets. We may make a decision to dispose of a property when it is vacant as a result of tenants vacating space, tenants electing not to renew their leases, tenant insolvency, or lease rejection in the bankruptcy process. In such cases, we assess whether we can obtain the highest value from the property by selling it, as opposed to re-leasing it. We may also sell a property when we receive an unsolicited offer or negotiate a price for an investment that is consistent with our strategy for that investment. When it is appropriate to do so, we classify the property as an asset held for sale on our consolidated balance sheet. For those properties sold or classified as held for sale prior to January 1, 2014, we classify current and prior period results of operations of the property as discontinued operations in accordance with our adoption of ASU 2014-08. All property dispositions are recorded within our Real Estate Ownership segment.

Merger with CPA_16 Global (Tabl

Merger with CPA:16 Global (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Acquisition, Pro Forma Information	The following unaudited consolidated pro forma financial information has been presented as if the CPA ® :16 Merger had occurred on January 1, 2013 for the years ended December 31, 2014 and 2013. The pro forma financial information is not necessarily indicative of what the actual results would have been had the CPA ® :16 Merger occurred on that date, nor does it purport to represent the results of operations for future periods. (in thousands, except share and per share amounts) Years Ended December 31, 2014 2013 Pro forma total revenues $ 931,309 $ 780,578 Pro forma net income from continuing operations, net of tax $ 139,698 $ 146,525 Pro forma net income attributable to noncontrolling interests (5,380 ) 10,963 Pro forma net loss (income) attributable to redeemable noncontrolling interest 142 (1,909 ) Pro forma net income from continuing operations, net of tax attributable to W. P. Carey (a) $ 134,460 $ 155,579 Pro forma earnings per share: (a) Basic $ 1.32 $ 1.56 Diluted $ 1.31 $ 1.54 Pro forma weighted-average shares: (b) Basic 101,296,847 99,420,924 Diluted 102,360,038 100,437,886 __________ (a) The pro forma income attributable to W. P. Carey for the year ended December 31, 2013 reflects the following income and expenses recognized related to the CPA ® :16 Merger as if the CPA ® :16 Merger had taken place on January 1, 2013: (i) combined merger expenses through December 31, 2014, (ii) an aggregate gain on change in control of interests, and (iii) an income tax expense from a permanent difference upon recognition of deferred revenue associated with accelerated vesting of shares previously issued by CPA ® :16 – Global for asset management and performance fees in connection with the CPA ® :16 Merger. (b) The pro forma weighted-average shares outstanding for the years ended December 31, 2014 and 2013 were determined as if the 30,729,878 shares of our common stock issued to CPA ® :16 – Global stockholders in the CPA ® :16 Merger were issued on January 1, 2013.

Agreements and Transactions w37

Agreements and Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions	The following tables present a summary of revenue earned and/or cash received from the Managed Programs for the periods indicated, included in the consolidated financial statements. Asset management revenue excludes amounts received from third parties (in thousands): Years Ended December 31, 2015 2014 2013 Structuring revenue $ 92,117 $ 71,256 $ 46,589 Reimbursable costs from affiliates 55,837 130,212 73,592 Asset management revenue 49,892 37,970 42,579 Distributions of Available Cash 38,406 31,052 34,121 Dealer manager fees 4,794 23,532 10,856 Interest income on deferred acquisition fees and loans to affiliates 1,639 684 949 Incentive, termination and subordinated disposition revenue 203 — 199 Deferred revenue earned — 786 8,492 $ 242,888 $ 295,492 $ 217,377 Years Ended December 31, 2015 2014 2013 CPA ® :16 – Global $ — $ 7,999 $ 53,166 CPA ® :17 – Global 81,740 68,710 69,275 CPA ® :18 – Global 85,431 129,642 29,293 CWI 1 44,712 89,141 65,643 CWI 2 30,340 — — CCIF 665 — — $ 242,888 $ 295,492 $ 217,377
Schedule of Balances Due to and From Related Party	The following table presents a summary of amounts included in Due from affiliates in the consolidated financial statements (in thousands): December 31, 2015 2014 Deferred acquisition fees receivable $ 33,386 $ 26,913 Accounts receivable 15,711 2,680 Reimbursable costs 5,579 301 Current acquisition fees receivable 4,909 2,463 Asset management fee receivable 2,172 — Organization and offering costs 461 2,120 $ 62,218 $ 34,477
Schedule of Related Party Fees	Asset Management Revenue Under the advisory agreements with the Managed Programs, we earn asset management revenue for managing their investment portfolios. The following table presents a summary of our asset management fee arrangements with the Managed Programs: Managed Program Rate Payable Description CPA ® :16 – Global 0.5% 2013 in shares of its common stock through July 31, 2013; in cash thereafter; 2014 in cash; 2015 N/A Rate is based on adjusted invested assets CPA ® :17 – Global 0.5% - 1.75% 2013 and 2014 in shares of its common stock; 2015 50% in cash and 50% in shares of its common stock Rate depends on the type of investment and is based on the average market or average equity value, as applicable CPA ® :18 – Global 0.5% - 1.5% 2013, 2014, and 2015 in shares of its class A common stock Rate depends on the type of investment and is based on the average market or average equity value, as applicable CWI 1 0.5% 2013 and 2014 in shares of its common stock; 2015 in cash Rate is based on the average market value of the investment; we are required to pay 20% of the asset management revenue we receive to the subadvisor CWI 2 0.55% 2013 and 2014 N/A; 2015 in shares of its class A common stock Rate is based on the average market value of the investment; we are required to pay 25% of the asset management revenue we receive to the subadvisor CCIF 1.75% - 2.00% 2013 and 2014 N/A; 2015 in cash Based on the average of gross assets at fair value; we are required to pay 50% of the asset management revenue we receive to the subadvisor Structuring Revenue Under the terms of the advisory agreements, we earn revenue for structuring and negotiating investments and related financing for the Managed REITs. We do not earn any structuring revenue from the Managed BDCs. The following table presents a summary of our structuring fee arrangements with the Managed REITs: Managed Program Rate Payable Description CPA ® :17 – Global 1% - 1.75%, 4.5% In cash; for non net-lease investments, 1% - 1.75% upon completion; for net-lease investments, 2.5% upon completion, with 2% deferred and payable in three interest-bearing annual installments Based on the total aggregate cost of the net-lease investments made; also based on the total aggregate cost of the non net-lease investments made; total limited to 6% of the contract prices in aggregate CPA ® :18 – Global 4.5% In cash; for all investments other than readily marketable real estate securities for which we will not receive any acquisition fees, 2.5% upon completion, with 2% deferred and payable in three interest-bearing annual installments Based on the total aggregate cost of the investments made; total limited to 6% of the contract prices in aggregate CWI REITs 2.5% In cash upon completion Based on the total aggregate cost of the lodging investments made; loan refinancing transactions up to 1% of the principal amount; total limited to 6% of the contract prices in aggregate Reimbursable Costs from Affiliates The Managed Programs reimburse us for certain costs that we incur on their behalf, which consist primarily of broker-dealer commissions, marketing costs, an annual distribution and shareholder servicing fee, or Shareholder Servicing Fee, and certain personnel and overhead costs, as applicable. The following tables present summaries of such fee arrangements: Broker-Dealer Selling Commissions Managed Program Rate Payable Description CPA ® :18 – Global and CWI 2 Class A Shares, and CWI 1 Common Stock $0.70 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CPA ® :18 – Global Class C Shares $0.14 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CWI 2 Class T Shares $0.19 In cash upon share settlement; 100% re-allowed to broker-dealers Per share sold CCIF Feeder Funds 0% - 3% In cash upon share settlement; 100% re-allowed to broker-dealers Based on the selling price of each share sold Dealer Manager Fees Managed Program Rate Payable Description CPA ® :18 – Global and CWI 2 Class A Shares, and CWI 1 Common Stock $0.30 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CPA ® :18 – Global Class C Shares $0.21 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CWI 2 Class T Shares $0.26 Per share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers CCIF Feeder Funds 2.75% - 3.0% Based on the selling price of each share sold In cash upon share settlement; a portion may be re-allowed to broker-dealers Annual Distribution and Shareholder Servicing Fee Managed Program Rate Payable Description CPA ® :18 – Global Class C Shares 1.0% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the purchase price per share sold or, once reported, the NAV; cease paying when underwriting compensation from all sources equals 10% of gross offering proceeds CWI 2 Class T Shares 1.0% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the purchase price per share sold or, once reported, the NAV; limited to six years and 10% of gross offering proceeds Personnel and Overhead Costs Managed Program Payable Description CPA ® :17 – Global and CPA ® :18 – Global In cash Personnel and overhead costs, excluding those related to our legal transactions group, our senior management, and our investments team, are charged to the CPA ® REITs based on the average of the trailing 12-month aggregate reported revenues of the Managed REITs and us, and for 2015, are capped at 2.4% of each CPA ® REIT’s pro rata lease revenues; for the legal transactions group, costs are charged according to a fee schedule CWI 1 2013 N/A; 2014 in shares of its common stock; 2015 in cash Actual expenses incurred; allocated between the CWI REITs based on the percentage of their total pro rata hotel revenues for the most recently completed quarter CWI 2 2013 and 2014 N/A; 2015 in cash Actual expenses incurred; allocated between the CWI REITs based on the percentage of their total pro rata hotel revenues for the most recently completed quarter CCIF and CCIF Feeder Funds 2013 and 2014 N/A; 2015 in cash Actual expenses incurred Organization and Offering Costs Managed Program Payable Description CPA ® :18 – Global and CWI 2 In cash; within 60 days after the end of the quarter in which the offering terminates Actual costs incurred from 1.5% through 4.0% of the gross offering proceeds, depending on the amount raised CWI 1 In cash; within 60 days after the end of the quarter in which the offering terminates Actual costs incurred up to 4.0% of the gross offering proceeds CCIF and CCIF Feeder Funds In cash; payable monthly Up to 1.5% of the gross offering proceeds

Net Investments in Properties (

Net Investments in Properties (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Net Investments in Real Estate Properties	Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, and real estate under construction, is summarized as follows (in thousands): December 31, 2015 2014 Land $ 1,160,567 $ 1,146,704 Buildings 4,147,644 3,829,981 Real estate under construction 1,714 29,997 Less: Accumulated depreciation (372,735 ) (253,627 ) $ 4,937,190 $ 4,753,055 Operating real estate consisted of our investments in two hotels and two self-storage properties. Below is a summary of our Operating real estate (in thousands): December 31, 2015 2014 Land $ 6,578 $ 7,074 Buildings 76,171 77,811 Less: Accumulated depreciation (8,794 ) (4,866 ) $ 73,955 $ 80,019
Schedule of Future Minimum Rents	Scheduled future minimum rents, exclusive of renewals and expenses paid by tenants and future CPI-based adjustments under non-cancelable operating leases, at December 31, 2015 are as follows (in thousands): Years Ending December 31, Total 2016 $ 611,361 2017 600,116 2018 573,110 2019 527,494 2020 484,060 Thereafter 2,887,773 Total $ 5,683,914
Disclosure of Long Lived Assets Held-for-sale	Below is a summary of our properties held for sale (in thousands): December 31, 2015 2014 Real estate, net $ 59,046 $ 5,969 Above-market rent intangible assets, net — 838 In-place lease intangible assets, net — 448 Assets held for sale $ 59,046 $ 7,255

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Capital Leases Net Investment In Direct Financing Leases	Net investments in direct financing leases is summarized as follows (in thousands): December 31, 2015 2014 Minimum lease payments receivable $ 797,736 $ 904,788 Unguaranteed residual value 760,448 818,334 1,558,184 1,723,122 Less: unearned income (801,831 ) (906,896 ) $ 756,353 $ 816,226
Scheduled Future Minimum Rents	Scheduled future minimum rents, exclusive of renewals and expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable direct financing leases at December 31, 2015 are as follows (in thousands): Years Ending December 31, Total 2016 $ 75,613 2017 75,378 2018 75,449 2019 72,929 2020 72,390 Thereafter 425,977 Total $ 797,736
Finance Receivables Credit Quality Indicators	A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands): Number of Tenants / Obligors at December 31, Carrying Value at December 31, Internal Credit Quality Indicator 2015 2014 2015 2014 1 2 3 $ 90,818 $ 79,343 2 3 4 53,492 37,318 3 23 22 512,724 592,631 4 6 7 110,002 127,782 5 — — — — $ 767,036 $ 837,074

Equity Investments in the Man40

Equity Investments in the Managed Programs and Real Estate (Tables)	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following table presents Equity in earnings of equity method investments in the Managed Programs and real estate, which represents our proportionate share of the income or losses of these investments, as well as certain adjustments related to other-than-temporary impairment charges and amortization of basis differences related to purchase accounting adjustments (in thousands): Years Ended December 31, 2015 2014 2013 Distributions of Available Cash ( Note 4 ) $ 38,406 $ 31,052 $ 34,121 Amortization of basis differences on equity investments in the Managed Programs (806 ) (810 ) (5,115 ) Proportionate share of (losses) earnings from equity investments in the Managed Programs (454 ) 2,425 7,057 Deferred revenue earned ( Note 4 ) — 786 9,436 Other-than-temporary impairment charges on the Special Member Interest in CPA ® :16 – Global’s operating partnership — (735 ) (15,383 ) Total equity earnings from the Managed Programs 37,146 32,718 30,116 Equity earnings from other equity investments 17,559 14,828 26,928 Amortization of basis differences on other equity investments (3,685 ) (3,430 ) (4,313 ) Equity in earnings of equity method investments in the Managed Programs and real estate $ 51,020 $ 44,116 $ 52,731 The following table sets forth certain information about our investments in the Managed Programs (dollars in thousands): % of Outstanding Shares Owned at Carrying Amount of Investment at December 31, December 31, Fund 2015 2014 2015 2014 CPA ® :17 – Global 3.087 % 2.676 % $ 87,912 $ 79,429 CPA ® :17 – Global operating partnership 0.009 % 0.009 % — — CPA ® :18 – Global 0.735 % 0.221 % 9,279 2,784 CPA ® :18 – Global operating partnership 0.034 % 0.034 % 209 209 CWI 1 1.131 % 1.088 % 12,619 13,940 CWI 1 operating partnership 0.015 % 0.015 % — — CWI 2 0.379 % — % 949 — CWI 2 operating partnership 0.015 % — % 300 — CCIF 47.882 % 50.000 % 22,214 25,000 $ 133,482 $ 121,362 The following table sets forth our ownership interests in our equity investments in real estate, excluding the Managed Programs, and their respective carrying values (dollars in thousands): Ownership Interest at Carrying Value at December 31, Lessee Co-owner December 31, 2015 2015 2014 Existing Equity Investments (a) Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH CPA ® :17 – Global 33% $ 9,507 $ 6,949 C1000 Logistiek Vastgoed B.V. CPA ® :17 – Global 15% 9,381 11,192 Wanbishi Archives Co. Ltd. CPA ® :17 – Global 3% 335 341 19,223 18,482 Equity Investments Acquired in the CPA ® :16 Merger The New York Times Company CPA ® :17 – Global 45% 70,976 72,476 Frontier Spinning Mills, Inc. CPA ® :17 – Global 40% 24,288 15,609 Actebis Peacock GmbH CPA ® :17 – Global 30% 12,186 6,369 107,450 94,454 Recently Acquired Equity Investment Beach House JV, LLC Third Party N/A 15,318 15,105 $ 141,991 $ 128,041 __________ (a) Represents equity investments we acquired prior to January 1, 2013. The following tables present estimated combined summarized financial information for the Managed Programs. Amounts provided are expected total amounts attributable to the Managed Programs and do not represent our proportionate share (in thousands): December 31, 2015 2014 Real estate, net $ 6,886,709 $ 5,969,011 Other assets 2,426,189 2,293,065 Total assets 9,312,898 8,262,076 Debt (4,432,082 ) (3,387,795 ) Accounts payable, accrued expenses and other liabilities (612,974 ) (496,857 ) Total liabilities (5,045,056 ) (3,884,652 ) Noncontrolling interests (253,020 ) (170,249 ) Stockholders’ equity $ 4,014,822 $ 4,207,175 Years Ended December 31, 2015 2014 2013 Revenues $ 1,157,432 $ 825,405 $ 796,637 Expenses (1,120,090 ) (816,630 ) (669,554 ) Income from continuing operations $ 37,342 $ 8,775 $ 127,083 Net (loss) income attributable to the Managed Programs (a) (b) $ (6,450 ) $ (12,695 ) $ 104,342 __________ (a) Inclusive of impairment charges recognized by the Managed Programs totaling $1.0 million , $1.3 million , and $25.6 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively. These impairment charges reduced our income earned from these investments by less than $0.1 million , less than $0.1 million , and $4.7 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) Amounts included net gains on sale of real estate recorded by the Managed REITs totaling $8.9 million , $13.3 million , and $7.7 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. These net gains on sale of real estate increased our income earned from these investments by $0.1 million , $0.4 million , and $0.1 million during the years ended December 31, 2015 , 2014 , and 2013 , respectively The following tables present combined summarized financial information of our equity investments, excluding the Managed Programs. Amounts provided are the total amounts attributable to the investments and do not represent our proportionate share (in thousands): December 31, 2015 2014 Real estate, net $ 464,730 $ 486,858 Other assets 64,989 81,232 Total assets 529,719 568,090 Debt (201,611 ) (278,012 ) Accounts payable, accrued expenses and other liabilities (9,394 ) (10,057 ) Total liabilities (211,005 ) (288,069 ) Noncontrolling interests (355 ) (355 ) Stockholders’ equity $ 318,359 $ 279,666 Years Ended December 31, 2015 2014 2013 Revenues $ 61,887 $ 64,294 $ 117,278 Expenses (21,124 ) (27,801 ) (50,907 ) Income from continuing operations $ 40,763 $ 36,493 $ 66,371 Net income attributable to the jointly-owned investments $ 40,763 $ 36,493 $ 15,762

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Liabilities Disclosure [Abstract]
Schedule Of Acquired Finite Lived Intangible Assets Liabilities By Major Class	In connection with our investment activity during 2015 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 13.4 $ 92,012 Above-market rent 15.3 32,739 Below-market ground lease 63.1 9,997 Indefinite-Lived Intangible Asset Below-market ground lease N/A 881 $ 135,629 Amortizable Intangible Liabilities Below-market rent 14.6 $ (6,798 )
Schedule Of Goodwill	The following table presents a reconciliation of our goodwill (in thousands): Real Estate Ownership Investment Management Total Balance at January 1, 2013 $ 265,525 $ 63,607 $ 329,132 Adjustments related to deferred foreign income taxes (a) 32,715 — 32,715 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (13,118 ) — (13,118 ) Adjustment to purchase price allocation for the CPA ® :15 Merger (b) 1,479 — 1,479 Balance at December 31, 2013 286,601 63,607 350,208 Acquisition of CPA ® :16 – Global 346,642 — 346,642 Foreign currency translation adjustments and other (14,258 ) — (14,258 ) Other business combinations (c) 13,585 — 13,585 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (3,762 ) — (3,762 ) Balance at December 31, 2014 628,808 63,607 692,415 Foreign currency translation adjustments and other (10,548 ) — (10,548 ) Allocation of goodwill to the cost basis of properties sold or classified as held for sale (1,762 ) — (1,762 ) Other business combinations 1,704 — 1,704 Balance at December 31, 2015 $ 618,202 $ 63,607 $ 681,809 ___________ (a) In 2013, we identified an error in the consolidated financial statements related to accounting for deferred foreign income taxes. W e concluded that this adjustment was not material to our financial position or results of operations for 2013 or any of the prior periods. As such, in the fourth quarter of 2013 we recorded an out-of-period adjustment related to the error, which included an adjustment to goodwill. (b) In the fourth quarter of 2013, we recorded an immaterial out-of-period adjustment to correct the purchase price allocation for the CPA ® :15 Merger. (c) Primarily relates to acquisition of an investment in Norway ( Note 5 ).
Schedule Of Intangible Assets And Goodwill	Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands): December 31, 2015 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets Management contracts $ 32,765 $ (32,765 ) $ — $ 32,765 $ (32,765 ) $ — Internal-use software development costs 18,188 (2,038 ) 16,150 17,584 (26 ) 17,558 50,953 (34,803 ) 16,150 50,349 (32,791 ) 17,558 Lease Intangibles: In-place lease and tenant relationship 1,205,585 (302,737 ) 902,848 1,185,692 (191,873 ) 993,819 Above-market rent 649,035 (173,963 ) 475,072 639,370 (116,573 ) 522,797 Below-market ground lease 25,403 (889 ) 24,514 17,771 (435 ) 17,336 1,880,023 (477,589 ) 1,402,434 1,842,833 (308,881 ) 1,533,952 Unamortizable Goodwill and Indefinite-Lived Intangible Assets Goodwill 681,809 — 681,809 692,415 — 692,415 Trade name 3,975 — 3,975 3,975 — 3,975 Below-market ground lease 895 — 895 — — — 686,679 — 686,679 696,390 — 696,390 Total intangible assets $ 2,617,655 $ (512,392 ) $ 2,105,263 $ 2,589,572 $ (341,672 ) $ 2,247,900 Amortizable Intangible Liabilities Below-market rent $ (171,199 ) $ 44,873 $ (126,326 ) $ (169,231 ) $ 23,039 $ (146,192 ) Above-market ground lease (13,052 ) 1,774 (11,278 ) (13,311 ) 1,144 (12,167 ) (184,251 ) 46,647 (137,604 ) (182,542 ) 24,183 (158,359 ) Unamortizable Intangible Liabilities Below-market purchase option (16,711 ) — (16,711 ) (16,711 ) — (16,711 ) Total intangible liabilities $ (200,962 ) $ 46,647 $ (154,315 ) $ (199,253 ) $ 24,183 $ (175,070 )
Schedule Of Finite Lived Intangible Assets Future Amortization Expense	Based on the intangible assets and liabilities recorded at December 31, 2015 , scheduled annual net amortization of intangibles for each of the next five calendar years and thereafter is as follows (in thousands): Years Ending December 31, Net Decrease in Lease Revenues Increase to Amortization/ Property Expenses Total 2016 $ 36,464 $ 125,954 $ 162,418 2017 51,494 103,062 154,556 2018 48,639 99,392 148,031 2019 44,715 90,574 135,289 2020 37,053 82,126 119,179 Thereafter 130,381 431,126 561,507 Total $ 348,746 $ 932,234 $ 1,280,980

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule Of Other Financial Instruments In Carrying Values And Fair Values	Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): December 31, 2015 December 31, 2014 Level Carrying Value Fair Value Carrying Value Fair Value Non-recourse debt, net (a) 3 $ 2,271,204 $ 2,293,542 $ 2,532,683 $ 2,574,437 Senior Unsecured Notes, net (b) 2 1,486,568 1,459,544 498,345 527,029 Senior Unsecured Credit Facility (c) 2 735,021 735,022 1,057,518 1,057,519 Deferred acquisition fees receivable (d) 3 33,386 32,919 26,913 28,027 Notes receivable (a) 3 10,689 10,610 20,848 19,604 __________ (a) We determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, where applicable, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity and the current market interest rate. (b) We determined the estimated fair value of the Senior Unsecured Notes ( Note 11 ) using quoted market prices in an open market with limited trading volume where available. In cases where there was no trading volume, we determined the estimated fair value using a discounted cash flow model using a rate that reflects the average yield of similar market participants. (c) We determined the estimated fair value of our Senior Unsecured Credit Facility ( Note 11 ) using a discounted cash flow model with rates that take into account the market-based credit spread and our credit rating. (d) We determined the estimated fair value of our deferred acquisition fees receivable based on an estimate of discounted cash flows using two significant unobservable inputs, which are the leverage adjusted unsecured spread of 203 - 213 basis points and an illiquidity adjustment of 75 basis points at December 31, 2015 . Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement.
Schedule Of Fair Value Impairment Charges Using Unobservable Inputs Nonrecurring Basis	The following table presents information about our other assets that were measured at fair value on a non-recurring basis (in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Fair Value Total Impairment Impairment Charges in Continuing Operations Real estate $ 63,027 $ 26,597 $ 26,503 $ 21,738 $ 15,495 $ 4,673 Net investments in direct financing leases 65,132 3,309 39,158 1,329 891 68 Equity investments in real estate — — — 735 5,111 19,256 Marketable security — — — — 483 553 29,906 23,802 24,550 Impairment Charges in Discontinued Operations Real estate — — — — 19,413 6,192 Operating real estate — — — — 3,709 1,071 — — 7,263 $ 29,906 $ 23,802 $ 31,813

Risk Management and Use of De43

Risk Management and Use of Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth certain information regarding our derivative instruments (in thousands): Derivatives Designated as Hedging Instruments Balance Sheet Location Asset Derivatives Fair Value at Liability Derivatives Fair Value at December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 Foreign currency forward contracts Other assets, net $ 38,975 $ 16,307 $ — $ — Foreign currency collars Other assets, net 7,718 — — — Interest rate swaps Other assets, net — 285 — — Interest rate cap Other assets, net — 3 — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (4,762 ) (5,660 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 3,618 3,753 — — Interest rate swaps (a) Other assets, net 9 — — — Interest rate swaps (a) Accounts payable, accrued expenses and other liabilities — — (2,612 ) (7,496 ) Total derivatives $ 50,320 $ 20,348 $ (7,374 ) $ (13,156 ) __________ (a) These interest rate swaps do not qualify for hedge accounting; however, they do protect against fluctuations in interest rates related to the underlying variable-rate debt.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following tables present the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of (Loss) Gain Recognized on Derivatives in Other Comprehensive (Loss) Income (Effective Portion) (a) Years Ended December 31, Derivatives in Cash Flow Hedging Relationships 2015 2014 2013 Foreign currency forward contracts $ 15,949 $ 23,167 $ (5,211 ) Foreign currency collars 7,769 — — Interest rate swaps (284 ) (2,628 ) 4,720 Interest rate caps 64 290 (15 ) Derivatives in Net Investment Hedging Relationships (b) Foreign currency forward contracts 5,819 2,566 — Total $ 29,317 $ 23,395 $ (506 ) Amount of (Loss) Gain on Derivatives Reclassified from Other Comprehensive (Loss) Income (Effective Portion) (c) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2015 2014 2013 Foreign currency forward contracts Other income and (expenses) $ 7,272 $ (103 ) $ (537 ) Interest rate swaps and caps Interest expense (2,291 ) (2,691 ) (1,745 ) Foreign currency collars Other income and (expenses) 357 — — Total $ 5,338 $ (2,794 ) $ (2,282 ) __________ (a) Excludes net gains of $0.6 million , $0.3 million , and $0.5 million recognized on unconsolidated jointly-owned investments for the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) The effective portion of the change in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of Other comprehensive (loss) income until the underlying investment is sold, at which time we reclassify the gain or loss to earnings. (c) Excludes net gains recognized on unconsolidated jointly-owned investments of $0.4 million and $0.5 million for the years ended December 31, 2014 and 2013 , respectively. There were no such gains or losses recognized for the year ended December 31, 2015 .
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	Amount of Gain (Loss) on Derivatives Recognized in Income Derivatives Not in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2015 2014 2013 Interest rate swaps Interest expense $ 4,164 $ 3,186 $ 5,249 Foreign currency collars Other income and (expenses) 514 — — Foreign currency forwards Other income and (expenses) (296 ) — — Stock warrants Other income and (expenses) (134 ) 134 440 Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 649 761 (20 ) Foreign currency forward contracts Other income and (expenses) 45 — — Foreign currency collars Other income and (expenses) 23 — — Total $ 4,965 $ 4,081 $ 5,669 __________ (a) Relates to the ineffective portion of the hedging relationship.
Schedule of Derivative Instruments	The interest rate swaps and cap that our consolidated subsidiaries had outstanding at December 31, 2015 are summarized as follows (currency in thousands): Number of Instruments Notional Amount Fair Value of (a) Interest Rate Derivatives Designated as Cash Flow Hedging Instruments Interest rate swaps 13 122,159 USD $ (4,154 ) Interest rate swap 1 6,011 EUR (608 ) Interest rate cap (b) 1 41,372 EUR — Not Designated as Cash Flow Hedging Instruments Interest rate swaps (c) 2 105,110 EUR (2,612 ) Interest rate swap (c) 1 3,127 USD 9 $ (7,365 ) __________ (a) Fair value amounts are based on the exchange rate of the euro at December 31, 2015 , as applicable. (b) The applicable interest rate of the related debt was 0.9% , which was below the strike price of the cap of 3.0% at December 31, 2015 . (c) These interest rate swaps do not qualify for hedge accounting; however, they do protect against fluctuations in interest rates related to the underlying variable-rate debt. The following table presents the foreign currency derivative contracts we had outstanding at December 31, 2015 , which were designated as cash flow hedges (currency in thousands): Number of Instruments Notional Fair Value at December 31, 2015 (a) Foreign Currency Derivatives Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 52 127,747 EUR $ 27,754 Foreign currency collars 25 90,100 EUR 4,441 Foreign currency collars 22 48,300 GBP 3,277 Foreign currency forward contracts 16 20,302 AUD 2,258 Foreign currency forward contracts 12 6,420 GBP 578 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 5 84,522 AUD 8,385 $ 46,693 __________ (a) Fair value amounts are based on the applicable exchange rate of the foreign currency at December 31, 2015 .

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following table presents a summary of our Senior Unsecured Credit Facility (dollars in millions): Interest Rate at December 31, 2015 (a) Outstanding Balance at December 31, Senior Unsecured Credit Facility Maturity Date 2015 2014 Revolver: Revolver - borrowing in euros LIBOR + 1.10% 1/31/2018 $ 393.0 $ 419.4 Revolver - borrowing in U.S. dollars (b) LIBOR + 1.10%; EURIBOR + 1.10% 1/31/2018 92.0 326.0 Revolver - borrowing in British pounds sterling N/A 1/31/2018 — 62.1 485.0 807.5 Term Loan Facility (c) LIBOR + 1.25% 1/31/2016 250.0 250.0 $ 735.0 $ 1,057.5 __________ (a) Interest rate at December 31, 2015 is based on our credit rating of BBB/Baa2 . (b) EURIBOR means Euro Interbank Offered Rate. (c) Our Term Loan Facility was scheduled to mature on January 31, 2016. However, on January 29, 2016, we exercised our option to extend the maturity of our Term Loan Facility by an additional year to January 31, 2017 ( Note 19 ).
Schedule of Debt	The following table presents a summary of our Senior Unsecured Notes (currency in millions): Carrying Value at December 31, Senior Unsecured Notes Issue Date Principal Amount Price of Par Value Discount Effective Interest Rate Coupon Rate Maturity Date 2015 2014 4.6% Senior Notes 3/14/2014 $ 500.0 99.639 % $ 1.8 4.645 % 4.6 % 4/1/2024 $ 496.0 $ 498.3 2.0% Senior Euro Notes 1/21/2015 € 500.0 99.220 % $ 4.6 2.107 % 2.0 % 1/20/2023 540.6 — 4.0% Senior Notes 1/26/2015 $ 450.0 99.372 % $ 2.8 4.077 % 4.0 % 2/1/2025 450.0 — $ 1,486.6 $ 498.3 Scheduled debt principal payments during each of the next five calendar years following December 31, 2015 and thereafter are as follows (in thousands): Years Ending December 31, Total (a) 2016 $ 648,344 2017 697,749 2018 750,932 2019 99,753 2020 218,995 Thereafter through 2038 2,080,575 4,496,348 Unamortized discount, net (b) (3,555 ) Total $ 4,492,793 __________ (a) Certain amounts are based on the applicable foreign currency exchange rate at December 31, 2015 . (b) Represents the unamortized discount on the Senior Unsecured Notes of $7.8 million partially offset by unamortized premium of $4.2 million in the aggregate resulting from the assumption of property-level debt in connection with the CPA ® :15 Merger and CPA ® :16 Merger.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Schedule Of Distributions Paid Per Share For Tax	The following table presents distributions per share, declared and paid during the years ended December 31, 2015 and 2014 , reported for federal tax purposes and serves as a designation of capital gain distributions, if applicable, pursuant to Internal Revenue Code Section 857(b)(3)(C) and Treasury Regulation § 1.857-6(e): Distributions Paid During the Years Ended December 31, 2015 2014 2013 Ordinary income $ 3.5497 $ 3.6566 $ 3.1701 Return of capital 0.2618 0.0584 0.0099 Total distributions paid $ 3.8115 $ 3.7150 $ 3.1800
Earnings Per Share Reconciliation	The following table summarizes basic and diluted earnings (in thousands, except share amounts): Years Ended December 31, 2015 2014 2013 Net income attributable to W. P. Carey $ 172,258 $ 239,826 $ 98,876 Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income (579 ) (1,007 ) (743 ) Net income – basic 171,679 238,819 98,133 Income effect of dilutive securities, net of taxes — (77 ) 187 Net income – diluted $ 171,679 $ 238,742 $ 98,320 Weighted-average shares outstanding – basic 105,675,692 98,764,164 68,691,046 Effect of dilutive securities 831,960 1,063,192 1,016,962 Weighted-average shares outstanding – diluted 106,507,652 99,827,356 69,708,008
Redeemable Noncontrolling Interest	The following table presents a reconciliation of redeemable noncontrolling interest (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ 6,071 $ 7,436 $ 7,531 Redemption value adjustment 8,873 (306 ) — Net income — (142 ) 353 Distributions — (926 ) (435 ) Change in other comprehensive income — 9 (13 ) Ending balance $ 14,944 $ 6,071 $ 7,436
Transfers to Noncontrolling Interests	The following table presents a reconciliation of the effect of transfers in noncontrolling interest (in thousands): Years Ended December 31, 2015 2014 2013 Net income attributable to W. P. Carey $ 172,258 $ 239,826 $ 98,876 Transfers to noncontrolling interest Decrease in W. P. Carey’s additional paid-in capital for purchases of less-than-wholly-owned investments in connection with the CPA ® :16 Merger — (41,374 ) — Net transfers to noncontrolling interest — (41,374 ) — Change from net income attributable to W. P. Carey and transfers to noncontrolling interest $ 172,258 $ 198,452 $ 98,876
Reclassification out of Accumulated Other Comprehensive Income	The following tables present a reconciliation of changes in Accumulated other comprehensive (loss) income by component for the periods presented (in thousands): Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Gains and Losses on Marketable Securities Total Balance at January 1, 2013 $ (7,508 ) $ 2,828 $ 31 $ (4,649 ) Other comprehensive income (loss) before reclassifications (2,793 ) 21,835 — 19,042 Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 1,745 — — 1,745 Other income and (expenses) 537 — — 537 Equity in earnings of equity method investments in the Managed Programs and real estate 531 — — 531 Total 2,813 — — 2,813 Net current period other comprehensive income (loss) 20 21,835 — 21,855 Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest — (1,870 ) — (1,870 ) Balance at December 31, 2013 (7,488 ) 22,793 $ 31 $ 15,336 Other comprehensive income (loss) before reclassifications 17,911 (117,938 ) (10 ) (100,037 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,691 — — 2,691 Other income and (expenses) 103 — — 103 Equity in earnings of equity method investments in the Managed Programs and real estate 380 — — 380 Total 3,174 — — 3,174 Net current period other comprehensive income (loss) 21,085 (117,938 ) (10 ) (96,863 ) Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest — 5,968 — 5,968 Balance at December 31, 2014 13,597 (89,177 ) 21 (75,559 ) Other comprehensive income (loss) before reclassifications 29,391 (125,447 ) 15 (96,041 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,291 — — 2,291 Other income and (expenses) (7,629 ) — — (7,629 ) Total (5,338 ) — — (5,338 ) Net current period other comprehensive (loss) income 24,053 (125,447 ) 15 (101,379 ) Net current period other comprehensive gain attributable to noncontrolling interests — 4,647 — 4,647 Balance at December 31, 2015 $ 37,650 $ (209,977 ) $ 36 $ (172,291 )

Stock-Based Compensation and 46

Stock-Based Compensation and Other Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted and Conditional Award Activity	Nonvested RSAs, RSUs, and PSUs at December 31, 2015 and changes during the years ended December 31, 2015 , 2014 , and 2013 were as follows: RSA and RSU Awards PSU Awards Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Nonvested at January 1, 2013 594,194 $ 37.15 999,513 $ 34.55 Granted 185,015 57.69 86,189 84.33 Vested (a) (233,098 ) 36.76 (324,161 ) 39.48 Forfeited (26,503 ) 43.05 (30,108 ) 50.52 Adjustment (b) — — 489,287 67.22 Nonvested at December 31, 2013 519,608 45.19 1,220,720 28.28 Granted 188,619 61.08 89,653 76.05 Vested (a) (264,724 ) 43.35 (881,388 ) 51.00 Forfeited (1,001 ) 59.45 (78 ) 54.31 Adjustment (b) — — 448,734 55.91 Nonvested at December 31, 2014 442,502 53.03 877,641 32.06 Granted (c) 189,893 69.92 75,277 83.68 Vested (a) (264,628 ) 49.69 (792,465 ) 56.77 Forfeited (10,996 ) 66.46 — — Adjustment (b) — — 179,905 49.70 Nonvested at December 31, 2015 (d) 356,771 $ 64.09 340,358 $ 52.26 __________ (a) The total fair value of shares vested during the years ended December 31, 2015 , 2014 , and 2013 was $58.1 million , $56.4 million , and $21.4 million , respectively. Employees have the option to take immediate delivery of the shares upon vesting or defer receipt to a future date, pursuant to previously-made deferral elections. At December 31, 2015 and 2014 , we had an obligation to issue 1,395,907 and 848,788 shares, respectively, of our common stock underlying such deferred awards, which is recorded within W. P. Carey stockholders’ equity as a Deferred compensation obligation of $55.0 million and $29.6 million , respectively. (b) Vesting and payment of the PSUs is conditioned upon certain company and market performance goals being met during the relevant three-year performance period. The ultimate number of PSUs to be vested will depend on the extent to which the performance goals are met and can range from zero to three times the original awards. As a result, we recorded adjustments to reflect the number of shares expected to be issued when the PSUs vest. (c) The grant date fair values of RSAs and RSUs reflect our stock price on the date of grant. The grant date fair value of PSUs was determined utilizing a Monte Carlo simulation model to generate a range of possible future stock prices for both us and the plan defined peer index over the three-year performance period. To estimate the fair value of PSUs granted during the year ended December 31, 2015 , we used a risk-free interest rate of 1.0% and an expected volatility rate of 20.2% (the plan defined peer index assumes 13.5% ) and assumed a dividend yield of zero . (d) At December 31, 2015 , total unrecognized compensation expense related to these awards was approximately $20.1 million , with an aggregate weighted-average remaining term of 1.7 years
Schedule of Share Based Compensation Stock Option Activity	Option activity and changes for all periods presented were as follows: Year Ended December 31, 2015 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding – beginning of year 475,765 $ 29.95 Exercised (213,479 ) 28.57 Canceled / Expired (3,499 ) 28.71 Outstanding – end of year 258,787 $ 31.10 1.06 $ 7,220,287 Vested and expected to vest – end of year 258,787 $ 31.10 1.06 $ 7,220,287 Exercisable – end of year 236,112 $ 30.99 0.99 $ 6,613,542 Years Ended December 31, 2014 2013 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Outstanding – beginning of year 619,601 $ 30.30 794,210 $ 30.32 Exercised (140,718 ) 31.41 (169,412 ) 30.43 Canceled / Expired (3,118 ) 32.99 (5,197 ) 29.84 Outstanding – end of year 475,765 $ 29.95 1.75 619,601 $ 30.30 2.59 Exercisable – end of year 421,656 $ 29.75 511,811 $ 30.18

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of our provision for income taxes attributable to continuing operations for the periods presented are as follows (in thousands): Years Ended December 31, 2015 2014 2013 Federal Current $ 10,551 $ 19,545 $ 8,274 Deferred 1,901 (7,609 ) (13,029 ) 12,452 11,936 (4,755 ) State and Local Current 9,075 13,422 4,970 Deferred 1,158 (4,693 ) (3,665 ) 10,233 8,729 1,305 Foreign Current 16,656 6,869 7,144 Deferred (1,720 ) (9,925 ) (2,442 ) 14,936 (3,056 ) 4,702 Total Provision $ 37,621 $ 17,609 $ 1,252
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the provision for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the year ended December 31, 2015 is as follows (in thousands, except percentages): Year Ended December 31, 2015 Income from continuing operations before income taxes, net of amounts attributable to noncontrolling interests $ 209,879 Pre-tax income attributable to pass-through subsidiaries (137,536 ) Pre-tax income attributable to taxable subsidiaries $ 72,343 Federal provision at statutory tax rate (35%) $ 25,244 35.0 % Rate differential (10,589 ) (14.6 )% Change in valuation allowance 9,074 12.5 % Non-deductible expense 6,982 9.6 % State and local taxes, net of federal benefit 6,151 8.4 % Exempt income (5,475 ) (7.6 )% Other 1,053 1.5 % Tax provision — taxable subsidiaries 32,440 44.8 % Non-income taxes 5,181 Total provision $ 37,621 A reconciliation of the provision for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the periods presented is as follows (in thousands, except percentages): Years Ended December 31, 2014 2013 Income from continuing operations before income taxes, net of amounts attributable to noncontrolling interests $ 223,938 $ 85,889 Pre-tax income attributable to pass-through subsidiaries (202,807 ) (96,314 ) Pre-tax income (loss) attributable to taxable subsidiaries $ 21,131 $ (10,425 ) Federal provision at statutory tax rate (35%) $ 7,396 35.0 % $ (3,649 ) (35.0 )% Recognition of taxable income as a result of the CPA ® :16 Merger (a) 4,833 22.9 % — — % State and local taxes, net of federal benefit 2,296 10.9 % (166 ) (1.6 )% Interest 2,111 10.0 % — — % Dividend income from Managed REITs 939 4.4 % — — % Amortization of intangible assets — — % 492 4.7 % Other 893 4.2 % (302 ) (2.9 )% Tax provision — taxable subsidiaries 18,468 87.4 % (3,625 ) (34.8 )% Deferred foreign tax benefit (b) (9,925 ) (2,442 ) Current foreign taxes 6,869 7,144 Other state and local taxes 2,197 175 Total provision $ 17,609 $ 1,252 __________ (a) Represents income tax expense due to a permanent difference from the recognition of deferred revenue as a result of the accelerated vesting of shares previously issued by CPA ® :16 – Global for asset management and performance fees and the payment of deferred acquisition fees in connection with the CPA ® :16 Merger. (b) Represents deferred tax benefit associated with basis differences on certain foreign properties acquired.
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes at December 31, 2015 and 2014 consist of the following (in thousands): At December 31, 2015 2014 Deferred Tax Assets Unearned and deferred compensation $ 35,525 $ 36,955 Net operating loss carryforwards 19,553 16,627 Basis differences — foreign investments 6,975 6,576 Other 3,788 3,272 Total deferred tax assets 65,841 63,430 Valuation allowance (29,746 ) (20,672 ) Net deferred tax assets 36,095 42,758 Deferred Tax Liabilities Basis differences — foreign investments (81,058 ) (95,619 ) Basis differences — equity investees (19,925 ) (19,044 ) Deferred revenue (8,654 ) (8,546 ) Total deferred tax liabilities (109,637 ) (123,209 ) Net Deferred Tax Liability $ (73,542 ) $ (80,451 )
Unrecognized Tax Benefits	The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits (in thousands): Years Ended December 31, 2015 2014 Beginning balance $ 2,055 $ 109 Addition based on tax positions related to the current year 1,510 1,946 Addition based on tax positions related to prior years 1,447 — Decrease due to lapse in statute of limitations (572 ) — Foreign currency translation adjustments (136 ) — Ending balance $ 4,304 $ 2,055

Property Dispositions and Dis48

Property Dispositions and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures	The results of operations for properties that have been classified as held for sale or have been sold prior to January 1, 2014 and the properties that were acquired as held for sale in the CPA ® :16 Merger are reflected in the consolidated financial statements as discontinued operations, net of tax and are summarized as follows (in thousands): Years Ended December 31, 2015 2014 2013 Revenues $ — $ 8,931 $ 28,951 Expenses — (2,039 ) (19,984 ) Loss on extinguishment of debt — (1,244 ) (2,415 ) Gain on sale of real estate — 27,670 40,043 Impairment charges — — (8,415 ) Income from discontinued operations $ — $ 33,318 $ 38,180 The results of operations for properties that have been sold or classified as held for sale that did not qualify for discontinued operations are included within continuing operations in the consolidated financial statements and are summarized as follows (in thousands): Years Ended December 31, 2015 2014 2013 Revenues $ 32,416 $ 21,427 $ 15,762 Expenses (19,306 ) (17,707 ) (15,872 ) Gain (loss) on sale of real estate 6,487 1,338 (332 ) Impairment charges (4,071 ) (8,537 ) (4,741 ) (Loss) gain on extinguishment of debt (3,179 ) — 113 (Provision for) benefit from income taxes (227 ) 1,347 465 Income (loss) from continuing operations from properties sold or classified as held for sale, net of income taxes (a) $ 12,120 $ (2,132 ) $ (4,605 ) __________ (a) Amounts for the years ended December 31, 2014 and 2013 included net losses of $0.1 million and $2.7 million , respectively, attributable to noncontrolling interests.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following tables present the geographic information (in thousands): Years Ended December 31, 2015 2014 2013 Domestic Revenues $ 468,703 $ 426,578 $ 218,758 Operating expenses (296,265 ) (284,362 ) (126,493 ) Interest expense (153,219 ) (117,603 ) (65,970 ) Other income and expenses, excluding interest expense 50,891 146,156 88,593 (Provision for) benefit from income taxes (6,219 ) (3,238 ) 13 Gain (loss) on sale of real estate, net of tax 2,941 (5,119 ) (332 ) Net income attributable to noncontrolling interests (5,358 ) (4,233 ) (34,321 ) Net (loss) income attributable to noncontrolling interests in discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 61,474 $ 158,000 $ 104,189 Germany Revenues $ 65,777 $ 72,978 $ 20,221 Operating benefits (expenses) (a) 818 (40,847 ) (3,011 ) Interest expense (15,432 ) (18,880 ) (5,020 ) Other income and expenses, excluding interest expense 4,175 (10,698 ) (29,284 ) (Provision for) benefit from income taxes (4,357 ) 3,163 (1,693 ) Gain on sale of real estate, net of tax 21 — — Net income attributable to noncontrolling interests (5,537 ) (1,017 ) (3,188 ) Income (loss) from continuing operations attributable to W. P. Carey $ 45,465 $ 4,699 $ (21,975 ) Other International Revenues $ 200,968 $ 145,827 $ 76,986 Operating expenses (131,367 ) (79,465 ) (49,458 ) Interest expense (25,675 ) (41,639 ) (32,738 ) Other income and expenses, excluding interest expense (142 ) 100 1,842 (Provision for) benefit from income taxes (7,372 ) 991 (3,023 ) Gain on sale of real estate, net of tax 3,525 6,700 — Net (income) loss attributable to noncontrolling interests (66 ) (323 ) 4,453 Income (loss) from continuing operations attributable to W. P. Carey $ 39,871 $ 32,191 $ (1,938 ) Total Revenues $ 735,448 $ 645,383 $ 315,965 Operating expenses (426,814 ) (404,674 ) (178,962 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense 54,924 135,558 61,151 (Provision for) benefit from income taxes (17,948 ) 916 (4,703 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (10,961 ) (5,573 ) (33,056 ) Net (loss) income attributable to noncontrolling interests in discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 146,810 $ 194,890 $ 80,276 (a) Included in revenues and operating expenses are reimbursable tenant and affiliate costs totaling $78.7 million , $155.1 million , and $86.9 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. (b) Amount for the year ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes (Note 7) , which is reflected in Merger, property acquisition, and other expenses in the consolidated financial statements. Amount for the years ended December 31, 2014 and 2013 includes expenses incurred of $30.5 million and $5.0 million , respectively, related to the CPA ® :16 Merger. (c) Includes Stock-based compensation expense of $21.6 million , $31.1 million , and $37.2 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, of which $13.8 million , $18.4 million , and $30.0 million , respectively, were included in the Investment Management segment. (d) Includes expenses related to our review of strategic alternatives of $5.7 million for the year ended December 31, 2015 , of which $2.1 million was included in the Investment Management segment. (e) Amount for the year ended December 31, 2014 includes a net Gain on change in control of interests of $105.9 million recognized in connection with the CPA ® :16 Merger ( Note 3 ). The following tables present a summary of comparative results and assets for these business segments (in thousands): Years Ended December 31, 2015 2014 2013 Real Estate Ownership Revenues (a) $ 735,448 $ 645,383 $ 315,965 Operating expenses (a) (b) (c) (d) (426,814 ) (404,674 ) (178,962 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense (e) 54,924 135,558 61,151 (Provision for) benefit from income taxes (17,948 ) 916 (4,703 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (10,961 ) (5,573 ) (33,056 ) Net (loss) income attributable to noncontrolling interests of discontinued operations — (179 ) 23,941 Income from continuing operations attributable to W. P. Carey $ 146,810 $ 194,890 $ 80,276 Investment Management Revenues (a) $ 202,935 $ 263,063 $ 173,886 Operating expenses (a) (c) (d) (154,015 ) (232,704 ) (173,744 ) Other income and expenses, excluding interest expense (1,791 ) 275 1,001 (Provision for) benefit from income taxes (19,673 ) (18,525 ) 3,451 Net (income) loss attributable to noncontrolling interests (2,008 ) (812 ) 120 Net loss (income) attributable to redeemable noncontrolling interests — 142 (353 ) Income from continuing operations attributable to W. P. Carey $ 25,448 $ 11,439 $ 4,361 Total Company Revenues (a) $ 938,383 $ 908,446 $ 489,851 Operating expenses (a) (b) (c) (d) (580,829 ) (637,378 ) (352,706 ) Interest expense (194,326 ) (178,122 ) (103,728 ) Other income and expenses, excluding interest expense (e) 53,133 135,833 62,152 Provision for income taxes (37,621 ) (17,609 ) (1,252 ) Gain (loss) on sale of real estate, net of tax 6,487 1,581 (332 ) Net income attributable to noncontrolling interests (12,969 ) (6,385 ) (32,936 ) Net (loss) income attributable to noncontrolling interests of discontinued operations — (179 ) 23,941 Net loss (income) attributable to redeemable noncontrolling interests — 142 (353 ) Income from continuing operations attributable to W. P. Carey $ 172,258 $ 206,329 $ 84,637
Reconciliation Of Assets From Segment To Consolidated	December 31, 2015 2014 Domestic Long-lived assets (b) $ 3,794,232 $ 3,804,430 Total assets 5,447,818 5,567,383 Germany Long-lived assets (b) $ 581,283 $ 609,739 Total assets 790,890 875,840 Other International Long-lived assets (b) $ 1,704,288 $ 1,466,789 Total assets 2,311,420 2,016,183 Total Long-lived assets (b) $ 6,079,803 $ 5,880,958 Total assets 8,550,128 8,459,406 __________ (a) Amount for the year ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes ( Note 7 ). (b) Consists of Net investments in real estate and Equity investments in the Managed Programs and real estate , excluding our equity investment in CCIF ( Note 7 ). Total Long-Lived Assets (f) at December 31, Total Assets at December 31, 2015 2014 2015 2014 Real Estate Ownership $ 6,079,803 $ 5,880,958 $ 8,550,128 $ 8,459,406 Investment Management 22,214 25,000 204,545 189,073 Total Company $ 6,102,017 $ 5,905,958 $ 8,754,673 $ 8,648,479 (f) Consists of Net investments in real estate and Equity investments in the Managed Programs and real estate . Total long-lived assets for our Investment Management segment consists of our equity investment in CCIF ( Note 7 ).

Selected Quarterly Financial Da

Selected Quarterly Financial Data Selected Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	(dollars in thousands, except per share amounts) Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues (a) $ 220,388 $ 238,079 $ 214,666 $ 265,250 Expenses (a) 140,479 130,382 159,066 150,902 Net income (a) 38,582 66,923 23,578 56,144 Net income attributable to noncontrolling interests (2,466 ) (3,575 ) (1,833 ) (5,095 ) Net income attributable to redeemable noncontrolling interests — — — — Net income attributable to W. P. Carey (a) $ 36,116 $ 63,348 $ 21,745 $ 51,049 Earnings per share attributable to W. P. Carey: Basic $ 0.34 $ 0.60 $ 0.20 $ 0.48 Diluted $ 0.34 $ 0.59 $ 0.20 $ 0.48 Distributions declared per share $ 0.9525 $ 0.9540 $ 0.9550 $ 0.9646 Three Months Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 209,195 $ 253,414 $ 197,006 $ 248,831 Expenses 171,605 161,360 128,174 176,239 Net income (b) 117,318 66,972 28,316 33,463 Net income attributable to noncontrolling interests (1,578 ) (2,344 ) (993 ) (1,470 ) Net (income) loss attributable to redeemable noncontrolling interests (262 ) 111 14 279 Net income attributable to W. P. Carey $ 115,478 $ 64,739 $ 27,337 $ 32,272 Earnings per share attributable to W. P. Carey (c) : Basic $ 1.29 $ 0.64 $ 0.27 $ 0.31 Diluted $ 1.27 $ 0.64 $ 0.27 $ 0.30 Distributions declared per share $ 0.8950 $ 0.9000 $ 0.9400 $ 0.9500 __________ (a) Amount for the three months ended December 31, 2015 includes a reversal of $25.0 million of liabilities for German real estate transfer taxes (Note 7) and $15.0 million of termination income related to a domestic property classified as held for sale ( Note 16 ). (b) Amount for the three months ended March 31, 2014 includes a net Gain on change in control of interests of $105.9 million recognized in connection with the CPA ® :16 Merger ( Note 3 ). (c) For the year ended December 31, 2014, total quarterly basic and diluted earnings per share were $0.09 higher than the corresponding earnings per share as computed on an annual basis, as a result of the change in the shares outstanding for each of the periods, primarily due to the issuance of shares in the CPA ® :16 Merger ( Note 3 ) and the Equity Offering ( Note 13 ).

Business and Organization (Narr

Business and Organization (Narratives) (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2015ft²propertytenant
Additional disclosures
Number of real estate properties | property	869
Number of tenants | tenant	222
Occupancy rate	98.80%
Square footage of real estate properties | ft²	90.1
Managed REITs
Additional disclosures
Number of real estate properties | property	428
Number of tenants | tenant	201
Occupancy rate	99.90%
Square footage of real estate properties | ft²	49.6
Managed REITs | Operating real estate
Additional disclosures
Number of real estate properties | property	174
Square footage of real estate properties | ft²	19.7

Summary of Significant Accoun52

Summary of Significant Accounting Policies (Narratives) (Details)	Jan. 01, 2016USD ($)	Apr. 04, 2013shares	Feb. 28, 2014shares	Dec. 31, 2015USD ($)viesegment	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Dec. 31, 2012shares
Basis of Consolidation
Variable interest entities, count | vie				20
Stock repurchased during period, shares | shares		616,971	11,037
Real estate tax expense				$ 57,700,000	$ 59,800,000	$ 37,300,000
Foreign currency transaction (losses)				$ (800,000)	(400,000)	(200,000)
Prior period reclassification adjustment						$ 32,715,000
Other assets
Basis of Consolidation
Prior period reclassification adjustment					11,200,000
Deferred Tax Liability
Basis of Consolidation
Prior period reclassification adjustment					$ (11,200,000)
New Accounting Pronouncement, Early Adoption, Effect | Forecast | Other assets
Basis of Consolidation
Effects of early adoption of accounting principle	$ (12,600,000)
New Accounting Pronouncement, Early Adoption, Effect | Forecast | Non-Recourse Debt
Basis of Consolidation
Effects of early adoption of accounting principle	$ 12,600,000
Common Stock
Basis of Consolidation
Stock repurchased during period, shares | shares					11,037	616,971	416,408
Prior period reclassification adjustment					$ (60,900,000)
Treasury Stock
Basis of Consolidation
Prior period reclassification adjustment					(60,900,000)
Additional Paid-in Capital
Basis of Consolidation
Prior period reclassification adjustment					(28,800,000)
Distributions in Excess of Accumulated Earnings
Basis of Consolidation
Prior period reclassification adjustment					(32,100,000)
Total Equity
Basis of Consolidation
Prior period reclassification adjustment					$ 0
CPA: 16 - Global
Basis of Consolidation
Variable interest entities, count | vie				12
Building and building improvements | Maximum
Basis of Consolidation
Property, plant and equipment, useful life				40 years
Furniture and fixtures | Maximum
Basis of Consolidation
Property, plant and equipment, useful life				7 years
Internal-use software development costs | Minimum
Basis of Consolidation
Property, plant and equipment, useful life				3 years
Internal-use software development costs | Maximum
Basis of Consolidation
Property, plant and equipment, useful life				7 years
Real Estate Investments
Basis of Consolidation
Number of reportable segments | segment				1
Prior period reclassification adjustment						$ 32,715,000

Merger with CPA_16 Global (Narr

Merger with CPA:16 Global (Narratives) (Details) $ / shares in Units, $ in Thousands	Jan. 31, 2014USD ($)loanpropertyinvestment$ / sharesshares	Nov. 27, 2013USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)	Jan. 31, 2014USD ($)loanpropertyinvestment$ / sharesshares
Merger Disclosure
Per share closing price | $ / shares	$ 59.08								$ 59.08
Cash consideration		$ 13,748				$ 0	$ 1,338	$ 0
Number of real estate properties | property						869
Non-recourse debt		$ 21,023				$ 2,271,204	2,532,683
Senior Unsecured Credit Facility - Revolver						485,021	807,518
Lease revenues						656,956	573,829	299,624
Income from operations						178,740	211,170	94,317
Merger and acquisition expense						(7,764)	34,465	9,230
Gain on change in control of interests						$ 0	105,947	0
Purchase on remaining interest							$ 280,936
Assets held-for-sale
Merger Disclosure
Number of real estate properties | property							4
Additional Paid-in Capital
Merger Disclosure
Purchase on remaining interest							$ 41,374
CPA: 16 - Global
Merger Disclosure
Share per share exchange rate | $ / shares	0.1830								0.1830
Per share exchange rate | $ / shares	$ 11.25								$ 11.25
Merger consideration	$ 1,800,000
Shares issued as compensation, shares | shares	30,729,878
Fair value of W.P.Carey shares of common stock issued	$ 1,815,521								$ 1,815,521
Shares of acquired entity received | shares	168,041,772
Cash consideration	$ 1,338
Non-recourse debt	1,768,288								1,768,288
Senior Unsecured Credit Facility - Revolver	$ 170,000								$ 170,000
Number of unconsolidated investments | investment	18								18
Lease revenues				$ 251,500
Income from operations				91,100
Income attributable to noncontrolling interest				$ 2,400
Merger and acquisition expense							$ 30,500	$ 5,000	$ 10,600
Carrying value of equity investment in CPA pre merger	$ 274,100								$ 274,100
Number of shares owned | shares	38,229,294								38,229,294
Fair value of noncontrolling interests acquired	$ 278,187								$ 278,187
Fair value equity interest in jointly-owned investments with equity investment prior to merger	$ 349,749
CPA: 16 - Global | Previously held equity interest
Merger Disclosure
Number of jointly owned investments with affiliate | investment	12								12
Gain on change in control of interests			$ 73,100
Carrying value of noncontrolling interest acquired from entity	$ 236,800								$ 236,800
CPA: 16 - Global | Jointly Owned Investments
Merger Disclosure
Number of jointly owned investments with affiliate | investment	9								9
Gain on change in control of interests			30,200
Carrying value of equity investment in CPA pre merger	$ 142,500								$ 142,500
Fair value equity interest in jointly-owned investments with equity investment prior to merger	$ 172,720
CPA: 16 - Global | Consolidated or partially leased investments
Merger Disclosure
Number of real estate properties | property	325								325
Weighted average lease term	10 years 4 months 24 days
Triple-net lease, current minimum base rent receivable	$ 300,100								$ 300,100
Interest Rate	5.60%
CPA: 16 - Global | Consolidated or partially leased investments | Fixed interest rate
Merger Disclosure
Loans outstanding, count | loan	92								92
CPA: 16 - Global | Consolidated or partially leased investments | Variable interest rate
Merger Disclosure
Loans outstanding, count | loan	18								18
CPA: 16 - Global | Equity method investments
Merger Disclosure
Number of real estate properties | property	140								140
Non-recourse debt	$ 300,000								$ 300,000
Number of consolidated investments | investment	11								11
Number of jointly owned investments with affiliate | investment	2								2
Number of investments consolidated after merger | investment	5								5
Weighted average lease term	8 years 7 months 6 days
Triple-net lease, current minimum base rent receivable	$ 63,900								$ 63,900
Interest Rate	4.80%
CPA: 16 - Global | Equity method investments | Fixed interest rate
Merger Disclosure
Loans outstanding, count | loan	17								17
CPA: 16 - Global | Equity method investments | Variable interest rate
Merger Disclosure
Loans outstanding, count | loan	5								5
CPA: 16 - Global | Additional Paid-in Capital
Merger Disclosure
Purchase on remaining interest			$ 42,000
Hotel
Merger Disclosure
Number of real estate properties | property							2
Hotel | CPA: 16 - Global | Consolidated or partially leased investments
Merger Disclosure
Number of real estate properties | property	2								2
Previously Reported | CPA: 16 - Global
Merger Disclosure
Fair value equity interest in jointly-owned investments with equity investment prior to merger	$ 347,200
Measurement period adjustment | CPA: 16 - Global
Merger Disclosure
Purchase on remaining interest	$ 600
Fair value of noncontrolling interests acquired							$ (600)
Fair value equity interest in jointly-owned investments with equity investment prior to merger					$ 2,600
Discontinued Operations | Assets held-for-sale | CPA: 16 - Global
Merger Disclosure
Number of real estate properties | property	10						10		10
Discontinued Operations | Assets held-for-sale | CPA: 16 - Global | Jointly Owned Investments
Merger Disclosure
Number of real estate properties | property	5								5

Merger with CPA_16 Global (Deta

Merger with CPA:16 Global (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Pro Forma Financial Information
Pro forma total revenue		$ 931,309	$ 780,578
Pro forma net income from continuing operations, net of tax		139,698	146,525
Pro forma net income attributable to noncontrolling interests		(5,380)	10,963
Pro forma net loss (income) attributable to redeemable noncontrolling interest		142	(1,909)
Pro forma net income from continuing operations, net of tax attributable to W. P. Carey (a)		$ 134,460	$ 155,579
Pro forma earnings per share
Basic (in dollar per share)		$ 1.32	$ 1.56
Diluted (in dollar per share)		$ 1.31	$ 1.54
Pro forma weighted average shares
Basic (in shares)		101,296,847	99,420,924
Diluted (in shares)		102,360,038	100,437,886
CPA: 16 - Global
Pro forma weighted average shares
Shares issued as compensation, shares	30,729,878

Agreements and Transactions w55

Agreements and Transactions with Related Parties (Narratives) (Details)	Apr. 04, 2013USD ($)$ / sharesshares	Feb. 28, 2014USD ($)shares	Nov. 30, 2013USD ($)propertyofficer	Jul. 31, 2012USD ($)	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Distributions Of Available Cash and Deferred Revenue Earned
Percentage of available cash distribution to advisor					10.00%
Other Transactions with Affiliates
Loans to affiliates					$ 185,447,000	$ 11,000,000	$ 15,000,000
Share Purchase Agreement
Redemption value adjustment				$ 85,000,000
Stock repurchased during period, shares | shares	616,971	11,037
Repurchase of common stock	$ 40,000,000	$ 700,000			$ 0	679,000	$ 40,000,000
Common stock market value on exercise date | $ / shares	$ 64.83
Number of real estate properties | property					869
Maximum
Share Purchase Agreement
Ownership interest in joint ventures					90.00%
Minimum
Share Purchase Agreement
Ownership interest in joint ventures					3.00%
CPA: 17 - Global
Other Transactions with Affiliates
Line of credit, maximum borrowing amount					$ 75,000,000	75,000,000
CPA:18 - Global
Other Transactions with Affiliates
Line of credit, maximum borrowing amount					100,000,000	100,000,000
CWI
Other Transactions with Affiliates
Line of credit, maximum borrowing amount					$ 110,000,000	110,000,000
Interest rate on loan					1.10%
CWI 2
Other Transactions with Affiliates
Line of credit, maximum borrowing amount					$ 110,000,000	$ 110,000,000
CPA REITs
Distributions Of Available Cash and Deferred Revenue Earned
Maximum personnel and overhead reimbursement, percentage					2.40%
CCIF
Distributions Of Available Cash and Deferred Revenue Earned
Reimbursement percentage					50.00%
Other Transactions with Affiliates
Line of credit, maximum borrowing amount					$ 50,000,000
Managed Programs
Other Transactions with Affiliates
Interest rate on loan					1.10%
Average adjusted capital | CCIF | Maximum
Distributions Of Available Cash and Deferred Revenue Earned
Incentive fees					2.344%
Average adjusted capital | CCIF | Minimum
Distributions Of Available Cash and Deferred Revenue Earned
Incentive fees					1.875%
Net investment income | CCIF | Minimum
Distributions Of Available Cash and Deferred Revenue Earned
Incentive fees					20.00%
Capital gain | CCIF | Minimum
Distributions Of Available Cash and Deferred Revenue Earned
Incentive fees					20.00%
Front-end fees | CCIF
Distributions Of Available Cash and Deferred Revenue Earned
Maximum personnel and overhead reimbursement, percentage					18.00%
Gross proceeds | CCIF
Distributions Of Available Cash and Deferred Revenue Earned
Maximum personnel and overhead reimbursement, percentage					82.00%
Average net asset | CCIF
Distributions Of Available Cash and Deferred Revenue Earned
Reimbursement percentage					1.75%
Discontinued Operations | Self-storage
Share Purchase Agreement
Ownership interest in joint ventures			38.30%
Number of Officers | officer			2
Properties sold | property			19
Number of real estate properties | property			20
Distribution to minority interests			$ 3,800,000
Discontinued Operations | Self-storage | Officers
Share Purchase Agreement
Ownership interest in joint ventures			1.70%
Third Party | Discontinued Operations | Self-storage
Share Purchase Agreement
Ownership interest in joint ventures			60.00%

Agreements and Transactions w56

Agreements and Transactions with Related Parties (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue from related parties:
Structuring revenue	$ 92,117	$ 71,256	$ 46,589
Reimbursable costs from affiliates	55,837	130,212	73,592
Asset management revenue	49,892	37,970	42,579
Distributions of Available Cash	38,406	31,052	34,121
Dealer manager fees	4,794	23,532	10,856
Interest income on deferred acquisition fees and loans to affiliates	1,639	684	949
Incentive, termination and subordinated disposition revenue	203	0	199
Deferred revenue earned	0	786	8,492
Total deferred revenue earned	$ 242,888	$ 295,492	$ 217,377

Agreements and Transactions w57

Agreements and Transactions with Related Parties (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction
Revenue from related parties	$ 242,888	$ 295,492	$ 217,377
CPA: 16 - Global
Related Party Transaction
Revenue from related parties	0	7,999	53,166
CPA: 17 - Global
Related Party Transaction
Revenue from related parties	81,740	68,710	69,275
CPA:18 - Global
Related Party Transaction
Revenue from related parties	85,431	129,642	29,293
CWI
Related Party Transaction
Revenue from related parties	44,712	89,141	65,643
CWI 2
Related Party Transaction
Revenue from related parties	30,340	0	0
CCIF
Related Party Transaction
Revenue from related parties	$ 665	$ 0	$ 0

Agreements and Transactions w58

Agreements and Transactions with Related Parties (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Due from affiliates
Deferred acquisition fees receivable	$ 33,386	$ 26,913
Accounts receivable	15,711	2,680
Reimbursable costs	5,579	301
Current acquisition fees receivable	4,909	2,463
Asset management fee receivable	2,172	0
Organization and offering costs	461	2,120
Due from affiliates	$ 62,218	$ 34,477

Agreements and Transactions w59

Agreements and Transactions with Related Parties (Details 4)	12 Months Ended
	Dec. 31, 2015
CPA: 17 - Global
Revenue from related parties
Asset management fees receivable in cash	50.00%
Asset management fees receivable in shares	50.00%
CWI REITs
Structuring revenue
Percentage of structuring fees earned	2.50%
Loan refinancing fee (percentage)	1.00%
Contract sales price of investment | CWI
Structuring revenue
Percentage of structuring fees earned	2.50%
Average invested assets | CPA: 16 - Global
Revenue from related parties
Percentage of asset management fees earned	0.50%
Average gross assets | CCIF
Revenue from related parties
Percentage of fees earned paid to subadvisor	50.00%
Market value of equity investment | CWI
Revenue from related parties
Percentage of asset management fees earned	0.50%
Percentage of fees earned paid to subadvisor	20.00%
Market value of equity investment | CWI 2
Revenue from related parties
Percentage of asset management fees earned	0.55%
Percentage of fees earned paid to subadvisor	25.00%
Minimum | Average equity value | CPA: 17 - Global
Revenue from related parties
Percentage of asset management fees earned	0.50%
Structuring revenue
Percentage of structuring fees earned	1.00%
Minimum | Average equity value | CPA:18 - Global
Revenue from related parties
Percentage of asset management fees earned	0.50%
Minimum | Average gross assets | CCIF
Revenue from related parties
Percentage of asset management fees earned	1.75%
Maximum | Contract sales price of investment | Managed Programs
Structuring revenue
Percentage of structuring fees earned	6.00%
Maximum | Average equity value | CPA: 17 - Global
Revenue from related parties
Percentage of asset management fees earned	1.75%
Structuring revenue
Percentage of structuring fees earned	1.75%
Maximum | Average equity value | CPA:18 - Global
Revenue from related parties
Percentage of asset management fees earned	1.50%
Maximum | Average gross assets | CCIF
Revenue from related parties
Percentage of asset management fees earned	2.00%
Long-term net lease | CPA REITs
Structuring revenue
Percentage of structuring fees earned	4.50%
Installment period for deferred acquisition fee receivable	three interest-bearing annual installments
Lodging-related investments | CWI
Revenue from related parties
Percentage of asset management fees earned	0.50%
Lodging-related investments | CWI 2
Revenue from related parties
Percentage of asset management fees earned	0.55%
Upon Completion | Long-term net lease | CPA REITs
Structuring revenue
Percentage of structuring fees earned	2.50%
Deferred | Long-term net lease | CPA REITs
Structuring revenue
Percentage of structuring fees earned	2.00%

Agreements and Transactions w60

Agreements and Transactions with Related Parties (Details 5)	Dec. 31, 2015$ / shares
CWI
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold	$ 0.70
Dealer manager fee per share sold	$ 0.30
CCIF | Minimum
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold, percentage	0.00%
Dealer manager fee per share fee, percentage	2.75%
CCIF | Maximum
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold, percentage	3.00%
Dealer manager fee per share fee, percentage	3.00%
Class A | CPA:18 - Global
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold	$ 0.7
Dealer manager fee per share sold	0.3
Class A | CWI 2
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold	0.70
Dealer manager fee per share sold	0.30
Class C | CPA:18 - Global
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold	0.14
Dealer manager fee per share sold	$ 0.21
Shareholder servicing, percentage	1.00%
Underwriting compensation limit, percentage	10.00%
Class T | CWI 2
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold	$ 0.19
Dealer manager fee per share sold	$ 0.26
Shareholder servicing, percentage	1.00%
Underwriting compensation limit, percentage	10.00%

Agreements and Transactions w61

Agreements and Transactions with Related Parties (Details 6)	12 Months Ended
	Dec. 31, 2015
Related Party Transaction
Percentage of Available cash distribution to advisor	10.00%
CPA REITs
Reimbursed Costs
Maximum personnel and overhead reimbursement, percentage	2.40%
CPA:18 - Global
Reimbursed Costs
Maximum percent of offering proceeds	1.50%
Maximum percentage of follow-on offering proceeds	4.00%
CWI
Reimbursed Costs
Maximum percent of offering proceeds	4.00%
CWI 2
Reimbursed Costs
Maximum percent of offering proceeds	1.50%
Maximum percentage of follow-on offering proceeds	4.00%
CCIF
Reimbursed Costs
Maximum percent of offering proceeds	1.50%

Net Investments in Properties62

Net Investments in Properties (Narratives) (Details) $ in Thousands

Dec. 22, 2015USD ($)

Nov. 11, 2015USD ($)property

Oct. 15, 2015USD ($)property

Aug. 24, 2015USD ($)

Aug. 06, 2015USD ($)

Jun. 17, 2015USD ($)

Apr. 10, 2015USD ($)

Feb. 11, 2015USD ($)

Jan. 28, 2015USD ($)property

Dec. 19, 2014USD ($)property

Dec. 12, 2014USD ($)

Nov. 04, 2014USD ($)

Oct. 28, 2014USD ($)property

Oct. 13, 2014USD ($)

Oct. 07, 2014USD ($)

Aug. 22, 2014USD ($)

Aug. 06, 2014USD ($)

May. 15, 2014USD ($)

Mar. 26, 2014USD ($)

Nov. 27, 2013USD ($)

Sep. 09, 2013USD ($)

Jun. 07, 2013USD ($)

Jun. 04, 2013USD ($)

Apr. 15, 2013USD ($)

Jan. 11, 2013USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)property

Dec. 31, 2014USD ($)property

Dec. 31, 2013USD ($)

Jan. 31, 2014USD ($)

Dec. 04, 2013USD ($)

Dec. 31, 2012USD ($)

Investments in real estate

Decrease in exchange rate

10.40%

Foreign currency exchange rate

1.0887

1.2156

Decrease in value of balance sheet item due to foreign currency translation

$ 125,447

$ 117,938

$ (21,835)

Depreciation

$ 141,500

117,600

59,600

Number of real estate properties | property

869

Goodwill

$ 681,809

692,415

350,208

$ 329,132

Net investment in direct financing leases

756,353

816,226

Net investment in properties

$ 33,625

5,011,145

4,833,074

Investment in real estate under construction

28,040

20,647

0

Assets placed into service

$ 53,200

Mönchengladbach, Germany

Investments in real estate

BTS commitment

$ 65,000

CPA: 16 - Global

Investments in real estate

Goodwill

$ 346,642

Net investment in direct financing leases

538,225

Net investment in properties

$ 1,970,175

Real estate

Investments in real estate

Decrease in value of balance sheet item due to foreign currency translation

177,300

Investment purchase price

116,000

536,700

124,400

Land acquired

8,600

83,900

20,700

Buildings acquired

68,100

366,600

77,200

Intangible assets acquired

39,400

82,900

26,500

Net investment in direct financing leases

3,300

Net investment in properties

4,937,190

4,753,055

Acquisition costs, capitalized

3,900

$ 17,800

1,500

Real estate | Office building in Sunderland, United Kingdom

Investments in real estate

Investment purchase price

$ 53,500

Real estate | Auto Dealerships in Amsterdam, Eindhoven, Houten,Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands

Investments in real estate

Investment purchase price

$ 62,500

Number of real estate properties | property

10

Real estate | Agricultural facilities in Australia

Investments in real estate

Investment purchase price

$ 138,300

Real estate | Agricultural facilities in Australia | Industrial

Investments in real estate

Number of real estate properties | property

10

Commitment for tenant improvement

$ 14,800

Real estate | Agricultural facilities in Australia | Agricultural

Investments in real estate

Number of real estate properties | property

21

Real estate | Manufacturing facility in Lewisburg Ohio

Investments in real estate

Investment purchase price

$ 19,800

Real estate | Various offices in Spain

Investments in real estate

Investment purchase price

$ 378,500

Number of real estate properties | property

70

Real estate | CPA: 16 - Global

Investments in real estate

Number of real estate properties | property

225

Net investment in properties

$ 2,000,000

Real estate | Office building in Northfield, Illinois

Investments in real estate

Investment purchase price

$ 72,400

Real estate | Office and Research Facility in Tampere, Finland

Investments in real estate

Investment purchase price

$ 52,100

Business combination

Investments in real estate

Investment purchase price

561,600

366,900

157,700

Land acquired

89,500

33,100

17,200

Buildings acquired

382,600

278,100

99,000

Intangible assets acquired

89,500

55,700

41,500

Acquisition costs, expensed

$ 11,100

$ 3,300

4,200

Business combination | Various auto dealerships in the United Kingdom

Investments in real estate

Investment purchase price

$ 345,900

Number of real estate properties | property

73

Business combination | Logistic facilty in Rotterdam, the Netherlands

Investments in real estate

Investment purchase price

$ 42,400

Business combination | Retail facility in Bad Fischau, Austria

Investments in real estate

Investment purchase price

$ 23,200

Business combination | Logistic facility in Oskarshamn, Sweden

Investments in real estate

Investment purchase price

$ 26,300

Business combination | Various maintenance facilities in Europe

Investments in real estate

Investment purchase price

$ 41,200

Business combination | Hotels in Iowa, Louisiana, Missouri, New Jersey, North Carolina, and Texas

Investments in real estate

Investment purchase price

$ 51,700

Number of real estate properties | property

6

Business combination | Office Building in Irvine, California

Investments in real estate

Investment purchase price

$ 30,900

Business combination | Office building in Chandler Arizona

Investments in real estate

Investment purchase price

$ 41,900

Business combination | Warehouse facility in University Park, Illinois

Investments in real estate

Investment purchase price

$ 47,200

Business combination | Office building in Stavanger, Norway

Investments in real estate

Investment purchase price

$ 117,700

Deferred tax liability

14,700

Goodwill

$ 11,100

Business combination | Office building in Westborough, Massachusetts

Investments in real estate

Investment purchase price

$ 46,000

Business combination | Office building in Andover, Massachusetts

Investments in real estate

Investment purchase price

$ 56,000

Business combination | Office building in Newport, United Kingdom

Investments in real estate

Investment purchase price

$ 29,100

Business combination | Industrial/Distribution center in Opole, Poland

Investments in real estate

Investment purchase price

$ 29,000

Business combination | Logistics facility in Venlo, Netherlands

Investments in real estate

Investment purchase price

$ 35,300

Business combination | Office building in Quincy, Massachusetts

Investments in real estate

Investment purchase price

$ 25,500

Business combination | Office building in Salford, United Kingdom

Investments in real estate

Investment purchase price

$ 63,300

Business combination | Office building in Lone Tree, Colorado

Investments in real estate

Investment purchase price

33,600

Commitment for tenant improvement

$ 5,200

Hotel

Investments in real estate

Number of real estate properties | property

2

Self-storage

Investments in real estate

Number of real estate properties | property

1

2

Assets held-for-sale

Investments in real estate

Number of real estate properties | property

4

Number of properties held for sale | property

2

Direct Financing Method

Investments in real estate

Decrease in value of balance sheet item due to foreign currency translation

$ 43,700

Reclassification to real estate owned

$ 13,700

$ 14,000

Net Investments in Properties63

Net Investments in Properties (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Nov. 27, 2013
Real Estate Investment Property At Cost
Less: Accumulated depreciation	$ (381,529)	$ (258,493)
Net investments in properties	5,011,145	4,833,074	$ 33,625
Real estate
Real Estate Investment Property At Cost
Land	1,160,567	1,146,704
Buildings	4,147,644	3,829,981
Real estate under construction	1,714	29,997
Less: Accumulated depreciation	(372,735)	(253,627)
Net investments in properties	4,937,190	4,753,055
Operating real estate
Real Estate Investment Property At Cost
Land	6,578	7,074
Buildings	76,171	77,811
Less: Accumulated depreciation	(8,794)	(4,866)
Net investments in properties	$ 73,955	$ 80,019

Net Investments in Properties64

Net Investments in Properties (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Scheduled Future Minimum Rents
2,016	$ 611,361
2,017	600,116
2,018	573,110
2,019	527,494
2,020	484,060
Thereafter	2,887,773
Total	$ 5,683,914

Net investments in Properties65

Net investments in Properties (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Long Lived Assets Held-for-sale
Assets held for sale	$ 59,046	$ 7,255
Real Estate
Long Lived Assets Held-for-sale
Assets held for sale	59,046	5,969
Above-market rent intangible assets, net
Long Lived Assets Held-for-sale
Assets held for sale	0	838
In-place lease intangible assets, net
Long Lived Assets Held-for-sale
Assets held for sale	$ 0	$ 448

Finance Receivables (Narratives

Finance Receivables (Narratives) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2015USD ($)	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)	Jan. 31, 2014USD ($)lease
Finance Receivables
Interest income from direct financing lease		$ 74,400	$ 78,800	$ 37,300
Decrease in value of balance sheet item due to foreign currency translation		$ 125,447	117,938	(21,835)
Number of real estate properties | property		869
Net investment in direct financing leases		$ 756,353	816,226
Accounts receivable billed under direct financing lease		1,200	1,400
Proceeds from sales of direct financing lease				5,500
Gain (loss) on sale of direct financing lease				(300)
Notes receivable, net		10,700	10,900
Allowance for credit losses		8,748	0	0
Proceeds from repayment of note receivable		$ 10,441	1,915	0
Financing receivable credit quality additional information		We generally seek investments in facilities that we believe are critical to a tenant’s business and that we believe have a low risk of tenant default.
Financing receivable credit quality range of dates ratings updated		The credit quality evaluation of our finance receivables was last updated in the fourth quarter of 2015.
CPA: 16 - Global
Finance Receivables
Number of DFL acquired from Merger | lease					98
Net investment in direct financing leases					$ 538,225
B Note
Finance Receivables
Notes receivable, net			10,000
Proceeds from repayment of note receivable	$ 10,000
Direct Financing Method
Finance Receivables
Decrease in value of balance sheet item due to foreign currency translation		$ 43,700
Reclassification to real estate owned			13,700	14,000
Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		29,906	23,802	31,813
Real estate
Finance Receivables
Decrease in value of balance sheet item due to foreign currency translation		177,300
Net investment in direct financing leases			$ 3,300
Real estate | CPA: 16 - Global
Finance Receivables
Number of real estate properties | property			225
Continuing Operations
Finance Receivables
Proceeds from sales of direct financing lease				5,500
Gain (loss) on sale of direct financing lease				300
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		29,906	$ 23,802	24,550
Continuing Operations | Net investments in direct financing lease | Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		$ 3,309	$ 1,329	$ 68
Number of real estate properties | property		5	8

Finance Receivables (Details 1)

Finance Receivables (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Net Investments in Direct Financing Leases
Minimum lease payments receivable	$ 797,736	$ 904,788
Unguaranteed residual value	760,448	818,334
Gross minimum lease payments receivable	1,558,184	1,723,122
Less: unearned income	(801,831)	(906,896)
Net investments in direct financing leases	$ 756,353	$ 816,226

Finance Receivables (Details 2)

Finance Receivables (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Schedule Future Minimum Rents
2,016	$ 75,613
2,017	75,378
2,018	75,449
2,019	72,929
2,020	72,390
Thereafter	425,977
Total	$ 797,736

Finance Receivables (Details 3)

Finance Receivables (Details 3) $ in Thousands	Dec. 31, 2015USD ($)tenant	Dec. 31, 2014USD ($)tenant
Credit Quality Of Finance Receivables
Number of tenants | tenant	222
Net investments in direct financing leases | $	$ 767,036	$ 837,074
Internally Assigned Grade 1
Credit Quality Of Finance Receivables
Number of tenants | tenant	2	3
Net investments in direct financing leases | $	$ 90,818	$ 79,343
Internally Assigned Grade 2
Credit Quality Of Finance Receivables
Number of tenants | tenant	3	4
Net investments in direct financing leases | $	$ 53,492	$ 37,318
Internally Assigned Grade 3
Credit Quality Of Finance Receivables
Number of tenants | tenant	23	22
Net investments in direct financing leases | $	$ 512,724	$ 592,631
Internally Assigned Grade 4
Credit Quality Of Finance Receivables
Number of tenants | tenant	6	7
Net investments in direct financing leases | $	$ 110,002	$ 127,782
Internally Assigned Grade 5
Credit Quality Of Finance Receivables
Number of tenants | tenant	0	0
Net investments in direct financing leases | $	$ 0	$ 0

Equity Investments in the Man70

Equity Investments in the Managed Programs and Real Estate (Narratives) (Details) $ / shares in Units, $ in Thousands	Mar. 27, 2015USD ($)	Oct. 31, 2013USD ($)property	Jun. 30, 2013USD ($)	Nov. 30, 2010	Dec. 31, 2015USD ($)property$ / sharesshares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)property$ / sharesshares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Sep. 30, 2014$ / shares	May. 30, 2014USD ($)$ / sharesshares	Jan. 31, 2014USD ($)shares	Nov. 27, 2013USD ($)	Dec. 31, 2007property
Investments in REITs
Common stock, per share value | $ / shares					$ 0.001			$ 0.001	$ 0.001			$ 0.001
Payments to acquire equity method investments								$ 16,229	$ 25,468	$ 1,945
Percentage of available cash distribution to advisor								10.00%
Other-than-temporary impairment charges								$ 29,906	23,067	13,709
Income from equity method investments								51,020	44,116	52,731
Gain or loss on sale of investment properties								6,487	29,250	39,711
Payment of mortgage loan								90,328	205,024	391,764
Other Transactions
Real estate tax expense, adjustment								(57,700)	(59,800)	(37,300)
Non-recourse debt					$ 2,271,204			2,271,204	2,532,683						$ 21,023
Proceeds from mortgage financing								$ 22,667	20,354	115,567
Number of real estate properties | property					869			869
Gain (loss) on sale of real estate, net of tax								$ 6,487	1,581	(332)
Real Estate Investments
Investments in REITs
Distributions received from equity investment								13,300	12,500	25,900
Aggregate unamortized basis difference on equity investments					$ 5,700			$ 5,700	5,800
CPA: 17 - Global
Investments in REITs
Asset management fees receivable, shares | shares					128,392			128,392
Distributions received from equity investment								$ 5,900	$ 4,600	3,000
Equity method investment, ownership percentage					3.087%			3.087%	2.676%
CPA:17 - Global operating partnership
Investments in REITs
Distributions received from equity investment								$ 24,700	$ 20,400	16,900
Equity method investment, ownership percentage					0.009%			0.009%	0.009%
CPA:18 - Global
Investments in REITs
Equity method investment, ownership percentage					0.735%			0.735%	0.221%
CPA:18 - Global | Class A
Investments in REITs
Asset management fees receivable, shares | shares					81,338			81,338
CPA:18 - Global operating partnership
Investments in REITs
Distributions received from equity investment								$ 6,300	$ 1,800	100
Equity method investment, ownership percentage					0.034%			0.034%	0.034%
CWI operating partnership
Investments in REITs
Distributions received from equity investment								$ 7,100	$ 4,100	1,900
Equity method investment, ownership percentage					0.015%			0.015%	0.015%
CWI 2
Investments in REITs
Common stock acquired, shares | shares													22,222
Common stock, per share value | $ / shares													$ 0.001
Common stock acquired, value													$ 200
Equity method investment, ownership percentage					0.379%			0.379%	0.00%
CWI 2 | Class A
Investments in REITs
Asset management fees receivable, shares | shares					18,022			18,022
CWI 2 operating partnership
Investments in REITs
Distributions received from equity investment								$ 300
Equity method investment, ownership percentage	0.015%				0.015%			0.015%	0.00%
Payments to acquire equity method investments	$ 300
Percentage of available cash distribution to advisor	10.00%
CCIF
Investments in REITs
Distributions received from equity investment								$ 800
Equity method investment, ownership percentage					47.882%			47.882%	50.00%
Managed Programs
Investments in REITs
Aggregate unamortized basis difference on equity investments					$ 27,400			$ 27,400	$ 20,200
Other-than-temporary impairment charges								1,000	1,300	25,600
Gain or loss on sale of investment properties								8,900	13,300	7,700
Managed Programs | Gain On Sale Of Real Estate
Investments in REITs
Income from equity method investments								100	400	100
Managed Programs | Impairment
Investments in REITs
Income from equity method investments								(100)	$ (100)	$ (4,700)
C1000 Logestiek Vastgoed B.V. | CPA: 17 - Global | Real Estate Investments
Investments in REITs
Mortgage debt tenants in common					72,500			72,500
Pro rata share mortgage debt on tenancy in common					10,900			10,900
Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH | CPA: 17 - Global | Real Estate Investments
Investments in REITs
Income from equity method investments							$ 2,100
Payment of mortgage loan								14,300
Contributions to equity method investments						$ 4,700
Frontier Spinning Mills, Inc. | CPA: 17 - Global | Real Estate Investments
Investments in REITs
Payments to acquire equity method investments							$ 8,600
Actebis Peacock GmbH | CPA: 17 - Global | Real Estate Investments
Investments in REITs
Payments to acquire equity method investments						$ 6,200
Beach House JV, LLC
Investments in REITs
Distributions received from equity investment								1,100
Income from equity method investments								1,300
Hellweg 2
Investments in REITs
Income from equity method investments		$ 8,400
Hellweg 2 | Propco
Investments in REITs
Equity method investment, ownership percentage		5.00%														75.00%
Other Transactions
Real estate tax expense, adjustment		$ (22,100)
Number of real estate properties | property																37
Hellweg 2 | CPA:14
Investments in REITs
Equity method investment, ownership percentage																33.00%
Hellweg 2 | CPA:15
Investments in REITs
Equity method investment, ownership percentage																40.00%
Hellweg 2 | CPA: 16 - Global
Investments in REITs
Equity method investment, ownership percentage																27.00%
Hellweg 2 | CPA 14, 15, and 16
Investments in REITs
Equity method investment, ownership percentage				95.00%												25.00%
Other Transactions
Increase in ownership interest in equity method investment				70.00%
U.S. Airways
Investments in REITs
Payment of mortgage loan			$ 2,900
Other Transactions
Non-recourse debt			17,100
Proceeds from mortgage financing			13,900
Proceeds from the sale of real estate investment			28,400
Gain (Loss) on sale of equity method investment			$ 19,500
Previously Owned Equity Method Investment
Investments in REITs
Distributions received from equity investment		$ 4,200
Equity method investment, ownership percentage		30.00%
Income from equity method investments		$ 200
Other Transactions
Non-recourse debt		$ 25,700
Number of properties sold | property		5
Proceeds from the sale of properties		$ 41,400
Gain (loss) on sale of real estate, net of tax		$ 500
Previously Owned Equity Method Investment | CPA: 16 - Global
Investments in REITs
Equity method investment, ownership percentage		70.00%
Germany
Other Transactions
Real estate tax expense, adjustment					$ 25,000
CPA: 16 - Global
Investments in REITs
Common stock acquired, shares | shares														38,229,294
Other Transactions
Non-recourse debt														$ 1,768,288
CPA: 16 - Global | Germany | Hellweg 2
Other Transactions
Real estate tax expense, adjustment								$ 17,100
CPA:15 | Germany | Hellweg 2
Other Transactions
Real estate tax expense, adjustment											$ 7,900

Equity Investments in the Man71

Equity Investments in the Managed Programs and Real Estate (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Equity Method Investments
Distributions of Available Cash (Note 4)	$ (415)	$ 1,307	$ 10,177
Income from equity method investments	51,020	44,116	52,731
Managed Programs
Schedule Of Equity Method Investments
Distributions of Available Cash (Note 4)	38,406	31,052	34,121
Amortization of basis differences on equity investments in the Managed Programs	(806)	(810)	(5,115)
Income from equity method investments	(454)	2,425	7,057
Deferred revenue earned (Note 4)	0	786	9,436
Other-than-temporary impairment charges on the Special Member Interest in CPA®:16 – Global’s operating partnership	0	(735)	(15,383)
Total equity earnings from the Managed Programs	37,146	32,718	30,116
Jointly Owned Investments
Schedule Of Equity Method Investments
Amortization of basis differences on equity investments in the Managed Programs	(3,685)	(3,430)	(4,313)
Income from equity method investments	$ 17,559	$ 14,828	$ 26,928

Equity Investments in the Man72

Equity Investments in the Managed Programs and Real Estate (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 27, 2015	Dec. 31, 2014
Investments in Programs
Equity investments in real estate	$ 275,473		$ 249,403
CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	3.087%		2.676%
Equity investments in real estate	$ 87,912		$ 79,429
CPA:17 - Global operating partnership
Investments in Programs
Equity method investment, ownership percentage	0.009%		0.009%
Equity investments in real estate	$ 0		$ 0
CPA:18 - Global
Investments in Programs
Equity method investment, ownership percentage	0.735%		0.221%
Equity investments in real estate	$ 9,279		$ 2,784
CPA:18 - Global operating partnership
Investments in Programs
Equity method investment, ownership percentage	0.034%		0.034%
Equity investments in real estate	$ 209		$ 209
CWI
Investments in Programs
Equity method investment, ownership percentage	1.131%		1.088%
Equity investments in real estate	$ 12,619		$ 13,940
CWI operating partnership
Investments in Programs
Equity method investment, ownership percentage	0.015%		0.015%
Equity investments in real estate	$ 0		$ 0
CWI 2
Investments in Programs
Equity method investment, ownership percentage	0.379%		0.00%
Equity investments in real estate	$ 949		$ 0
CWI 2 operating partnership
Investments in Programs
Equity method investment, ownership percentage	0.015%	0.015%	0.00%
Equity investments in real estate	$ 300		$ 0
Carey Credit Income Fund
Investments in Programs
Equity method investment, ownership percentage	47.882%		50.00%
Equity investments in real estate	$ 22,214		$ 25,000
Managed Programs
Investments in Programs
Equity investments in real estate	$ 133,482		$ 121,362

Equity Investments in the Man73

Equity Investments in the Managed Programs and Real Estate (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Managed Programs
Equity Method Investment Summarized Financial Information
Real estate, net	$ 6,886,709	$ 5,969,011
Other assets	2,426,189	2,293,065
Total assets	9,312,898	8,262,076
Debt	(4,432,082)	(3,387,795)
Accounts payable, accrued expenses and other liabilities	(612,974)	(496,857)
Total liabilities	(5,045,056)	(3,884,652)
Noncontrolling interests	(253,020)	(170,249)
Stockholders’ equity	4,014,822	4,207,175
Combined Equity Investments
Equity Method Investment Summarized Financial Information
Real estate, net	464,730	486,858
Other assets	64,989	81,232
Total assets	529,719	568,090
Debt	(201,611)	(278,012)
Accounts payable, accrued expenses and other liabilities	(9,394)	(10,057)
Total liabilities	(211,005)	(288,069)
Noncontrolling interests	(355)	(355)
Stockholders’ equity	$ 318,359	$ 279,666

Equity Investments in the Man74

Equity Investments in the Managed Programs and Real Estate (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Combined Equity Investments
Equity Method Investment Summarized Financial Information Income Statement
Revenues	$ 61,887	$ 64,294	$ 117,278
Expenses	(21,124)	(27,801)	(50,907)
Income from continuing operations	40,763	36,493	66,371
Net income attributable to the Managed Programs	40,763	36,493	15,762
Managed Programs
Equity Method Investment Summarized Financial Information Income Statement
Revenues	1,157,432	825,405	796,637
Expenses	(1,120,090)	(816,630)	(669,554)
Income from continuing operations	37,342	8,775	127,083
Net income attributable to the Managed Programs	$ (6,450)	$ (12,695)	$ 104,342

Equity Investments in the Man75

Equity Investments in the Managed Programs and Real Estate (Details 5) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investments in Programs
Equity investments in real estate	$ 275,473	$ 249,403
CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	3.087%	2.676%
Equity investments in real estate	$ 87,912	$ 79,429
Real Estate Investments
Investments in Programs
Equity investments in real estate	141,991	128,041
Real Estate Investments | Third Party | Beach House JV, LLC
Investments in Programs
Equity investments in real estate	15,318	15,105
Existing Equity Investments | Real Estate Investments
Investments in Programs
Equity investments in real estate	$ 19,223	18,482
Existing Equity Investments | Real Estate Investments | CPA: 17 - Global | Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH
Investments in Programs
Equity method investment, ownership percentage	33.00%
Equity investments in real estate	$ 9,507	6,949
Existing Equity Investments | Real Estate Investments | CPA: 17 - Global | C1000 Logestiek Vastgoed B.V.
Investments in Programs
Equity method investment, ownership percentage	15.00%
Equity investments in real estate	$ 9,381	11,192
Existing Equity Investments | Real Estate Investments | CPA: 17 - Global | Wanbishi Archives Co. Ltd.
Investments in Programs
Equity method investment, ownership percentage	3.00%
Equity investments in real estate	$ 335	341
Equity Investments Acquired in the CPA®:16 Merger | Real Estate Investments
Investments in Programs
Equity investments in real estate	$ 107,450	94,454
Equity Investments Acquired in the CPA®:16 Merger | Real Estate Investments | CPA: 17 - Global | The New York Times Company
Investments in Programs
Equity method investment, ownership percentage	45.00%
Equity investments in real estate	$ 70,976	72,476
Equity Investments Acquired in the CPA®:16 Merger | Real Estate Investments | CPA: 17 - Global | Frontier Spinning Mills, Inc.
Investments in Programs
Equity method investment, ownership percentage	40.00%
Equity investments in real estate	$ 24,288	15,609
Equity Investments Acquired in the CPA®:16 Merger | Real Estate Investments | CPA: 17 - Global | Actebis Peacock GmbH
Investments in Programs
Equity method investment, ownership percentage	30.00%
Equity investments in real estate	$ 12,186	$ 6,369

Goodwill and Other Intangible76

Goodwill and Other Intangibles (Narratives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets, Net
Amortization of intangible assets	$ 180.8	$ 174	$ 86.1
Maximum
Finite-Lived Intangible Assets, Net
Finite lived intangible assets useful life	43 years
Maximum | Below-market ground lease
Finite-Lived Intangible Assets, Net
Finite lived intangible assets useful life	99 years
Minimum
Finite-Lived Intangible Assets, Net
Finite lived intangible assets useful life	1 year

Goodwill and Other Intangible77

Goodwill and Other Intangibles (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Acquired Finite Lived Intangible Assets Liabilities
Acquired finite-lived intangible asset, acquisition	$ 135,629
Below-market ground lease
Acquired Finite Lived Intangible Assets Liabilities
Indefinite lived intangible assets, acquired	$ 881
Below-market rent
Acquired Finite Lived Intangible Assets Liabilities
Acquired finite lived intangible liabilities weighted average useful life	14 years 7 months 20 days
Acquired finite-lived intangible liability, acquisition	$ (6,798)
In-place lease
Acquired Finite Lived Intangible Assets Liabilities
Acquired intangible assets weighted-average life	13 years 4 months 27 days
Acquired finite-lived intangible asset, acquisition	$ 92,012
Above-market rent
Acquired Finite Lived Intangible Assets Liabilities
Acquired intangible assets weighted-average life	15 years 3 months 9 days
Acquired finite-lived intangible asset, acquisition	$ 32,739
Below-market ground lease
Acquired Finite Lived Intangible Assets Liabilities
Acquired intangible assets weighted-average life	63 years 30 days
Acquired finite-lived intangible asset, acquisition	$ 9,997

Goodwill and Other Intangible78

Goodwill and Other Intangibles (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill
Balance - beginning of period	$ 692,415	$ 350,208	$ 329,132
Adjustments related to deferred income taxes			32,715
Allocation of goodwill to the cost basis of properties sold or classified as held for sale	(1,762)	(3,762)	(13,118)
Adjustments to purchase price allocation			1,479
Acquisition of investment accounted for as business combination		346,642
Foreign currency translation adjustments and other	(10,548)	(14,258)
Other business combinations	1,704	13,585
Balance - end of period	681,809	692,415	350,208
Real Estate Ownership
Goodwill
Balance - beginning of period	628,808	286,601	265,525
Adjustments related to deferred income taxes			32,715
Allocation of goodwill to the cost basis of properties sold or classified as held for sale	(1,762)	(3,762)	(13,118)
Adjustments to purchase price allocation			1,479
Acquisition of investment accounted for as business combination		346,642
Foreign currency translation adjustments and other	(10,548)	(14,258)
Other business combinations	1,704	13,585
Balance - end of period	618,202	628,808	286,601
Investment Management
Goodwill
Balance - beginning of period	63,607	63,607	63,607
Adjustments related to deferred income taxes			0
Allocation of goodwill to the cost basis of properties sold or classified as held for sale	0	0	0
Adjustments to purchase price allocation			0
Acquisition of investment accounted for as business combination		0
Foreign currency translation adjustments and other	0	0
Other business combinations	0	0
Balance - end of period	$ 63,607	$ 63,607	$ 63,607

Goodwill and Other Intangible79

Goodwill and Other Intangibles (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortizable Intangible Assets
Less: accumulated amortization	$ (512,392)	$ (341,672)
Indefinite Lived Intangible Assets Including Goodwill
Indefinite-lived intangible assets	686,679	696,390
Total intangible assets, gross	2,617,655	2,589,572
Total intangible assets, net	2,105,263	2,247,900
Amortizable Intangible Liabilities
Finite-lived intangible liabilities, gross	(184,251)	(182,542)
Less: accumulated amortization	46,647	24,183
Net amortizable intangible liabilities	(137,604)	(158,359)
Indefinite Lived Intangible Liabilities
Total intangible liabilities, gross	(200,962)	(199,253)
Total intangible liabilities, net	(154,315)	(175,070)
Below-market purchase options
Indefinite Lived Intangible Liabilities
Indefinite-lived intangible liabilities	(16,711)	(16,711)
Below-market rent
Amortizable Intangible Liabilities
Finite-lived intangible liabilities, gross	(171,199)	(169,231)
Less: accumulated amortization	44,873	23,039
Net amortizable intangible liabilities	(126,326)	(146,192)
Above-market ground lease
Amortizable Intangible Liabilities
Finite-lived intangible liabilities, gross	(13,052)	(13,311)
Less: accumulated amortization	1,774	1,144
Net amortizable intangible liabilities	(11,278)	(12,167)
Goodwill
Indefinite Lived Intangible Assets Including Goodwill
Indefinite-lived intangible assets	681,809	692,415
Trade name
Indefinite Lived Intangible Assets Including Goodwill
Indefinite-lived intangible assets	3,975	3,975
Below-market ground lease
Indefinite Lived Intangible Assets Including Goodwill
Indefinite-lived intangible assets	895	0
Contracts including internal software development costs
Amortizable Intangible Assets
Finite lived intangible assets, gross	50,953	50,349
Less: accumulated amortization	(34,803)	(32,791)
Amortizable intangible assets	16,150	17,558
Management contracts
Amortizable Intangible Assets
Finite lived intangible assets, gross	32,765	32,765
Less: accumulated amortization	(32,765)	(32,765)
Amortizable intangible assets	0	0
Internal-use software development costs
Amortizable Intangible Assets
Finite lived intangible assets, gross	18,188	17,584
Less: accumulated amortization	(2,038)	(26)
Amortizable intangible assets	16,150	17,558
Lease intangibles
Amortizable Intangible Assets
Finite lived intangible assets, gross	1,880,023	1,842,833
Less: accumulated amortization	(477,589)	(308,881)
Amortizable intangible assets	1,402,434	1,533,952
In-place lease and tenant relationship
Amortizable Intangible Assets
Finite lived intangible assets, gross	1,205,585	1,185,692
Less: accumulated amortization	(302,737)	(191,873)
Amortizable intangible assets	902,848	993,819
Above-market rent
Amortizable Intangible Assets
Finite lived intangible assets, gross	649,035	639,370
Less: accumulated amortization	(173,963)	(116,573)
Amortizable intangible assets	475,072	522,797
Below-market ground lease
Amortizable Intangible Assets
Finite lived intangible assets, gross	25,403	17,771
Less: accumulated amortization	(889)	(435)
Amortizable intangible assets	$ 24,514	$ 17,336

Goodwill and Other Intangible80

Goodwill and Other Intangibles (Details 4) $ in Thousands	Dec. 31, 2015USD ($)
Net
2,016	$ 162,418
2,016	154,556
2,017	148,031
2,018	135,289
2,019	119,179
Thereafter	561,507
Total	1,280,980
Net Decrease in Lease Revenues
Net
2,016	36,464
2,016	51,494
2,017	48,639
2,018	44,715
2,019	37,053
Thereafter	130,381
Total	348,746
Increase to Amortization/ Property Expenses
Net
2,016	125,954
2,016	103,062
2,017	99,392
2,018	90,574
2,019	82,126
Thereafter	431,126
Total	$ 932,234

Fair Value Measurements (Narrat

Fair Value Measurements (Narratives) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)
Fair value inputs
Number of real estate properties | property	869
CPA: 16 - Global | Maximum
Fair value inputs
Gen and admin to assets ratio	0.45%	0.45%
CPA: 16 - Global | Minimum
Fair value inputs
Gen and admin to assets ratio	0.35%	0.35%
Redeemable noncontrolling interest | Maximum
Fair value inputs
Lack of marketability	20.00%
Discount rate	16.00%
Revenue multiple	8.8
EBITDA multiple	18.8
Termination multiple	7.5
Redeemable noncontrolling interest | Minimum
Fair value inputs
Lack of marketability	10.00%
Discount rate	14.00%
Revenue multiple	1.1
EBITDA multiple	3.2
Termination multiple	5.5
Deferred acquisition fees receivable
Fair value inputs
Illiquidity Adjustment	0.75%
Deferred acquisition fees receivable | Maximum
Fair value inputs
Leverage adjusted unsecured spread	2.13%
Deferred acquisition fees receivable | Minimum
Fair value inputs
Leverage adjusted unsecured spread	2.03%
Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Impairment charges on properties	$ 29,906	$ 23,802	$ 31,813
Industrial facilities in Erlanger, KY | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties	8,700
Building | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties	$ 6,900
Cash flows | Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | Maximum
Fair value inputs
Discount rate		15.75%
Cash flows | Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | Minimum
Fair value inputs
Discount rate		12.75%
Cash flows | Industrial facilities in Erlanger, KY | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Discount rate	9.25%		12.75%
Residual discount rate | Industrial facilities in Erlanger, KY | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Discount rate	9.75%		11.75%
Residual capitalization rates | Industrial facilities in Erlanger, KY | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Discount rate	8.50%		10.00%
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Impairment charges on properties	$ 29,906	$ 23,802	$ 24,550
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties	$ 26,597	21,738	4,673
Number of real estate properties | property	7
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Net investments in direct financing lease
Fair value inputs
Impairment charges on properties	$ 3,309	$ 1,329	68
Number of real estate properties | property	5	8
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments
Fair value inputs
Impairment charges on properties	$ 0	$ 735	19,256
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | Previously Owned Equity Method Investment
Fair value inputs
Impairment charges on properties			3,900
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | CPA 16 Operating Partnership
Fair value inputs
Impairment charges on properties		700	15,400
Continuing Operations | Impaired Properties | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties	$ 10,900	$ 7,800
Number of real estate properties | property	5	13
Continuing Operations | Vacant Properties | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties		$ 14,000
Capitalization rate		8.00%
Discontinued Operations | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Impairment charges on properties	$ 0	$ 0	7,263
Discontinued Operations | Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate
Fair value inputs
Impairment charges on properties	$ 0	$ 0	$ 6,192
Discontinued Operations | Cash flows | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Discount rate			9.50%
Discontinued Operations | Residual discount rate | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Discount rate			7.50%
Discontinued Operations | Residual capitalization rates | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Discount rate			10.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Level 3 | Carrying Value
Liabilities:
Non-recourse debt	$ 2,271,204	$ 2,532,683
Level 3 | Fair Value
Liabilities:
Non-recourse debt	2,293,542	2,574,437
Level 3 | Deferred acquisition fees receivable | Carrying Value
Assets:
Receivable, fair value	33,386	26,913
Level 3 | Deferred acquisition fees receivable | Fair Value
Assets:
Receivable, fair value	32,919	28,027
Level 3 | Notes Receivable | Carrying Value
Assets:
Receivable, fair value	10,689	20,848
Level 3 | Notes Receivable | Fair Value
Assets:
Receivable, fair value	10,610	19,604
Level 2 | Senior Unsecured Notes | Carrying Value
Liabilities:
Non-recourse debt	1,486,568	498,345
Level 2 | Senior Unsecured Notes | Fair Value
Liabilities:
Non-recourse debt	1,459,544	527,029
Level 2 | Senior Unsecured Credit Facility | Carrying Value
Liabilities:
Lines of Credit, Fair Value Disclosure	735,021	1,057,518
Level 2 | Senior Unsecured Credit Facility | Fair Value
Liabilities:
Lines of Credit, Fair Value Disclosure	$ 735,022	$ 1,057,519

Fair Value Measurements (Deta83

Fair Value Measurements (Details 2) - Fair Value, Measurements, Nonrecurring - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Impairment Disclosure
Impairment charges on properties	$ 29,906	$ 23,802	$ 31,813
Impairment Charges in Continuing Operations
Impairment Disclosure
Impairment charges on properties	29,906	23,802	24,550
Impairment Charges in Continuing Operations | Real Estate
Impairment Disclosure
Total fair value measurements	63,027	26,503	15,495
Impairment charges on properties	26,597	21,738	4,673
Impairment Charges in Continuing Operations | Net investments in direct financing lease
Impairment Disclosure
Total fair value measurements	65,132	39,158	891
Impairment charges on properties	3,309	1,329	68
Impairment Charges in Continuing Operations | Equity investments in real estate
Impairment Disclosure
Total fair value measurements	0	0	5,111
Impairment charges on properties	0	735	19,256
Impairment Charges in Continuing Operations | Marketable securities
Impairment Disclosure
Total fair value measurements	0	0	483
Impairment charges on properties	0	0	553
Impairment Charges in Discontinued Operations
Impairment Disclosure
Impairment charges on properties	0	0	7,263
Impairment Charges in Discontinued Operations | Real Estate
Impairment Disclosure
Total fair value measurements	0	0	19,413
Impairment charges on properties	0	0	6,192
Impairment Charges in Discontinued Operations | Operating Real Estate
Impairment Disclosure
Total fair value measurements	0	0	3,709
Impairment charges on properties	$ 0	$ 0	$ 1,071

Risk Management and Use of De84

Risk Management and Use of Derivative Financial Instruments (Narratives) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2014EUR (€)
Footnote Details
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 29,317,000	$ 23,395,000	$ (506,000)
Summary of Derivative Instruments
Total credit exposure on derivatives	44,900,000
Derivatives, net liability position	8,200,000	14,200,000
Aggregate termination value for immediate settlement	8,300,000	14,500,000
Senior Unsecured Credit Facility - Revolver	485,021,000	807,518,000
Individual Counterparty
Summary of Derivative Instruments
Total credit exposure on derivatives	26,300,000
Interest expense
Summary of Derivative Instruments
Estimated amount reclassified from OCI to income, derivatives	1,800,000
Other Income
Summary of Derivative Instruments
Estimated amount reclassified from OCI to income, derivatives	9,300,000
Cash Flow Hedging
Footnote Details
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	5,338,000	(2,794,000)	(2,282,000)
Cash Flow Hedging | Interest rate caps
Footnote Details
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	64,000	290,000	(15,000)
Equity method investments | Cash Flow Hedging
Footnote Details
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	600,000	300,000	500,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 400,000	$ 500,000
Euro | Cash Flow Hedging | Interest rate caps
Footnote Details
Derivative instrument, interest rate	0.90%			0.90%
Derivative, Cap Interest Rate	3.00%			3.00%
Revolving Credit Facility | Euro
Summary of Derivative Instruments
Senior Unsecured Credit Facility - Revolver | €				€ 361,000,000	€ 345,000,000
Revolving Credit Facility | GBP
Summary of Derivative Instruments
Senior Unsecured Credit Facility - Revolver | €					€ 40,000,000
2.0% Senior Euro Notes
Summary of Derivative Instruments
Principal Amount | €				€ 500,000,000

Risk Management and Use of De85

Risk Management and Use of Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value
Asset Derivatives Fair Value at	$ 50,320	$ 20,348
Liability Derivatives Fair Value at	(7,374)	(13,156)
Foreign currency contracts | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	38,975	16,307
Foreign currency collars | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	7,718	0
Interest rate swap | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	0	285
Interest rate swap | Designated as Hedging Instrument | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Liability Derivatives Fair Value at	(4,762)	(5,660)
Interest rate swap | Not Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	9	0
Interest rate swap | Not Designated as Hedging Instrument | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Liability Derivatives Fair Value at	(2,612)	(7,496)
Interest rate caps | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	0	3
Stock warrants | Not Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	$ 3,618	$ 3,753

Risk Management and Use of De86

Risk Management and Use of Derivative Financial Instruments (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	$ 29,317	$ 23,395	$ (506)
Derivatives in Cash Flow Hedging Relationships | Foreign currency contracts
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	15,949	23,167	(5,211)
Derivatives in Cash Flow Hedging Relationships | Foreign currency collars
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	7,769	0	0
Derivatives in Cash Flow Hedging Relationships | Interest rate swap
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	(284)	(2,628)	4,720
Derivatives in Cash Flow Hedging Relationships | Interest rate caps
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	64	290	(15)
Derivatives in Net Investment Hedging Relationships | Foreign currency contracts
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss) Activity
Amount of Gain (Loss) Recognized in Other Comprehensive (Loss) Income on Derivatives (Effective Portion)	$ 5,819	$ 2,566	$ 0

Risk Management and Use of De87

Risk Management and Use of Derivative Financial Instruments (Details 3) - Derivatives in Cash Flow Hedging Relationships - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 5,338	$ (2,794)	$ (2,282)
Foreign currency contracts | Other income and (expenses)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7,272	(103)	(537)
Interest rate swaps and caps | Interest expense
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,291)	(2,691)	(1,745)
Foreign currency collars | Other income and (expenses)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 357	$ 0	$ 0

Risk Management and Use of De88

Risk Management and Use of Derivative Financial Instruments (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 4,965	$ 4,081	$ 5,669
Not Designated as Hedging Instrument | Interest rate swap | Interest expense
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	4,164	3,186	5,249
Not Designated as Hedging Instrument | Foreign currency collars | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	514	0	0
Not Designated as Hedging Instrument | Foreign currency contracts | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	(296)	0	0
Not Designated as Hedging Instrument | Stock warrants | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	(134)	134	440
Cash Flow Hedging | Interest rate swap | Interest expense
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	649	761	(20)
Cash Flow Hedging | Foreign currency collars | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	23	0	0
Cash Flow Hedging | Foreign currency contracts | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 45	$ 0	$ 0

Risk Management and Use of De89

Risk Management and Use of Derivative Financial Instruments (Details 5) € in Thousands, $ in Thousands	Dec. 31, 2015USD ($)instrument	Dec. 31, 2015EUR (€)instrument
Derivative Disclosure
Fair value	$ (7,365)
Not Designated as Hedging Instrument | Interest rate swap | USD
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount	$ 3,127
Fair value	$ 9
Not Designated as Hedging Instrument | Interest rate swap | Euro
Derivative Disclosure
Derivative number of instruments | instrument	2	2
Notional Amount | €		€ 105,110
Fair value	$ (2,612)
Cash Flow Hedging | Interest rate swap | USD
Derivative Disclosure
Derivative number of instruments | instrument	13	13
Notional Amount	$ 122,159
Fair value	$ (4,154)
Cash Flow Hedging | Interest rate swap | Euro
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount | €		€ 6,011
Fair value	$ (608)
Cash Flow Hedging | Interest rate caps | Euro
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount | €		€ 41,372
Fair value	$ 0

Risk Management and Use of De90

Risk Management and Use of Derivative Financial Instruments (Details 6) € in Thousands, £ in Thousands, AUD in Thousands, $ in Thousands	Dec. 31, 2015USD ($)instrument	Dec. 31, 2015GBP (£)instrument	Dec. 31, 2015EUR (€)instrument	Dec. 31, 2015AUDinstrument
Derivative Disclosure
Fair value, foreign currency derivatives	$ 46,693
Cash Flow Hedging | Forward contracts | Euro
Derivative Disclosure
Derivative number of instruments | instrument	52	52	52	52
Notional Amount | €			€ 127,747
Fair value, foreign currency derivatives	$ 27,754
Cash Flow Hedging | Forward contracts | GBP
Derivative Disclosure
Derivative number of instruments | instrument	12	12	12	12
Notional Amount | £		£ 6,420
Fair value, foreign currency derivatives	$ 578
Cash Flow Hedging | Forward contracts | AUD
Derivative Disclosure
Derivative number of instruments | instrument	16	16	16	16
Notional Amount | AUD				AUD 20,302
Fair value, foreign currency derivatives	$ 2,258
Cash Flow Hedging | Foreign currency collars | Euro
Derivative Disclosure
Derivative number of instruments | instrument	25	25	25	25
Notional Amount | €			€ 90,100
Fair value, foreign currency derivatives	$ 4,441
Cash Flow Hedging | Foreign currency collars | GBP
Derivative Disclosure
Derivative number of instruments | instrument	22	22	22	22
Notional Amount | £		£ 48,300
Fair value, foreign currency derivatives	$ 3,277
Derivatives in Net Investment Hedging Relationships | Forward contracts | AUD
Derivative Disclosure
Derivative number of instruments | instrument	5	5	5	5
Notional Amount | AUD				AUD 84,522
Fair value, foreign currency derivatives	$ 8,385

Debt (Narratives) (Details)

Debt (Narratives) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 15, 2015	Jul. 31, 2013
Revolving Line Of Credit
Senior Unsecured Credit Facility - Revolver		$ 485,021,000	$ 807,518,000
Senior Unsecured Notes
Senior Unsecured Notes, net		1,486,568,000	498,345,000
Maximum cash distribution		100,000,000
Non Recourse Debt
Collateral mortgage loan, carrying value		$ 3,000,000,000	3,300,000,000
Debt instrument maturity date, range start		Jan. 31, 2016
Debt instrument maturity date, range end		Jun. 30, 2038
Decrease in value of balance sheet item due to foreign currency translation		$ 125,447,000	117,938,000	$ (21,835,000)
Unamortized discount (premium)		$ 3,555,000
Debt instrument, covenant compliance		We were in compliance with all of these covenants at December 31, 2015 .
Fixed interest rate
Non Recourse Debt
Mortgage loan on real estate, minimum interest rate		2.00%
Mortgage loan on real estate, maximum interest rate		8.70%
Variable interest rate
Non Recourse Debt
Mortgage loan on real estate, minimum interest rate		0.90%
Mortgage loan on real estate, maximum interest rate		7.60%
Revolving Credit Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount		$ 1,500,000,000	1,000,000,000
Amount available for swing line loan			50,000,000
Amount available for letters of credit			50,000,000
Line of credit, amount available in foreign currency			500,000,000		$ 750,000,000
Line of credit facility, available		1,000,000,000
Letters of credit outstanding, amount		$ 1,600,000
Debt Instrument borrowing capacity fee (percentage)		0.20%
Revolving Credit Facility | Standard & Poor's, BBB Rating
Revolving Line Of Credit
Debt instrument, credit rating		BBB
Revolving Credit Facility | Moody's, Baa2 Rating
Revolving Line Of Credit
Debt instrument, credit rating		Baa2
Term Loan Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount			250,000,000
Senior Unsecured Notes
Senior Unsecured Notes
Debt financing cost		$ 7,800,000	$ 4,200,000
Percent of adjusted funds from operations		95.00%
Non Recourse Debt
Unamortized discount (premium)		$ 7,800,000
Non-Recourse Debt
Non Recourse Debt
Debt Instrument, stated interest rate		2.00%
Decrease in value of balance sheet item due to foreign currency translation		$ 166,000,000
Unsecured Term Loan
Revolving Line Of Credit
Line of credit, maximum borrowing amount						$ 300,000,000
Merged Entities
Non Recourse Debt
Unamortized discount (premium)		(4,200,000)
Accordion | Revolving Credit Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount		$ 2,000,000,000			2,250,000,000
Senior Unsecured Credit Facility - Revolver					$ 500,000,000
Senior Unsecured Notes
Debt financing cost	$ 3,100,000

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Capital Lease Obligations
Debt and Capital Lease Obligations	$ 735	$ 1,057.5
Senior Unsecured Credit Facility
Capital Lease Obligations
Debt and Capital Lease Obligations	$ 485	807.5
Senior Unsecured Credit Facility | Euro
Capital Lease Obligations
Maturity Date	Jan. 31, 2018
Debt and Capital Lease Obligations	$ 393	419.4
Senior Unsecured Credit Facility | Euro | LIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.10%
Senior Unsecured Credit Facility | Euro | EURIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.10%
Senior Unsecured Credit Facility | USD
Capital Lease Obligations
Maturity Date	Jan. 31, 2018
Debt and Capital Lease Obligations	$ 92	326
Senior Unsecured Credit Facility | USD | LIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.10%
Senior Unsecured Credit Facility | GBP
Capital Lease Obligations
Maturity Date	Jan. 31, 2018
Debt and Capital Lease Obligations	$ 0	62.1
Term Loan Facility
Capital Lease Obligations
Maturity Date	Jan. 31, 2016
Debt and Capital Lease Obligations	$ 250	$ 250
Term Loan Facility | LIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.25%

Debt (Details 2)

Debt (Details 2)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2014USD ($)
Senior Unsecured Notes
Carrying Value	$ 1,486,568,000		$ 498,345,000
4.6% Senior Notes
Senior Unsecured Notes
Issue Date	Mar. 14, 2014
Principal Amount	$ 500,000,000
Price of Par Value	99.639%	99.639%
Discount	$ 1,800,000
Effective Interest Rate	4.645%	4.645%
Coupon Rate	4.60%
Maturity Date	Apr. 1, 2024
Carrying Value	$ 496,000,000		498,300,000
2.0% Senior Euro Notes
Senior Unsecured Notes
Issue Date	Jan. 21, 2015
Principal Amount | €		€ 500,000,000
Price of Par Value	99.22%	99.22%
Discount	$ 4,600,000
Effective Interest Rate	2.107%	2.107%
Coupon Rate	2.00%
Maturity Date	Jan. 20, 2023
Carrying Value	$ 540,600,000		0
4.0% Senior Notes
Senior Unsecured Notes
Issue Date	Jan. 26, 2015
Principal Amount	$ 450,000,000
Price of Par Value	99.372%	99.372%
Discount	$ 2,800,000
Effective Interest Rate	4.077%	4.077%
Coupon Rate	4.00%
Maturity Date	Feb. 1, 2025
Carrying Value	$ 450,000,000		$ 0

Debt (Details 3)

Debt (Details 3) $ in Thousands	Dec. 31, 2015USD ($)
Long-term Debt, by Maturity
2,016	$ 648,344
2,016	697,749
2,017	750,932
2,018	99,753
2,019	218,995
Thereafter through 2038	2,080,575
Long term debt before unamortized discount	4,496,348
Unamortized discount, net	(3,555)
Total scheduled debt principal payments	$ 4,492,793

Equity (Narratives) (Details)

Equity (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Sep. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 03, 2015	Oct. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award
Distributions declared per share (usd per share)		$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 0.95	$ 0.94	$ 0.9	$ 0.895	$ 3.8261	$ 3.685	$ 3.39
Distributions payable		$ 102,715				$ 100,078				$ 102,715	$ 100,078
Common stock maximum offering, value													$ 400,000
Shares issued in public offering, shares	4,600,000
Common stock, per share value	$ 0.001	$ 0.001				$ 0.001	0.001			$ 0.001	$ 0.001
Share price	$ 64						$ 64
Proceeds from issuance of shares in public offering	$ 282,200									$ 0	$ 282,162	$ 0
Senior Unsecured Credit Facility
Share-based Compensation Arrangement by Share-based Payment Award
Repayments of debt	$ 225,800
Underwriters options
Share-based Compensation Arrangement by Share-based Payment Award
Shares issued in public offering, shares	600,000
Officers | WPCI
Redeemable Noncontrolling Interest
Minority interest ownership interest														7.70%

Equity (Details 1)

Equity (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	$ 3.8115	$ 3.7150	$ 3.1800
Return of capital
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	0.2618	0.0584	0.0099
Ordinary income
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	$ 3.5497	$ 3.6566	$ 3.1701

Equity (Details 2)

Equity (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Net Income Attributable to W. P. Carey	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 32,272	$ 27,337	$ 64,739	$ 115,478	$ 172,258	$ 239,826	$ 98,876
Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income									(579)	(1,007)	(743)
Net income – basic									171,679	238,819	98,133
Income effect of dilutive securities, net of taxes									0	(77)	187
Net income – diluted									$ 171,679	$ 238,742	$ 98,320
Weighted-average shares outstanding – basic (shares)									105,675,692	98,764,164	68,691,046
Effect of dilutive securities (shares)									831,960	1,063,192	1,016,962
Weighted-average shares outstanding – diluted (shares)									106,507,652	99,827,356	69,708,008
Anti-dilutive shares									0	0	114,919

Equity (Details 3)

Equity (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Balance - beginning of period				$ 6,071					$ 6,071
Net income	$ 0	$ 0	$ 0	0	$ (279)	$ (14)	$ (111)	$ 262	0	$ (142)	$ 353
Distributions									(14,713)	(19,719)	(71,820)
Change in other comprehensive income									0	(9)	13
Balance - end of period	14,944				6,071				14,944	6,071
Redeemable Noncontrolling Interest [Member]
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Balance - beginning of period				$ 6,071				$ 7,436	6,071	7,436	7,531
Redemption value adjustment									8,873	(306)	0
Net income									0	(142)	353
Distributions									0	(926)	(435)
Change in other comprehensive income									0	9	(13)
Balance - end of period	$ 14,944				$ 6,071				$ 14,944	$ 6,071	$ 7,436

Equity (Details 4)

Equity (Details 4) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Transfers to Noncontrolling Interest
Net Income Attributable to W. P. Carey	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 32,272	$ 27,337	$ 64,739	$ 115,478	$ 172,258	$ 239,826	$ 98,876
Transfers to noncontrolling interest
Net transfers to noncontrolling interest									0	(41,374)	0
Change from net income attributable to W. P. Carey and transfers to noncontrolling interest									172,258	198,452	98,876
CPA: 16 - Global
Transfers to noncontrolling interest
Net transfers to noncontrolling interest									$ 0	$ (41,374)	$ 0

Equity (Details 5)

Equity (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Balance - beginning of period	$ (75,559)	$ 15,336	$ (4,649)
Other comprehensive income (loss) before reclassifications	(96,041)	(100,037)	19,042
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(5,338)	3,174	2,813
Net current period other comprehensive income (loss)	(101,379)	(96,863)	21,855
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	4,647	5,968	(1,870)
Balance - end of period	(172,291)	(75,559)	15,336
Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	2,291	2,691	1,745
Other income and (expenses)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(7,629)	103	537
Equity in earnings of equity method investments in the Managed Programs and real estate
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)		380	531
Gains and Losses on Derivative Instruments
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Balance - beginning of period	13,597	(7,488)	(7,508)
Other comprehensive income (loss) before reclassifications	29,391	17,911	(2,793)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(5,338)	3,174	2,813
Net current period other comprehensive income (loss)	24,053	21,085	20
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	0	0	0
Balance - end of period	37,650	13,597	(7,488)
Gains and Losses on Derivative Instruments | Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	2,291	2,691	1,745
Gains and Losses on Derivative Instruments | Other income and (expenses)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(7,629)	103	537
Gains and Losses on Derivative Instruments | Equity in earnings of equity method investments in the Managed Programs and real estate
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)		380	531
Foreign Currency Translation Adjustments
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Balance - beginning of period	(89,177)	22,793	2,828
Other comprehensive income (loss) before reclassifications	(125,447)	(117,938)	21,835
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0
Net current period other comprehensive income (loss)	(125,447)	(117,938)	21,835
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	4,647	5,968	(1,870)
Balance - end of period	(209,977)	(89,177)	22,793
Foreign Currency Translation Adjustments | Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0
Foreign Currency Translation Adjustments | Other income and (expenses)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0
Foreign Currency Translation Adjustments | Equity in earnings of equity method investments in the Managed Programs and real estate
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)		0	0
Gains and Losses on Marketable Securities
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Balance - beginning of period	21	31	31
Other comprehensive income (loss) before reclassifications	15	(10)	0
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0
Net current period other comprehensive income (loss)	15	(10)	0
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	0	0	0
Balance - end of period	36	21	31
Gains and Losses on Marketable Securities | Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0
Gains and Losses on Marketable Securities | Other income and (expenses)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	$ 0	0	$ 0
Gains and Losses on Marketable Securities | Equity in earnings of equity method investments in the Managed Programs and real estate
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)		$ 0

Stock-Based Compensation and101

Stock-Based Compensation and Other Compensation (Narratives) (Details) - USD ($)	Dec. 16, 2013	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense					$ 21,626,000	$ 31,075,000	$ 37,195,000
Employee service share-based compensation, tax benefit from compensation expense					12,500,000	17,300,000	18,400,000
Deferred compensation obligation					56,040,000	30,624,000
Options vested during the period, aggregate intrinsic value					58,100,000	56,400,000	21,400,000
Tax benefit recognized from stock awards					3,400,000
Severance costs					$ 800,000	$ 1,000,000	$ 700,000
RSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period					189,893	188,619	185,015
PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period					75,277	89,653	86,189
PSUs Awarded | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Potential performance return rate for stock awards					0	0	0
PSUs Awarded | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Potential performance return rate for stock awards					3	3	3
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense					$ 100,000	$ 300,000	$ 1,200,000
Share-based compensation arrangement by share-based payment award, maximum employee contribution rate					10.00%
Share based compensation, effective share purchase price for participant					90.00%	85.00%	85.00%
Proceeds from stock plans					$ 500,000	$ 1,900,000	$ 2,300,000
Maximum annual contribution per employee, amount					26,500
Partnership Equity Unit Plan
Share-based Compensation Arrangement by Share-based Payment Award
Deferred compensation liability					$ 700,000	$ 700,000
Payment of deferred compensation	$ 200,000
Stock options required to be issued					40,904	41,074
Deferred compensation obligation					$ 1,100,000	$ 1,100,000
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock options required to be issued					1,395,907	848,788
Deferred compensation obligation					$ 55,000,000	$ 29,600,000
Risk free interest rate					1.00%
Fair value assumptions expected volatility rate					20.20%
Fair value assumptions expected volatility rate peer index					13.50%
Fair value assumptions expected dividend rate					0.00%
Unrecognized stock based compensation expense					$ 20,100,000
Weighted-average remaining term					1 year 8 months 9 days
Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation arrangement by share-based payment award, maximum employee contribution rate					15.00%
Maximum percentage of annual contribution allowed by employees					10.00%	10.00%
Maximum annual contribution per employee, amount						$ 26,000
Profit sharing expense					$ 4,100,000	$ 3,500,000	$ 4,500,000
2009 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for grant					5,900,000
Shares available for grant					2,361,843
Share-based award description					The 2009 Incentive Plan provides for the grant of (i) stock options, (ii) RSUs, (iii) PSUs, and (iv) dividend equivalent rights. The vesting of grants under both plans is accelerated upon a change in our control and under certain other conditions.
2009 Incentive Plan | RSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period					173,741	172,460	171,804
2009 Incentive Plan | PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period					75,277	89,653	85,900
2009 Incentive Plan | Employment agreements | RSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period						10,500	20,250
2009 Incentive Plan | Employment agreements | PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Performance stock awards excluded from LTIP count					10,000	10,000	10,000
2009 Non-Employee Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for grant					325,000
Shares available for grant					199,553
Stock based incentive plan shares issued, shares		16,152	16,159	13,211
Stock based incentive plan shares issued, value		$ 1,000,000	$ 1,000,000	$ 900,000
1997 Directors Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average remaining term on stock option					10 years
Vesting period for stock options					3 years
1997 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average remaining term on stock option					10 years
Vesting period for stock options					4 years
Options exercised during the period, aggregate intrinsic value					$ 7,400,000	$ 4,900,000	$ 5,700,000

Stock-Based Compensation and102

Stock-Based Compensation and Other Compensation (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock And RSU Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested, beginning balance - shares	442,502	519,608	594,194
Granted - shares	189,893	188,619	185,015
Vested - shares	(264,628)	(264,724)	(233,098)
Forfeited - shares	(10,996)	(1,001)	(26,503)
Adjustments - shares	0	0	0
Nonvested, ending balance - shares	356,771	442,502	519,608
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Nonvested, beginning balance, weighted average grant date fair value (in dollars per share)	$ 53.03	$ 45.19	$ 37.15
Granted, weighted average grant date fair value (in dollars per share)	69.92	61.08	57.69
Vested, weighted average grant date fair value (in dollars per share)	49.69	43.35	36.76
Forfeited, weighted average grant date fair value (in dollars per share)	66.46	59.45	43.05
Adjustments, weighted average grant date fair value (in dollars per share)	0	0	0
Nonvested, weighted average grant date fair value (in dollars per share)	$ 64.09	$ 53.03	$ 45.19
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested, beginning balance - shares	877,641	1,220,720	999,513
Granted - shares	75,277	89,653	86,189
Vested - shares	(792,465)	(881,388)	(324,161)
Forfeited - shares	0	(78)	(30,108)
Adjustments - shares	179,905	448,734	489,287
Nonvested, ending balance - shares	340,358	877,641	1,220,720
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Nonvested, beginning balance, weighted average grant date fair value (in dollars per share)	$ 32.06	$ 28.28	$ 34.55
Granted, weighted average grant date fair value (in dollars per share)	83.68	76.05	84.33
Vested, weighted average grant date fair value (in dollars per share)	56.77	51	39.48
Forfeited, weighted average grant date fair value (in dollars per share)	0	54.31	50.52
Adjustments, weighted average grant date fair value (in dollars per share)	49.70	55.91	67.22
Nonvested, weighted average grant date fair value (in dollars per share)	$ 52.26	$ 32.06	$ 28.28

Stock-Based Compensation and103

Stock-Based Compensation and Other Compensation (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding
Outstanding - beginning of year - shares	475,765	619,601	794,210
Exercised - shares	(213,479)	(140,718)	(169,412)
Canceled/Expired - shares	(3,499)	(3,118)	(5,197)
Outstanding - end of year - shares	258,787	475,765	619,601
Vested and expected to vest - end of year - shares	258,787
Exercisable - end of year - shares	236,112	421,656	511,811
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Outstanding - beginning of year - weighted average exercise price	$ 29.95	$ 30.30	$ 30.32
Exercised - weighted average exercise price	28.57	31.41	30.43
Canceled/Expired - weighted average exercise price	28.71	32.99	29.84
Outstanding - end of year - weighted average exercise price	31.10	29.95	30.30
Vested and expected to vest - end of year - weighted average exercise price	31.10
Exercisable - end of year - weighted average exercise price	$ 30.99	$ 29.75	$ 30.18
Outstanding - end of year - weighted average contractual term (in Years)	1 year 22 days	1 year 9 months	2 years 7 months 2 days
Vested and expected to vest - end of year - weighted average contractual term (in Years)	1 year 22 days
Exercisable - end of year - weighted average contractual term (in Years)	11 months 27 days
Outstanding - end of year - aggregate intrinsic value	$ 7,220,287
Vested and expected to vest - end of year - aggregate intrinsic value	7,220,287
Exercisable - end of year - aggregate intrinsic value	$ 6,613,542

Income Taxes (Narratives) (Deta

Income Taxes (Narratives) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency
Net operating loss carryforwards		$ 19,553	$ 16,627
Valuation allowance		29,746	20,672
Deferred tax asset		12,600	13,700
Accrual for uncertain tax positions		700
Deferred income tax asset net of valuation		$ 36,095	$ 42,758
Minimum
Income Tax Contingency
Open tax years by major jurisdictions		2,015
Maximum
Income Tax Contingency
Open tax years by major jurisdictions		2,009
Federal
Income Tax Contingency
Operating loss carryforwards,initial expiration date		Dec. 31, 2034
State and Local
Income Tax Contingency
Operating loss carryforwards,initial expiration date		Dec. 31, 2034
Foreign
Income Tax Contingency
Operating loss carryforwards,initial expiration date		Dec. 31, 2012
Deferred Tax Asset
Income Tax Contingency
Out of period adjustment	$ 2,300
Deferred Tax Liability
Income Tax Contingency
Out of period adjustment	37,500
Deferred Tax Provision
Income Tax Contingency
Out of period adjustment	$ 2,000

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal
Current	$ 10,551	$ 19,545	$ 8,274
Deferred	1,901	(7,609)	(13,029)
Federal income taxes	12,452	11,936	(4,755)
State and Local
Current	9,075	13,422	4,970
Deferred	1,158	(4,693)	(3,665)
State and local taxes	10,233	8,729	1,305
Foreign
Current	16,656	6,869	7,144
Deferred	(1,720)	(9,925)	(2,442)
Foreign income taxes	14,936	(3,056)	4,702
Total provision	$ 37,621	$ 17,609	$ 1,252

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount
Income from continuing operations before income taxes, net of amounts attributable to noncontrolling interests	$ 209,879	$ 223,938	$ 85,889
Pre-tax income attributable to pass-through subsidiaries	(137,536)	(202,807)	(96,314)
Pre-tax income (loss) attributable to taxable subsidiaries	72,343	21,131	(10,425)
Federal provision at statutory tax rate (35%)	25,244	7,396	(3,649)
Rate differential	(10,589)
Change in valuation allowance	9,074
Non-deductible expense	6,982
State and local taxes, net of federal benefit	6,151	2,296	(166)
Exempt income	(5,475)
Recognition of taxable income as a result of the CPA®:16 Merger		4,833	0
Interest		2,111	0
Dividend income from Managed REITs		939	0
Amortization of intangible assets		0	492
Other	1,053	893	(302)
Tax provision — taxable subsidiaries	32,440	18,468	(3,625)
Non-income taxes	5,181
Deferred foreign tax benefit	(1,720)	(9,925)	(2,442)
Current foreign taxes		6,869	7,144
Other state and local taxes		2,197	175
Total provision	$ 37,621	$ 17,609	$ 1,252
Effective Income Tax Rate Reconciliation, Percent
Income tax rate - federal	35.00%	35.00%	(35.00%)
Income tax rate - rate differential	(14.60%)
Income tax rate - change in valuation allowance	12.50%
Income tax rate - non-deductible expense	9.60%
Income tax rate - state and local	8.40%	10.90%	(1.60%)
Income tax rate - exempt income	(7.60%)
Income tax rate - deferred revenue		22.90%	0.00%
Income tax rate - interest		10.00%	0.00%
Income tax rate - dividend income from Managed REITs		4.40%	0.00%
Income tax rate - amortization of intangible assets		0.00%	4.70%
Income tax rate - other	1.50%	4.20%	(2.90%)
Income tax rate - total	44.80%	87.40%	(34.80%)

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets
Unearned and deferred compensation	$ 35,525	$ 36,955
Net operating loss carryforwards	19,553	16,627
Basis differences — foreign investments	6,975	6,576
Other	3,788	3,272
Total deferred tax assets	65,841	63,430
Valuation allowance	(29,746)	(20,672)
Net deferred tax assets	36,095	42,758
Deferred Tax Liabilities
Basis differences — foreign investments	(81,058)	(95,619)
Basis differences — equity investees	(19,925)	(19,044)
Deferred revenue	(8,654)	(8,546)
Total deferred tax liabilities	(109,637)	(123,209)
Net Deferred Tax Liability	$ (73,542)	$ (80,451)

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits
Beginning balance	$ 2,055	$ 109
Addition based on tax positions related to the current year	1,510	1,946
Addition based on tax positions related to prior years	1,447	0
Decrease due to lapse in statute of limitations	(572)	0
Foreign currency translation adjustments	(136)	0
Ending balance	$ 4,304	$ 2,055

Property Dispositions and Di109

Property Dispositions and Discontinued Operations (Narratives) (Details) $ in Thousands	1 Months Ended		3 Months Ended	5 Months Ended	6 Months Ended	12 Months Ended
	Jul. 31, 2015USD ($)	Nov. 30, 2013propertyofficer	Dec. 31, 2015USD ($)property	Jun. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2014EUR (€)	Dec. 31, 2013USD ($)property	Jan. 31, 2014USD ($)property	Nov. 27, 2013USD ($)	Dec. 31, 2012property
Discontinued Operation Additional Disclosures
Loss from operations						$ (178,740)	$ (211,170)		$ (94,317)
Gain (loss) on sale of real estate, net of tax						6,487	1,581		(332)
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale						1,762	3,762		13,118
Net investment in properties			$ 5,011,145			5,011,145	4,833,074				$ 33,625
Non-recourse debt			2,271,204			2,271,204	2,532,683				$ 21,023
Assets held for sale			$ 59,046			$ 59,046	$ 7,255
Number of real estate properties | property			869			869
Proceeds from sales of direct financing lease									5,500
Loss on sale of direct financing lease									300
CPA: 16 - Global
Discontinued Operation Additional Disclosures
Loss from operations				$ (91,100)
Net investment in properties										$ 1,970,175
Non-recourse debt										1,768,288
Assets held for sale										133,415
Assets held-for-sale
Discontinued Operation Additional Disclosures
Number of properties held for sale | property			2			2
Number of real estate properties | property							4
Assets held-for-sale
Discontinued Operation Additional Disclosures
Impairment recognized on asset to be disposed									3,900
Assets held-for-sale | CPA: 16 - Global
Discontinued Operation Additional Disclosures
Financing cost				$ 15,000	$ 15,000
Continuing Operations
Discontinued Operation Additional Disclosures
Impairment recognized on asset to be disposed						$ 1,400
Gain (Loss) on extinguishment of debt, net of tax						(5,300)
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale						1,700
Proceeds from rental properties						25,000
Capitalized termination income						22,200
Lease termination income						15,000
Extinguishment of debt, amount						36,500
Deposits received for real estate			$ 12,700
Proceeds from sales of direct financing lease									5,500
Loss on sale of direct financing lease									(300)
Continuing Operations | France
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties | €								€ 1,000
Gain (loss) on sale of real estate, net of tax									6,700
Impairment recognized on asset to be disposed									4,700
Net investment in properties							$ 14,500
Non-recourse debt									19,400
Continuing Operations | Assets held-for-sale
Discontinued Operation Additional Disclosures
Properties sold | property							13
Proceeds from the sale of properties							$ 45,600
Gain (loss) on sale of real estate, net of tax	$ 600						(5,100)
Scheduled impairment expense							1,800
Impairment recognized on asset to be disposed							1,700		100
Gain (Loss) on extinguishment of debt, net of tax						$ 2,100
Proceeds from sale of foreclosed assets	$ 1,400
Lease termination income							(8,400)
Continuing Operations | Assets held-for-sale | Retail Facility
Discontinued Operation Additional Disclosures
Properties sold			13			13
Proceeds from the sale of properties						$ 35,700
Gain (loss) on sale of real estate, net of tax						5,900
Scheduled impairment expense						6,000
Impairment recognized on asset to be disposed						2,700	3,300
Continuing Operations | Manufacturing Facility
Discontinued Operation Additional Disclosures
Contract selling price							5,800
Continuing Operations | Manufacturing Facility | Third Party Purchaser
Discontinued Operation Additional Disclosures
Contract selling price							1,400
Accounts receivable							5,500
Continuing Operations | Manufacturing Facility | Previous Tenant
Discontinued Operation Additional Disclosures
Contract selling price							$ 4,400
Continuing Operations | Domestic
Discontinued Operation Additional Disclosures
Properties sold | property							2
Gain (loss) on sale of real estate, net of tax							$ (100)
Impairment recognized on asset to be disposed							3,500
Proceeds from sale of foreclosed assets							8,300
Carrying value of assets to be disposed of			$ 55,200			55,200
Carrying value of foreclosed property							8,300
Mortgage loans on real estate, foreclosures							8,500
Continuing Operations | Foreign
Discontinued Operation Additional Disclosures
Carrying value of assets to be disposed of			$ 3,900			3,900
Continuing Operations | Contracted Properties
Discontinued Operation Additional Disclosures
Impairment recognized on asset to be disposed							1,300
Contract selling price							$ 10,000
Number of properties held for sale | property							4
Discontinued Operations
Discontinued Operation Additional Disclosures
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale							$ 7,000
Discontinued Operations | Self-storage
Discontinued Operation Additional Disclosures
Properties sold | property		19
Proceeds from the sale of properties									112,300
Gain (loss) on sale of real estate, net of tax									39,600
Gain (Loss) on extinguishment of debt, net of tax									(2,500)
Payment of mortgage obligation									45,100
Number of real estate properties | property		20
Number of Officers | officer		2
Ownership Interest In Joint Ventures		38.30%
Distributions to noncontrolling interest holders									40,800
Discontinued Operations | Self-storage | Noncontrolling interest
Discontinued Operation Additional Disclosures
Gain (loss) on sale of real estate, net of tax									24,400
Gain (Loss) on extinguishment of debt, net of tax									$ (1,500)
Discontinued Operations | Self-storage | Third Party
Discontinued Operation Additional Disclosures
Ownership Interest In Joint Ventures		60.00%
Discontinued Operations | Assets held-for-sale
Discontinued Operation Additional Disclosures
Properties sold | property									9
Proceeds from the sale of properties							116,400		$ 22,700
Gain (loss) on sale of real estate, net of tax							28,000		600
Impairment recognized on asset to be disposed							3,100		3,400
Gain (Loss) on extinguishment of debt, net of tax							(100)		100
Contract selling price									$ 117,500
Number of properties held for sale | property									9			7
Payment of mortgage obligation							$ 11,400		$ 5,700
Discontinued Operations | Assets held-for-sale | CPA: 16 - Global
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties					123,400
Gain (loss) on sale of real estate, net of tax					(300)
Gain (Loss) on extinguishment of debt, net of tax					(1,200)
Assets held for sale										$ 133,400
Payment of mortgage obligation					$ 18,900
Number of real estate properties | property							10			10
Discontinued Operations | Assets held-for-sale | CPA: 16 - Global | Jointly Owned Investments
Discontinued Operation Additional Disclosures
Number of real estate properties | property										5
Discontinued Operations | Hotel
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties									3,700
Gain (loss) on sale of real estate, net of tax									(200)
Impairment recognized on asset to be disposed									1,100
Real Estate Investments
Discontinued Operation Additional Disclosures
Gain (loss) on sale of real estate, net of tax						6,487	$ 1,581		(332)
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale						1,762	3,762		13,118
Real Estate Investments | Discontinued Operations
Discontinued Operation Additional Disclosures
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale							2,700
Officers | Discontinued Operations | Self-storage
Discontinued Operation Additional Disclosures
Ownership Interest In Joint Ventures		1.70%
Continued Operations
Discontinued Operation Additional Disclosures
Loss from operations						(12,120)	2,132		4,605
Gain (loss) on sale of real estate, net of tax						$ 6,487	1,338		(332)
Continued Operations | Noncontrolling interest
Discontinued Operation Additional Disclosures
Loss from operations							$ 100		$ 2,700

Property Dispositions and Di110

Property Dispositions and Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 248,831	$ 197,006	$ 253,414	$ 209,195	$ 938,383	$ 908,446	$ 489,851
Expenses	$ (150,902)	$ (159,066)	$ (130,382)	$ (140,479)	$ (176,239)	$ (128,174)	$ (161,360)	$ (171,605)	(580,829)	(637,378)	(352,706)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Impairment charges									(29,906)	(23,067)	(5,294)
Provision for income taxes									(37,621)	(17,609)	(1,252)
Income from continuing operations before gain (loss) on sale of real estate									178,740	211,170	94,317
Continued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues									32,416	21,427	15,762
Expenses									(19,306)	(17,707)	(15,872)
Gain (loss) on sale of real estate, net of tax									6,487	1,338	(332)
Impairment charges									(4,071)	(8,537)	(4,741)
(Loss) gain on extinguishment of debt									(3,179)	0	113
Provision for income taxes									(227)	1,347	465
Income from continuing operations before gain (loss) on sale of real estate									$ 12,120	$ (2,132)	$ (4,605)

Property Dispositions and Di111

Property Dispositions and Discontinued Operations (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Income from discontinued operations	$ 0	$ 33,318	$ 38,180
CPA: 16 - Global | Discontinued Operations, Held-for-sale
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	0	8,931	28,951
Expenses	0	(2,039)	(19,984)
Loss on extinguishment of debt	0	(1,244)	(2,415)
Gain on sale of real estate	0	27,670	40,043
Impairment charges	0	0	(8,415)
Income from discontinued operations	$ 0	$ 33,318	$ 38,180

Segment Reporting (Narratives)

Segment Reporting (Narratives) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment		2
Merger, property acquisition, and other expenses		$ (7,764)	$ 34,465	$ 9,230
Segment Reporting Information Profit Loss
Reimbursable tenant and affiliate costs		78,669	155,074	86,886
Real estate tax expense, adjustment		57,700	59,800	37,300
Stock-based compensation expense		21,626	31,075	37,195
Strategic initiative expense		5,700
Gain on change in control of interests		0	105,947	0
Investment Management | Operating Segments
Segment Reporting Information Profit Loss
Stock-based compensation expense		13,800	18,400	30,000
Strategic initiative expense		$ 2,100
CPA: 16 - Global | Real Estate Ownership | Operating Segments
Segment Reporting Information [Line Items]
Merger, property acquisition, and other expenses			$ 30,500	$ 5,000
Germany
Segment Reporting Information Profit Loss
Real estate tax expense, adjustment	$ (25,000)

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information Profit Loss
Revenues	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 248,831	$ 197,006	$ 253,414	$ 209,195	$ 938,383	$ 908,446	$ 489,851
Operating expenses	(150,902)	(159,066)	(130,382)	(140,479)	(176,239)	(128,174)	(161,360)	(171,605)	(580,829)	(637,378)	(352,706)
Interest expense									(194,326)	(178,122)	(103,728)
Other income and expenses, excluding interest expense (e)									53,133	135,833	62,152
Provision for income taxes									(37,621)	(17,609)	(1,252)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Net income attributable to noncontrolling interests	(5,095)	(1,833)	(3,575)	(2,466)	(1,470)	(993)	(2,344)	(1,578)	(12,969)	(6,385)	(32,936)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Net loss (income) attributable to redeemable noncontrolling interests	$ 0	$ 0	$ 0	$ 0	$ 279	$ 14	$ 111	$ (262)	0	142	(353)
Income from continuing operations attributable to W. P. Carey									172,258	206,329	84,637
Real Estate Ownership
Segment Reporting Information Profit Loss
Revenues									735,448	645,383	315,965
Operating expenses									(426,814)	(404,674)	(178,962)
Interest expense									(194,326)	(178,122)	(103,728)
Provision for income taxes									(17,948)	916	(4,703)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Net income attributable to noncontrolling interests									(10,961)	(5,573)	(33,056)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Income from continuing operations attributable to W. P. Carey									146,810	194,890	80,276
Real Estate Ownership | Operating Segments
Segment Reporting Information Profit Loss
Revenues									735,448	645,383	315,965
Operating expenses									(426,814)	(404,674)	(178,962)
Interest expense									(194,326)	(178,122)	(103,728)
Other income and expenses, excluding interest expense (e)									54,924	135,558	61,151
Provision for income taxes									(17,948)	916	(4,703)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Net income attributable to noncontrolling interests									(10,961)	(5,573)	(33,056)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Income from continuing operations attributable to W. P. Carey									146,810	194,890	80,276
Investment Management | Operating Segments
Segment Reporting Information Profit Loss
Revenues									202,935	263,063	173,886
Operating expenses									(154,015)	(232,704)	(173,744)
Other income and expenses, excluding interest expense (e)									(1,791)	275	1,001
Provision for income taxes									(19,673)	(18,525)	3,451
Net income attributable to noncontrolling interests									(2,008)	(812)	120
Net loss (income) attributable to redeemable noncontrolling interests									0	142	(353)
Income from continuing operations attributable to W. P. Carey									$ 25,448	$ 11,439	$ 4,361

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Long-lived assets	$ 6,102,017	$ 5,905,958
Total assets	8,754,673	8,648,479
Real Estate Ownership
Assets
Long-lived assets	6,079,803	5,880,958
Total assets	8,550,128	8,459,406
Real Estate Ownership | Operating Segments
Assets
Long-lived assets	6,079,803	5,880,958
Total assets	8,550,128	8,459,406
Investment Management | Operating Segments
Assets
Long-lived assets	22,214	25,000
Total assets	$ 204,545	$ 189,073

Segment Reporting (Details 3)

Segment Reporting (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information Profit Loss
Revenues	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 248,831	$ 197,006	$ 253,414	$ 209,195	$ 938,383	$ 908,446	$ 489,851
Operating expenses	(150,902)	(159,066)	(130,382)	(140,479)	(176,239)	(128,174)	(161,360)	(171,605)	(580,829)	(637,378)	(352,706)
Interest expense									(194,326)	(178,122)	(103,728)
Provision for income taxes									(37,621)	(17,609)	(1,252)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Net income attributable to noncontrolling interests	$ (5,095)	$ (1,833)	$ (3,575)	$ (2,466)	$ (1,470)	$ (993)	$ (2,344)	$ (1,578)	(12,969)	(6,385)	(32,936)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Income from continuing operations attributable to W. P. Carey									172,258	206,329	84,637
Real Estate Investments
Segment Reporting Information Profit Loss
Revenues									735,448	645,383	315,965
Operating expenses									(426,814)	(404,674)	(178,962)
Interest expense									(194,326)	(178,122)	(103,728)
Other income and expenses, excluding interest expense									54,924	135,558	61,151
Provision for income taxes									(17,948)	916	(4,703)
Gain (loss) on sale of real estate, net of tax									6,487	1,581	(332)
Net income attributable to noncontrolling interests									(10,961)	(5,573)	(33,056)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Income from continuing operations attributable to W. P. Carey									146,810	194,890	80,276
Domestic | Real Estate Investments
Segment Reporting Information Profit Loss
Revenues									468,703	426,578	218,758
Operating expenses									(296,265)	(284,362)	(126,493)
Interest expense									(153,219)	(117,603)	(65,970)
Other income and expenses, excluding interest expense									50,891	146,156	88,593
Provision for income taxes									(6,219)	(3,238)	13
Gain (loss) on sale of real estate, net of tax									2,941	(5,119)	(332)
Net income attributable to noncontrolling interests									(5,358)	(4,233)	(34,321)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	(179)	23,941
Income from continuing operations attributable to W. P. Carey									61,474	158,000	104,189
Germany | Real Estate Investments
Segment Reporting Information Profit Loss
Revenues									65,777	72,978	20,221
Operating expenses									818	(40,847)	(3,011)
Interest expense									(15,432)	(18,880)	(5,020)
Other income and expenses, excluding interest expense									4,175	(10,698)	(29,284)
Provision for income taxes									(4,357)	3,163	(1,693)
Gain (loss) on sale of real estate, net of tax									21	0	0
Net income attributable to noncontrolling interests									(5,537)	(1,017)	(3,188)
Income from continuing operations attributable to W. P. Carey									45,465	4,699	(21,975)
Other International | Real Estate Investments
Segment Reporting Information Profit Loss
Revenues									200,968	145,827	76,986
Operating expenses									(131,367)	(79,465)	(49,458)
Interest expense									(25,675)	(41,639)	(32,738)
Other income and expenses, excluding interest expense									(142)	100	1,842
Provision for income taxes									(7,372)	991	(3,023)
Gain (loss) on sale of real estate, net of tax									3,525	6,700	0
Net income attributable to noncontrolling interests									(66)	(323)	4,453
Income from continuing operations attributable to W. P. Carey									$ 39,871	$ 32,191	$ (1,938)

Segment Reporting (Details 4)

Segment Reporting (Details 4) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Long-lived assets	$ 6,102,017	$ 5,905,958
Total assets	8,754,673	8,648,479
Real Estate Investments
Assets
Long-lived assets	6,079,803	5,880,958
Total assets	8,550,128	8,459,406
Domestic | Real Estate Investments
Assets
Long-lived assets	3,794,232	3,804,430
Total assets	5,447,818	5,567,383
Germany | Real Estate Investments
Assets
Long-lived assets	581,283	609,739
Total assets	790,890	875,840
Other International | Real Estate Investments
Assets
Long-lived assets	1,704,288	1,466,789
Total assets	$ 2,311,420	$ 2,016,183

Selected Quarterly Financial117

Selected Quarterly Financial Information (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interim Period, Costs Not Allocable
Real estate tax expense, adjustment		$ 57,700	$ 59,800	$ 37,300
Gain on change in control of interests		$ 0	$ 105,947	$ 0
Impact of change in shares outstanding on basic and dilutive earnings per share			$ 0.09
Germany
Interim Period, Costs Not Allocable
Real estate tax expense, adjustment	$ (25,000)
Domestic | Assets held-for-sale
Interim Period, Costs Not Allocable
Lease termination income	$ 15,000

Selected Quarterly Financial118

Selected Quarterly Financial Data Selected Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Data
Revenues	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 248,831	$ 197,006	$ 253,414	$ 209,195	$ 938,383	$ 908,446	$ 489,851
Expenses	150,902	159,066	130,382	140,479	176,239	128,174	161,360	171,605	580,829	637,378	352,706
Net income	56,144	23,578	66,923	38,582	33,463	28,316	66,972	117,318	185,227	246,069	132,165
Net income attributable to noncontrolling interests	(5,095)	(1,833)	(3,575)	(2,466)	(1,470)	(993)	(2,344)	(1,578)	(12,969)	(6,385)	(32,936)
Net loss (income) attributable to redeemable noncontrolling interest	0	0	0	0	279	14	111	(262)	0	142	(353)
Net Income Attributable to W. P. Carey	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 32,272	$ 27,337	$ 64,739	$ 115,478	$ 172,258	$ 239,826	$ 98,876
Earnings per share attributable to W. P. Carey:
Basic (usd per share)	$ 0.48	$ 0.20	$ 0.60	$ 0.34	$ 0.31	$ 0.27	$ 0.64	$ 1.29	$ 1.62	$ 2.42	$ 1.43
Diluted (usd per share)	0.48	0.20	0.59	0.34	0.30	0.27	0.64	1.27	1.61	2.39	1.41
Distributions declared per share (usd per share)	$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 0.95	$ 0.94	$ 0.9	$ 0.895	$ 3.8261	$ 3.685	$ 3.39

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Jan. 29, 2016	Feb. 23, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event
Severance costs				$ 0.8	$ 1	$ 0.7
Subsequent Event
Subsequent Event
Severance costs			$ 5.1
Senior Unsecured Credit Facility | Subsequent Event
Subsequent Event
Debt financing cost	$ 0.3
Long Term Incentive Plan | RSUs Awarded | Subsequent Event
Subsequent Event
Share based compensation shares issued		210,249
Long Term Incentive Plan | Performance Stock Units | Subsequent Event
Subsequent Event
Share based compensation shares issued		184,755

Schedule II - Valuation And 120

Schedule II - Valuation And Qualifying Accounts (Details) - Valuation reserve for deferred tax assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 20,672	$ 18,214	$ 15,133
Other Additions	10,001	2,458	3,081
Deductions	(927)	0	0
Balance at End of Year	$ 29,746	$ 20,672	$ 18,214

Schedule III - Real Estate a121

Schedule III - Real Estate and Accumulated Depreciation (Narratives) (Details) $ in Billions	Dec. 31, 2015USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Federal income tax	$ 7.5

Schedule III - Real Estate a122

Schedule III - Real Estate and Accumulated Depreciation (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed
Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,080,307
Initial Cost to Company
Land	1,279,611
Buildings	4,268,407
Cost Capitalized Subsequent to Acquisition	189,559
Increase (Decrease) in Net Investments	(429,366)
Gross Amount at which Carried at Close of Period
Land	1,160,567
Buildings	4,147,644
Total	5,308,211	$ 4,976,685	$ 2,506,804	$ 2,331,613
Accumulated Depreciation	372,735	253,627	168,076	116,075
Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	162,470
Initial Cost to Company
Land	110,357
Buildings	756,237
Cost Capitalized Subsequent to Acquisition	9
Increase (Decrease) in Net Investments	(110,250)
Gross Amount at which Carried at Close of Period
Total	756,353
Operating Real Estate
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	45,981
Initial Cost to Company
Land	10,230
Buildings	77,994
Cost Capitalized Subsequent to Acquisition	945
Increase (Decrease) in Net Investments	(13,689)
Gross Amount at which Carried at Close of Period
Land	6,578
Buildings	68,558
Total	82,749	84,885	6,024	99,703
Accumulated Depreciation	8,794	$ 4,866	$ 882	$ 19,993
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	7,269
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	7,613
Industrial facilities in Erlanger, KY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	11,107
Initial Cost to Company
Land	1,526
Buildings	21,427
Cost Capitalized Subsequent to Acquisition	2,966
Increase (Decrease) in Net Investments	141
Gross Amount at which Carried at Close of Period
Land	1,526
Buildings	24,534
Total	26,060
Accumulated Depreciation	$ 11,396
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facilities in Thurmont, MD and Farmington, NY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	729
Buildings	5,903
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	729
Buildings	5,903
Total	6,632
Accumulated Depreciation	$ 663
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Retail facility in Montgomery, AL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	855
Buildings	6,762
Cost Capitalized Subsequent to Acquisition	277
Increase (Decrease) in Net Investments	(6,978)
Gross Amount at which Carried at Close of Period
Land	142
Buildings	774
Total	916
Accumulated Depreciation	$ 471
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facilities in Anchorage, AK and Commerce, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,905
Buildings	11,898
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	12
Gross Amount at which Carried at Close of Period
Land	4,905
Buildings	11,910
Total	16,815
Accumulated Depreciation	$ 3,421
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Toledo, OH | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	224
Buildings	2,408
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	224
Buildings	2,408
Total	2,632
Accumulated Depreciation	$ 1,304
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Goshen, IN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	239
Buildings	940
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	239
Buildings	940
Total	1,179
Accumulated Depreciation	$ 274
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Raleigh, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,638
Buildings	2,844
Cost Capitalized Subsequent to Acquisition	187
Increase (Decrease) in Net Investments	(2,554)
Gross Amount at which Carried at Close of Period
Land	828
Buildings	1,287
Total	2,115
Accumulated Depreciation	$ 666
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Office facility in King of Prussia, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,219
Buildings	6,283
Cost Capitalized Subsequent to Acquisition	1,295
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,219
Buildings	7,578
Total	8,797
Accumulated Depreciation	$ 3,248
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Pinconning, MI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	32
Buildings	1,692
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	32
Buildings	1,692
Total	1,724
Accumulated Depreciation	$ 761
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facilities in San Fernando, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,658
Initial Cost to Company
Land	2,052
Buildings	5,322
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,889)
Gross Amount at which Carried at Close of Period
Land	1,494
Buildings	3,991
Total	5,485
Accumulated Depreciation	$ 1,814
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	9,382
Buildings	0
Cost Capitalized Subsequent to Acquisition	238
Increase (Decrease) in Net Investments	3,371
Gross Amount at which Carried at Close of Period
Land	9,210
Buildings	3,781
Total	12,991
Accumulated Depreciation	$ 668
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Land in Glendora, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,135
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	17
Gross Amount at which Carried at Close of Period
Land	1,152
Buildings	0
Total	1,152
Accumulated Depreciation	0
Land in Doraville, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	3,288
Buildings	9,864
Cost Capitalized Subsequent to Acquisition	1,546
Increase (Decrease) in Net Investments	(11,410)
Gross Amount at which Carried at Close of Period
Land	3,288
Buildings	0
Total	3,288
Accumulated Depreciation	$ 0
Life on which Depreciation in Latest Statement of Income is Computed
Office facilities in Collierville, TN and warehouse facility in Corpus Christi, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 48,320
Initial Cost to Company
Land	3,490
Buildings	72,497
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(15,609)
Gross Amount at which Carried at Close of Period
Land	288
Buildings	60,090
Total	60,378
Accumulated Depreciation	$ 9,853
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Land in Irving and Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	9,795
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	9,795
Buildings	0
Total	9,795
Accumulated Depreciation	0
Industrial facility in Chandler, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	9,891
Initial Cost to Company
Land	5,035
Buildings	18,957
Cost Capitalized Subsequent to Acquisition	7,435
Increase (Decrease) in Net Investments	541
Gross Amount at which Carried at Close of Period
Land	5,035
Buildings	26,933
Total	31,968
Accumulated Depreciation	$ 11,313
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Bridgeton, MO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	842
Buildings	4,762
Cost Capitalized Subsequent to Acquisition	2,523
Increase (Decrease) in Net Investments	71
Gross Amount at which Carried at Close of Period
Land	842
Buildings	7,356
Total	8,198
Accumulated Depreciation	$ 2,566
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facilities in Drayton Plains, MI and Citrus Heights, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,039
Buildings	4,788
Cost Capitalized Subsequent to Acquisition	202
Increase (Decrease) in Net Investments	193
Gross Amount at which Carried at Close of Period
Land	1,039
Buildings	5,183
Total	6,222
Accumulated Depreciation	$ 1,438
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Warehouse facility in Memphis, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,882
Buildings	3,973
Cost Capitalized Subsequent to Acquisition	255
Increase (Decrease) in Net Investments	(3,893)
Gross Amount at which Carried at Close of Period
Land	328
Buildings	1,889
Total	2,217
Accumulated Depreciation	$ 834
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Retail facility in Bellevue, WA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,125
Buildings	11,812
Cost Capitalized Subsequent to Acquisition	393
Increase (Decrease) in Net Investments	(123)
Gross Amount at which Carried at Close of Period
Land	4,371
Buildings	11,836
Total	16,207
Accumulated Depreciation	$ 5,219
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,260
Buildings	22,574
Cost Capitalized Subsequent to Acquisition	1,628
Increase (Decrease) in Net Investments	(23,754)
Gross Amount at which Carried at Close of Period
Land	211
Buildings	3,497
Total	3,708
Accumulated Depreciation	$ 2,620
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Rio Rancho, NM | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,313
Initial Cost to Company
Land	1,190
Buildings	9,353
Cost Capitalized Subsequent to Acquisition	1,742
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,467
Buildings	10,818
Total	12,285
Accumulated Depreciation	$ 4,550
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Moorestown, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	351
Buildings	5,981
Cost Capitalized Subsequent to Acquisition	1,470
Increase (Decrease) in Net Investments	43
Gross Amount at which Carried at Close of Period
Land	351
Buildings	7,494
Total	7,845
Accumulated Depreciation	$ 3,430
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Norcross, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 26,951
Initial Cost to Company
Land	5,200
Buildings	25,585
Cost Capitalized Subsequent to Acquisition	11,822
Increase (Decrease) in Net Investments	(28,152)
Gross Amount at which Carried at Close of Period
Land	2,646
Buildings	11,809
Total	14,455
Accumulated Depreciation	$ 481
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Illkirch, France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,322
Initial Cost to Company
Land	0
Buildings	18,520
Cost Capitalized Subsequent to Acquisition	6
Increase (Decrease) in Net Investments	1,041
Gross Amount at which Carried at Close of Period
Land	0
Buildings	19,567
Total	19,567
Accumulated Depreciation	$ 9,224
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facilities in Lenexa, KS and Winston-Salem, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,860
Buildings	12,539
Cost Capitalized Subsequent to Acquisition	2,875
Increase (Decrease) in Net Investments	(1,067)
Gross Amount at which Carried at Close of Period
Land	1,725
Buildings	14,482
Total	16,207
Accumulated Depreciation	$ 4,279
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facilities in Playa Vista and Venice, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 46,741
Initial Cost to Company
Land	2,032
Buildings	10,152
Cost Capitalized Subsequent to Acquisition	52,817
Increase (Decrease) in Net Investments	1
Gross Amount at which Carried at Close of Period
Land	5,889
Buildings	59,113
Total	65,002
Accumulated Depreciation	$ 8,184
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facility in Greenfield, IN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,807
Buildings	10,335
Cost Capitalized Subsequent to Acquisition	223
Increase (Decrease) in Net Investments	(8,383)
Gross Amount at which Carried at Close of Period
Land	967
Buildings	4,015
Total	4,982
Accumulated Depreciation	$ 1,282
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facilities in Birmingham, AL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,256
Buildings	7,704
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,256
Buildings	7,704
Total	8,960
Accumulated Depreciation	$ 2,175
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Scottsdale, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,102
Initial Cost to Company
Land	586
Buildings	46
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	586
Buildings	46
Total	632
Accumulated Depreciation	$ 13
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facility in Hot Springs, AR | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	850
Buildings	2,939
Cost Capitalized Subsequent to Acquisition	2
Increase (Decrease) in Net Investments	(2,614)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	1,177
Total	1,177
Accumulated Depreciation	$ 333
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facilities in Apopka, FL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	362
Buildings	10,855
Cost Capitalized Subsequent to Acquisition	783
Increase (Decrease) in Net Investments	(155)
Gross Amount at which Carried at Close of Period
Land	337
Buildings	11,508
Total	11,845
Accumulated Depreciation	$ 3,091
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Land in San Leandro, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,532
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,532
Buildings	0
Total	1,532
Accumulated Depreciation	0
Sports facility in Austin, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	2,664
Initial Cost to Company
Land	1,725
Buildings	5,168
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,725
Buildings	5,168
Total	6,893
Accumulated Depreciation	$ 1,647
Life on which Depreciation in Latest Statement of Income is Computed	29 years
Retail facility in Wroclaw, Poland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,544
Initial Cost to Company
Land	3,600
Buildings	10,306
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,061)
Gross Amount at which Carried at Close of Period
Land	2,722
Buildings	7,123
Total	9,845
Accumulated Depreciation	$ 1,430
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Fort Worth, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 31,870
Initial Cost to Company
Land	4,600
Buildings	37,580
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,600
Buildings	37,580
Total	42,180
Accumulated Depreciation	$ 5,558
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facility in Mallorca, Spain | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	11,109
Buildings	12,636
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,104)
Gross Amount at which Carried at Close of Period
Land	10,106
Buildings	11,535
Total	21,641
Accumulated Depreciation	$ 1,606
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facilities in San Diego, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 32,661
Initial Cost to Company
Land	7,247
Buildings	29,098
Cost Capitalized Subsequent to Acquisition	1,214
Increase (Decrease) in Net Investments	(5,514)
Gross Amount at which Carried at Close of Period
Land	4,762
Buildings	27,283
Total	32,045
Accumulated Depreciation	$ 5,376
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facilities in Florence, AL; Snellville, GA; Concord, NC; Rockport, TX; and Virginia Beach, VA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 22,000
Initial Cost to Company
Land	5,646
Buildings	12,367
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	5,646
Buildings	12,367
Total	18,013
Accumulated Depreciation	$ 1,085
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 137,717
Initial Cost to Company
Land	32,680
Buildings	198,999
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	32,680
Buildings	198,999
Total	231,679
Accumulated Depreciation	$ 17,801
Hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Hotels in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	37 years
Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,597
Initial Cost to Company
Land	4,403
Buildings	20,298
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(3,870)
Gross Amount at which Carried at Close of Period
Land	2,589
Buildings	18,242
Total	20,831
Accumulated Depreciation	$ 1,442
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Land in Irvine, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,625
Initial Cost to Company
Land	4,173
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,173
Buildings	0
Total	4,173
Accumulated Depreciation	0
Industrial facility in Alpharetta, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,197
Initial Cost to Company
Land	2,198
Buildings	6,349
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,198
Buildings	6,349
Total	8,547
Accumulated Depreciation	$ 688
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Office facility in Clinton, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 22,947
Initial Cost to Company
Land	2,866
Buildings	34,834
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,866
Buildings	34,834
Total	37,700
Accumulated Depreciation	$ 3,776
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Office facilities in St. Petersburg, FL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,280
Buildings	24,627
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,280
Buildings	24,627
Total	27,907
Accumulated Depreciation	$ 2,662
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Movie theater in Baton Rouge, LA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,524
Initial Cost to Company
Land	4,168
Buildings	5,724
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,168
Buildings	5,724
Total	9,892
Accumulated Depreciation	$ 621
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Office facilities in San Diego, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,804
Buildings	16,729
Cost Capitalized Subsequent to Acquisition	1,656
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	7,804
Buildings	18,385
Total	26,189
Accumulated Depreciation	$ 1,969
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facilities in Richmond, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	895
Buildings	1,953
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	895
Buildings	1,953
Total	2,848
Accumulated Depreciation	$ 212
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial and warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 58,262
Initial Cost to Company
Land	16,386
Buildings	84,668
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	16,386
Buildings	84,668
Total	101,054
Accumulated Depreciation	$ 9,103
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Warehouse facilities in Lens, Nimes, Colomiers, Thuit Hebert, Ploufragen, and Cholet, France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	15,779
Buildings	89,421
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(16,139)
Gross Amount at which Carried at Close of Period
Land	13,359
Buildings	75,702
Total	89,061
Accumulated Depreciation	$ 8,191
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facilities in Orlando, FL; Rocky Mount, NC, and Lewisville, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,163
Buildings	17,715
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,163
Buildings	17,715
Total	19,878
Accumulated Depreciation	$ 1,920
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facilities in Chattanooga, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	558
Buildings	5,923
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	558
Buildings	5,923
Total	6,481
Accumulated Depreciation	$ 635
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facility in Mooresville, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,077
Initial Cost to Company
Land	756
Buildings	9,775
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	756
Buildings	9,775
Total	10,531
Accumulated Depreciation	$ 1,045
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facility in McCalla, AL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	960
Buildings	14,472
Cost Capitalized Subsequent to Acquisition	6,350
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	960
Buildings	20,822
Total	21,782
Accumulated Depreciation	$ 2,450
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facility in Lower Makefield Township, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,549
Initial Cost to Company
Land	1,726
Buildings	12,781
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,726
Buildings	12,781
Total	14,507
Accumulated Depreciation	$ 1,363
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facility in Fort Smith, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,063
Buildings	6,159
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,063
Buildings	6,159
Total	7,222
Accumulated Depreciation	$ 651
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Retail facilities in Greenwood, IN and Buffalo, NY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,755
Initial Cost to Company
Land	0
Buildings	19,990
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	0
Buildings	19,990
Total	19,990
Accumulated Depreciation	$ 2,092
Retail facilities in Greenwood, IN and Buffalo, NY | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Retail facilities in Greenwood, IN and Buffalo, NY | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Bowling Green, KY and Jackson, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,391
Initial Cost to Company
Land	1,492
Buildings	8,182
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,492
Buildings	8,182
Total	9,674
Accumulated Depreciation	$ 863
Industrial facilities in Bowling Green, KY and Jackson, TN | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Learning centers in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 32,553
Initial Cost to Company
Land	14,006
Buildings	33,683
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,961)
Gross Amount at which Carried at Close of Period
Land	12,045
Buildings	33,683
Total	45,728
Accumulated Depreciation	$ 3,422
Learning centers in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Learning centers in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,146
Initial Cost to Company
Land	6,559
Buildings	19,078
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,559
Buildings	19,078
Total	25,637
Accumulated Depreciation	$ 1,996
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 12,339
Initial Cost to Company
Land	6,080
Buildings	23,424
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,080
Buildings	23,424
Total	29,504
Accumulated Depreciation	$ 2,431
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Land in Kahl, Germany | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	6,694
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,027)
Gross Amount at which Carried at Close of Period
Land	5,667
Buildings	0
Total	5,667
Accumulated Depreciation	0
Sports facilities in Englewood, CO; Memphis TN; and Bedford, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,925
Initial Cost to Company
Land	4,877
Buildings	4,258
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	4,823
Gross Amount at which Carried at Close of Period
Land	4,877
Buildings	9,081
Total	13,958
Accumulated Depreciation	$ 993
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facilities in Mons, Belgium | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,820
Initial Cost to Company
Land	1,505
Buildings	6,026
Cost Capitalized Subsequent to Acquisition	653
Increase (Decrease) in Net Investments	(1,285)
Gross Amount at which Carried at Close of Period
Land	1,274
Buildings	5,625
Total	6,899
Accumulated Depreciation	$ 543
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Warehouse facilities in Oceanside, CA and Concordville, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,667
Initial Cost to Company
Land	3,333
Buildings	8,270
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,333
Buildings	8,270
Total	11,603
Accumulated Depreciation	$ 861
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Self-storage facilities located throughout the United States | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	74,551
Buildings	319,186
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(50)
Gross Amount at which Carried at Close of Period
Land	74,501
Buildings	319,186
Total	393,687
Accumulated Depreciation	$ 32,867
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facility in La Vista, NE | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 21,137
Initial Cost to Company
Land	4,196
Buildings	23,148
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,196
Buildings	23,148
Total	27,344
Accumulated Depreciation	$ 2,247
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Office facility in Pleasanton, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,478
Initial Cost to Company
Land	3,675
Buildings	7,468
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,675
Buildings	7,468
Total	11,143
Accumulated Depreciation	$ 767
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facility in San Marcos, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	440
Buildings	688
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	440
Buildings	688
Total	1,128
Accumulated Depreciation	$ 71
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facilities in Espoo, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 40,826
Initial Cost to Company
Land	40,555
Buildings	15,662
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(20,107)
Gross Amount at which Carried at Close of Period
Land	26,980
Buildings	9,130
Total	36,110
Accumulated Depreciation	$ 79
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facility in Chicago, IL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 14,217
Initial Cost to Company
Land	2,169
Buildings	19,010
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,169
Buildings	19,010
Total	21,179
Accumulated Depreciation	$ 1,937
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Louisville, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,997
Initial Cost to Company
Land	5,342
Buildings	8,786
Cost Capitalized Subsequent to Acquisition	1,849
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	5,481
Buildings	10,496
Total	15,977
Accumulated Depreciation	$ 1,220
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Hollywood and Orlando, FL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,639
Buildings	1,269
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,639
Buildings	1,269
Total	4,908
Accumulated Depreciation	$ 129
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facility in Golden, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	808
Buildings	4,304
Cost Capitalized Subsequent to Acquisition	77
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	808
Buildings	4,381
Total	5,189
Accumulated Depreciation	$ 489
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facilities in Texarkana, TX and Orem, UT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,755
Buildings	4,493
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,755
Buildings	4,493
Total	6,248
Accumulated Depreciation	$ 458
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Eugene, OR | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,460
Initial Cost to Company
Land	2,286
Buildings	3,783
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,286
Buildings	3,783
Total	6,069
Accumulated Depreciation	$ 385
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Neenah, WI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	438
Buildings	4,954
Cost Capitalized Subsequent to Acquisition	64
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	438
Buildings	5,018
Total	5,456
Accumulated Depreciation	$ 506
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in South Jordan, UT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 12,246
Initial Cost to Company
Land	2,183
Buildings	11,340
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,183
Buildings	11,340
Total	13,523
Accumulated Depreciation	$ 1,156
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facility in Ennis, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,333
Initial Cost to Company
Land	478
Buildings	4,087
Cost Capitalized Subsequent to Acquisition	145
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	478
Buildings	4,232
Total	4,710
Accumulated Depreciation	$ 499
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Retail facility in Braintree, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,127
Initial Cost to Company
Land	2,409
Buildings	0
Cost Capitalized Subsequent to Acquisition	6,184
Increase (Decrease) in Net Investments	(1,403)
Gross Amount at which Carried at Close of Period
Land	1,006
Buildings	6,184
Total	7,190
Accumulated Depreciation	$ 380
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Office facility in Helsinki, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 58,756
Initial Cost to Company
Land	26,560
Buildings	20,735
Cost Capitalized Subsequent to Acquisition	92
Increase (Decrease) in Net Investments	(7,256)
Gross Amount at which Carried at Close of Period
Land	22,485
Buildings	17,646
Total	40,131
Accumulated Depreciation	$ 1,770
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Office facility in Paris, France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 58,508
Initial Cost to Company
Land	23,387
Buildings	43,450
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(10,255)
Gross Amount at which Carried at Close of Period
Land	19,799
Buildings	36,783
Total	56,582
Accumulated Depreciation	$ 3,653
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 114,073
Initial Cost to Company
Land	26,564
Buildings	72,866
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(15,255)
Gross Amount at which Carried at Close of Period
Land	22,488
Buildings	61,687
Total	84,175
Accumulated Depreciation	$ 8,412
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Office facility in Laupheim, Germany | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,072
Buildings	8,339
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,598)
Gross Amount at which Carried at Close of Period
Land	1,754
Buildings	7,059
Total	8,813
Accumulated Depreciation	$ 1,149
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Industrial facilities in Danbury, CT and Bedford, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,144
Initial Cost to Company
Land	3,519
Buildings	16,329
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,519
Buildings	16,329
Total	19,848
Accumulated Depreciation	$ 1,776
Life on which Depreciation in Latest Statement of Income is Computed	29 years
Warehouse facilities in Venlo, Netherlands | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	10,154
Buildings	18,590
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,678)
Gross Amount at which Carried at Close of Period
Land	8,501
Buildings	15,565
Total	24,066
Accumulated Depreciation	$ 1,224
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Industrial and office facilities in Tampere, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,309
Buildings	37,153
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(6,506)
Gross Amount at which Carried at Close of Period
Land	1,904
Buildings	31,052
Total	32,956
Accumulated Depreciation	$ 2,561
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Quincy, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,316
Buildings	21,537
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,316
Buildings	21,537
Total	23,853
Accumulated Depreciation	$ 1,493
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Salford, United Kingdom | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	30,012
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,553)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	28,459
Total	28,459
Accumulated Depreciation	$ 1,704
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Lone Tree, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,761
Buildings	28,864
Cost Capitalized Subsequent to Acquisition	1,377
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,761
Buildings	30,241
Total	35,002
Accumulated Depreciation	$ 1,738
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Mönchengladbach, Germany | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 29,449
Initial Cost to Company
Land	2,154
Buildings	6,917
Cost Capitalized Subsequent to Acquisition	44,205
Increase (Decrease) in Net Investments	(1,241)
Gross Amount at which Carried at Close of Period
Land	2,091
Buildings	49,944
Total	52,035
Accumulated Depreciation	$ 415
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Sports facility in Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,340
Initial Cost to Company
Land	2,430
Buildings	2,270
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,430
Buildings	2,270
Total	4,700
Accumulated Depreciation	$ 194
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Sports facility in St. Charles, MO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,966
Buildings	1,368
Cost Capitalized Subsequent to Acquisition	80
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,966
Buildings	1,448
Total	3,414
Accumulated Depreciation	$ 101
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Sports facility in Salt Lake City, UT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,918
Initial Cost to Company
Land	856
Buildings	2,804
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	856
Buildings	2,804
Total	3,660
Accumulated Depreciation	$ 208
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Land in Scottsdale, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,599
Initial Cost to Company
Land	22,300
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	22,300
Buildings	0
Total	22,300
Accumulated Depreciation	0
Industrial facility in Aurora, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,056
Initial Cost to Company
Land	737
Buildings	2,609
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	737
Buildings	2,609
Total	3,346
Accumulated Depreciation	$ 158
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Office facilities in Sunnyvale, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 52,922
Initial Cost to Company
Land	43,489
Buildings	73,035
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	43,489
Buildings	73,035
Total	116,524
Accumulated Depreciation	$ 5,626
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Warehouse facility in Burlington, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,989
Buildings	6,213
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,989
Buildings	6,213
Total	10,202
Accumulated Depreciation	$ 468
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Industrial facility in Albuquerque, NM | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,467
Buildings	3,476
Cost Capitalized Subsequent to Acquisition	606
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,467
Buildings	4,082
Total	6,549
Accumulated Depreciation	$ 270
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facilities in Robbinsville, NJ; North Salt Lake, UT; and Radford, VA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,472
Initial Cost to Company
Land	10,601
Buildings	17,626
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(6,780)
Gross Amount at which Carried at Close of Period
Land	7,894
Buildings	13,553
Total	21,447
Accumulated Depreciation	$ 991
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Industrial facilities in Murrysville, PA and Wylie, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,185
Buildings	12,058
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	1
Gross Amount at which Carried at Close of Period
Land	2,185
Buildings	12,059
Total	14,244
Accumulated Depreciation	$ 859
Industrial facilities in Murrysville, PA and Wylie, TX | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facilities in Murrysville, PA and Wylie, TX | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facility in Welcome, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	980
Buildings	11,230
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	980
Buildings	11,230
Total	12,210
Accumulated Depreciation	$ 774
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 26,453
Initial Cost to Company
Land	4,005
Buildings	44,192
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,005
Buildings	44,192
Total	48,197
Accumulated Depreciation	$ 3,547
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 20,142
Initial Cost to Company
Land	8,451
Buildings	25,457
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	298
Gross Amount at which Carried at Close of Period
Land	8,451
Buildings	25,755
Total	34,206
Accumulated Depreciation	$ 1,716
Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	17 years
Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Retail facility in Torrance, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 24,188
Initial Cost to Company
Land	8,412
Buildings	12,241
Cost Capitalized Subsequent to Acquisition	1,213
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	8,412
Buildings	13,454
Total	21,866
Accumulated Depreciation	$ 982
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Office facility in Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,503
Initial Cost to Company
Land	6,578
Buildings	424
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,578
Buildings	424
Total	7,002
Accumulated Depreciation	$ 13
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Land in Doncaster, United Kingdom | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,257
Buildings	4,248
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(7,767)
Gross Amount at which Carried at Close of Period
Land	738
Buildings	0
Total	738
Accumulated Depreciation	0
Warehouse facility in Norwich, CT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	11,450
Initial Cost to Company
Land	3,885
Buildings	21,342
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	2
Gross Amount at which Carried at Close of Period
Land	3,885
Buildings	21,344
Total	25,229
Accumulated Depreciation	$ 1,446
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facility in Norwich, CT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,437
Buildings	9,669
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,437
Buildings	9,669
Total	11,106
Accumulated Depreciation	$ 655
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Retail facility in Johnstown, PA and warehouse facility in Whitehall, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,435
Buildings	9,093
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	17
Gross Amount at which Carried at Close of Period
Land	7,435
Buildings	9,110
Total	16,545
Accumulated Depreciation	$ 755
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Retail facilities in York, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,860
Initial Cost to Company
Land	3,776
Buildings	10,092
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,776
Buildings	10,092
Total	13,868
Accumulated Depreciation	$ 623
Retail facilities in York, PA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Retail facilities in York, PA | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Industrial facility in Pittsburgh, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,151
Buildings	10,938
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,151
Buildings	10,938
Total	12,089
Accumulated Depreciation	$ 845
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Warehouse facilities in Atlanta, GA and Elkwood, VA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,356
Buildings	4,121
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,104)
Gross Amount at which Carried at Close of Period
Land	4,284
Buildings	3,089
Total	7,373
Accumulated Depreciation	$ 215
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facility in Harrisburg, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,753
Buildings	5,840
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(111)
Gross Amount at which Carried at Close of Period
Land	1,642
Buildings	5,840
Total	7,482
Accumulated Depreciation	$ 428
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Learning center in Nashville, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,402
Initial Cost to Company
Land	1,098
Buildings	7,043
Cost Capitalized Subsequent to Acquisition	816
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,098
Buildings	7,859
Total	8,957
Accumulated Depreciation	$ 478
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facilities in Boé, Carpiquet, Lagnieu, Le Mans, Lunéville, and Saint-Germain-du-Puy, France and land in Le Mans and Vendin-le-Vieil, France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 38,350
Initial Cost to Company
Land	62,183
Buildings	26,928
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(19,517)
Gross Amount at which Carried at Close of Period
Land	48,253
Buildings	21,341
Total	69,594
Accumulated Depreciation	$ 1,440
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facility in Chandler, AZ; industrial, office, and warehouse facilities in Englewood, CO; and land in Englewood, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,456
Initial Cost to Company
Land	4,306
Buildings	7,235
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	3
Gross Amount at which Carried at Close of Period
Land	4,306
Buildings	7,238
Total	11,544
Accumulated Depreciation	$ 458
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facility in Cynthiana, KY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,556
Initial Cost to Company
Land	1,274
Buildings	3,505
Cost Capitalized Subsequent to Acquisition	176
Increase (Decrease) in Net Investments	(107)
Gross Amount at which Carried at Close of Period
Land	1,274
Buildings	3,574
Total	4,848
Accumulated Depreciation	$ 219
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Columbia, SC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,387
Initial Cost to Company
Land	2,843
Buildings	11,886
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,843
Buildings	11,886
Total	14,729
Accumulated Depreciation	$ 1,007
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Land in Midlothian, VA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,390
Initial Cost to Company
Land	2,824
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,824
Buildings	0
Total	2,824
Accumulated Depreciation	0
Residential facility in Laramie, WY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	16,125
Initial Cost to Company
Land	1,966
Buildings	18,896
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,966
Buildings	18,896
Total	20,862
Accumulated Depreciation	$ 2,160
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Office facility in Greenville, SC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,784
Initial Cost to Company
Land	562
Buildings	7,916
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	43
Gross Amount at which Carried at Close of Period
Land	562
Buildings	7,959
Total	8,521
Accumulated Depreciation	$ 607
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Warehouse facilities in Mendota, IL; Toppenish and Yakima, WA; and Plover, WI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,729
Initial Cost to Company
Land	1,444
Buildings	21,208
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,444
Buildings	21,208
Total	22,652
Accumulated Depreciation	$ 1,810
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Industrial facility in Allen, TX and office facility in Sunnyvale, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 11,259
Initial Cost to Company
Land	9,297
Buildings	24,086
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	9,297
Buildings	24,086
Total	33,383
Accumulated Depreciation	$ 1,491
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Hampton, NH | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,641
Initial Cost to Company
Land	8,990
Buildings	7,362
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	8,990
Buildings	7,362
Total	16,352
Accumulated Depreciation	$ 464
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Industrial facilities located throughout France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 20,481
Initial Cost to Company
Land	36,306
Buildings	5,212
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(8,312)
Gross Amount at which Carried at Close of Period
Land	29,038
Buildings	4,168
Total	33,206
Accumulated Depreciation	$ 349
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Retail facility in Fairfax, VA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,114
Initial Cost to Company
Land	3,402
Buildings	16,353
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,402
Buildings	16,353
Total	19,755
Accumulated Depreciation	$ 1,188
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Retail facility in Lombard, IL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,114
Initial Cost to Company
Land	5,087
Buildings	8,578
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	5,087
Buildings	8,578
Total	13,665
Accumulated Depreciation	$ 623
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Warehouse facility in Plainfield, IN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 20,529
Initial Cost to Company
Land	1,578
Buildings	29,415
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,578
Buildings	29,415
Total	30,993
Accumulated Depreciation	$ 1,856
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Retail facility in Kennesaw, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,111
Initial Cost to Company
Land	2,849
Buildings	6,180
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,849
Buildings	6,180
Total	9,029
Accumulated Depreciation	$ 449
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Retail facility in Leawood, KS | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,094
Initial Cost to Company
Land	1,487
Buildings	13,417
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,487
Buildings	13,417
Total	14,904
Accumulated Depreciation	$ 975
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Office facility in Tolland, CT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,158
Initial Cost to Company
Land	1,817
Buildings	5,709
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	11
Gross Amount at which Carried at Close of Period
Land	1,817
Buildings	5,720
Total	7,537
Accumulated Depreciation	$ 399
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facilities in Lincolnton, NC and Mauldin, SC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,946
Initial Cost to Company
Land	1,962
Buildings	9,247
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,962
Buildings	9,247
Total	11,209
Accumulated Depreciation	$ 630
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Retail facilities located throughout Germany | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 272,225
Initial Cost to Company
Land	81,109
Buildings	153,927
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(47,054)
Gross Amount at which Carried at Close of Period
Land	64,871
Buildings	123,111
Total	187,982
Accumulated Depreciation	8,306
Office facility in Southfield, MI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,726
Buildings	4,856
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,726
Buildings	4,856
Total	6,582
Accumulated Depreciation	$ 301
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Office facility in The Woodlands, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 20,705
Initial Cost to Company
Land	3,204
Buildings	24,997
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,204
Buildings	24,997
Total	28,201
Accumulated Depreciation	$ 1,519
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Industrial facility in Guelph, Canada | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,472
Initial Cost to Company
Land	2,151
Buildings	1,750
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(760)
Gross Amount at which Carried at Close of Period
Land	1,732
Buildings	1,409
Total	3,141
Accumulated Depreciation	$ 83
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Industrial facilities in Shah Alam, Malaysia | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,021
Initial Cost to Company
Land	0
Buildings	10,429
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,340)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	8,089
Total	8,089
Accumulated Depreciation	$ 519
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Warehouse facilities in Lam Luk Ka and Bang Pa-in, Thailand | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,751
Initial Cost to Company
Land	13,054
Buildings	19,497
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,723)
Gross Amount at which Carried at Close of Period
Land	11,962
Buildings	17,866
Total	29,828
Accumulated Depreciation	$ 1,098
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facilities in Valdosta, GA and Johnson City, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,444
Initial Cost to Company
Land	1,080
Buildings	14,998
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,080
Buildings	14,998
Total	16,078
Accumulated Depreciation	$ 1,079
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facility in Amherst, NY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,227
Initial Cost to Company
Land	674
Buildings	7,971
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	674
Buildings	7,971
Total	8,645
Accumulated Depreciation	$ 680
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Industrial and warehouse facilities in Westfield, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,922
Buildings	9,755
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	9
Gross Amount at which Carried at Close of Period
Land	1,922
Buildings	9,764
Total	11,686
Accumulated Depreciation	$ 682
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facilities in Kottka, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	8,546
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,711)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	6,835
Total	6,835
Accumulated Depreciation	$ 599
Warehouse facilities in Kottka, Finland | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Warehouse facilities in Kottka, Finland | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Office facility in Bloomington, MN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,942
Buildings	7,155
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,942
Buildings	7,155
Total	10,097
Accumulated Depreciation	$ 483
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facility in Gorinchem, Netherlands | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,816
Initial Cost to Company
Land	1,143
Buildings	5,648
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,360)
Gross Amount at which Carried at Close of Period
Land	914
Buildings	4,517
Total	5,431
Accumulated Depreciation	$ 305
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Retail facility in Cresskill, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,138
Initial Cost to Company
Land	2,366
Buildings	5,482
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	19
Gross Amount at which Carried at Close of Period
Land	2,366
Buildings	5,501
Total	7,867
Accumulated Depreciation	$ 338
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Retail facility in Livingston, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,309
Initial Cost to Company
Land	2,932
Buildings	2,001
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	14
Gross Amount at which Carried at Close of Period
Land	2,932
Buildings	2,015
Total	4,947
Accumulated Depreciation	$ 142
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Retail facility in Maplewood, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,662
Initial Cost to Company
Land	845
Buildings	647
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	4
Gross Amount at which Carried at Close of Period
Land	845
Buildings	651
Total	1,496
Accumulated Depreciation	$ 46
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Retail facility in Montclair, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,445
Initial Cost to Company
Land	1,905
Buildings	1,403
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	6
Gross Amount at which Carried at Close of Period
Land	1,905
Buildings	1,409
Total	3,314
Accumulated Depreciation	$ 99
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Retail facility in Morristown, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,815
Initial Cost to Company
Land	3,258
Buildings	8,352
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	26
Gross Amount at which Carried at Close of Period
Land	3,258
Buildings	8,378
Total	11,636
Accumulated Depreciation	$ 590
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Retail facility in Summit, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,695
Initial Cost to Company
Land	1,228
Buildings	1,465
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	8
Gross Amount at which Carried at Close of Period
Land	1,228
Buildings	1,473
Total	2,701
Accumulated Depreciation	$ 104
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial and office facilities in Bunde, Dransfeld, and Wolfach, Germany | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,789
Buildings	8,750
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,269)
Gross Amount at which Carried at Close of Period
Land	2,231
Buildings	7,039
Total	9,270
Accumulated Depreciation	$ 553
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Industrial facilities in Georgetown, TX and Woodland, WA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,099
Initial Cost to Company
Land	965
Buildings	4,113
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	965
Buildings	4,113
Total	5,078
Accumulated Depreciation	$ 233
Industrial facilities in Georgetown, TX and Woodland, WA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Industrial facilities in Georgetown, TX and Woodland, WA | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Learning centers in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,365
Buildings	7,845
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	5
Gross Amount at which Carried at Close of Period
Land	5,365
Buildings	7,850
Total	13,215
Accumulated Depreciation	$ 540
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facility in Ylämylly, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,066
Initial Cost to Company
Land	1,669
Buildings	6,034
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,542)
Gross Amount at which Carried at Close of Period
Land	1,335
Buildings	4,826
Total	6,161
Accumulated Depreciation	$ 271
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Industrial facility in Salisbury, NC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,398
Initial Cost to Company
Land	1,499
Buildings	8,185
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,499
Buildings	8,185
Total	9,684
Accumulated Depreciation	$ 564
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial and office facilities in Plymouth, MI and Solon and Twinsburg, OH | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,763
Initial Cost to Company
Land	2,831
Buildings	10,565
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,831
Buildings	10,565
Total	13,396
Accumulated Depreciation	$ 744
Industrial and office facilities in Plymouth, MI and Solon and Twinsburg, OH | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Industrial and office facilities in Plymouth, MI and Solon and Twinsburg, OH | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facility in Cambridge, Canada | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,849
Buildings	7,371
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,796)
Gross Amount at which Carried at Close of Period
Land	1,489
Buildings	5,935
Total	7,424
Accumulated Depreciation	$ 364
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 12,252
Initial Cost to Company
Land	2,962
Buildings	17,832
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,962
Buildings	17,832
Total	20,794
Accumulated Depreciation	$ 1,092
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Ramos Arizpe, Mexico | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,059
Buildings	2,886
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,059
Buildings	2,886
Total	3,945
Accumulated Depreciation	$ 176
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Salt Lake City, UT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,863
Initial Cost to Company
Land	2,783
Buildings	3,773
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,783
Buildings	3,773
Total	6,556
Accumulated Depreciation	$ 231
Industrial facilities in Salt Lake City, UT | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facilities in Salt Lake City, UT | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Residential facility in Blairsville, PA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 12,143
Initial Cost to Company
Land	1,631
Buildings	23,163
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,631
Buildings	23,163
Total	24,794
Accumulated Depreciation	$ 2,384
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Industrial facility in Nashville, TN | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,078
Buildings	5,619
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,078
Buildings	5,619
Total	6,697
Accumulated Depreciation	$ 504
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Office facility in Lafayette, LA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,748
Initial Cost to Company
Land	1,048
Buildings	1,507
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,048
Buildings	1,507
Total	2,555
Accumulated Depreciation	$ 106
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 54,099
Initial Cost to Company
Land	6,488
Buildings	77,192
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,488
Buildings	77,192
Total	83,680
Accumulated Depreciation	$ 5,178
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Warehouse facilities in Flora, MS and Muskogee, OK | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,410
Initial Cost to Company
Land	554
Buildings	4,353
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	554
Buildings	4,353
Total	4,907
Accumulated Depreciation	$ 254
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Industrial facility in Richmond, MO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,842
Initial Cost to Company
Land	2,211
Buildings	8,505
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,211
Buildings	8,505
Total	10,716
Accumulated Depreciation	$ 590
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Warehouse facility in Dallas, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,066
Initial Cost to Company
Land	468
Buildings	8,042
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	468
Buildings	8,042
Total	8,510
Accumulated Depreciation	$ 652
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Industrial facility in Tuusula, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	6,173
Buildings	10,321
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(3,302)
Gross Amount at which Carried at Close of Period
Land	4,937
Buildings	8,255
Total	13,192
Accumulated Depreciation	$ 619
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Office facility in Turku, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 23,852
Initial Cost to Company
Land	5,343
Buildings	34,106
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(7,898)
Gross Amount at which Carried at Close of Period
Land	4,273
Buildings	27,278
Total	31,551
Accumulated Depreciation	$ 1,875
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facility in Turku, Finland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,412
Initial Cost to Company
Land	1,105
Buildings	10,243
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,257)
Gross Amount at which Carried at Close of Period
Land	884
Buildings	8,207
Total	9,091
Accumulated Depreciation	$ 566
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Industrial facility in Baraboo, WI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	917
Buildings	10,663
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	917
Buildings	10,663
Total	11,580
Accumulated Depreciation	$ 1,558
Life on which Depreciation in Latest Statement of Income is Computed	13 years
Warehouse facility in Phoenix, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 18,972
Initial Cost to Company
Land	6,747
Buildings	21,352
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,747
Buildings	21,352
Total	28,099
Accumulated Depreciation	$ 1,472
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Land in Calgary, Canada | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,721
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(725)
Gross Amount at which Carried at Close of Period
Land	2,996
Buildings	0
Total	2,996
Accumulated Depreciation	0
Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	2,398
Initial Cost to Company
Land	955
Buildings	4,779
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	955
Buildings	4,779
Total	5,734
Accumulated Depreciation	$ 295
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Buffalo Grove, IL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,322
Initial Cost to Company
Land	1,492
Buildings	12,233
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,492
Buildings	12,233
Total	13,725
Accumulated Depreciation	$ 757
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Warehouse facility in Spanish Fork, UT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,055
Initial Cost to Company
Land	991
Buildings	7,901
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	991
Buildings	7,901
Total	8,892
Accumulated Depreciation	$ 463
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Industrial, office, and warehouse facilities in Perris, CA; Eugene, OR; West Jordan, UT; and Tacoma, WA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,989
Buildings	5,435
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	8
Gross Amount at which Carried at Close of Period
Land	8,989
Buildings	5,443
Total	14,432
Accumulated Depreciation	$ 371
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Office facility in Carlsbad, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,230
Buildings	5,492
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,230
Buildings	5,492
Total	8,722
Accumulated Depreciation	$ 445
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Land in Pensacola, FL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,026
Initial Cost to Company
Land	1,746
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,746
Buildings	0
Total	1,746
Accumulated Depreciation	0
Movie theater in Port St. Lucie, FL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	5,393
Initial Cost to Company
Land	4,654
Buildings	2,576
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,654
Buildings	2,576
Total	7,230
Accumulated Depreciation	$ 180
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Movie theater in Hickory Creek, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,693
Buildings	3,342
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,693
Buildings	3,342
Total	5,035
Accumulated Depreciation	$ 239
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facility in Nurieux-Volognat, France | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	121
Buildings	5,328
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(994)
Gross Amount at which Carried at Close of Period
Land	96
Buildings	4,359
Total	4,455
Accumulated Depreciation	$ 258
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Warehouse facility in Suwanee, GA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 15,278
Initial Cost to Company
Land	2,330
Buildings	8,406
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,330
Buildings	8,406
Total	10,736
Accumulated Depreciation	$ 476
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,336
Initial Cost to Company
Land	1,878
Buildings	8,579
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,878
Buildings	8,579
Total	10,457
Accumulated Depreciation	$ 701
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Industrial facilities in Fort Dodge, IN and Menomonie and Oconomowoc, WI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,649
Initial Cost to Company
Land	1,403
Buildings	11,098
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,403
Buildings	11,098
Total	12,501
Accumulated Depreciation	$ 1,306
Life on which Depreciation in Latest Statement of Income is Computed	16 years
Industrial facility in Mesa, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,768
Initial Cost to Company
Land	2,888
Buildings	4,282
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,888
Buildings	4,282
Total	7,170
Accumulated Depreciation	$ 301
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facility in North Amityville, NY | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,735
Initial Cost to Company
Land	3,486
Buildings	11,413
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,486
Buildings	11,413
Total	14,899
Accumulated Depreciation	$ 840
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Warehouse facilities in Greenville, SC | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	567
Buildings	10,217
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	15
Gross Amount at which Carried at Close of Period
Land	567
Buildings	10,232
Total	10,799
Accumulated Depreciation	$ 950
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Industrial facility in Fort Collins, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,532
Initial Cost to Company
Land	821
Buildings	7,236
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	821
Buildings	7,236
Total	8,057
Accumulated Depreciation	$ 422
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Office facility in Piscataway, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,984
Buildings	34,165
Cost Capitalized Subsequent to Acquisition	31,616
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,984
Buildings	65,781
Total	70,765
Accumulated Depreciation	$ 3,004
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Land in Elk Grove Village, IL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,711
Initial Cost to Company
Land	4,037
Buildings	0
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,037
Buildings	0
Total	4,037
Accumulated Depreciation	0
Office facilities in Washington, MI | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	26,757
Initial Cost to Company
Land	4,085
Buildings	7,496
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,085
Buildings	7,496
Total	11,581
Accumulated Depreciation	$ 438
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Office facility in Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	522
Buildings	7,448
Cost Capitalized Subsequent to Acquisition	227
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	522
Buildings	7,675
Total	8,197
Accumulated Depreciation	$ 542
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Industrial facilities in Conroe, Houston, Odessa, and Weimar, TX and office facility in Houston, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,623
Initial Cost to Company
Land	4,049
Buildings	13,021
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	133
Gross Amount at which Carried at Close of Period
Land	4,049
Buildings	13,154
Total	17,203
Accumulated Depreciation	$ 1,347
Industrial facilities in Conroe, Houston, Odessa, and Weimar, TX and office facility in Houston, TX | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	12 years
Industrial facilities in Conroe, Houston, Odessa, and Weimar, TX and office facility in Houston, TX | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	22 years
Learning center in Sacramento, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 27,284
Initial Cost to Company
Land	0
Buildings	13,715
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	0
Buildings	13,715
Total	13,715
Accumulated Depreciation	$ 786
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,138
Buildings	8,387
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	43
Gross Amount at which Carried at Close of Period
Land	5,138
Buildings	8,430
Total	13,568
Accumulated Depreciation	$ 582
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Office facility in Tinton Falls, NJ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,869
Initial Cost to Company
Land	1,958
Buildings	7,993
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,958
Buildings	7,993
Total	9,951
Accumulated Depreciation	$ 500
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Industrial facility in Woodland, WA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	707
Buildings	1,562
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	707
Buildings	1,562
Total	2,269
Accumulated Depreciation	$ 85
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Warehouse facilities in Gyál and Herceghalom, Hungary | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 33,523
Initial Cost to Company
Land	14,601
Buildings	21,915
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(7,310)
Gross Amount at which Carried at Close of Period
Land	11,678
Buildings	17,528
Total	29,206
Accumulated Depreciation	$ 1,642
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Industrial facility in Windsor, CT | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	453
Buildings	637
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	453
Buildings	637
Total	1,090
Accumulated Depreciation	$ 37
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Industrial facility in Aurora, CO | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,823
Initial Cost to Company
Land	574
Buildings	3,999
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	574
Buildings	3,999
Total	4,573
Accumulated Depreciation	$ 195
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Chandler, AZ | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,318
Buildings	27,551
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	5,318
Buildings	27,551
Total	32,869
Accumulated Depreciation	$ 1,400
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facility in University Park, IL | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,962
Buildings	32,756
Cost Capitalized Subsequent to Acquisition	221
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	7,962
Buildings	32,977
Total	40,939
Accumulated Depreciation	$ 1,544
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Stavanger, Norway | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	10,296
Buildings	91,744
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(30,185)
Gross Amount at which Carried at Close of Period
Land	7,320
Buildings	64,535
Total	71,855
Accumulated Depreciation	$ 2,336
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Westborough, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,409
Buildings	37,914
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,409
Buildings	37,914
Total	41,323
Accumulated Depreciation	$ 1,416
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Andover, MA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,980
Buildings	45,120
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,980
Buildings	45,120
Total	49,100
Accumulated Depreciation	$ 1,481
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Newport, United Kingdom | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	22,587
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,751)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	20,836
Total	20,836
Accumulated Depreciation	$ 656
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facilities located throughout Australia | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	30,455
Buildings	94,724
Cost Capitalized Subsequent to Acquisition	53
Increase (Decrease) in Net Investments	(20,810)
Gross Amount at which Carried at Close of Period
Land	25,272
Buildings	79,150
Total	104,422
Accumulated Depreciation	6,110
Industrial facility in Lewisburg, OH | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,627
Buildings	13,721
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,627
Buildings	13,721
Total	15,348
Accumulated Depreciation	$ 448
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Opole, Poland | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,151
Buildings	21,438
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,934)
Gross Amount at which Carried at Close of Period
Land	1,884
Buildings	18,771
Total	20,655
Accumulated Depreciation	$ 579
Life on which Depreciation in Latest Statement of Income is Computed	38 years
Office facilities located throughout Spain | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	51,778
Buildings	257,624
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(33,636)
Gross Amount at which Carried at Close of Period
Land	48,938
Buildings	226,828
Total	275,766
Accumulated Depreciation	6,102
Retail facilities located throughout the United Kingdom | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	66,319
Buildings	230,113
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(6,623)
Gross Amount at which Carried at Close of Period
Land	64,837
Buildings	224,972
Total	289,809
Accumulated Depreciation	$ 6,914
Retail facilities located throughout the United Kingdom | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Retail facilities located throughout the United Kingdom | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Warehouse facility in Rotterdam, Netherlands | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	33,935
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,383)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	32,552
Total	32,552
Accumulated Depreciation	$ 774
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facility in Bad Fischau, Austria | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,855
Buildings	18,829
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	224
Gross Amount at which Carried at Close of Period
Land	2,884
Buildings	19,024
Total	21,908
Accumulated Depreciation	$ 453
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facility in Oskarshamn, Sweden | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,090
Buildings	18,262
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(453)
Gross Amount at which Carried at Close of Period
Land	3,025
Buildings	17,874
Total	20,899
Accumulated Depreciation	$ 266
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Sunderland, United Kingdom | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,912
Buildings	30,140
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,591)
Gross Amount at which Carried at Close of Period
Land	2,771
Buildings	28,690
Total	31,461
Accumulated Depreciation	$ 337
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	9,449
Buildings	15,838
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(557)
Gross Amount at which Carried at Close of Period
Land	9,241
Buildings	15,489
Total	24,730
Accumulated Depreciation	$ 204
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	49,190
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	0
Buildings	49,190
Total	49,190
Accumulated Depreciation	$ 310
Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	38 years
Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facilities located in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,698
Buildings	38,130
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	597
Gross Amount at which Carried at Close of Period
Land	5,775
Buildings	38,650
Total	44,425
Accumulated Depreciation	$ 167
Retail facilities located in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | Real Estate Subject To Operating Lease | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Retail facilities located in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | Real Estate Subject To Operating Lease | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Office facility in Irvine, CA | Real Estate Subject To Operating Lease
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,626
Buildings	16,137
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	7,626
Buildings	16,137
Total	23,763
Accumulated Depreciation	$ 12
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, North Carolina, and Texas | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings	16,416
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,164)
Gross Amount at which Carried at Close of Period
Total	12,252
Industrial facilities in Glendora, CA and Romulus, MI | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	454
Buildings	13,251
Cost Capitalized Subsequent to Acquisition	9
Increase (Decrease) in Net Investments	(3,477)
Gross Amount at which Carried at Close of Period
Total	10,237
Industrial facilities in Irving and Houston, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings	27,599
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(3,952)
Gross Amount at which Carried at Close of Period
Total	23,647
Retail facility in Freehold, NJ | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	8,088
Initial Cost to Company
Land	0
Buildings	17,067
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(108)
Gross Amount at which Carried at Close of Period
Total	16,959
Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	4,277
Initial Cost to Company
Land	2,089
Buildings	14,211
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(329)
Gross Amount at which Carried at Close of Period
Total	15,971
Retail facilities in Osnabruck, Borken, Bunde, Arnstadt, Dorsten, Duisburg, Freiberg, Leimbach-Kaiserro, Monheim, Oberhausen, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, Wuppertal, and Monheim, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	28,734
Buildings	145,854
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(27,070)
Gross Amount at which Carried at Close of Period
Total	147,518
Warehouse facility in Brierley Hill, United Kingdom | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,147
Buildings	12,357
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(574)
Gross Amount at which Carried at Close of Period
Total	13,930
Warehouse and industrial facilities in Mesquite, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	6,337
Initial Cost to Company
Land	2,851
Buildings	15,899
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,254)
Gross Amount at which Carried at Close of Period
Total	17,496
Industrial facility in Rochester, MN | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	4,074
Initial Cost to Company
Land	881
Buildings	17,039
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,520)
Gross Amount at which Carried at Close of Period
Total	16,400
Office facility in Irvine, CA | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	6,428
Initial Cost to Company
Land	0
Buildings	17,027
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(522)
Gross Amount at which Carried at Close of Period
Total	16,505
Industrial facility in Brownwood, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	722
Buildings	6,268
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1)
Gross Amount at which Carried at Close of Period
Total	6,989
Office facility in Scottsdale, AZ | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	20,559
Initial Cost to Company
Land	0
Buildings	43,570
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(315)
Gross Amount at which Carried at Close of Period
Total	43,255
Retail facilities in El Paso, Fabens, and Socorro, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	12,170
Initial Cost to Company
Land	4,777
Buildings	17,823
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(6)
Gross Amount at which Carried at Close of Period
Total	22,594
Industrial facility in Dallas, TX | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	3,190
Buildings	10,010
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Total	13,200
Industrial facility in Eagan, MN | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,111
Initial Cost to Company
Land	0
Buildings	11,548
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(77)
Gross Amount at which Carried at Close of Period
Total	11,471
Industrial facilities in Albemarle and Old Fort, NC; Holmesville, OH; and Springfield, TN | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	8,982
Initial Cost to Company
Land	6,542
Buildings	20,668
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,185)
Gross Amount at which Carried at Close of Period
Total	26,025
Movie theater in Midlothian, VA | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	8,244
Initial Cost to Company
Land	0
Buildings	16,546
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	201
Gross Amount at which Carried at Close of Period
Total	16,747
Industrial facilities located throughout France | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	14,036
Initial Cost to Company
Land	0
Buildings	27,270
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,752)
Gross Amount at which Carried at Close of Period
Total	22,518
Retail facility in Gronau, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	5,674
Initial Cost to Company
Land	281
Buildings	4,401
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(937)
Gross Amount at which Carried at Close of Period
Total	3,745
Industrial and office facilities in Marktheidenfeld, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,629
Buildings	22,396
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(5,310)
Gross Amount at which Carried at Close of Period
Total	18,715
Industrial and warehouse facilities in Newbridge, United Kingdom | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	11,952
Initial Cost to Company
Land	6,851
Buildings	22,868
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(3,467)
Gross Amount at which Carried at Close of Period
Total	26,252
Learning center in Mooresville, NC | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,759
Initial Cost to Company
Land	1,795
Buildings	15,955
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	2
Gross Amount at which Carried at Close of Period
Total	17,752
Industrial facility in Mount Carmel, IL | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	135
Buildings	3,265
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1)
Gross Amount at which Carried at Close of Period
Total	3,399
Industrial, office, and warehouse facilities in Bad Hersfeld, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	19,257
Initial Cost to Company
Land	15,287
Buildings	29,292
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(8,920)
Gross Amount at which Carried at Close of Period
Total	35,659
Retail facility in Vantaa, Finland | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	5,291
Buildings	15,522
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,166)
Gross Amount at which Carried at Close of Period
Total	16,647
Retail facility in Linkoping, Sweden | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,484
Buildings	9,402
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,508)
Gross Amount at which Carried at Close of Period
Total	8,378
Industrial facility in Calgary, Canada | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings	7,076
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,375)
Gross Amount at which Carried at Close of Period
Total	5,701
Industrial facilities in Kearney, MO; Fair Bluff, NC; York, NE; Walbridge, OH; Middlesex Township, PA; Rocky Mount, VA; and Martinsburg, WV | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	10,791
Initial Cost to Company
Land	5,780
Buildings	40,860
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(98)
Gross Amount at which Carried at Close of Period
Total	46,542
Industrial and office facilities in Leeds, United Kingdom | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,712
Buildings	16,501
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(10,262)
Gross Amount at which Carried at Close of Period
Total	8,951
Movie theater in Pensacola, FL | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,397
Initial Cost to Company
Land	0
Buildings	13,034
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(442)
Gross Amount at which Carried at Close of Period
Total	12,592
Industrial facility in Monheim, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,939
Buildings	7,379
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,130)
Gross Amount at which Carried at Close of Period
Total	8,188
Industrial facility in Göppingen, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	10,717
Buildings	60,120
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(14,787)
Gross Amount at which Carried at Close of Period
Total	56,050
Warehouse facility in Elk Grove Village, IL | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,334
Initial Cost to Company
Land	0
Buildings	7,863
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	1
Gross Amount at which Carried at Close of Period
Total	7,864
Industrial facility in Sankt Ingbert, Germany | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,786
Buildings	26,902
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(6,190)
Gross Amount at which Carried at Close of Period
Total	23,498
Industrial facility in New South Wales, Australia | Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	283
Buildings	2,978
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(555)
Gross Amount at which Carried at Close of Period
Total	2,706
Hotel in Bloomington, MN | Operating Real Estate
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	18,798
Initial Cost to Company
Land	3,810
Buildings	29,126
Cost Capitalized Subsequent to Acquisition	531
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,874
Buildings	29,237
Total	37,089
Accumulated Depreciation	3,226
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	3,622
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	$ 3,978
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Hotel in Memphis, TN | Operating Real Estate
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 27,183
Initial Cost to Company
Land	2,120
Buildings	36,594
Cost Capitalized Subsequent to Acquisition	111
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,167
Buildings	36,670
Total	42,472
Accumulated Depreciation	4,687
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	3,647
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	$ 3,635
Life on which Depreciation in Latest Statement of Income is Computed	22 years
Storage facility in Taunton, MA | Operating Real Estate
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,300
Buildings	12,274
Cost Capitalized Subsequent to Acquisition	303
Increase (Decrease) in Net Investments	(13,689)
Gross Amount at which Carried at Close of Period
Land	537
Buildings	2,651
Total	3,188
Accumulated Depreciation	881
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	0
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	$ 0
Life on which Depreciation in Latest Statement of Income is Computed	25 years

Schedule III - Real Estate a123

Schedule III - Real Estate and Accumulated Depreciation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate Subject To Operating Lease
Schedule III, Reconciliation of Carrying Amount of Real Estate Investments
Beginning balance	$ 4,976,685	$ 2,506,804	$ 2,331,613
Additions	548,521	2,785,863	216,422
Improvements	24,014	18,474	7,422
Dispositions	(19,597)	(137,018)	(8,347)
Foreign currency translation adjustment	(181,064)	(157,262)	26,729
Reclassification to assets held for sale	(63,494)	(33,162)	(72,827)
Reclassification from real estate under construction	55,362	0	2,875
Impairment charges	(25,773)	(20,677)	(11,035)
Write-off of fully-depreciated assets	(6,443)	0	0
Reclassification from direct financing lease	0	13,663	13,952
Ending balance	5,308,211	4,976,685	2,506,804
Schedule III, Reconciliation of Real Estate Accumulated Depreciation
Beginning balance	253,627	168,076	116,075
Depreciation expense	137,144	112,758	60,470
Dispositions	(1,566)	(20,740)	(533)
Write-off of fully-depreciated assets	(6,443)	0	0
Foreign currency translation adjustment	(6,159)	(5,318)	1,194
Reclassification to assets held for sale	(3,868)	(1,149)	(9,130)
Ending balance	372,735	253,627	168,076
Operating Real Estate
Schedule III, Reconciliation of Carrying Amount of Real Estate Investments
Beginning balance	84,885	6,024	99,703
Additions	0	78,423	0
Improvements	527	438	706
Dispositions	(2,663)	0	(93,314)
Impairment charges	0	0	(1,071)
Ending balance	82,749	84,885	6,024
Schedule III, Reconciliation of Real Estate Accumulated Depreciation
Beginning balance	4,866	882	19,993
Depreciation expense	4,275	3,984	2,242
Dispositions	(347)	0	(21,353)
Ending balance	$ 8,794	$ 4,866	$ 882

Schedule IV - Mortgage Loan 124

Schedule IV - Mortgage Loan on Real Estate (Narratives) (Details) $ in Millions	Dec. 31, 2015USD ($)
Other Disclosures
Discount on note receivable	$ 0.3

Schedule IV - Mortgage Loan 125

Schedule IV - Mortgage Loan on Real Estate (Details 1) - Note receivable — Production Resource Group - Las Vegas $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Mortgage Loans on Real Estate
Interest Rate	7.90%
Final Maturity Date	Mar. 31, 2029
Fair Value	$ 10,610
Carrying Amount	$ 10,689

Schedule IV - Mortgage Loan 126

Schedule IV - Mortgage Loan on Real Estate (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Mortgage Loans on Real Estate
Balance at beginning of year	$ 20,848	$ 0	$ 0
Additions	0	21,060	0
Amortization and accretion	(63)	212	0
Repayments	(10,222)	0	0
Ending balance	$ 10,689	$ 20,848	$ 0