W. P. Carey (WPC) 10-K 24 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 17, 2017	Jun. 30, 2016
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, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
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 Common Stock, Shares Outstanding		106,321,207
Entity Public Float			$ 7.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investments in real estate:
Real estate, at cost	$ 5,204,126	$ 5,309,925
Operating real estate	81,711	82,749
Accumulated depreciation	(484,437)	(381,529)
Net investments in properties	4,801,400	5,011,145
Net investments in direct financing leases	684,059	756,353
Assets held for sale	26,247	59,046
Net investments in real estate	5,511,706	5,826,544
Equity investments in the Managed Programs and real estate	298,893	275,473
Cash and cash equivalents	155,482	157,227
Due from affiliates	299,610	62,218
In-place lease and tenant relationship intangible assets, net	826,113	902,848
Goodwill	635,920	681,809
Above-market rent intangible assets, net	421,456	475,072
Other assets, net	304,774	360,898
Total assets	8,453,954	8,742,089
Liabilities:
Senior Unsecured Notes, net	1,807,200	1,476,084
Non-recourse debt, net	1,706,921	2,269,421
Senior Unsecured Credit Facility - Revolver	676,715	485,021
Senior Unsecured Credit Facility - Term Loan, net	249,978	249,683
Accounts payable, accrued expenses and other liabilities	266,917	342,374
Below-market rent and other intangible liabilities, net	122,203	154,315
Deferred income taxes	90,825	86,104
Distributions payable	107,090	102,715
Total liabilities	5,027,849	5,165,717
Redeemable noncontrolling interest	965	14,944
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; 106,294,162 and 104,448,777 shares, respectively, issued and outstanding	106	104
Additional paid-in capital	4,399,651	4,282,042
Distributions in excess of accumulated earnings	(893,827)	(738,652)
Deferred compensation obligation	50,222	56,040
Accumulated other comprehensive loss	(254,485)	(172,291)
Total W. P. Carey stockholders’ equity	3,301,667	3,427,243
Noncontrolling interests	123,473	134,185
Total equity	3,425,140	3,561,428
Total liabilities and equity	$ 8,453,954	$ 8,742,089

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
W. P. Carey stockholders’ equity:
Preferred stock, par share value (usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred Stock, shares issued (shares)	0	0
Common stock, per share value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	450,000,000	450,000,000
Common stock shares, outstanding (shares)	106,294,162	104,448,777

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Owned Real Estate:
Lease revenues	$ 663,463	$ 656,956	$ 573,829
Lease termination income and other	35,696	25,145	17,767
Operating property revenues	30,767	30,515	28,925
Reimbursable tenant costs	25,438	22,832	24,862
Total real estate revenue	755,364	735,448	645,383
Investment Management:
Reimbursable costs from affiliates	66,433	55,837	130,212
Asset management revenue	61,971	49,984	38,063
Structuring revenue	47,328	92,117	71,256
Dealer manager fees	8,002	4,794	23,532
Other advisory revenue	2,435	203	0
Revenue from the Managed Programs	186,169	202,935	263,063
Total revenues	941,533	938,383	908,446
Operating Expenses
Depreciation and amortization	276,510	280,315	237,123
Reimbursable tenant and affiliate costs	91,871	78,669	155,074
General and administrative	82,352	103,172	91,588
Impairment charges	59,303	29,906	23,067
Property expenses, excluding reimbursable tenant costs	49,431	52,199	37,725
Stock-based compensation expense	18,015	21,626	31,075
Subadvisor fees	14,141	11,303	5,501
Dealer manager fees and expenses	12,808	11,403	21,760
Restructuring and other compensation	11,925	0	0
Merger, property acquisition, and other expenses	5,377	(7,764)	34,465
Total operating expenses	621,733	580,829	637,378
Other Income and Expenses
Interest expense	(183,409)	(194,326)	(178,122)
Equity in earnings of equity method investments in the Managed Programs and real estate	64,719	51,020	44,116
Other income and (expenses)	5,667	2,113	(14,230)
Gain on change in control of interests	0	0	105,947
Total other income and expenses	(113,023)	(141,193)	(42,289)
Income from continuing operations before income taxes and gain on sale of real estate	206,777	216,361	228,779
Provision for income taxes	(3,288)	(37,621)	(17,609)
Income from continuing operations before gain on sale of real estate	203,489	178,740	211,170
Income from discontinued operations, net of tax	0	0	33,318
Gain on sale of real estate, net of tax	71,318	6,487	1,581
Net Income	274,807	185,227	246,069
Net income attributable to noncontrolling interests	(7,060)	(12,969)	(6,385)
Net loss attributable to redeemable noncontrolling interest	0	0	142
Net Income Attributable to W. P. Carey	$ 267,747	$ 172,258	$ 239,826
Basic Earnings Per Share
Income from continuing operations attributable to W. P. Carey (usd per share)	$ 2.50	$ 1.62	$ 2.08
Income from discontinued operations attributable to W. P. Carey (usd per share)	0	0	0.34
Net Income Attributable to W. P. Carey (usd per share)	2.50	1.62	2.42
Diluted Earnings Per Share
Income from continuing operations attributable to W. P. Carey (usd per share)	2.49	1.61	2.06
Income from discontinued operations attributable to W. P. Carey (usd per share)	0	0	0.33
Net Income Attributable to W. P. Carey (usd per share)	$ 2.49	$ 1.61	$ 2.39
Weighted-Average Shares Outstanding
Basic, (in shares)	106,743,012	105,675,692	98,764,164
Diluted (in shares)	107,073,203	106,507,652	99,827,356
Amounts Attributable to W. P. Carey
Income from continuing operations, net of tax	$ 267,747	$ 172,258	$ 206,329
Income from discontinued operations, net of tax	0	0	33,497
Net Income Attributable to W. P. Carey	$ 267,747	$ 172,258	$ 239,826

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Comprehensive Income
Net Income	$ 274,807	$ 185,227	$ 246,069
Other Comprehensive Loss
Foreign currency translation adjustments	(92,434)	(125,447)	(117,938)
Realized and unrealized gain on derivative instruments	9,278	24,053	21,085
Change in unrealized (loss) gain on marketable securities	(126)	15	(10)
Net current period other comprehensive income (loss)	(83,282)	(101,379)	(96,863)
Comprehensive Income	191,525	83,848	149,206
Amounts Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests	(7,060)	(12,969)	(6,385)
Foreign currency translation adjustments	1,081	4,647	5,977
Realized and unrealized loss on derivative instruments	7	0	0
Comprehensive income attributable to noncontrolling interests	(5,972)	(8,322)	(408)
Amounts Attributable to Redeemable Noncontrolling Interest
Net loss attributable to redeemable noncontrolling interest	0	0	142
Foreign currency translation adjustments	0	0	(9)
Comprehensive loss attributable to redeemable noncontrolling interest	0	0	133
Comprehensive Income Attributable to W. P. Carey	$ 185,553	$ 75,526	$ 148,931

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Total W. P. Carey Stockholders	$0.001 Par Value Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Earnings	Deferred Compensation Obligation	Accumulated Other Comprehensive Income (Loss)	Noncontrolling interest
Balance - beginning of period at Dec. 31, 2013	$ 2,202,731	$ 1,904,415	$ 68	$ 2,228,031	$ (350,374)	$ 11,354	$ 15,336	$ 298,316
Beginning equity balance - shares at Dec. 31, 2013			68,266,570
W.P. Carey Stockholders
Shares issued in public offering, value	282,162	282,162	$ 5	282,157
Shares issued in public offering, shares			4,600,000
Contributions from noncontrolling interests (Note 2)	570							570
Shares issued upon exercise of stock options and purchases under employee share purchase plan, value	462	462		462
Shares issued upon exercise of stock options and purchases under employee share purchase plan, shares			86,895
Shares issued upon delivery of vested restricted stock awards, value	(15,737)	(15,737)		(15,737)
Shares issued upon delivery of vested restricted stock awards, shares			368,347
Delivery of deferred vested shares, net	0	0		(15,428)		15,428
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)	(379,835)		3,178	(386,855)	3,842
Net income	246,211	239,826			239,826			6,385
Shares issued to stockholders of CPA:16 in connection with the CPA:16 Merger, value	1,815,521	1,815,521	$ 31	1,815,490
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							99,757
Repurchase of shares, value	(678)	(678)		(351)	(327)
Repurchase of shares, shares			(11,037)
Foreign currency translation	76							76
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 loss on marketable securities	(10)	(10)					(10)
Balance - end of period at Dec. 31, 2014	3,890,735	3,750,889	$ 104	4,293,450	(497,730)	30,624	(75,559)	139,846
Ending equity balance - shares at Dec. 31, 2014			104,040,653
W.P. Carey Stockholders
Contributions from noncontrolling interests (Note 2)	730							730
Shares issued upon exercise of stock options and purchases under employee share purchase plan, value	(2,735)	(2,735)		(2,735)
Shares issued upon exercise of stock options and purchases under employee share purchase plan, shares			76,872
Shares issued upon delivery of vested restricted stock awards, value	(15,493)	(15,493)		(15,493)
Shares issued upon delivery of vested restricted stock awards, shares			331,252
Delivery of deferred vested shares, net	0	0		(20,740)		20,740
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)	(406,219)		2,285	(413,180)	4,676
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 loss on marketable securities	15	15					15
Balance - end of period at Dec. 31, 2015	$ 3,561,428	3,427,243	$ 104	4,282,042	(738,652)	56,040	(172,291)	134,185
Ending equity balance - shares at Dec. 31, 2015	104,448,777		104,448,777
W.P. Carey Stockholders
Shares issued in public offering, value	$ 83,766	83,766	$ 2	83,764
Shares issued in public offering, shares			1,249,836
Shares issued to a third party in connection with the redemption of a redeemable noncontrolling interest	13,418	13,418	$ 0	13,418
Shares issued to a third party in connection with the redemption of a redeemable noncontrolling interest, shares			217,011
Contributions from noncontrolling interests (Note 2)	14,530							14,530
Shares issued upon exercise of stock options and purchases under employee share purchase plan, value	(1,210)	(1,210)		(1,210)
Shares issued upon exercise of stock options and purchases under employee share purchase plan, shares			41,359
Shares issued upon delivery of vested restricted stock awards, value	(14,599)	(14,599)		(14,599)
Shares issued upon delivery of vested restricted stock awards, shares			337,179
Delivery of deferred vested shares, net	0			6,506		(6,506)
Deconsolidation of affiliate (Note 2)	(14,184)							(14,184)
Windfall tax benefits - share incentive plan	6,711	6,711		6,711
Amortization of stock-based compensation expense	21,222	21,222		21,222
Redemption value adjustment	561	561		561
Distributions to noncontrolling interests	(17,030)							(17,030)
Distributions declared	(420,998)	(420,998)		1,236	(422,922)	688
Net income	274,807	267,747			267,747			7,060
Other comprehensive income (loss):
Foreign currency translation adjustments	(92,434)	(91,353)					(91,353)	(1,081)
Realized and unrealized gain on derivative instruments	9,278	9,285					9,285	(7)
Change in unrealized loss on marketable securities	(126)	(126)					(126)
Balance - end of period at Dec. 31, 2016	$ 3,425,140	$ 3,301,667	$ 106	$ 4,399,651	$ (893,827)	$ 50,222	$ (254,485)	$ 123,473
Ending equity balance - shares at Dec. 31, 2016	106,294,162		106,294,162

Consolidated Statement of Equi7

Consolidated Statement of Equity (Parentheticals) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Distributions declared per share (usd per share)	$ 0.99	$ 0.985	$ 0.98	$ 0.9742	$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 3.9292	$ 3.8261	$ 3.685

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Flows — Operating Activities
Net income	$ 274,807	$ 185,227	$ 246,069
Adjustments to net income:
Depreciation and amortization, including intangible assets and deferred financing costs	279,693	287,835	248,549
Gain on sale of real estate	(71,318)	(6,487)	(29,250)
Equity in earnings of equity method investments in the Managed Programs and real estate	(64,719)	(51,020)	(44,116)
Distributions of earnings from equity investments	64,650	51,435	42,809
Impairment charges	59,303	29,906	23,067
Management income received in shares of Managed REITs and other	(31,786)	(23,266)	(39,866)
Deferred income taxes	(21,444)	1,476	(18,565)
Stock-based compensation expense	21,222	21,626	31,075
Straight-line rent, amortization of rent-related intangibles, and deferred rental revenue	(14,514)	16,071	44,843
Allowance for credit losses	7,064	8,748	0
Realized and unrealized (gains) losses on foreign currency transactions, derivatives, extinguishment of debt, and other	(1,314)	(1,978)	3,012
Gain on change in control of interests	0	0	(105,947)
Amortization of deferred other revenue	0	0	(786)
Changes in assets and liabilities:
Deferred acquisition revenue received	20,695	23,469	15,724
Payments for withholding taxes upon delivery of equity-based awards and exercises of stock options	(16,291)	(18,742)	(17,165)
Increase in structuring revenue receivable	(8,951)	(29,327)	(23,713)
Net changes in other operating assets and liabilities	20,674	(17,696)	23,352
Net Cash Provided by Operating Activities	517,771	477,277	399,092
Cash Flows — Investing Activities
Proceeds from sales of real estate	542,422	35,557	285,742
Purchases of real estate	(531,694)	(674,808)	(898,162)
Funding of short-term loans to affiliates	(257,500)	(185,447)	(11,000)
Funding for real estate construction and expansion	(56,557)	(28,040)	(20,647)
Proceeds from repayment of short-term loans to affiliates	37,053	185,447	11,000
Deconsolidation of affiliate (Note 2)	(15,408)	0	0
Change in investing restricted cash	15,188	26,610	(23,731)
Investment in assets of affiliate (Note 2)	(14,861)	0	0
Proceeds from limited partnership units issued by affiliate (Note 2)	14,184	0	0
Capital expenditures on owned real estate	(7,884)	(4,415)	(5,757)
Return of capital from equity investments	6,498	8,200	13,101
Value added taxes paid in connection with acquisition and construction of real estate	(4,550)	(10,401)	(7,036)
Other investing activities, net	3,019	2,224	1,652
Value added taxes refunded in connection with acquisition of real estate	1,038	9,997	0
Capital expenditures on corporate assets	(1,016)	(4,321)	(18,262)
Proceeds from repayments of note receivable	409	10,441	1,915
Capital contributions to equity investments in real estate	(147)	(16,229)	(25,468)
Cash acquired in connection with the CPA®:16 Merger	0	0	65,429
Purchase of securities	0	0	(7,664)
Cash paid to stockholders of CPA®:16 – Global in the CPA®:16 Merger	0	0	(1,338)
Net Cash Used in Investing Activities	(269,806)	(645,185)	(640,226)
Cash Flows — Financing Activities
Proceeds from Senior Unsecured Credit Facility	1,154,157	1,044,767	1,757,151
Repayments of Senior Unsecured Credit Facility	(954,006)	(1,330,122)	(1,415,000)
Distributions paid	(416,655)	(403,555)	(347,902)
Proceeds from issuance of Senior Unsecured Notes	348,887	1,022,303	498,195
Prepayments of mortgage principal	(321,705)	(91,560)	(220,786)
Scheduled payments of mortgage principal	(161,104)	(90,328)	(205,024)
Proceeds from shares issued under “at-the-market” offering, net of selling costs	84,063	0	0
Proceeds from mortgage financing	33,935	22,667	20,354
Distributions paid to noncontrolling interests	(17,030)	(14,713)	(20,646)
Windfall tax benefit associated with stock-based compensation awards	6,711	12,522	5,641
Payment of financing costs	(3,619)	(10,878)	(12,321)
Change in financing restricted cash	2,734	(9,811)	(588)
Proceeds from exercise of stock options and employee purchases under the employee share purchase plan	482	515	1,890
Contributions from noncontrolling interests	346	730	693
Proceeds from issuance of shares in public offering	0	0	282,162
Repurchase of shares	0	0	(679)
Net Cash (Used in) Provided by Financing Activities	(242,804)	152,537	343,140
Change in Cash and Cash Equivalents During the Year
Effect of exchange rate changes on cash	(6,906)	(26,085)	(20,842)
Net (decrease) increase in cash and cash equivalents	(1,745)	(41,456)	81,164
Cash and cash equivalents, beginning of year	157,227	198,683	117,519
Cash and cash equivalents, end of year	$ 155,482	$ 157,227	$ 198,683

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Parentheticals) $ 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

Business and Organization

Business and Organization	12 Months Ended
	Dec. 31, 2016
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, 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 Owned Real Estate 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, 2016 , 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. We refer to CPA ® :16 – Global, CPA ® :17 – Global, and CPA ® :18 – Global together as the CPA ® REITs. At December 31, 2016 , we were also the advisor to Carey Watermark Investors Incorporated, or 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, 2016 , we also served as the advisor to Carey Credit Income Fund, or CCIF, a business development company, or BDC, and feeder funds of CCIF, or the CCIF Feeder Funds, which are also BDCs ( Note 4 ). In May 2016, one of the CCIF Feeder Funds, Carey Credit Income Fund 2018 T, filed a registration statement on Form N-2 with the SEC to sell up to 102,564,103 shares of its beneficial interest in an initial public offering, with the proceeds to be invested in shares of CCIF. The registration statement was declared effective by the SEC in October 2016 but fundraising has not yet commenced. We refer to CCIF and the CCIF Feeder Funds collectively as the Managed BDCs. At December 31, 2016 , we were also the advisor to Carey European Student Housing Fund I, L.P., or CESH I, a limited partnership formed for the purpose of developing, owning, and operating student housing properties and similar investments in Europe. We refer to the Managed REITs, Managed BDCs, and CESH I collectively as the Managed Programs. On May 4, 2016, we filed a registration statement with the SEC for Corporate Property Associates 19 – Global Incorporated, or CPA ® :19 – Global, a diversified non-traded REIT, for a capital raise of up to $2.0 billion , which included $500.0 million of shares allocated to CPA ® :19 – Global’s distribution reinvestment plan. We have decided to delay the introduction of CPA ® :19 – Global due to regulatory uncertainty surrounding the adoption of the Fiduciary Rule and the resulting impact on the market with regard to product choices, pricing, and timing, which is currently in a state of flux. As a result, there can be no assurances as to whether or when CPA ® :19 – Global’s offering will commence. Through December 31, 2016 , the financial activity of CPA ® :19 – Global, which has no significant assets, liabilities, or operations, was included in our consolidated financial statements. Reportable Segments Owned Real Estate — We own and invest in commercial properties principally in North America, Europe, Australia, and Asia that are then leased to companies, primarily on a triple-net lease basis. We also own two hotels, which are considered operating 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 and limited partnership units 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, 2016 , our owned portfolio was comprised of our full or partial ownership interests in 903 properties, totaling approximately 87.9 million square feet (unaudited), substantially all of which were net leased to 217 tenants, with an occupancy rate of 99.1% . Investment Management — Through our TRSs, we structure and negotiate investments and debt placement transactions for the Managed REITs and CESH I, for which we earn structuring revenue, and manage their portfolios of real estate investments, for which we earn asset 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 through our advisory agreements with certain of the Managed Programs, including in connection with providing liquidity events for the Managed REITs’ stockholders. At December 31, 2016 , CPA ® :17 – Global and CPA ® :18 – Global collectively owned all or a portion of 446 properties, including certain properties in which we have an ownership interest. Substantially all of these properties, totaling approximately 52.0 million square feet (unaudited), were net leased to 216 tenants, with an average occupancy rate of approximately 99.8% . The Managed REITs and CESH I also had interests in 160 operating properties, totaling approximately 20.0 million square feet (unaudited), in the aggregate. We continue to explore alternatives for expanding our investment management operations beyond advising the existing Managed Programs. Any such expansion could involve the purchase of properties or other investments as principal with the intention of transferring such investments to a newly created fund. These new funds could invest primarily in assets other than net-lease real estate and could include funds raised through private placements, such as CESH I, 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, 2016
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. 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 and Liabilities — We record above- and below-market lease intangible assets and liabilities 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 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 Owned Real Estate 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. As part of purchase accounting, we record any deferred tax assets and/or liabilities resulting from the difference between the tax basis and GAAP basis of the investment in the taxing jurisdiction. Such deferred tax amount will be included in purchase accounting and may impact the amount of goodwill recorded depending on the fair value of all of the other assets and liabilities and the amounts paid. 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 third-party market research, external appraisals, 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 the 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 or direct financing 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. We also 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. 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, we will classify the net investment as held for sale and write down the net investment to its fair value if the fair value is less than the carrying 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 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 Owned Real Estate 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 Owned Real Estate 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 Owned Real Estate reporting unit. In addition, in connection with the acquisition of certain international properties, we have recorded goodwill in our Owned Real Estate reporting unit related to deferred foreign income taxes. Prior to the CPA ® :15 Merger, there was no goodwill recorded in our Owned Real Estate 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 portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. On January 1, 2016, we adopted the Financial Accounting Standards Board’s, or FASB’s, Accounting Standards Update, or ASU, 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , as described in the Recent Accounting Pronouncements section below, which amends the current consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities. When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a variable interest entity, or VIE, and, if so, whether we are 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. Limited partnerships and other similar entities that operate as a partnership will be considered a VIE unless the limited partners hold substantive kick-out rights or participation rights. 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. We performed this analysis on all of our subsidiary entities following the guidance in ASU 2015-02 to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of this change in guidance, we determined that 13 entities that were previously classified as voting interest entities should now be classified as VIEs as of January 1, 2016 and therefore included in our VIE disclosures. However, there was no change in determining whether or not we consolidate these entities as we continue not to be the primary beneficiary. We elected to retrospectively adopt ASU 2015-02, which resulted in changes to our VIE disclosures. There were no other changes to our consolidated balance sheets or results of operations for the periods presented. The liabilities of these VIEs are non-recourse to us and can only be satisfied from each VIE’s respective assets. At December 31, 2016 , we considered 32 entities VIEs, 25 of which we consolidated as we are considered the primary beneficiary. The following table presents a summary of selected financial data of the consolidated VIEs included in the consolidated balance sheets (in thousands): December 31, 2016 2015 Net investments in properties $ 786,379 $ 890,454 Net investments in direct financing leases 60,294 61,454 In-place lease and tenant relationship intangible assets, net 182,177 214,924 Above-market rent intangible assets, net 71,852 80,901 Total assets 1,150,093 1,297,276 Non-recourse debt, net $ 406,574 $ 439,285 Total liabilities 548,659 590,596 At both December 31, 2016 and 2015 , our seven unconsolidated VIEs included our interests in six unconsolidated real estate investments and one unconsolidated entity among our interests in the Managed Programs, all of which we account for under the equity method of accounting. We do not consolidate these entities because we are not the primary beneficiary and the nature of our involvement in the activities of these entities allows us to exercise significant influence on, but does not give us power over, decisions that significantly affect the economic performance of these entities. As of December 31, 2016 and 2015 , the net carrying amount of our investments in these entities was $152.9 million and $154.8 million , respectively, and our maximum exposure to loss in these entities was limited to our investments. At December 31, 2016 , 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. In connection with the CPA ® :16 Merger, we acquired 19 VIEs. In accordance with ASU 2015-02, we determined that seven of these entities, which were previously classified as voting interest entities, should now be classified as VIEs as of January 1, 2016 and therefore included in our VIE disclosures. 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, 2016 , none of our equity investments had a carrying value below zero. On April 20, 2016, we formed a limited partnership, CESH I, for the purpose of developing, owning, and operating student housing properties and similar investments in Europe. CESH I commenced fundraising in July 2016 through a private placement with an initial offering of $100.0 million and a maximum offering of $150.0 million . Through August 30, 2016, the financial results and balances of CESH I were included in our consolidated financial statements, and we had collected $14.2 million of net proceeds on behalf of CESH I from limited partnership units issued in the private placement primarily to independent investors. On August 31, 2016, we determined that CESH I had sufficient equity to finance its operations and that we were no longer considered the primary beneficiary, and as a result we deconsolidated CESH I and began to account for our interest in it at fair value by electing the equity method fair value option available under U.S. GAAP. As of August 31, 2016, CESH I had assets totaling $30.3 million on our consolidated balance sheet, including $15.4 million in Cash and cash equivalents and $14.9 million in Other assets, net. In connection with the deconsolidation, we recorded offsetting amounts of $14.2 million for the year ended December 31, 2016 in Contributions from noncontrolling interests and Deconsolidation of affiliate in the consolidated statements of equity, and in Proceeds from limited partnership units issued by affiliate and Deconsolidation of affiliate in the consolidated statements of cash flows. We recognized a gain on deconsolidation of $1.9 million , which is included in Other income and (expenses) in the consolidated statements of income for the year ended December 31, 2016. The deconsolidation did not have a material impact on our financial position or results of operations. Following the deconsolidation, we continue to serve as the advisor to CESH I ( Note 4 ). As of December 31, 2016, CPA ® :19 – Global had not yet commenced fundraising through its registered public offering. Therefore, we included the financial activity of CPA ® :19 – Global in our consolidated financial statements and eliminated all intercompany accounts and transactions in consolidation. For the year ended December 31, 2016, the consolidated results of operations from CPA ® :19 – Global were insignificant. All assets and liabilities of CPA ® :19 – Global were insignificant as of December 31, 2016. We have decided to delay the introduction of CPA ® :19 – Global due to regulatory uncertainty surrounding the adoption of the Fiduciary Rule and the resulting impact on the market with regard to product choices, pricing, and timing, which is currently in a state of flux. As a result, there can be no assurances as to whether or when CPA ® :19 – Global’s offering will commence. Out-of-Period Adjustments During the second quarter of 2016, we identified and recorded out-of-period adjustments related to adjustments to prior period income tax returns. We concluded that these adjustments were not material to our consolidated financial statements for any of the current or prior periods presented. The net adjustment is reflected as a $3.0 million increase in our Provision for income taxes in the consolidated statements of income for the year ended December 31, 2016, with a net increase to Accounts payable, accrued expenses and other liabilities and Accumulated other comprehensive loss in the consolidated balance sheet as of December 31, 2016. Reclassifications — Certain prior period amounts have been reclassified to conform to the current period presentation. On January 1, 2016, we adopted ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) as described in the Recent Accounting Pronouncements section below. ASU 2015-03 changes the presentation of debt issuance costs, which were previously recognized as an asset and requires that they be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. As a result of adopting this guidance, we reclassified $12.6 million of deferred financing costs, net from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015. 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 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. For the year ended December 31, 2014, the results of operations and the related gain or loss on sale of properties held for sale as of December 31, 2013 and sold during 2014, and properties we acquired in the CPA ® :16 Merger that were held for sale and sold during 2014, were included in income from discontinued operations. 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 17 ). In the unlikely event that 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 propertie

Merger with CPA_16 Global

Merger with CPA:16 Global	12 Months Ended
	Dec. 31, 2016
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 $291.2 million 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 17 ). 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 and gain on sale of real estate 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. Goodwill The $346.6 million of goodwill recorded in connection with the CPA ® :16 Merger was primarily attributable to the premium we agreed to pay for CPA ® :16 – Global’s common stock at the time we entered into the merger agreement in July 2013. Management believes the premium is supported by several factors of the combined entity, including the fact that (i) it is among the largest publicly traded commercial net-lease REITs with greater operating and financial flexibility and better access to capital markets and with a lower cost of capital than CPA ® :16 – Global had on a stand-alone basis; (ii) the CPA ® :16 Merger eliminated costs associated with the advisory structure that CPA ® :16 – Global had previously; and (iii) the combined portfolio has greater tenant and geographic diversification and an improved overall weighted-average debt maturity and interest rate. The aforementioned amount of goodwill attributable to the premium was partially offset by an increase in the fair value of the net assets through the date of the CPA ® :16 Merger. Goodwill acquired in the CPA ® :16 Merger is not deductible for income tax purposes. 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 year ended December 31, 2014. 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) Year Ended December 31, 2014 Pro forma total revenues $ 931,309 Pro forma net income from continuing operations, net of tax $ 139,698 Pro forma net income attributable to noncontrolling interests (5,380 ) Pro forma net loss attributable to redeemable noncontrolling interest 142 Pro forma net income from continuing operations, net of tax attributable to W. P. Carey $ 134,460 Pro forma earnings per share: Basic $ 1.32 Diluted $ 1.31 Pro forma weighted-average shares outstanding: (a) Basic 101,296,847 Diluted 102,360,038 __________ (a) The pro forma weighted-average shares outstanding for the year ended December 31, 2014 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, 2016
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 offerings of the Managed Programs. The advisory agreements with each of the Managed REITs have terms of one year, may be renewed for successive one-year periods, and are currently scheduled to expire on December 31, 2017, unless otherwise renewed. The advisory agreement with CCIF is subject to renewal on or before January 26, 2018. The advisory agreement with CESH I, which commenced June 3, 2016, will continue until terminated pursuant to its terms. 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, 2016 2015 2014 Reimbursable costs from affiliates $ 66,433 $ 55,837 $ 130,212 Asset management revenue 61,879 49,892 37,970 Structuring revenue 47,328 92,117 71,256 Distributions of Available Cash 45,121 38,406 31,052 Dealer manager fees 8,002 4,794 23,532 Other advisory revenue 2,435 203 — Interest income on deferred acquisition fees and loans to affiliates 740 1,639 684 Deferred revenue earned — — 786 $ 231,938 $ 242,888 $ 295,492 Years Ended December 31, 2016 2015 2014 CPA ® :16 – Global $ — $ — $ 7,999 CPA ® :17 – Global 74,852 81,740 68,710 CPA ® :18 – Global 31,330 85,431 129,642 CWI 1 34,085 44,712 89,141 CWI 2 67,524 30,340 — CCIF 11,164 665 — CESH I 12,983 — — $ 231,938 $ 242,888 $ 295,492 The following table presents a summary of amounts included in Due from affiliates in the consolidated financial statements (in thousands): December 31, 2016 2015 Short-term loans to affiliates $ 237,613 $ — Deferred acquisition fees receivable 21,967 33,386 Distribution and shareholder servicing fees 19,341 11,801 Current acquisition fees receivable 8,024 4,909 Accounts receivable 5,005 3,910 Reimbursable costs 4,427 5,579 Asset management fees receivable 2,449 2,172 Organization and offering costs 784 461 $ 299,610 $ 62,218 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% 2014 in cash; 2015 and 2016 N/A Rate is based on adjusted invested assets CPA ® :17 – Global 0.5% - 1.75% 2014 in shares of its common stock; 2015 and 2016 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% 2014, 2015, and 2016 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% 2014 in shares of its common stock; 2015 and 2016 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% 2014 N/A; 2015 and 2016 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% 2014 N/A; 2015 and 2016 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 CESH I 1.0% In cash Based on gross assets at fair value 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 with the Managed REITs and CESH I, we earn revenue for structuring and negotiating investments and related financing. 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 and CESH I: 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 or commitments 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 or commitments 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 or commitments made; loan refinancing transactions up to 1% of the principal amount; we are required to pay 20% and 25% to the subadvisors of CWI 1 and CWI 2, respectively; total for each CWI REIT limited to 6% of the contract prices in aggregate CESH I 2.0% In cash upon completion Based on the total aggregate cost of investments or commitments made, including the acquisition, development, construction, or re-development of the investments 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; offerings for CPA ® :18 – Global Class A shares closed in April 2015 and for CWI 1 Common Stock in December 2014 CWI 2 Class T Shares $0.19 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; this offering closed in April 2015 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 CESH I Up to 7.0% of gross offering proceeds In cash upon limited partnership unit settlement; 100% re-allowed to broker-dealers Based on the selling price of each limited partnership unit 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; offerings for CPA ® :18 – Global Class A shares closed in April 2015 and for CWI Common Stock in December 2014 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; this offering closed in April 2015 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 CESH I Up to 3.0% of gross offering proceeds Per limited partnership unit sold In cash upon limited partnership unit 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 it was reported, the net asset value per share; 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 it was reported, the net asset value per share; cease paying on the earlier of six years or when underwriting compensation from all sources equals 10% of gross offering proceeds Carey Credit Income Fund 2016 T and Carey Credit Income Fund 2018 T (two of the CCIF Feeder Funds) 0.9% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the weighted-average net price of shares sold in the public offering; commences in the first quarter after the close of the public offering; cease paying on the earlier of when underwriting compensation from all sources equals 10% of gross offering proceeds or the date at which a liquidity event occurs 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 Programs and us, and are capped at 2.2% and 2.4% of each CPA ® REIT’s pro rata lease revenues for 2016 and 2015, respectively; for the legal transactions group, costs are charged according to a fee schedule CWI 1 2014 in shares of its common stock; 2015 and 2016 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 2014 N/A; 2015 and 2016 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 2014 N/A; 2015 and 2016 in cash Actual expenses incurred, excluding those related to our investment management team and senior management team CESH I 2014 and 2015 N/A; 2016 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; offering for CPA ® :18 – Global closed in April 2015 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; offering closed in December 2014 CCIF and CCIF Feeder Funds In cash; payable monthly Up to 1.5% of the gross offering proceeds; we are required to pay 50% of the organization and offering costs we receive to the subadvisor CESH I N/A In lieu of reimbursing us for organization and offering costs, CESH I will pay us limited partnership units, as described below under Other Advisory Revenue 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. Other Advisory Revenue Under the limited partnership agreement we have with CESH I, we pay all organization and offering costs on behalf of CESH I, and instead of being reimbursed by CESH I on a dollar-for-dollar basis for those costs, we receive limited partnership units of CESH I equal to 2.5% of its gross offering proceeds. This revenue is included in Other advisory revenue in the consolidated statements of income and totaled $2.4 million for the year ended December 31, 2016, representing activity following the deconsolidation of CESH I on August 31, 2016 ( Note 2 ). 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 Owned Real Estate 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 , at our sole discretion, 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 that they would not otherwise have had sufficient available funds to complete. In April 2016, our board of directors approved unsecured loans from us to CESH I of up to $35.0 million , under the same terms and for the same purpose. 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 credit agreements 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. In January 2016, our board of directors terminated its previous authorizations to provide loans to CPA ® :18 – Global and CCIF. However, in July 2016, our board of directors approved unsecured loans from us to CPA ® :18 – Global of up to $50.0 million , at our sole discretion, with 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 investments approved by CPA ® :18 – Global’s investment committee. On January 20, 2016, we made a $20.0 million loan to CWI 2, which was repaid in full on February 20, 2016. In May 2016, we made a total of $17.1 million in loans to CESH I, at an annual interest rate of LIBOR plus 1.1% , which were repaid in full in September 2016, subsequent to the commencement of CESH I’s private placement ( Note 2 ). On October 31, 2016, we made a $27.5 million loan to CPA ® :18 – Global at an annual interest rate of LIBOR plus 1.1% with a scheduled maturity date of October 31, 2017 for the purpose of facilitating an investment approved by CPA ® :18 – Global’s investment committee. In December 2016, our board of directors approved an increase in unsecured loans from us to CWI 2 from up to $110.0 million to up to $250.0 million . On December 29, 2016, we made a $210.0 million loan to CWI 2 at an annual interest rate of LIBOR plus 1.1% with a scheduled maturity date of December 29, 2017 for the purpose of facilitating an investment approved by CWI 2’s investment committee. In January and February 2017, CWI 2 repaid this loan in full to us ( Note 20 ). Short-term loans to affiliates outstanding to us at December 31, 2016 includes accrued interest of $0.1 million . 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 On February 2, 2016, an entity in which we, one of our employees, and third parties owned 38.3% , 0.5% , and 61.2% , respectively, and which we consolidated, sold a self-storage property ( Note 17 ). In connection with the sale, we made a distribution of $0.1 million to the employee, representing the employee’s share of the net proceeds from the sale. At December 31, 2016 , we owned interests ranging from 3% to 90% in jointly owned investments in real estate, including a jointly controlled tenancy-in-common interest in several properties, with the remaining interests generally held by affiliates. In addition, we owned stock of each of the Managed REITs and CCIF, and limited partnership units of CESH I. We consolidate certain of these investments and account for the remainder either (i) under the equity method of accounting or (ii) at fair value by electing the equity method fair value option available under U.S. GAAP ( Note 7 ).

Net Investments in Properties

Net Investments in Properties	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 Land $ 1,128,933 $ 1,160,567 Buildings 4,053,334 4,147,644 Real estate under construction 21,859 1,714 Less: Accumulated depreciation (472,294 ) (372,735 ) $ 4,731,832 $ 4,937,190 During 2016 , the U.S. dollar strengthened against the British pound sterling, as the end-of-period rate for the U.S. dollar in relation to the British pound sterling at December 31, 2016 decreased by 17.0% to $1.2312 from $1.4833 at December 31, 2015 . Additionally, during the same period the U.S. dollar strengthened against the euro, as the end-of-period rate for the U.S. dollar in relation to the euro decreased by 3.2% to $1.0541 from $1.0887 . As a result of these fluctuations in foreign exchange rates, the carrying value of our real estate decreased by $89.8 million from December 31, 2015 to December 31, 2016 . Depreciation expense, including the effect of foreign currency translation, on our real estate was $142.7 million , $137.3 million , and $113.0 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Acquisitions of Real Estate During 2016 – 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 $530.3 million , including land of $140.2 million , buildings of $259.8 million , and net lease intangibles of $130.3 million ( Note 8 ) (including acquisition-related costs of $4.0 million in the aggregate, which were capitalized to land, building, and intangibles): • an investment of $167.7 million for three private school campuses in Coconut Creek, Florida on April 1, 2016 and in Windermere, Florida and Houston, Texas on May 31, 2016. We also committed to fund an additional $128.1 million of build-to-suit financing over the next four years in order to fund expansions of the existing facilities; • an investment of $218.2 million for 43 manufacturing facilities in various locations in the United States and six manufacturing facilities in various locations in Canada on April 5 and 14, 2016; on October 4, 2016, we acquired a manufacturing facility in San Antonio, Texas from the tenant for $3.8 million (which we consider to be part of the original investment) and simultaneously disposed of a manufacturing facility in Mascouche, Canada, which was acquired as part of the original investment, for the same amount ( Note 17 ); and • an investment of $140.7 million for 13 manufacturing facilities and one office facility in various locations in Canada, Mexico, and the United States on November 8, 2016 and December 1, 2016. In addition, we recorded an estimated deferred tax liability of $29.4 million , with a corresponding increase to the asset value, since we assumed the tax basis of the acquired entities as part of the acquisition of the shares of these entities. In addition, we entered into the following investments, which were deemed to be real estate asset acquisitions, at a total cost of $1.9 million : • an investment of $1.1 million for a parcel of land adjacent to a property owned by us in McCalla, Alabama on October 20, 2016. We also committed to fund $21.5 million of build-to-suit financing for the construction of an industrial facility on the land. Construction commenced during 2016 and is expected to be completed during 2017; and • an investment of $0.8 million for a parcel of land adjacent to a property owned by us in Rio Rancho, New Mexico on December 9, 2016. We will reimburse the tenant in the property for the costs of constructing a parking lot up to $0.7 million . We reclassified 31 properties with an aggregate carrying value of $9.7 million from Net investments in direct financing leases to Real estate, at cost during the year ended December 31, 2016, in connection with the extensions of the underlying leases ( Note 6 ). Dollar amounts are based on the exchange rates of the foreign currencies on the dates of activity, as applicable. 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 : • 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 (including acquisition-related costs of $3.9 million , which were capitalized), and net lease intangibles of $39.4 million : • 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 activity, 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 (including acquisition-related costs of $17.8 million , which were capitalized), net lease intangibles of $82.9 million , and a property classified as a net investment in direct financing lease of $3.3 million ( Note 6 ): • 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 activity, 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, at cost during the year ended December 31, 2014, in connection with the extensions of the underlying leases ( Note 6 ). Real Estate Under Construction During 2016 , we capitalized real estate under construction totaling $58.7 million , including accrual activity of $2.1 million , primarily related to construction projects on our properties. Of this total, $16.9 million related to an expansion of one of the three private school campuses that we acquired during 2016 , as described above. As of December 31, 2016 , we had three construction projects in progress. As of December 31, 2015 , we had an outstanding commitment related to a tenant expansion allowance, for which construction had not yet commenced, and no other open construction projects. Aggregate unfunded commitments totaled approximately $135.2 million and $12.2 million as of December 31, 2016 and 2015 , respectively. In December 2015, we entered into a build-to-suit transaction for the redevelopment of a property in Doraville, Georgia. We demolished the property ( Note 9 ) and commenced construction of an industrial facility, which was completed in October 2016. The building was placed into service at a cost totaling $13.8 million and we have no further funding commitment as of December 31, 2016 . In addition, we placed into service amounts totaling $24.7 million related to partially-completed build-to-suit projects or other expansion projects during the year ended December 31, 2016. On December 4, 2013, we entered into a build-to-suit transaction for the construction of an office building 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, 2016 . Dispositions of Real Estate During 2016 , we sold 28 properties and a parcel of vacant land, excluding the disposition of two properties that were classified as held for sale as of December 31, 2015, transferred ownership of another property to the related mortgage lender, and disposed of another property through foreclosure ( Note 17 ). As a result, the carrying value of our real estate decreased by $411.2 million from December 31, 2015 to December 31, 2016 . Future Dispositions of Real Estate During 2016 , two tenants each exercised an option to repurchase the properties they are leasing in accordance with their lease agreements during 2017 for an aggregate of $21.6 million . At December 31, 2016 , the properties had an aggregate asset carrying value of $16.3 million . There is no accounting impact during 2016 related to the exercise of these options. Scheduled Future Minimum Rents Scheduled future minimum rents, exclusive of renewals, expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable operating leases at December 31, 2016 are as follows (in thousands): Years Ending December 31, Total 2017 $ 585,799 2018 575,925 2019 565,614 2020 533,916 2021 506,875 Thereafter 3,401,847 Total $ 6,169,976 Operating Real Estate At December 31, 2016 , Operating real estate consisted of our investments in two hotels. 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, 2016 , we sold our remaining self-storage property, and as a result, the carrying value of our Operating real estate decreased by $2.3 million from December 31, 2015 to December 31, 2016 ( Note 17 ). Below is a summary of our Operating real estate (in thousands): December 31, 2016 2015 Land $ 6,041 $ 6,578 Buildings 75,670 76,171 Less: Accumulated depreciation (12,143 ) (8,794 ) $ 69,568 $ 73,955 Depreciation expense on our operating real estate was $4.2 million , $4.2 million , and $3.8 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. We capitalized or reclassified from real estate under construction $2.2 million of building improvements related to our operating properties during the year ended December 31, 2016. Assets Held for Sale Below is a summary of our properties held for sale (in thousands): December 31, 2016 2015 Net investments in direct financing leases $ 26,247 $ — Real estate, net — 59,046 Assets held for sale $ 26,247 $ 59,046 At December 31, 2016 , we had one property classified as Assets held for sale with a carrying value of $26.2 million . In addition, there was a deferred tax liability of $2.5 million related to this property as of December 31, 2016 , which is included in Deferred income taxes in the consolidated balance sheets. The property was disposed of subsequent to December 31, 2016 ( Note 20 ). At December 31, 2015 , we had two properties classified as Assets held for sale, both of which were sold during the year ended December 31, 2016 ( Note 17 ).

Finance Receivables

Finance Receivables	12 Months Ended
	Dec. 31, 2016
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. Net Investments in Direct Financing Leases Net investments in direct financing leases is summarized as follows (in thousands): December 31, 2016 2015 Minimum lease payments receivable $ 619,014 $ 797,736 Unguaranteed residual value 639,002 700,143 1,258,016 1,497,879 Less: unearned income (573,957 ) (741,526 ) $ 684,059 $ 756,353 2016 — Interest income from direct financing leases, which was included in Lease revenues in the consolidated financial statements, was $71.2 million for the year ended December 31, 2016. During the year ended December 31, 2016 , the U.S. dollar strengthened against both the euro and British pound sterling, resulting in a $18.3 million decrease in the carrying value of Net investments in direct financing leases from December 31, 2015 to December 31, 2016 . During the year ended December 31, 2016, we reclassified 31 properties with a carrying value of $9.7 million from Net investments in direct financing leases to Real estate, at cost, in connection with the extensions of the underlying leases. During the year ended December 31, 2016, we reclassified a property from Net investments in direct financing leases to Assets held for sale based on the fair value of the property less costs to sell of $26.2 million ( Note 5 ) and recognized an impairment charge of $7.0 million on the property ( Note 9 ). 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. 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 ). 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 17 ). 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 ). Scheduled Future Minimum Rents Scheduled future minimum rents, exclusive of renewals, expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable direct financing leases at December 31, 2016 are as follows (in thousands): Years Ending December 31, Total 2017 $ 65,781 2018 65,893 2019 64,138 2020 63,438 2021 60,232 Thereafter 299,532 Total $ 619,014 Notes Receivable Earnings from our notes receivable are included in Lease termination income and other in the consolidated financial statements. At December 31, 2016 and 2015 , we had a note receivable with an outstanding balance of $10.4 million and $10.7 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 4 , 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. As of December 31, 2016 and 2015 , we had allowances for credit losses of $13.3 million and $8.7 million , respectively, on a single direct financing lease, including the impact of foreign currency translation. During the years ended December 31, 2016 and 2015 , we increased the allowance by $7.1 million and $8.7 million , respectively, which was recorded in Property expenses, excluding reimbursable tenant costs in the consolidated financial statements, 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. At both December 31, 2016 and 2015 , 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 and the allowance for credit losses discussed above, there were no modifications of finance receivables during the years ended December 31, 2016 or 2015 . 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. A credit quality of one through three indicates a range of investment grade to stable. A credit quality of four through five indicates a range of inclusion on the watch list to risk of default. The credit quality evaluation of our finance receivables was last updated in the fourth quarter of 2016. 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, excluding our deferred acquisition fees receivable, is as follows (dollars in thousands): Number of Tenants / Obligors at December 31, Carrying Value at December 31, Internal Credit Quality Indicator 2016 2015 2016 2015 1 - 3 27 28 $ 621,955 $ 657,034 4 5 6 70,811 110,002 5 1 — 1,644 — $ 694,410 $ 767,036

Equity Investments in the Manag

Equity Investments in the Managed Programs and Real Estate	12 Months Ended
	Dec. 31, 2016
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) or at fair value by electing the equity method fair value option available under U.S. GAAP. 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, 2016 2015 2014 Distributions of Available Cash ( Note 4 ) $ 45,121 $ 38,406 $ 31,052 Proportionate share of equity in earnings (losses) of equity method investments in the Managed Programs 7,698 (454 ) 2,425 Amortization of basis differences on equity method investments in the Managed Programs (1,028 ) (806 ) (810 ) Deferred revenue earned ( Note 4 ) — — 786 Other-than-temporary impairment charges on the Special Member Interest in CPA ® :16 – Global’s operating partnership — — (735 ) Total equity in earnings of equity method investments in the Managed Programs 51,791 37,146 32,718 Equity in earnings of equity method investments in real estate 16,503 17,559 14,828 Amortization of basis differences on equity method investments in real estate (3,575 ) (3,685 ) (3,430 ) Equity in earnings of equity method investments in the Managed Programs and real estate $ 64,719 $ 51,020 $ 44,116 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 and CESH I are included in the Owned Real Estate 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 2016 2015 2016 2015 CPA ® :17 – Global 3.456 % 3.087 % $ 99,584 $ 87,912 CPA ® :17 – Global operating partnership 0.009 % 0.009 % — — CPA ® :18 – Global 1.616 % 0.735 % 17,955 9,279 CPA ® :18 – Global operating partnership 0.034 % 0.034 % 209 209 CWI 1 1.109 % 1.131 % 11,449 12,619 CWI 1 operating partnership 0.015 % 0.015 % — — CWI 2 0.773 % 0.379 % 5,091 949 CWI 2 operating partnership 0.015 % 0.015 % 300 300 CCIF 13.322 % 47.882 % 23,528 22,214 CESH I (a) 2.431 % — % 2,701 — $ 160,817 $ 133,482 __________ (a) Investment is accounted for at fair value. CPA ® :17 – Global — The c arrying value of our investment in CPA ® :17 – Global at December 31, 2016 includes asset management fees receivable, for which 109,825 shares of CPA ® :17 – Global common stock were issued during the first quarter of 2017 . We received distributions from this investment during the years ended December 31, 2016 , 2015 , and 2014 of $7.3 million , $5.9 million , and $4.6 million , respectively. We received distributions from our investment in the CPA ® :17 – Global operating partnership during the years ended December 31, 2016 , 2015 , and 2014 of $24.8 million , $24.7 million , and $20.4 million , respectively. CPA ® :18 – Global — The c arrying value of our investment in CPA ® :18 – Global at December 31, 2016 includes asset management fees receivable, for which 109,639 shares of CPA ® :18 – Global class A common stock were issued during the first quarter of 2017 . We received distributions from this investment during the years ended December 31, 2016 , 2015 , and 2014 of $0.9 million , $0.2 million , and less than $0.1 million , respectively. We received distributions from our investment in the CPA ® :18 – Global operating partnership during the years ended December 31, 2016 , 2015 , and 2014 of $7.6 million , $6.3 million , and $1.8 million , respectively. CWI 1 — We received distributions from this investment during the years ended December 31, 2016 , 2015 , and 2014 of $0.9 million , $0.8 million , and $0.3 million , respectively. We received distributions from our investment in the CWI 1 operating partnership during the years ended December 31, 2016 , 2015 , and 2014 of $9.4 million , $7.1 million , and $4.1 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 and consolidated this investment. On May 15, 2015, upon CWI 2 reaching its minimum offering proceeds and admitting new stockholders, we deconsolidated our investment and began to account for our interest in CWI 2 under the equity method of accounting. We received distributions from this investment during the year ended December 31, 2016 of $0.1 million . We did not receive distributions from this investment during the years ended December 31, 2015 and 2014. The carrying value of our investment in CWI 2 at December 31, 2016 includes asset management fees receivable, for which 46,439 shares of class A common stock of CWI 2 were issued during the first quarter of 2017 . 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 ). We received distributions from this investment during the years ended December 31, 2016 and 2015 of $3.3 million and $0.3 million , respectively. CCIF — W e received distributions from our investment in CCIF during the years ended December 31, 2016 and 2015 of $0.7 million and $0.8 million , respectively. CESH I — Under the limited partnership agreement we have with CESH I, we pay all organization and offering costs on behalf of CESH I, and instead of being reimbursed by CESH I on a dollar-for-dollar basis for those costs, we receive limited partnership units of CESH I equal to 2.5% of its gross offering proceeds ( Note 4 ). We have elected to account for our investment in CESH I at fair value by selecting the equity method fair value option available under U.S. GAAP. We record our investment in CESH I on a one quarter lag; therefore, the balance of our equity method investment in CESH I recorded as of December 31, 2016 is based on the estimated fair value of our equity method investment in CESH I as of September 30, 2016 . We did not receive distributions from this investment during the year ended December 31, 2016 . At December 31, 2016 and 2015 , the aggregate unamortized basis differences on our equity investments in the Managed Programs were $31.7 million and $27.4 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, 2016 2015 Real estate, net $ 8,464,447 $ 7,274,549 Other assets 2,737,441 2,492,789 Total assets 11,201,888 9,767,338 Debt (5,128,640 ) (4,535,506 ) Accounts payable, accrued expenses and other liabilities (943,090 ) (652,139 ) Total liabilities (6,071,730 ) (5,187,645 ) Noncontrolling interests (263,783 ) (287,051 ) Stockholders’ equity $ 4,866,375 $ 4,292,642 Years Ended December 31, 2016 2015 2014 Revenues $ 1,465,803 $ 1,157,432 $ 825,405 Expenses (1,265,819 ) (1,129,294 ) (816,630 ) Income from continuing operations $ 199,984 $ 28,138 $ 8,775 Net income (loss) attributable to the Managed Programs (a) (b) $ 145,936 $ (15,740 ) $ (12,695 ) __________ (a) Inclusive of impairment charges recognized by the Managed Programs totaling $31.4 million , $7.2 million , and $1.3 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. These impairment charges reduced our income earned from these investments by $1.0 million , $0.1 million , and less than $0.1 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. (b) Amounts included net gains on sale of real estate recorded by the Managed Programs totaling $132.8 million , $8.9 million , and $13.3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. These net gains on sale of real estate increased our income earned from these investments by $4.6 million , $0.1 million , and $0.4 million during the years ended December 31, 2016 , 2015 , and 2014 , 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): Carrying Value at December 31, Lessee Co-owner Ownership Interest 2016 2015 The New York Times Company CPA ® :17 – Global 45% $ 69,668 $ 70,976 Frontier Spinning Mills, Inc. CPA ® :17 – Global 40% 24,138 24,288 Beach House JV, LLC (a) Third Party N/A 15,105 15,318 Actebis Peacock GmbH (b) CPA ® :17 – Global 30% 11,205 12,186 Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH (b) CPA ® :17 – Global 33% 8,887 9,507 C1000 Logistiek Vastgoed B.V. (b) (c) CPA ® :17 – Global 15% 8,739 9,381 Wanbishi Archives Co. Ltd. (d) CPA ® :17 – Global 3% 334 335 $ 138,076 $ 141,991 __________ (a) This investment is in the form of a preferred equity interest. (b) The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. (c) This investment represents a tenancy-in-common interest, whereby the property is encumbered by the debt for which we are jointly and severally liable. The co-obligor is CPA ® :17 – Global and the amount due under the arrangement was approximately $68.4 million at December 31, 2016 . Of this amount, $10.3 million represents the amount we agreed to pay and is included within the carrying value of the investment at December 31, 2016 . (d) The carrying value of this investment is affected by fluctuations in the exchange rate of the yen. The following tables present estimated 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, 2016 2015 Real estate, net $ 460,198 $ 464,730 Other assets 56,737 64,989 Total assets 516,935 529,719 Debt (193,521 ) (201,611 ) Accounts payable, accrued expenses and other liabilities (10,354 ) (9,749 ) Total liabilities (203,875 ) (211,360 ) Stockholders’ equity $ 313,060 $ 318,359 Years Ended December 31, 2016 2015 2014 Revenues $ 56,791 $ 61,887 $ 64,294 Expenses (17,933 ) (21,124 ) (27,801 ) Income from continuing operations $ 38,858 $ 40,763 $ 36,493 Net income attributable to the jointly owned investments $ 38,858 $ 40,763 $ 36,493 We received aggregate distributions of $16.1 million , $13.3 million , and $12.5 million from our other unconsolidated real estate investments for the years ended December 31, 2016 , 2015 , and 2014 , respectively. At both December 31, 2016 and 2015 , the aggregate unamortized basis differences on our unconsolidated real estate investments were $6.7 million . Hellweg 2 Restructuring In 2007, Corporate Property Associates 14 Incorporated, or 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. Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH In the second quarter of 2015, we recognized equity income of approximately $2.1 million , representing our share of the bankruptcy proceeds received by this 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.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2016
Goodwill And Intangible Assets Liabilities Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles We have recorded net lease and internal-use software development intangibles that are being amortized over periods ranging from one year to 40 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 internal-use software development 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 2016 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Finite-Lived Intangible Assets In-place lease (a) 21.2 $ 124,742 Above-market rent 20.0 35,576 $ 160,318 Finite-Lived Intangible Liabilities Below-market rent 20.1 $ (604 ) __________ (a) Includes intangible assets totaling $29.8 million related to a deferred tax liability that we recorded in connection with an acquisition completed in 2016. We recorded a corresponding increase to the asset value of the acquisition, since we assumed the tax basis of the acquired entities as part of the acquisition of the shares of these entities. 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 Owned Real Estate 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): Owned Real Estate Investment Management Total Balance at January 1, 2014 $ 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 (a) 13,585 — 13,585 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (3,762 ) — (3,762 ) Balance at December 31, 2014 628,808 63,607 692,415 Foreign currency translation adjustments (10,548 ) — (10,548 ) Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (1,762 ) — (1,762 ) Other business combinations 1,704 — 1,704 Balance at December 31, 2015 618,202 63,607 681,809 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (34,405 ) — (34,405 ) Impairment charges ( Note 9 ) (10,191 ) — (10,191 ) Foreign currency translation adjustments (1,293 ) — (1,293 ) Balance at December 31, 2016 $ 572,313 $ 63,607 $ 635,920 __________ (a) Primarily relates to acquisition of an investment in Norway ( Note 5 ). (b) Goodwill is allocated to the cost basis of the properties based on the relative fair value of goodwill at the time the properties are sold or classified as held for sale. 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 2016 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, 2016 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-Lived Intangible Assets Internal-use software development costs $ 18,568 $ (5,068 ) $ 13,500 $ 18,188 $ (2,038 ) $ 16,150 Management contracts — — — 32,765 (32,765 ) — 18,568 (5,068 ) 13,500 50,953 (34,803 ) 16,150 Lease Intangibles: In-place lease and tenant relationship 1,148,232 (322,119 ) 826,113 1,205,585 (302,737 ) 902,848 Above-market rent 632,383 (210,927 ) 421,456 649,035 (173,963 ) 475,072 Below-market ground lease 23,140 (1,381 ) 21,759 25,403 (889 ) 24,514 1,803,755 (534,427 ) 1,269,328 1,880,023 (477,589 ) 1,402,434 Indefinite-Lived Goodwill and Intangible Assets Goodwill 635,920 — 635,920 681,809 — 681,809 Trade name 3,975 — 3,975 3,975 — 3,975 Below-market ground lease 866 — 866 895 — 895 640,761 — 640,761 686,679 — 686,679 Total intangible assets $ 2,463,084 $ (539,495 ) $ 1,923,589 $ 2,617,655 $ (512,392 ) $ 2,105,263 Finite-Lived Intangible Liabilities Below-market rent $ (133,137 ) $ 38,231 $ (94,906 ) $ (171,199 ) $ 44,873 $ (126,326 ) Above-market ground lease (12,948 ) 2,362 (10,586 ) (13,052 ) 1,774 (11,278 ) (146,085 ) 40,593 (105,492 ) (184,251 ) 46,647 (137,604 ) Indefinite-Lived Intangible Liabilities Below-market purchase option (16,711 ) — (16,711 ) (16,711 ) — (16,711 ) Total intangible liabilities $ (162,796 ) $ 40,593 $ (122,203 ) $ (200,962 ) $ 46,647 $ (154,315 ) Net amortization of intangibles, including the effect of foreign currency translation, was $163.8 million , $180.8 million , and $174.0 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Lease revenues; amortization of management contracts, internal-use software development, and 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, excluding reimbursable tenant costs. Based on the intangible assets and liabilities recorded at December 31, 2016 , 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 2017 $ 49,925 $ 98,909 $ 148,834 2018 47,663 95,452 143,115 2019 44,630 91,543 136,173 2020 36,950 83,386 120,336 2021 32,459 76,529 108,988 Thereafter 114,923 404,967 519,890 Total $ 326,550 $ 850,786 $ 1,177,336

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
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, foreign currency forward contracts, and foreign currency collars; 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 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. Equity Investment in CESH I — We have elected to account for our investment in CESH I at fair value by selecting the equity method fair value option available under U.S. GAAP ( Note 7 ). The fair value of our equity investment in CESH I approximated its carrying value as of December 31, 2016 . We did not have any transfers into or out of Level 1, Level 2, and Level 3 category of measurements during either the years ended December 31, 2016 or 2015 . Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): December 31, 2016 December 31, 2015 Level Carrying Value Fair Value Carrying Value Fair Value Senior Unsecured Notes, net (a) (b) (c) 2 $ 1,807,200 $ 1,828,829 $ 1,476,084 $ 1,459,544 Non-recourse debt, net (a) (b) (d) 3 1,706,921 1,711,364 2,269,421 2,293,542 Note receivable (d) 3 10,351 10,046 10,689 10,610 __________ (a) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net and Senior Unsecured Notes, net as of December 31, 2015 ( Note 2 ). The carrying value of Non-recourse debt, net includes unamortized deferred financing costs of $1.3 million and $1.8 million at December 31, 2016 and 2015 , respectively. The carrying value of Senior Unsecured Notes, net includes unamortized deferred financing costs of $12.1 million and $10.5 million at December 31, 2016 and 2015 , respectively. (b) The carrying value of Non-recourse debt, net includes unamortized discount of $0.2 million at December 31, 2016 and unamortized premium of $3.8 million at December 31, 2015 . The carrying value of Senior Unsecured Notes, net includes unamortized discount of $7.8 million at both December 31, 2016 and 2015 . (c) 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. (d) We determined the estimated fair value of these financial instruments using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity. 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, 2016 and 2015 . 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 assets for which we recorded an impairment charge and that were measured at fair value on a non-recurring basis (in thousands): Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Fair Value Total Impairment Impairment Charges in Continuing Operations Real estate $ 155,839 $ 52,316 $ 63,027 $ 26,597 $ 26,503 $ 21,738 Net investments in direct financing leases 23,775 6,987 65,132 3,309 39,158 1,329 Equity investments in real estate — — — — — 735 $ 59,303 $ 29,906 $ 23,802 Impairment charges, and their related triggering events and fair value measurements, recognized during 2016 , 2015 , and 2014 were as follows: Real Estate 2016 — During the year ended December 31, 2016, we recognized impairment charges totaling $52.3 million , inclusive of an amount attributable to a noncontrolling interest of $1.2 million , on 18 properties, including a portfolio of 14 properties, in order to reduce the carrying values of the properties to their estimated fair values. The fair value measurements for substantially all of these properties approximated their estimated selling prices, less estimated costs to sell. We recognized impairment charges on the portfolio of 14 properties totaling $41.0 million , including $10.2 million allocated to goodwill. We disposed of 15 of these properties during 2016 ( Note 17 ) and two of these properties in January 2017 ( Note 20 ). 2015 — During the year ended December 31, 2015, we recognized impairment charges totaling $26.6 million , inclusive of an amount attributable to a noncontrolling interest of $1.0 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 disposed of two of these properties during 2015, one of these properties during 2016, and one of these properties in January 2017 ( Note 20 ). 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. We disposed of this property in January 2017 ( Note 20 ). The building located on another property was demolished in connection with the redevelopment of the property, which commenced in December 2015 and was completed in October 2016 ( Note 5 ), 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. Net Investments in Direct Financing Leases 2016 — During the year ended December 31, 2016, we recognized an impairment charge of $7.0 million on one 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. The fair value measurement for the property approximated its estimated selling price, less estimated costs to sell. The property was classified as held for sale as of December 31, 2016. We sold this property in January 2017 ( Note 20 ). 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. Equity Investments in Real Estate During the year ended December 31, 2014, we recognized an other-than-temporary impairment charge of $0.7 million 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. 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.

Risk Management and Use of Deri

Risk Management and Use of Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2016
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 our Senior Unsecured Credit Facility and Senior Unsecured Notes ( Note 11 ). 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 or limited partnership units we hold in the Managed Programs due to changes in interest rates or other market factors. We own investments in North America, Europe, Australia, and Asia 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 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 as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive loss 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, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Foreign currency forward contracts Other assets, net $ 37,040 $ 38,975 $ — $ — Foreign currency collars Other assets, net 17,382 7,718 — — Interest rate swaps Other assets, net 190 — — — Interest rate cap Other assets, net 45 — — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (2,996 ) (4,762 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 3,752 3,618 — — Interest rate swaps (a) Other assets, net 9 9 — — Interest rate swaps (a) Accounts payable, accrued expenses and other liabilities — — — (2,612 ) Total derivatives $ 58,418 $ 50,320 $ (2,996 ) $ (7,374 ) __________ (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, 2016 and 2015 , 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 Gain (Loss) Recognized on Derivatives in Other Comprehensive Loss (Effective Portion) (a) Years Ended December 31, Derivatives in Cash Flow Hedging Relationships 2016 2015 2014 Foreign currency collars $ 9,679 $ 7,769 $ — Foreign currency forward contracts (1,948 ) 15,949 23,167 Interest rate swaps 1,291 (284 ) (2,628 ) Interest rate caps 21 64 290 Derivatives in Net Investment Hedging Relationships (b) Foreign currency forward contracts (462 ) 5,819 2,566 Total $ 8,581 $ 29,317 $ 23,395 Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive Loss (Effective Portion) (c) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2016 2015 2014 Foreign currency forward contracts Other income and (expenses) $ 7,442 $ 7,272 $ (103 ) Interest rate swaps and caps Interest expense (2,106 ) (2,291 ) (2,691 ) Foreign currency collars Other income and (expenses) 1,968 357 — Total $ 7,304 $ 5,338 $ (2,794 ) __________ (a) Excludes net gains of $0.2 million , $0.6 million , and $0.3 million recognized on unconsolidated jointly owned investments for the years ended December 31, 2016 , 2015 , and 2014 , 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 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 for the year ended December 31, 2014 . There were no such gains or losses recognized for the years ended December 31, 2016 or 2015 . Amounts reported in Other comprehensive loss related to interest rate swaps will be reclassified to Interest expense as interest is incurred on our variable-rate debt. Amounts reported in Other comprehensive loss 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, 2016 , we estimate that an additional $0.8 million and $14.4 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, 2016 2015 2014 Interest rate swaps Other income and (expenses) $ 2,682 $ 4,164 $ 3,186 Foreign currency collars Other income and (expenses) 824 514 — Stock warrants Other income and (expenses) 134 (134 ) 134 Foreign currency forward contracts Other income and (expenses) — (296 ) — Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 657 649 761 Foreign currency forward contracts Other income and (expenses) 40 45 — Foreign currency collars Other income and (expenses) (7 ) 23 — Total $ 4,330 $ 4,965 $ 4,081 __________ (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 notional, or 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 caps that our consolidated subsidiaries had outstanding at December 31, 2016 are summarized as follows (currency in thousands): Number of Instruments Notional Amount Fair Value at (a) Interest Rate Derivatives Designated as Cash Flow Hedging Instruments Interest rate swaps 13 118,145 USD $ (2,474 ) Interest rate swap 1 5,900 EUR (332 ) Interest rate cap 1 30,867 EUR 45 Not Designated as Cash Flow Hedging Instruments Interest rate swap (b) 1 2,993 USD 9 $ (2,752 ) __________ (a) Fair value amounts are based on the exchange rate of the euro at December 31, 2016 , as applicable. (b) This interest rate swap does not qualify for hedge accounting; however, it does 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. Our foreign currency forward contracts and foreign currency collars have maturities of 77 months or less. The following table presents the foreign currency derivative contracts we had outstanding at December 31, 2016 , which were designated as cash flow hedges (currency in thousands): Number of Instruments Notional Fair Value at December 31, 2016 Foreign Currency Derivatives Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 36 98,839 EUR $ 26,540 Foreign currency collars 20 43,000 GBP 11,095 Foreign currency collars 20 80,150 EUR 6,287 Foreign currency forward contracts 12 15,256 AUD 1,602 Foreign currency forward contracts 8 4,280 GBP 1,393 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 4 79,658 AUD 7,505 $ 54,422 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, 2016 . At December 31, 2016 , our total credit exposure and the maximum exposure to any single counterparty was $54.5 million and $29.5 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, 2016 , 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 $3.3 million and $8.2 million at December 31, 2016 and 2015 , respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions at December 31, 2016 or 2015 , we could have been required to settle our obligations under these agreements at their aggregate termination value of $3.3 million and $8.3 million , respectively. Net Investment Hedges At December 31, 2016 and 2015 , the amounts borrowed in euro outstanding under our Revolver ( Note 11 ) were €272.0 million and €361.0 million , respectively. Additionally, we have issued euro-denominated senior notes with a principal amount of €500.0 million ( Note 11 ), which we refer to as the 2.0% Senior Notes. 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 as part of the cumulative foreign currency translation adjustment. As a result, the borrowings in euro under our Revolver and 2.0% Senior Notes 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 as part of the cumulative foreign currency translation adjustment. At December 31, 2016 , we also 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, 2016
Debt Disclosure [Abstract]
Debt	Debt Senior Unsecured Credit Facility As of December 31, 2016 , we had a senior credit facility that provided for a $1.5 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. The Senior Unsecured Credit Facility also contained a $500.0 million accordion feature that, if exercised, subject to lender commitments, would have allowed us to increase our maximum borrowing capacity under our Revolver from $1.5 billion to $2.0 billion and under the Senior Unsecured Credit Facility in the aggregate to $2.25 billion . At December 31, 2016 , the Senior Unsecured Credit Facility also permitted (i) up to $750.0 million under our Revolver to be borrowed in certain currencies other than the U.S. dollar, (ii) swing line loans 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. We exercised a prior accordion feature for the Senior Unsecured Credit Facility on January 15, 2015, which allowed us to increase the maximum borrowing capacity of our Revolver from $1.0 billion to $1.5 billion . In connection with the exercise of this accordion feature, we incurred financing costs totaling $3.1 million , which are being amortized to Interest expense in the consolidated financial statements over the remaining terms of the facility. At December 31, 2016 , our Revolver had unused capacity of $823.3 million , excluding amounts reserved for outstanding letters of credit. As of December 31, 2016 , our lenders had issued letters of credit totaling $0.6 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 incur a facility fee of 0.20% of the total commitment on our Revolver. On January 29, 2016, we exercised our option to extend our Term Loan Facility by an additional year to January 31, 2017. On January 26, 2017, we exercised our second and final option to extend our Term Loan Facility by an additional year to January 31, 2018 ( Note 20 ). At December 31, 2016 , we also had an option to extend the maturity date of the Revolver by another year, subject to the conditions provided in the Second Amended and Restated Credit Agreement dated January 31, 2014, as amended, or the Credit Agreement. On February 22, 2017, we amended and restated our Senior Unsecured Credit Facility. We increased the capacity of our unsecured line of credit under our Amended Credit Facility to $1.85 billion , and extended the maturity dates of our revolving line of credit by four years and our term loan by five years ( Note 20 ). The following table presents a summary of our Senior Unsecured Credit Facility (dollars in millions): Interest Rate at December 31, 2016 (a) Principal Outstanding Balance at December 31, Senior Unsecured Credit Facility Maturity Date 2016 2015 Revolver: Revolver - borrowing in U.S. dollars (b) LIBOR + 1.10% 1/31/2018 $ 390.0 $ 92.0 Revolver - borrowing in euros (b) (c) EURIBOR + 1.10% 1/31/2018 286.7 393.0 676.7 485.0 Term Loan Facility (b) (d) LIBOR + 1.25% 1/31/2017 250.0 250.0 $ 926.7 $ 735.0 __________ (a) Interest rate at December 31, 2016 is based on our credit rating of BBB/Baa2 . (b) Our Term Loan Facility was scheduled to mature on January 31, 2017. However, on January 26, 2017, we exercised our option to extend the maturity of our Term Loan Facility by an additional year to January 31, 2018 ( Note 20 ). In addition, on February 22, 2017, we entered into our Amended Credit Facility and increased the capacity of our unsecured line of credit to $1.85 billion , and extended the maturity dates of our revolving line of credit by four years and our term loan by five years ( Note 20 ). (c) EURIBOR means Euro Interbank Offered Rate. (d) Balance excludes unamortized deferred financing costs of less than $0.1 million and $0.3 million at December 31, 2016 and 2015 , respectively ( Note 2 ). Senior Unsecured Notes As of December 31, 2016 , the senior unsecured notes set forth in the table below had an outstanding aggregate principal balance of $1.8 billion . We refer to these notes and our €500.0 million of 2.25% Senior Notes, as described below and in Note 20 , collectively as the Senior Unsecured Notes. On September 12, 2016 , we issued $350.0 million of 4.25% Senior Notes, at a price of 99.682% of par value, in a registered public offering. These 4.25% Senior Notes have a ten -year term and are scheduled to mature on October 1, 2026 . Interest on the Senior Unsecured Notes is payable annually in arrears for our euro-denominated notes and semi-annually for U.S. dollar-denominated notes. The Senior Unsecured Notes can be redeemed at par within three months of their respective maturities, or we can call the notes at any time for the principal, accrued interest, and a make-whole amount based upon the applicable government bond yield plus 30 to 35 basis points. The following table presents a summary of our Senior Unsecured Notes (currency in millions): Principal Amount Price of Par Value Original Issue Discount Effective Interest Rate Coupon Rate Maturity Date Principal Outstanding Balance at December 31, Senior Unsecured Notes, net (a) Issue Date 2016 2015 2.0% Senior Notes 1/21/2015 € 500.0 99.220 % $ 4.6 2.107 % 2.0 % 1/20/2023 $ 527.1 $ 544.4 4.6% Senior Notes 3/14/2014 $ 500.0 99.639 % $ 1.8 4.645 % 4.6 % 4/1/2024 500.0 500.0 4.0% Senior Notes 1/26/2015 $ 450.0 99.372 % $ 2.8 4.077 % 4.0 % 2/1/2025 450.0 450.0 4.25% Senior Notes 9/12/2016 $ 350.0 99.682 % $ 1.1 4.290 % 4.3 % 10/1/2026 350.0 — $ 1,827.1 $ 1,494.4 __________ (a) Aggregate balance excludes unamortized deferred financing costs totaling $12.1 million and $10.5 million ( Note 2 ) at December 31, 2016 and 2015 , respectively, and unamortized discount totaling $7.8 million at both December 31, 2016 and 2015 . 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 $3.1 million , $7.8 million , and $4.2 million during the years ended December 31, 2016 , 2015 , and 2014 respectively, which are included in Senior Unsecured Notes, net in the consolidated financial statements in accordance with our adoption of ASU 2015-03 ( Note 2 ), and are being amortized to Interest expense over the respective terms of the Senior Unsecured Notes. On January 19, 2017 , we completed a public offering of €500.0 million of 2.25% Senior Notes, at a price of 99.448% of par value, issued by our wholly owned subsidiary, WPC Eurobond B.V., which are guaranteed by us. These 2.25% Senior Notes have a 7.5 -year term and are scheduled to mature on July 19, 2024 ( Note 20 ). Covenants 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 Credit Agreement. We are required to ensure that the total Restricted Payments (as defined in the 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 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 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 Credit Agreement, with grace periods in some cases. The 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 Credit Agreement. In connection with entering into our Amended Credit Facility on February 22, 2017 ( Note 20 ), we obtained a waiver from our lenders stating that we were not required to certify that we were in compliance with these financial covenants under the Credit Agreement. However, as of December 31, 2016 , we were in compliance with the financial covenants contained within the Amended Credit Facility agreement. Non-Recourse Debt Non-recourse debt consists of mortgage notes payable, which are collateralized by the assignment of real estate properties. For a list of our encumbered properties, please see Schedule III — Real Estate and Accumulated Depreciation . At December 31, 2016 , our mortgage notes payable bore interest at fixed annual rates ranging from 2.0% to 7.8% and variable contractual annual rates ranging from 0.9% to 6.9% , with maturity dates ranging from January 2017 to June 2027 . During the year ended December 31, 2016 , we prepaid non-recourse mortgage loans totaling $321.7 million , including a mortgage loan of $50.8 million encumbering a property that was sold in August 2016 ( Note 17 ). In connection with these payments, we recognized a loss on extinguishment of debt of $4.1 million during the year ended December 31, 2016 , which was included in Other income and (expenses) in the consolidated financial statements. In addition, we made a balloon payment of $31.9 million at maturity on a non-recourse mortgage loan encumbering a portfolio of international properties and a balloon payment of $18.5 million at maturity on another non-recourse mortgage loan during 2016. See Note 20 , Subsequent Events. On July 29, 2016, a jointly owned investment with CPA ® :17 – Global, which we consolidate, refinanced a non-recourse mortgage loan that had an outstanding balance of $33.8 million with new financing of $34.6 million , inclusive of the amount attributable to a noncontrolling interest of $17.0 million . The previous loan had an interest rate of 5.9% and a maturity date of July 31, 2016. The new loan has a rate of EURIBOR plus a 3.3% margin and a term of five years. Interest Paid For the years ended December 31, 2016 , 2015 , and 2014 , interest paid was $182.2 million , $174.5 million , and $156.3 million , respectively. Foreign Currency Exchange Rate Impact During the year ended December 31, 2016 , the U.S. dollar strengthened against the euro and British pound sterling, resulting in an aggregate decrease of $45.2 million in the aggregate carrying values of our Non-recourse debt, Senior Unsecured Credit Facility - Revolver, and Senior Unsecured Notes, net from December 31, 2015 to December 31, 2016 . Scheduled Debt Principal Payments Scheduled debt principal payments during each of the next five calendar years following December 31, 2016 and thereafter through 2027 are as follows (in thousands): Years Ending December 31, Total (a) 2017 $ 768,480 2018 940,391 2019 99,566 2020 217,044 2021 156,985 Thereafter through 2027 2,279,751 Total principal payments 4,462,217 Deferred financing costs (b) (13,403 ) Unamortized discount, net (c) (8,000 ) Total $ 4,440,814 __________ (a) Certain amounts are based on the applicable foreign currency exchange rate at December 31, 2016 . (b) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ). (c) Represents the unamortized discount on the Senior Unsecured Notes totaling $7.8 million and the unamortized discount of $0.2 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, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Various 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.

Restructuring and Other Compens

Restructuring and Other Compensation	12 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Other Compensation	Restructuring and Other Compensation In connection with the resignation of our then-chief executive officer, Trevor P. Bond, 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 is 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 PSUs in accordance with their terms. In addition, the portion of his previously granted RSUs that were scheduled to vest on February 15, 2016, which would have been forfeited upon separation pursuant to their terms, were allowed to vest on that date. In connection with the separation agreement, we recorded $5.1 million of severance-related expenses during the year ended December 31, 2016, which are included in Restructuring and other compensation in the consolidated financial statements. In February 2016, we entered into an agreement with Catherine D. Rice, our former chief financial officer, in connection with the termination of her employment, which provides for the continued vesting of her outstanding RSUs and PSUs pursuant to their terms as though her employment had continued through their respective vesting dates. In connection with the modification of these award terms, we recorded incremental stock-based compensation expense of $2.4 million during the year ended December 31, 2016, which is included in Restructuring and other compensation in the consolidated financial statements. In March 2016, as part of a cost savings initiative, we undertook a reduction in force, or RIF, and realigned and consolidated certain positions within the company, resulting in employee headcount reductions. As a result of these reductions in headcount and the separations described above, during the year ended December 31, 2016, we recorded $8.2 million of severance and benefits, $3.2 million of stock-based compensation, and $0.5 million of other related costs, which are all included in Restructuring and other compensation in the consolidated financial statements. As of December 31, 2016, the accrued liability for these severance obligations was $3.3 million and is included within Accounts payable, accrued expenses and other liabilities in the consolidated financial statements.

Equity

Equity	12 Months Ended
	Dec. 31, 2016
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, 2016 , 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) (dollars per share): Distributions Paid During the Years Ended December 31, 2016 2015 2014 Ordinary income $ 3.3075 $ 3.5497 $ 3.6566 Return of capital 0.5963 0.2618 0.0584 Total distributions paid $ 3.9038 $ 3.8115 $ 3.7150 During the fourth quarter of 2016 , we declared a quarterly distribution of $0.9900 per share, which was paid on January 13, 2017 to stockholders of record on December 30, 2016, in the amount of $107.1 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, 2016 2015 2014 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income (886 ) (579 ) (1,007 ) Net income – basic 266,861 171,679 238,819 Income effect of dilutive securities, net of taxes — — (77 ) Net income – diluted $ 266,861 $ 171,679 $ 238,742 Weighted-average shares outstanding – basic 106,743,012 105,675,692 98,764,164 Effect of dilutive securities 330,191 831,960 1,063,192 Weighted-average shares outstanding – diluted 107,073,203 106,507,652 99,827,356 For the years ended December 31, 2016 , 2015 , and 2014 , there were no potentially dilutive securities excluded from the computation of diluted earnings per share. 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. During the year ended December 31, 2016 , we issued 1,249,836 shares of our common stock under the ATM program at a weighted-average price of $68.52 per share for net proceeds of $84.4 million . In addition, we paid $0.3 million of professional fees during 2016 related to the ATM program. As of December 31, 2016 , $314.4 million remained available for issuance under our 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, because, pursuant to a put option held by the third party, we had an obligation to redeem the interest at fair value, subject to certain conditions. This obligation was 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 were 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. In March 2016, we issued 217,011 shares of our common stock to the holder of the redeemable noncontrolling interest, which had a value of $13.4 million at the date of issuance pursuant to a formula set forth in the put agreement. Through the date of this Report, the third party has not formally transferred his interests in WPCI to us pursuant to the put agreement because of a dispute regarding any amounts that may still be owed to him. The following table presents a reconciliation of redeemable noncontrolling interest (in thousands): Years Ended December 31, 2016 2015 2014 Beginning balance $ 14,944 $ 6,071 $ 7,436 Distributions (13,418 ) — (926 ) Redemption value adjustment (561 ) 8,873 (306 ) Net income — — (142 ) Change in other comprehensive income — — 9 Ending balance $ 965 $ 14,944 $ 6,071 Transfers to Noncontrolling Interests The following table presents a reconciliation of the effect of transfers in noncontrolling interest (in thousands): Years Ended December 31, 2016 2015 2014 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 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 $ 267,747 $ 172,258 $ 198,452 Reclassifications Out of Accumulated Other Comprehensive Income (Loss) The following tables present a reconciliation of changes in Accumulated other comprehensive income (loss) 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, 2014 $ (7,488 ) $ 22,793 $ 31 $ 15,336 Other comprehensive 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 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 loss before reclassifications 29,391 (125,447 ) 15 (96,041 ) Amounts reclassified from accumulated other comprehensive 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 24,053 (125,447 ) 15 (101,379 ) Net current period other comprehensive loss attributable to noncontrolling interests — 4,647 — 4,647 Balance at December 31, 2015 37,650 (209,977 ) 36 (172,291 ) Other comprehensive loss before reclassifications 16,582 (92,434 ) (126 ) (75,978 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 2,106 — — 2,106 Other income and (expenses) (9,410 ) — — (9,410 ) Total (7,304 ) — — (7,304 ) Net current period other comprehensive loss 9,278 (92,434 ) (126 ) (83,282 ) Net current period other comprehensive loss attributable to noncontrolling interests 7 1,081 — 1,088 Balance at December 31, 2016 $ 46,935 $ (301,330 ) $ (90 ) $ (254,485 )

Stock-Based Compensation and Ot

Stock-Based Compensation and Other Compensation	12 Months Ended
	Dec. 31, 2016
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, 2016 , we maintained several stock-based compensation plans as described below. The total compensation expense (net of forfeitures) for awards issued under these plans was $21.2 million , $21.6 million , and $31.1 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively, of which $3.2 million was included in Restructuring and other compensation in the consolidated financial statements for the year ended December 31, 2016. The remaining amounts for the years ended December 31, 2016 , 2015 , and 2014 were included in Stock-based compensation expense in the consolidated financial statements. The tax benefit recognized by us related to these awards totaled $6.7 million , $12.5 million , and $17.3 million for the years ended December 31, 2016 , 2015 , and 2014 , 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, 2016 , there were 1,873,145 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, 2016 , 2015 , and 2014 , we awarded RSUs totaling 262,824 , 173,741 , and 172,460 , respectively, and PSUs totaling 200,005 , 75,277 , and 89,653 , 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 and 2014 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. At 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 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. In July 2016, we issued 13,860 RSAs with a total value of $1.0 million to our directors. At December 31, 2016 , there were 185,693 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 years ended December 31, 2016 and 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 year ended December 31, 2014 , 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, 2016 , 2015 , and 2014 was $0.1 million , less than $0.1 million , and $0.3 million , respectively. Restricted and Conditional Awards Nonvested RSAs, RSUs, and PSUs at December 31, 2016 and changes during the years ended December 31, 2016 , 2015 , and 2014 were as follows: RSA and RSU Awards PSU Awards Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Nonvested at January 1, 2014 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 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 356,771 64.09 340,358 52.26 Granted (c) 277,836 58.27 200,005 73.18 Vested (a) (217,617 ) 61.32 (180,723 ) 80.21 Forfeited (60,125 ) 61.81 (51,657 ) 75.49 Adjustment (b) — — 2,035 72.22 Nonvested at December 31, 2016 (d) 356,865 $ 61.63 310,018 $ 73.80 __________ (a) The total fair value of shares vested during the years ended December 31, 2016 , 2015 , and 2014 was $27.8 million , $58.1 million , and $56.4 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, 2016 and 2015 , we had an obligation to issue 1,217,274 and 1,395,907 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 $50.2 million and $56.0 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 on a one-for-one basis. 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, 2016 , we used risk-free interest rates ranging from 0.9% - 1.1% and expected volatility rates ranging from 18.2% - 19.1% (the plan defined peer index assumes a range of 15.0% - 15.6% ) and assumed a dividend yield of zero . (d) At December 31, 2016 , total unrecognized compensation expense related to these awards was approximately $19.6 million , with an aggregate weighted-average remaining term of less than 2 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, 2016 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding – beginning of year 258,787 $ 31.10 Exercised (113,002 ) 28.34 Canceled / Expired (752 ) 28.42 Outstanding – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Vested and expected to vest – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Exercisable – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Years Ended December 31, 2015 2014 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 475,765 $ 29.95 619,601 $ 30.30 Exercised (213,479 ) 28.57 (140,718 ) 31.41 Canceled / Expired (3,499 ) 28.71 (3,118 ) 32.99 Outstanding – end of year 258,787 $ 31.10 1.06 475,765 $ 29.95 1.75 Exercisable – end of year 236,112 $ 30.99 421,656 $ 29.75 Options granted under the 1997 Incentive Plan generally have a ten -year term and generally vested in four equal annual installments. We have not issued option awards since 2007. Our options will be fully expired in December 2017 . The total intrinsic value of options exercised during the years ended December 31, 2016 , 2015 , and 2014 was $3.7 million , $7.4 million , and $4.9 million , respectively. The tax benefit recognized by us related to these awards totaled $1.6 million during the year ended December 31, 2016 . At December 31, 2016 , all of our options were fully vested and exercisable, and all related compensation expense has been previously recognized. 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, 2016 , 2015 , and 2014 was $0.5 million , $0.5 million , and $1.9 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. In December 2016, 2015, and 2014, our board of directors determined that the contribution to the plan for each of those respective years would be 10% of an eligible participant’s compensation, up to the legal maximum allowable in each of those years of $26,500 for 2016 and 2015, and $26,000 for 2014. For the years ended December 31, 2016 , 2015 , and 2014 , amounts expensed for contributions to the trust were $3.9 million , $4.1 million , and $3.5 million , respectively, which were included in General and administrative expenses in the 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 During each of the periods presented, we had employment contracts with certain senior executives. These contracts also provided for severance payments in the event of termination under certain conditions ( Note 13 ). No such agreements were outstanding as of December 31, 2016 . During the years ended December 31, 2016 , 2015 , and 2014 , we recognized severance costs totaling approximately $0.5 million , $0.8 million , and $1.0 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, and exclude severance-related costs that are included in Restructuring and other compensation in the consolidated financial statements ( Note 13 ).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Federal Current $ 6,412 $ 10,551 $ 19,545 Deferred (1,608 ) 1,901 (7,609 ) 4,804 12,452 11,936 State and Local Current 7,014 9,075 13,422 Deferred (2,026 ) 1,158 (4,693 ) 4,988 10,233 8,729 Foreign Current 10,727 16,656 6,869 Deferred (17,231 ) (1,720 ) (9,925 ) (6,504 ) 14,936 (3,056 ) Total Provision $ 3,288 $ 37,621 $ 17,609 A reconciliation of effective income tax for the periods presented is as follows (in thousands): Years Ended December 31, 2016 2015 Pre-tax (loss) income attributable to taxable subsidiaries (a) $ (15,374 ) $ 72,343 Federal (benefit) provision at statutory tax rate (35%) $ (5,380 ) $ 25,244 Change in valuation allowance 6,477 9,074 Non-taxable income (5,399 ) (5,475 ) Non-deductible expense 3,111 6,982 State and local taxes, net of federal benefit 2,749 6,151 Rate differential 892 (10,589 ) Other 838 6,234 Total provision $ 3,288 $ 37,621 Year Ended December 31, 2014 Pre-tax income attributable to taxable subsidiaries $ 21,131 Federal provision at statutory tax rate (35%) $ 7,396 Recognition of taxable income as a result of the CPA ® :16 Merger (b) 4,833 State and local taxes, net of federal benefit 2,296 Interest 2,111 Dividend income from Managed REITs 939 Other 893 Tax provision — taxable subsidiaries 18,468 Deferred foreign tax benefit (c) (9,925 ) Current foreign taxes 6,869 Other state and local taxes 2,197 Total provision $ 17,609 __________ (a) Pre-tax loss attributable to taxable subsidiaries for 2016 was primarily driven by the impairment charges we recognized on international properties during the year ( Note 9 ). (b) 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. (c) Represents deferred tax benefit associated with basis differences on certain foreign properties acquired. Deferred Income Taxes Deferred income taxes at December 31, 2016 and 2015 consist of the following (in thousands): At December 31, 2016 2015 Deferred Tax Assets Unearned and deferred compensation $ 33,100 $ 35,525 Net operating loss and other tax credit carryforwards 31,381 19,553 Basis differences — foreign investments 28,324 6,975 Other 5,560 3,788 Total deferred tax assets 98,365 65,841 Valuation allowance (27,350 ) (29,746 ) Net deferred tax assets 71,015 36,095 Deferred Tax Liabilities Basis differences — foreign investments (123,269 ) (81,058 ) Basis differences — equity investees (17,282 ) (19,925 ) Deferred revenue (7,318 ) (8,654 ) Total deferred tax liabilities (147,869 ) (109,637 ) Net Deferred Tax Liability $ (76,854 ) $ (73,542 ) 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 second quarter of 2016, we identified and recorded out-of-period adjustments related to adjustments to prior period income tax returns. This adjustment is reflected as a $3.0 million increase in our Provision for income taxes in the consolidated statements of income for the year ended December 31, 2016 ( Note 2 ), and is included in current income tax expense for the year ended December 31, 2016. As of December 31, 2016 and 2015 , our taxable subsidiaries have recorded gross deferred tax assets of $31.4 million and $19.6 million , respectively, in connection with U.S. federal, state and local, and foreign net operating loss and other tax credit 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 will begin to expire in 2017 . As of December 31, 2016 and 2015 , we recorded a valuation allowance of $27.4 million and $29.7 million , respectively, related to these net operating loss carryforwards and basis difference in U.S. and foreign jurisdictions. The net deferred tax liability in the table above is comprised of deferred tax asset balances, net of certain deferred tax liabilities and valuation allowances, of $14.0 million and $12.6 million at December 31, 2016 and 2015 , respectively, which are included in Other assets, net in the consolidated balance sheets, and other deferred tax liability balances of $90.8 million and $86.1 million at December 31, 2016 and 2015 , respectively, which are included in Deferred income taxes in the consolidated balance sheets. 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, 2016 2015 Beginning balance $ 4,304 $ 2,055 Addition based on tax positions related to prior years 1,264 1,447 Addition based on tax positions related to the current year 137 1,510 Decrease due to lapse in statute of limitations (97 ) (572 ) Foreign currency translation adjustments (22 ) (136 ) Ending balance $ 5,586 $ 4,304 At December 31, 2016 and 2015 , 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, 2016 , we had approximately $1.1 million of accrued interest related to uncertain tax positions. Income Taxes Paid Income taxes paid were $19.3 million , $49.2 million , and $25.2 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Income taxes that would have been paid before the windfall tax benefit associated with stock-based compensation awards were $26.0 million , $61.7 million , and $30.9 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Owned Real Estate 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 Owned Real Estate 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 North America, Europe, Australia, 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 2012 through 2016 remain open to adjustment in the major tax jurisdictions.

Property Dispositions and Disco

Property Dispositions and Discontinued Operations	12 Months Ended
	Dec. 31, 2016
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, or that we acquired as held for sale in the CPA ® :16 Merger and sold during 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 Owned Real Estate 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, 2016 2015 2014 Revenues $ 96,625 $ 107,494 $ 98,959 Expenses (44,681 ) (62,606 ) (81,260 ) Gain on sale of real estate 71,122 6,487 1,334 Impairment charges (50,769 ) (4,071 ) (22,491 ) Loss on extinguishment of debt (4,498 ) (3,156 ) (167 ) Benefit from (provision for) income taxes 12,493 (7,187 ) (3,973 ) Income from continuing operations from properties sold or classified as held for sale, net of income taxes (a) $ 80,292 $ 36,961 $ (7,598 ) __________ (a) Amounts included net (income) loss attributable to noncontrolling interests of $(1.5) million , $(2.0) million , and $0.3 million , respectively, for the years ended December 31, 2016, 2015, and 2014, respectively. 2016 — During the year ended December 31, 2016, we sold 30 properties and a parcel of vacant land for total proceeds of $542.4 million , net of selling costs, and recognized a net gain on these sales of $42.6 million , inclusive of amounts attributable to noncontrolling interests of $0.9 million . During the year ended December 31, 2016, we recognized impairment charges totaling $41.0 million on a portfolio of 14 of these properties ( Note 9 ). In 2016, we transferred ownership of a vacant international property and the related non-recourse mortgage loan, which had a carrying value of $39.8 million and an outstanding balance of $60.9 million , respectively, on the date of transfer, to the mortgage lender, resulting in a net gain of $16.4 million . In addition, a vacant domestic property with an asset carrying value of $13.7 million , which was encumbered by a $24.3 million mortgage loan (net of $2.6 million of cash held in escrow that was retained by the mortgage lender), was foreclosed upon by the mortgage lender, resulting in a net gain of $11.6 million . We also transferred ownership of an international property and the related non-recourse mortgage loan to the mortgage lender. The property was held for sale at December 31, 2015 ( Note 5 ). At the date of the transfer, the property had an asset carrying value of $3.2 million and the related non-recourse mortgage loan had an outstanding balance of $4.5 million , resulting in a net gain of $0.6 million . During the year ended December 31, 2016, we entered into a contract to sell an international property, which was classified as held for sale as of December 31, 2016 ( Note 5 ), and which was previously included in Net investments in direct financing leases in our consolidated financial statements. In connection with this potential sale, we recognized an impairment charge of $7.0 million during the year ended December 31, 2016 to reduce the carrying value of the property to its estimated selling price ( Note 9 ). This property was sold in January 2017 ( Note 20 ). In connection with those sales that constituted businesses, during the year ended December 31, 2016 we allocated goodwill totaling $34.4 million to the cost basis of the properties for our Owned Real Estate 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 were amortized to lease termination income from the lease amendment date on December 4, 2015 through the end of the non-cancelable lease term on February 29, 2016, resulting in $15.0 million recognized during the year ended December 31, 2015 and $32.2 million recognized during the three months ended March 31, 2016 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 for the year ended December 31, 2015. 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 was held in escrow. At December 31, 2015, this property was classified as held for sale ( Note 5 ). During the three months ended March 31, 2016, we sold the property for proceeds of $44.4 million , net of selling costs, and recognized a loss on the sale of $10.7 million . 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 vacant domestic 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 Owned Real Estate segment, based on the relative fair value at the time of the sale ( Note 8 ). 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 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 held for sale ( 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 Owned Real Estate segment, based on the relative fair value at the time of the sale ( Note 8 ). 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 and sold during 2014, are reflected in the consolidated financial statements as discontinued operations, net of tax and are summarized as follows (in thousands): Years Ended December 31, 2016 2015 2014 Revenues $ — $ — $ 8,931 Expenses — — (2,039 ) Loss on extinguishment of debt — — (1,244 ) Gain on sale of real estate — — 27,670 Income from discontinued operations $ — $ — $ 33,318 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 . 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 Owned Real Estate 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 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.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We evaluate our results from operations by our two major business segments — Owned Real Estate and Investment Management ( Note 1 ). The following tables present a summary of comparative results and assets for these business segments (in thousands): Owned Real Estate Years Ended December 31, 2016 2015 2014 Revenues Lease revenues $ 663,463 $ 656,956 $ 573,829 Lease termination income and other 35,696 25,145 17,767 Operating property revenues 30,767 30,515 28,925 Reimbursable tenant costs 25,438 22,832 24,862 755,364 735,448 645,383 Operating Expenses Depreciation and amortization 272,274 276,236 233,099 Impairment charges 59,303 29,906 23,067 Property expenses, excluding reimbursable tenant costs 49,431 52,199 37,725 General and administrative 34,591 47,676 38,797 Reimbursable tenant costs 25,438 22,832 24,862 Stock-based compensation expense 5,224 7,873 12,659 Restructuring and other compensation 4,413 — — Property acquisition and other expenses 2,993 (9,908 ) 34,465 453,667 426,814 404,674 Other Income and Expenses Interest expense (183,409 ) (194,326 ) (178,122 ) Equity in earnings of equity method investments in the Managed REITs and real estate 62,724 52,972 44,116 Other income and (expenses) 3,665 1,952 (14,505 ) Gain on change in control of interests — — 105,947 (117,020 ) (139,402 ) (42,564 ) Income from continuing operations before income taxes and gain on sale of real estate 184,677 169,232 198,145 Benefit from (provision for) income taxes 3,418 (17,948 ) 916 Income from continuing operations before gain on sale of real estate 188,095 151,284 199,061 Income from discontinued operations, net of tax — — 33,318 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net Income from Owned Real Estate 259,413 157,771 233,960 Net income attributable to noncontrolling interests (7,060 ) (10,961 ) (5,573 ) Net Income from Owned Real Estate Attributable to W. P. Carey $ 252,353 $ 146,810 $ 228,387 Investment Management Years Ended December 31, 2016 2015 2014 Revenues Reimbursable costs from affiliates $ 66,433 $ 55,837 $ 130,212 Asset management revenue 61,971 49,984 38,063 Structuring revenue 47,328 92,117 71,256 Dealer manager fees 8,002 4,794 23,532 Other advisory revenue 2,435 203 — 186,169 202,935 263,063 Operating Expenses Reimbursable costs from affiliates 66,433 55,837 130,212 General and administrative 47,761 55,496 52,791 Subadvisor fees 14,141 11,303 5,501 Dealer manager fees and expenses 12,808 11,403 21,760 Stock-based compensation expense 12,791 13,753 18,416 Restructuring and other compensation 7,512 — — Depreciation and amortization 4,236 4,079 4,024 Property acquisition and other expenses 2,384 2,144 — 168,066 154,015 232,704 Other Income and Expenses Other income and (expenses) 2,002 161 275 Equity in earnings (losses) of equity method investment in CCIF 1,995 (1,952 ) — 3,997 (1,791 ) 275 Income from continuing operations before income taxes 22,100 47,129 30,634 Provision for income taxes (6,706 ) (19,673 ) (18,525 ) Net Income from Investment Management 15,394 27,456 12,109 Net income attributable to noncontrolling interests — (2,008 ) (812 ) Net loss attributable to redeemable noncontrolling interest — — 142 Net Income from Investment Management Attributable to W. P. Carey $ 15,394 $ 25,448 $ 11,439 Total Company Years Ended December 31, 2016 2015 2014 Revenues $ 941,533 $ 938,383 $ 908,446 Operating expenses 621,733 580,829 637,378 Other income and (expenses) (113,023 ) (141,193 ) (42,289 ) Provision for income taxes (3,288 ) (37,621 ) (17,609 ) Income from discontinued operations, net of tax — — 33,318 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net income attributable to noncontrolling interests (7,060 ) (12,969 ) (6,385 ) Net loss attributable to redeemable noncontrolling interest — — 142 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 Total Long-Lived Assets (a) at December 31, Total Assets at December 31, 2016 2015 2016 2015 (b) Owned Real Estate $ 5,787,071 $ 6,079,803 $ 8,242,263 $ 8,537,544 Investment Management 23,528 22,214 211,691 204,545 Total Company $ 5,810,599 $ 6,102,017 $ 8,453,954 $ 8,742,089 __________ (a) 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 ). (b) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ). Our portfolio is comprised of domestic and international investments. At December 31, 2016 , our international investments within our Owned Real Estate segment were comprised of investments in Germany, the United Kingdom, Spain, Finland, Poland, the Netherlands, France, 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, 2016 , 2015 , or 2014 . The following tables present the geographic information (in thousands): Years Ended December 31, 2016 2015 2014 Domestic Revenues $ 490,134 $ 468,703 $ 426,578 Operating expenses (274,013 ) (296,265 ) (284,362 ) Interest expense (149,615 ) (153,219 ) (117,603 ) Other income and expenses, excluding interest expense 59,683 50,891 146,156 Provision for income taxes (4,808 ) (6,219 ) (3,238 ) Gain (loss) on sale of real estate, net of tax 56,492 2,941 (5,119 ) Net income attributable to noncontrolling interests (7,591 ) (5,358 ) (4,233 ) Net loss attributable to noncontrolling interests in discontinued operations — — (179 ) Income from continuing operations attributable to W. P. Carey $ 170,282 $ 61,474 $ 158,000 Germany Revenues $ 68,372 $ 65,777 $ 72,978 Operating (expenses) benefits (a) (28,473 ) 818 (40,847 ) Interest expense (15,681 ) (15,432 ) (18,880 ) Other income and expenses, excluding interest expense 649 4,175 (10,698 ) (Provision for) benefit from income taxes (4,083 ) (4,357 ) 3,163 Gain on sale of real estate, net of tax — 21 — Net income attributable to noncontrolling interests 252 (5,537 ) (1,017 ) Income from continuing operations attributable to W. P. Carey $ 21,036 $ 45,465 $ 4,699 Other International Revenues $ 196,858 $ 200,968 $ 145,827 Operating expenses (151,181 ) (131,367 ) (79,465 ) Interest expense (18,113 ) (25,675 ) (41,639 ) Other income and expenses, excluding interest expense 6,057 (142 ) 100 Benefit from (provision for) income taxes 12,309 (7,372 ) 991 Gain on sale of real estate, net of tax 14,826 3,525 6,700 Net loss (income) attributable to noncontrolling interests 279 (66 ) (323 ) Income from continuing operations attributable to W. P. Carey $ 61,035 $ 39,871 $ 32,191 Total Revenues $ 755,364 $ 735,448 $ 645,383 Operating expenses (453,667 ) (426,814 ) (404,674 ) Interest expense (183,409 ) (194,326 ) (178,122 ) Other income and expenses, excluding interest expense 66,389 54,924 135,558 Benefit from (provision for) income taxes 3,418 (17,948 ) 916 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net income attributable to noncontrolling interests (7,060 ) (10,961 ) (5,573 ) Net loss attributable to noncontrolling interests in discontinued operations — — (179 ) Income from continuing operations attributable to W. P. Carey $ 252,353 $ 146,810 $ 194,890 December 31, 2016 2015 Domestic Long-lived assets (b) $ 3,784,905 $ 3,794,232 Total assets (c) 5,517,050 5,435,251 Germany Long-lived assets (b) $ 545,672 $ 581,283 Total assets (c) 718,397 790,895 Other International Long-lived assets (b) $ 1,456,494 $ 1,704,288 Total assets (c) 2,006,816 2,311,398 Total Long-lived assets (b) $ 5,787,071 $ 6,079,803 Total assets (c) 8,242,263 8,537,544 __________ (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 ). (c) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ).

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) (dollars in thousands, except per share amounts) Three Months Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues (a) $ 270,240 $ 217,266 $ 225,247 $ 228,780 Expenses 180,000 160,697 136,472 144,564 Net income (a) (b) 60,864 53,171 112,302 48,470 Net income attributable to noncontrolling interests (3,425 ) (1,510 ) (1,359 ) (766 ) Net income attributable to W. P. Carey (a) (b) $ 57,439 $ 51,661 $ 110,943 $ 47,704 Earnings per share attributable to W. P. Carey: Basic $ 0.54 $ 0.48 $ 1.03 $ 0.44 Diluted $ 0.54 $ 0.48 $ 1.03 $ 0.44 Distributions declared per share $ 0.9742 $ 0.9800 $ 0.9850 $ 0.9900 Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues (c) $ 220,388 $ 238,079 $ 214,666 $ 265,250 Expenses (d) 140,479 130,382 159,066 150,902 Net income (c) (d) 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 W. P. Carey (c) (d) $ 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 __________ (a) Amount for the three months ended March 31, 2016 includes lease termination income of $32.2 million recognized in connection with a domestic property that was sold during the period ( Note 17 ). (b) Amount for the three months ended September 30, 2016 includes an aggregate gain on sale of real estate of $49.1 million recognized on the disposition of four properties ( Note 17 ). (c) Amount for the three months ended December 31, 2015 includes $15.0 million of termination income related to a domestic property that was classified as held for sale as of December 31, 2015. The property was subsequently sold during the first quarter of 2016 ( Note 17 ). (d) 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 ).

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Issuance of Senior Unsecured Notes On January 19, 2017 , we completed a public offering of €500.0 million of 2.25% Senior Notes, at a price of 99.448% of par value, issued by our wholly owned subsidiary, WPC Eurobond B.V., which are guaranteed by us. These 2.25% Senior Notes have a 7.5 -year term and are scheduled to mature on July 19, 2024 . Senior Unsecured Credit Facility On January 26, 2017, we exercised our option to extend our Term Loan Facility ( Note 11 ) by an additional year to January 31, 2018. In connection with the extension, we incurred financing costs of $0.3 million . Amended Credit Facility On February 22, 2017, we amended and restated our Senior Unsecured Credit Facility. We increased the capacity of our unsecured line of credit under our Amended Credit Facility to $1.85 billion , which is comprised of a $1.5 billion revolving line of credit maturing in four years with two six-month extension options, a €236.3 million term loan maturing in five years, and a $100.0 million delayed draw term loan also maturing in five years. The delayed draw term loan may be drawn within one year and allows for borrowings in U.S. dollars, euros, or British pounds sterling. We will incur interest at LIBOR, or a LIBOR equivalent, plus 1.00% on the revolving line of credit, EURIBOR plus 1.10% on the term loan, and LIBOR, or a LIBOR equivalent, plus 1.10% on the delayed draw term loan. Mortgage Loan Repayments In January 2017, we repaid five non-recourse mortgage loans with an aggregate principal balance of approximately $273.5 million , including three international mortgage loans with an aggregate principal balance of approximately $262.4 million ( €245.9 million ). Included in these amounts were mortgage loans totaling $243.8 million ( €228.6 million ), inclusive of amounts attributable to a noncontrolling interest of $89.0 million ( €83.5 million ), encumbering the Hellweg 2 portfolio. Dispositions On January 25, 2017, we sold an international property that was held for sale as of December 31, 2016 ( Note 5 ) for gross proceeds of $24.3 million ( €22.6 million ). In addition, in January 2017, we transferred ownership of two international properties and the related non-recourse mortgage loan to the mortgage lender. At the dates of the transfers, the properties had an aggregate asset carrying value of $31.3 million ( €29.6 million ) and the related non-recourse mortgage loan had an outstanding balance of $31.9 million ( €30.2 million ). Repayments of Loans to Affiliate During January and February 2017, CWI 2 repaid in full the $210.0 million loan that was outstanding to us at December 31, 2016. Management Change On February 1, 2017, we announced that our board of directors had appointed Ms. ToniAnn Sanzone as our chief financial officer, effective immediately. Ms. Sanzone had been serving as our interim chief financial officer since October 14, 2016. Issuance of Stock-Based Compensation Awards During the first quarter of 2017 and through the date of this Report, in connection with our LTIP award program ( Note 15 ), we issued 173,995 RSUs, 107,934 PSUs, and 2,656 RSAs to key employees, which will have a dilutive impact on our future earnings per share calculations.

Schedule II - Valuation And Qua

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
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, 2016 , 2015 , and 2014 (in thousands) Description Balance at Beginning of Year Other Additions Deductions Balance at End of Year Year Ended December 31, 2016 Valuation reserve for deferred tax assets $ 29,746 $ 8,810 $ (11,206 ) $ 27,350 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

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
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, 2016 (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 $ 10,794 $ 1,526 $ 21,427 $ 2,966 $ 141 $ 1,526 $ 24,534 $ 26,060 $ 12,048 1979; 1987 Jan. 1998 40 yrs. Industrial facilities in Thurmont, MD and Farmington, NY — 729 5,903 — — 729 5,903 6,632 1,057 1964; 1983 Jan. 1998 15 yrs. Retail facility in Montgomery, AL — 855 6,762 277 (6,978 ) 142 774 916 490 1987 Jan. 1998 40 yrs. Warehouse facilities in Anchorage, AK and Commerce, CA — 4,905 11,898 — 12 4,905 11,910 16,815 4,018 1948; 1975 Jan. 1998 40 yrs. Industrial facility in Toledo, OH — 224 2,408 — — 224 2,408 2,632 1,405 1966 Jan. 1998 40 yrs. Industrial facility in Goshen, IN — 239 940 — — 239 940 1,179 321 1973 Jan. 1998 40 yrs. Office facility in Raleigh, NC — 1,638 2,844 187 (2,554 ) 828 1,287 2,115 737 1983 Jan. 1998 20 yrs. Office facility in King of Prussia, PA — 1,219 6,283 1,295 — 1,219 7,578 8,797 3,445 1968 Jan. 1998 40 yrs. Industrial facility in Pinconning, MI — 32 1,692 — — 32 1,692 1,724 804 1948 Jan. 1998 40 yrs. Industrial facilities in San Fernando, CA 6,466 2,052 5,322 — (1,889 ) 1,494 3,991 5,485 1,913 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 12,618 9,025 13,213 22,238 1,779 Various Jan. 1998 15 yrs. Land in Glendora, CA — 1,135 — — 17 1,152 — 1,152 — N/A Jan. 1998 N/A Warehouse facility in Doraville, GA — 3,288 9,864 15,374 (11,409 ) 3,288 13,829 17,117 58 2016 Jan. 1998 40 yrs. Office facility in Collierville, TN and warehouse facility in Corpus Christi, TX 47,006 3,490 72,497 — (15,609 ) 288 60,090 60,378 11,877 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 8,984 5,035 18,957 7,435 541 5,035 26,933 31,968 12,102 1989 Jan. 1998 40 yrs. Office facility in Bridgeton, MO — 842 4,762 2,523 71 842 7,356 8,198 2,886 1972 Jan. 1998 40 yrs. Retail facilities in Drayton Plains, MI and Citrus Heights, CA — 1,039 4,788 236 193 1,039 5,217 6,256 1,576 1972 Jan. 1998 35 yrs. Warehouse facility in Memphis, TN — 1,882 3,973 294 (3,892 ) 328 1,929 2,257 942 1969 Jan. 1998 15 yrs. Retail facility in Bellevue, WA — 4,125 11,812 393 (123 ) 4,371 11,836 16,207 5,495 1994 Apr. 1998 40 yrs. Warehouse facilities in Houston, TX — 3,260 22,574 1,628 (26,145 ) 211 1,106 1,317 268 1982 Jun. 1998 40 yrs. Office facility in Rio Rancho, NM — 1,190 9,353 3,016 — 2,287 11,272 13,559 4,888 1999 Jul. 1998 40 yrs. Office facility in Moorestown, NJ — 351 5,981 1,516 43 351 7,540 7,891 3,637 1964 Feb. 1999 40 yrs. Office facility in Illkirch, France 6,993 — 18,520 6 (4,352 ) — 14,174 14,174 9,325 2001 Dec. 2001 40 yrs. Industrial facilities in Lenexa, KS and Winston-Salem, NC — 1,860 12,539 2,875 (1,135 ) 1,725 14,414 16,139 4,731 1968; 1980 Sep. 2002 40 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Office facilities in Playa Vista and Venice, CA 45,301 2,032 10,152 52,817 1 5,889 59,113 65,002 9,967 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 1,426 1995 Sep. 2004 40 yrs. Industrial facility in Scottsdale, AZ — 586 46 — — 586 46 632 14 1988 Sep. 2004 40 yrs. Retail facility in Hot Springs, AR — 850 2,939 2 (2,614 ) — 1,177 1,177 362 1985 Sep. 2004 40 yrs. Warehouse facilities in Apopka, FL — 362 10,855 920 (155 ) 337 11,645 11,982 3,335 1969 Sep. 2004 40 yrs. Land in San Leandro, CA — 1,532 — — — 1,532 — 1,532 — N/A Dec. 2006 N/A Fitness facility in Austin, TX 2,466 1,725 5,168 — — 1,725 5,168 6,893 1,829 1995 Dec. 2006 29 yrs. Retail facility in Wroclaw, Poland 6,188 3,600 10,306 — (4,373 ) 2,636 6,897 9,533 1,554 2007 Dec. 2007 40 yrs. Office facility in Fort Worth, TX 31,081 4,600 37,580 — — 4,600 37,580 42,180 6,499 2003 Feb. 2010 40 yrs. Warehouse facility in Mallorca, Spain — 11,109 12,636 — (2,791 ) 9,785 11,169 20,954 1,835 2008 Jun. 2010 40 yrs. Retail facilities in Florence, AL; Snellville, GA; Concord, NC; Rockport, TX; and Virginia Beach, VA 21,984 5,646 12,367 — — 5,646 12,367 18,013 1,412 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 135,299 32,680 198,999 — — 32,680 198,999 231,679 23,301 1989; 1990 Sep. 2012 34 - 37 yrs. Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH 7,310 4,403 20,298 — (3,870 ) 2,589 18,242 20,831 2,082 1968; 1975; 1995 Sep. 2012; Jan. 2014 30 yrs. Land in Irvine, CA 1,619 4,173 — — — 4,173 — 4,173 — N/A Sep. 2012 N/A Industrial facility in Alpharetta, GA 7,014 2,198 6,349 1,248 — 2,198 7,597 9,795 921 1997 Sep. 2012 30 yrs. Office facility in Clinton, NJ 21,952 2,866 34,834 — — 2,866 34,834 37,700 4,943 1987 Sep. 2012 30 yrs. Office facilities in St. Petersburg, FL — 3,280 24,627 — — 3,280 24,627 27,907 3,483 1996; 1999 Sep. 2012 30 yrs. Movie theater in Baton Rouge, LA — 4,168 5,724 — — 4,168 5,724 9,892 813 2003 Sep. 2012 30 yrs. Industrial and office facility in San Diego, CA — 7,804 16,729 1,725 — 7,804 18,454 26,258 2,774 2002 Sep. 2012 30 yrs. Industrial facility in Richmond, CA — 895 1,953 — — 895 1,953 2,848 277 1999 Sep. 2012 30 yrs. Warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX 56,061 16,386 84,668 — — 16,386 84,668 101,054 11,916 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 2,514 Various Sep. 2012 30 yrs. Industrial facilities in Chattanooga, TN — 558 5,923 — — 558 5,923 6,481 831 1974; 1989 Sep. 2012 30 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 facility in Mooresville, NC 4,536 756 9,775 — — 756 9,775 10,531 1,368 1997 Sep. 2012 30 yrs. Industrial facility in McCalla, AL — 960 14,472 7,466 — 2,076 20,822 22,898 3,337 2004 Sep. 2012 31 yrs. Office facility in Lower Makefield Township, PA 9,052 1,726 12,781 — — 1,726 12,781 14,507 1,784 2002 Sep. 2012 30 yrs. Industrial facility in Fort Smith, AZ — 1,063 6,159 — — 1,063 6,159 7,222 853 1982 Sep. 2012 30 yrs. Retail facilities in Greenwood, IN and Buffalo, NY 8,176 — 19,990 — — — 19,990 19,990 2,738 2000; 2003 Sep. 2012 30 - 31 yrs. Industrial facilities in Bowling Green, KY and Jackson, TN 6,004 1,492 8,182 — — 1,492 8,182 9,674 1,130 1989; 1995 Sep. 2012 31 yrs. Education facilities in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA 30,593 14,006 33,683 — (1,961 ) 12,045 33,683 45,728 4,480 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 9,131 6,559 19,078 — — 6,559 19,078 25,637 2,613 Various Sep. 2012 31 yrs. Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY 11,285 6,080 23,424 — — 6,080 23,424 29,504 3,183 1990; 1994; 2000 Sep. 2012 31 yrs. Land in Kahl, Germany — 6,694 — — (1,207 ) 5,487 — 5,487 — N/A Sep. 2012 N/A Fitness facilities in Englewood, CO; Memphis TN; and Bedford, TX 7,210 4,877 4,258 5,169 4,823 4,877 14,250 19,127 1,462 1990; 1995; 2001 Sep. 2012 31 yrs. Office facility in Mons, Belgium 7,061 1,505 6,026 653 (1,504 ) 1,234 5,446 6,680 697 1982 Sep. 2012 32 yrs. Warehouse facilities in Oceanside, CA and Concordville, PA 3,354 3,333 8,270 — — 3,333 8,270 11,603 1,127 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 43,024 Various Sep. 2012 31 yrs. Warehouse facility in La Vista, NE 20,675 4,196 23,148 — — 4,196 23,148 27,344 2,941 2005 Sep. 2012 33 yrs. Office facility in Pleasanton, CA 9,584 3,675 7,468 — — 3,675 7,468 11,143 1,004 2000 Sep. 2012 31 yrs. Office facility in San Marcos, TX — 440 688 — — 440 688 1,128 92 2000 Sep. 2012 31 yrs. Office facilities in Espoo, Finland 31,853 40,555 15,662 — (24,614 ) 23,499 8,104 31,603 377 1972; 1975 Sep. 2012 31 yrs. Office facility in Chicago, IL 13,753 2,169 19,010 — — 2,169 19,010 21,179 2,536 1910 Sep. 2012 31 yrs. Industrial facility in Louisville, CO 7,201 5,342 8,786 1,849 — 5,481 10,496 15,977 1,745 1993 Sep. 2012 31 yrs. Industrial facilities in Hollywood and Orlando, FL — 3,639 1,269 — — 3,639 1,269 4,908 169 1996 Sep. 2012 31 yrs. Warehouse facility in Golden, CO — 808 4,304 77 — 808 4,381 5,189 641 1998 Sep. 2012 30 yrs. Industrial facility in Texarkana, TX — 1,755 4,493 — (2,783 ) 216 3,249 3,465 433 1997 Sep. 2012 31 yrs. Industrial facility in Eugene, OR 4,360 2,286 3,783 — — 2,286 3,783 6,069 505 1980 Sep. 2012 31 yrs. Industrial facility in South Jordan, UT 11,940 2,183 11,340 — — 2,183 11,340 13,523 1,513 1995 Sep. 2012 31 yrs. Warehouse facility in Ennis, TX 2,232 478 4,087 145 — 478 4,232 4,710 667 1989 Sep. 2012 31 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Retail facility in Braintree, MA 2,958 2,409 — 6,184 (1,403 ) 1,006 6,184 7,190 588 1994 Sep. 2012 30 yrs. Office facility in Paris, France 53,713 23,387 43,450 — (12,053 ) 19,170 35,614 54,784 4,629 1975 Sep. 2012 32 yrs. Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland 107,618 26,564 72,866 — (17,930 ) 21,774 59,726 81,500 10,663 Various Sep. 2012 23 - 34 yrs. Industrial facility in Laupheim, Germany — 2,072 8,339 — (1,877 ) 1,699 6,835 8,534 1,456 1960 Sep. 2012 20 yrs. Industrial facilities in Danbury, CT and Bedford, MA 9,078 3,519 16,329 — — 3,519 16,329 19,848 2,324 1965; 1980 Sep. 2012 29 yrs. Warehouse facilities in Venlo, Netherlands — 10,154 18,590 — (5,443 ) 8,231 15,070 23,301 1,631 1998; 1999 Apr. 2013 35 yrs. Industrial and office facility in Tampere, Finland — 2,309 37,153 — (7,554 ) 1,843 30,065 31,908 3,442 2012 Jun. 2013 40 yrs. Office facility in Quincy, MA — 2,316 21,537 — — 2,316 21,537 23,853 2,073 1989 Jun. 2013 40 yrs. Office facility in Salford, United Kingdom — — 30,012 — (6,392 ) — 23,620 23,620 2,022 1997 Sep. 2013 40 yrs. Office facility in Lone Tree, CO — 4,761 28,864 2,822 — 4,761 31,686 36,447 2,713 2001 Nov. 2013 40 yrs. Office facility in Mönchengladbach, Germany 27,988 2,154 6,917 44,205 (3,449 ) 2,024 47,803 49,827 1,631 2015 Dec. 2013 40 yrs. Fitness facility in Houston, TX 3,172 2,430 2,270 — — 2,430 2,270 4,700 295 1995 Jan. 2014 23 yrs. Fitness facility in St. Charles, MO — 1,966 1,368 80 — 1,966 1,448 3,414 154 1987 Jan. 2014 27 yrs. Fitness facility in Salt Lake City, UT 2,814 856 2,804 — — 856 2,804 3,660 316 1999 Jan. 2014 26 yrs. Land in Scottsdale, AZ 10,316 22,300 — — — 22,300 — 22,300 — N/A Jan. 2014 N/A Industrial facility in Aurora, CO 2,952 737 2,609 — — 737 2,609 3,346 241 1985 Jan. 2014 32 yrs. Warehouse facility in Burlington, NJ — 3,989 6,213 377 — 3,989 6,590 10,579 733 1999 Jan. 2014 26 yrs. Industrial facility in Albuquerque, NM — 2,467 3,476 606 — 2,467 4,082 6,549 429 1993 Jan. 2014 27 yrs. Industrial facilities in North Salt Lake, UT and Radford, VA 1,350 10,601 17,626 — (14,477 ) 4,963 8,787 13,750 979 1981; 1998 Jan. 2014 26 yrs. Industrial facilities in Lexington, NC and Murrysville, PA — 2,185 12,058 — 2,713 1,608 15,348 16,956 1,613 1940; 1995 Jan. 2014 28 yrs. Land in Welcome, NC — 980 11,230 — (11,724 ) 486 — 486 — N/A Jan. 2014 N/A Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD 25,292 4,005 44,192 — — 4,005 44,192 48,197 5,405 1911; 1967; 1982 Jan. 2014 24 yrs. Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN 19,214 8,451 25,457 — 298 8,451 25,755 34,206 2,615 1978; 1979; 1986 Jan. 2014 17 - 34 yrs. Retail facility in Torrance, CA 24,215 8,412 12,241 1,213 (77 ) 8,335 13,454 21,789 1,573 1973 Jan. 2014 25 yrs. Office facility in Houston, TX 3,393 6,578 424 223 — 6,578 647 7,225 81 1978 Jan. 2014 27 yrs. Land in Doncaster, United Kingdom — 4,257 4,248 — (7,893 ) 612 — 612 — N/A Jan. 2014 N/A SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Norwich, CT 10,695 3,885 21,342 — 2 3,885 21,344 25,229 2,203 1960 Jan. 2014 28 yrs. Warehouse facility in Norwich, CT — 1,437 9,669 — — 1,437 9,669 11,106 998 2005 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 1,151 1986; 1992 Jan. 2014 23 yrs. Retail facilities in York, PA 8,603 3,776 10,092 — — 3,776 10,092 13,868 949 1992; 2005 Jan. 2014 26 - 34 yrs. Industrial facility in Pittsburgh, PA — 1,151 10,938 — — 1,151 10,938 12,089 1,288 1991 Jan. 2014 25 yrs. Warehouse facilities in Atlanta, GA and Elkwood, VA — 5,356 4,121 — (2,104 ) 4,284 3,089 7,373 324 1975 Jan. 2014 28 yrs. Warehouse facility in Harrisburg, NC — 1,753 5,840 — (111 ) 1,642 5,840 7,482 653 2000 Jan. 2014 26 yrs. Education facility in Nashville, TN 5,240 1,098 7,043 2,611 — 1,098 9,654 10,752 799 1988 Jan. 2014 31 yrs. Industrial facility in Chandler, AZ; industrial, office, and warehouse facility in Englewood, CO; and land in Englewood, CO 4,989 4,306 7,235 — 3 4,306 7,238 11,544 698 1978; 1987 Jan. 2014 30 yrs. Industrial facility in Cynthiana, KY 2,358 1,274 3,505 480 (107 ) 1,274 3,878 5,152 363 1967 Jan. 2014 31 yrs. Industrial facility in Columbia, SC — 2,843 11,886 — — 2,843 11,886 14,729 1,534 1962 Jan. 2014 23 yrs. Land in Midlothian, VA — 2,824 — — — 2,824 — 2,824 — N/A Jan. 2014 N/A Net-lease student housing facility in Laramie, WY 15,626 1,966 18,896 — — 1,966 18,896 20,862 2,698 2007 Jan. 2014 33 yrs. Office facility in Greenville, SC 8,477 562 7,916 — 43 562 7,959 8,521 925 1972 Jan. 2014 25 yrs. Warehouse facilities in Mendota, IL; Toppenish and Yakima, WA; and Plover, WI — 1,444 21,208 — — 1,444 21,208 22,652 2,758 1996 Jan. 2014 23 yrs. Industrial facility in Allen, TX and office facility in Sunnyvale, CA 10,243 9,297 24,086 — — 9,297 24,086 33,383 2,271 1981; 1997 Jan. 2014 31 yrs. Industrial facilities in Hampton, NH 8,843 8,990 7,362 — — 8,990 7,362 16,352 708 1976 Jan. 2014 30 yrs. Industrial facilities located throughout France — 36,306 5,212 — (9,367 ) 28,115 4,036 32,151 514 Various Jan. 2014 23 yrs. Retail facility in Fairfax, VA 4,944 3,402 16,353 — — 3,402 16,353 19,755 1,810 1998 Jan. 2014 26 yrs. Retail facility in Lombard, IL 4,944 5,087 8,578 — — 5,087 8,578 13,665 950 1999 Jan. 2014 26 yrs. Warehouse facility in Plainfield, IN 19,958 1,578 29,415 — — 1,578 29,415 30,993 2,828 1997 Jan. 2014 30 yrs. Retail facility in Kennesaw, GA 3,719 2,849 6,180 — — 2,849 6,180 9,029 684 1999 Jan. 2014 26 yrs. Retail facility in Leawood, KS 8,782 1,487 13,417 — — 1,487 13,417 14,904 1,485 1997 Jan. 2014 26 yrs. Office facility in Tolland, CT 7,955 1,817 5,709 — 11 1,817 5,720 7,537 608 1968 Jan. 2014 28 yrs. Warehouse facilities in Lincolnton, NC and Mauldin, SC 9,734 1,962 9,247 — — 1,962 9,247 11,209 960 1988; 1996 Jan. 2014 28 yrs. Retail facilities located throughout Germany 257,606 81,109 153,927 — (53,029 ) 62,809 119,198 182,007 12,254 Various Jan. 2014 Various SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Southfield, MI — 1,726 4,856 89 — 1,726 4,945 6,671 462 1985 Jan. 2014 31 yrs. Office facility in The Woodlands, TX 19,882 3,204 24,997 — — 3,204 24,997 28,201 2,314 1997 Jan. 2014 32 yrs. Industrial facilities in Shah Alam, Malaysia 4,447 — 10,429 — (2,651 ) — 7,778 7,778 760 1992 Jan. 2014 30 yrs. Warehouse facilities in Lam Luk Ka and Bang Pa-in, Thailand 9,717 13,054 19,497 — (2,506 ) 12,049 17,996 30,045 1,684 2003; 2005 Jan. 2014 31 yrs. Warehouse facilities in Valdosta, GA and Johnson City, TN 8,015 1,080 14,998 — — 1,080 14,998 16,078 1,645 1978; 1998 Jan. 2014 27 yrs. Industrial facility in Amherst, NY 7,959 674 7,971 — — 674 7,971 8,645 1,037 1984 Jan. 2014 23 yrs. Industrial and warehouse facilities in Westfield, MA — 1,922 9,755 5,146 9 1,922 14,910 16,832 1,126 1954; 1997 Jan. 2014 28 yrs. Warehouse facilities in Kottka, Finland — — 8,546 — (1,928 ) — 6,618 6,618 884 1999; 2001 Jan. 2014 21 - 23 yrs. Office facility in Bloomington, MN — 2,942 7,155 — — 2,942 7,155 10,097 736 1988 Jan. 2014 28 yrs. Warehouse facility in Gorinchem, Netherlands 3,505 1,143 5,648 — (1,532 ) 885 4,374 5,259 450 1995 Jan. 2014 28 yrs. Retail facility in Cresskill, NJ — 2,366 5,482 — 19 2,366 5,501 7,867 515 1975 Jan. 2014 31 yrs. Retail facility in Livingston, NJ 5,186 2,932 2,001 — 14 2,932 2,015 4,947 216 1966 Jan. 2014 27 yrs. Retail facility in Maplewood, NJ — 845 647 — 4 845 651 1,496 70 1954 Jan. 2014 27 yrs. Retail facility in Montclair, NJ — 1,905 1,403 — 6 1,905 1,409 3,314 151 1950 Jan. 2014 27 yrs. Retail facility in Morristown, NJ — 3,258 8,352 — 26 3,258 8,378 11,636 899 1973 Jan. 2014 27 yrs. Retail facility in Summit, NJ — 1,228 1,465 — 8 1,228 1,473 2,701 158 1950 Jan. 2014 27 yrs. Industrial and office facilities in Bunde, Dransfeld, and Wolfach, Germany — 2,789 8,750 — (2,564 ) 2,160 6,815 8,975 816 1898; 1956; 1978 Jan. 2014 24 yrs. Industrial facilities in Georgetown, TX and Woodland, WA — 965 4,113 — — 965 4,113 5,078 356 1998; 2001 Jan. 2014 33 - 35 yrs. Education facilities in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX — 5,365 7,845 — 5 5,365 7,850 13,215 822 Various Jan. 2014 28 yrs. Industrial facility in Ylämylly, Finland 6,554 1,669 6,034 — (1,738 ) 1,292 4,673 5,965 400 1999 Jan. 2014 34 yrs. Industrial facility in Salisbury, NC 6,132 1,499 8,185 — — 1,499 8,185 9,684 860 2000 Jan. 2014 28 yrs. Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI 3,671 2,831 10,565 — — 2,831 10,565 13,396 1,133 1970; 1991; 1995 Jan. 2014 26 - 27 yrs. Industrial facility in Cambridge, Canada — 1,849 7,371 — (1,562 ) 1,536 6,122 7,658 571 2001 Jan. 2014 31 yrs. Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN 11,303 2,962 17,832 — — 2,962 17,832 20,794 1,664 Various Jan. 2014 31 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Ramos Arizpe, Mexico — 1,059 2,886 — — 1,059 2,886 3,945 269 2000 Jan. 2014 31 yrs. Industrial facilities in Salt Lake City, UT — 2,783 3,773 — — 2,783 3,773 6,556 352 1983; 2002 Jan. 2014 31 - 33 yrs. Net-lease student housing facility in Blairsville, PA 11,321 1,631 23,163 — — 1,631 23,163 24,794 3,052 2005 Jan. 2014 33 yrs. Industrial facility in Nashville, TN — 1,078 5,619 — — 1,078 5,619 6,697 768 1962 Jan. 2014 21 yrs. Office facility in Lafayette, LA 1,680 1,048 1,507 — — 1,048 1,507 2,555 162 1995 Jan. 2014 27 yrs. Warehouse facilities in Atlanta, Doraville, and Rockmart, GA — 6,488 77,192 — — 6,488 77,192 83,680 7,889 1959; 1962; 1991 Jan. 2014 23 - 33 yrs. Warehouse facilities in Flora, MS and Muskogee, OK 3,342 554 4,353 — — 554 4,353 4,907 388 1992; 2002 Jan. 2014 33 yrs. Industrial facility in Richmond, MO 4,511 2,211 8,505 — — 2,211 8,505 10,716 899 1996 Jan. 2014 28 yrs. Warehouse facility in Dallas, TX 5,860 468 8,042 — — 468 8,042 8,510 994 1997 Jan. 2014 24 yrs. Industrial facility in Tuusula, Finland — 6,173 10,321 — (3,721 ) 4,781 7,992 12,773 914 1975 Jan. 2014 26 yrs. Office facility in Turku, Finland 22,030 5,343 34,106 — (8,901 ) 4,137 26,411 30,548 2,767 1981 Jan. 2014 28 yrs. Industrial facility in Turku, Finland 4,046 1,105 10,243 — (2,546 ) 855 7,947 8,802 836 1981 Jan. 2014 28 yrs. Industrial facility in Baraboo, WI — 917 10,663 — — 917 10,663 11,580 2,375 1988 Jan. 2014 13 yrs. Warehouse facility in Phoenix, AZ 18,485 6,747 21,352 — — 6,747 21,352 28,099 2,243 1996 Jan. 2014 28 yrs. Land in Calgary, Canada — 3,721 — — (631 ) 3,090 — 3,090 — N/A Jan. 2014 N/A Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX 2,204 955 4,779 — — 955 4,779 5,734 449 1950; 1986; 1996 Jan. 2014 31 yrs. Industrial facility in Buffalo Grove, IL 6,771 1,492 12,233 — — 1,492 12,233 13,725 1,154 1996 Jan. 2014 31 yrs. Warehouse facility in Spanish Fork, UT 6,842 991 7,901 — — 991 7,901 8,892 705 2001 Jan. 2014 33 yrs. Industrial facilities in West Jordan, UT and Tacoma, WA; office facility in Eugene, OR; and warehouse facility in Perris, CA — 8,989 5,435 — 8 8,989 5,443 14,432 565 Various Jan. 2014 28 yrs. Office facility in Carlsbad, CA — 3,230 5,492 — — 3,230 5,492 8,722 679 1999 Jan. 2014 24 yrs. Land in Pensacola, FL — 1,746 — — — 1,746 — 1,746 — N/A Jan. 2014 N/A Movie theater in Port St. Lucie, FL — 4,654 2,576 — — 4,654 2,576 7,230 275 2000 Jan. 2014 27 yrs. Movie theater in Hickory Creek, TX — 1,693 3,342 — — 1,693 3,342 5,035 364 2000 Jan. 2014 27 yrs. Industrial facility in Nurieux-Volognat, France — 121 5,328 — (1,136 ) 93 4,220 4,313 381 2000 Jan. 2014 32 yrs. Warehouse facility in Suwanee, GA 14,981 2,330 8,406 — — 2,330 8,406 10,736 725 1995 Jan. 2014 34 yrs. Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS 7,057 1,878 8,579 — — 1,878 8,579 10,457 1,068 1954; 1975; 1984 Jan. 2014 24 yrs. SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI 8,350 1,403 11,098 — — 1,403 11,098 12,501 1,990 1996 Jan. 2014 16 yrs. Industrial facility in Mesa, AZ 4,528 2,888 4,282 — — 2,888 4,282 7,170 458 1991 Jan. 2014 27 yrs. Industrial facility in North Amityville, NY 7,446 3,486 11,413 — — 3,486 11,413 14,899 1,280 1981 Jan. 2014 26 yrs. Warehouse facilities in Greenville, SC — 567 10,217 — 15 567 10,232 10,799 1,448 1960 Jan. 2014 21 yrs. Industrial facility in Fort Collins, CO — 821 7,236 — — 821 7,236 8,057 643 1993 Jan. 2014 33 yrs. Land in Elk Grove Village, IL 1,650 4,037 — — — 4,037 — 4,037 — N/A Jan. 2014 N/A Office facility in Washington, MI — 4,085 7,496 — — 4,085 7,496 11,581 667 1990 Jan. 2014 33 yrs. Office facility in Houston, TX — 522 7,448 227 — 522 7,675 8,197 838 1999 Jan. 2014 27 yrs. Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX 6,165 4,049 13,021 — 133 4,049 13,154 17,203 2,054 Various Jan. 2014 12 - 22 yrs. Education facility in Sacramento, CA 26,898 — 13,715 — — — 13,715 13,715 1,197 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 13,568 887 1969; 1974; 1984 Jan. 2014 27 yrs. Office facility in Tinton Falls, NJ — 1,958 7,993 13 — 1,958 8,006 9,964 763 2001 Jan. 2014 31 yrs. Industrial facility in Woodland, WA — 707 1,562 — — 707 1,562 2,269 129 2009 Jan. 2014 35 yrs. Warehouse facilities in Gyál and Herceghalom, Hungary 31,993 14,601 21,915 — (8,239 ) 11,306 16,971 28,277 2,423 2002; 2004 Jan. 2014 21 yrs. Industrial facility in Windsor, CT — 453 637 3,422 — 453 4,059 4,512 56 1999 Jan. 2014 33 yrs. Industrial facility in Aurora, CO 2,743 574 3,999 — — 574 3,999 4,573 297 2012 Jan. 2014 40 yrs. Office facility in Chandler, AZ — 5,318 27,551 — — 5,318 27,551 32,869 2,203 2000 Mar. 2014 40 yrs. Warehouse facility in University Park, IL — 7,962 32,756 221 — 7,962 32,977 40,939 2,486 2008 May 2014 40 yrs. Office facility in Stavanger, Norway — 10,296 91,744 — (28,513 ) 7,490 66,037 73,527 4,037 1975 Aug. 2014 40 yrs. Office facility in Westborough, MA — 3,409 37,914 — — 3,409 37,914 41,323 2,490 1992 Aug. 2014 40 yrs. Office facility in Andover, MA — 3,980 45,120 — — 3,980 45,120 49,100 2,684 2013 Oct. 2014 40 yrs. Office facility in Newport, United Kingdom — — 22,587 — (5,293 ) — 17,294 17,294 981 2014 Oct. 2014 40 yrs. Industrial facilities located throughout Australia — 30,455 94,724 10,007 (22,044 ) 24,974 88,168 113,142 11,235 Various Oct. 2014 Various Industrial facility in Lewisburg, OH — 1,627 13,721 — — 1,627 13,721 15,348 834 2014 Nov. 2014 40 yrs. Industrial facility in Opole, Poland — 2,151 21,438 — (3,591 ) 1,824 18,174 19,998 1,094 2014 Dec. 2014 38 yrs. Office facilities located throughout Spain — 51,778 257,624 10 (42,401 ) 47,382 219,629 267,011 11,612 Various Dec. 2014 Various SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 facilities located throughout the United Kingdom — 66,319 230,113 — (55,893 ) 53,814 186,725 240,539 11,936 Various Jan. 2015 20 - 40 yrs. Warehouse facility in Rotterdam, Netherlands — — 33,935 — (2,417 ) — 31,518 31,518 1,594 2014 Feb. 2015 40 yrs. Retail facility in Bad Fischau, Austria — 2,855 18,829 — (472 ) 2,793 18,419 21,212 1,039 1998 Apr. 2015 40 yrs. Industrial facility in Oskarshamn, Sweden — 3,090 18,262 — (1,886 ) 2,817 16,649 19,466 706 2015 Jun. 2015 40 yrs. Office facility in Sunderland, United Kingdom — 2,912 30,140 — (6,940 ) 2,300 23,812 26,112 971 2007 Aug. 2015 40 yrs. Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria — 9,449 15,838 — (1,343 ) 8,947 14,997 23,944 724 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 1,760 1988; 1989; 1990 Oct. 2015 38 - 40 yrs. Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands — 5,698 38,130 79 (817 ) 5,592 37,498 43,090 1,325 Various Nov. 2015 30 - 40 yrs. Office facility in Irvine, CA — 7,626 16,137 — — 7,626 16,137 23,763 435 1977 Dec. 2015 40 yrs. Education facility in Windermere, FL — 5,090 34,721 — — 5,090 34,721 39,811 1,234 1998 Apr. 2016 38 yrs. Industrial facilities located throughout the United States — 66,845 87,575 — — 66,845 87,575 154,420 4,891 Various Apr. 2016 Various Industrial facilities in North Dumfries, Ottawa, Saint-Eustache, Uxbridge, and Whitchurch-Stouffville, Canada — 17,155 10,665 — (3,686 ) 14,292 9,842 24,134 703 Various Apr. 2016 Various Education facilities in Coconut Creek, FL and Houston, TX — 15,550 83,862 — — 15,550 83,862 99,412 1,688 1979; 1984 May 2016 37 - 40 yrs. Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN — 3,585 17,254 — — 3,585 17,254 20,839 72 1969; 1987; 2000 Nov. 2016 35 - 36 yrs. Industrial facilities in Brampton, Toronto, and Vaughan, Canada — 28,759 13,998 — — 28,759 13,998 42,757 70 Various Nov. 2016 28 - 35 yrs. Industrial facilities in Queretaro and San Juan del Rio, Mexico — 5,152 12,614 — 13 5,156 12,623 17,779 30 Various Dec. 2016 28 - 40 yrs. $ 1,586,581 $ 1,252,460 $ 4,215,721 $ 190,568 $ (476,482 ) $ 1,128,933 $ 4,053,334 $ 5,182,267 $ 472,294 SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) December 31, 2016 (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 Jacksonville and Panama City, Florida; Baton Rouge and Hammond, Louisiana; St. Peters, Missouri; and Kannapolis, Morgantown, and Shelby, North Carolina $ — $ — $ 16,416 $ — $ (13,903 ) $ 2,513 1984; 1985; 1986 Jan. 1998 Industrial facilities in Glendora, CA and Romulus, MI — 454 13,251 9 (3,907 ) 9,807 1950; 1970 Jan. 1998 Industrial facilities in Irving and Houston, TX — — 27,599 — (3,976 ) 23,623 1978 Jan. 1998 Retail facility in Freehold, NJ 7,897 — 17,067 — (146 ) 16,921 2004 Sep. 2012 Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX 3,838 2,089 14,211 — (455 ) 15,845 1969; 1996; 2000 Sep. 2012 Retail facilities in Arnstadt, Borken, Bünde, Dorsten, Duisburg, Freiberg, Gütersloh, Leimbach-Kaiserro, Monheim, Oberhausen, Osnabrück, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, and Wuppertal Germany — 28,734 145,854 — (31,861 ) 142,727 Various Sep. 2012 Warehouse facility in Brierley Hill, United Kingdom — 2,147 12,357 — (2,791 ) 11,713 1996 Sep. 2012 Industrial and warehouse facility in Mesquite, TX 6,148 2,851 15,899 — (1,468 ) 17,282 1972 Sep. 2012 Industrial facility in Rochester, MN 3,645 881 17,039 — (1,666 ) 16,254 1997 Sep. 2012 Office facility in Irvine, CA 6,287 — 17,027 — (823 ) 16,204 1981 Sep. 2012 Industrial facility in Brownwood, TX — 722 6,268 — (1 ) 6,989 1964 Sep. 2012 Office facility in Scottsdale, AZ 19,926 — 43,570 — (494 ) 43,076 1977 Jan. 2014 Retail facilities in El Paso and Fabens, TX — 4,777 17,823 — (17 ) 22,583 Various Jan. 2014 Industrial facility in Dallas, TX — 3,190 10,010 — 62 13,262 1968 Jan. 2014 Industrial facility in Eagan, MN 6,938 — 11,548 — (141 ) 11,407 1975 Jan. 2014 Industrial facilities in Albemarle and Old Fort, NC; Holmesville, OH; and Springfield, TN 8,677 6,542 20,668 — (1,360 ) 25,850 Various Jan. 2014 Movie theater in Midlothian, VA — — 16,546 — 166 16,712 2000 Jan. 2014 Industrial facilities located throughout France — — 27,270 — (5,470 ) 21,800 Various Jan. 2014 Retail facility in Gronau, Germany 5,503 281 4,401 — (1,056 ) 3,626 1989 Jan. 2014 Industrial and office facility in Marktheidenfeld, Germany — 1,629 22,396 — (6,194 ) 17,831 2002 Jan. 2014 Industrial and warehouse facility in Newbridge, United Kingdom 9,748 6,851 22,868 — (8,140 ) 21,579 1998 Jan. 2014 Education facility in Mooresville, NC 3,359 1,795 15,955 — 2 17,752 2002 Jan. 2014 Industrial facility in Mount Carmel, IL — 135 3,265 — (34 ) 3,366 1896 Jan. 2014 Retail facility in Vantaa, Finland — 5,291 15,522 — (4,695 ) 16,118 2004 Jan. 2014 Retail facility in Linköping, Sweden — 1,484 9,402 — (3,083 ) 7,803 2004 Jan. 2014 Industrial

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
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. 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 and Liabilities — We record above- and below-market lease intangible assets and liabilities 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 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 Owned Real Estate 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 third-party market research, external appraisals, 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 the 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 or direct financing 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. We also 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. 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, we will classify the net investment as held for sale and write down the net investment to its fair value if the fair value is less than the carrying 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 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 Owned Real Estate 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 Owned Real Estate 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 Owned Real Estate reporting unit. In addition, in connection with the acquisition of certain international properties, we have recorded goodwill in our Owned Real Estate reporting unit related to deferred foreign income taxes. Prior to the CPA ® :15 Merger, there was no goodwill recorded in our Owned Real Estate 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 portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. On January 1, 2016, we adopted the Financial Accounting Standards Board’s, or FASB’s, Accounting Standards Update, or ASU, 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , as described in the Recent Accounting Pronouncements section below, which amends the current consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities. When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a variable interest entity, or VIE, and, if so, whether we are 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. Limited partnerships and other similar entities that operate as a partnership will be considered a VIE unless the limited partners hold substantive kick-out rights or participation rights. 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. We performed this analysis on all of our subsidiary entities following the guidance in ASU 2015-02 to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of this change in guidance, we determined that 13 entities that were previously classified as voting interest entities should now be classified as VIEs as of January 1, 2016 and therefore included in our VIE disclosures. However, there was no change in determining whether or not we consolidate these entities as we continue not to be the primary beneficiary. We elected to retrospectively adopt ASU 2015-02, which resulted in changes to our VIE disclosures. There were no other changes to our consolidated balance sheets or results of operations for the periods presented. The liabilities of these VIEs are non-recourse to us and can only be satisfied from each VIE’s respective assets. At December 31, 2016 , we considered 32 entities VIEs, 25 of which we consolidated as we are considered the primary beneficiary. The following table presents a summary of selected financial data of the consolidated VIEs included in the consolidated balance sheets (in thousands): December 31, 2016 2015 Net investments in properties $ 786,379 $ 890,454 Net investments in direct financing leases 60,294 61,454 In-place lease and tenant relationship intangible assets, net 182,177 214,924 Above-market rent intangible assets, net 71,852 80,901 Total assets 1,150,093 1,297,276 Non-recourse debt, net $ 406,574 $ 439,285 Total liabilities 548,659 590,596 At both December 31, 2016 and 2015 , our seven unconsolidated VIEs included our interests in six unconsolidated real estate investments and one unconsolidated entity among our interests in the Managed Programs, all of which we account for under the equity method of accounting. We do not consolidate these entities because we are not the primary beneficiary and the nature of our involvement in the activities of these entities allows us to exercise significant influence on, but does not give us power over, decisions that significantly affect the economic performance of these entities. As of December 31, 2016 and 2015 , the net carrying amount of our investments in these entities was $152.9 million and $154.8 million , respectively, and our maximum exposure to loss in these entities was limited to our investments. At December 31, 2016 , 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	In connection with the CPA ® :16 Merger, we acquired 19 VIEs. In accordance with ASU 2015-02, we determined that seven of these entities, which were previously classified as voting interest entities, should now be classified as VIEs as of January 1, 2016 and therefore included in our VIE disclosures. 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, 2016 , none of our equity investments had a carrying value 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 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. For the year ended December 31, 2014, the results of operations and the related gain or loss on sale of properties held for sale as of December 31, 2013 and sold during 2014, and properties we acquired in the CPA ® :16 Merger that were held for sale and sold during 2014, were included in income from discontinued operations. 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 17 ). In the unlikely event that 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 Accounts payable, accrued expenses and other liabilities. Deferred charges are costs incurred in connection with obtaining or amending 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 payment, 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, 2016 , 2015 , and 2014 , our tenants, pursuant to their lease obligations, have made direct payment to the taxing authorities of real estate taxes of approximately $56.0 million , $57.7 million , and $59.8 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 in leases ( 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 and CESH I. We earn asset management revenue 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	Asset 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 share awards, or RSAs, restricted share 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 Additional paid-in capital in the consolidated statements 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 loss 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 loss 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 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 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 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 North America, Europe, Australia, 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. 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% 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 carryforwards 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 ( Note 16 ). 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 16 ). In addition, deferred tax assets arise from unutilized tax net operating losses, generated in prior years. 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. 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 Owned Real Estate segment. As such, our domestic 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.
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 Pronouncements In May 2014, the FASB issued 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, which constitute a majority of our revenues, but will apply to reimbursed tenant costs and revenues generated from our operating properties and our Investment Management business. We will adopt this guidance for our annual and interim periods beginning January 1, 2018 using one of two methods: retrospective restatement for each reporting period presented at the time of adoption, or retrospectively with the cumulative effect of initially applying this guidance recognized at the date of initial application. We have not decided which method of adoption we will use. We are evaluating the impact of the new standard and have not yet determined if it will have a material impact on our business or our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810). ASU 2015-02 amends the current consolidation guidance, including modification of the guidance for evaluating whether limited partnerships and similar legal entities are VIEs or voting interest entities. The guidance does not amend the existing disclosure requirements for VIEs or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model. Under the revised guidance, 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 over the managing member or substantive participating rights over the entity or VIE. Please refer to the discussion in the Basis of Consolidation section above. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) . ASU 2015-03 changes the presentation of debt issuance costs, which were previously recognized as an asset, and requires that they be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. 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, and retrospective application is required. We adopted ASU 2015-03 on January 1, 2016 and have disclosed the reclassification of our debt issuance costs in the Reclassifications section above. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 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. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; for all other entities, the final lease 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. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. The ASU is expected to impact our consolidated financial statements as we have certain operating office and land lease arrangements for which we are the lessee. We are evaluating the impact of the new standard and have not yet determined if it will have a material impact on our business or our consolidated financial statements. In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. ASU 2016-05 clarifies that a change in counterparty to a derivative contract, in and of itself, does not require the dedesignation of a hedging relationship. ASU 2016-05 is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted and entities have the option of adopting this guidance on a prospective basis to new derivative contracts or on a modified retrospective basis. We elected to early adopt ASU 2016-05 on January 1, 2016 on a prospective basis, and there was no impact on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-07, Investments – Equity Method and Joint Ventures (Topic 323). ASU 2016-07 simplifies the transition to the equity method of accounting. ASU 2016-07 eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. Instead the equity method of accounting will be applied prospectively from the date significant influence is obtained. The new standard should be applied prospectively for investments that qualify for the equity method of accounting in interim and annual periods beginning after December 15, 2016. Early adoption is permitted, and we elected to early adopt this standard as of January 1, 2016. The adoption of this standard had no impact on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 amends Accounting Standards Codification Topic 718, Compensation-Stock Based Compensation to simplify various aspects of how share-based payments are accounted for and presented in the financial statements including (i) reflecting income tax effects of share-based payments through the income statement, (ii) allowing statutory tax withholding requirements at the employees’ maximum individual tax rate without requiring awards to be classified as liabilities and (iii) permitting an entity to make an accounting policy election for the impact of forfeitures on the recognition of expense. ASU 2016-09 is effective for public business entities for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period, with early adoption permitted. We adopted ASU 2016-09 as of January 1, 2017 and elected to account for forfeitures as they occur, rather than to account for them based on an estimate of expected forfeitures. This election is to be adopted using a modified retrospective transition method, with a cumulative effect adjustment to retained earnings. The related financial statement impact of this adjustment is not expected to be material. Depending on several factors, such as the market price of our common stock, employee stock option exercise behavior, and corporate income tax rates, the excess tax benefits associated with the exercise of stock options and the vesting and delivery of RSAs, RSUs, and PSUs could generate a significant income tax benefit in a particular interim period, potentially creating volatility in Net income attributable to W. P. Carey and basic and diluted earnings per share between interim periods. We do not expect that the impact will be material to Net income attributable to W. P. Carey and basic and diluted earnings per share on an annual basis. Under the current accounting guidance, windfall tax benefits related to stock-based compensation were approximately $6.7 million and $12.5 million during the years ended December 31, 2016 and 2015, respectively, and were recognized within Additional paid-in capital in our consolidated financial statements. If ASU 2016-09 had been adopted as of January 1, 2015, these amounts would have been reflected as a reduction to Provision for income taxes in those respective periods. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses. ASU 2016-13 introduces a new model for estimating credit losses based on current expected credit losses for certain types of financial instruments, including loans receivable, held-to-maturity debt securities, and net investments in direct financing leases, amongst other financial instruments. ASU 2016-13 also modifies the impairment model for available-for-sale debt securities and expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for losses. ASU 2016-13 will be effective for public business entities in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early application of the guidance permitted. We are in the process of evaluating the impact of adopting ASU 2016-13 on our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 intends to reduce diversity in practice for certain cash flow classifications, including, but not limited to (i) debt prepayment or debt extinguishment costs, (ii) contingent consideration payments made after a business combination, (iii) proceeds from the settlement of insurance claims, and (iv) distributions received from equity method investees. ASU 2016-15 will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early application of the guidance permitted. We are in the process of evaluating the impact of adopting ASU 2016-15 on our consolidated financial statements. In October 2016, the FASB issued ASU 2016-17, Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control. ASU 2016-17 changes how a reporting entity that is a decision maker should consider indirect interests in a VIE held through an entity under common control. If a decision maker must evaluate whether it is the primary beneficiary of a VIE, it will only need to consider its proportionate indirect interest in the VIE held through a common control party. ASU 2016-17 amends ASU 2015-02, which we adopted on January 1, 2016, and which currently directs the decision maker to treat the common control party’s interest in the VIE as if the decision maker held the interest itself. ASU 2016-17 will be effective for public business entities in fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, with early adoption permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . ASU 2016-18 intends to reduce diversity in practice for the classification and presentation of changes in restricted cash on the statement of cash flows. ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. We are in the process of evaluating the impact of adopting ASU 2016-18 on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . ASU 2017-01 intends to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current implementation guidance in Topic 805, there are three elements of a business: inputs, processes, and outputs. While an integrated set of assets and activities, collectively referred to as a “set,” that is a business usually has outputs, outputs are not required to be present. ASU 2017-01 provides a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. ASU 2017-01 will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. We elected to early adopt ASU 2017-01 on January 1, 2017 on a prospective basis. While our acquisitions have historically been classified as either business combinations or asset acquisitions, certain acquisitions that were classified as business combinations by us likely would have been considered asset acquisitions under the new standard. As a result, future transaction costs are more likely to be capitalized since we expect most of our future acquisitions to be classified as asset acquisitions under this new standard. In addition, goodwill that was previously allocated to businesses that were sold or held for sale will no longer be allocated and written off upon sale if future sales were deemed to be sales of assets and not businesses. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . ASU 2017-04 removes step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. ASU 2017-04 will be effective for public business entities in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years in which a goodwill impairment test is performed, with early adoption permitted. We are in the process of evaluating the impact of adopting ASU 2017-04 on our consolidated financial statements.
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, internal-use software development, and 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, excluding reimbursable tenant costs. We have recorded net lease and internal-use software development intangibles that are being amortized over periods ranging from one year to 40 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 internal-use software development 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, foreign currency forward contracts, and foreign currency collars; 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	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, or that we acquired as held for sale in the CPA ® :16 Merger and sold during 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 Owned Real Estate segment.

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table presents a summary of selected financial data of the consolidated VIEs included in the consolidated balance sheets (in thousands): December 31, 2016 2015 Net investments in properties $ 786,379 $ 890,454 Net investments in direct financing leases 60,294 61,454 In-place lease and tenant relationship intangible assets, net 182,177 214,924 Above-market rent intangible assets, net 71,852 80,901 Total assets 1,150,093 1,297,276 Non-recourse debt, net $ 406,574 $ 439,285 Total liabilities 548,659 590,596

Merger with CPA_16 Global (Tabl

Merger with CPA:16 Global (Tables)	12 Months Ended
	Dec. 31, 2016
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 year ended December 31, 2014. 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) Year Ended December 31, 2014 Pro forma total revenues $ 931,309 Pro forma net income from continuing operations, net of tax $ 139,698 Pro forma net income attributable to noncontrolling interests (5,380 ) Pro forma net loss attributable to redeemable noncontrolling interest 142 Pro forma net income from continuing operations, net of tax attributable to W. P. Carey $ 134,460 Pro forma earnings per share: Basic $ 1.32 Diluted $ 1.31 Pro forma weighted-average shares outstanding: (a) Basic 101,296,847 Diluted 102,360,038 __________ (a) The pro forma weighted-average shares outstanding for the year ended December 31, 2014 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 w35

Agreements and Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Reimbursable costs from affiliates $ 66,433 $ 55,837 $ 130,212 Asset management revenue 61,879 49,892 37,970 Structuring revenue 47,328 92,117 71,256 Distributions of Available Cash 45,121 38,406 31,052 Dealer manager fees 8,002 4,794 23,532 Other advisory revenue 2,435 203 — Interest income on deferred acquisition fees and loans to affiliates 740 1,639 684 Deferred revenue earned — — 786 $ 231,938 $ 242,888 $ 295,492 Years Ended December 31, 2016 2015 2014 CPA ® :16 – Global $ — $ — $ 7,999 CPA ® :17 – Global 74,852 81,740 68,710 CPA ® :18 – Global 31,330 85,431 129,642 CWI 1 34,085 44,712 89,141 CWI 2 67,524 30,340 — CCIF 11,164 665 — CESH I 12,983 — — $ 231,938 $ 242,888 $ 295,492
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, 2016 2015 Short-term loans to affiliates $ 237,613 $ — Deferred acquisition fees receivable 21,967 33,386 Distribution and shareholder servicing fees 19,341 11,801 Current acquisition fees receivable 8,024 4,909 Accounts receivable 5,005 3,910 Reimbursable costs 4,427 5,579 Asset management fees receivable 2,449 2,172 Organization and offering costs 784 461 $ 299,610 $ 62,218
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% 2014 in cash; 2015 and 2016 N/A Rate is based on adjusted invested assets CPA ® :17 – Global 0.5% - 1.75% 2014 in shares of its common stock; 2015 and 2016 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% 2014, 2015, and 2016 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% 2014 in shares of its common stock; 2015 and 2016 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% 2014 N/A; 2015 and 2016 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% 2014 N/A; 2015 and 2016 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 CESH I 1.0% In cash Based on gross assets at fair value Structuring Revenue Under the terms of the advisory agreements with the Managed REITs and CESH I, we earn revenue for structuring and negotiating investments and related financing. 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 and CESH I: 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 or commitments 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 or commitments 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 or commitments made; loan refinancing transactions up to 1% of the principal amount; we are required to pay 20% and 25% to the subadvisors of CWI 1 and CWI 2, respectively; total for each CWI REIT limited to 6% of the contract prices in aggregate CESH I 2.0% In cash upon completion Based on the total aggregate cost of investments or commitments made, including the acquisition, development, construction, or re-development of the investments 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; offerings for CPA ® :18 – Global Class A shares closed in April 2015 and for CWI 1 Common Stock in December 2014 CWI 2 Class T Shares $0.19 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; this offering closed in April 2015 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 CESH I Up to 7.0% of gross offering proceeds In cash upon limited partnership unit settlement; 100% re-allowed to broker-dealers Based on the selling price of each limited partnership unit 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; offerings for CPA ® :18 – Global Class A shares closed in April 2015 and for CWI Common Stock in December 2014 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; this offering closed in April 2015 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 CESH I Up to 3.0% of gross offering proceeds Per limited partnership unit sold In cash upon limited partnership unit 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 it was reported, the net asset value per share; 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 it was reported, the net asset value per share; cease paying on the earlier of six years or when underwriting compensation from all sources equals 10% of gross offering proceeds Carey Credit Income Fund 2016 T and Carey Credit Income Fund 2018 T (two of the CCIF Feeder Funds) 0.9% Accrued daily and payable quarterly in arrears in cash; a portion may be re-allowed to selected dealers Based on the weighted-average net price of shares sold in the public offering; commences in the first quarter after the close of the public offering; cease paying on the earlier of when underwriting compensation from all sources equals 10% of gross offering proceeds or the date at which a liquidity event occurs 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 Programs and us, and are capped at 2.2% and 2.4% of each CPA ® REIT’s pro rata lease revenues for 2016 and 2015, respectively; for the legal transactions group, costs are charged according to a fee schedule CWI 1 2014 in shares of its common stock; 2015 and 2016 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 2014 N/A; 2015 and 2016 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 2014 N/A; 2015 and 2016 in cash Actual expenses incurred, excluding those related to our investment management team and senior management team CESH I 2014 and 2015 N/A; 2016 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; offering for CPA ® :18 – Global closed in April 2015 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; offering closed in December 2014 CCIF and CCIF Feeder Funds In cash; payable monthly Up to 1.5% of the gross offering proceeds; we are required to pay 50% of the organization and offering costs we receive to the subadvisor CESH I N/A In lieu of reimbursing us for organization and offering costs, CESH I will pay us limited partnership units, as described below under Other Advisory Revenue

Net Investments in Properties (

Net Investments in Properties (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Net Investments in Real Estate Properties	Below is a summary of our Operating real estate (in thousands): December 31, 2016 2015 Land $ 6,041 $ 6,578 Buildings 75,670 76,171 Less: Accumulated depreciation (12,143 ) (8,794 ) $ 69,568 $ 73,955 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, 2016 2015 Land $ 1,128,933 $ 1,160,567 Buildings 4,053,334 4,147,644 Real estate under construction 21,859 1,714 Less: Accumulated depreciation (472,294 ) (372,735 ) $ 4,731,832 $ 4,937,190
Schedule of Future Minimum Rents	Scheduled future minimum rents, exclusive of renewals, expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable operating leases at December 31, 2016 are as follows (in thousands): Years Ending December 31, Total 2017 $ 585,799 2018 575,925 2019 565,614 2020 533,916 2021 506,875 Thereafter 3,401,847 Total $ 6,169,976
Disclosure of Long Lived Assets Held-for-sale	Below is a summary of our properties held for sale (in thousands): December 31, 2016 2015 Net investments in direct financing leases $ 26,247 $ — Real estate, net — 59,046 Assets held for sale $ 26,247 $ 59,046

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Capital Leases Net Investment In Direct Financing Leases	Net investments in direct financing leases is summarized as follows (in thousands): December 31, 2016 2015 Minimum lease payments receivable $ 619,014 $ 797,736 Unguaranteed residual value 639,002 700,143 1,258,016 1,497,879 Less: unearned income (573,957 ) (741,526 ) $ 684,059 $ 756,353
Scheduled Future Minimum Rents	Scheduled future minimum rents, exclusive of renewals, expenses paid by tenants, percentage of sales rents, and future CPI-based adjustments, under non-cancelable direct financing leases at December 31, 2016 are as follows (in thousands): Years Ending December 31, Total 2017 $ 65,781 2018 65,893 2019 64,138 2020 63,438 2021 60,232 Thereafter 299,532 Total $ 619,014
Finance Receivables Credit Quality Indicators	A summary of our finance receivables by internal credit quality rating, excluding our deferred acquisition fees receivable, is as follows (dollars in thousands): Number of Tenants / Obligors at December 31, Carrying Value at December 31, Internal Credit Quality Indicator 2016 2015 2016 2015 1 - 3 27 28 $ 621,955 $ 657,034 4 5 6 70,811 110,002 5 1 — 1,644 — $ 694,410 $ 767,036

Equity Investments in the Man38

Equity Investments in the Managed Programs and Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Distributions of Available Cash ( Note 4 ) $ 45,121 $ 38,406 $ 31,052 Proportionate share of equity in earnings (losses) of equity method investments in the Managed Programs 7,698 (454 ) 2,425 Amortization of basis differences on equity method investments in the Managed Programs (1,028 ) (806 ) (810 ) Deferred revenue earned ( Note 4 ) — — 786 Other-than-temporary impairment charges on the Special Member Interest in CPA ® :16 – Global’s operating partnership — — (735 ) Total equity in earnings of equity method investments in the Managed Programs 51,791 37,146 32,718 Equity in earnings of equity method investments in real estate 16,503 17,559 14,828 Amortization of basis differences on equity method investments in real estate (3,575 ) (3,685 ) (3,430 ) Equity in earnings of equity method investments in the Managed Programs and real estate $ 64,719 $ 51,020 $ 44,116 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): Carrying Value at December 31, Lessee Co-owner Ownership Interest 2016 2015 The New York Times Company CPA ® :17 – Global 45% $ 69,668 $ 70,976 Frontier Spinning Mills, Inc. CPA ® :17 – Global 40% 24,138 24,288 Beach House JV, LLC (a) Third Party N/A 15,105 15,318 Actebis Peacock GmbH (b) CPA ® :17 – Global 30% 11,205 12,186 Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH (b) CPA ® :17 – Global 33% 8,887 9,507 C1000 Logistiek Vastgoed B.V. (b) (c) CPA ® :17 – Global 15% 8,739 9,381 Wanbishi Archives Co. Ltd. (d) CPA ® :17 – Global 3% 334 335 $ 138,076 $ 141,991 __________ (a) This investment is in the form of a preferred equity interest. (b) The carrying value of this investment is affected by fluctuations in the exchange rate of the euro. (c) This investment represents a tenancy-in-common interest, whereby the property is encumbered by the debt for which we are jointly and severally liable. The co-obligor is CPA ® :17 – Global and the amount due under the arrangement was approximately $68.4 million at December 31, 2016 . Of this amount, $10.3 million represents the amount we agreed to pay and is included within the carrying value of the investment at December 31, 2016 . (d) The carrying value of this investment is affected by fluctuations in the exchange rate of the yen. The following tables present estimated 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, 2016 2015 Real estate, net $ 460,198 $ 464,730 Other assets 56,737 64,989 Total assets 516,935 529,719 Debt (193,521 ) (201,611 ) Accounts payable, accrued expenses and other liabilities (10,354 ) (9,749 ) Total liabilities (203,875 ) (211,360 ) Stockholders’ equity $ 313,060 $ 318,359 Years Ended December 31, 2016 2015 2014 Revenues $ 56,791 $ 61,887 $ 64,294 Expenses (17,933 ) (21,124 ) (27,801 ) Income from continuing operations $ 38,858 $ 40,763 $ 36,493 Net income attributable to the jointly owned investments $ 38,858 $ 40,763 $ 36,493 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 2016 2015 2016 2015 CPA ® :17 – Global 3.456 % 3.087 % $ 99,584 $ 87,912 CPA ® :17 – Global operating partnership 0.009 % 0.009 % — — CPA ® :18 – Global 1.616 % 0.735 % 17,955 9,279 CPA ® :18 – Global operating partnership 0.034 % 0.034 % 209 209 CWI 1 1.109 % 1.131 % 11,449 12,619 CWI 1 operating partnership 0.015 % 0.015 % — — CWI 2 0.773 % 0.379 % 5,091 949 CWI 2 operating partnership 0.015 % 0.015 % 300 300 CCIF 13.322 % 47.882 % 23,528 22,214 CESH I (a) 2.431 % — % 2,701 — $ 160,817 $ 133,482 __________ (a) Investment is accounted for at fair value. 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, 2016 2015 Real estate, net $ 8,464,447 $ 7,274,549 Other assets 2,737,441 2,492,789 Total assets 11,201,888 9,767,338 Debt (5,128,640 ) (4,535,506 ) Accounts payable, accrued expenses and other liabilities (943,090 ) (652,139 ) Total liabilities (6,071,730 ) (5,187,645 ) Noncontrolling interests (263,783 ) (287,051 ) Stockholders’ equity $ 4,866,375 $ 4,292,642 Years Ended December 31, 2016 2015 2014 Revenues $ 1,465,803 $ 1,157,432 $ 825,405 Expenses (1,265,819 ) (1,129,294 ) (816,630 ) Income from continuing operations $ 199,984 $ 28,138 $ 8,775 Net income (loss) attributable to the Managed Programs (a) (b) $ 145,936 $ (15,740 ) $ (12,695 ) __________ (a) Inclusive of impairment charges recognized by the Managed Programs totaling $31.4 million , $7.2 million , and $1.3 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. These impairment charges reduced our income earned from these investments by $1.0 million , $0.1 million , and less than $0.1 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. (b) Amounts included net gains on sale of real estate recorded by the Managed Programs totaling $132.8 million , $8.9 million , and $13.3 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively. These net gains on sale of real estate increased our income earned from these investments by $4.6 million , $0.1 million , and $0.4 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2016
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 2016 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Finite-Lived Intangible Assets In-place lease (a) 21.2 $ 124,742 Above-market rent 20.0 35,576 $ 160,318 Finite-Lived Intangible Liabilities Below-market rent 20.1 $ (604 ) __________ (a) Includes intangible assets totaling $29.8 million related to a deferred tax liability that we recorded in connection with an acquisition completed in 2016. We recorded a corresponding increase to the asset value of the acquisition, since we assumed the tax basis of the acquired entities as part of the acquisition of the shares of these entities.
Schedule Of Goodwill	The following table presents a reconciliation of our goodwill (in thousands): Owned Real Estate Investment Management Total Balance at January 1, 2014 $ 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 (a) 13,585 — 13,585 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (3,762 ) — (3,762 ) Balance at December 31, 2014 628,808 63,607 692,415 Foreign currency translation adjustments (10,548 ) — (10,548 ) Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (1,762 ) — (1,762 ) Other business combinations 1,704 — 1,704 Balance at December 31, 2015 618,202 63,607 681,809 Allocation of goodwill to the cost basis of properties sold or classified as held for sale (b) (34,405 ) — (34,405 ) Impairment charges ( Note 9 ) (10,191 ) — (10,191 ) Foreign currency translation adjustments (1,293 ) — (1,293 ) Balance at December 31, 2016 $ 572,313 $ 63,607 $ 635,920 __________ (a) Primarily relates to acquisition of an investment in Norway ( Note 5 ). (b) Goodwill is allocated to the cost basis of the properties based on the relative fair value of goodwill at the time the properties are sold or classified as held for sale.
Schedule Of Intangible Assets And Goodwill	Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands): December 31, 2016 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-Lived Intangible Assets Internal-use software development costs $ 18,568 $ (5,068 ) $ 13,500 $ 18,188 $ (2,038 ) $ 16,150 Management contracts — — — 32,765 (32,765 ) — 18,568 (5,068 ) 13,500 50,953 (34,803 ) 16,150 Lease Intangibles: In-place lease and tenant relationship 1,148,232 (322,119 ) 826,113 1,205,585 (302,737 ) 902,848 Above-market rent 632,383 (210,927 ) 421,456 649,035 (173,963 ) 475,072 Below-market ground lease 23,140 (1,381 ) 21,759 25,403 (889 ) 24,514 1,803,755 (534,427 ) 1,269,328 1,880,023 (477,589 ) 1,402,434 Indefinite-Lived Goodwill and Intangible Assets Goodwill 635,920 — 635,920 681,809 — 681,809 Trade name 3,975 — 3,975 3,975 — 3,975 Below-market ground lease 866 — 866 895 — 895 640,761 — 640,761 686,679 — 686,679 Total intangible assets $ 2,463,084 $ (539,495 ) $ 1,923,589 $ 2,617,655 $ (512,392 ) $ 2,105,263 Finite-Lived Intangible Liabilities Below-market rent $ (133,137 ) $ 38,231 $ (94,906 ) $ (171,199 ) $ 44,873 $ (126,326 ) Above-market ground lease (12,948 ) 2,362 (10,586 ) (13,052 ) 1,774 (11,278 ) (146,085 ) 40,593 (105,492 ) (184,251 ) 46,647 (137,604 ) Indefinite-Lived Intangible Liabilities Below-market purchase option (16,711 ) — (16,711 ) (16,711 ) — (16,711 ) Total intangible liabilities $ (162,796 ) $ 40,593 $ (122,203 ) $ (200,962 ) $ 46,647 $ (154,315 )
Schedule Of Finite Lived Intangible Assets Future Amortization Expense	Based on the intangible assets and liabilities recorded at December 31, 2016 , 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 2017 $ 49,925 $ 98,909 $ 148,834 2018 47,663 95,452 143,115 2019 44,630 91,543 136,173 2020 36,950 83,386 120,336 2021 32,459 76,529 108,988 Thereafter 114,923 404,967 519,890 Total $ 326,550 $ 850,786 $ 1,177,336

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 December 31, 2015 Level Carrying Value Fair Value Carrying Value Fair Value Senior Unsecured Notes, net (a) (b) (c) 2 $ 1,807,200 $ 1,828,829 $ 1,476,084 $ 1,459,544 Non-recourse debt, net (a) (b) (d) 3 1,706,921 1,711,364 2,269,421 2,293,542 Note receivable (d) 3 10,351 10,046 10,689 10,610 __________ (a) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net and Senior Unsecured Notes, net as of December 31, 2015 ( Note 2 ). The carrying value of Non-recourse debt, net includes unamortized deferred financing costs of $1.3 million and $1.8 million at December 31, 2016 and 2015 , respectively. The carrying value of Senior Unsecured Notes, net includes unamortized deferred financing costs of $12.1 million and $10.5 million at December 31, 2016 and 2015 , respectively. (b) The carrying value of Non-recourse debt, net includes unamortized discount of $0.2 million at December 31, 2016 and unamortized premium of $3.8 million at December 31, 2015 . The carrying value of Senior Unsecured Notes, net includes unamortized discount of $7.8 million at both December 31, 2016 and 2015 . (c) 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. (d) We determined the estimated fair value of these financial instruments using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.
Schedule Of Fair Value Impairment Charges Using Unobservable Inputs Nonrecurring Basis	The following table presents information about assets for which we recorded an impairment charge and that were measured at fair value on a non-recurring basis (in thousands): Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Fair Value Total Impairment Impairment Charges in Continuing Operations Real estate $ 155,839 $ 52,316 $ 63,027 $ 26,597 $ 26,503 $ 21,738 Net investments in direct financing leases 23,775 6,987 65,132 3,309 39,158 1,329 Equity investments in real estate — — — — — 735 $ 59,303 $ 29,906 $ 23,802

Risk Management and Use of De41

Risk Management and Use of Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Foreign currency forward contracts Other assets, net $ 37,040 $ 38,975 $ — $ — Foreign currency collars Other assets, net 17,382 7,718 — — Interest rate swaps Other assets, net 190 — — — Interest rate cap Other assets, net 45 — — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (2,996 ) (4,762 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 3,752 3,618 — — Interest rate swaps (a) Other assets, net 9 9 — — Interest rate swaps (a) Accounts payable, accrued expenses and other liabilities — — — (2,612 ) Total derivatives $ 58,418 $ 50,320 $ (2,996 ) $ (7,374 ) __________ (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 Gain (Loss) Recognized on Derivatives in Other Comprehensive Loss (Effective Portion) (a) Years Ended December 31, Derivatives in Cash Flow Hedging Relationships 2016 2015 2014 Foreign currency collars $ 9,679 $ 7,769 $ — Foreign currency forward contracts (1,948 ) 15,949 23,167 Interest rate swaps 1,291 (284 ) (2,628 ) Interest rate caps 21 64 290 Derivatives in Net Investment Hedging Relationships (b) Foreign currency forward contracts (462 ) 5,819 2,566 Total $ 8,581 $ 29,317 $ 23,395 Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive Loss (Effective Portion) (c) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Years Ended December 31, 2016 2015 2014 Foreign currency forward contracts Other income and (expenses) $ 7,442 $ 7,272 $ (103 ) Interest rate swaps and caps Interest expense (2,106 ) (2,291 ) (2,691 ) Foreign currency collars Other income and (expenses) 1,968 357 — Total $ 7,304 $ 5,338 $ (2,794 ) __________ (a) Excludes net gains of $0.2 million , $0.6 million , and $0.3 million recognized on unconsolidated jointly owned investments for the years ended December 31, 2016 , 2015 , and 2014 , 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 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 for the year ended December 31, 2014 . There were no such gains or losses recognized for the years ended December 31, 2016 or 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, 2016 2015 2014 Interest rate swaps Other income and (expenses) $ 2,682 $ 4,164 $ 3,186 Foreign currency collars Other income and (expenses) 824 514 — Stock warrants Other income and (expenses) 134 (134 ) 134 Foreign currency forward contracts Other income and (expenses) — (296 ) — Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 657 649 761 Foreign currency forward contracts Other income and (expenses) 40 45 — Foreign currency collars Other income and (expenses) (7 ) 23 — Total $ 4,330 $ 4,965 $ 4,081 __________ (a) Relates to the ineffective portion of the hedging relationship.
Schedule of Derivative Instruments	The following table presents the foreign currency derivative contracts we had outstanding at December 31, 2016 , which were designated as cash flow hedges (currency in thousands): Number of Instruments Notional Fair Value at December 31, 2016 Foreign Currency Derivatives Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 36 98,839 EUR $ 26,540 Foreign currency collars 20 43,000 GBP 11,095 Foreign currency collars 20 80,150 EUR 6,287 Foreign currency forward contracts 12 15,256 AUD 1,602 Foreign currency forward contracts 8 4,280 GBP 1,393 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 4 79,658 AUD 7,505 $ 54,422 The interest rate swaps and caps that our consolidated subsidiaries had outstanding at December 31, 2016 are summarized as follows (currency in thousands): Number of Instruments Notional Amount Fair Value at (a) Interest Rate Derivatives Designated as Cash Flow Hedging Instruments Interest rate swaps 13 118,145 USD $ (2,474 ) Interest rate swap 1 5,900 EUR (332 ) Interest rate cap 1 30,867 EUR 45 Not Designated as Cash Flow Hedging Instruments Interest rate swap (b) 1 2,993 USD 9 $ (2,752 ) __________ (a) Fair value amounts are based on the exchange rate of the euro at December 31, 2016 , as applicable. (b) This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 (a) Principal Outstanding Balance at December 31, Senior Unsecured Credit Facility Maturity Date 2016 2015 Revolver: Revolver - borrowing in U.S. dollars (b) LIBOR + 1.10% 1/31/2018 $ 390.0 $ 92.0 Revolver - borrowing in euros (b) (c) EURIBOR + 1.10% 1/31/2018 286.7 393.0 676.7 485.0 Term Loan Facility (b) (d) LIBOR + 1.25% 1/31/2017 250.0 250.0 $ 926.7 $ 735.0 __________ (a) Interest rate at December 31, 2016 is based on our credit rating of BBB/Baa2 . (b) Our Term Loan Facility was scheduled to mature on January 31, 2017. However, on January 26, 2017, we exercised our option to extend the maturity of our Term Loan Facility by an additional year to January 31, 2018 ( Note 20 ). In addition, on February 22, 2017, we entered into our Amended Credit Facility and increased the capacity of our unsecured line of credit to $1.85 billion , and extended the maturity dates of our revolving line of credit by four years and our term loan by five years ( Note 20 ). (c) EURIBOR means Euro Interbank Offered Rate. (d) Balance excludes unamortized deferred financing costs of less than $0.1 million and $0.3 million at December 31, 2016 and 2015 , respectively ( Note 2 ).
Schedule of Debt	The following table presents a summary of our Senior Unsecured Notes (currency in millions): Principal Amount Price of Par Value Original Issue Discount Effective Interest Rate Coupon Rate Maturity Date Principal Outstanding Balance at December 31, Senior Unsecured Notes, net (a) Issue Date 2016 2015 2.0% Senior Notes 1/21/2015 € 500.0 99.220 % $ 4.6 2.107 % 2.0 % 1/20/2023 $ 527.1 $ 544.4 4.6% Senior Notes 3/14/2014 $ 500.0 99.639 % $ 1.8 4.645 % 4.6 % 4/1/2024 500.0 500.0 4.0% Senior Notes 1/26/2015 $ 450.0 99.372 % $ 2.8 4.077 % 4.0 % 2/1/2025 450.0 450.0 4.25% Senior Notes 9/12/2016 $ 350.0 99.682 % $ 1.1 4.290 % 4.3 % 10/1/2026 350.0 — $ 1,827.1 $ 1,494.4
Scheduled Debt Principal Payments	Scheduled debt principal payments during each of the next five calendar years following December 31, 2016 and thereafter through 2027 are as follows (in thousands): Years Ending December 31, Total (a) 2017 $ 768,480 2018 940,391 2019 99,566 2020 217,044 2021 156,985 Thereafter through 2027 2,279,751 Total principal payments 4,462,217 Deferred financing costs (b) (13,403 ) Unamortized discount, net (c) (8,000 ) Total $ 4,440,814 __________ (a) Certain amounts are based on the applicable foreign currency exchange rate at December 31, 2016 . (b) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ). (c) Represents the unamortized discount on the Senior Unsecured Notes totaling $7.8 million and the unamortized discount of $0.2 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, 2016
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, 2016 , 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) (dollars per share): Distributions Paid During the Years Ended December 31, 2016 2015 2014 Ordinary income $ 3.3075 $ 3.5497 $ 3.6566 Return of capital 0.5963 0.2618 0.0584 Total distributions paid $ 3.9038 $ 3.8115 $ 3.7150
Earnings Per Share Reconciliation	The following table summarizes basic and diluted earnings (in thousands, except share amounts): Years Ended December 31, 2016 2015 2014 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income (886 ) (579 ) (1,007 ) Net income – basic 266,861 171,679 238,819 Income effect of dilutive securities, net of taxes — — (77 ) Net income – diluted $ 266,861 $ 171,679 $ 238,742 Weighted-average shares outstanding – basic 106,743,012 105,675,692 98,764,164 Effect of dilutive securities 330,191 831,960 1,063,192 Weighted-average shares outstanding – diluted 107,073,203 106,507,652 99,827,356
Redeemable Noncontrolling Interest	The following table presents a reconciliation of redeemable noncontrolling interest (in thousands): Years Ended December 31, 2016 2015 2014 Beginning balance $ 14,944 $ 6,071 $ 7,436 Distributions (13,418 ) — (926 ) Redemption value adjustment (561 ) 8,873 (306 ) Net income — — (142 ) Change in other comprehensive income — — 9 Ending balance $ 965 $ 14,944 $ 6,071
Transfers to Noncontrolling Interests	The following table presents a reconciliation of the effect of transfers in noncontrolling interest (in thousands): Years Ended December 31, 2016 2015 2014 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 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 $ 267,747 $ 172,258 $ 198,452
Reclassification out of Accumulated Other Comprehensive Income	The following tables present a reconciliation of changes in Accumulated other comprehensive income (loss) 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, 2014 $ (7,488 ) $ 22,793 $ 31 $ 15,336 Other comprehensive 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 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 loss before reclassifications 29,391 (125,447 ) 15 (96,041 ) Amounts reclassified from accumulated other comprehensive 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 24,053 (125,447 ) 15 (101,379 ) Net current period other comprehensive loss attributable to noncontrolling interests — 4,647 — 4,647 Balance at December 31, 2015 37,650 (209,977 ) 36 (172,291 ) Other comprehensive loss before reclassifications 16,582 (92,434 ) (126 ) (75,978 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 2,106 — — 2,106 Other income and (expenses) (9,410 ) — — (9,410 ) Total (7,304 ) — — (7,304 ) Net current period other comprehensive loss 9,278 (92,434 ) (126 ) (83,282 ) Net current period other comprehensive loss attributable to noncontrolling interests 7 1,081 — 1,088 Balance at December 31, 2016 $ 46,935 $ (301,330 ) $ (90 ) $ (254,485 )

Stock-Based Compensation and 44

Stock-Based Compensation and Other Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted and Conditional Award Activity	Nonvested RSAs, RSUs, and PSUs at December 31, 2016 and changes during the years ended December 31, 2016 , 2015 , and 2014 were as follows: RSA and RSU Awards PSU Awards Shares Weighted-Average Grant Date Fair Value Shares Weighted-Average Nonvested at January 1, 2014 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 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 356,771 64.09 340,358 52.26 Granted (c) 277,836 58.27 200,005 73.18 Vested (a) (217,617 ) 61.32 (180,723 ) 80.21 Forfeited (60,125 ) 61.81 (51,657 ) 75.49 Adjustment (b) — — 2,035 72.22 Nonvested at December 31, 2016 (d) 356,865 $ 61.63 310,018 $ 73.80 __________ (a) The total fair value of shares vested during the years ended December 31, 2016 , 2015 , and 2014 was $27.8 million , $58.1 million , and $56.4 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, 2016 and 2015 , we had an obligation to issue 1,217,274 and 1,395,907 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 $50.2 million and $56.0 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 on a one-for-one basis. 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, 2016 , we used risk-free interest rates ranging from 0.9% - 1.1% and expected volatility rates ranging from 18.2% - 19.1% (the plan defined peer index assumes a range of 15.0% - 15.6% ) and assumed a dividend yield of zero . (d) At December 31, 2016 , total unrecognized compensation expense related to these awards was approximately $19.6 million , with an aggregate weighted-average remaining term of less than 2 years
Schedule of Share Based Compensation Stock Option Activity	Option activity and changes for all periods presented were as follows: Year Ended December 31, 2016 Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding – beginning of year 258,787 $ 31.10 Exercised (113,002 ) 28.34 Canceled / Expired (752 ) 28.42 Outstanding – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Vested and expected to vest – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Exercisable – end of year 145,033 $ 33.27 0.30 $ 3,745,163 Years Ended December 31, 2015 2014 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 475,765 $ 29.95 619,601 $ 30.30 Exercised (213,479 ) 28.57 (140,718 ) 31.41 Canceled / Expired (3,499 ) 28.71 (3,118 ) 32.99 Outstanding – end of year 258,787 $ 31.10 1.06 475,765 $ 29.95 1.75 Exercisable – end of year 236,112 $ 30.99 421,656 $ 29.75

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 2015 2014 Federal Current $ 6,412 $ 10,551 $ 19,545 Deferred (1,608 ) 1,901 (7,609 ) 4,804 12,452 11,936 State and Local Current 7,014 9,075 13,422 Deferred (2,026 ) 1,158 (4,693 ) 4,988 10,233 8,729 Foreign Current 10,727 16,656 6,869 Deferred (17,231 ) (1,720 ) (9,925 ) (6,504 ) 14,936 (3,056 ) Total Provision $ 3,288 $ 37,621 $ 17,609
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of effective income tax for the periods presented is as follows (in thousands): Years Ended December 31, 2016 2015 Pre-tax (loss) income attributable to taxable subsidiaries (a) $ (15,374 ) $ 72,343 Federal (benefit) provision at statutory tax rate (35%) $ (5,380 ) $ 25,244 Change in valuation allowance 6,477 9,074 Non-taxable income (5,399 ) (5,475 ) Non-deductible expense 3,111 6,982 State and local taxes, net of federal benefit 2,749 6,151 Rate differential 892 (10,589 ) Other 838 6,234 Total provision $ 3,288 $ 37,621 Year Ended December 31, 2014 Pre-tax income attributable to taxable subsidiaries $ 21,131 Federal provision at statutory tax rate (35%) $ 7,396 Recognition of taxable income as a result of the CPA ® :16 Merger (b) 4,833 State and local taxes, net of federal benefit 2,296 Interest 2,111 Dividend income from Managed REITs 939 Other 893 Tax provision — taxable subsidiaries 18,468 Deferred foreign tax benefit (c) (9,925 ) Current foreign taxes 6,869 Other state and local taxes 2,197 Total provision $ 17,609 __________ (a) Pre-tax loss attributable to taxable subsidiaries for 2016 was primarily driven by the impairment charges we recognized on international properties during the year ( Note 9 ). (b) 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. (c) 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, 2016 and 2015 consist of the following (in thousands): At December 31, 2016 2015 Deferred Tax Assets Unearned and deferred compensation $ 33,100 $ 35,525 Net operating loss and other tax credit carryforwards 31,381 19,553 Basis differences — foreign investments 28,324 6,975 Other 5,560 3,788 Total deferred tax assets 98,365 65,841 Valuation allowance (27,350 ) (29,746 ) Net deferred tax assets 71,015 36,095 Deferred Tax Liabilities Basis differences — foreign investments (123,269 ) (81,058 ) Basis differences — equity investees (17,282 ) (19,925 ) Deferred revenue (7,318 ) (8,654 ) Total deferred tax liabilities (147,869 ) (109,637 ) Net Deferred Tax Liability $ (76,854 ) $ (73,542 )
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, 2016 2015 Beginning balance $ 4,304 $ 2,055 Addition based on tax positions related to prior years 1,264 1,447 Addition based on tax positions related to the current year 137 1,510 Decrease due to lapse in statute of limitations (97 ) (572 ) Foreign currency translation adjustments (22 ) (136 ) Ending balance $ 5,586 $ 4,304

Property Dispositions and Dis46

Property Dispositions and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2016
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 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, 2016 2015 2014 Revenues $ 96,625 $ 107,494 $ 98,959 Expenses (44,681 ) (62,606 ) (81,260 ) Gain on sale of real estate 71,122 6,487 1,334 Impairment charges (50,769 ) (4,071 ) (22,491 ) Loss on extinguishment of debt (4,498 ) (3,156 ) (167 ) Benefit from (provision for) income taxes 12,493 (7,187 ) (3,973 ) Income from continuing operations from properties sold or classified as held for sale, net of income taxes (a) $ 80,292 $ 36,961 $ (7,598 ) __________ (a) Amounts included net (income) loss attributable to noncontrolling interests of $(1.5) million , $(2.0) million , and $0.3 million , respectively, for the years ended December 31, 2016, 2015, and 2014, respectively. 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 and sold during 2014, are reflected in the consolidated financial statements as discontinued operations, net of tax and are summarized as follows (in thousands): Years Ended December 31, 2016 2015 2014 Revenues $ — $ — $ 8,931 Expenses — — (2,039 ) Loss on extinguishment of debt — — (1,244 ) Gain on sale of real estate — — 27,670 Income from discontinued operations $ — $ — $ 33,318

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following tables present a summary of comparative results and assets for these business segments (in thousands): Owned Real Estate Years Ended December 31, 2016 2015 2014 Revenues Lease revenues $ 663,463 $ 656,956 $ 573,829 Lease termination income and other 35,696 25,145 17,767 Operating property revenues 30,767 30,515 28,925 Reimbursable tenant costs 25,438 22,832 24,862 755,364 735,448 645,383 Operating Expenses Depreciation and amortization 272,274 276,236 233,099 Impairment charges 59,303 29,906 23,067 Property expenses, excluding reimbursable tenant costs 49,431 52,199 37,725 General and administrative 34,591 47,676 38,797 Reimbursable tenant costs 25,438 22,832 24,862 Stock-based compensation expense 5,224 7,873 12,659 Restructuring and other compensation 4,413 — — Property acquisition and other expenses 2,993 (9,908 ) 34,465 453,667 426,814 404,674 Other Income and Expenses Interest expense (183,409 ) (194,326 ) (178,122 ) Equity in earnings of equity method investments in the Managed REITs and real estate 62,724 52,972 44,116 Other income and (expenses) 3,665 1,952 (14,505 ) Gain on change in control of interests — — 105,947 (117,020 ) (139,402 ) (42,564 ) Income from continuing operations before income taxes and gain on sale of real estate 184,677 169,232 198,145 Benefit from (provision for) income taxes 3,418 (17,948 ) 916 Income from continuing operations before gain on sale of real estate 188,095 151,284 199,061 Income from discontinued operations, net of tax — — 33,318 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net Income from Owned Real Estate 259,413 157,771 233,960 Net income attributable to noncontrolling interests (7,060 ) (10,961 ) (5,573 ) Net Income from Owned Real Estate Attributable to W. P. Carey $ 252,353 $ 146,810 $ 228,387 Investment Management Years Ended December 31, 2016 2015 2014 Revenues Reimbursable costs from affiliates $ 66,433 $ 55,837 $ 130,212 Asset management revenue 61,971 49,984 38,063 Structuring revenue 47,328 92,117 71,256 Dealer manager fees 8,002 4,794 23,532 Other advisory revenue 2,435 203 — 186,169 202,935 263,063 Operating Expenses Reimbursable costs from affiliates 66,433 55,837 130,212 General and administrative 47,761 55,496 52,791 Subadvisor fees 14,141 11,303 5,501 Dealer manager fees and expenses 12,808 11,403 21,760 Stock-based compensation expense 12,791 13,753 18,416 Restructuring and other compensation 7,512 — — Depreciation and amortization 4,236 4,079 4,024 Property acquisition and other expenses 2,384 2,144 — 168,066 154,015 232,704 Other Income and Expenses Other income and (expenses) 2,002 161 275 Equity in earnings (losses) of equity method investment in CCIF 1,995 (1,952 ) — 3,997 (1,791 ) 275 Income from continuing operations before income taxes 22,100 47,129 30,634 Provision for income taxes (6,706 ) (19,673 ) (18,525 ) Net Income from Investment Management 15,394 27,456 12,109 Net income attributable to noncontrolling interests — (2,008 ) (812 ) Net loss attributable to redeemable noncontrolling interest — — 142 Net Income from Investment Management Attributable to W. P. Carey $ 15,394 $ 25,448 $ 11,439 Total Company Years Ended December 31, 2016 2015 2014 Revenues $ 941,533 $ 938,383 $ 908,446 Operating expenses 621,733 580,829 637,378 Other income and (expenses) (113,023 ) (141,193 ) (42,289 ) Provision for income taxes (3,288 ) (37,621 ) (17,609 ) Income from discontinued operations, net of tax — — 33,318 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net income attributable to noncontrolling interests (7,060 ) (12,969 ) (6,385 ) Net loss attributable to redeemable noncontrolling interest — — 142 Net income attributable to W. P. Carey $ 267,747 $ 172,258 $ 239,826 The following tables present the geographic information (in thousands): Years Ended December 31, 2016 2015 2014 Domestic Revenues $ 490,134 $ 468,703 $ 426,578 Operating expenses (274,013 ) (296,265 ) (284,362 ) Interest expense (149,615 ) (153,219 ) (117,603 ) Other income and expenses, excluding interest expense 59,683 50,891 146,156 Provision for income taxes (4,808 ) (6,219 ) (3,238 ) Gain (loss) on sale of real estate, net of tax 56,492 2,941 (5,119 ) Net income attributable to noncontrolling interests (7,591 ) (5,358 ) (4,233 ) Net loss attributable to noncontrolling interests in discontinued operations — — (179 ) Income from continuing operations attributable to W. P. Carey $ 170,282 $ 61,474 $ 158,000 Germany Revenues $ 68,372 $ 65,777 $ 72,978 Operating (expenses) benefits (a) (28,473 ) 818 (40,847 ) Interest expense (15,681 ) (15,432 ) (18,880 ) Other income and expenses, excluding interest expense 649 4,175 (10,698 ) (Provision for) benefit from income taxes (4,083 ) (4,357 ) 3,163 Gain on sale of real estate, net of tax — 21 — Net income attributable to noncontrolling interests 252 (5,537 ) (1,017 ) Income from continuing operations attributable to W. P. Carey $ 21,036 $ 45,465 $ 4,699 Other International Revenues $ 196,858 $ 200,968 $ 145,827 Operating expenses (151,181 ) (131,367 ) (79,465 ) Interest expense (18,113 ) (25,675 ) (41,639 ) Other income and expenses, excluding interest expense 6,057 (142 ) 100 Benefit from (provision for) income taxes 12,309 (7,372 ) 991 Gain on sale of real estate, net of tax 14,826 3,525 6,700 Net loss (income) attributable to noncontrolling interests 279 (66 ) (323 ) Income from continuing operations attributable to W. P. Carey $ 61,035 $ 39,871 $ 32,191 Total Revenues $ 755,364 $ 735,448 $ 645,383 Operating expenses (453,667 ) (426,814 ) (404,674 ) Interest expense (183,409 ) (194,326 ) (178,122 ) Other income and expenses, excluding interest expense 66,389 54,924 135,558 Benefit from (provision for) income taxes 3,418 (17,948 ) 916 Gain on sale of real estate, net of tax 71,318 6,487 1,581 Net income attributable to noncontrolling interests (7,060 ) (10,961 ) (5,573 ) Net loss attributable to noncontrolling interests in discontinued operations — — (179 ) Income from continuing operations attributable to W. P. Carey $ 252,353 $ 146,810 $ 194,890
Reconciliation Of Assets From Segment To Consolidated	December 31, 2016 2015 Domestic Long-lived assets (b) $ 3,784,905 $ 3,794,232 Total assets (c) 5,517,050 5,435,251 Germany Long-lived assets (b) $ 545,672 $ 581,283 Total assets (c) 718,397 790,895 Other International Long-lived assets (b) $ 1,456,494 $ 1,704,288 Total assets (c) 2,006,816 2,311,398 Total Long-lived assets (b) $ 5,787,071 $ 6,079,803 Total assets (c) 8,242,263 8,537,544 __________ (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 ). (c) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ). Total Long-Lived Assets (a) at December 31, Total Assets at December 31, 2016 2015 2016 2015 (b) Owned Real Estate $ 5,787,071 $ 6,079,803 $ 8,242,263 $ 8,537,544 Investment Management 23,528 22,214 211,691 204,545 Total Company $ 5,810,599 $ 6,102,017 $ 8,453,954 $ 8,742,089 __________ (a) 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 ). (b) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net, Senior Unsecured Notes, net, and Senior Unsecured Credit Facility - Term Loan, net as of December 31, 2015 ( Note 2 ).

Selected Quarterly Financial 48

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	(dollars in thousands, except per share amounts) Three Months Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues (a) $ 270,240 $ 217,266 $ 225,247 $ 228,780 Expenses 180,000 160,697 136,472 144,564 Net income (a) (b) 60,864 53,171 112,302 48,470 Net income attributable to noncontrolling interests (3,425 ) (1,510 ) (1,359 ) (766 ) Net income attributable to W. P. Carey (a) (b) $ 57,439 $ 51,661 $ 110,943 $ 47,704 Earnings per share attributable to W. P. Carey: Basic $ 0.54 $ 0.48 $ 1.03 $ 0.44 Diluted $ 0.54 $ 0.48 $ 1.03 $ 0.44 Distributions declared per share $ 0.9742 $ 0.9800 $ 0.9850 $ 0.9900 Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues (c) $ 220,388 $ 238,079 $ 214,666 $ 265,250 Expenses (d) 140,479 130,382 159,066 150,902 Net income (c) (d) 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 W. P. Carey (c) (d) $ 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 __________ (a) Amount for the three months ended March 31, 2016 includes lease termination income of $32.2 million recognized in connection with a domestic property that was sold during the period ( Note 17 ). (b) Amount for the three months ended September 30, 2016 includes an aggregate gain on sale of real estate of $49.1 million recognized on the disposition of four properties ( Note 17 ). (c) Amount for the three months ended December 31, 2015 includes $15.0 million of termination income related to a domestic property that was classified as held for sale as of December 31, 2015. The property was subsequently sold during the first quarter of 2016 ( Note 17 ). (d) 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 ).

Business and Organization - Nar

Business and Organization - Narratives (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2016ft²propertytenant	May 31, 2016shares	May 04, 2016USD ($)	Dec. 31, 2015property
CCIF
Real Estate Properties
Common stock maximum offering value, shares | shares		102,564,103
CPA 19
Real Estate Properties
Common stock maximum offering, value | $			$ 2,000,000,000
Stock authorized for distribution under the dividend reinvestment plan, value | $			$ 500,000,000
Hotel
Additional disclosures
Number of real estate properties	2			2
Real Estate Ownership
Additional disclosures
Number of real estate properties	903
Square footage of real estate properties | ft²	87.9
Number of tenants | tenant	217
Occupancy rate	99.10%
Real Estate Ownership | Hotel
Additional disclosures
Number of real estate properties	2
Investment Management | CPA REITs
Additional disclosures
Number of real estate properties	446
Square footage of real estate properties | ft²	52
Number of tenants | tenant	216
Occupancy rate	99.80%
Investment Management | Managed Reits and CESH I
Additional disclosures
Number of real estate properties	160
Square footage of real estate properties | ft²	20

Summary of Significant Accoun50

Summary of Significant Accounting Policies - Narratives (Details)	2 Months Ended	12 Months Ended
	Aug. 30, 2016USD ($)	Dec. 31, 2016USD ($)viesegment	Dec. 31, 2015USD ($)vie	Dec. 31, 2014USD ($)	Aug. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Dec. 31, 2013USD ($)
Basis of Consolidation
Variable interest entities, count | vie		32
Variable interest entities consolidated, count | vie		25
Variable interest entities unconsolidated, count | vie		7	7
Variable interest entity, maximum exposure to loss		$ 152,900,000	$ 154,800,000
Assets		8,453,954,000	8,742,089,000
Cash and cash equivalents		155,482,000	157,227,000	$ 198,683,000			$ 117,519,000
Other assets		304,774,000	360,898,000
Effects of early adoption of accounting principle		13,403,000
Real estate tax expense		56,000,000	57,700,000	59,800,000
Foreign currency transaction (losses)		(3,700,000)	(800,000)	(400,000)
Windfall tax benefits - share incentive plan		$ 6,711,000	$ 12,522,000	$ 5,641,000
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
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
Accounts payable, accrued expenses and other liabilities
Basis of Consolidation
Prior period adjustment		$ 3,000,000
Accumulated Other Comprehensive Income (Loss)
Basis of Consolidation
Prior period adjustment		3,000,000
Income Tax Expense
Basis of Consolidation
Prior period adjustment		$ 3,000,000
Real Estate Ownership
Basis of Consolidation
Variable interest entities unconsolidated, count | vie		1	1
Managed Programs
Basis of Consolidation
Variable interest entities unconsolidated, count | vie		6	6
CESH I
Basis of Consolidation
Initial aggregate offering amount						$ 100,000,000
Proceeds from issuance of common limited partners units	$ 14,200,000
Assets					$ 30,300,000
Cash and cash equivalents					15,400,000
Other assets					$ 14,900,000
Deconsolidation gain amount		$ 1,900,000
CESH I | Maximum
Basis of Consolidation
Initial aggregate offering amount						$ 150,000,000
CPA: 16 - Global
Basis of Consolidation
Variable interest entities, count | vie		19
ASU 2015-02
Basis of Consolidation
Variable interest entities, count | vie		13
ASU 2015-02 | CPA: 16 - Global
Basis of Consolidation
Variable interest entities, count | vie			7
ASU 2015-03 | Other assets
Basis of Consolidation
Effects of early adoption of accounting principle			$ (12,600,000)
Real Estate Ownership
Basis of Consolidation
Number of reportable segments | segment		1
Assets		$ 8,242,263,000	$ 8,537,544,000

Summary of Significant Accoun51

Summary of Significant Accounting Policies - Variable Interest Entity Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Net investments in properties	$ 5,511,706	$ 5,826,544
Net investment in direct financing leases	684,059	756,353
In-place lease and tenant relationship intangible assets, net	826,113	902,848
Above-market rent intangible assets, net	421,456	475,072
Total assets	8,453,954	8,742,089
Liabilities
Non-recourse debt, net	1,706,921	2,269,421
Total liabilities	5,027,849	5,165,717
Variable Interest Entity
Assets
Net investments in properties	786,379	890,454
Net investment in direct financing leases	60,294	61,454
In-place lease and tenant relationship intangible assets, net	182,177	214,924
Above-market rent intangible assets, net	71,852	80,901
Total assets	1,150,093	1,297,276
Liabilities
Non-recourse debt, net	406,574	439,285
Total liabilities	$ 548,659	$ 590,596

Merger with CPA_16 Global - Nar

Merger with CPA:16 Global - Narratives (Details) $ / shares in Units, $ in Thousands	Jan. 31, 2014USD ($)propertyloaninvestment$ / sharesshares	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)	Jan. 31, 2014USD ($)propertyloaninvestment$ / sharesshares
Merger Disclosure
Per share closing price | $ / shares	$ 59.08									$ 59.08
Cash consideration						$ 0	$ 0	$ 1,338
Non-recourse debt						1,706,921	2,269,421
Senior Unsecured Credit Facility - Revolver						676,715	485,021
Lease revenues						663,463	656,956	573,829
Income from operations						203,489	178,740	211,170
Merger and acquisition expense						5,377	(7,764)	34,465
Goodwill						635,920	681,809	692,415	$ 350,208
Gain on change in control of interests						$ 0	$ 0	105,947
Purchase on remaining interest								280,936
Additional Paid-in Capital
Merger Disclosure
Purchase on remaining interest								41,374
Hotel
Merger Disclosure
Number of real estate properties | property						2	2
Assets held-for-sale
Merger Disclosure
Number of real estate properties | property							2
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
Goodwill	$ 346,642									346,642
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
Equity method investment, ownership percentage	100.00%									100.00%
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 | Additional Paid-in Capital
Merger Disclosure
Purchase on remaining interest		$ 42,000
CPA: 16 - Global | Previously Reported
Merger Disclosure
Fair value equity interest in jointly-owned investments with equity investment prior to merger	347,200
CPA: 16 - Global | Measurement period adjustment
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
CPA: 16 - Global | Assets held-for-sale | Discontinued Operations
Merger Disclosure
Number of real estate properties | property	10							10		10
CPA: 16 - Global | Assets held-for-sale | Discontinued Operations | Jointly Owned Investments
Merger Disclosure
Number of real estate properties | property	5									5
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 | Hotel
Merger Disclosure
Number of real estate properties | property	2									2
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	$ 291,200									$ 291,200
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

Merger with CPA_16 Global - Pro

Merger with CPA:16 Global - Pro Forma Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 31, 2014	Dec. 31, 2014
Pro Forma Financial Information
Pro forma total revenue		$ 931,309
Pro forma net income from continuing operations, net of tax		139,698
Pro forma net income attributable to noncontrolling interests		(5,380)
Pro forma net loss attributable to redeemable noncontrolling interest		142
Pro forma net income from continuing operations, net of tax attributable to W. P. Carey		$ 134,460
Pro forma earnings per share
Basic (in dollar per share)		$ 1.32
Diluted (in dollar per share)		$ 1.31
Pro forma weighted average shares
Basic (in shares)		101,296,847
Diluted (in shares)		102,360,038
CPA: 16 - Global
Pro forma weighted average shares
Shares issued as compensation, shares	30,729,878

Agreements and Transactions w54

Agreements and Transactions with Related Parties - Narratives (Details) - USD ($)

Dec. 29, 2016

Feb. 02, 2016

Feb. 28, 2014

Feb. 24, 2017

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Feb. 22, 2017

Oct. 31, 2016

Jul. 31, 2016

May 31, 2016

Apr. 30, 2016

Jan. 20, 2016

Distributions Of Available Cash and Deferred Revenue Earned

Revenue from the managed programs

$ 186,169,000

$ 202,935,000

$ 263,063,000

Percentage of available cash distribution to advisor

10.00%

Other Transactions with Affiliates

Loans to affiliates

$ 257,500,000

185,447,000

11,000,000

Proceeds from repayment of short-term loans to affiliates

37,053,000

185,447,000

11,000,000

Share Purchase Agreement

Stock repurchased during period, shares

11,037

Repurchase of common stock

$ 700,000

0

0

679,000

Proceeds from sales of real estate

$ 542,422,000

35,557,000

285,742,000

Subsequent Event

Other Transactions with Affiliates

Line of credit, maximum borrowing amount

$ 1,850,000,000

Self-storage

Share Purchase Agreement

Ownership interest in joint ventures

38.30%

Self-storage | Third Party

Share Purchase Agreement

Ownership interest in joint ventures

61.20%

Maximum

Share Purchase Agreement

Ownership interest in joint ventures

90.00%

Minimum

Share Purchase Agreement

Ownership interest in joint ventures

3.00%

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

CCIF | Average adjusted capital | Maximum

Distributions Of Available Cash and Deferred Revenue Earned

Incentive fees

2.344%

CCIF | Average adjusted capital | Minimum

Distributions Of Available Cash and Deferred Revenue Earned

Incentive fees

1.875%

CCIF | Net investment income | Minimum

Distributions Of Available Cash and Deferred Revenue Earned

Incentive fees

20.00%

CCIF | Capital gain | Minimum

Distributions Of Available Cash and Deferred Revenue Earned

Incentive fees

20.00%

CCIF | Front-end fees

Distributions Of Available Cash and Deferred Revenue Earned

Maximum personnel and overhead reimbursement, percentage

18.00%

CCIF | Gross proceeds

Distributions Of Available Cash and Deferred Revenue Earned

Maximum personnel and overhead reimbursement, percentage

82.00%

CCIF | Average net asset

Distributions Of Available Cash and Deferred Revenue Earned

Reimbursement percentage

1.75%

CESH I

Distributions Of Available Cash and Deferred Revenue Earned

Revenue from the managed programs

$ 2,400,000

Other Transactions with Affiliates

Line of credit, maximum borrowing amount

$ 35,000,000

Loans receivable from related party

$ 17,100,000

CESH I | Gross proceeds

Distributions Of Available Cash and Deferred Revenue Earned

Advisory fee percentage

2.50%

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

$ 50,000,000

Loans receivable from related party

$ 27,500,000

CWI

Other Transactions with Affiliates

Line of credit, maximum borrowing amount

110,000,000

Interest rate on loan

1.10%

CWI 2

Other Transactions with Affiliates

Line of credit, maximum borrowing amount

$ 250,000,000

110,000,000

110,000,000

Loans receivable from related party

$ 210,000,000

$ 20,000,000

Accrued interest

$ 100,000

CWI 2 | Subsequent Event

Other Transactions with Affiliates

Proceeds from repayment of short-term loans to affiliates

$ 210,000,000

CWI 2 | LIBOR

Other Transactions with Affiliates

Interest rate on loan

1.10%

Managed Programs

Other Transactions with Affiliates

Loans to affiliates

$ 185,400,000

$ 11,000,000

Managed Programs | LIBOR

Other Transactions with Affiliates

Interest rate on loan

1.10%

Employee | Self-storage

Share Purchase Agreement

Ownership interest in joint ventures

0.50%

Proceeds from sales of real estate

$ 100,000

Agreements and Transactions w55

Agreements and Transactions with Related Parties - Related Party Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue from related parties:
Reimbursable costs from affiliates	$ 66,433	$ 55,837	$ 130,212
Asset management revenue	61,879	49,892	37,970
Structuring revenue	47,328	92,117	71,256
Distributions of Available Cash	45,121	38,406	31,052
Dealer manager fees	8,002	4,794	23,532
Other advisory revenue	2,435	203	0
Interest income on deferred acquisition fees and loans to affiliates	740	1,639	684
Deferred revenue earned	0	0	786
Total deferred revenue earned	$ 231,938	$ 242,888	$ 295,492

Agreements and Transactions w56

Agreements and Transactions with Related Parties - Related Party Income, by Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction
Revenue from related parties	$ 231,938	$ 242,888	$ 295,492
CPA: 16 - Global
Related Party Transaction
Revenue from related parties	0	0	7,999
CPA: 17 - Global
Related Party Transaction
Revenue from related parties	74,852	81,740	68,710
CPA:18 - Global
Related Party Transaction
Revenue from related parties	31,330	85,431	129,642
CWI
Related Party Transaction
Revenue from related parties	34,085	44,712	89,141
CWI 2
Related Party Transaction
Revenue from related parties	67,524	30,340	0
CCIF
Related Party Transaction
Revenue from related parties	11,164	665	0
CESH I
Related Party Transaction
Revenue from related parties	$ 12,983	$ 0	$ 0

Agreements and Transactions w57

Agreements and Transactions with Related Parties - Due from Affiliates (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Due from affiliates
Short-term loans to affiliates	$ 237,613	$ 0
Deferred acquisition fees receivable	21,967	33,386
Distribution and shareholder servicing fees	19,341	11,801
Current acquisition fees receivable	8,024	4,909
Accounts receivable	5,005	3,910
Reimbursable costs	4,427	5,579
Asset management fees receivable	2,449	2,172
Organization and offering costs	784	461
Due from affiliates	$ 299,610	$ 62,218

Agreements and Transactions w58

Agreements and Transactions with Related Parties - Asset Management and Structuring Revenue (Details)	12 Months Ended
	Dec. 31, 2016
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%
Average invested assets | CPA: 16 - Global
Revenue from related parties
Percentage of asset management fees earned	0.50%
Contract sales price of investment | CWI
Structuring revenue
Percentage of structuring fees earned	2.50%
Contract sales price of investment | CESH I
Structuring revenue
Percentage of structuring fees earned	2.00%
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%
Gross asset fair value | CESH I
Revenue from related parties
Percentage of asset management fees earned	1.00%
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 w59

Agreements and Transactions with Related Parties - Selling Commissions, Dealer Manager Fees and Shareholder Servicing Fees (Details)	Dec. 31, 2016$ / 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
Reimbursed costs from affiliates and wholesaling revenue
Underwriting compensation limit, percentage	10.00%
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%
Class T | Carey Credit Income Fund 2016
Reimbursed costs from affiliates and wholesaling revenue
Shareholder servicing, percentage	0.90%
Class T | Carey Credit Income Fund 2018
Reimbursed costs from affiliates and wholesaling revenue
Shareholder servicing, percentage	0.90%
Gross proceeds | CESH I | Maximum
Reimbursed costs from affiliates and wholesaling revenue
Selling commission per share sold, percentage	7.00%
Dealer manager fee per share fee, percentage	3.00%

Agreements and Transactions w60

Agreements and Transactions with Related Parties - Personnel, Overhead Costs, Organization and Offering (Details)	12 Months Ended
	Dec. 31, 2016	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	2.20%	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%
Required distribution of organization and offering cost received by subadvisor	50.00%

Net Investments in Properties -

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

Dec. 09, 2016USD ($)

Oct. 20, 2016USD ($)

Oct. 04, 2016USD ($)

Apr. 14, 2016USD ($)property

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 ($)

Dec. 01, 2016USD ($)property

Sep. 30, 2015USD ($)

Dec. 09, 2016USD ($)

May 31, 2016USD ($)property

Dec. 31, 2016USD ($)propertytenant

Dec. 31, 2015USD ($)property

Dec. 31, 2014USD ($)property

Jan. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Dec. 04, 2013USD ($)

Investments in real estate

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

$ 92,434

$ 125,447

$ 117,938

Depreciation

142,700

137,300

113,000

Goodwill

635,920

681,809

692,415

$ 350,208

Net investment in direct financing leases

684,059

756,353

Net investment in properties

4,801,400

5,011,145

Funds capitalized for construction in progress

$ 58,700

Construction projects in progress | property

3

Accrued noncash investing activities

$ 2,100

Unfunded commitment

135,200

12,200

Assets placed into service

$ 53,200

Investment in real estate under construction

56,557

28,040

20,647

Assets held for sale

26,247

$ 59,046

Asset held for sale, deferred tax liabilities

$ 2,500

Discontinued Operations, Disposed of by Sale

Investments in real estate

Number of net lease properties sold | property

28

Discontinued Operations, Held-for-sale

Investments in real estate

Number of real estate properties | property

2

Asset under Construction

Investments in real estate

Reclassification of properties owned

$ (2,200)

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

Assets held for sale

$ 133,415

Property in Doraville, Georgia

Investments in real estate

Construction and development costs

13,800

Assets placed into service

24,700

Mönchengladbach, Germany

Investments in real estate

BTS commitment

$ 65,000

Real estate

Investments in real estate

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

89,800

Investment purchase price

$ 1,900

$ 530,300

$ 116,000

536,700

Number of properties reclassified | property

31

Land acquired

$ 140,200

8,600

83,900

Buildings acquired

259,800

68,100

366,600

Acquisition costs, capitalized

4,000

3,900

17,800

Intangible assets acquired

130,300

39,400

82,900

Net investment in direct financing leases

$ 3,300

Net investment in properties

4,731,832

4,937,190

Reclassification of properties owned

$ (9,700)

Number of purchase options exercised | tenant

2

Other real estate, period increase (decrease)

$ (411,200)

Purchase option exercise price, value

21,600

Assets held for sale, not part of disposal group

16,300

Real estate | Private Campus in Various Locations

Investments in real estate

Investment purchase price

$ 167,700

Number of real estate properties | property

3

Commitment for capital expenditure

$ 128,100

Funds capitalized for construction in progress

$ 16,900

Real estate | Manufacturing Facility

Investments in real estate

Investment purchase price

$ 218,200

Real estate | Manufacturing Facility | Domestic

Investments in real estate

Number of real estate properties | property

43

Real estate | Manufacturing Facility | Canada

Investments in real estate

Number of real estate properties | property

6

Real estate | Manufacturing facility in San Antonio, Texas

Investments in real estate

Investment purchase price

$ 3,800

Real estate | Land in McCalla, Alabama

Investments in real estate

Investment purchase price

$ 1,100

Commitment for capital expenditure

$ 21,500

Real estate | Manufacturing facilities in various locations in Canada, Mexico, and the United States Member

Investments in real estate

Investment purchase price

$ 140,700

Deferred tax liability

$ 29,400

Real estate | Manufacturing facilities in various locations in Canada, Mexico, and the United States Member | Canada

Investments in real estate

Number of real estate properties | property

13

Real estate | Land in Rio Rancho, New Mexico

Investments in real estate

Investment purchase price

$ 800

Maximum tenant reimbursement cost

$ 700

$ 700

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

Business combination

Investments in real estate

Investment purchase price

561,600

366,900

Land acquired

89,500

33,100

Buildings acquired

382,600

278,100

Intangible assets acquired

89,500

55,700

Acquisition costs, expensed

$ 11,100

3,300

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

Hotel

Investments in real estate

Number of real estate properties | property

2

2

Self-storage

Investments in real estate

Number of real estate properties | property

1

Operating real estate

Investments in real estate

Depreciation

$ 4,200

$ 4,200

3,800

Net investment in properties

69,568

$ 73,955

Other real estate, period increase (decrease)

(2,300)

Tenant improvements

2,200

Assets held-for-sale

Investments in real estate

Number of real estate properties | property

2

Net investments in direct financing leases

Investments in real estate

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

$ 18,300

Number of properties reclassified | property

31

Reclassification of properties owned

$ 9,700

$ 13,700

Assets held for sale

$ 26,247

$ 0

GBP

Investments in real estate

(Decrease) increase in exchange rate

(17.00%)

Foreign currency exchange rate

1.2312

1.4833

Euro

Investments in real estate

(Decrease) increase in exchange rate

(3.20%)

Foreign currency exchange rate

1.0541

1.0887

Net Investments in Properties62

Net Investments in Properties - Property Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Investment Property At Cost
Less: Accumulated depreciation	$ (484,437)	$ (381,529)
Net investments in properties	4,801,400	5,011,145
Real estate
Real Estate Investment Property At Cost
Land	1,128,933	1,160,567
Buildings	4,053,334	4,147,644
Real estate under construction	21,859	1,714
Less: Accumulated depreciation	(472,294)	(372,735)
Net investments in properties	4,731,832	4,937,190
Operating real estate
Real Estate Investment Property At Cost
Land	6,041	6,578
Buildings	75,670	76,171
Less: Accumulated depreciation	(12,143)	(8,794)
Net investments in properties	$ 69,568	$ 73,955

Net Investments in Properties63

Net Investments in Properties - Scheduled Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2016USD ($)
Scheduled Future Minimum Rents
2,017	$ 585,799
2,018	575,925
2,019	565,614
2,020	533,916
2,021	506,875
Thereafter	3,401,847
Total	$ 6,169,976

Net investments in Properties64

Net investments in Properties - Summary of Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Long Lived Assets Held-for-sale
Assets held for sale	$ 26,247	$ 59,046
Net investments in direct financing leases
Long Lived Assets Held-for-sale
Assets held for sale	26,247	0
Real Estate
Long Lived Assets Held-for-sale
Assets held for sale	$ 0	$ 59,046

Finance Receivables - Narrative

Finance Receivables - Narratives (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2015USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Jan. 31, 2014USD ($)lease
Finance Receivables
Interest income from direct financing lease		$ 71,200	$ 74,400	$ 78,800
Increase in value of balance sheet item due to foreign currency translation		(92,434)	(125,447)	(117,938)
Financing receivable reclassified to held for sale		26,200
Net investment in direct financing leases		684,059	756,353
Notes receivable, net		10,400	10,700
Proceeds from repayments of note receivable		$ 409	10,441	1,915
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.
Allowance for doubtful accounts receivable		$ 13,300	8,700
Allowance for credit losses		$ 7,100	8,700
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 2016.
B Note
Finance Receivables
Notes receivable, net				10,000
Proceeds from repayments of note receivable	$ 10,000
Real estate
Finance Receivables
Increase in value of balance sheet item due to foreign currency translation		$ (89,800)
Number of properties reclassified | property		31
Reclassification of properties owned		$ (9,700)
Net investment in direct financing leases				$ 3,300
CPA: 16 - Global
Finance Receivables
Number of DFL acquired from Merger | lease					98
Net investment in direct financing leases					$ 538,225
CPA: 16 - Global | Real estate
Finance Receivables
Number of real estate properties | property				225
Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		52,300
Continuing Operations | Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		59,303	29,906	$ 23,802
Continuing Operations | Net investments in direct financing lease | Fair Value, Measurements, Nonrecurring | Level 3
Finance Receivables
Impairment charges on properties		$ 6,987	$ 3,309	$ 1,329
Number of real estate properties | property		1	5	8
Net investments in direct financing leases
Finance Receivables
Increase in value of balance sheet item due to foreign currency translation		$ (18,300)
Number of properties reclassified | property		31
Reclassification of properties owned		$ 9,700		$ 13,700
Impairment charges on properties		$ 7,000

Finance Receivables - Net Inves

Finance Receivables - Net Investments in Direct Financing Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Net Investments in Direct Financing Leases
Minimum lease payments receivable	$ 619,014	$ 797,736
Unguaranteed residual value	639,002	700,143
Gross minimum lease payments receivable	1,258,016	1,497,879
Less: unearned income	(573,957)	(741,526)
Net investments in direct financing leases	$ 684,059	$ 756,353

Finance Receivables - Scheduled

Finance Receivables - Scheduled Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2016USD ($)
Schedule Future Minimum Rents
2,017	$ 65,781
2,018	65,893
2,019	64,138
2,020	63,438
2,021	60,232
Thereafter	299,532
Total	$ 619,014

Finance Receivables - Internal

Finance Receivables - Internal Credit Quality Rating (Details) $ in Thousands	Dec. 31, 2016USD ($)tenant	Dec. 31, 2015USD ($)tenant
Credit Quality Of Finance Receivables
Net investments in direct financing leases	$ 694,410	$ 767,036
Internally Assigned Grade1 thru 3
Credit Quality Of Finance Receivables
Number of tenants | tenant	27	28
Net investments in direct financing leases	$ 621,955	$ 657,034
Internally Assigned Grade 4
Credit Quality Of Finance Receivables
Number of tenants | tenant	5	6
Net investments in direct financing leases	$ 70,811	$ 110,002
Internally Assigned Grade 5
Credit Quality Of Finance Receivables
Number of tenants | tenant	1	0
Net investments in direct financing leases	$ 1,644	$ 0

Equity Investments in the Man69

Equity Investments in the Managed Programs and Real Estate - Narratives (Details)	Mar. 27, 2015USD ($)	Oct. 31, 2013USD ($)	Nov. 30, 2010	Dec. 31, 2015USD ($)$ / shares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Sep. 30, 2014$ / shares	May 30, 2014USD ($)$ / sharesshares	Jan. 31, 2014shares	Dec. 31, 2007property
Investments in REITs
Distributions of earnings from equity investments							$ 64,650,000	$ 51,435,000	$ 42,809,000
Common stock, per share value (usd per share) | $ / shares				$ 0.001			$ 0.001	$ 0.001			$ 0.001
Payments to acquire equity method investments							$ 147,000	$ 16,229,000	25,468,000
Percentage of available cash distribution to advisor							10.00%
Other-than-temporary impairment charges							$ 59,303,000	29,906,000	23,067,000
Equity in earnings (loss) of equity method investments in the Managed Programs and real estate							64,719,000	51,020,000	44,116,000
Gain or loss on sale of investment properties							71,318,000	6,487,000	29,250,000
Other Transactions
Real estate tax expense, adjustment							(56,000,000)	(57,700,000)	(59,800,000)
Payment of mortgage loan							161,104,000	90,328,000	205,024,000
Germany | Adjustments
Other Transactions
Real estate tax expense, adjustment				$ 25,000,000
CPA: 16 - Global
Investments in REITs
Common stock acquired, shares | shares													38,229,294
Hellweg 2
Investments in REITs
Equity in earnings (loss) of equity method investments in the Managed Programs and real estate		$ 8,400,000
Hellweg 2 | CPA: 16 - Global | Germany | Adjustments
Other Transactions
Real estate tax expense, adjustment							17,100,000
Hellweg 2 | CPA:15 | Germany | Adjustments
Other Transactions
Real estate tax expense, adjustment										$ 7,900,000
Hellweg 2 | Propco
Investments in REITs
Equity method investment, ownership percentage		5.00%												75.00%
Other Transactions
Number of real estate properties | property														37
Real estate tax expense, adjustment		$ (22,100,000)
Real Estate Investments
Investments in REITs
Distributions of earnings from equity investments							16,100,000	13,300,000	12,500,000
Aggregate unamortized basis difference on equity investments				$ 6,700,000			$ 6,700,000	6,700,000
CPA: 17 - Global
Investments in REITs
Asset management fees receivable, shares | shares							109,825
Distributions of earnings from equity investments							$ 7,300,000	$ 5,900,000	4,600,000
Equity method investment, ownership percentage				3.087%			3.456%	3.087%
CPA: 17 - Global | Real Estate Investments | C1000 Logestiek Vastgoed B.V.
Investments in REITs
Equity method investment, ownership percentage							15.00%
Mortgage debt tenants in common							$ 68,400,000
Pro rata share mortgage debt on tenancy in common							$ 10,300,000
CPA: 17 - Global | Real Estate Investments | Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH
Investments in REITs
Equity method investment, ownership percentage							33.00%
Equity in earnings (loss) of equity method investments in the Managed Programs and real estate						$ 2,100,000
Other Transactions
Contributions to equity method investments					$ 4,700,000
Payment of mortgage loan					$ 14,300,000
CPA:17 - Global operating partnership
Investments in REITs
Distributions of earnings from equity investments							$ 24,800,000	$ 24,700,000	20,400,000
Equity method investment, ownership percentage				0.009%			0.009%	0.009%
CPA:18 - Global
Investments in REITs
Distributions of earnings from equity investments							$ 900,000	$ 200,000	100,000
Equity method investment, ownership percentage				0.735%			1.616%	0.735%
CPA:18 - Global | Class A
Investments in REITs
Asset management fees receivable, shares | shares							109,639
CPA:18 - Global operating partnership
Investments in REITs
Distributions of earnings from equity investments							$ 7,600,000	$ 6,300,000	1,800,000
Equity method investment, ownership percentage				0.034%			0.034%	0.034%
CWI
Investments in REITs
Distributions of earnings from equity investments							$ 900,000	$ 800,000	300,000
Equity method investment, ownership percentage				1.131%			1.109%	1.131%
CWI operating partnership
Investments in REITs
Distributions of earnings from equity investments							$ 9,400,000	$ 7,100,000	4,100,000
Equity method investment, ownership percentage				0.015%			0.015%	0.015%
CWI 2
Investments in REITs
Distributions of earnings from equity investments							$ 100,000
Common stock acquired, shares | shares												22,222
Common stock, per share value (usd per share) | $ / shares												$ 0.001
Common stock acquired, value												$ 200,000
Equity method investment, ownership percentage				0.379%			0.773%	0.379%
CWI 2 | Class A
Investments in REITs
Asset management fees receivable, shares | shares							46,439
CWI 2 operating partnership
Investments in REITs
Distributions of earnings from equity investments							$ 3,300,000	$ 300,000
Equity method investment, ownership percentage	0.015%			0.015%			0.015%	0.015%
Payments to acquire equity method investments	$ 300,000
Percentage of available cash distribution to advisor	10.00%
CCIF
Investments in REITs
Distributions of earnings from equity investments							$ 700,000	$ 800,000
Equity method investment, ownership percentage				47.882%			13.322%	47.882%
CESH I
Investments in REITs
Distributions of earnings from equity investments							$ 0
Equity method investment, ownership percentage				0.00%			2.431%	0.00%
CESH I | Gross proceeds
Investments in REITs
Advisory fee percentage							2.50%
Managed Programs
Investments in REITs
Aggregate unamortized basis difference on equity investments				$ 27,400,000			$ 31,700,000	$ 27,400,000
Other-than-temporary impairment charges							31,400,000	7,200,000	1,300,000
Gain or loss on sale of investment properties							132,800,000	8,900,000	13,300,000
Managed Programs | Impairment
Investments in REITs
Equity in earnings (loss) of equity method investments in the Managed Programs and real estate							(1,000,000)	(100,000)	(100,000)
Managed Programs | Gain On Sale Of Real Estate
Investments in REITs
Equity in earnings (loss) of equity method investments in the Managed Programs and real estate							$ 4,600,000	$ 100,000	$ 400,000
CPA:14 | Hellweg 2
Investments in REITs
Equity method investment, ownership percentage														33.00%
CPA:15 | Hellweg 2
Investments in REITs
Equity method investment, ownership percentage														40.00%
CPA: 16 - Global | Hellweg 2
Investments in REITs
Equity method investment, ownership percentage														27.00%
CPA 14, 15, and 16 | Hellweg 2
Investments in REITs
Equity method investment, ownership percentage			95.00%											25.00%
Other Transactions
Increase in ownership interest in equity method investment			70.00%

Equity Investments in the Man70

Equity Investments in the Managed Programs and Real Estate - Summary of Earnings from Equity Method Investments in the Managed Programs and Real Estate (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments
Distributions of Available Cash (Note 4)	$ 64,719	$ 51,020	$ 44,116
Income from equity method investments	64,719	51,020	44,116
Managed Programs
Schedule Of Equity Method Investments
Distributions of Available Cash (Note 4)	45,121	38,406	31,052
Income from equity method investments	7,698	(454)	2,425
Amortization of basis differences on equity method investments in the Managed Programs	(1,028)	(806)	(810)
Deferred revenue earned (Note 4)	0	0	786
Other-than-temporary impairment charges on the Special Member Interest in CPA®:16 – Global’s operating partnership	0	0	(735)
Total equity in earnings of equity method investments in the Managed Programs	51,791	37,146	32,718
Jointly Owned Investments
Schedule Of Equity Method Investments
Income from equity method investments	16,503	17,559	14,828
Amortization of basis differences on equity method investments in the Managed Programs	$ (3,575)	$ (3,685)	$ (3,430)

Equity Investments in the Man71

Equity Investments in the Managed Programs and Real Estate - Summary of Investments in Managed Programs (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Mar. 27, 2015
Investments in Programs
Equity investments in real estate	$ 298,893	$ 275,473
CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	3.456%	3.087%
Equity investments in real estate	$ 99,584	$ 87,912
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	1.616%	0.735%
Equity investments in real estate	$ 17,955	$ 9,279
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	1.109%	1.131%
Equity investments in real estate	$ 11,449	$ 12,619
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	0.773%	0.379%
Equity investments in real estate	$ 5,091	$ 949
CWI 2 operating partnership
Investments in Programs
Equity method investment, ownership percentage	0.015%	0.015%	0.015%
Equity investments in real estate	$ 300	$ 300
CCIF
Investments in Programs
Equity method investment, ownership percentage	13.322%	47.882%
Equity investments in real estate	$ 23,528	$ 22,214
CESH I
Investments in Programs
Equity method investment, ownership percentage	2.431%	0.00%
Equity investments in real estate	$ 2,701	$ 0
Managed Programs
Investments in Programs
Equity investments in real estate	$ 160,817	$ 133,482

Equity Investments in the Man72

Equity Investments in the Managed Programs and Real Estate - Summarized Balance Sheet for Equity Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Combined Equity Investments
Equity Method Investment Summarized Financial Information
Real estate, net	$ 460,198	$ 464,730
Other assets	56,737	64,989
Total assets	516,935	529,719
Debt	(193,521)	(201,611)
Accounts payable, accrued expenses and other liabilities	(10,354)	(9,749)
Total liabilities	(203,875)	(211,360)
Stockholders’ equity	313,060	318,359
Managed Programs
Equity Method Investment Summarized Financial Information
Real estate, net	8,464,447	7,274,549
Other assets	2,737,441	2,492,789
Total assets	11,201,888	9,767,338
Debt	(5,128,640)	(4,535,506)
Accounts payable, accrued expenses and other liabilities	(943,090)	(652,139)
Total liabilities	(6,071,730)	(5,187,645)
Noncontrolling interests	(263,783)	(287,051)
Stockholders’ equity	$ 4,866,375	$ 4,292,642

Equity Investments in the Man73

Equity Investments in the Managed Programs and Real Estate - Summarized Income Statement for Equity Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Combined Equity Investments
Equity Method Investment Summarized Financial Information Income Statement
Revenues	$ 56,791	$ 61,887	$ 64,294
Expenses	(17,933)	(21,124)	(27,801)
Income from continuing operations	38,858	40,763	36,493
Net income (loss) attributable to equity investments	38,858	40,763	36,493
Managed Programs
Equity Method Investment Summarized Financial Information Income Statement
Revenues	1,465,803	1,157,432	825,405
Expenses	(1,265,819)	(1,129,294)	(816,630)
Income from continuing operations	199,984	28,138	8,775
Net income (loss) attributable to equity investments	$ 145,936	$ (15,740)	$ (12,695)

Equity Investments in the Man74

Equity Investments in the Managed Programs and Real Estate - Equity Method Investments Excluding the Managed Programs (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investments in Programs
Equity investments in real estate	$ 298,893	$ 275,473
CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	3.456%	3.087%
Equity investments in real estate	$ 99,584	$ 87,912
Real Estate Investments
Investments in Programs
Equity investments in real estate	$ 138,076	141,991
Real Estate Investments | The New York Times Company | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	45.00%
Equity investments in real estate	$ 69,668	70,976
Real Estate Investments | Frontier Spinning Mills, Inc. | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	40.00%
Equity investments in real estate	$ 24,138	24,288
Real Estate Investments | Beach House JV, LLC | Third Party
Investments in Programs
Equity investments in real estate	$ 15,105	15,318
Real Estate Investments | Actebis Peacock GmbH | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	30.00%
Equity investments in real estate	$ 11,205	12,186
Real Estate Investments | Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	33.00%
Equity investments in real estate	$ 8,887	9,507
Real Estate Investments | C1000 Logestiek Vastgoed B.V. | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	15.00%
Equity investments in real estate	$ 8,739	9,381
Real Estate Investments | Wanbishi Archives Co. Ltd. | CPA: 17 - Global
Investments in Programs
Equity method investment, ownership percentage	3.00%
Equity investments in real estate	$ 334	$ 335

Goodwill and Other Intangible75

Goodwill and Other Intangibles - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets, Net
Deferred tax liabilities	$ 76,854	$ 73,542
Amortization of intangible assets	$ 163,800	$ 180,800	$ 174,000
In-place lease
Finite-Lived Intangible Assets, Net
Finite lived intangible assets useful life	21 years 2 months 12 days
Deferred tax liabilities	$ 29,800
Maximum
Finite-Lived Intangible Assets, Net
Finite lived intangible assets useful life	40 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 Intangible76

Goodwill and Other Intangibles - Net Lease Intangibles (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Acquired Finite Lived Intangible Assets Liabilities
Acquired finite-lived intangible asset, acquisition	$ 160,318
Below-market rent
Acquired Finite Lived Intangible Assets Liabilities
Acquired finite lived intangible liabilities weighted average useful life	20 years 1 month
Acquired finite-lived intangible liability, acquisition	$ (604)
In-place lease
Acquired Finite Lived Intangible Assets Liabilities
Acquired intangible assets weighted-average life	21 years 2 months 12 days
Acquired finite-lived intangible asset, acquisition	$ 124,742
Above-market rent
Acquired Finite Lived Intangible Assets Liabilities
Acquired intangible assets weighted-average life	20 years
Acquired finite-lived intangible asset, acquisition	$ 35,576

Goodwill and Other Intangible77

Goodwill and Other Intangibles - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill
Balance - beginning of period	$ 681,809	$ 692,415	$ 350,208
Foreign currency translation adjustments and other	(1,293)	(10,548)	(14,258)
Other business combinations		1,704	13,585
Allocation of goodwill to the cost basis of properties sold or classified as held for sale	(34,405)	(1,762)	(3,762)
Impairment charges (Note 9)	(10,191)
Balance - end of period	635,920	681,809	692,415
CPA: 16 - Global
Goodwill
Acquisition of investment accounted for as business combination			346,642
Real Estate Ownership
Goodwill
Balance - beginning of period	618,202	628,808	286,601
Foreign currency translation adjustments and other	(1,293)	(10,548)	(14,258)
Other business combinations		1,704	13,585
Allocation of goodwill to the cost basis of properties sold or classified as held for sale	(34,405)	(1,762)	(3,762)
Impairment charges (Note 9)	(10,191)
Balance - end of period	572,313	618,202	628,808
Real Estate Ownership | CPA: 16 - Global
Goodwill
Acquisition of investment accounted for as business combination			346,642
Investment Management
Goodwill
Balance - beginning of period	63,607	63,607	63,607
Balance - end of period	$ 63,607	$ 63,607	$ 63,607

Goodwill and Other Intangible78

Goodwill and Other Intangibles - Intangible Assets and Liabilities Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets
Less: accumulated amortization	$ (539,495)	$ (512,392)
Indefinite-Lived Goodwill and Intangible Assets
Indefinite-lived intangible assets	640,761	686,679
Total intangible assets, gross	2,463,084	2,617,655
Total intangible assets, net	1,923,589	2,105,263
Finite-Lived Intangible Liabilities
Finite-lived intangible liabilities, gross	(146,085)	(184,251)
Less: accumulated amortization	40,593	46,647
Net amortizable intangible liabilities	(105,492)	(137,604)
Indefinite-Lived Intangible Liabilities
Total intangible liabilities, gross	(162,796)	(200,962)
Total intangible liabilities, net	(122,203)	(154,315)
Below-market purchase options
Indefinite-Lived Intangible Liabilities
Indefinite-lived intangible liabilities	(16,711)	(16,711)
Below-market rent
Finite-Lived Intangible Liabilities
Finite-lived intangible liabilities, gross	(133,137)	(171,199)
Less: accumulated amortization	38,231	44,873
Net amortizable intangible liabilities	(94,906)	(126,326)
Above-market ground lease
Finite-Lived Intangible Liabilities
Finite-lived intangible liabilities, gross	(12,948)	(13,052)
Less: accumulated amortization	2,362	1,774
Net amortizable intangible liabilities	(10,586)	(11,278)
Goodwill
Indefinite-Lived Goodwill and Intangible Assets
Indefinite-lived intangible assets	635,920	681,809
Trade name
Indefinite-Lived Goodwill and Intangible Assets
Indefinite-lived intangible assets	3,975	3,975
Below-market ground lease
Indefinite-Lived Goodwill and Intangible Assets
Indefinite-lived intangible assets	866	895
Contracts including internal software development costs
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	18,568	50,953
Less: accumulated amortization	(5,068)	(34,803)
Amortizable intangible assets	13,500	16,150
Management contracts
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	0	32,765
Less: accumulated amortization	0	(32,765)
Amortizable intangible assets	0	0
Internal-use software development costs
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	18,568	18,188
Less: accumulated amortization	(5,068)	(2,038)
Amortizable intangible assets	13,500	16,150
Lease intangibles
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	1,803,755	1,880,023
Less: accumulated amortization	(534,427)	(477,589)
Amortizable intangible assets	1,269,328	1,402,434
In-place lease and tenant relationship
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	1,148,232	1,205,585
Less: accumulated amortization	(322,119)	(302,737)
Amortizable intangible assets	826,113	902,848
Above-market rent
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	632,383	649,035
Less: accumulated amortization	(210,927)	(173,963)
Amortizable intangible assets	421,456	475,072
Below-market ground lease
Finite-Lived Intangible Assets
Finite lived intangible assets, gross	23,140	25,403
Less: accumulated amortization	(1,381)	(889)
Amortizable intangible assets	$ 21,759	$ 24,514

Goodwill and Other Intangible79

Goodwill and Other Intangibles - Scheduled Annual Net Amortization (Details) $ in Thousands	Dec. 31, 2016USD ($)
Net
2,017	$ 148,834
2,018	143,115
2,019	136,173
2,020	120,336
2,021	108,988
Thereafter	519,890
Total	1,177,336
Net Decrease in Lease Revenues
Net
2,017	49,925
2,018	47,663
2,019	44,630
2,020	36,950
2,021	32,459
Thereafter	114,923
Total	326,550
Increase to Amortization/ Property Expenses
Net
2,017	98,909
2,018	95,452
2,019	91,543
2,020	83,386
2,021	76,529
Thereafter	404,967
Total	$ 850,786

Fair Value Measurements - Narra

Fair Value Measurements - Narratives (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2017property	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property
Fair value inputs
Unamortized discount (premium)		$ 8,000
Goodwill, impairment loss		$ 10,191
Number of properties disposed | property		15
Direct Financing Method
Fair value inputs
Impairment charges on properties		$ 7,000
Subsequent Event
Fair value inputs
Number of properties disposed | property	2
Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Impairment charges on properties		$ 52,300
Impaired properties | property		18
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate | Industrial facilities in Erlanger, KY
Fair value inputs
Impairment charges on properties			$ 8,700
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate | Industrial facilities in Erlanger, KY | Cash flows
Fair value inputs
Discount rate			9.25%
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate | Industrial facilities in Erlanger, KY | Residual discount rate
Fair value inputs
Discount rate			9.75%
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate | Industrial facilities in Erlanger, KY | Residual capitalization rates
Fair value inputs
Discount rate			8.50%
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate | Building
Fair value inputs
Impairment charges on properties			$ 6,900
Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | Cash flows | Minimum
Fair value inputs
Discount rate				12.75%
Gen and admin to assets ratio				3.50%
Fair Value, Measurements, Nonrecurring | Level 3 | Equity method investments | Cash flows | Maximum
Fair value inputs
Discount rate				15.75%
Gen and admin to assets ratio				4.50%
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations
Fair value inputs
Impairment charges on properties		$ 59,303	29,906	$ 23,802
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Real Estate
Fair value inputs
Impairment charges on properties		$ 52,316	$ 26,597	21,738
Number of real estate properties | property			7
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Real Estate | Impaired Properties
Fair value inputs
Impairment charges on properties			$ 10,900	$ 7,800
Number of properties disposed | property		1	2
Number of real estate properties | property			5	13
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Real Estate | Vacant Properties
Fair value inputs
Impairment charges on properties				$ 14,000
Capitalization rate				8.00%
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Net investments in direct financing lease
Fair value inputs
Impairment charges on properties		$ 6,987	$ 3,309	$ 1,329
Number of real estate properties | property		1	5	8
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Equity method investments
Fair value inputs
Impairment charges on properties		$ 0	$ 0	$ 735
Fair Value, Measurements, Nonrecurring | Level 3 | Continuing Operations | Equity method investments | CPA 16 Operating Partnership
Fair value inputs
Impairment charges on properties				$ 700
Fair Value, Measurements, Nonrecurring | Level 3 | Noncontrolling interest
Fair value inputs
Impairment charges on properties		1,200	1,000
Impaired Portfolio | Fair Value, Measurements, Nonrecurring | Level 3
Fair value inputs
Impairment charges on properties		$ 41,000
Impaired properties | property		14
Goodwill, impairment loss		$ 10,200
Senior Unsecured Notes
Fair value inputs
Unamortized discount (premium)		7,800	7,800
Carrying Value | Senior Unsecured Notes | Level 2
Fair value inputs
Debt instrument, unamortized discount and debt issuance costs, net		12,100	10,500
Unamortized discount (premium)		7,800	7,800
Carrying Value | Non-Recourse Debt | Level 3
Fair value inputs
Debt instrument, unamortized discount and debt issuance costs, net		1,300	1,800
Unamortized discount (premium)		$ 200	$ (3,800)

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Carrying Value | Level 3
Liabilities:
Non-recourse debt	$ 1,706,921	$ 2,269,421
Carrying Value | Level 3 | Notes Receivable
Assets:
Receivable, fair value	10,351	10,689
Carrying Value | Level 2 | Senior Unsecured Notes
Liabilities:
Non-recourse debt	1,807,200	1,476,084
Fair Value | Level 3
Liabilities:
Non-recourse debt	1,711,364	2,293,542
Fair Value | Level 3 | Notes Receivable
Assets:
Receivable, fair value	10,046	10,610
Fair Value | Level 2 | Senior Unsecured Notes
Liabilities:
Non-recourse debt	$ 1,828,829	$ 1,459,544

Fair Value Measurements - Impai

Fair Value Measurements - Impairment of Assets Measured on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Impairment Disclosure
Impairment charges on properties	$ 52,300
Impairment Charges in Continuing Operations
Impairment Disclosure
Impairment charges on properties	59,303	$ 29,906	$ 23,802
Impairment Charges in Continuing Operations | Real Estate
Impairment Disclosure
Total fair value measurements	155,839	63,027	26,503
Impairment charges on properties	52,316	26,597	21,738
Impairment Charges in Continuing Operations | Net investments in direct financing lease
Impairment Disclosure
Total fair value measurements	23,775	65,132	39,158
Impairment charges on properties	6,987	3,309	1,329
Impairment Charges in Continuing Operations | Equity investments in real estate
Impairment Disclosure
Total fair value measurements	0	0	0
Impairment charges on properties	$ 0	$ 0	$ 735

Risk Management and Use of De83

Risk Management and Use of Derivative Financial Instruments - Narratives (Details)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2015EUR (€)
Derivatives, Fair Value [Line Items]
Cash collateral	$ 0	$ 0
Footnote Details
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 8,581,000	29,317,000	$ 23,395,000
Summary of Derivative Instruments
Derivative, Remaining Maturity	77 months
Total credit exposure on derivatives	$ 54,500,000
Derivatives, net liability position	3,300,000	8,200,000
Aggregate termination value for immediate settlement	3,300,000	8,300,000
Senior Unsecured Credit Facility - Revolver	676,715,000	485,021,000
Senior Unsecured Notes, net	1,807,200,000	1,476,084,000
Senior Unsecured Notes
Summary of Derivative Instruments
Senior Unsecured Notes, net	1,827,100,000	1,494,400,000
Senior Unsecured Notes | 2.0% Senior Notes
Summary of Derivative Instruments
Senior Unsecured Credit Facility - Revolver | €				€ 272,000,000	€ 361,000,000
Senior Unsecured Notes, net	$ 527,100,000	544,400,000
Principal Amount | €				€ 500,000,000
Debt instrument stated interest rate	2.00%			2.00%
Individual Counterparty
Summary of Derivative Instruments
Total credit exposure on derivatives	$ 29,500,000
Interest expense
Summary of Derivative Instruments
Estimated amount reclassified from OCI to income, derivatives	800,000
Other Income
Summary of Derivative Instruments
Estimated amount reclassified from OCI to income, derivatives	14,400,000
Cash Flow Hedging
Footnote Details
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7,304,000	5,338,000	(2,794,000)
Equity method investments | Cash Flow Hedging
Footnote Details
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	200,000	600,000	300,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 400,000

Risk Management and Use of De84

Risk Management and Use of Derivative Financial Instruments - Information Regarding Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value
Asset Derivatives Fair Value at	$ 58,418	$ 50,320
Liability Derivatives Fair Value at	(2,996)	(7,374)
Designated as Hedging Instrument | Foreign currency forward contracts | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	37,040	38,975
Designated as Hedging Instrument | Foreign currency collars | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	17,382	7,718
Designated as Hedging Instrument | Interest rate swap | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	190	0
Designated as Hedging Instrument | Interest rate swap | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Liability Derivatives Fair Value at	(2,996)	(4,762)
Designated as Hedging Instrument | Interest rate cap | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	45	0
Not Designated as Hedging Instrument | Interest rate swap | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	9	9
Not Designated as Hedging Instrument | Interest rate swap | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Liability Derivatives Fair Value at	0	(2,612)
Not Designated as Hedging Instrument | Stock warrants | Other assets
Derivatives, Fair Value
Asset Derivatives Fair Value at	$ 3,752	$ 3,618

Risk Management and Use of De85

Risk Management and Use of Derivative Financial Instruments - Derivative Gain Loss Recognized in OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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)	$ 8,581	$ 29,317	$ 23,395
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)	9,679	7,769	0
Derivatives in Cash Flow Hedging Relationships | Foreign currency forward 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)	(1,948)	15,949	23,167
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)	1,291	(284)	(2,628)
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)	21	64	290
Derivatives in Net Investment Hedging Relationships | Foreign currency forward 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)	$ (462)	$ 5,819	$ 2,566

Risk Management and Use of De86

Risk Management and Use of Derivative Financial Instruments - Derivative Gain Loss Reclassified From OCI (Details) - Derivatives in Cash Flow Hedging Relationships - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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	$ 7,304	$ 5,338	$ (2,794)
Foreign currency forward 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	7,442	7,272	(103)
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	(2,106)	(2,291)	(2,691)
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	$ 1,968	$ 357	$ 0

Risk Management and Use of De87

Risk Management and Use of Derivative Financial Instruments - Derivative Gain Loss Recognized in Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 4,330	$ 4,965	$ 4,081
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	2,682	4,164	3,186
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	824	514	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)	134
Not Designated as Hedging Instrument | Foreign currency forward contracts | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	0	(296)	0
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	657	649	761
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	(7)	23	0
Cash Flow Hedging | Foreign currency forward contracts | Other income and (expenses)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of Gain (Loss) on Derivatives Recognized in Income	$ 40	$ 45	$ 0

Risk Management and Use of De88

Risk Management and Use of Derivative Financial Instruments - Interest Rate Swap and Caps Summary (Details) € in Thousands, $ in Thousands	Dec. 31, 2016USD ($)instrument	Dec. 31, 2016EUR (€)instrument
Derivative Disclosure
Fair value	$ (2,752)
Not Designated as Hedging Instrument | Interest rate swap | USD
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount	$ 2,993
Fair value	$ 9
Cash Flow Hedging | Interest rate swap | USD
Derivative Disclosure
Derivative number of instruments | instrument	13	13
Notional Amount	$ 118,145
Fair value	$ (2,474)
Cash Flow Hedging | Interest rate swap | Euro
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount | €		€ 5,900
Fair value	$ (332)
Cash Flow Hedging | Interest rate cap | Euro
Derivative Disclosure
Derivative number of instruments | instrument	1	1
Notional Amount | €		€ 30,867
Fair value	$ 45

Risk Management and Use of De89

Risk Management and Use of Derivative Financial Instruments - Foreign Currency Derivatives Details (Details) € in Thousands, £ in Thousands, AUD in Thousands, $ in Thousands	Dec. 31, 2016USD ($)instrument	Dec. 31, 2016GBP (£)instrument	Dec. 31, 2016EUR (€)instrument	Dec. 31, 2016AUDinstrument
Derivative Disclosure
Fair value, foreign currency derivatives	$ 54,422
Cash Flow Hedging | Forward contracts | Euro
Derivative Disclosure
Derivative number of instruments | instrument	36	36	36	36
Notional Amount | €			€ 98,839
Fair value, foreign currency derivatives	$ 26,540
Cash Flow Hedging | Forward contracts | GBP
Derivative Disclosure
Derivative number of instruments | instrument	8	8	8	8
Notional Amount | £		£ 4,280
Fair value, foreign currency derivatives	$ 1,393
Cash Flow Hedging | Forward contracts | AUD
Derivative Disclosure
Derivative number of instruments | instrument	12	12	12	12
Notional Amount | AUD				AUD 15,256
Fair value, foreign currency derivatives	$ 1,602
Cash Flow Hedging | Foreign currency collars | Euro
Derivative Disclosure
Derivative number of instruments | instrument	20	20	20	20
Notional Amount | €			€ 80,150
Fair value, foreign currency derivatives	$ 6,287
Cash Flow Hedging | Foreign currency collars | GBP
Derivative Disclosure
Derivative number of instruments | instrument	20	20	20	20
Notional Amount | £		£ 43,000
Fair value, foreign currency derivatives	$ 11,095
Derivatives in Net Investment Hedging Relationships | Forward contracts | AUD
Derivative Disclosure
Derivative number of instruments | instrument	4	4	4	4
Notional Amount | AUD				AUD 79,658
Fair value, foreign currency derivatives	$ 7,505

Debt - Narratives (Details)

Debt - Narratives (Details)	Feb. 22, 2017USD ($)	Jan. 19, 2017EUR (€)	Sep. 12, 2016	Jul. 29, 2016USD ($)	Jan. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Feb. 22, 2017EUR (€)	Jan. 26, 2017USD ($)	Jan. 31, 2015USD ($)
Revolving Line Of Credit
Senior Unsecured Credit Facility - Revolver						$ 676,715,000	$ 485,021,000
Debt financing cost						13,403,000
Senior Unsecured Notes
Senior Unsecured Notes, net						1,807,200,000	1,476,084,000
Unamortized discount (premium)						8,000,000
Payment of financing costs						3,619,000	10,878,000	$ 12,321,000
Maximum cash distribution						$ 100,000,000
Debt instrument, covenant compliance						December 31, 2016
Non Recourse Debt
Debt instrument maturity date, range start						Oct. 1, 2017
Debt instrument maturity date, range end						Jun. 1, 2027
Prepayments of mortgage principal						$ 321,705,000	91,560,000	220,786,000
Scheduled payments of mortgage principal						161,104,000	90,328,000	205,024,000
Proceeds from mortgage financing						33,935,000	22,667,000	20,354,000
Interest paid						182,200,000	174,500,000	156,300,000
Decrease in value of balance sheet item due to foreign currency translation						92,434,000	125,447,000	117,938,000
Merged Entities
Senior Unsecured Notes
Unamortized discount (premium)						200,000
Affiliated Entity | CPA: 17 - Global
Senior Unsecured Notes
Debt instrument stated interest rate				5.90%
Debt instrument, term				5 years
Non Recourse Debt
Scheduled payments of mortgage principal				$ 33,800,000
Proceeds from mortgage financing				$ 34,600,000
Affiliated Entity | CPA: 17 - Global | EURIBOR
Non Recourse Debt
Debt instrument, basis spread on variable rate				3.30%
Affiliated Entity | CPA: 17 - Global | Noncontrolling interest
Non Recourse Debt
Proceeds from mortgage financing				$ 17,000,000
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Non Recourse Debt
Principal Amount						$ 50,800,000
Fixed interest rate | Minimum
Non Recourse Debt
Real estate mortgage interest rate						2.00%
Fixed interest rate | Maximum
Non Recourse Debt
Real estate mortgage interest rate						7.80%
Variable interest rate | Minimum
Non Recourse Debt
Real estate mortgage interest rate						0.90%
Variable interest rate | Maximum
Non Recourse Debt
Real estate mortgage interest rate						6.90%
Subsequent Event
Revolving Line Of Credit
Line of credit, maximum borrowing amount	$ 1,850,000,000
Senior Unsecured Credit Facility - Revolver	100,000,000
Non Recourse Debt
Scheduled payments of mortgage principal					$ 273,500,000
Revolving Credit Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount						$ 1,500,000,000		1,000,000,000
Line of credit, amount available in foreign currency						750,000,000
Amount available for swing line loan						50,000,000
Amount available for letters of credit						50,000,000
Line of credit facility, available						823,300,000
Letters of credit outstanding, amount						$ 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
Revolving Credit Facility | Subsequent Event
Revolving Line Of Credit
Line of credit, maximum borrowing amount	$ 1,500,000,000
Senior Unsecured Notes
Debt instrument, term	4 years
Revolving Credit Facility | Accordion
Revolving Line Of Credit
Line of credit, maximum borrowing amount						$ 2,000,000,000
Senior Unsecured Credit Facility - Revolver						500,000,000
Debt financing cost											$ 3,100,000
Term Loan Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount						250,000,000
Debt financing cost						$ 100,000	300,000
Senior Unsecured Notes
Maturity Date						Jan. 31, 2017
Term Loan Facility | Subsequent Event
Revolving Line Of Credit
Line of credit, maximum borrowing amount | €									€ 236,300,000
Debt financing cost										$ 300,000
Senior Unsecured Notes
Debt instrument, term	5 years
Term Loan Facility | Subsequent Event | EURIBOR
Non Recourse Debt
Debt instrument, basis spread on variable rate	1.10%
Senior Unsecured Credit Facility
Revolving Line Of Credit
Line of credit, maximum borrowing amount						$ 2,250,000,000
Senior Unsecured Notes
Revolving Line Of Credit
Debt financing cost						12,100,000	10,500,000
Senior Unsecured Notes
Senior Unsecured Notes, net						1,827,100,000	1,494,400,000
Unamortized discount (premium)						7,800,000	7,800,000
Payment of financing costs						$ 3,100,000	7,800,000	$ 4,200,000
Percent of adjusted funds from operations						95.00%
Senior Unsecured Notes | Minimum
Non Recourse Debt
Debt instrument, basis spread on variable rate						3.00%
Senior Unsecured Notes | Maximum
Non Recourse Debt
Debt instrument, basis spread on variable rate						3.50%
Senior Unsecured Notes | 4.25% Senior Notes
Senior Unsecured Notes
Senior Unsecured Notes, net						$ 350,000,000	$ 0
Issue Date						Sep. 12, 2016
Debt instrument stated interest rate			4.25%			4.25%
Debt instrument, term			10 years
Price of Par Value						99.682%
Maturity Date						Oct. 1, 2026
Non Recourse Debt
Principal Amount						$ 350,000,000
Senior Unsecured Notes | Subsequent Event | 2.25 Euro Senior Notes
Senior Unsecured Notes
Issue Date		Jan. 19, 2017
Debt instrument stated interest rate		2.25%
Debt instrument, term		7 years 6 months
Price of Par Value		99.448%
Maturity Date		Jul. 19, 2024
Non Recourse Debt
Principal Amount | €		€ 500,000,000
Non-Recourse Debt
Non Recourse Debt
Prepayments of mortgage principal						321,700,000
Scheduled payments of mortgage principal						18,500,000
Loss on the extinguishment of debt						(4,100,000)
Decrease in value of balance sheet item due to foreign currency translation						45,200,000
Non-Recourse Debt | International Properties
Non Recourse Debt
Scheduled payments of mortgage principal						$ 31,900,000

Debt - Summary of Senior Unsecu

Debt - Summary of Senior Unsecured Credit Facility (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Capital Lease Obligations
Debt and Capital Lease Obligations	$ 926.7	$ 735
Senior Unsecured Credit Facility
Capital Lease Obligations
Debt and Capital Lease Obligations	$ 676.7	485
Senior Unsecured Credit Facility | USD
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.10%
Maturity Date	Jan. 31, 2018
Debt and Capital Lease Obligations	$ 390	92
Senior Unsecured Credit Facility | Euro
Capital Lease Obligations
Maturity Date	Jan. 31, 2018
Debt and Capital Lease Obligations	$ 286.7	393
Senior Unsecured Credit Facility | Euro | LIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.10%
Term Loan Facility
Capital Lease Obligations
Maturity Date	Jan. 31, 2017
Debt and Capital Lease Obligations	$ 250	$ 250
Term Loan Facility | LIBOR
Capital Lease Obligations
Debt instrument, basis spread on variable rate	1.25%

Debt - Summary of Senior Unse92

Debt - Summary of Senior Unsecured Notes (Details)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Sep. 12, 2016	Dec. 31, 2015USD ($)
Senior Unsecured Notes
Carrying Value	$ 1,807,200,000			$ 1,476,084,000
Senior Unsecured Notes
Senior Unsecured Notes
Carrying Value	$ 1,827,100,000			1,494,400,000
Senior Unsecured Notes | 2.0% Senior Notes
Senior Unsecured Notes
Debt instrument stated interest rate	2.00%	2.00%
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	$ 527,100,000			544,400,000
Senior Unsecured Notes | 4.6% Senior Notes
Senior Unsecured Notes
Debt instrument stated interest rate	4.60%	4.60%
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	$ 500,000,000			500,000,000
Senior Unsecured Notes | 4.0% Senior Notes
Senior Unsecured Notes
Debt instrument stated interest rate	4.00%	4.00%
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			450,000,000
Senior Unsecured Notes | 4.25% Senior Notes
Senior Unsecured Notes
Debt instrument stated interest rate	4.25%	4.25%	4.25%
Issue Date	Sep. 12, 2016
Principal Amount	$ 350,000,000
Price of Par Value	99.682%	99.682%
Discount	$ 1,100,000
Effective Interest Rate	4.29%	4.29%
Coupon Rate	4.30%
Maturity Date	Oct. 1, 2026
Carrying Value	$ 350,000,000			$ 0

Debt - Scheduled Debt Principal

Debt - Scheduled Debt Principal Payments (Details 3) $ in Thousands	Dec. 31, 2016USD ($)
Long-term Debt, by Maturity
2,017	$ 768,480
2,018	940,391
2,019	99,566
2,020	217,044
2,021	156,985
Thereafter through 2027	2,279,751
Total principal payments	4,462,217
Deferred financing costs	(13,403)
Unamortized discount, net	(8,000)
Total scheduled debt principal payments	$ 4,440,814

Restructuring and Other Compe94

Restructuring and Other Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 0.5	$ 0.8	$ 1
Accrued severance liability	3.3
Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	8.2
Other restructuring costs	0.5
Stock Compensation Plan | Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	3.2
Chief Executive Officer
Restructuring Cost and Reserve [Line Items]
Severance costs	5.1
Chief Financial Officer | RSU and PSU | Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 2.4

Equity - Narratives (Details)

Equity - Narratives (Details) - USD ($)	1 Months Ended	3 Months Ended								12 Months Ended
	Sep. 30, 2014	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 03, 2015	Oct. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award
Distributions declared per share (usd per share)		$ 0.99	$ 0.985	$ 0.98	$ 0.9742	$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 3.9292	$ 3.8261	$ 3.685
Distributions payable		$ 107,090,000				$ 102,715,000				$ 107,090,000	$ 102,715,000
Shares issued in public offering, shares	4,600,000
Proceeds from the issuance of common stock										$ 84,063,000	$ 0	$ 0
Common stock, per share value (usd per share)	$ 0.001	$ 0.001				$ 0.001				$ 0.001	$ 0.001
Share price	$ 64
Proceeds from issuance of shares in public offering	$ 282,200,000									$ 0	$ 0	282,162,000
Redeemable Noncontrolling Interest
Distributions to noncontrolling interests										$ (17,030,000)	(14,713,000)	$ (19,719,000)
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares issued in public offering, shares										1,249,836		4,600,000
Redeemable Noncontrolling Interest
Shares issued to a third party in connection with the redemption of a redeemable noncontrolling interest, shares					217,011					217,011
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest
Distributions to noncontrolling interests										$ (13,418,000)	$ 0	$ (926,000)
Senior Unsecured Credit Facility
Share-based Compensation Arrangement by Share-based Payment Award
Repayments of debt	$ 225,800,000
Officers | WPCI
Redeemable Noncontrolling Interest
Minority interest ownership interest														7.70%
Underwriters options
Share-based Compensation Arrangement by Share-based Payment Award
Shares issued in public offering, shares	600,000
ATM
Share-based Compensation Arrangement by Share-based Payment Award
Common stock maximum offering, value		$ 314,400,000								$ 314,400,000			$ 400,000,000
Shares issued in public offering, shares										1,249,836
Weighted average share price (usd per dollar)										$ 68.52
Proceeds from the issuance of common stock										$ 84,400,000
Professional fees										$ 300,000

Equity - Distributions(Details)

Equity - Distributions(Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	$ 3.9038	$ 3.8115	$ 3.7150
Ordinary income
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	3.3075	3.5497	3.6566
Return of capital
Dividends Payable
Common Stock, Dividends, Per Share, Cash Paid	$ 0.5963	$ 0.2618	$ 0.0584

Equity - Basic and Diluted Earn

Equity - Basic and Diluted Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 267,747	$ 172,258	$ 239,826
Allocation of distribution equivalents paid on nonvested RSUs and RSAs in excess of income									(886)	(579)	(1,007)
Net income – basic									266,861	171,679	238,819
Income effect of dilutive securities, net of taxes									0	0	(77)
Net income – diluted									$ 266,861	$ 171,679	$ 238,742
Weighted-average shares outstanding – basic (shares)									106,743,012	105,675,692	98,764,164
Effect of dilutive securities (shares)									330,191	831,960	1,063,192
Weighted-average shares outstanding – diluted (shares)									107,073,203	106,507,652	99,827,356
Anti-dilutive shares									0	0	0

Equity - Rollforward of Redeema

Equity - Rollforward of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Balance - beginning of period	$ 14,944
Distributions	(17,030)	$ (14,713)	$ (19,719)
Redemption value adjustment	561	(8,873)	306
Net income	0	0	(142)
Change in other comprehensive income	0	0	(9)
Balance - end of period	965	14,944
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Balance - beginning of period	14,944	6,071	7,436
Distributions	(13,418)	0	(926)
Redemption value adjustment	(561)	8,873	(306)
Net income	0	0	(142)
Change in other comprehensive income	0	0	9
Balance - end of period	$ 965	$ 14,944	$ 6,071

Equity - Transfers to Noncontro

Equity - Transfers to Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Transfers to Noncontrolling Interest
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 267,747	$ 172,258	$ 239,826
Transfers to noncontrolling interest
Net transfers to noncontrolling interest									0	0	(41,374)
Change from net income attributable to W. P. Carey and transfers to noncontrolling interest									267,747	172,258	198,452
CPA: 16 - Global
Transfers to noncontrolling interest
Net transfers to noncontrolling interest									$ 0	$ 0	$ (41,374)

Equity - Reclassifications Out

Equity - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance - beginning of period	$ 3,561,428	$ 3,890,735	$ 2,202,731
Amounts reclassified from accumulated other comprehensive income (loss) to:
Interest expense	183,409	194,326	178,122
Equity in earnings of equity method investments in the Managed Programs and real estate	64,719	51,020	44,116
Net current period other comprehensive income (loss)	(83,282)	(101,379)	(96,863)
Balance - end of period	3,425,140	3,561,428	3,890,735
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance - beginning of period	(172,291)	(75,559)	15,336
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Other comprehensive income (loss) before reclassifications	(75,978)	(96,041)	(100,037)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(7,304)	(5,338)	3,174
Net current period other comprehensive income (loss)	(83,282)	(101,379)	(96,863)
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	1,088	4,647	5,968
Balance - end of period	(254,485)	(172,291)	(75,559)
Accumulated Other Comprehensive Income (Loss) | Amounts reclassified from accumulated other comprehensive income (loss) to:
Amounts reclassified from accumulated other comprehensive income (loss) to:
Interest expense	2,106	2,291	2,691
Other income and (expenses)	(9,410)	(7,629)	103
Equity in earnings of equity method investments in the Managed Programs and real estate			380
Gains and Losses on Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance - beginning of period	37,650	13,597	(7,488)
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Other comprehensive income (loss) before reclassifications	16,582	29,391	17,911
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive income (loss)	(7,304)	(5,338)	3,174
Net current period other comprehensive income (loss)	9,278	24,053	21,085
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	7	0	0
Balance - end of period	46,935	37,650	13,597
Gains and Losses on Derivative Instruments | Amounts reclassified from accumulated other comprehensive income (loss) to:
Amounts reclassified from accumulated other comprehensive income (loss) to:
Interest expense	2,106	2,291	2,691
Other income and (expenses)	(9,410)	(7,629)	103
Equity in earnings of equity method investments in the Managed Programs and real estate			380
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance - beginning of period	(209,977)	(89,177)	22,793
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Other comprehensive income (loss) before reclassifications	(92,434)	(125,447)	(117,938)
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)	(92,434)	(125,447)	(117,938)
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	1,081	4,647	5,968
Balance - end of period	(301,330)	(209,977)	(89,177)
Foreign Currency Translation Adjustments | Amounts reclassified from accumulated other comprehensive income (loss) to:
Amounts reclassified from accumulated other comprehensive income (loss) to:
Interest expense	0	0	0
Other income and (expenses)	0	0	0
Equity in earnings of equity method investments in the Managed Programs and real estate			0
Gains and Losses on Marketable Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance - beginning of period	36	21	31
Reconciliation Of Accumulated Comprehensive Income [Abstract]
Other comprehensive income (loss) before reclassifications	(126)	15	(10)
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)	(126)	15	(10)
Net current period other comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interest	0	0	0
Balance - end of period	(90)	36	21
Gains and Losses on Marketable Securities | Amounts reclassified from accumulated other comprehensive income (loss) to:
Amounts reclassified from accumulated other comprehensive income (loss) to:
Interest expense	0	0	0
Other income and (expenses)	$ 0	$ 0	0
Equity in earnings of equity method investments in the Managed Programs and real estate			$ 0

Stock-Based Compensation and101

Stock-Based Compensation and Other Compensation - Narratives (Details) - USD ($)	1 Months Ended			12 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense				$ 21,222,000	$ 21,626,000	$ 31,075,000
Severance costs				500,000	800,000	1,000,000
Employee service share-based compensation, tax benefit from compensation expense				6,700,000	12,500,000	17,300,000
Options vested during the period, aggregate intrinsic value				27,800,000	58,100,000	56,400,000
Deferred compensation obligation				50,222,000	56,040,000
Tax benefit recognized from stock awards				1,600,000
Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award
Maximum annual contribution per employee, amount				$ 26,500	$ 26,500	$ 26,000
Maximum percentage of annual contribution allowed by employees				10.00%	10.00%	10.00%
Profit sharing expense				$ 3,900,000	$ 4,100,000	$ 3,500,000
RSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period				277,836	189,893	188,619
Vesting period for stock options				3 years
PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period				200,005	75,277	89,653
Vesting period for stock options				3 years
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	$ 100,000	$ 300,000
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%	90.00%	85.00%
Proceeds from stock plans				$ 500,000	$ 500,000	$ 1,900,000
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock options required to be issued (shares)				1,217,274	1,395,907
Deferred compensation obligation				$ 50,200,000	$ 56,000,000
Fair value assumptions expected dividend rate				0.00%
Unrecognized stock based compensation expense				$ 19,600,000
Weighted-average remaining term				2 years
Long Term Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Risk free interest rate				0.90%
Fair value assumptions expected volatility rate				18.20%
Fair value assumptions expected volatility rate peer index				15.00%
Long Term Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Risk free interest rate				1.10%
Fair value assumptions expected volatility rate				19.10%
Fair value assumptions expected volatility rate peer index				15.60%
2009 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares authorized for grant				5,900,000
Shares available for grant				1,873,145
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				262,824	173,741	172,460
2009 Incentive Plan | PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted in period				200,005	75,277	89,653
2009 Incentive Plan | Employment agreements | PSUs Awarded
Share-based Compensation Arrangement by Share-based Payment Award
Performance stock awards excluded from LTIP count (shares)					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				185,693
Stock based incentive plan shares issued, shares	13,860	16,152	16,159
Stock based incentive plan shares issued, value	$ 1,000,000	$ 1,000,000	$ 1,000,000
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				$ 3,700,000	$ 7,400,000	$ 4,900,000
Employee Severance
Share-based Compensation Arrangement by Share-based Payment Award
Severance costs				8,200,000
Employee Severance | Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award
Severance costs				$ 3,200,000

Stock-Based Compensation and102

Stock-Based Compensation and Other Compensation - Rollforward of Nonvested RSAs, RSUs, and PSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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	356,771	442,502	519,608
Granted - shares	277,836	189,893	188,619
Vested - shares	(217,617)	(264,628)	(264,724)
Forfeited - shares	(60,125)	(10,996)	(1,001)
Adjustments - shares	0	0	0
Nonvested, ending balance - shares	356,865	356,771	442,502
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)	$ 64.09	$ 53.03	$ 45.19
Granted, weighted average grant date fair value (in dollars per share)	58.27	69.92	61.08
Vested, weighted average grant date fair value (in dollars per share)	61.32	49.69	43.35
Forfeited, weighted average grant date fair value (in dollars per share)	61.81	66.46	59.45
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)	$ 61.63	$ 64.09	$ 53.03
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	340,358	877,641	1,220,720
Granted - shares	200,005	75,277	89,653
Vested - shares	(180,723)	(792,465)	(881,388)
Forfeited - shares	(51,657)	0	(78)
Adjustments - shares	2,035	179,905	448,734
Nonvested, ending balance - shares	310,018	340,358	877,641
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)	$ 52.26	$ 32.06	$ 28.28
Granted, weighted average grant date fair value (in dollars per share)	73.18	83.68	76.05
Vested, weighted average grant date fair value (in dollars per share)	80.21	56.77	51
Forfeited, weighted average grant date fair value (in dollars per share)	75.49	0	54.31
Adjustments, weighted average grant date fair value (in dollars per share)	72.22	49.70	55.91
Nonvested, weighted average grant date fair value (in dollars per share)	$ 73.80	$ 52.26	$ 32.06

Stock-Based Compensation and103

Stock-Based Compensation and Other Compensation - Options Rollforward (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding
Outstanding - beginning of year - shares	258,787	475,765	619,601
Exercised - shares	(113,002)	(213,479)	(140,718)
Canceled/Expired - shares	(752)	(3,499)	(3,118)
Outstanding - end of year - shares	145,033	258,787	475,765
Vested and expected to vest - end of year - shares	145,033
Exercisable - end of year - shares	145,033	236,112	421,656
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Outstanding - beginning of year - weighted average exercise price (in dollars per share)	$ 31.10	$ 29.95	$ 30.30
Exercised - weighted average exercise price (in dollars per share)	28.34	28.57	31.41
Canceled/Expired - weighted average exercise price (in dollars per share)	28.42	28.71	32.99
Outstanding - end of year - weighted average exercise price (in dollars per share)	33.27	31.10	29.95
Vested and expected to vest - end of year - weighted average exercise price	33.27
Exercisable - end of year - weighted average exercise price	$ 33.27	$ 30.99	$ 29.75
Outstanding - end of year - weighted average contractual term (in Years)	3 months 18 days	1 year 22 days	1 year 9 months
Vested and expected to vest - end of year - weighted average contractual term (in Years)	3 months 18 days
Exercisable - end of year - weighted average contractual term (in Years)	3 months 18 days
Outstanding - end of year - aggregate intrinsic value	$ 3,745,163
Vested and expected to vest - end of year - aggregate intrinsic value	3,745,163
Exercisable - end of year - aggregate intrinsic value	$ 3,745,163

Income Taxes - Narratives (Deta

Income Taxes - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency
Net operating loss and other tax credit carryforwards	$ 31,381	$ 19,553
Valuation allowance	27,350	29,746
Deferred tax asset	14,000	12,600
Deferred income taxes	90,825	86,104
Accrued interest related to uncertain tax positions	1,100
Income taxes paid	$ 19,300	49,200	$ 25,200
Maximum
Income Tax Contingency
Open tax years by major jurisdictions	2,012
Minimum
Income Tax Contingency
Open tax years by major jurisdictions	2,016
Federal
Income Tax Contingency
Operating loss carryforwards, initial expiration date	Dec. 31, 2034
Foreign
Income Tax Contingency
Operating loss carryforwards, initial expiration date	Dec. 31, 2017
Income Tax Expense
Income Tax Contingency
Prior period adjustment	$ 3,000
Windfall Tax
Income Tax Contingency
Income taxes paid	$ 26,000	$ 61,700	$ 30,900

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Tax(Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Federal
Current	$ 6,412	$ 10,551	$ 19,545
Deferred	(1,608)	1,901	(7,609)
Federal income taxes	4,804	12,452	11,936
State and Local
Current	7,014	9,075	13,422
Deferred	(2,026)	1,158	(4,693)
State and local taxes	4,988	10,233	8,729
Foreign
Current	10,727	16,656	6,869
Deferred	(17,231)	(1,720)	(9,925)
Foreign income taxes	(6,504)	14,936	(3,056)
Total provision	$ 3,288	$ 37,621	$ 17,609

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate Reconciliation, Amount
Pre-tax income attributable to taxable subsidiaries	$ (15,374)	$ 72,343	$ 21,131
Federal (benefit) provision at statutory tax rate (35%)	(5,380)	25,244	7,396
Change in valuation allowance	6,477	9,074
Non-taxable income	(5,399)	(5,475)
Non-deductible expense	3,111	6,982
State and local taxes, net of federal benefit	2,749	6,151	2,296
Rate differential	892	(10,589)
Other	838	6,234	893
Recognition of taxable income as a result of the CPA®:16 Merger			4,833
Interest			2,111
Dividend income from Managed REITs			939
Tax provision — taxable subsidiaries			18,468
Deferred foreign tax benefit	(17,231)	(1,720)	(9,925)
Current foreign taxes			6,869
Other state and local taxes			2,197
Total provision	$ 3,288	$ 37,621	$ 17,609

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred Tax Assets
Unearned and deferred compensation	$ 33,100	$ 35,525
Net operating loss and other tax credit carryforwards	31,381	19,553
Basis differences — foreign investments	28,324	6,975
Other	5,560	3,788
Total deferred tax assets	98,365	65,841
Valuation allowance	(27,350)	(29,746)
Net deferred tax assets	71,015	36,095
Deferred Tax Liabilities
Basis differences — foreign investments	(123,269)	(81,058)
Basis differences — equity investees	(17,282)	(19,925)
Deferred revenue	(7,318)	(8,654)
Total deferred tax liabilities	(147,869)	(109,637)
Net Deferred Tax Liability	$ (76,854)	$ (73,542)

Income Taxes - Rollforward of

Income Taxes - Rollforward of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits
Beginning balance	$ 4,304	$ 2,055
Addition based on tax positions related to prior years	1,264	1,447
Addition based on tax positions related to the current year	137	1,510
Decrease due to lapse in statute of limitations	(97)	(572)
Foreign currency translation adjustments	(22)	(136)
Ending balance	$ 5,586	$ 4,304

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 ($)	Sep. 30, 2016USD ($)property	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)property	Jun. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2014EUR (€)property	Dec. 31, 2013USD ($)property	Jan. 31, 2014USD ($)property
Discontinued Operation Additional Disclosures
Loss from operations							$ (203,489)	$ (178,740)	$ (211,170)
Properties sold | property		4
Gain on sale of real estate, net of tax		$ 49,100
Real estate, at cost				$ 5,309,925			5,204,126	5,309,925
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale							34,405	1,762	3,762
Lease termination income			$ 32,200
Net investment in properties				5,011,145			4,801,400	5,011,145
Non-recourse debt				2,269,421			1,706,921	2,269,421
Assets held for sale				$ 59,046			26,247	59,046
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
Real Estate Investments
Discontinued Operation Additional Disclosures
Loss from operations							(188,095)	(151,284)	(199,061)
Gain on sale of real estate, net of tax							71,318	6,487	1,581
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale							$ 34,405	$ 1,762	3,762
Number of real estate properties | property							903
Assets held-for-sale
Discontinued Operation Additional Disclosures
Number of real estate properties | property				2				2
Assets held-for-sale | CPA: 16 - Global
Discontinued Operation Additional Disclosures
Financing cost					$ 15,000	$ 15,000
Continuing Operations
Discontinued Operation Additional Disclosures
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
Loss on the extinguishment of debt								(5,300)
Deposits received for real estate				$ 12,700
Continuing Operations | France
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties | €										€ 1,000
Gain on sale of real estate, net of tax									6,700
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	13
Proceeds from the sale of properties									$ 45,600
Gain on sale of real estate, net of tax	$ 600								(5,100)
Lease termination income									(8,400)
Loss on the extinguishment of debt								$ 2,100
Scheduled impairment expense									1,800
Impairment recognized on asset to be disposed									1,700		$ 100
Proceeds from sale of foreclosed assets	$ 1,400
Continuing Operations | Assets held-for-sale | Retail Facility
Discontinued Operation Additional Disclosures
Properties sold | property								13
Proceeds from the sale of properties								$ 35,700
Gain 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	2
Gain 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 foreclosed property									8,300
Mortgage loans on real estate, foreclosures									8,500
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 | Real Estate Investments
Discontinued Operation Additional Disclosures
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale									2,700
Discontinued Operations | Assets held-for-sale
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties									116,400
Gain on sale of real estate, net of tax									28,000
Loss on the extinguishment of debt									(100)
Number of properties held for sale | property											9
Payment of mortgage obligation									$ 11,400
Discontinued Operations | Assets held-for-sale | CPA: 16 - Global
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties						123,400
Gain on sale of real estate, net of tax						(300)
Loss on the extinguishment of debt						(1,200)
Payment of mortgage obligation						$ 18,900
Number of real estate properties | property									10			10
Assets held for sale												$ 133,400
Discontinued Operations | Assets held-for-sale | Jointly Owned Investments | CPA: 16 - Global
Discontinued Operation Additional Disclosures
Number of real estate properties | property												5
Level 3 | Fair Value, Measurements, Nonrecurring
Discontinued Operation Additional Disclosures
Impairment charges on properties							$ 52,300
Impaired properties | property							18
Level 3 | Fair Value, Measurements, Nonrecurring | Continuing Operations
Discontinued Operation Additional Disclosures
Impairment charges on properties							$ 59,303	29,906	$ 23,802
Impaired Portfolio | Level 3 | Fair Value, Measurements, Nonrecurring
Discontinued Operation Additional Disclosures
Impairment charges on properties							$ 41,000
Impaired properties | property							14
Noncontrolling interest | Level 3 | Fair Value, Measurements, Nonrecurring
Discontinued Operation Additional Disclosures
Impairment charges on properties							$ 1,200	1,000
Continued Operations | Noncontrolling interest
Discontinued Operation Additional Disclosures
Loss from operations							$ (1,500)	$ (2,000)	$ 300
Discontinued Operations, Disposed of by Sale
Discontinued Operation Additional Disclosures
Properties sold | property							30
Proceeds from the sale of properties							$ 542,400
Gain on sale of real estate, net of tax							42,600
Impairment charges on properties							7,000
Discontinued Operations, Disposed of by Sale | Real Estate Investments
Discontinued Operation Additional Disclosures
Allocation of goodwill to the cost basis of properties sold or classified as held-for-sale							34,400
Discontinued Operations, Disposed of by Sale | International Properties
Discontinued Operation Additional Disclosures
Gain on sale of real estate, net of tax							16,400
Real estate, at cost							39,800
Mortgage loans on real estate							60,900
Discontinued Operations, Disposed of by Sale | Domestic Properties
Discontinued Operation Additional Disclosures
Gain on sale of real estate, net of tax							11,600
Real estate, at cost							13,700
Mortgage loans on real estate							24,300
Escrow deposit							2,600
Discontinued Operations, Disposed of by Sale | Noncontrolling interest
Discontinued Operation Additional Disclosures
Gain on sale of real estate, net of tax							900
Discontinued Operations, Held-for-sale
Discontinued Operation Additional Disclosures
Proceeds from the sale of properties			44,400
Gain on sale of real estate, net of tax			$ (10,700)				600
Real estate, at cost							3,200
Mortgage loans on real estate							$ 4,500
Number of real estate properties | property				2				2

Property Dispositions and Di110

Property Dispositions and Discontinued Operations - Property Dispositions Included in Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Income (loss) from continuing operations from properties sold or classified as held for sale, net of income taxes	$ 0	$ 0	$ 33,497
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	96,625	107,494	98,959
Expenses	(44,681)	(62,606)	(81,260)
Gain on sale of real estate	71,122	6,487	1,334
Impairment charges	(50,769)	(4,071)	(22,491)
Loss on extinguishment of debt	(4,498)	(3,156)	(167)
Benefit from (provision for) income taxes	12,493	(7,187)	(3,973)
Income (loss) from continuing operations from properties sold or classified as held for sale, net of income taxes	$ 80,292	$ 36,961	$ (7,598)

Property Dispositions and Di111

Property Dispositions and Discontinued Operations - Property Dispositions Included in Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Income from discontinued operations	$ 0	$ 0	$ 33,318
CPA: 16 - Global | Discontinued Operations, Held-for-sale
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	0	0	8,931
Expenses	0	0	(2,039)
Loss on extinguishment of debt	0	0	(1,244)
Gain on sale of real estate	0	0	27,670
Income from discontinued operations	$ 0	$ 0	$ 33,318

Segment Reporting - Narratives

Segment Reporting - Narratives (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment		2
Segment Reporting Information Profit Loss
Real estate tax expense, adjustment		$ 56	$ 57.7	$ 59.8
Germany | Adjustments
Segment Reporting Information Profit Loss
Real estate tax expense, adjustment	$ (25)

Segment Reporting - Income From

Segment Reporting - Income From Owned Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Owned Real Estate:
Lease revenues									$ 663,463	$ 656,956	$ 573,829
Lease termination income and other									35,696	25,145	17,767
Operating property revenues									30,767	30,515	28,925
Reimbursable tenant costs									25,438	22,832	24,862
Total revenues	$ 228,780	$ 225,247	$ 217,266	$ 270,240	$ 265,250	$ 214,666	$ 238,079	$ 220,388	941,533	938,383	908,446
Operating Expenses
Depreciation and amortization									276,510	280,315	237,123
Impairment charges									59,303	29,906	23,067
Property expenses, excluding reimbursable tenant costs									49,431	52,199	37,725
General and administrative									82,352	103,172	91,588
Reimbursable tenant costs									91,871	78,669	155,074
Stock-based compensation expense									18,015	21,626	31,075
Restructuring and other compensation									11,925	0	0
Merger, property acquisition, and other expenses									5,377	(7,764)	34,465
Total operating expenses	144,564	136,472	160,697	180,000	150,902	159,066	130,382	140,479	621,733	580,829	637,378
Other Income and Expenses
Interest expense									(183,409)	(194,326)	(178,122)
Equity in earnings of equity method investments in the Managed Programs and real estate									64,719	51,020	44,116
Other income and (expenses)									5,667	2,113	(14,230)
Gain on change in control of interests									0	0	105,947
Total other income and expenses									(113,023)	(141,193)	(42,289)
Income from continuing operations before income taxes and gain on sale of real estate									206,777	216,361	228,779
Provision for income taxes									(3,288)	(37,621)	(17,609)
Income from continuing operations before gain on sale of real estate									203,489	178,740	211,170
Income from discontinued operations, net of tax									0	0	33,318
Gain on sale of real estate, net of tax		49,100
Net Income	48,470	112,302	53,171	60,864	56,144	23,578	66,923	38,582	274,807	185,227	246,069
Net income attributable to noncontrolling interests	(766)	(1,359)	(1,510)	(3,425)	(5,095)	(1,833)	(3,575)	(2,466)	(7,060)	(12,969)	(6,385)
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	267,747	172,258	239,826
Real Estate Ownership
Owned Real Estate:
Lease revenues									663,463	656,956	573,829
Lease termination income and other									35,696	25,145	17,767
Operating property revenues									30,767	30,515	28,925
Reimbursable tenant costs									25,438	22,832	24,862
Total revenues									755,364	735,448	645,383
Operating Expenses
Depreciation and amortization									272,274	276,236	233,099
Impairment charges									59,303	29,906	23,067
Property expenses, excluding reimbursable tenant costs									49,431	52,199	37,725
General and administrative									34,591	47,676	38,797
Reimbursable tenant costs									25,438	22,832	24,862
Stock-based compensation expense									5,224	7,873	12,659
Restructuring and other compensation									4,413	0	0
Merger, property acquisition, and other expenses									2,993	(9,908)	34,465
Total operating expenses									453,667	426,814	404,674
Other Income and Expenses
Interest expense									(183,409)	(194,326)	(178,122)
Equity in earnings of equity method investments in the Managed Programs and real estate									62,724	52,972	44,116
Other income and (expenses)									3,665	1,952	(14,505)
Gain on change in control of interests									0	0	105,947
Total other income and expenses									(117,020)	(139,402)	(42,564)
Income from continuing operations before income taxes and gain on sale of real estate									184,677	169,232	198,145
Provision for income taxes									3,418	(17,948)	916
Income from continuing operations before gain on sale of real estate									188,095	151,284	199,061
Income from discontinued operations, net of tax									0	0	33,318
Gain on sale of real estate, net of tax									71,318	6,487	1,581
Net Income									259,413	157,771	233,960
Net income attributable to noncontrolling interests									(7,060)	(10,961)	(5,573)
Net Income Attributable to W. P. Carey									$ 252,353	$ 146,810	$ 228,387

Segment Reporting - Income F114

Segment Reporting - Income From Investment Management (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment Management:
Reimbursable costs from affiliates									$ 66,433	$ 55,837	$ 130,212
Asset management revenue									61,971	49,984	38,063
Structuring revenue									47,328	92,117	71,256
Dealer manager fees									8,002	4,794	23,532
Other advisory revenue									2,435	203	0
Total revenues	$ 228,780	$ 225,247	$ 217,266	$ 270,240	$ 265,250	$ 214,666	$ 238,079	$ 220,388	941,533	938,383	908,446
Operating Expenses
General and administrative									82,352	103,172	91,588
Subadvisor fees									14,141	11,303	5,501
Dealer manager fees and expenses									12,808	11,403	21,760
Stock-based compensation expense									18,015	21,626	31,075
Restructuring and other compensation									11,925	0	0
Depreciation and amortization									276,510	280,315	237,123
Merger, property acquisition, and other expenses									5,377	(7,764)	34,465
Total operating expenses	144,564	136,472	160,697	180,000	150,902	159,066	130,382	140,479	621,733	580,829	637,378
Other Income and Expenses
Other income and (expenses)									5,667	2,113	(14,230)
Income from equity method investments									64,719	51,020	44,116
Total other income and expenses									(113,023)	(141,193)	(42,289)
Income from continuing operations before income taxes and gain on sale of real estate									206,777	216,361	228,779
Provision for income taxes									(3,288)	(37,621)	(17,609)
Net Income	48,470	112,302	53,171	60,864	56,144	23,578	66,923	38,582	274,807	185,227	246,069
Net income attributable to noncontrolling interests	(766)	(1,359)	(1,510)	(3,425)	(5,095)	(1,833)	(3,575)	(2,466)	(7,060)	(12,969)	(6,385)
Net loss attributable to redeemable noncontrolling interest									0	0	142
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	267,747	172,258	239,826
Investment Management
Investment Management:
Reimbursable costs from affiliates									66,433	55,837	130,212
Asset management revenue									61,971	49,984	38,063
Structuring revenue									47,328	92,117	71,256
Dealer manager fees									8,002	4,794	23,532
Other advisory revenue									2,435	203	0
Total revenues									186,169	202,935	263,063
Operating Expenses
General and administrative									47,761	55,496	52,791
Subadvisor fees									14,141	11,303	5,501
Dealer manager fees and expenses									12,808	11,403	21,760
Stock-based compensation expense									12,791	13,753	18,416
Restructuring and other compensation									7,512	0	0
Depreciation and amortization									4,236	4,079	4,024
Merger, property acquisition, and other expenses									2,384	2,144	0
Total operating expenses									168,066	154,015	232,704
Other Income and Expenses
Other income and (expenses)									2,002	161	275
Income from equity method investments									1,995	(1,952)	0
Total other income and expenses									3,997	(1,791)	275
Income from continuing operations before income taxes and gain on sale of real estate									22,100	47,129	30,634
Provision for income taxes									(6,706)	(19,673)	(18,525)
Net Income									15,394	27,456	12,109
Net income attributable to noncontrolling interests									0	(2,008)	(812)
Net loss attributable to redeemable noncontrolling interest									0	0	142
Net Income Attributable to W. P. Carey									$ 15,394	$ 25,448	$ 11,439

Segment Reporting - Total Compa

Segment Reporting - Total Company (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Revenues	$ 228,780	$ 225,247	$ 217,266	$ 270,240	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 941,533	$ 938,383	$ 908,446
Operating expenses	144,564	136,472	160,697	180,000	150,902	159,066	130,382	140,479	621,733	580,829	637,378
Other income and (expenses)									(113,023)	(141,193)	(42,289)
Provision for income taxes									(3,288)	(37,621)	(17,609)
Income from discontinued operations, net of tax									0	0	33,318
Gain on sale of real estate, net of tax		49,100
Gain on sale of real estate, net of tax									71,318	6,487	1,581
Net income attributable to noncontrolling interests	(766)	(1,359)	(1,510)	(3,425)	(5,095)	(1,833)	(3,575)	(2,466)	(7,060)	(12,969)	(6,385)
Net loss (income) attributable to redeemable noncontrolling interests									0	0	142
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 267,747	$ 172,258	$ 239,826

Segment Reporting - Segment Ass

Segment Reporting - Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Long-lived assets	$ 5,810,599	$ 6,102,017
Total assets	8,453,954	8,742,089
Real Estate Ownership
Assets
Long-lived assets	5,787,071	6,079,803
Total assets	8,242,263	8,537,544
Real Estate Ownership | UNITED STATES
Assets
Long-lived assets	3,784,905	3,794,232
Total assets	5,517,050	5,435,251
Real Estate Ownership | Germany
Assets
Long-lived assets	545,672	581,283
Total assets	718,397	790,895
Real Estate Ownership | Other International
Assets
Long-lived assets	1,456,494	1,704,288
Total assets	2,006,816	2,311,398
Investment Management
Assets
Long-lived assets	23,528	22,214
Total assets	$ 211,691	$ 204,545

Segment Reporting - Income by G

Segment Reporting - Income by Geography (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information Profit Loss
Revenues	$ 228,780	$ 225,247	$ 217,266	$ 270,240	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 941,533	$ 938,383	$ 908,446
Operating expenses	(144,564)	(136,472)	(160,697)	(180,000)	(150,902)	(159,066)	(130,382)	(140,479)	(621,733)	(580,829)	(637,378)
Interest expense									(183,409)	(194,326)	(178,122)
Provision for income taxes									(3,288)	(37,621)	(17,609)
Gain (loss) on sale of real estate, net of tax		49,100
Net income attributable to noncontrolling interests	$ (766)	$ (1,359)	$ (1,510)	$ (3,425)	$ (5,095)	$ (1,833)	$ (3,575)	$ (2,466)	(7,060)	(12,969)	(6,385)
Income from continuing operations attributable to W. P. Carey									267,747	172,258	206,329
Real Estate Ownership
Segment Reporting Information Profit Loss
Revenues									755,364	735,448	645,383
Operating expenses									(453,667)	(426,814)	(404,674)
Interest expense									(183,409)	(194,326)	(178,122)
Other income and expenses, excluding interest expense									66,389	54,924	135,558
Provision for income taxes									3,418	(17,948)	916
Gain (loss) on sale of real estate, net of tax									71,318	6,487	1,581
Net income attributable to noncontrolling interests									(7,060)	(10,961)	(5,573)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	0	(179)
Income from continuing operations attributable to W. P. Carey									252,353	146,810	194,890
Real Estate Ownership | UNITED STATES
Segment Reporting Information Profit Loss
Revenues									490,134	468,703	426,578
Operating expenses									(274,013)	(296,265)	(284,362)
Interest expense									(149,615)	(153,219)	(117,603)
Other income and expenses, excluding interest expense									59,683	50,891	146,156
Provision for income taxes									(4,808)	(6,219)	(3,238)
Gain (loss) on sale of real estate, net of tax									56,492	2,941	(5,119)
Net income attributable to noncontrolling interests									(7,591)	(5,358)	(4,233)
Net (loss) income attributable to noncontrolling interests of discontinued operations									0	0	(179)
Income from continuing operations attributable to W. P. Carey									170,282	61,474	158,000
Real Estate Ownership | Germany
Segment Reporting Information Profit Loss
Revenues									68,372	65,777	72,978
Operating expenses									(28,473)	818	(40,847)
Interest expense									(15,681)	(15,432)	(18,880)
Other income and expenses, excluding interest expense									649	4,175	(10,698)
Provision for income taxes									(4,083)	(4,357)	3,163
Gain (loss) on sale of real estate, net of tax									0	21	0
Net income attributable to noncontrolling interests									252	(5,537)	(1,017)
Income from continuing operations attributable to W. P. Carey									21,036	45,465	4,699
Real Estate Ownership | Other International
Segment Reporting Information Profit Loss
Revenues									196,858	200,968	145,827
Operating expenses									(151,181)	(131,367)	(79,465)
Interest expense									(18,113)	(25,675)	(41,639)
Other income and expenses, excluding interest expense									6,057	(142)	100
Provision for income taxes									12,309	(7,372)	991
Gain (loss) on sale of real estate, net of tax									14,826	3,525	6,700
Net income attributable to noncontrolling interests									279	(66)	(323)
Income from continuing operations attributable to W. P. Carey									$ 61,035	$ 39,871	$ 32,191

Selected Quarterly Financial118

Selected Quarterly Financial Data (Unaudited) - Narratives (Details) $ in Millions	3 Months Ended			12 Months Ended
	Sep. 30, 2016USD ($)property	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Interim Period, Costs Not Allocable
Lease termination income		$ 32.2
Gain on sale of real estate, net of tax	$ 49.1
Properties sold | property	4
Real estate tax expense, adjustment				$ 56	$ 57.7	$ 59.8
Germany | Adjustments
Interim Period, Costs Not Allocable
Real estate tax expense, adjustment			$ (25)
Continuing Operations
Interim Period, Costs Not Allocable
Lease termination income			$ 15

Selected Quarterly Financial119

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Data
Revenues	$ 228,780	$ 225,247	$ 217,266	$ 270,240	$ 265,250	$ 214,666	$ 238,079	$ 220,388	$ 941,533	$ 938,383	$ 908,446
Expenses	144,564	136,472	160,697	180,000	150,902	159,066	130,382	140,479	621,733	580,829	637,378
Net income	48,470	112,302	53,171	60,864	56,144	23,578	66,923	38,582	274,807	185,227	246,069
Net income attributable to noncontrolling interests	(766)	(1,359)	(1,510)	(3,425)	(5,095)	(1,833)	(3,575)	(2,466)	(7,060)	(12,969)	(6,385)
Net Income Attributable to W. P. Carey	$ 47,704	$ 110,943	$ 51,661	$ 57,439	$ 51,049	$ 21,745	$ 63,348	$ 36,116	$ 267,747	$ 172,258	$ 239,826
Earnings per share attributable to W. P. Carey:
Basic (usd per share)	$ 0.44	$ 1.03	$ 0.48	$ 0.54	$ 0.48	$ 0.20	$ 0.60	$ 0.34	$ 2.50	$ 1.62	$ 2.42
Diluted (usd per share)	0.44	1.03	0.48	0.54	0.48	0.20	0.59	0.34	2.49	1.61	2.39
Distributions declared per share (usd per share)	$ 0.99	$ 0.985	$ 0.98	$ 0.9742	$ 0.9646	$ 0.955	$ 0.954	$ 0.9525	$ 3.9292	$ 3.8261	$ 3.685

Subsequent Events (Details)

Subsequent Events (Details)

Feb. 22, 2017USD ($)

Jan. 25, 2017USD ($)

Jan. 25, 2017EUR (€)

Jan. 19, 2017EUR (€)

Jan. 31, 2017USD ($)loan

Jan. 31, 2017EUR (€)loan

Feb. 24, 2017USD ($)

Mar. 31, 2017shares

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Feb. 22, 2017EUR (€)

Jan. 26, 2017USD ($)

Jan. 25, 2017EUR (€)

Subsequent Event

Debt financing cost

$ 13,403,000

Long-term line of credit outstanding amount

676,715,000

$ 485,021,000

Payment of mortgage loan

161,104,000

90,328,000

$ 205,024,000

Non-recourse debt

1,706,921,000

2,269,421,000

Proceeds from repayment of short-term loans to affiliates

37,053,000

185,447,000

11,000,000

CWI 2

Subsequent Event

Line of credit, maximum borrowing amount

250,000,000

110,000,000

110,000,000

Discontinued Operations, Disposed of by Sale

Subsequent Event

Proceeds from the sale of properties

542,400,000

Senior Unsecured Notes

Subsequent Event

Debt financing cost

12,100,000

10,500,000

Senior Unsecured Credit Facility

Subsequent Event

Line of credit, maximum borrowing amount

1,500,000,000

$ 1,000,000,000

Term Loan Facility

Subsequent Event

Debt financing cost

100,000

$ 300,000

Line of credit, maximum borrowing amount

$ 250,000,000

Term Loan Facility | LIBOR

Subsequent Event

Debt instrument, basis spread on variable rate

1.25%

Subsequent Event

Subsequent Event

Line of credit, maximum borrowing amount

$ 1,850,000,000

Long-term line of credit outstanding amount

$ 100,000,000

Loans repaid, count | loan

5

5

Payment of mortgage loan

$ 273,500,000

Carrying value of property

$ 31,300,000

€ 29,600,000

Non-recourse debt

31,900,000

€ 30,200,000

Subsequent Event | Long Term Incentive Plan | RSUs Awarded

Subsequent Event

Shares issued | shares

173,995

Subsequent Event | Long Term Incentive Plan | Performance Stock Units

Subsequent Event

Shares issued | shares

107,934

Subsequent Event | Long Term Incentive Plan | RSA

Subsequent Event

Shares issued | shares

2,656

Subsequent Event | CWI 2

Subsequent Event

Proceeds from repayment of short-term loans to affiliates

$ 210,000,000

Subsequent Event | Discontinued Operations, Disposed of by Sale

Subsequent Event

Proceeds from the sale of properties

$ 24,300,000

€ 22,600,000

Subsequent Event | Hellweg 2

Subsequent Event

Payment of mortgage loan

$ 243,800,000

€ 228,600,000

Subsequent Event | International Properties

Subsequent Event

Loans repaid, count | loan

3

3

Payment of mortgage loan

$ 262,400,000

€ 245,900,000

Subsequent Event | Noncontrolling interest | Hellweg 2

Subsequent Event

Payment of mortgage loan

$ 89,000,000

€ 83,500,000

Subsequent Event | Senior Unsecured Credit Facility

Subsequent Event

Debt instrument, term

4 years

Line of credit, maximum borrowing amount

$ 1,500,000,000

Subsequent Event | Senior Unsecured Credit Facility | LIBOR

Subsequent Event

Debt instrument, basis spread on variable rate

1.00%

Subsequent Event | Term Loan Facility

Subsequent Event

Debt instrument, term

5 years

Debt financing cost

$ 300,000

Line of credit, maximum borrowing amount | €

€ 236,300,000

Subsequent Event | Term Loan Facility | LIBOR

Subsequent Event

Debt instrument, basis spread on variable rate

1.10%

Subsequent Event | Term Loan Facility | EURIBOR

Subsequent Event

Debt instrument, basis spread on variable rate

1.10%

Subsequent Event | 2.25 Euro Senior Notes | Senior Unsecured Notes

Subsequent Event

Debt instrument face amount | €

€ 500,000,000

Debt instrument stated interest rate

2.25%

Undiscounted rate on debt issued

99.448%

Debt instrument, term

7 years 6 months

Schedule II - Valuation And 121

Schedule II - Valuation And Qualifying Accounts (Details) - Valuation reserve for deferred tax assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 29,746	$ 20,672	$ 18,214
Other Additions	8,810	10,001	2,458
Deductions	(11,206)	(927)	0
Balance at End of Year	$ 27,350	$ 29,746	$ 20,672

Schedule III - Real Estate a122

Schedule III - Real Estate and Accumulated Depreciation - Narratives (Details) $ in Billions	Dec. 31, 2016USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Federal income tax	$ 6.9

Schedule III - Real Estate a123

Schedule III - Real Estate and Accumulated Depreciation - Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
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	$ 1,586,581
Initial Cost to Company
Land	1,252,460
Buildings	4,215,721
Cost Capitalized Subsequent to Acquisition	190,568
Increase (Decrease) in Net Investments	(476,482)
Gross Amount at which Carried at Close of Period
Land	1,128,933
Buildings	4,053,334
Total	5,182,267	$ 5,308,211	$ 4,976,685	$ 2,506,804
Accumulated Depreciation	472,294	372,735	253,627	168,076
Real Estate Subject To Operating Lease | Industrial facilities in Erlanger, KY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	10,794
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	$ 12,048
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facilities in Thurmont, MD and Farmington, NY
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	$ 1,057
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Real Estate Subject To Operating Lease | Retail facility in Montgomery, AL
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	$ 490
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facilities in Anchorage, AK and Commerce, CA
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	$ 4,018
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Toledo, OH
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	$ 1,405
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Goshen, IN
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	$ 321
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Raleigh, NC
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	$ 737
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Real Estate Subject To Operating Lease | Office facility in King of Prussia, PA
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	$ 3,445
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Pinconning, MI
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	$ 804
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facilities in San Fernando, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,466
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	$ 1,913
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas
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	12,618
Gross Amount at which Carried at Close of Period
Land	9,025
Buildings	13,213
Total	22,238
Accumulated Depreciation	$ 1,779
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Real Estate Subject To Operating Lease | Land in Glendora, CA
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
Real Estate Subject To Operating Lease | Warehouse facility in Doraville, GA
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	15,374
Increase (Decrease) in Net Investments	(11,409)
Gross Amount at which Carried at Close of Period
Land	3,288
Buildings	13,829
Total	17,117
Accumulated Depreciation	$ 58
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Collierville, TN and warehouse facility in Corpus Christi, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 47,006
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	$ 11,877
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Land in Irving and Houston, TX
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
Real Estate Subject To Operating Lease | Industrial facility in Chandler, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	8,984
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	$ 12,102
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Bridgeton, MO
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	$ 2,886
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facilities in Drayton Plains, MI and Citrus Heights, CA
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	236
Increase (Decrease) in Net Investments	193
Gross Amount at which Carried at Close of Period
Land	1,039
Buildings	5,217
Total	6,256
Accumulated Depreciation	$ 1,576
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Warehouse facility in Memphis, TN
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	294
Increase (Decrease) in Net Investments	(3,892)
Gross Amount at which Carried at Close of Period
Land	328
Buildings	1,929
Total	2,257
Accumulated Depreciation	$ 942
Life on which Depreciation in Latest Statement of Income is Computed	15 years
Real Estate Subject To Operating Lease | Retail facility in Bellevue, WA
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	$ 5,495
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facilities in Houston, TX
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	(26,145)
Gross Amount at which Carried at Close of Period
Land	211
Buildings	1,106
Total	1,317
Accumulated Depreciation	$ 268
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Rio Rancho, NM
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,190
Buildings	9,353
Cost Capitalized Subsequent to Acquisition	3,016
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,287
Buildings	11,272
Total	13,559
Accumulated Depreciation	$ 4,888
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Moorestown, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	351
Buildings	5,981
Cost Capitalized Subsequent to Acquisition	1,516
Increase (Decrease) in Net Investments	43
Gross Amount at which Carried at Close of Period
Land	351
Buildings	7,540
Total	7,891
Accumulated Depreciation	$ 3,637
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Illkirch, France
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,993
Initial Cost to Company
Land	0
Buildings	18,520
Cost Capitalized Subsequent to Acquisition	6
Increase (Decrease) in Net Investments	(4,352)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	14,174
Total	14,174
Accumulated Depreciation	$ 9,325
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facilities in Lenexa, KS and Winston-Salem, NC
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	(1,135)
Gross Amount at which Carried at Close of Period
Land	1,725
Buildings	14,414
Total	16,139
Accumulated Depreciation	$ 4,731
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facilities in Playa Vista and Venice, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 45,301
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	$ 9,967
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facility in Greenfield, IN
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	$ 1,426
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Scottsdale, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 14
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facility in Hot Springs, AR
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	$ 362
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facilities in Apopka, FL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	362
Buildings	10,855
Cost Capitalized Subsequent to Acquisition	920
Increase (Decrease) in Net Investments	(155)
Gross Amount at which Carried at Close of Period
Land	337
Buildings	11,645
Total	11,982
Accumulated Depreciation	$ 3,335
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Land in San Leandro, CA
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
Real Estate Subject To Operating Lease | Fitness facility in Austin, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	2,466
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	$ 1,829
Life on which Depreciation in Latest Statement of Income is Computed	29 years
Real Estate Subject To Operating Lease | Retail facility in Wroclaw, Poland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,188
Initial Cost to Company
Land	3,600
Buildings	10,306
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(4,373)
Gross Amount at which Carried at Close of Period
Land	2,636
Buildings	6,897
Total	9,533
Accumulated Depreciation	$ 1,554
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Fort Worth, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 31,081
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	$ 6,499
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facility in Mallorca, Spain
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	(2,791)
Gross Amount at which Carried at Close of Period
Land	9,785
Buildings	11,169
Total	20,954
Accumulated Depreciation	$ 1,835
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facilities in Florence, AL; Snellville, GA; Concord, NC; Rockport, TX; and Virginia Beach, VA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 21,984
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	$ 1,412
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | 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
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 135,299
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	$ 23,301
Real Estate Subject To Operating Lease | 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 | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | 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 | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	37 years
Real Estate Subject To Operating Lease | Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,310
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	$ 2,082
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Land in Irvine, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,619
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
Real Estate Subject To Operating Lease | Industrial facility in Alpharetta, GA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,014
Initial Cost to Company
Land	2,198
Buildings	6,349
Cost Capitalized Subsequent to Acquisition	1,248
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,198
Buildings	7,597
Total	9,795
Accumulated Depreciation	$ 921
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Office facility in Clinton, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 21,952
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	$ 4,943
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Office facilities in St. Petersburg, FL
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	$ 3,483
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Movie theater in Baton Rouge, LA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 813
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial and office facility in San Diego, CA
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	1,725
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	7,804
Buildings	18,454
Total	26,258
Accumulated Depreciation	$ 2,774
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in Richmond, CA
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	$ 277
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Warehouse facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 56,061
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	$ 11,916
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facilities in Orlando, FL; Rocky Mount, NC; and Lewisville, TX
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	$ 2,514
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facilities in Chattanooga, TN
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	$ 831
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in Mooresville, NC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,536
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	$ 1,368
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in McCalla, AL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	960
Buildings	14,472
Cost Capitalized Subsequent to Acquisition	7,466
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,076
Buildings	20,822
Total	22,898
Accumulated Depreciation	$ 3,337
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facility in Lower Makefield Township, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,052
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	$ 1,784
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in Fort Smith, AZ
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	$ 853
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Retail facilities in Greenwood, IN and Buffalo, NY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,176
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	$ 2,738
Real Estate Subject To Operating Lease | Retail facilities in Greenwood, IN and Buffalo, NY | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Retail facilities in Greenwood, IN and Buffalo, NY | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Bowling Green, KY and Jackson, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,004
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	$ 1,130
Real Estate Subject To Operating Lease | Industrial facilities in Bowling Green, KY and Jackson, TN | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Education facilities in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 30,593
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	$ 4,480
Real Estate Subject To Operating Lease | Education facilities in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Education facilities in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,131
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	$ 2,613
Real Estate Subject To Operating Lease | Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 11,285
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	$ 3,183
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Land in Kahl, Germany
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	(1,207)
Gross Amount at which Carried at Close of Period
Land	5,487
Buildings	0
Total	5,487
Accumulated Depreciation	0
Real Estate Subject To Operating Lease | Fitness facilities in Englewood, CO; Memphis TN; and Bedford, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,210
Initial Cost to Company
Land	4,877
Buildings	4,258
Cost Capitalized Subsequent to Acquisition	5,169
Increase (Decrease) in Net Investments	4,823
Gross Amount at which Carried at Close of Period
Land	4,877
Buildings	14,250
Total	19,127
Accumulated Depreciation	$ 1,462
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facility in Mons, Belgium
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,061
Initial Cost to Company
Land	1,505
Buildings	6,026
Cost Capitalized Subsequent to Acquisition	653
Increase (Decrease) in Net Investments	(1,504)
Gross Amount at which Carried at Close of Period
Land	1,234
Buildings	5,446
Total	6,680
Accumulated Depreciation	$ 697
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Warehouse facilities in Oceanside, CA and Concordville, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,354
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	$ 1,127
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Self-storage facilities located throughout the United States
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	$ 43,024
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Warehouse facility in La Vista, NE
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 20,675
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	$ 2,941
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Office facility in Pleasanton, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,584
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	$ 1,004
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facility in San Marcos, TX
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	$ 92
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facilities in Espoo, Finland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 31,853
Initial Cost to Company
Land	40,555
Buildings	15,662
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(24,614)
Gross Amount at which Carried at Close of Period
Land	23,499
Buildings	8,104
Total	31,603
Accumulated Depreciation	$ 377
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facility in Chicago, IL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 13,753
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	$ 2,536
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Louisville, CO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,201
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	$ 1,745
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Hollywood and Orlando, FL
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	$ 169
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Warehouse facility in Golden, CO
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	$ 641
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in Texarkana, TX
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	(2,783)
Gross Amount at which Carried at Close of Period
Land	216
Buildings	3,249
Total	3,465
Accumulated Depreciation	$ 433
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Eugene, OR
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,360
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	$ 505
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in South Jordan, UT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 11,940
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	$ 1,513
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Warehouse facility in Ennis, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,232
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	$ 667
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Retail facility in Braintree, MA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,958
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	$ 588
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Office facility in Paris, France
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 53,713
Initial Cost to Company
Land	23,387
Buildings	43,450
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(12,053)
Gross Amount at which Carried at Close of Period
Land	19,170
Buildings	35,614
Total	54,784
Accumulated Depreciation	$ 4,629
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 107,618
Initial Cost to Company
Land	26,564
Buildings	72,866
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(17,930)
Gross Amount at which Carried at Close of Period
Land	21,774
Buildings	59,726
Total	81,500
Accumulated Depreciation	$ 10,663
Real Estate Subject To Operating Lease | Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Industrial facility in Laupheim, Germany
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	(1,877)
Gross Amount at which Carried at Close of Period
Land	1,699
Buildings	6,835
Total	8,534
Accumulated Depreciation	$ 1,456
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Real Estate Subject To Operating Lease | Industrial facilities in Danbury, CT and Bedford, MA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,078
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	$ 2,324
Life on which Depreciation in Latest Statement of Income is Computed	29 years
Real Estate Subject To Operating Lease | Warehouse facilities in Venlo, Netherlands
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	(5,443)
Gross Amount at which Carried at Close of Period
Land	8,231
Buildings	15,070
Total	23,301
Accumulated Depreciation	$ 1,631
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Industrial and office facility in Tampere, Finland
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	(7,554)
Gross Amount at which Carried at Close of Period
Land	1,843
Buildings	30,065
Total	31,908
Accumulated Depreciation	$ 3,442
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Quincy, MA
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	$ 2,073
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Salford, United Kingdom
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	(6,392)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	23,620
Total	23,620
Accumulated Depreciation	$ 2,022
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Lone Tree, CO
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	2,822
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	4,761
Buildings	31,686
Total	36,447
Accumulated Depreciation	$ 2,713
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Mönchengladbach, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 27,988
Initial Cost to Company
Land	2,154
Buildings	6,917
Cost Capitalized Subsequent to Acquisition	44,205
Increase (Decrease) in Net Investments	(3,449)
Gross Amount at which Carried at Close of Period
Land	2,024
Buildings	47,803
Total	49,827
Accumulated Depreciation	$ 1,631
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Fitness facility in Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,172
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	$ 295
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Fitness facility in St. Charles, MO
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	$ 154
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Fitness facility in Salt Lake City, UT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,814
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	$ 316
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Land in Scottsdale, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,316
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
Real Estate Subject To Operating Lease | Industrial facility in Aurora, CO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	2,952
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	$ 241
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Warehouse facility in Burlington, NJ
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	377
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,989
Buildings	6,590
Total	10,579
Accumulated Depreciation	$ 733
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Industrial facility in Albuquerque, NM
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	$ 429
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facilities in North Salt Lake, UT and Radford, VA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,350
Initial Cost to Company
Land	10,601
Buildings	17,626
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(14,477)
Gross Amount at which Carried at Close of Period
Land	4,963
Buildings	8,787
Total	13,750
Accumulated Depreciation	$ 979
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Industrial facilities in Lexington, NC and Murrysville, PA
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	2,713
Gross Amount at which Carried at Close of Period
Land	1,608
Buildings	15,348
Total	16,956
Accumulated Depreciation	$ 1,613
Real Estate Subject To Operating Lease | Industrial facilities in Lexington, NC and Murrysville, PA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Land in Welcome, NC
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	(11,724)
Gross Amount at which Carried at Close of Period
Land	486
Buildings	0
Total	486
Accumulated Depreciation	$ 0
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 25,292
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	$ 5,405
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Real Estate Subject To Operating Lease | Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 19,214
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	$ 2,615
Real Estate Subject To Operating Lease | Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	17 years
Real Estate Subject To Operating Lease | Industrial facilities in Colton, CA; Bonner Springs, KS; and Dallas, TX and land in Eagan, MN | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Retail facility in Torrance, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 24,215
Initial Cost to Company
Land	8,412
Buildings	12,241
Cost Capitalized Subsequent to Acquisition	1,213
Increase (Decrease) in Net Investments	(77)
Gross Amount at which Carried at Close of Period
Land	8,335
Buildings	13,454
Total	21,789
Accumulated Depreciation	$ 1,573
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Real Estate Subject To Operating Lease | Office facility in Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,393
Initial Cost to Company
Land	6,578
Buildings	424
Cost Capitalized Subsequent to Acquisition	223
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,578
Buildings	647
Total	7,225
Accumulated Depreciation	$ 81
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Land in Doncaster, United Kingdom
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	(7,893)
Gross Amount at which Carried at Close of Period
Land	612
Buildings	0
Total	612
Accumulated Depreciation	0
Real Estate Subject To Operating Lease | Warehouse facility in Norwich, CT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	10,695
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	$ 2,203
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facility in Norwich, CT
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	$ 998
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Retail facility in Johnstown, PA and warehouse facility in Whitehall, PA
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	$ 1,151
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Retail facilities in York, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,603
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	$ 949
Real Estate Subject To Operating Lease | Retail facilities in York, PA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Retail facilities in York, PA | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Industrial facility in Pittsburgh, PA
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	$ 1,288
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Real Estate Subject To Operating Lease | Warehouse facilities in Atlanta, GA and Elkwood, VA
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	$ 324
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facility in Harrisburg, NC
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	$ 653
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Education facility in Nashville, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,240
Initial Cost to Company
Land	1,098
Buildings	7,043
Cost Capitalized Subsequent to Acquisition	2,611
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,098
Buildings	9,654
Total	10,752
Accumulated Depreciation	$ 799
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Chandler, AZ; industrial, office, and warehouse facility in Englewood, CO; and land in Englewood, CO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,989
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	$ 698
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facility in Cynthiana, KY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,358
Initial Cost to Company
Land	1,274
Buildings	3,505
Cost Capitalized Subsequent to Acquisition	480
Increase (Decrease) in Net Investments	(107)
Gross Amount at which Carried at Close of Period
Land	1,274
Buildings	3,878
Total	5,152
Accumulated Depreciation	$ 363
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Columbia, SC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 1,534
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Land in Midlothian, VA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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
Real Estate Subject To Operating Lease | Net-lease student housing facility in Laramie, WY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	15,626
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	$ 2,698
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Office facility in Greenville, SC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,477
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	$ 925
Life on which Depreciation in Latest Statement of Income is Computed	25 years
Real Estate Subject To Operating Lease | Warehouse facilities in Mendota, IL; Toppenish and Yakima, WA; and Plover, WI
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 2,758
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Industrial facility in Allen, TX and office facility in Sunnyvale, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 10,243
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	$ 2,271
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Hampton, NH
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,843
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	$ 708
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Industrial facilities located throughout France
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	36,306
Buildings	5,212
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(9,367)
Gross Amount at which Carried at Close of Period
Land	28,115
Buildings	4,036
Total	32,151
Accumulated Depreciation	$ 514
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Retail facility in Fairfax, VA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,944
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	$ 1,810
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Retail facility in Lombard, IL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,944
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	$ 950
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Warehouse facility in Plainfield, IN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 19,958
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	$ 2,828
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Retail facility in Kennesaw, GA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,719
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	$ 684
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Retail facility in Leawood, KS
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,782
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	$ 1,485
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Office facility in Tolland, CT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,955
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	$ 608
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facilities in Lincolnton, NC and Mauldin, SC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,734
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	$ 960
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Retail facilities located throughout Germany
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 257,606
Initial Cost to Company
Land	81,109
Buildings	153,927
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(53,029)
Gross Amount at which Carried at Close of Period
Land	62,809
Buildings	119,198
Total	182,007
Accumulated Depreciation	12,254
Real Estate Subject To Operating Lease | Office facility in Southfield, MI
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	89
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,726
Buildings	4,945
Total	6,671
Accumulated Depreciation	$ 462
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Office facility in The Woodlands, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 19,882
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	$ 2,314
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Industrial facilities in Shah Alam, Malaysia
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,447
Initial Cost to Company
Land	0
Buildings	10,429
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,651)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	7,778
Total	7,778
Accumulated Depreciation	$ 760
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Warehouse facilities in Lam Luk Ka and Bang Pa-in, Thailand
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 9,717
Initial Cost to Company
Land	13,054
Buildings	19,497
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,506)
Gross Amount at which Carried at Close of Period
Land	12,049
Buildings	17,996
Total	30,045
Accumulated Depreciation	$ 1,684
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Warehouse facilities in Valdosta, GA and Johnson City, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,015
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	$ 1,645
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facility in Amherst, NY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,959
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	$ 1,037
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Industrial and warehouse facilities in Westfield, MA
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	5,146
Increase (Decrease) in Net Investments	9
Gross Amount at which Carried at Close of Period
Land	1,922
Buildings	14,910
Total	16,832
Accumulated Depreciation	$ 1,126
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facilities in Kottka, Finland
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	(1,928)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	6,618
Total	6,618
Accumulated Depreciation	$ 884
Real Estate Subject To Operating Lease | Warehouse facilities in Kottka, Finland | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Real Estate Subject To Operating Lease | Warehouse facilities in Kottka, Finland | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Office facility in Bloomington, MN
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	$ 736
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facility in Gorinchem, Netherlands
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,505
Initial Cost to Company
Land	1,143
Buildings	5,648
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,532)
Gross Amount at which Carried at Close of Period
Land	885
Buildings	4,374
Total	5,259
Accumulated Depreciation	$ 450
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Retail facility in Cresskill, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 515
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Retail facility in Livingston, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,186
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	$ 216
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Retail facility in Maplewood, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 70
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Retail facility in Montclair, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 151
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Retail facility in Morristown, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 899
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Retail facility in Summit, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 158
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial and office facilities in Bunde, Dransfeld, and Wolfach, Germany
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	(2,564)
Gross Amount at which Carried at Close of Period
Land	2,160
Buildings	6,815
Total	8,975
Accumulated Depreciation	$ 816
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Real Estate Subject To Operating Lease | Industrial facilities in Georgetown, TX and Woodland, WA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 356
Real Estate Subject To Operating Lease | Industrial facilities in Georgetown, TX and Woodland, WA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Industrial facilities in Georgetown, TX and Woodland, WA | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Education facilities in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX
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	$ 822
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facility in Ylämylly, Finland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,554
Initial Cost to Company
Land	1,669
Buildings	6,034
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,738)
Gross Amount at which Carried at Close of Period
Land	1,292
Buildings	4,673
Total	5,965
Accumulated Depreciation	$ 400
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Industrial facility in Salisbury, NC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,132
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	$ 860
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,671
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	$ 1,133
Real Estate Subject To Operating Lease | Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Industrial facilities in Solon and Twinsburg, OH and office facility in Plymouth, MI | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facility in Cambridge, Canada
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	(1,562)
Gross Amount at which Carried at Close of Period
Land	1,536
Buildings	6,122
Total	7,658
Accumulated Depreciation	$ 571
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 11,303
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	$ 1,664
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Ramos Arizpe, Mexico
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	$ 269
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Salt Lake City, UT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 352
Real Estate Subject To Operating Lease | Industrial facilities in Salt Lake City, UT | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facilities in Salt Lake City, UT | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Net-lease student housing facility in Blairsville, PA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 11,321
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	$ 3,052
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Industrial facility in Nashville, TN
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	$ 768
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Real Estate Subject To Operating Lease | Office facility in Lafayette, LA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,680
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	$ 162
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Warehouse facilities in Atlanta, Doraville, and Rockmart, GA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 7,889
Real Estate Subject To Operating Lease | Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	23 years
Real Estate Subject To Operating Lease | Warehouse facilities in Atlanta, Doraville, and Rockmart, GA | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Warehouse facilities in Flora, MS and Muskogee, OK
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 3,342
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	$ 388
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Industrial facility in Richmond, MO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,511
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	$ 899
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Warehouse facility in Dallas, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 5,860
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	$ 994
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Real Estate Subject To Operating Lease | Industrial facility in Tuusula, Finland
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	(3,721)
Gross Amount at which Carried at Close of Period
Land	4,781
Buildings	7,992
Total	12,773
Accumulated Depreciation	$ 914
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Office facility in Turku, Finland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 22,030
Initial Cost to Company
Land	5,343
Buildings	34,106
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(8,901)
Gross Amount at which Carried at Close of Period
Land	4,137
Buildings	26,411
Total	30,548
Accumulated Depreciation	$ 2,767
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facility in Turku, Finland
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,046
Initial Cost to Company
Land	1,105
Buildings	10,243
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(2,546)
Gross Amount at which Carried at Close of Period
Land	855
Buildings	7,947
Total	8,802
Accumulated Depreciation	$ 836
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facility in Baraboo, WI
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	$ 2,375
Life on which Depreciation in Latest Statement of Income is Computed	13 years
Real Estate Subject To Operating Lease | Warehouse facility in Phoenix, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 18,485
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	$ 2,243
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Land in Calgary, Canada
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	(631)
Gross Amount at which Carried at Close of Period
Land	3,090
Buildings	0
Total	3,090
Accumulated Depreciation	0
Real Estate Subject To Operating Lease | Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	2,204
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	$ 449
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Buffalo Grove, IL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,771
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	$ 1,154
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Warehouse facility in Spanish Fork, UT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,842
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	$ 705
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Industrial facilities in West Jordan, UT and Tacoma, WA; office facility in Eugene, OR; and warehouse facility in Perris, CA
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	$ 565
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Office facility in Carlsbad, CA
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	$ 679
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Real Estate Subject To Operating Lease | Land in Pensacola, FL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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
Real Estate Subject To Operating Lease | Movie theater in Port St. Lucie, FL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
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	$ 275
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Movie theater in Hickory Creek, TX
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	$ 364
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facility in Nurieux-Volognat, France
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	(1,136)
Gross Amount at which Carried at Close of Period
Land	93
Buildings	4,220
Total	4,313
Accumulated Depreciation	$ 381
Life on which Depreciation in Latest Statement of Income is Computed	32 years
Real Estate Subject To Operating Lease | Warehouse facility in Suwanee, GA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 14,981
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	$ 725
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,057
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	$ 1,068
Life on which Depreciation in Latest Statement of Income is Computed	24 years
Real Estate Subject To Operating Lease | Industrial facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 8,350
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	$ 1,990
Life on which Depreciation in Latest Statement of Income is Computed	16 years
Real Estate Subject To Operating Lease | Industrial facility in Mesa, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 4,528
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	$ 458
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facility in North Amityville, NY
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 7,446
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	$ 1,280
Life on which Depreciation in Latest Statement of Income is Computed	26 years
Real Estate Subject To Operating Lease | Warehouse facilities in Greenville, SC
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	$ 1,448
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Real Estate Subject To Operating Lease | Industrial facility in Fort Collins, CO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
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	$ 643
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Land in Elk Grove Village, IL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 1,650
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
Real Estate Subject To Operating Lease | Office facility in Washington, MI
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
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	$ 667
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Office facility in Houston, TX
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	$ 838
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 6,165
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	$ 2,054
Real Estate Subject To Operating Lease | Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	12 years
Real Estate Subject To Operating Lease | Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	22 years
Real Estate Subject To Operating Lease | Education facility in Sacramento, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 26,898
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	$ 1,197
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Real Estate Subject To Operating Lease | Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX
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	$ 887
Life on which Depreciation in Latest Statement of Income is Computed	27 years
Real Estate Subject To Operating Lease | Office facility in Tinton Falls, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,958
Buildings	7,993
Cost Capitalized Subsequent to Acquisition	13
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	1,958
Buildings	8,006
Total	9,964
Accumulated Depreciation	$ 763
Life on which Depreciation in Latest Statement of Income is Computed	31 years
Real Estate Subject To Operating Lease | Industrial facility in Woodland, WA
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	$ 129
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Warehouse facilities in Gyál and Herceghalom, Hungary
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 31,993
Initial Cost to Company
Land	14,601
Buildings	21,915
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(8,239)
Gross Amount at which Carried at Close of Period
Land	11,306
Buildings	16,971
Total	28,277
Accumulated Depreciation	$ 2,423
Life on which Depreciation in Latest Statement of Income is Computed	21 years
Real Estate Subject To Operating Lease | Industrial facility in Windsor, CT
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	453
Buildings	637
Cost Capitalized Subsequent to Acquisition	3,422
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	453
Buildings	4,059
Total	4,512
Accumulated Depreciation	$ 56
Life on which Depreciation in Latest Statement of Income is Computed	33 years
Real Estate Subject To Operating Lease | Industrial facility in Aurora, CO
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 2,743
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	$ 297
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Chandler, AZ
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	$ 2,203
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facility in University Park, IL
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	$ 2,486
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Stavanger, Norway
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	(28,513)
Gross Amount at which Carried at Close of Period
Land	7,490
Buildings	66,037
Total	73,527
Accumulated Depreciation	$ 4,037
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Westborough, MA
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	$ 2,490
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Andover, MA
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	$ 2,684
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Newport, United Kingdom
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	(5,293)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	17,294
Total	17,294
Accumulated Depreciation	$ 981
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facilities located throughout Australia
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	10,007
Increase (Decrease) in Net Investments	(22,044)
Gross Amount at which Carried at Close of Period
Land	24,974
Buildings	88,168
Total	113,142
Accumulated Depreciation	11,235
Real Estate Subject To Operating Lease | Industrial facility in Lewisburg, OH
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	$ 834
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Opole, Poland
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	(3,591)
Gross Amount at which Carried at Close of Period
Land	1,824
Buildings	18,174
Total	19,998
Accumulated Depreciation	$ 1,094
Life on which Depreciation in Latest Statement of Income is Computed	38 years
Real Estate Subject To Operating Lease | Office facilities located throughout Spain
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	10
Increase (Decrease) in Net Investments	(42,401)
Gross Amount at which Carried at Close of Period
Land	47,382
Buildings	219,629
Total	267,011
Accumulated Depreciation	11,612
Real Estate Subject To Operating Lease | Retail facilities located throughout the United Kingdom
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	(55,893)
Gross Amount at which Carried at Close of Period
Land	53,814
Buildings	186,725
Total	240,539
Accumulated Depreciation	$ 11,936
Real Estate Subject To Operating Lease | Retail facilities located throughout the United Kingdom | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	20 years
Real Estate Subject To Operating Lease | Retail facilities located throughout the United Kingdom | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Warehouse facility in Rotterdam, Netherlands
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	(2,417)
Gross Amount at which Carried at Close of Period
Land	0
Buildings	31,518
Total	31,518
Accumulated Depreciation	$ 1,594
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facility in Bad Fischau, Austria
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	(472)
Gross Amount at which Carried at Close of Period
Land	2,793
Buildings	18,419
Total	21,212
Accumulated Depreciation	$ 1,039
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facility in Oskarshamn, Sweden
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	(1,886)
Gross Amount at which Carried at Close of Period
Land	2,817
Buildings	16,649
Total	19,466
Accumulated Depreciation	$ 706
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Sunderland, United Kingdom
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	(6,940)
Gross Amount at which Carried at Close of Period
Land	2,300
Buildings	23,812
Total	26,112
Accumulated Depreciation	$ 971
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria
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	(1,343)
Gross Amount at which Carried at Close of Period
Land	8,947
Buildings	14,997
Total	23,944
Accumulated Depreciation	$ 724
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX
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	$ 1,760
Real Estate Subject To Operating Lease | Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	38 years
Real Estate Subject To Operating Lease | Hotels in Clive, IA; Baton Rouge, LA; St. Louis, MO; Greensboro, NC; Mount Laurel, NJ; and Fort Worth, TX | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands
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	79
Increase (Decrease) in Net Investments	(817)
Gross Amount at which Carried at Close of Period
Land	5,592
Buildings	37,498
Total	43,090
Accumulated Depreciation	$ 1,325
Real Estate Subject To Operating Lease | Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	30 years
Real Estate Subject To Operating Lease | Retail facilities in Almere, Amsterdam, Eindhoven, Houten, Nieuwegein, Utrecht, Veghel, and Zwaag, Netherlands | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Irvine, CA
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	$ 435
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Education facility in Windermere, FL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,090
Buildings	34,721
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	5,090
Buildings	34,721
Total	39,811
Accumulated Depreciation	$ 1,234
Life on which Depreciation in Latest Statement of Income is Computed	38 years
Real Estate Subject To Operating Lease | Industrial facilities located throughout the United States
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	66,845
Buildings	87,575
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	66,845
Buildings	87,575
Total	154,420
Accumulated Depreciation	4,891
Real Estate Subject To Operating Lease | Industrial facilities in North Dumfries, Ottawa, Saint-Eustache, Uxbridge, and Whitchurch-Stouffville, Canada
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	17,155
Buildings	10,665
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(3,686)
Gross Amount at which Carried at Close of Period
Land	14,292
Buildings	9,842
Total	24,134
Accumulated Depreciation	703
Real Estate Subject To Operating Lease | Education facilities in Coconut Creek, FL and Houston, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	15,550
Buildings	83,862
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	15,550
Buildings	83,862
Total	99,412
Accumulated Depreciation	$ 1,688
Real Estate Subject To Operating Lease | Education facilities in Coconut Creek, FL and Houston, TX | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	37 years
Real Estate Subject To Operating Lease | Education facilities in Coconut Creek, FL and Houston, TX | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Real Estate Subject To Operating Lease | Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,585
Buildings	17,254
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,585
Buildings	17,254
Total	20,839
Accumulated Depreciation	$ 72
Real Estate Subject To Operating Lease | Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	36 years
Real Estate Subject To Operating Lease | Industrial facilities in Brampton, Toronto, and Vaughan, Canada
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	28,759
Buildings	13,998
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	28,759
Buildings	13,998
Total	42,757
Accumulated Depreciation	$ 70
Real Estate Subject To Operating Lease | Industrial facilities in Brampton, Toronto, and Vaughan, Canada | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facilities in Brampton, Toronto, and Vaughan, Canada | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	35 years
Real Estate Subject To Operating Lease | Industrial facilities in Queretaro and San Juan del Rio, Mexico
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,152
Buildings	12,614
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	13
Gross Amount at which Carried at Close of Period
Land	5,156
Buildings	12,623
Total	17,779
Accumulated Depreciation	$ 30
Real Estate Subject To Operating Lease | Industrial facilities in Queretaro and San Juan del Rio, Mexico | Minimum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	28 years
Real Estate Subject To Operating Lease | Industrial facilities in Queretaro and San Juan del Rio, Mexico | Maximum
Gross Amount at which Carried at Close of Period
Life on which Depreciation in Latest Statement of Income is Computed	40 years
Direct Financing Method
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 95,062
Initial Cost to Company
Land	95,070
Buildings	726,945
Cost Capitalized Subsequent to Acquisition	9
Increase (Decrease) in Net Investments	(137,965)
Gross Amount at which Carried at Close of Period
Total	684,059
Direct Financing Method | Retail facilities in Jacksonville and Panama City, Florida; Baton Rouge and Hammond, Louisiana; St. Peters, Missouri; and Kannapolis, Morgantown, and Shelby, North Carolina
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	(13,903)
Gross Amount at which Carried at Close of Period
Total	2,513
Direct Financing Method | Industrial facilities in Glendora, CA and Romulus, MI
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	(3,907)
Gross Amount at which Carried at Close of Period
Total	9,807
Direct Financing Method | Industrial facilities in Irving and Houston, TX
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	(3,976)
Gross Amount at which Carried at Close of Period
Total	23,623
Direct Financing Method | Retail facility in Freehold, NJ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	7,897
Initial Cost to Company
Land	0
Buildings	17,067
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(146)
Gross Amount at which Carried at Close of Period
Total	16,921
Direct Financing Method | Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,838
Initial Cost to Company
Land	2,089
Buildings	14,211
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(455)
Gross Amount at which Carried at Close of Period
Total	15,845
Direct Financing Method | Retail facilities in Arnstadt, Borken, Bünde, Dorsten, Duisburg, Freiberg, Gütersloh, Leimbach-Kaiserro, Monheim, Oberhausen, Osnabrück, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, and Wuppertal Germany
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	(31,861)
Gross Amount at which Carried at Close of Period
Total	142,727
Direct Financing Method | Warehouse facility in Brierley Hill, United Kingdom
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	(2,791)
Gross Amount at which Carried at Close of Period
Total	11,713
Direct Financing Method | Industrial and warehouse facility in Mesquite, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	6,148
Initial Cost to Company
Land	2,851
Buildings	15,899
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,468)
Gross Amount at which Carried at Close of Period
Total	17,282
Direct Financing Method | Industrial facility in Rochester, MN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,645
Initial Cost to Company
Land	881
Buildings	17,039
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,666)
Gross Amount at which Carried at Close of Period
Total	16,254
Direct Financing Method | Office facility in Irvine, CA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	6,287
Initial Cost to Company
Land	0
Buildings	17,027
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(823)
Gross Amount at which Carried at Close of Period
Total	16,204
Direct Financing Method | Industrial facility in Brownwood, TX
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
Direct Financing Method | Office facility in Scottsdale, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	19,926
Initial Cost to Company
Land	0
Buildings	43,570
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(494)
Gross Amount at which Carried at Close of Period
Total	43,076
Direct Financing Method | Retail facilities in El Paso and Fabens, TX
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	4,777
Buildings	17,823
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(17)
Gross Amount at which Carried at Close of Period
Total	22,583
Direct Financing Method | Industrial facility in Dallas, TX
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	62
Gross Amount at which Carried at Close of Period
Total	13,262
Direct Financing Method | Industrial facility in Eagan, MN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	6,938
Initial Cost to Company
Land	0
Buildings	11,548
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(141)
Gross Amount at which Carried at Close of Period
Total	11,407
Direct Financing Method | Industrial facilities in Albemarle and Old Fort, NC; Holmesville, OH; and Springfield, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	8,677
Initial Cost to Company
Land	6,542
Buildings	20,668
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,360)
Gross Amount at which Carried at Close of Period
Total	25,850
Direct Financing Method | Movie theater in Midlothian, VA
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings	16,546
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	166
Gross Amount at which Carried at Close of Period
Total	16,712
Direct Financing Method | Industrial facilities located throughout France
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings	27,270
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(5,470)
Gross Amount at which Carried at Close of Period
Total	21,800
Direct Financing Method | Retail facility in Gronau, Germany
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	5,503
Initial Cost to Company
Land	281
Buildings	4,401
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(1,056)
Gross Amount at which Carried at Close of Period
Total	3,626
Direct Financing Method | Industrial and office facility in Marktheidenfeld, Germany
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	(6,194)
Gross Amount at which Carried at Close of Period
Total	17,831
Direct Financing Method | Industrial and warehouse facility in Newbridge, United Kingdom
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	9,748
Initial Cost to Company
Land	6,851
Buildings	22,868
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(8,140)
Gross Amount at which Carried at Close of Period
Total	21,579
Direct Financing Method | Education facility in Mooresville, NC
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,359
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
Direct Financing Method | Industrial facility in Mount Carmel, IL
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	(34)
Gross Amount at which Carried at Close of Period
Total	3,366
Direct Financing Method | Retail facility in Vantaa, Finland
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	(4,695)
Gross Amount at which Carried at Close of Period
Total	16,118
Direct Financing Method | Retail facility in Linköping, Sweden
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	(3,083)
Gross Amount at which Carried at Close of Period
Total	7,803
Direct Financing Method | Industrial facility in Calgary, Canada
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	(1,195)
Gross Amount at which Carried at Close of Period
Total	5,881
Direct Financing Method | Industrial facilities in Kearney, MO; Fair Bluff, NC; York, NE; Walbridge, OH; Middlesex Township, PA; Rocky Mount, VA; and Martinsburg, WV
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	9,880
Initial Cost to Company
Land	5,780
Buildings	40,860
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(160)
Gross Amount at which Carried at Close of Period
Total	46,480
Direct Financing Method | Industrial and office facility in Leeds, United Kingdom
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	(17,569)
Gross Amount at which Carried at Close of Period
Total	1,644
Direct Financing Method | Movie theater in Pensacola, FL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings	13,034
Cost Capitalized Subsequent to Acquisition	0
Increase (Decrease) in Net Investments	(492)
Gross Amount at which Carried at Close of Period
Total	12,542
Direct Financing Method | Industrial facility in Monheim, Germany
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	(2,452)
Gross Amount at which Carried at Close of Period
Total	7,866
Direct Financing Method | Industrial facility in Göppingen, Germany
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	(16,978)
Gross Amount at which Carried at Close of Period
Total	53,859
Direct Financing Method | Warehouse facility in Elk Grove Village, IL
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	3,216
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
Direct Financing Method | Industrial facility in Sankt Ingbert, Germany
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	(7,082)
Gross Amount at which Carried at Close of Period
Total	22,606
Direct Financing Method | Industrial facility in McKees Hill, Australia
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	(587)
Gross Amount at which Carried at Close of Period
Total	2,674
Operating Real Estate
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	26,486
Initial Cost to Company
Land	5,930
Buildings	65,720
Cost Capitalized Subsequent to Acquisition	2,792
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	6,041
Buildings	67,617
Total	81,711	82,749	84,885	6,024
Accumulated Depreciation	12,143	$ 8,794	$ 4,866	$ 882
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	7,269
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	8,053
Operating Real Estate | Hotel in Bloomington, MN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	3,810
Buildings	29,126
Cost Capitalized Subsequent to Acquisition	1,834
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	3,874
Buildings	30,313
Total	38,392
Accumulated Depreciation	4,928
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	3,622
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	$ 4,205
Life on which Depreciation in Latest Statement of Income is Computed	34 years
Operating Real Estate | Hotel in Memphis, TN
SEC Schedule III, Real Estate and Accumulated Depreciation
Encumbrances	$ 26,486
Initial Cost to Company
Land	2,120
Buildings	36,594
Cost Capitalized Subsequent to Acquisition	958
Increase (Decrease) in Net Investments	0
Gross Amount at which Carried at Close of Period
Land	2,167
Buildings	37,304
Total	43,319
Accumulated Depreciation	7,215
Real Estate And Accumulated Depreciation Initial Cost Of Personal Property	3,647
Real Estate And Accumulated Depreciation Carrying Amount Of Personal Property	$ 3,848
Life on which Depreciation in Latest Statement of Income is Computed	22 years

Schedule III - Real Estate a124

Schedule III - Real Estate and Accumulated Depreciation - Accumulated Depreciation Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate Subject To Operating Lease
Schedule III, Reconciliation of Carrying Amount of Real Estate Investments
Beginning balance	$ 5,308,211	$ 4,976,685	$ 2,506,804
Dispositions	(446,144)	(19,597)	(137,018)
Additions	404,161	548,521	2,785,863
Foreign currency translation adjustment	(94,738)	(181,064)	(157,262)
Impairment charges	(41,660)	(25,773)	(20,677)
Reclassification from real estate under construction	28,989	55,362	0
Improvements	16,169	24,014	18,474
Reclassification from direct financing lease	9,740	0	13,663
Write-off of fully depreciated assets	(2,461)	(6,443)	0
Reclassification to assets held for sale	0	(63,494)	(33,162)
Ending balance	5,182,267	5,308,211	4,976,685
Schedule III, Reconciliation of Real Estate Accumulated Depreciation
Beginning balance	372,735	253,627	168,076
Depreciation expense	142,432	137,144	112,758
Dispositions	(35,172)	(1,566)	(20,740)
Foreign currency translation adjustment	(5,240)	(6,159)	(5,318)
Write-off of fully depreciated assets	(2,461)	(6,443)	0
Reclassification to assets held for sale	0	(3,868)	(1,149)
Ending balance	472,294	372,735	253,627
Operating Real Estate
Schedule III, Reconciliation of Carrying Amount of Real Estate Investments
Beginning balance	82,749	84,885	6,024
Dispositions	(3,188)	(2,663)	0
Additions	0	0	78,423
Reclassification from real estate under construction	608	0	0
Improvements	1,542	527	438
Ending balance	81,711	82,749	84,885
Schedule III, Reconciliation of Real Estate Accumulated Depreciation
Beginning balance	8,794	4,866	882
Depreciation expense	4,235	4,275	3,984
Dispositions	(886)	(347)	0
Ending balance	$ 12,143	$ 8,794	$ 4,866