Corporate Property Associates 17 - Global 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	1,390,213
Entity Filer Category	Non-accelerated Filer
Entity Registrant Name	Corporate Property Associates 17 - Global INC
Entity Common Stock Shares Outstanding		345,373,859

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments in real estate
Real estate, at cost	$ 2,701,186	$ 2,658,877
Operating real estate, at cost	258,873	275,521
Accumulated depreciation	(288,813)	(256,175)
Net investments in properties	2,671,246	2,678,223
Real estate under construction	1,578	1,068
Assets held for sale	14,850	0
Net investments in direct financing leases	510,755	495,564
Net investments in real estate	3,198,429	3,174,855
Equity investments in real estate	477,362	514,147
Cash and cash equivalents	310,738	152,889
In-place lease and tenant relationship intangible assets, net	433,849	445,223
Other intangible assets, net	77,004	80,049
Other assets, net	265,505	246,027
Total assets	4,762,887	4,613,190
Liabilities:
Non-recourse debt, net	2,017,477	1,881,774
Senior Credit Facility, net	49,719	112,834
Accounts payable, accrued expenses and other liabilities	129,771	133,948
Deferred income taxes	30,022	24,929
Below-market rent and other intangible liabilities, net	92,385	96,701
Due to affiliates	9,389	13,634
Distributions payable	55,697	54,775
Total liabilities	2,384,460	2,318,595
Commitments and contingencies (Note 11)
CPA®:17 – Global stockholders’ equity:
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued	0	0
Common stock, $0.001 par value; 900,000,000 shares authorized; and 342,748,756 and 337,065,419 shares, respectively, issued and outstanding	343	337
Additional paid-in-capital	3,096,573	3,037,727
Distributions in excess of accumulated earnings	(681,631)	(700,912)
Accumulated other comprehensive loss	(134,886)	(139,805)
Total CPA:17 - Global stockholders' equity	2,280,399	2,197,347
Noncontrolling interests	98,028	97,248
Total equity	2,378,427	2,294,595
Total liabilities and equity	$ 4,762,887	$ 4,613,190

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
CPA®:17 – Global stockholders’ equity:
Common stock, par or stated value per share	$ 0.001	$ 0.001
Common stock shares authorized	900,000,000	900,000,000
Common stock shares outstanding	342,748,756	337,065,419
Preferred stock, par or stated value per share	$ 0.001	$ 0.001
Preferred stock shares authorized	50,000,000	50,000,000
Preferred Stock Shares Issued	0	0

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Lease revenues:
Rental income	$ 75,368	$ 69,075	$ 218,451	$ 198,473
Interest income from direct financing leases	14,614	14,386	43,519	41,470
Total lease revenues	89,982	83,461	261,970	239,943
Other real estate income	10,792	12,686	37,281	36,755
Other operating income	7,604	7,839	22,175	29,404
Other interest income	1,698	4,216	5,061	10,518
Gross Revenues	110,076	108,202	326,487	316,620
Operating Expenses
Depreciation and amortization	31,244	26,844	87,559	78,675
Impairment charges	29,183	0	29,183	1,023
Property expenses	17,591	17,704	53,967	54,042
Other real estate expenses	4,083	4,808	13,966	14,083
General and administrative	3,895	4,897	12,223	13,690
Acquisition expenses	1,446	0	6,786	643
Operating Expenses, Total	87,442	54,253	203,684	162,156
Other Income and Expenses
Interest expense	(25,048)	(24,104)	(75,027)	(69,346)
Loss on extinguishment of debt	(15,990)	(5)	(23,580)	(275)
Equity in earnings (losses) of equity method investments in real estate	2,780	(1,078)	6,532	6,625
Other income and (expenses)	2,715	2,113	7,081	3,192
Gain on change in control of interests	0	0	49,922	0
Nonoperating income expense	(35,543)	(23,074)	(35,072)	(59,804)
(Loss) income before income taxes and gain on sale of real estate	(12,909)	30,875	87,731	94,660
Provision for income taxes	(2,333)	(1,676)	(6,530)	(4,441)
(Loss) income before gain on sale of real estate	(15,242)	29,199	81,201	90,219
Gain on sale of real estate, net of tax	82,287	0	132,702	2,197
Net Income	67,045	29,199	213,903	92,416
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $5,276, $5,837, $17,803, and $17,690, respectively)	(8,827)	(9,147)	(28,404)	(29,345)
Net income attributable to CPA:17 - Global	$ 58,218	$ 20,052	$ 185,499	$ 63,071
Basic and Diluted Earnings Per Share (usd per share)	$ 0.17	$ 0.06	$ 0.54	$ 0.19
Basic and Diluted Weighted-Average Shares Outstanding (shares)	343,209,362	335,668,313	341,325,683	333,523,528
Distributions Declared Per Share (usd per share)	$ 0.1625	$ 0.1625	$ 0.4875	$ 0.4875

Consolidated Statements of Inc5

Consolidated Statements of Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Available Cash Distributions	$ 5,276	$ 5,837	$ 17,803	$ 17,690

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 67,045	$ 29,199	$ 213,903	$ 92,416
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	3,707	(1,100)	15,442	(60,990)
Change in net unrealized (loss) gain on derivative instruments	(2,392)	(3,142)	(9,997)	15,665
Change in unrealized gain on marketable securities	8	7	22	21
Total other comprehensive loss	1,323	(4,235)	5,467	(45,304)
Comprehensive Income	68,368	24,964	219,370	47,112
Amounts Attributable to Noncontrolling Interests
Net income	(8,827)	(9,147)	(28,404)	(29,345)
Foreign currency translation adjustments	(108)	(103)	(548)	631
Comprehensive income attributable to noncontrolling interests	(8,935)	(9,250)	(28,952)	(28,714)
Comprehensive Income Attributable to CPA:17 - Global	$ 59,433	$ 15,714	$ 190,418	$ 18,398

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Total CPA:17 - Global Stockholders	Common Stock	Additional Paid-In-Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning equity balance, value at Dec. 31, 2014	$ 2,385,397	$ 2,306,955	$ 328	$ 2,955,440	$ (567,806)	$ (81,007)	$ 78,442
Beginning equity balance, shares at Dec. 31, 2014			328,480,839
Consolidated Statements of Equity
Shares issued, net of offering costs, value	77,680	77,680	$ 8	77,672
Shares issued, net of offering costs, shares			8,336,464
Shares issued to directors, value	100	100		100
Shares issued to directors, shares			10,288
Shares issued to affiliates, value	11,977	11,977	$ 1	11,976
Shares issued to affiliates, shares			1,237,623
Contributions from noncontrolling interest	15,928						15,928
Distributions declared	(162,537)	(162,537)			(162,537)
Distributions to noncontrolling interests	(25,535)						(25,535)
Net income	92,416	63,071			63,071		29,345
Other comprehensive income (loss):
Foreign currency translation adjustments	(60,990)	(60,359)				(60,359)	(631)
Change in net unrealized gain on derivative instruments	15,665	15,665				15,665
Change in unrealized gain on marketable securities	21	21				21
Repurchase of shares, value	(28,304)	(28,304)	$ (3)	(28,301)
Repurchase of shares, shares			(3,089,139)
Ending equity balance, value at Sep. 30, 2015	2,321,818	2,224,269	$ 334	3,016,887	(667,272)	(125,680)	97,549
Ending equity balance, shares at Sep. 30, 2015			334,976,075
Beginning equity balance, value at Jun. 30, 2015						(121,342)
Consolidated Statements of Equity
Net income	29,199
Other comprehensive income (loss):
Foreign currency translation adjustments	(1,100)
Change in net unrealized gain on derivative instruments	(3,142)
Change in unrealized gain on marketable securities	7
Ending equity balance, value at Sep. 30, 2015	2,321,818	2,224,269	$ 334	3,016,887	(667,272)	(125,680)	97,549
Ending equity balance, shares at Sep. 30, 2015			334,976,075
Beginning equity balance, value at Dec. 31, 2015	$ 2,294,595	2,197,347	$ 337	3,037,727	(700,912)	(139,805)	97,248
Beginning equity balance, shares at Dec. 31, 2015	337,065,419		337,065,419
Consolidated Statements of Equity
Shares issued, net of offering costs, value	$ 77,718	77,718	$ 8	77,710
Shares issued, net of offering costs, shares			7,725,537
Shares issued to directors, value	100	100		100
Shares issued to directors, shares			9,766
Shares issued to affiliates, value	11,254	11,254	$ 1	11,253
Shares issued to affiliates, shares			1,105,507
Contributions from noncontrolling interest	6						6
Distributions declared	(166,218)	(166,218)			(166,218)
Distributions to noncontrolling interests	(28,178)						(28,178)
Net income	213,903	185,499			185,499		28,404
Other comprehensive income (loss):
Foreign currency translation adjustments	15,442	14,894				14,894	548
Change in net unrealized gain on derivative instruments	(9,997)	(9,997)				(9,997)
Change in unrealized gain on marketable securities	22	22				22
Repurchase of shares, value	(30,220)	(30,220)	$ (3)	(30,217)
Repurchase of shares, shares			(3,157,473)
Ending equity balance, value at Sep. 30, 2016	$ 2,378,427	2,280,399	$ 343	3,096,573	(681,631)	(134,886)	98,028
Ending equity balance, shares at Sep. 30, 2016	342,748,756		342,748,756
Beginning equity balance, value at Jun. 30, 2016						(136,101)
Consolidated Statements of Equity
Net income	$ 67,045
Other comprehensive income (loss):
Foreign currency translation adjustments	3,707
Change in net unrealized gain on derivative instruments	(2,392)
Change in unrealized gain on marketable securities	8
Ending equity balance, value at Sep. 30, 2016	$ 2,378,427	$ 2,280,399	$ 343	$ 3,096,573	$ (681,631)	$ (134,886)	$ 98,028
Ending equity balance, shares at Sep. 30, 2016	342,748,756		342,748,756

Consolidated Statements of Equ8

Consolidated Statements of Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Stock Transactions, Parenthetical Disclosures [Abstract]
Distributions Declared Per Share (usd per share)	$ 0.1625	$ 0.1625	$ 0.4875	$ 0.4875

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flow - Operating Activities
Net Cash Provided by Operating Activities	$ 151,716	$ 185,087
Cash Flows — Investing Activities
Proceeds from sale of real estate	258,339	0
Acquisitions of real estate and direct financing leases	(79,528)	(191,414)
Changes in investing restricted cash	(42,892)	5,016
Return of capital from equity investments in real estate	29,997	20,434
Value added taxes refunded in connection with acquisition of real estate	23,769	15,049
Capital expenditures on owned real estate	(9,585)	(5,661)
Capital contributions to equity investments in real estate	(8,348)	(33,951)
Funding for build-to-suit projects	(2,649)	(21,440)
Payment of deferred acquisition fees to an affiliate	(2,283)	(5,894)
Other investing activities, net	1,852	928
Proceeds from sale of securities	610	0
Value added taxes paid in connection with acquisition of real estate	(232)	(21,229)
Funding of loans receivable	0	(42,600)
Net Cash Provided by (Used in) Investing Activities	169,050	(280,762)
Cash Flows — Financing Activities
Proceeds from Senior Credit Facility	225,693	108,451
Repayments of Senior Credit Facility	(289,558)	(55,000)
Proceeds from mortgage financing	204,018	108,181
Distributions paid	(165,296)	(161,481)
Scheduled payments and prepayments of mortgage principal	(155,183)	(114,867)
Proceeds from issuance of shares, net of issuance costs	77,717	77,681
Repurchase of shares	(30,219)	(28,303)
Distributions to noncontrolling interests	(28,178)	(25,535)
Payment of financing costs and mortgage deposits, net of deposits refunded	(1,962)	(2,713)
Changes in financing restricted cash	(455)	(1,098)
Contributions from noncontrolling interest	6	15,928
Proceeds from notes payable to affiliate	0	25,000
Repayment of notes payable to affiliate	0	(25,000)
Net Cash Used in Financing Activities	(163,417)	(78,756)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash	500	(6,485)
Net increase (decrease) in cash and cash equivalents	157,849	(180,916)
Cash and cash equivalents, beginning of period	152,889	275,719
Cash and cash equivalents, end of period	$ 310,738	$ 94,803

Organization

Organization	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Corporate Property Associates 17 – Global Incorporated, or CPA ® :17 – Global, and, together with its consolidated subsidiaries, we, us, or our, is a publicly owned, non-listed real estate investment trust, or REIT, that invests primarily in commercial real estate properties leased to companies both domestically and internationally. We were formed in 2007 and are managed by W. P. Carey Inc., or WPC, through one of its subsidiaries, or collectively our Advisor. As a REIT, we are not subject to U.S. federal income taxation as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, among other factors. We earn revenue primarily by leasing the properties we own to single corporate tenants, predominantly on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. Revenue is subject to fluctuation due to the timing of new lease transactions, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and changes in foreign currency exchange rates. Substantially all of our assets and liabilities are held by CPA ® :17 Limited Partnership, or the Operating Partnership, and at September 30, 2016 , we owned 99.99% of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC. At September 30, 2016 , our portfolio was comprised of full or partial ownership interests in 388 fully-occupied properties, substantially all of which were triple-net leased to 116 tenants, and totaled approximately 42 million square feet. In addition, our portfolio was comprised of full or partial ownership interests in 38 operating properties, including 37 self-storage properties and one hotel property, for an aggregate of approximately 3 million square feet. As opportunities arise, we may also make other types of commercial real estate-related investments. We operate in two reportable business segments: Net Lease and Self-Storage. Our Net Lease segment includes our domestic and foreign investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self-Storage segment is comprised of our investments in self-storage properties. In addition, we have investments in loans receivable, commercial mortgage-backed securities, or CMBS, one hotel, and other properties, which are included in our All Other category ( Note 14 ).

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation Our interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States, or GAAP. In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position, results of operations, and cash flows. Our interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2015 , which are included in the 2015 Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire year. 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. 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 part of this change in guidance, we determined that 15 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 a result of the new guidance. We elected to retrospectively adopt ASU 2015-02, which resulted in changes to our VIE disclosures within the consolidated balance sheets. 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 September 30, 2016 , we considered 29 entities VIEs, 14 of which we consolidated as we are considered the primary beneficiary and two of which we accounted for as loans receivable. The following table presents a summary of selected financial data of the consolidated VIEs, included in the consolidated balance sheets (in thousands): September 30, 2016 December 31, 2015 Net investments in properties $ 446,920 $ 309,030 Net investments in direct financing leases 316,213 303,112 In-place lease and tenant relationship intangible assets, net 26,302 20,269 Other assets, net 72,359 66,654 Total assets 867,780 705,535 Non-recourse debt, net $ 335,584 $ 262,830 Accounts payable, accrued expenses and other liabilities 19,040 15,662 Deferred income taxes 14,024 10,675 Total liabilities 369,350 289,889 At September 30, 2016 and December 31, 2015 we had 13 and 14 unconsolidated VIEs, respectively, 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 but does not give us power over decisions that significantly affect the economic performance of these entities. As of September 30, 2016 and December 31, 2015 , the carrying amount of our investments in these entities was $396.6 million , and $432.6 million , respectively, and our maximum exposure to loss in these entities was limited to our investments in the entities. At September 30, 2016 , we had an investment in a tenancy-in-common interest in various 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. 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 September 30, 2016 , none of our equity investments had carrying values below zero. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. During the year ended December 31, 2015, we determined that our presentation of common shares repurchased should be classified as a reduction to Common stock, for the par amount of the common shares repurchase and as a reduction to Additional paid-in capital for the excess over the amount allocated to common stock, as well as included as shares unissued within the consolidated financial statements. We previously classified common shares repurchased as Treasury stock in our consolidated financial statements. We repurchased 1,826,959 shares from inception through December 31, 2011, 1,818,685 shares in 2012, 1,918,540 shares in 2013, 2,798,365 shares in 2014, and 3,089,139 shares in the nine-month period ended September 30, 2015. We evaluated the impact of this correction on previously-issued financial statements and concluded that they were not materially misstated. In order to conform previously-issued financial statements to the current period, we elected to revise previously-issued financial statements the next time such financial statements are filed. The correction eliminates Treasury stock of $106.2 million as of September 30, 2015 and results in corresponding reductions of Common stock and Additional paid-in capital, but has no impact on total equity within the consolidated balance sheets as of September 30, 2015 and consolidated statements of equity for the nine months ended September 30, 2015. The consolidated statement of equity for the nine months ended September 30, 2015 has been revised accordingly. The misclassification had no impact on the previously-reported consolidated statements of income, consolidated statements of comprehensive income, or condensed consolidated statements of cash flows. 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 $12.8 million of deferred financing costs, net from Other assets, net to Non-recourse debt, net and Senior Credit Facility, net as of December 31, 2015. 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, but will apply to reimbursed tenant costs and revenues generated from our operating properties. Additionally, this guidance modifies disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all entities by one year, beginning in 2018, with early adoption permitted but not before 2017, the original public company effective date. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard. 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 or substantive participating rights over the managing member or general partner. 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 September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). ASU 2015-16 eliminates the requirement that an acquirer in a business combination account for measurement period adjustments retrospectively. Instead, an acquirer will recognize a measurement period adjustment during the period in which it determines the amount of the adjustment, including the effect on earnings of any amounts it would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, early adoption is permitted and prospective application is required for adjustments that are identified after the effective date of this update. We elected to early adopt ASU 2015-16 and implemented the standard prospectively beginning July 1, 2015. The adoption and implementation of the standard did not have a material impact on our consolidated financial statements. 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. 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 June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses. ASU 2016-13 introduces a new model for estimating 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. We are in the process of evaluating the impact of adopting ASU 2016-17 on our consolidated financial statements.

Agreements and Transactions wit

Agreements and Transactions with Related Parties	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Agreements and Transactions with Related Parties	Agreements and Transactions with Related Parties Transactions with Our Advisor We have an advisory agreement with our Advisor whereby our Advisor performs certain services for us under a fee arrangement, including the identification, evaluation, negotiation, purchase, and disposition of real estate and related assets and mortgage loans; day-to-day management; and the performance of certain administrative duties. We also reimburse our Advisor for general and administrative duties performed on our behalf. The advisory agreement has a term of one year and may be renewed for successive one-year periods. We may terminate the advisory agreement upon 60 days’ written notice without cause or penalty. The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the relevant agreements (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Amounts Included in the Consolidated Statements of Income Asset management fees $ 7,489 $ 7,422 $ 22,456 $ 21,864 Available Cash Distributions 5,276 5,837 17,803 17,690 Personnel and overhead reimbursements 2,293 3,086 7,318 9,238 Acquisition expenses 1,403 — 2,844 430 Interest expense on deferred acquisition fees and loan from affiliate 47 113 176 246 $ 16,508 $ 16,458 $ 50,597 $ 49,468 Acquisition Fees Capitalized Personnel and overhead reimbursements $ 108 $ — $ 221 $ — Current acquisition fees (a) — 563 550 5,500 Deferred acquisition fees (a) — 450 440 4,182 $ 108 $ 1,013 $ 1,211 $ 9,682 __________ (a) During the nine months ended September 30, 2016 , non-cash investing activities were comprised of $0.2 million of current acquisition fees payable and $0.4 million of deferred acquisition fees payable. During the nine months ended September 30, 2015 , non-cash investing activities were comprised of $1.5 million of deferred acquisition fees payable. The following table presents a summary of amounts included in Due to affiliates in the consolidated financial statements (in thousands): September 30, 2016 December 31, 2015 Due to Affiliates Deferred acquisition fees, including interest $ 4,436 $ 6,134 Asset management fees payable 2,446 2,497 Reimbursable costs 2,187 3,150 Current acquisition fees 245 1,847 Accounts payable 75 6 $ 9,389 $ 13,634 Acquisition and Disposition Fees We pay our Advisor acquisition fees for structuring and negotiating investments and related mortgage financing on our behalf, a portion of which is payable upon acquisition of investments, with the remainder subordinated to the achievement of a preferred return, which is a non-compounded cumulative distribution of 5.0% per annum (based initially on our invested capital). Acquisition fees payable to our Advisor with respect to our long-term, net-lease investments are 4.5% of the total cost of those investments and are comprised of (i) a current portion of 2.5% , typically paid upon acquisition, and (ii) a deferred portion of 2.0% , typically paid over three years and subject to the 5.0% preferred return described above. The preferred return was achieved as of each of the cumulative periods from inception through September 30, 2016 and December 31, 2015 . For certain types of non-long term net-lease investments, initial acquisition fees are between 1.0% and 1.75% of the equity invested plus the related acquisition fees, with no portion of the payment being deferred. Unpaid installments of deferred acquisition fees are included in Due to affiliates in the consolidated financial statements. Unpaid installments of deferred acquisition fees bear interest at an annual rate of 5.0% . Our Advisor may be entitled to receive a disposition fee equal to the lesser of (i) 50.0% of the competitive real estate commission (as defined in the advisory agreement) or (ii) 3.0% of the contract sales price of the investment being sold; however, payment of such fees is subordinated to the 5.0% preferred return. These fees are payable at the discretion of our board of directors. Asset Management Fees and Available Cash Distribution As described in the advisory agreement, we pay our Advisor asset management fees that vary based on the nature of the underlying investment. We pay 0.5% per annum of average market value for long-term net leases and certain other types of real estate investments, and 1.5% to 1.75% per annum of average equity value for certain types of securities. Asset management fees are payable in cash and/or shares of our common stock at our option, after consultation with our Advisor. If our Advisor receives all or a portion of its fees in shares, the number of shares issued is determined by dividing the dollar amount of fees by our most recently published estimated net asset value per share, or NAV, which was $10.24 as of December 31, 2015 . For the nine months ended September 30, 2016 , we paid our Advisor 50.0% of its asset management fees in cash and 50.0% in shares of our common stock. At September 30, 2016 , our Advisor owned 11,510,492 shares, or 3.4% , of our common stock. We also distribute to our Advisor, depending on the type of investments we own, up to 10.0% of the available cash of the Operating Partnership, referred to as the Available Cash Distribution, which is defined as cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and balloon payments. Asset management fees and Available Cash Distributions are included in Property expenses and Net income attributable to noncontrolling interests, respectively, in the consolidated financial statements. Personnel and Overhead Reimbursements Under the terms of the advisory agreement, our Advisor allocates a portion of its personnel and overhead expenses to us and the other non-listed REITs or other entities that are managed by our Advisor, including Corporate Property Associates 18 – Global Incorporated, or CPA ® :18 – Global; Carey Watermark Investors Incorporated, or CWI 1; Carey Watermark Investors 2 Incorporated, or CWI 2; Carey Credit Income Fund, or CCIF; and Carey European Student Housing Fund I, L.P., or CESH I; collectively referred to herein as the Managed Programs. Our Advisor allocates these expenses to us on the basis of our trailing four quarters of reported revenues in comparison to those of WPC and other entities managed by WPC and its affiliates. We reimburse our Advisor for various expenses it incurs in the course of providing services to us. We reimburse certain third-party expenses paid by our Advisor on our behalf, including property-specific costs, professional fees, office expenses, and business development expenses. In addition, we reimburse our Advisor for the allocated costs of personnel and overhead in managing our day-to-day operations, including accounting services, stockholder services, corporate management, and property management and operations. We do not reimburse our Advisor for the cost of personnel if these personnel provide services for transactions for which our Advisor receives a transaction fee, such as for acquisitions and dispositions. Under the advisory agreement currently in place, the amount of applicable personnel costs allocated to us is capped at 2.4% for 2015 and 2.2% for 2016 of pro rata lease revenues for each year. Beginning in 2017, the cap decreases to 2.0% of pro rata lease revenues for that year. Costs related to our Advisor’s legal transactions group are based on a schedule of expenses relating to services performed for different types of transactions, such as financings, lease amendments, and dispositions, among other categories, and includes 0.25% of the total investment cost of an acquisition. In general, personnel and overhead reimbursements are included in General and administrative expenses in the consolidated financial statements. However, we capitalize certain of the costs related to our Advisor’s legal transactions group if the costs relate to a transaction that is not considered to be a business combination. Excess Operating Expenses Our Advisor is obligated to reimburse us for the amount by which our operating expenses exceeds the “ 2% / 25% guidelines” (the greater of 2% of average invested assets or 25% of net income) as defined in the advisory agreement for any 12-month period, subject to certain conditions. Our operating expenses have not exceeded the amount that would require our Advisor to reimburse us. Loans from WPC In March 2015, our board of directors and the board of directors of WPC approved unsecured loans from WPC to us of up to $75.0 million , in the aggregate, at a rate equal to the rate at which WPC was able to borrow funds under its line of credit, for the purpose of facilitating acquisitions approved by our Advisor’s investment committee that we would not otherwise have had sufficient available funds to complete. All loans were made solely at the discretion of WPC’s management. The WPC line of credit was terminated in August 2015 once we entered into the Senior Credit Facility ( Note 10 ). Jointly-Owned Investments and Other Transactions with Affiliates At September 30, 2016 , we owned interests ranging from 7% to 97% in jointly-owned investments, with the remaining interests held by affiliates or by third parties. We consolidate certain of these investments and account for the remainder under the equity method of accounting. We also owned an interest in a jointly-controlled tenancy-in-common interest in several properties, which we account for under the equity method of accounting ( Note 6 ).

Net Investments in Properties a

Net Investments in Properties and Real Estate Under Construction	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Net Investments in Properties and Real Estate Under Construction	Net Investments in Properties and Real Estate Under Construction Real Estate Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Land $ 565,927 $ 560,257 Buildings and improvements 2,135,259 2,098,620 Less: Accumulated depreciation (271,602 ) (225,867 ) $ 2,429,584 $ 2,433,010 The carrying value of our real estate increased $25.2 million from December 31, 2015 to September 30, 2016 , due to the weakening of the U.S. dollar relative to foreign currencies, particularly the euro, partially offset by the strengthening of the U.S. dollar relative to the British pound sterling, during the period. Acquisitions of Real Estate During 2016 During the nine months ended September 30, 2016 , we acquired the following investments, which were deemed to be business combinations because we assumed the existing leases on the properties, at a total cost of $51.2 million , including land of $6.7 million , buildings of $40.2 million , and net lease intangibles of $4.3 million ( Note 7 ): • $17.3 million for a student housing accommodation in Jacksonville, Florida on January 8, 2016, • $4.2 million for an industrial facility in Houston, Texas on February 10, 2016, • $16.9 million for an office building in Oak Creek, Wisconsin on September 1, 2016; and • $12.8 million for a warehouse and light manufacturing building in Perrysburg, Ohio on September 30, 2016. In connection with these investments, we expensed acquisition-related costs and fees totaling $2.6 million , which are included in Acquisition expenses in the consolidated financial statements. During the nine months ended September 30, 2016 , we capitalized $4.3 million of building improvements with existing tenants of our net-leased properties. Operating Real Estate Operating real estate, which consists of our domestic self-storage operations, at cost, is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Land $ 55,688 $ 66,066 Buildings and improvements 203,185 209,455 Less: Accumulated depreciation (17,211 ) (30,308 ) $ 241,662 $ 245,213 During the nine months ended September 30, 2016 , we capitalized $1.0 million of building improvements related to our operating properties. Acquisitions of Operating Real Estate During 2016 In 2013, we acquired a 45% equity interest and 40% indirect economic interest in Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC, both of which are VIEs and were previously accounted for under the equity method of accounting and included in Equity investments in real estate in the consolidated financial statements. On April 11, 2016, we acquired the remaining 15% controlling interest in these entities at a total cost of $22.0 million and, as a result, now have 100% of the economic interest and consolidate this investment. In connection with this business combination, we expensed acquisition-related costs and fees of $3.7 million , which are included in Acquisition expenses in the consolidated financial statements. Due to the change in control resulting from the acquisition of this controlling interest, we accounted for this acquisition utilizing the purchase method of accounting. We recorded a non-cash gain on change in control of interest of $49.9 million during the nine months ended September 30, 2016 , which was the difference between the carrying value and the fair value of our previously held equity interest on April 11, 2016. The following tables present a summary of assets acquired and liabilities assumed, and revenues and earnings thereon since the respective date of acquisition through September 30, 2016 (in thousands): Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC Cash consideration $ 11,363 Assets acquired at fair value: Land (a) $ 26,941 Buildings (a) 109,399 In-place lease intangible assets (a) 9,783 Other assets acquired 1,705 147,828 Liabilities assumed at fair value: Non-recourse debt, net (70,578 ) Other liabilities assumed (831 ) (71,409 ) Total identifiable net assets 76,419 Gain on change in control of interests (49,922 ) Carrying value of previously held equity investment (15,134 ) $ 11,363 Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC April 11, 2016 through September 30, 2016 Revenues $ 5,159 Net income (b) (c) $ 42,891 Net income attributable to CPA ® :17 – Global (b) (c) $ 42,891 ___________ (a) The purchase price for this transaction was allocated to the assets acquired and liabilities assumed based upon its preliminary fair value. The information in this table is based on the best estimates of management as of the date of this Report. We are in the process of finalizing our assessment of the fair value of the assets acquired and liabilities assumed. Accordingly, the fair value of the assets acquired and liabilities assumed are subject to change. (b) Includes a $49.9 million gain on change in control of interests. (c) Includes equity in earnings of equity method investments in real estate of $0.4 million . Pro Forma Financial Information The following consolidated pro forma financial information presents our financial results as if this business combination had occurred as of January 1, 2015. The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisition actually occurred on January 1, 2015, nor does it purport to represent the results of operations for future periods (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Pro forma total revenues $ 110,076 $ 110,919 $ 329,100 $ 324,361 Pro forma net income (a) $ 68,347 $ 28,023 $ 167,667 $ 135,062 Pro forma net income attributable to noncontrolling interests (8,827 ) (9,147 ) (28,405 ) (29,345 ) Pro forma net income attributable to CPA ® :17 – Global $ 59,520 $ 18,876 $ 139,262 $ 105,717 Pro forma basic and diluted weighted-average shares outstanding 343,209,362 335,668,313 341,325,683 333,523,528 Pro-forma basic and diluted income per share $ 0.17 $ 0.06 $ 0.41 $ 0.32 ___________ (a) Pro forma net income for the nine months ended September 30, 2015 includes a gain on change in control of interests of $49.9 million and transaction costs of $3.7 million as if they were recognized on January 1, 2015. Dispositions of Operating Real Estate During 2016 During the nine months ended September 30, 2016 , we sold 34 self-storage properties. As a result, the carrying value of our Operating real estate decreased by $137.1 million from December 31, 2015 to September 30, 2016 ( Note 13 ). Real Estate Under Construction The following table provides the activity of our Real estate under construction (in thousands): Nine Months Ended September 30, 2016 Beginning balance $ 1,068 Capitalized funds 12,360 Placed into service (11,840 ) Foreign currency translation adjustments (10 ) Ending balance $ 1,578 Capitalized Funds — During the nine months ended September 30, 2016 , we capitalized real estate under construction totaling $12.4 million , including accrued costs of $8.4 million in non-cash investing activity, $2.3 million in funding of build-to-suit activity and $1.7 million funded for tenant improvements on three properties. Placed into Service — During the nine months ended September 30, 2016 , we placed into service four build-to-suit projects totaling $10.9 million and landlord-funded tenant improvements of $0.9 million , all of which were substantially completed as of September 30, 2016 . Ending Balance — At September 30, 2016 , we had two partially completed build-to-suit projects. The aggregate unfunded commitment on the remaining build-to-suit projects totaled approximately $9.7 million and $2.8 million at September 30, 2016 and December 31, 2015 , respectively. Assets Held for Sale Below is a summary of our properties held for sale (in thousands): September 30, 2016 December 31, 2015 Real estate, net $ 14,850 $ — Assets held for sale $ 14,850 $ — At September 30, 2016 , we had one property classified as Assets held for sale ( Note 15 ). At December 31, 2015 , we did not have any properties classified as Assets held for sale.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 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 and loans receivable. Operating leases are not included in finance receivables as such amounts are not recognized as an asset in the consolidated financial statements. Our loans receivable are included in Other assets, net in the consolidated financial statements. Earnings from our loans receivable are included in Other interest income in the consolidated financial statements. Net Investments in Direct Financing Leases On February 10, 2016, we entered into a net lease financing transaction for an industrial facility in Houston, Texas for $4.2 million . In connection with this business combination, we expensed acquisition-related costs and fees of $0.3 million , which are included in Acquisition expenses in the consolidated financial statements. On April 8, 2016, we entered into a net lease financing transaction for six newspaper printing facilities in Ohio, North Carolina, Pennsylvania and Missouri for $12.0 million , including capitalized acquisition-related costs and fees of $0.5 million . Loans Receivable 127 West 23 rd Manager, LLC — On February 3, 2015, we provided financing of $12.6 million to a subsidiary of 127 West 23 rd Manager, LLC for the acquisition of a building in New York, New York that is intended to be developed as a hotel. The loan has an interest rate of 7% and had a scheduled maturity on February 3, 2016, subject to extension options. In connection with this transaction, during the three months ended March 31, 2015, we expensed acquisition-related costs and fees of $0.1 million , which are included in Acquisition expenses in the consolidated financial statements. During 2016, the borrower exercised multiple options to extend the loan. At September 30, 2016 , the balance of the loan receivable remained $12.6 million . On November 4, 2016, we received full repayment of the $12.6 million balance of this loan receivable. 1185 Broadway LLC — On January 8, 2015, we provided a mezzanine loan of $30.0 million to a subsidiary of 1185 Broadway LLC for the development of a hotel on a parcel of land in New York, New York. The mezzanine loan is collateralized by an equity interest in a subsidiary of 1185 Broadway LLC. It has an interest rate of 10% and had a scheduled maturity on January 8, 2016. In connection with this transaction, during the three months ended March 31, 2015, we expensed acquisition-related costs and fees of $0.3 million , which are included in Acquisition expenses in the consolidated financial statements. During 2016, the borrower exercised options that extended the maturity of the loan to January 8, 2017 . The agreement also contains rights to certain fees upon maturity and an equity interest in the underlying entity that has been recorded in Other assets, net in the consolidated financial statements. At September 30, 2016 , the balance of the loan receivable including interest thereon was $31.5 million . China Alliance Properties Limited — On December 14, 2010, we provided financing of $40.0 million to China Alliance Properties Limited, a subsidiary of Shanghai Forte Land Co., Ltd. The financing was provided through a collateralized loan that was guaranteed by Shanghai Forte Land Co., Ltd.’s parent company, Fosun International Limited. It had an interest rate of 11% and was repaid in full to us on December 11, 2015. 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. At both September 30, 2016 and December 31, 2015 , none of the balances of our finance receivables were past due and we had not established any allowances for credit losses. Additionally, there were no modifications of finance receivables during the nine months ended September 30, 2016 other than the extensions noted above. We evaluate the credit quality of our finance receivables utilizing an internal five-point credit rating scale, with one representing the highest credit quality and five representing the lowest. The credit quality evaluation of our finance receivables was last updated in the third quarter of 2016 . A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands): Number of Tenants / Obligors at Carrying Value at Internal Credit Quality Indicator September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 1 — — $ — $ — 2 2 1 61,730 2,264 3 10 10 427,328 429,212 4 5 4 65,797 108,132 5 — — — — $ 554,855 $ 539,608

Equity Investments in Real Esta

Equity Investments in Real Estate	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in Real Estate	Equity Investments in Real Estate We own equity interests in 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 and, where applicable, based upon an allocation of the investment’s net assets at book value as if the investment were hypothetically liquidated at the end of each reporting period. The following table presents Equity in earnings in equity method investments in real estate, which represents our proportionate share of the income or losses of these investments, as well as amortization of basis differences related to purchase accounting adjustments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Equity Earnings from Equity Investments: Net Lease $ 4,056 $ 4,080 $ 12,369 $ 11,947 Self-Storage — (364 ) (394 ) (1,311 ) All Other (174 ) (3,663 ) (2,035 ) (1,755 ) 3,882 53 9,940 8,881 Amortization of Basis Differences on Equity Investments: Net Lease (667 ) (821 ) (2,307 ) (1,447 ) Self-Storage — (39 ) (39 ) (116 ) All Other (435 ) (271 ) (1,062 ) (693 ) (1,102 ) (1,131 ) (3,408 ) (2,256 ) Equity in earnings (losses) of equity method investments in real estate $ 2,780 $ (1,078 ) $ 6,532 $ 6,625 The following table sets forth our ownership interests in our equity investments in real estate and their respective carrying values, along with funding to developers for the acquisition, development, and construction of real estate, or ADC Arrangements, that are recorded as equity investments (dollars in thousands): Carrying Value at Lessee/Equity Investee Co-owner Ownership Interest September 30, 2016 December 31, 2015 Net Lease: C1000 Logistiek Vastgoed B.V. (a) (b) WPC 85% $ 58,056 $ 59,629 U-Haul Moving Partners, Inc. and Mercury Partners, LP (c) WPC 12% 38,030 39,309 Bank Pekao S.A. (a) (c) CPA ® :18 – Global 50% 24,730 25,785 BPS Nevada, LLC (c) (d) Third Party 15% 22,728 22,007 State Farm (c) CPA ® :18 – Global 50% 17,638 18,587 Apply Sørco AS (a) CPA ® :18 – Global 49% 15,660 15,170 Berry Plastics Corporation (c) WPC 50% 15,179 16,094 Tesco plc (a) (c) (e) WPC 49% 11,734 11,849 Hellweg Die Prof-Baumärkte GmbH & Co. KG (referred to as Hellweg 2) (a) (c) WPC 37% 11,460 12,212 Agrokor d.d. (referred to as Agrokor 5) (a) (c) CPA ® :18 – Global 20% 7,382 7,858 Eroski Sociedad Cooperativa – Mallorca (a) WPC 30% 7,008 6,790 Dick’s Sporting Goods, Inc. (c) WPC 45% 4,388 5,055 233,993 240,345 Self-Storage: Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC (c) (f) Third Party N/A — 16,060 — 16,060 All Other: Shelborne Property Associates, LLC (c) (d) (g) (h) Third Party 33% 141,038 148,121 BG LLH, LLC (c) (d) Third Party 7% 36,942 37,720 IDL Wheel Tenant, LLC (c) (d) (g) Third Party N/A 37,925 44,387 BPS Nevada, LLC - Preferred Equity (c) (i) Third Party N/A 27,464 27,514 243,369 257,742 $ 477,362 $ 514,147 __________ (a) The carrying value of this investment is affected by the impact of fluctuations in the exchange rate of the applicable foreign currency. (b) This investment represents a tenancy-in-common interest, whereby the property is encumbered by debt for which we are jointly and severally liable. The co-obligor is WPC and the amount due under the arrangement was approximately $72.8 million at September 30, 2016 . Of this amount, $61.8 million represents the amount we agreed to pay and is included within the carrying value of this investment at September 30, 2016 . (c) This investment is a VIE. (d) This investment is reported using the hypothetical liquidation at book value model. (e) On July 29, 2016, this investment refinanced a non-recourse mortgage loan that had an outstanding balance of $33.8 million with new financing of $34.6 million , of which our proportionate share was $17.0 million . The previous loan had an interest rate of 5.9% and a maturity date of July 31, 2016, while the new loan has an interest rate of Euro Interbank Offered Rate, or EURIBOR, plus a margin of 3.3% and a term of five years. (f) At December 31, 2015, the carrying value of this investment included our 45% equity interest as well as a 40% indirect economic interest. On April 11, 2016, we acquired the remaining 15% controlling interest in these entities and, as a result, now have 100% of the economic interest and consolidate this investment as of September 30, 2016 ( Note 4 ). (g) Represents a domestic ADC Arrangement. There was no unfunded balance on the loan related to this investment at September 30, 2016 . (h) This investment includes a cumulative guaranty of income from the hotel manager of $10.9 million which is recorded at the investee as a deferred income liability since the guaranty is subject to clawback. (i) This investment represents a preferred equity interest, with a preferred rate of return between 8% - 12% during 2015 and 12% during 2016 and thereafter until November 19, 2019, the date on which the preferred equity interest is redeemable. Aggregate distributions from our interests in unconsolidated real estate investments were $49.1 million and $31.0 million for the nine months ended September 30, 2016 and 2015 , respectively. At September 30, 2016 and December 31, 2015 , the unamortized basis differences on our equity investments were $22.3 million and $26.5 million , respectively.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2016
Intangible Assets And Liabilities [Abstract]
Intangible Assets and Liabilities	Intangible Assets and Liabilities In connection with our acquisitions of properties, we have recorded net lease intangibles that are being amortized over periods ranging from one year to 53 years. In addition, we have several ground lease intangibles that are being amortized over periods of up to 94 years. In-place lease intangibles and tenant relationship intangibles are included in In-place lease and tenant relationship intangible assets, net in the consolidated financial statements. Above-market rent, below-market ground lease (as lessee) intangibles, and goodwill are included in Other intangible assets, net in the consolidated financial statements. Below-market rent and above-market ground lease (as lessor) intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements. In connection with our investment activity during the nine months ended September 30, 2016 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 8.6 $ 17,229 Above-market rent 20.0 221 $ 17,450 Amortizable Intangible Liabilities Below-market rent 18.8 $ (3,329 ) Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease and tenant relationship $ 600,522 $ (166,673 ) $ 433,849 $ 588,858 $ (143,635 ) $ 445,223 Above-market rent 88,956 (24,103 ) 64,853 88,288 (20,405 ) 67,883 Below-market ground leases 12,311 (464 ) 11,847 12,184 (322 ) 11,862 701,789 (191,240 ) 510,549 689,330 (164,362 ) 524,968 Unamortizable Intangible Assets Goodwill 304 — 304 304 — 304 Total intangible assets $ 702,093 $ (191,240 ) $ 510,853 $ 689,634 $ (164,362 ) $ 525,272 Amortizable Intangible Liabilities Below-market rent $ (119,549 ) $ 28,268 $ (91,281 ) $ (116,952 ) $ 21,364 $ (95,588 ) Above-market ground lease (1,145 ) 41 (1,104 ) (1,145 ) 32 (1,113 ) Total intangible liabilities $ (120,694 ) $ 28,309 $ (92,385 ) $ (118,097 ) $ 21,396 $ (96,701 ) Net amortization of intangibles, including the effect of foreign currency translation, was $9.5 million for both the three months ended September 30, 2016 and 2015 , and $29.1 million and $28.5 million for the nine months ended September 30, 2016 and 2015 , respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; amortization of below-market ground lease and above-market ground lease intangibles is included in Property expenses; and amortization of in-place lease and tenant relationship intangibles is included in Depreciation and amortization.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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 and other derivative assets 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. Derivative Assets — Our derivative assets, which are included in Other assets, net in the consolidated financial statements, are comprised of interest rate caps, foreign currency forward contracts, stock warrants, foreign currency collars and a swaption ( Note 9 ). The interest rates caps, foreign currency forward contracts, foreign currency collars, and swaption were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. The stock warrants were measured at fair value using internal valuation models that incorporated market inputs and our own assumptions about future cash flows. We classified these assets as Level 3 because they 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 and foreign currency collars ( Note 9 ). 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. We did not have any transfers into or out of Level 1, Level 2, and Level 3 category of measurements during either the nine months ended September 30, 2016 or 2015 . Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): September 30, 2016 December 31, 2015 Level Carrying Value Fair Value Carrying Value Fair Value Non-recourse debt, net (a) (b) 3 $ 2,017,477 $ 2,069,921 $ 1,881,774 $ 1,937,459 CMBS (c) 3 4,006 8,194 2,765 8,739 ___________ (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 , for the amount of $12.5 million ( Note 2 ). The carrying value of Non-recourse debt, net includes unamortized deferred financing costs of $10.2 million and $12.5 million at September 30, 2016 and December 31, 2015 , respectively. (b) 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. (c) The carrying value of our CMBS is inclusive of impairment charges for the year ended December 31, 2015, as well as accretion related to the estimated cash flows expected to be received. During the nine months ended September 30, 2015 , we recorded impairment charges on our CMBS of $1.0 million . There were no purchases, sales, or impairment charges recognized during the three or nine months ended September 30, 2016 and the three months ended September 30, 2015. 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 September 30, 2016 and December 31, 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. 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 the asset for which we recorded an impairment charge that was measured at fair value on a non-recurring basis (in thousands): Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Impairment Charges Real estate $ 14,850 $ 29,183 $ — $ — $ 29,183 $ — Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Impairment Charges Real estate $ 14,850 $ 29,183 $ — $ — $ 29,183 $ — During both the three and nine months ended September 30, 2016 , we recognized an impairment charge of $29.2 million on one property in order to reduce the carrying value of the property to its estimated fair value. The fair value measurements for the property approximated its estimated selling price, less estimated costs to sell. We used available information, including third-party broker information and internal discounted cash flow models (Level 3 inputs), in determining the fair value of this property.

Risk Management and Use of Deri

Risk Management and Use of Derivative Financial Instruments	9 Months Ended
	Sep. 30, 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 assets and liabilities, including the Senior Credit Facility ( Note 10 ). 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 investments due to changes in interest rates or other market factors. We own investments in Europe 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 income (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 are reported in Other comprehensive income (loss) as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive income (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 Asset Derivatives Fair Value at Liability Derivatives Fair Value at Balance Sheet Location September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Foreign currency forward contracts Other assets, net $ 30,618 $ 41,850 $ — $ — Interest rate caps Other assets, net 40 — — — Foreign currency collars Other assets, net — 4 — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (11,029 ) (10,732 ) Foreign currency collars Accounts payable, accrued expenses and other liabilities — — (312 ) (109 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 1,848 1,782 — — Swaption Other assets, net 57 309 — — Total derivatives $ 32,563 $ 43,945 $ (11,341 ) $ (10,841 ) 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 September 30, 2016 and December 31, 2015 , no cash collateral had been posted or 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 Income (Loss) (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2016 2015 2016 2015 Foreign currency forward contracts $ (4,179 ) $ (978 ) $ (9,324 ) $ 15,626 Interest rate swaps 2,152 (2,110 ) (437 ) (43 ) Foreign currency collars (325 ) — (181 ) — Interest rate caps (37 ) — (37 ) — Derivatives in Net Investment Hedging Relationships (a) Foreign currency forward contracts (170 ) (20 ) (1,431 ) 366 Foreign currency collars (13 ) — (21 ) — Total $ (2,572 ) $ (3,108 ) $ (11,431 ) $ 15,949 Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Reclassified to Income Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Interest rate swaps Interest expense $ (1,869 ) $ (1,913 ) $ (5,492 ) $ (6,044 ) Foreign currency forward contracts Other income and (expenses) 2,172 2,296 5,850 6,662 Total $ 303 $ 383 $ 358 $ 618 __________ (a) 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 income (loss) until the underlying investment is sold, at which time we reclassify the gain or loss to earnings. Amounts reported in Other comprehensive income (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 income (loss) related to foreign currency derivative contracts will be reclassified to Other income and (expenses) when the hedged foreign currency contracts are settled. At September 30, 2016 , we estimated that an additional $2.3 million and $6.9 million will be reclassified as interest expense and as other expenses, respectively, during the next 12 months. The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) on Derivatives Recognized in Income Derivatives Not in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock warrants Other income and (expenses) $ 165 $ — $ 66 66 Swaption Other income and (expenses) (20 ) (212 ) (251 ) (177 ) Embedded credit derivatives Other income and (expenses) — (26 ) — 235 Foreign currency forward contracts Other income and (expenses) — — — (16 ) Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 147 61 243 233 Foreign currency collar (a) Other income and (expenses) (5 ) — (5 ) — Total $ 287 $ (177 ) $ 53 $ 341 __________ (a) Relates to the ineffective portion of the hedging relationship. See below for information regarding why we enter into our derivative instruments and concerning derivative instruments owned by unconsolidated investments, which are excluded from the tables above. Interest Rate Swaps, Caps and Swaptions 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 have obtained, and may in the future 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, interest rate cap agreements or swaptions 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 downward shifts in interest rates. A swaption gives us the right but not the obligation to enter into an interest rate swap, of which the terms and conditions are set on the trade date, on a specified date in the future. Our objective in using these derivatives is to limit our exposure to interest rate movements. The interest rate swaps, caps, and swaption that our consolidated subsidiaries had outstanding at September 30, 2016 are summarized as follows (currency in thousands): Interest Rate Derivatives Number of Instruments Notional Amount Fair Value at September 30, 2016 (a) Designated as Cash Flow Hedging Instruments Interest rate swaps 14 232,029 USD $ (9,787 ) Interest rate swaps 6 44,681 EUR (1,241 ) Interest rate cap 1 12,402 EUR 26 Interest rate cap 1 6,394 GBP 14 Not Designated as Hedging Instrument Swaption 1 13,230 USD 57 $ (10,931 ) __________ (a) Fair value amount is based on the exchange rate of the euro at September 30, 2016 , as applicable. The interest rate swap and interest rate cap that our unconsolidated jointly-owned investments had outstanding at September 30, 2016 , which were designated as cash flow hedges, are summarized as follows (currency in thousands): Interest Rate Derivative Ownership Interest in Investee at September 30, 2016 Number of Instruments Notional Amount Fair Value at September 30, 2016 (a) Interest rate swap 85% 1 10,653 EUR $ (570 ) Interest rate cap 49% 1 31,100 EUR $ 26 __________ (a) Fair value amount is based on the exchange rate of the euro at September 30, 2016 . Foreign Currency Contracts We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the British pound sterling, the Japanese yen, and the Norwegian krone. 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 78 months or less. The following table presents the foreign currency derivative contracts we had outstanding and their designations at September 30, 2016 (currency in thousands): Foreign Currency Derivatives Number of Instruments Notional Amount Fair Value at September 30, 2016 Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 65 129,596 EUR $ 28,172 Foreign currency zero-cost collars 2 15,100 EUR (278 ) Foreign currency forward contracts 14 10,104 NOK 107 Foreign currency zero-cost collars 3 2,000 NOK (15 ) Designated as Net Investment Hedging Instruments Foreign currency forward contracts 6 848,490 JPY 2,277 Foreign currency forward contracts 3 5,549 NOK 61 Foreign currency zero-cost collar 1 2,500 NOK (19 ) $ 30,305 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 September 30, 2016 . At September 30, 2016 , our total credit exposure was $47.3 million and the maximum exposure to any single counterparty was $19.7 million . Some of the agreements 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 September 30, 2016 , we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives that were in a net liability position was $12.0 million and $11.4 million at September 30, 2016 and December 31, 2015 , respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions at September 30, 2016 or December 31, 2015 , we could have been required to settle our obligations under these agreements at their aggregate termination value of $13.1 million and $11.9 million , respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Non-Recourse Debt, net At September 30, 2016 , our mortgage notes payable bore interest at fixed annual rates ranging from 1.9% to 10.9% and variable contractual annual rates ranging from 1.3% to 6.0% , with maturity dates ranging from October 2016 to 2031 . Financing Activity During 2016 During the nine months ended September 30, 2016 , we obtained five new non-recourse mortgage financings and completed two additional drawdowns on already existing mortgage financings totaling $122.2 million , net of debt discounts of $1.1 million , with a weighted-average annual interest rate of 1.1% and term of 6.0 years, of which $12.0 million related to an investment acquired during the current year and $110.2 million related to investments acquired during prior years. Additionally, in connection with the acquisition of the remaining 15% interest in a self-storage portfolio ( Note 4 ), we assumed the remaining 15% of the outstanding mortgage debt totaling $69.8 million , net of debt discounts of $1.2 million , with a weighted-average annual interest rate of 4.5% and term of 1.1 years. During the nine months ended September 30, 2016 , we defeased seven non-recourse mortgage loans with outstanding principal balances totaling $121.9 million and recognized losses on extinguishment of debt totaling $23.6 million . These mortgage loans had a weighted-average interest rate of 4.9% and a weighted-average remaining term to maturity of 5.7 years and encumbered a total of 52 self-storage properties, 34 of which were sold ( Note 13 ) and 18 of which were refinanced with new non-recourse mortgage loans totaling $65.9 million , net of discounts of $0.1 million . These loans have a weighted-average interest rate of 3.02% and weighted-average term to maturity of 4.8 years. Additionally, during both the three and nine months ended September 30, 2016 , we refinanced one non-recourse mortgage loan totaling $11.2 million with new non-recourse mortgage financing totaling $16.7 million , which has an annual interest rate of 1.9% and term of 4.8 years. Senior Credit Facility On August 26, 2015, we entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, and a syndicate of other lenders, which we refer to herein as the Credit Agreement. The Credit Agreement was amended on March 31, 2016 to clarify the Restricted Payments covenant (see below), no other terms were changed. The Credit Agreement provides for a $200.0 million senior unsecured revolving credit facility, or the Revolver, and a $50.0 million delayed-draw term loan facility, or the Term Loan. We refer to the Revolver and the Term Loan together as the Senior Credit Facility, which has a maximum aggregate principal amount of $250.0 million and, subject to lender approval, an accordion feature of $250.0 million . The Senior Credit Facility is scheduled to mature on August 26, 2018 , and may be extended by us for two 12-month periods. The Senior Credit Facility provides for an annual interest rate of either (i) the Eurocurrency Rate or (ii) the Base Rate, in each case plus the Applicable Rate (each as defined in the Credit Agreement). With respect to the Revolver, the Applicable Rate on Eurocurrency loans and letters of credit ranges from 1.50% to 2.25% (based on the London Interbank Offered Rate, or LIBOR) and the Applicable Rate on Base Rate loans ranges from 0.50% to 1.25% (as defined in the Credit Agreement), depending on our leverage ratio. With respect to the Term Loan, the Applicable Rate on Eurocurrency loans and letters of credit ranges from 1.45% to 2.20% (based on LIBOR) and the Applicable Rate on Base Rate loans ranges from 0.45% to 1.20% (as defined in the Credit Agreement), depending on our leverage ratio. In addition, we pay a fee of either 0.15% or 0.30% on the unused portion of the Senior Credit Facility. If usage of the Senior Credit Facility is equal to or greater than 50% of the Aggregate Commitments, the Unused Fee Rate will be 0.15% , and if usage of the Senior Credit Facility is less than 50% of the Aggregate Commitments, the Unused Fee Rate will be 0.30% . In connection with the transaction, we incurred costs of $1.9 million , which are being amortized to interest expense over the remaining term of the Senior Credit Facility. The following table presents a summary of our Senior Credit Facility (dollars in thousands): Interest Rate at September 30, 2016 Outstanding Balance at Senior Credit Facility September 30, 2016 December 31, 2015 Revolver: Revolver - borrowing in U.S. dollars —% $ — $ 112,834 Term Loan LIBOR + 1.55% 50,000 — $ 50,000 $ 112,834 On September 30, 2016, we exercised the delayed draw option on our Term Loan and borrowed $50.0 million . The Term Loan bears interest at LIBOR + 1.55% and is scheduled to mature on August 26, 2018 , unless extended pursuant to its terms. At September 30, 2016 , availability under the Senior Credit Facility was $200.0 million . The Revolver and Term Loan are used for our working capital needs and for new investments, as well as for general corporate purposes. We are required to ensure that the total Restricted Payments (as defined in the Amended Credit Agreement) in an aggregate amount in any fiscal year does not exceed the greater of 95% of MFFO and the amount of Restricted Payments required in order for us to (i) maintain our REIT status and (ii) avoid the payment of federal or state income or excise tax. Restricted Payments include quarterly dividends and the total amount of shares repurchased by us, if any, in excess of $100.0 million per year. In addition to placing limitations on dividend distributions and share repurchases, the Credit Agreement also stipulates certain customary financial covenants. We were in compliance with all such covenants at September 30, 2016 . Scheduled Debt Principal Payments Scheduled debt principal payments during the remainder of 2016 , each of the next four calendar years following December 31, 2016 , and thereafter through 2031 are as follows (in thousands): Years Ending December 31, Total 2016 (remainder) (a) $ 199,531 2017 418,793 2018 (b) 228,260 2019 33,579 2020 142,789 Thereafter through 2031 1,058,792 2,081,744 Deferred financing costs (c) (10,388 ) Unamortized discount, net (4,160 ) Total $ 2,067,196 __________ (a) Includes $180.6 million of debt that matured on September 28, 2016; however, we are in negotiations with the same lenders to refinance the outstanding debt, which is expected to occur before December 31, 2016. (b) Includes the $50.0 million Term Loan at September 30, 2016 under our Senior Credit Facility, which is scheduled to mature on August 26, 2018 , unless extended pursuant to its terms. (c) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net and the Senior Credit Facility, net as of December 31, 2015 ( Note 2 ). Certain amounts in the table above are based on the applicable foreign currency exchange rate at September 30, 2016 . The carrying value of our Non-recourse debt, net increased by $13.0 million in the aggregate from December 31, 2015 to September 30, 2016 due to the weakening of the U.S. dollar relative to foreign currencies, particularly the euro, partially offset by the strengthening of the U.S. dollar relative to the British pound sterling, during the same period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies At September 30, 2016 , we were not involved in any material litigation. 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. See Note 4 for unfunded construction commitments.

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	Equity Reclassifications Out of Accumulated Other Comprehensive Loss The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands): Three Months Ended September 30, 2016 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 20,595 $ (63 ) $ (156,633 ) $ (136,101 ) Other comprehensive income before reclassifications (2,089 ) 8 3,707 1,626 Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,869 — — 1,869 Other income and (expenses) (2,172 ) — — (2,172 ) Total (303 ) — — (303 ) Net current-period Other comprehensive income (2,392 ) 8 3,707 1,323 Net current-period Other comprehensive gain attributable to noncontrolling interests — — (108 ) (108 ) Ending balance $ 18,203 $ (55 ) $ (153,034 ) $ (134,886 ) Three Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 26,118 $ (92 ) $ (147,368 ) $ (121,342 ) Other comprehensive loss before reclassifications (2,759 ) 7 (1,100 ) (3,852 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,913 — — 1,913 Other income and (expenses) (2,296 ) — — (2,296 ) Total (383 ) — — (383 ) Net current-period Other comprehensive loss (3,142 ) 7 (1,100 ) (4,235 ) Net current-period Other comprehensive gain attributable to noncontrolling interests — — (103 ) (103 ) Ending balance $ 22,976 $ (85 ) $ (148,571 ) $ (125,680 ) Nine Months Ended September 30, 2016 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 28,200 $ (77 ) $ (167,928 ) $ (139,805 ) Other comprehensive income before reclassifications (9,639 ) 22 15,442 5,825 Amounts reclassified from accumulated other comprehensive loss to: Interest expense 5,492 — — 5,492 Other income and (expenses) (5,850 ) — — (5,850 ) Total (358 ) — — (358 ) Net current-period Other comprehensive income (9,997 ) 22 15,442 5,467 Net current-period Other comprehensive gain attributable to noncontrolling interests — — (548 ) (548 ) Ending balance $ 18,203 $ (55 ) $ (153,034 ) $ (134,886 ) Nine Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 7,311 $ (106 ) $ (88,212 ) $ (81,007 ) Other comprehensive loss before reclassifications 16,283 21 (60,990 ) (44,686 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 6,044 — — 6,044 Other income and (expenses) (6,662 ) — — (6,662 ) Total (618 ) — — (618 ) Net current-period Other comprehensive loss 15,665 21 (60,990 ) (45,304 ) Net current-period Other comprehensive loss attributable to noncontrolling interests — — 631 631 Ending balance $ 22,976 $ (85 ) $ (148,571 ) $ (125,680 ) Distributions Declared During the third quarter of 2016 , our board of directors declared a quarterly distribution of $0.1625 per share, which was paid on October 14, 2016 to stockholders of record on September 30, 2016 , in the aggregate amount of $55.7 million . During the nine months ended September 30, 2016 , our board of directors declared distributions in the aggregate amount of $166.2 million , which equates to $ 0.4875 per share.

Property Dispositions

Property Dispositions	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions	Property Dispositions 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 decide to dispose of a property due to vacancy, 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. Property Dispositions The results of operations for properties that have been sold or classified as held for sale are included in the consolidated financial statements and are summarized as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Revenues $ 6,964 $ 8,483 $ 21,562 $ 24,793 Expenses (5,714 ) (7,653 ) (18,746 ) (23,081 ) Gain on sale of real estate, net of tax 82,287 — 132,702 2,197 Impairment charges (29,183 ) — (29,183 ) — Loss on extinguishment of debt (8,218 ) — (15,807 ) — Income from properties sold or classified as held for sale, net of income taxes $ 46,136 $ 830 $ 90,528 $ 3,909 2016 — During the three months ended September 30, 2016 , we sold 22 self-storage properties for total proceeds of $151.3 million , net of closing costs, and recognized a gain on sale of $82.3 million . The proceeds from the sale were used to repay a non-recourse mortgage loan encumbering the properties with an outstanding principal balance of $41.8 million , and as a result, we recorded a loss on extinguishment of debt of $8.2 million . During the nine months ended September 30, 2016 , we sold 34 self-storage properties for total proceeds of $259.1 million , net of closing costs and recognized a gain on the sale of these assets of $132.7 million in the aggregate. Proceeds from the sales were used to repay non-recourse mortgage loans encumbering the properties with outstanding principal balances aggregating $84.7 million , and as a result, we recorded a loss on extinguishment of debt of $15.8 million . During the three months ended September 30, 2016 , we entered into an agreement with a tenant that occupies the majority of the square footage in a domestic office building to terminate their lease contingent upon selling the property to a third party. At September 30, 2016 , the land and building related to this property were classified as held for sale as the sale is considered probable of closing, and an impairment of $29.2 million was recognized during each of the three and nine months ended September 30, 2016 ( Note 4 , Note 8 ) related to the carrying value of the land and building. 2015 — In connection with the partial sale of our investment in I Shops LLC in 2014, we deferred 15% of the gain due to our then-existing purchase option to acquire a 15% equity interest in the parent company that owns I Shops LLC. Upon expiration of the purchase option on January 31, 2015, we recognized the previously deferred gain of $2.2 million during the nine months ended September 30, 2015 .

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We operate in two reportable business segments: Net Lease and Self-Storage. Our Net Lease segment includes our domestic and foreign investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self-Storage segment is comprised of our investments in self-storage properties. In addition, we have our investments in loans receivable, CMBS, one hotel, and other properties, which are included in our All Other category. The following tables present a summary of comparative results and assets for these business segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net Lease Revenues $ 98,243 $ 92,081 $ 286,214 $ 271,705 Operating expenses (a) (68,453 ) (33,831 ) (139,970 ) (100,733 ) Interest expense (22,302 ) (21,762 ) (66,583 ) (63,561 ) Other income and expenses, excluding interest expense 3,592 2,292 9,324 9,365 Provision for income taxes (590 ) (1,038 ) (2,570 ) (2,584 ) Gain on sale of real estate, net of tax — — — 2,197 Net income attributable to noncontrolling interests (3,551 ) (3,310 ) (10,601 ) (11,655 ) Net income attributable to CPA ® :17 – Global $ 6,939 $ 34,432 $ 75,814 $ 104,734 Self-Storage Revenues $ 10,135 $ 11,898 $ 35,213 $ 34,380 Operating expenses (7,717 ) (8,002 ) (28,632 ) (24,049 ) Interest expense (2,211 ) (1,927 ) (6,746 ) (5,729 ) Other income and expenses, excluding interest expense (b) (15,991 ) (403 ) 25,905 (1,428 ) Provision for income taxes (16 ) (46 ) (133 ) (153 ) Gain on sale of real estate, net of tax 82,287 — 132,702 — Net income attributable to CPA ® :17 – Global $ 66,487 $ 1,520 $ 158,309 $ 3,021 All Other Revenues $ 1,698 $ 4,219 $ 5,060 $ 10,530 Operating expenses (29 ) (38 ) (81 ) (1,682 ) Interest expense — (47 ) (6 ) 446 Other income and expenses, excluding interest expense (603 ) (3,327 ) (2,999 ) (1,138 ) Provision for income taxes (1,442 ) (480 ) (3,373 ) (1,278 ) Gain on sale of real estate, net of tax — — — — Net (loss) income attributable to CPA ® :17 – Global $ (376 ) $ 327 $ (1,399 ) $ 6,878 Corporate Unallocated Corporate Overhead (c) $ (9,556 ) $ (10,390 ) $ (29,422 ) $ (33,872 ) Net income attributable to noncontrolling interests – Available Cash Distributions $ (5,276 ) $ (5,837 ) $ (17,803 ) $ (17,690 ) Total Company Revenues $ 110,076 $ 108,202 $ 326,487 $ 316,620 Operating expenses (a) (87,442 ) (54,253 ) (203,684 ) (162,156 ) Interest expense (25,048 ) (24,104 ) (75,027 ) (69,346 ) Other income and expenses, excluding interest expense (b) (10,495 ) 1,030 39,955 9,542 Provision for income taxes (2,333 ) (1,676 ) (6,530 ) (4,441 ) Gain on sale of real estate, net of tax 82,287 — 132,702 2,197 Net income attributable to noncontrolling interests (8,827 ) (9,147 ) (28,404 ) (29,345 ) Net income attributable to CPA ® :17 – Global $ 58,218 $ 20,052 $ 185,499 $ 63,071 Total Long-Lived Assets at (d) Total Assets at September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Net Lease (e) $ 3,190,781 $ 3,169,885 $ 3,864,659 $ 3,956,239 Self-Storage 241,662 261,273 255,441 269,081 All Other 243,348 257,844 293,380 309,288 Corporate — — 349,407 78,582 Total Company $ 3,675,791 $ 3,689,002 $ 4,762,887 $ 4,613,190 ___________ (a) Includes an impairment charge of $29.2 million recognized on one property for both the three and nine months ended September 30, 2016 ( Note 8 ). (b) Includes a Gain on change in control of interests of $49.9 million for the nine months ended September 30, 2016 ( Note 4 ). (c) Included in unallocated corporate overhead are asset management fees, and general and administrative expenses, as well as interest expense and other charges related to our Senior Credit Facility. These expenses are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance. (d) Includes Net investments in real estate and Equity investments in real estate. (e) Includes one property classified as Assets held for sale as of September 30, 2016 ( Note 4 , Note 13 ).

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States, or GAAP.
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.
Recently Adopted Accounting Policy	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 part of this change in guidance, we determined that 15 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 a result of the new guidance. We elected to retrospectively adopt ASU 2015-02, which resulted in changes to our VIE disclosures within the consolidated balance sheets. 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 September 30, 2016 , we considered 29 entities VIEs, 14 of which we consolidated as we are considered the primary beneficiary and two of which we accounted for as loans receivable. The following table presents a summary of selected financial data of the consolidated VIEs, included in the consolidated balance sheets (in thousands): September 30, 2016 December 31, 2015 Net investments in properties $ 446,920 $ 309,030 Net investments in direct financing leases 316,213 303,112 In-place lease and tenant relationship intangible assets, net 26,302 20,269 Other assets, net 72,359 66,654 Total assets 867,780 705,535 Non-recourse debt, net $ 335,584 $ 262,830 Accounts payable, accrued expenses and other liabilities 19,040 15,662 Deferred income taxes 14,024 10,675 Total liabilities 369,350 289,889 At September 30, 2016 and December 31, 2015 we had 13 and 14 unconsolidated VIEs, respectively, 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 but does not give us power over decisions that significantly affect the economic performance of these entities. As of September 30, 2016 and December 31, 2015 , the carrying amount of our investments in these entities was $396.6 million , and $432.6 million , respectively, and our maximum exposure to loss in these entities was limited to our investments in the entities. At September 30, 2016 , we had an investment in a tenancy-in-common interest in various 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. 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 September 30, 2016 , none of our equity investments had carrying values below zero. 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 $12.8 million of deferred financing costs, net from Other assets, net to Non-recourse debt, net and Senior Credit Facility, net as of December 31, 2015.
Recent Accounting Pronouncements	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, but will apply to reimbursed tenant costs and revenues generated from our operating properties. Additionally, this guidance modifies disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all entities by one year, beginning in 2018, with early adoption permitted but not before 2017, the original public company effective date. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard. 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 or substantive participating rights over the managing member or general partner. 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 September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). ASU 2015-16 eliminates the requirement that an acquirer in a business combination account for measurement period adjustments retrospectively. Instead, an acquirer will recognize a measurement period adjustment during the period in which it determines the amount of the adjustment, including the effect on earnings of any amounts it would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, early adoption is permitted and prospective application is required for adjustments that are identified after the effective date of this update. We elected to early adopt ASU 2015-16 and implemented the standard prospectively beginning July 1, 2015. The adoption and implementation of the standard did not have a material impact on our consolidated financial statements. 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. 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 June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses. ASU 2016-13 introduces a new model for estimating 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. We are in the process of evaluating the impact of adopting ASU 2016-17 on our consolidated financial statements.
Equity Method Investments	We own equity interests in 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 and, where applicable, based upon an allocation of the investment’s net assets at book value as if the investment were hypothetically liquidated at the end of each reporting period.
Intangible Assets and Liabilities	In connection with our acquisitions of properties, we have recorded net lease intangibles that are being amortized over periods ranging from one year to 53 years. In addition, we have several ground lease intangibles that are being amortized over periods of up to 94 years. In-place lease intangibles and tenant relationship intangibles are included in In-place lease and tenant relationship intangible assets, net in the consolidated financial statements. Above-market rent, below-market ground lease (as lessee) intangibles, and goodwill are included in Other intangible assets, net in the consolidated financial statements. Below-market rent and above-market ground lease (as lessor) intangibles are included in Below-market rent and other intangible liabilities, net in the consolidated financial statements. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; amortization of below-market ground lease and above-market ground lease intangibles is included in Property expenses; and amortization of in-place lease and tenant relationship intangibles is included in Depreciation and amortization.
Fair Value of Financial Instruments	Derivative Assets — Our derivative assets, which are included in Other assets, net in the consolidated financial statements, are comprised of interest rate caps, foreign currency forward contracts, stock warrants, foreign currency collars and a swaption ( Note 9 ). The interest rates caps, foreign currency forward contracts, foreign currency collars, and swaption were measured at fair value using readily observable market inputs, such as quotations on interest rates, and were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. The stock warrants were measured at fair value using internal valuation models that incorporated market inputs and our own assumptions about future cash flows. We classified these assets as Level 3 because they 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 and foreign currency collars ( Note 9 ). 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. 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 and other derivative assets 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.
Derivatives	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 income (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 are reported in Other comprehensive income (loss) as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive income (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.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [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): September 30, 2016 December 31, 2015 Net investments in properties $ 446,920 $ 309,030 Net investments in direct financing leases 316,213 303,112 In-place lease and tenant relationship intangible assets, net 26,302 20,269 Other assets, net 72,359 66,654 Total assets 867,780 705,535 Non-recourse debt, net $ 335,584 $ 262,830 Accounts payable, accrued expenses and other liabilities 19,040 15,662 Deferred income taxes 14,024 10,675 Total liabilities 369,350 289,889

Agreements and Transactions w26

Agreements and Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the relevant agreements (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Amounts Included in the Consolidated Statements of Income Asset management fees $ 7,489 $ 7,422 $ 22,456 $ 21,864 Available Cash Distributions 5,276 5,837 17,803 17,690 Personnel and overhead reimbursements 2,293 3,086 7,318 9,238 Acquisition expenses 1,403 — 2,844 430 Interest expense on deferred acquisition fees and loan from affiliate 47 113 176 246 $ 16,508 $ 16,458 $ 50,597 $ 49,468 Acquisition Fees Capitalized Personnel and overhead reimbursements $ 108 $ — $ 221 $ — Current acquisition fees (a) — 563 550 5,500 Deferred acquisition fees (a) — 450 440 4,182 $ 108 $ 1,013 $ 1,211 $ 9,682 __________ (a) During the nine months ended September 30, 2016 , non-cash investing activities were comprised of $0.2 million of current acquisition fees payable and $0.4 million of deferred acquisition fees payable. During the nine months ended September 30, 2015 , non-cash investing activities were comprised of $1.5 million of deferred acquisition fees payable. The following table presents a summary of amounts included in Due to affiliates in the consolidated financial statements (in thousands): September 30, 2016 December 31, 2015 Due to Affiliates Deferred acquisition fees, including interest $ 4,436 $ 6,134 Asset management fees payable 2,446 2,497 Reimbursable costs 2,187 3,150 Current acquisition fees 245 1,847 Accounts payable 75 6 $ 9,389 $ 13,634

Net Investments in Properties27

Net Investments in Properties and Real Estate Under Construction (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Schedule of Real Estate Properties	Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Land $ 565,927 $ 560,257 Buildings and improvements 2,135,259 2,098,620 Less: Accumulated depreciation (271,602 ) (225,867 ) $ 2,429,584 $ 2,433,010 Operating real estate, which consists of our domestic self-storage operations, at cost, is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Land $ 55,688 $ 66,066 Buildings and improvements 203,185 209,455 Less: Accumulated depreciation (17,211 ) (30,308 ) $ 241,662 $ 245,213
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following tables present a summary of assets acquired and liabilities assumed, and revenues and earnings thereon since the respective date of acquisition through September 30, 2016 (in thousands): Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC Cash consideration $ 11,363 Assets acquired at fair value: Land (a) $ 26,941 Buildings (a) 109,399 In-place lease intangible assets (a) 9,783 Other assets acquired 1,705 147,828 Liabilities assumed at fair value: Non-recourse debt, net (70,578 ) Other liabilities assumed (831 ) (71,409 ) Total identifiable net assets 76,419 Gain on change in control of interests (49,922 ) Carrying value of previously held equity investment (15,134 ) $ 11,363 (a) The purchase price for this transaction was allocated to the assets acquired and liabilities assumed based upon its preliminary fair value. The information in this table is based on the best estimates of management as of the date of this Report. We are in the process of finalizing our assessment of the fair value of the assets acquired and liabilities assumed. Accordingly, the fair value of the assets acquired and liabilities assumed are subject to change.
Schedule Of Revenues and Net Income	(b) Includes a $49.9 million gain on change in control of interests. (c) Includes equity in earnings of equity method investments in real estate of $0.4 million . Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC April 11, 2016 through September 30, 2016 Revenues $ 5,159 Net income (b) (c) $ 42,891 Net income attributable to CPA ® :17 – Global (b) (c) $ 42,891
Business Acquisition, Pro Forma Information	The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisition actually occurred on January 1, 2015, nor does it purport to represent the results of operations for future periods (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Pro forma total revenues $ 110,076 $ 110,919 $ 329,100 $ 324,361 Pro forma net income (a) $ 68,347 $ 28,023 $ 167,667 $ 135,062 Pro forma net income attributable to noncontrolling interests (8,827 ) (9,147 ) (28,405 ) (29,345 ) Pro forma net income attributable to CPA ® :17 – Global $ 59,520 $ 18,876 $ 139,262 $ 105,717 Pro forma basic and diluted weighted-average shares outstanding 343,209,362 335,668,313 341,325,683 333,523,528 Pro-forma basic and diluted income per share $ 0.17 $ 0.06 $ 0.41 $ 0.32 ___________ (a) Pro forma net income for the nine months ended September 30, 2015 includes a gain on change in control of interests of $49.9 million and transaction costs of $3.7 million as if they were recognized on January 1, 2015.
Schedule of Real Estate Under Construction	The following table provides the activity of our Real estate under construction (in thousands): Nine Months Ended September 30, 2016 Beginning balance $ 1,068 Capitalized funds 12,360 Placed into service (11,840 ) Foreign currency translation adjustments (10 ) Ending balance $ 1,578
Schedule of Assets Held for Sale	Below is a summary of our properties held for sale (in thousands): September 30, 2016 December 31, 2015 Real estate, net $ 14,850 $ — Assets held for sale $ 14,850 $ —

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Schedule of Financing Receivable Credit Quality Indicators	A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands): Number of Tenants / Obligors at Carrying Value at Internal Credit Quality Indicator September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 1 — — $ — $ — 2 2 1 61,730 2,264 3 10 10 427,328 429,212 4 5 4 65,797 108,132 5 — — — — $ 554,855 $ 539,608

Equity Investments in Real Es29

Equity Investments in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following table presents Equity in earnings in equity method investments in real estate, which represents our proportionate share of the income or losses of these investments, as well as amortization of basis differences related to purchase accounting adjustments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Equity Earnings from Equity Investments: Net Lease $ 4,056 $ 4,080 $ 12,369 $ 11,947 Self-Storage — (364 ) (394 ) (1,311 ) All Other (174 ) (3,663 ) (2,035 ) (1,755 ) 3,882 53 9,940 8,881 Amortization of Basis Differences on Equity Investments: Net Lease (667 ) (821 ) (2,307 ) (1,447 ) Self-Storage — (39 ) (39 ) (116 ) All Other (435 ) (271 ) (1,062 ) (693 ) (1,102 ) (1,131 ) (3,408 ) (2,256 ) Equity in earnings (losses) of equity method investments in real estate $ 2,780 $ (1,078 ) $ 6,532 $ 6,625 The following table sets forth our ownership interests in our equity investments in real estate and their respective carrying values, along with funding to developers for the acquisition, development, and construction of real estate, or ADC Arrangements, that are recorded as equity investments (dollars in thousands): Carrying Value at Lessee/Equity Investee Co-owner Ownership Interest September 30, 2016 December 31, 2015 Net Lease: C1000 Logistiek Vastgoed B.V. (a) (b) WPC 85% $ 58,056 $ 59,629 U-Haul Moving Partners, Inc. and Mercury Partners, LP (c) WPC 12% 38,030 39,309 Bank Pekao S.A. (a) (c) CPA ® :18 – Global 50% 24,730 25,785 BPS Nevada, LLC (c) (d) Third Party 15% 22,728 22,007 State Farm (c) CPA ® :18 – Global 50% 17,638 18,587 Apply Sørco AS (a) CPA ® :18 – Global 49% 15,660 15,170 Berry Plastics Corporation (c) WPC 50% 15,179 16,094 Tesco plc (a) (c) (e) WPC 49% 11,734 11,849 Hellweg Die Prof-Baumärkte GmbH & Co. KG (referred to as Hellweg 2) (a) (c) WPC 37% 11,460 12,212 Agrokor d.d. (referred to as Agrokor 5) (a) (c) CPA ® :18 – Global 20% 7,382 7,858 Eroski Sociedad Cooperativa – Mallorca (a) WPC 30% 7,008 6,790 Dick’s Sporting Goods, Inc. (c) WPC 45% 4,388 5,055 233,993 240,345 Self-Storage: Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC (c) (f) Third Party N/A — 16,060 — 16,060 All Other: Shelborne Property Associates, LLC (c) (d) (g) (h) Third Party 33% 141,038 148,121 BG LLH, LLC (c) (d) Third Party 7% 36,942 37,720 IDL Wheel Tenant, LLC (c) (d) (g) Third Party N/A 37,925 44,387 BPS Nevada, LLC - Preferred Equity (c) (i) Third Party N/A 27,464 27,514 243,369 257,742 $ 477,362 $ 514,147 __________ (a) The carrying value of this investment is affected by the impact of fluctuations in the exchange rate of the applicable foreign currency. (b) This investment represents a tenancy-in-common interest, whereby the property is encumbered by debt for which we are jointly and severally liable. The co-obligor is WPC and the amount due under the arrangement was approximately $72.8 million at September 30, 2016 . Of this amount, $61.8 million represents the amount we agreed to pay and is included within the carrying value of this investment at September 30, 2016 . (c) This investment is a VIE. (d) This investment is reported using the hypothetical liquidation at book value model. (e) On July 29, 2016, this investment refinanced a non-recourse mortgage loan that had an outstanding balance of $33.8 million with new financing of $34.6 million , of which our proportionate share was $17.0 million . The previous loan had an interest rate of 5.9% and a maturity date of July 31, 2016, while the new loan has an interest rate of Euro Interbank Offered Rate, or EURIBOR, plus a margin of 3.3% and a term of five years. (f) At December 31, 2015, the carrying value of this investment included our 45% equity interest as well as a 40% indirect economic interest. On April 11, 2016, we acquired the remaining 15% controlling interest in these entities and, as a result, now have 100% of the economic interest and consolidate this investment as of September 30, 2016 ( Note 4 ). (g) Represents a domestic ADC Arrangement. There was no unfunded balance on the loan related to this investment at September 30, 2016 . (h) This investment includes a cumulative guaranty of income from the hotel manager of $10.9 million which is recorded at the investee as a deferred income liability since the guaranty is subject to clawback. (i) This investment represents a preferred equity interest, with a preferred rate of return between 8% - 12% during 2015 and 12% during 2016 and thereafter until November 19, 2019, the date on which the preferred equity interest is redeemable.

Intangible Assets and Liabili30

Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Intangible Assets And Liabilities [Abstract]
Schedule Of Acquired Intangible Assets Liabilities By Major Class	In connection with our investment activity during the nine months ended September 30, 2016 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 8.6 $ 17,229 Above-market rent 20.0 221 $ 17,450 Amortizable Intangible Liabilities Below-market rent 18.8 $ (3,329 )
Schedule Of Intangible Assets and Liabilities	Intangible assets, intangible liabilities, and goodwill are summarized as follows (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease and tenant relationship $ 600,522 $ (166,673 ) $ 433,849 $ 588,858 $ (143,635 ) $ 445,223 Above-market rent 88,956 (24,103 ) 64,853 88,288 (20,405 ) 67,883 Below-market ground leases 12,311 (464 ) 11,847 12,184 (322 ) 11,862 701,789 (191,240 ) 510,549 689,330 (164,362 ) 524,968 Unamortizable Intangible Assets Goodwill 304 — 304 304 — 304 Total intangible assets $ 702,093 $ (191,240 ) $ 510,853 $ 689,634 $ (164,362 ) $ 525,272 Amortizable Intangible Liabilities Below-market rent $ (119,549 ) $ 28,268 $ (91,281 ) $ (116,952 ) $ 21,364 $ (95,588 ) Above-market ground lease (1,145 ) 41 (1,104 ) (1,145 ) 32 (1,113 ) Total intangible liabilities $ (120,694 ) $ 28,309 $ (92,385 ) $ (118,097 ) $ 21,396 $ (96,701 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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): September 30, 2016 December 31, 2015 Level Carrying Value Fair Value Carrying Value Fair Value Non-recourse debt, net (a) (b) 3 $ 2,017,477 $ 2,069,921 $ 1,881,774 $ 1,937,459 CMBS (c) 3 4,006 8,194 2,765 8,739 ___________ (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 , for the amount of $12.5 million ( Note 2 ). The carrying value of Non-recourse debt, net includes unamortized deferred financing costs of $10.2 million and $12.5 million at September 30, 2016 and December 31, 2015 , respectively. (b) 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. (c) The carrying value of our CMBS is inclusive of impairment charges for the year ended December 31, 2015, as well as accretion related to the estimated cash flows expected to be received. During the nine months ended September 30, 2015 , we recorded impairment charges on our CMBS of $1.0 million . There were no purchases, sales, or impairment charges recognized during the three or nine months ended September 30, 2016 and the three months ended September 30, 2015.
Schedule Of Fair Value Impairment Charges Using Unobservable Inputs Nonrecurring Basis	The following table presents information about the asset for which we recorded an impairment charge that was measured at fair value on a non-recurring basis (in thousands): Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Impairment Charges Real estate $ 14,850 $ 29,183 $ — $ — $ 29,183 $ — Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 Fair Value Measurements Total Impairment Charges Fair Value Total Impairment Impairment Charges Real estate $ 14,850 $ 29,183 $ — $ — $ 29,183 $ —

Risk Management and Use of De32

Risk Management and Use of Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 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 Asset Derivatives Fair Value at Liability Derivatives Fair Value at Balance Sheet Location September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Foreign currency forward contracts Other assets, net $ 30,618 $ 41,850 $ — $ — Interest rate caps Other assets, net 40 — — — Foreign currency collars Other assets, net — 4 — — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (11,029 ) (10,732 ) Foreign currency collars Accounts payable, accrued expenses and other liabilities — — (312 ) (109 ) Derivatives Not Designated as Hedging Instruments Stock warrants Other assets, net 1,848 1,782 — — Swaption Other assets, net 57 309 — — Total derivatives $ 32,563 $ 43,945 $ (11,341 ) $ (10,841 )
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 Income (Loss) (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2016 2015 2016 2015 Foreign currency forward contracts $ (4,179 ) $ (978 ) $ (9,324 ) $ 15,626 Interest rate swaps 2,152 (2,110 ) (437 ) (43 ) Foreign currency collars (325 ) — (181 ) — Interest rate caps (37 ) — (37 ) — Derivatives in Net Investment Hedging Relationships (a) Foreign currency forward contracts (170 ) (20 ) (1,431 ) 366 Foreign currency collars (13 ) — (21 ) — Total $ (2,572 ) $ (3,108 ) $ (11,431 ) $ 15,949 Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Reclassified to Income Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Interest rate swaps Interest expense $ (1,869 ) $ (1,913 ) $ (5,492 ) $ (6,044 ) Foreign currency forward contracts Other income and (expenses) 2,172 2,296 5,850 6,662 Total $ 303 $ 383 $ 358 $ 618 __________ (a) 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 income (loss) until the underlying investment is sold, at which time we reclassify the gain or loss to earnings.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) on Derivatives Recognized in Income Derivatives Not in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock warrants Other income and (expenses) $ 165 $ — $ 66 66 Swaption Other income and (expenses) (20 ) (212 ) (251 ) (177 ) Embedded credit derivatives Other income and (expenses) — (26 ) — 235 Foreign currency forward contracts Other income and (expenses) — — — (16 ) Derivatives in Cash Flow Hedging Relationships Interest rate swaps (a) Interest expense 147 61 243 233 Foreign currency collar (a) Other income and (expenses) (5 ) — (5 ) — Total $ 287 $ (177 ) $ 53 $ 341 __________ (a) Relates to the ineffective portion of the hedging relationship.
Schedule of Derivative Instruments	The interest rate swaps, caps, and swaption that our consolidated subsidiaries had outstanding at September 30, 2016 are summarized as follows (currency in thousands): Interest Rate Derivatives Number of Instruments Notional Amount Fair Value at September 30, 2016 (a) Designated as Cash Flow Hedging Instruments Interest rate swaps 14 232,029 USD $ (9,787 ) Interest rate swaps 6 44,681 EUR (1,241 ) Interest rate cap 1 12,402 EUR 26 Interest rate cap 1 6,394 GBP 14 Not Designated as Hedging Instrument Swaption 1 13,230 USD 57 $ (10,931 ) __________ (a) Fair value amount is based on the exchange rate of the euro at September 30, 2016 , as applicable. The interest rate swap and interest rate cap that our unconsolidated jointly-owned investments had outstanding at September 30, 2016 , which were designated as cash flow hedges, are summarized as follows (currency in thousands): Interest Rate Derivative Ownership Interest in Investee at September 30, 2016 Number of Instruments Notional Amount Fair Value at September 30, 2016 (a) Interest rate swap 85% 1 10,653 EUR $ (570 ) Interest rate cap 49% 1 31,100 EUR $ 26 __________ (a) Fair value amount is based on the exchange rate of the euro at September 30, 2016 . The following table presents the foreign currency derivative contracts we had outstanding and their designations at September 30, 2016 (currency in thousands): Foreign Currency Derivatives Number of Instruments Notional Amount Fair Value at September 30, 2016 Designated as Cash Flow Hedging Instruments Foreign currency forward contracts 65 129,596 EUR $ 28,172 Foreign currency zero-cost collars 2 15,100 EUR (278 ) Foreign currency forward contracts 14 10,104 NOK 107 Foreign currency zero-cost collars 3 2,000 NOK (15 ) Designated as Net Investment Hedging Instruments Foreign currency forward contracts 6 848,490 JPY 2,277 Foreign currency forward contracts 3 5,549 NOK 61 Foreign currency zero-cost collar 1 2,500 NOK (19 ) $ 30,305

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following table presents a summary of our Senior Credit Facility (dollars in thousands): Interest Rate at September 30, 2016 Outstanding Balance at Senior Credit Facility September 30, 2016 December 31, 2015 Revolver: Revolver - borrowing in U.S. dollars —% $ — $ 112,834 Term Loan LIBOR + 1.55% 50,000 — $ 50,000 $ 112,834
Schedule of Debt	Scheduled debt principal payments during the remainder of 2016 , each of the next four calendar years following December 31, 2016 , and thereafter through 2031 are as follows (in thousands): Years Ending December 31, Total 2016 (remainder) (a) $ 199,531 2017 418,793 2018 (b) 228,260 2019 33,579 2020 142,789 Thereafter through 2031 1,058,792 2,081,744 Deferred financing costs (c) (10,388 ) Unamortized discount, net (4,160 ) Total $ 2,067,196 __________ (a) Includes $180.6 million of debt that matured on September 28, 2016; however, we are in negotiations with the same lenders to refinance the outstanding debt, which is expected to occur before December 31, 2016. (b) Includes the $50.0 million Term Loan at September 30, 2016 under our Senior Credit Facility, which is scheduled to mature on August 26, 2018 , unless extended pursuant to its terms. (c) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net and the Senior Credit Facility, net as of December 31, 2015 ( Note 2 ).

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands): Three Months Ended September 30, 2016 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 20,595 $ (63 ) $ (156,633 ) $ (136,101 ) Other comprehensive income before reclassifications (2,089 ) 8 3,707 1,626 Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,869 — — 1,869 Other income and (expenses) (2,172 ) — — (2,172 ) Total (303 ) — — (303 ) Net current-period Other comprehensive income (2,392 ) 8 3,707 1,323 Net current-period Other comprehensive gain attributable to noncontrolling interests — — (108 ) (108 ) Ending balance $ 18,203 $ (55 ) $ (153,034 ) $ (134,886 ) Three Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 26,118 $ (92 ) $ (147,368 ) $ (121,342 ) Other comprehensive loss before reclassifications (2,759 ) 7 (1,100 ) (3,852 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,913 — — 1,913 Other income and (expenses) (2,296 ) — — (2,296 ) Total (383 ) — — (383 ) Net current-period Other comprehensive loss (3,142 ) 7 (1,100 ) (4,235 ) Net current-period Other comprehensive gain attributable to noncontrolling interests — — (103 ) (103 ) Ending balance $ 22,976 $ (85 ) $ (148,571 ) $ (125,680 ) Nine Months Ended September 30, 2016 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 28,200 $ (77 ) $ (167,928 ) $ (139,805 ) Other comprehensive income before reclassifications (9,639 ) 22 15,442 5,825 Amounts reclassified from accumulated other comprehensive loss to: Interest expense 5,492 — — 5,492 Other income and (expenses) (5,850 ) — — (5,850 ) Total (358 ) — — (358 ) Net current-period Other comprehensive income (9,997 ) 22 15,442 5,467 Net current-period Other comprehensive gain attributable to noncontrolling interests — — (548 ) (548 ) Ending balance $ 18,203 $ (55 ) $ (153,034 ) $ (134,886 ) Nine Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Gains and Losses on Marketable Securities Foreign Currency Translation Adjustments Total Beginning balance $ 7,311 $ (106 ) $ (88,212 ) $ (81,007 ) Other comprehensive loss before reclassifications 16,283 21 (60,990 ) (44,686 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 6,044 — — 6,044 Other income and (expenses) (6,662 ) — — (6,662 ) Total (618 ) — — (618 ) Net current-period Other comprehensive loss 15,665 21 (60,990 ) (45,304 ) Net current-period Other comprehensive loss attributable to noncontrolling interests — — 631 631 Ending balance $ 22,976 $ (85 ) $ (148,571 ) $ (125,680 )

Property Dispositions (Tables)

Property Dispositions (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The results of operations for properties that have been sold or classified as held for sale are included in the consolidated financial statements and are summarized as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Revenues $ 6,964 $ 8,483 $ 21,562 $ 24,793 Expenses (5,714 ) (7,653 ) (18,746 ) (23,081 ) Gain on sale of real estate, net of tax 82,287 — 132,702 2,197 Impairment charges (29,183 ) — (29,183 ) — Loss on extinguishment of debt (8,218 ) — (15,807 ) — Income from properties sold or classified as held for sale, net of income taxes $ 46,136 $ 830 $ 90,528 $ 3,909

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables present a summary of comparative results and assets for these business segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net Lease Revenues $ 98,243 $ 92,081 $ 286,214 $ 271,705 Operating expenses (a) (68,453 ) (33,831 ) (139,970 ) (100,733 ) Interest expense (22,302 ) (21,762 ) (66,583 ) (63,561 ) Other income and expenses, excluding interest expense 3,592 2,292 9,324 9,365 Provision for income taxes (590 ) (1,038 ) (2,570 ) (2,584 ) Gain on sale of real estate, net of tax — — — 2,197 Net income attributable to noncontrolling interests (3,551 ) (3,310 ) (10,601 ) (11,655 ) Net income attributable to CPA ® :17 – Global $ 6,939 $ 34,432 $ 75,814 $ 104,734 Self-Storage Revenues $ 10,135 $ 11,898 $ 35,213 $ 34,380 Operating expenses (7,717 ) (8,002 ) (28,632 ) (24,049 ) Interest expense (2,211 ) (1,927 ) (6,746 ) (5,729 ) Other income and expenses, excluding interest expense (b) (15,991 ) (403 ) 25,905 (1,428 ) Provision for income taxes (16 ) (46 ) (133 ) (153 ) Gain on sale of real estate, net of tax 82,287 — 132,702 — Net income attributable to CPA ® :17 – Global $ 66,487 $ 1,520 $ 158,309 $ 3,021 All Other Revenues $ 1,698 $ 4,219 $ 5,060 $ 10,530 Operating expenses (29 ) (38 ) (81 ) (1,682 ) Interest expense — (47 ) (6 ) 446 Other income and expenses, excluding interest expense (603 ) (3,327 ) (2,999 ) (1,138 ) Provision for income taxes (1,442 ) (480 ) (3,373 ) (1,278 ) Gain on sale of real estate, net of tax — — — — Net (loss) income attributable to CPA ® :17 – Global $ (376 ) $ 327 $ (1,399 ) $ 6,878 Corporate Unallocated Corporate Overhead (c) $ (9,556 ) $ (10,390 ) $ (29,422 ) $ (33,872 ) Net income attributable to noncontrolling interests – Available Cash Distributions $ (5,276 ) $ (5,837 ) $ (17,803 ) $ (17,690 ) Total Company Revenues $ 110,076 $ 108,202 $ 326,487 $ 316,620 Operating expenses (a) (87,442 ) (54,253 ) (203,684 ) (162,156 ) Interest expense (25,048 ) (24,104 ) (75,027 ) (69,346 ) Other income and expenses, excluding interest expense (b) (10,495 ) 1,030 39,955 9,542 Provision for income taxes (2,333 ) (1,676 ) (6,530 ) (4,441 ) Gain on sale of real estate, net of tax 82,287 — 132,702 2,197 Net income attributable to noncontrolling interests (8,827 ) (9,147 ) (28,404 ) (29,345 ) Net income attributable to CPA ® :17 – Global $ 58,218 $ 20,052 $ 185,499 $ 63,071 (a) Includes an impairment charge of $29.2 million recognized on one property for both the three and nine months ended September 30, 2016 ( Note 8 ). (b) Includes a Gain on change in control of interests of $49.9 million for the nine months ended September 30, 2016 ( Note 4 ). (c) Included in unallocated corporate overhead are asset management fees, and general and administrative expenses, as well as interest expense and other charges related to our Senior Credit Facility. These expenses are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance.
Reconciliation of Assets from Segment to Consolidated	Total Long-Lived Assets at (d) Total Assets at September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Net Lease (e) $ 3,190,781 $ 3,169,885 $ 3,864,659 $ 3,956,239 Self-Storage 241,662 261,273 255,441 269,081 All Other 243,348 257,844 293,380 309,288 Corporate — — 349,407 78,582 Total Company $ 3,675,791 $ 3,689,002 $ 4,762,887 $ 4,613,190 (d) Includes Net investments in real estate and Equity investments in real estate. (e) Includes one property classified as Assets held for sale as of September 30, 2016 ( Note 4 , Note 13 ).

Organization (Narratives) (Deta

Organization (Narratives) (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2016ft²segmentpropertytenant
Real Estate Properties
Capital interest in operating partnership	99.99%
Number of real estate properties	388
Number of tenants | tenant	116
Square footage of real estate properties | ft²	42
Number of reportable segments | segment	2
Operating real estate
Real Estate Properties
Number of real estate properties	38
Square footage of operating properties | ft²	3
Self storage
Real Estate Properties
Number of real estate properties	37
Hotel
Real Estate Properties
Number of real estate properties	1

Basis Of Presentation (Narrativ

Basis Of Presentation (Narratives) (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)vieshares	Sep. 30, 2015USD ($)shares	Dec. 31, 2014shares	Dec. 31, 2013shares	Dec. 31, 2012shares	Dec. 31, 2011shares	Dec. 31, 2015USD ($)vie
Variable Interest Entity
Variable interest entities, count | vie	29
Variable interest entities consolidated, count | vie	14
Variable interest entities unconsolidated, count | vie	13						14
Variable interest entities maximum risk exposure	$ 396,600						$ 432,600
Deferred finance costs	$ 10,388
Common Stock
Variable Interest Entity
Stock repurchases in period, shares | shares	3,157,473	3,089,139	2,798,365	1,918,540	1,818,685	1,826,959
Prior period reclassification adjustment		$ (106,200)
Treasury Stock
Variable Interest Entity
Prior period reclassification adjustment		(106,200)
Additional Paid-In-Capital
Variable Interest Entity
Prior period reclassification adjustment		$ (106,200)
Loans receivables
Variable Interest Entity
Variable interest entities, count | vie	2
Accounting Standards Update 2015-02
Variable Interest Entity
Variable interest entities, count | vie	15
Accounting Standards Update 2015-03 | Other assets
Variable Interest Entity
Deferred finance costs							(12,800)
Accounting Standards Update 2015-03 | Non recourse debt and Term Loans
Variable Interest Entity
Deferred finance costs							$ 12,800

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Net investments in properties	$ 2,671,246	$ 2,678,223
Net investments in direct financing leases	510,755	495,564
In-place lease and tenant relationship intangible assets, net	433,849	445,223
Other assets, net	265,505	246,027
Total assets	4,762,887	4,613,190
Liabilities
Non-recourse debt, net	2,017,477	1,881,774
Accounts payable, accrued expenses and other liabilities	129,771	133,948
Deferred income taxes	30,022	24,929
Total liabilities	2,384,460	2,318,595
Variable Interest Entity
Assets
Net investments in properties	446,920	309,030
Net investments in direct financing leases	316,213	303,112
In-place lease and tenant relationship intangible assets, net	26,302	20,269
Other assets, net	72,359	66,654
Total assets	867,780	705,535
Liabilities
Non-recourse debt, net	335,584	262,830
Accounts payable, accrued expenses and other liabilities	19,040	15,662
Deferred income taxes	14,024	10,675
Total liabilities	$ 369,350	$ 289,889

Agreements and Transactions w40

Agreements and Transactions with Related Parties (Narratives) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Acquisitions and Disposition Fees
Current acquisition fees	$ 0	$ 563,000	$ 550,000	$ 5,500,000
Deferred acquisition fees	$ 0	$ 450,000	$ 440,000	4,182,000
Preferred return by advisor			5.00%
Interest rate on unpaid deferred acquisition fees			5.00%
Asset Management Fees and Available Cash Distributions
Net asset value (per share)					$ 10.24
Percentage of asset management fees paid in cash			50.00%
Percentage of asset management fees paid in shares			50.00%
Common stock shares outstanding	342,748,756		342,748,756		337,065,419
Percentage of available cash distribution to advisor			10.00%
Personnel And Office Rent Reimbursement
Maximum personnel and overhead reimbursement, percentage	2.20%		2.20%		2.40%
Legal fee reimbursement rate	0.25%		0.25%
Line of credit, maximum borrowing capacity	$ 200,000,000		$ 200,000,000			$ 250,000,000
Post 2,016
Personnel And Office Rent Reimbursement
Maximum personnel and overhead reimbursement, percentage	2.00%		2.00%
Advisor
Asset Management Fees and Available Cash Distributions
Common stock shares outstanding	11,510,492		11,510,492
Percentage of total common stock outstanding held by related party			3.40%
WPC
Personnel And Office Rent Reimbursement
Line of credit, maximum borrowing capacity							$ 75,000,000
Minimum
Personnel And Office Rent Reimbursement
Ownership interest, percentage	7.00%		7.00%
Maximum
Personnel And Office Rent Reimbursement
Ownership interest, percentage	97.00%		97.00%
Real estate commission | Maximum
Acquisitions and Disposition Fees
Percentage of subordinated disposition fees			50.00%
Contract sales price of investment | Maximum
Acquisitions and Disposition Fees
Percentage of subordinated disposition fees			3.00%
Average equity value | Minimum
Asset Management Fees and Available Cash Distributions
Percentage of asset management fees			1.50%
Average equity value | Maximum
Asset Management Fees and Available Cash Distributions
Percentage of asset management fees			1.75%
Average invested assets
Personnel And Office Rent Reimbursement
Percentage of operating expenses reimbursements			2.00%
Adjusted net income
Personnel And Office Rent Reimbursement
Percentage of operating expenses reimbursements			25.00%
Long-term net lease
Acquisitions and Disposition Fees
Percentage of acquisition fees			4.50%
Long-term net lease | Average market value
Asset Management Fees and Available Cash Distributions
Percentage of asset management fees			0.50%
Long-term net lease | Deferred
Acquisitions and Disposition Fees
Percentage of acquisition fees			2.00%
Long-term net lease | Current
Acquisitions and Disposition Fees
Percentage of acquisition fees			2.50%
Non-long term net lease | Minimum
Acquisitions and Disposition Fees
Percentage of acquisition fees			1.00%
Non-long term net lease | Maximum
Acquisitions and Disposition Fees
Percentage of acquisition fees			1.75%
Noncash
Acquisitions and Disposition Fees
Current acquisition fees			$ 200,000
Deferred acquisition fees			$ 400,000	$ 1,500,000

Agreements and Transactions w41

Agreements and Transactions with Related Parties (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amounts Included in the Consolidated Statements of Income
Asset management fees	$ 7,489	$ 7,422	$ 22,456	$ 21,864
Available Cash Distributions	5,276	5,837	17,803	17,690
Personnel and overhead reimbursements	2,293	3,086	7,318	9,238
Acquisition expenses	1,403	0	2,844	430
Interest expense on deferred acquisition fees and loan from affiliate	47	113	176	246
Operating expenses	16,508	16,458	50,597	49,468
Acquisition Fees Capitalized
Personnel and overhead reimbursements	108	0	221	0
Current acquisition fees	0	563	550	5,500
Deferred acquisition fees	0	450	440	4,182
Transaction fees incurred	$ 108	$ 1,013	$ 1,211	$ 9,682

Agreements and Transactions w42

Agreements and Transactions with Related Parties (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Due to Affiliates
Deferred acquisition fees, including interest	$ 4,436	$ 6,134
Asset management fees payable	2,446	2,497
Reimbursable costs	2,187	3,150
Current acquisition fees	245	1,847
Accounts payable	75	6
Due to Related Parties	$ 9,389	$ 13,634

Net Investments in Properties43

Net Investments in Properties and Real Estate Under Construction (Narratives) (Details) $ in Thousands	Sep. 30, 2016USD ($)property	Sep. 01, 2016USD ($)	Apr. 11, 2016USD ($)	Feb. 10, 2016USD ($)	Jan. 08, 2016USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2013
Foreign Currency Translation
Effects of foreign currency translation on balance sheet item						$ 3,707	$ (1,100)		$ 15,442	$ (60,990)
Acquisition
Acquired finite-lived intangible asset, amount									17,450
Acquisition costs, expensed						1,446	0		6,786	643
Gain on change in control of interests						0	0		49,922	0
Earnings from equity method investments						$ 2,780	$ (1,078)		$ 6,532	$ 6,625
Number of real estate properties | property	388					388		388	388
Partially completed construction projects, count | property	2					2		2	2
Ongoing Build-to-Suit Projects
Acquisition
Unfunded commitments	$ 9,700					$ 9,700		$ 9,700	$ 9,700		$ 2,800
Substantially Completed
Acquisition
Assets placed into service, value									10,900
Payments for tenant improvements									$ 900
Number of construction projects put in service | property									4
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Acquisition
Number of properties sold | property						22			34
Number of real estate properties | property	52					52		52	52
Held-for-sale
Acquisition
Reclassification of assets									$ 137,000
Number of real estate properties | property	1					1		1	1
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC | Self storage
Acquisition
Investment purchase price			$ 22,000
Acquisition costs, expensed			$ 3,700						$ 3,700
Ownership interest, percentage			100.00%									45.00%
Indirect ownership interest in equity investments												40.00%
Additional ownership interest acquired			15.00%
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Acquisition
Investment purchase price									11,363
Land	$ 26,941					$ 26,941		$ 26,941	26,941
Buildings	109,399					109,399		109,399	109,399
Gain on change in control of interests									49,922
Earnings from equity method investments								400
Real estate
Foreign Currency Translation
Effects of foreign currency translation on balance sheet item									25,200
Acquisition
Investment purchase price									51,200
Land	6,700					6,700		6,700	6,700
Buildings	40,200					$ 40,200		$ 40,200	40,200
Acquired finite-lived intangible asset, amount									4,300
Acquisition costs, expensed									2,600
Building improvements									4,300
Real estate | Student Accomidation in Jacksonville, FL
Acquisition
Investment purchase price					$ 17,300
Real estate | Industrial facility in Houston, TX
Acquisition
Investment purchase price				$ 4,200
Real estate | Office building in Oak Creek, WI
Acquisition
Investment purchase price		$ 16,900
Real estate | Manufacturing building in Perryburg, OH
Acquisition
Investment purchase price	$ 12,800
Operating real estate
Acquisition
Building improvements									1,000
Gain on change in control of interests									49,922
Reclassification of assets									$ (137,100)
Number of real estate properties | property	38					38		38	38
Real estate under construction
Acquisition
Capitalized funds									$ 12,360
Assets placed into service, value									11,840
Real estate under construction | New Build-to-Suit Project
Acquisition
Capitalized funds									8,400
Real estate under construction | Ongoing Build-to-Suit Projects
Acquisition
Capitalized funds									$ 2,300
Number of real estate properties | property	3					3		3	3
Payments for tenant improvements									$ 1,700

Net Investments in Properties44

Net Investments in Properties and Real Estate Under Construction (Details 1) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments in real estate
Less: Accumulated depreciation	$ (288,813)	$ (256,175)
Net investments in properties	2,671,246	2,678,223
Real estate
Investments in real estate
Land	565,927	560,257
Buildings and improvements	2,135,259	2,098,620
Less: Accumulated depreciation	(271,602)	(225,867)
Net investments in properties	2,429,584	2,433,010
Operating real estate
Investments in real estate
Land	55,688	66,066
Buildings and improvements	203,185	209,455
Less: Accumulated depreciation	(17,211)	(30,308)
Net investments in properties	$ 241,662	$ 245,213

Net Investments in Properties45

Net Investments in Properties and Real Estate Under Construction (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Liabilities assumed at fair value:
Gain on change in control of interests	$ 0	$ 0	$ (49,922)	$ 0
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Investments In Real Estate
Cash consideration			11,363
Assets acquired at fair value:
Land	26,941		26,941
Buildings	109,399		109,399
In-place lease intangible assets	9,783		9,783
Other assets acquired	1,705		1,705
Total assets acquired	147,828		147,828
Liabilities assumed at fair value:
Non-recourse debt, net	(70,578)		(70,578)
Other liabilities assumed	(831)		(831)
Total liabilities assumed	(71,409)		(71,409)
Total identifiable net assets	76,419		76,419
Gain on change in control of interests			(49,922)
Carrying value of previously held equity investment	(15,134)		(15,134)
Total assets acquired less previously held equity investments	$ 11,363		$ 11,363

Net Investments in Properties46

Net Investments in Properties and Real Estate Under Construction (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition
Revenues	$ 110,076	$ 108,202		$ 326,487	$ 316,620
Net income	67,045	29,199		213,903	92,416
Net income attributable to CPA:17 - Global	$ 58,218	$ 20,052		$ 185,499	$ 63,071
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Business Acquisition
Revenues			$ 5,159
Net income			42,891
Net income attributable to CPA:17 - Global			$ 42,891

Net Investments in Properties47

Net Investments in Properties and Real Estate Under Construction (Details 4) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition, Pro Forma Information
Pro forma total revenues	$ 110,076	$ 110,919	$ 329,100	$ 324,361
Pro forma net income	68,347	28,023	167,667	135,062
Pro forma net income attributable to noncontrolling interests	(8,827)	(9,147)	(28,405)	(29,345)
Pro forma net income attributable to CPA®:17 – Global	$ 59,520	$ 18,876	$ 139,262	$ 105,717
Pro forma basic and diluted weighted-average shares outstanding	343,209,362	335,668,313	341,325,683	333,523,528
Pro-forma basic and diluted income per share	$ 0.17	$ 0.06	$ 0.41	$ 0.32

Net Investments in Properties48

Net Investments in Properties and Real Estate Under Construction (Details 5) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Real Estate Under Construction
Beginning balance	$ 1,068
Ending balance	1,578
Real estate under construction
Real Estate Under Construction
Beginning balance	1,068
Capitalized funds	12,360
Placed into service	(11,840)
Foreign currency translation adjustments	(10)
Ending balance	$ 1,578

Net Investments in Properties49

Net Investments in Properties and Real Estate Under Construction (Details 6) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 14,850	$ 0
Disposal Group, Not Discontinued Operations [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 14,850	$ 0

Finance Receivables (Narratives

Finance Receivables (Narratives) (Details) $ in Thousands

Nov. 04, 2016USD ($)

Apr. 08, 2016USD ($)property

Feb. 10, 2016USD ($)

Feb. 03, 2015USD ($)

Jan. 08, 2015USD ($)

Dec. 14, 2010USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)

Accounts, Notes, Loans and Financing Receivable

Net investments in direct financing leases

$ 510,755

$ 510,755

$ 495,564

Acquisition costs, expensed

1,446

$ 0

6,786

$ 643

Financing receivable

554,855

554,855

$ 539,608

127 West 23rd Investors, LLC

Accounts, Notes, Loans and Financing Receivable

Acquisition costs, expensed

$ 100

Financing receivable

$ 12,600

12,600

12,600

Notes receivable interest rate

7.00%

127 West 23rd Investors, LLC | Subsequent Event

Accounts, Notes, Loans and Financing Receivable

Proceeds from collection of loans receivable

$ 12,600

1185 Broadway LLC

Accounts, Notes, Loans and Financing Receivable

Acquisition costs, expensed

$ 300

Financing receivable

$ 30,000

$ 31,500

$ 31,500

Notes receivable interest rate

10.00%

Notes receivable maturity date

Jan. 8, 2017

China Alliance Properties Limited

Accounts, Notes, Loans and Financing Receivable

Financing receivable

$ 40,000

Notes receivable interest rate

11.00%

Industrial Facility in Houston, TX

Accounts, Notes, Loans and Financing Receivable

Net investments in direct financing leases

$ 4,200

Acquisition costs, expensed

$ 300

Facilities in Ohio, North Carolina, Pennsylvania and Missouri

Accounts, Notes, Loans and Financing Receivable

Net investments in direct financing leases

$ 12,000

Acquisition costs, expensed

$ 500

Number of properties acquired | property

6

Finance Receivables (Details 1)

Finance Receivables (Details 1) $ in Thousands	Sep. 30, 2016USD ($)tenant	Dec. 31, 2015USD ($)tenant
Credit Quality Of Finanace Receivables:
Financing receivable	$ 554,855	$ 539,608
Internally Assigned Grade 1 | Net investments in direct financing lease
Credit Quality Of Finanace Receivables:
Number of tenants and obligors | tenant	0	0
Financing receivable	$ 0	$ 0
Internally Assigned Grade 2 | Net investments in direct financing lease
Credit Quality Of Finanace Receivables:
Number of tenants and obligors | tenant	2	1
Financing receivable	$ 61,730	$ 2,264
Internally Assigned Grade 3 | Net investments in direct financing lease
Credit Quality Of Finanace Receivables:
Number of tenants and obligors | tenant	10	10
Financing receivable	$ 427,328	$ 429,212
Internally Assigned Grade 4 | Net investments in direct financing lease
Credit Quality Of Finanace Receivables:
Number of tenants and obligors | tenant	5	4
Financing receivable	$ 65,797	$ 108,132
Internally Assigned Grade 5 | Net investments in direct financing lease
Credit Quality Of Finanace Receivables:
Number of tenants and obligors | tenant	0	0
Financing receivable	$ 0	$ 0

Equity Investments in Real Es52

Equity Investments in Real Estate (Narratives) (Details) - USD ($)	Jul. 29, 2016	Apr. 11, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2013
Footnote Details
Non-recourse mortgage loans			$ 122,200,000
Payments of mortgage principal			$ 155,183,000	$ 114,867,000
Debt instrument terms (years)			6 years
Preferred return			5.00%
Return of capital from equity investments in real estate			$ 29,997,000	20,434,000
Equity method investment unamortized difference basis			$ 22,300,000		$ 26,500,000
Minimum
Footnote Details
Ownership interest, percentage			7.00%
Maximum
Footnote Details
Ownership interest, percentage			97.00%
Unconsolidated Equity Investments
Footnote Details
Return of capital from equity investments in real estate			$ 49,100,000	$ 31,000,000
Net Lease | Tesco plc
Footnote Details
Non-recourse mortgage loans	$ 34,600,000
Net Lease | BPS Nevada, LLC
Footnote Details
Preferred return			12.00%
Net Lease | BPS Nevada, LLC | Minimum
Footnote Details
Preferred return					8.00%
Net Lease | BPS Nevada, LLC | Maximum
Footnote Details
Preferred return					12.00%
Net Lease | BPS Nevada, LLC | Third Party
Footnote Details
Ownership interest, percentage			15.00%
Self-Storage | Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Footnote Details
Ownership interest, percentage		100.00%				45.00%
Indirect ownership interest in equity investments						40.00%
Additional ownership interest acquired		15.00%
Self-Storage | Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC | Equity Method Investments | Third Party
Footnote Details
Ownership interest, percentage					45.00%
Indirect ownership interest in equity investments					40.00%
All Other | IDL Wheel Tenant, LLC | Third Party
Footnote Details
Unfunded commitments			$ 0
All Other | Shelborne Property Associates, LLC | Third Party
Footnote Details
Ownership interest, percentage			33.00%
Guaranty income payable			$ 10,900,000
WPC | Net Lease | C1000 Logistiek Vastgooed B.V
Footnote Details
Non-recourse mortgage loans			72,800,000
Share of the non-recourse debt			$ 61,800,000
Ownership interest, percentage			85.00%
WPC | Net Lease | Tesco plc
Footnote Details
Non-recourse mortgage loans	17,000,000
Payments of mortgage principal	$ 33,800,000
Interest rate on debt	5.90%
Debt instrument terms (years)	5 years
Ownership interest, percentage			49.00%
WPC | Net Lease | EURIBOR | Tesco plc
Footnote Details
Interest rate on debt	3.30%

Equity Investments in Real Es53

Equity Investments in Real Estate (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	$ 2,780	$ (1,078)	$ 6,532	$ 6,625
Equity Earnings from Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	3,882	53	9,940	8,881
Amortization of Basis Differences on Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	(1,102)	(1,131)	(3,408)	(2,256)
Net Lease | Equity Earnings from Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	4,056	4,080	12,369	11,947
Net Lease | Amortization of Basis Differences on Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	(667)	(821)	(2,307)	(1,447)
Self-Storage | Equity Earnings from Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	0	(364)	(394)	(1,311)
Self-Storage | Amortization of Basis Differences on Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	0	(39)	(39)	(116)
All Other | Equity Earnings from Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	(174)	(3,663)	(2,035)	(1,755)
All Other | Amortization of Basis Differences on Equity Investments:
Schedule of Equity Method Investments
Equity in earnings (losses) of equity method investments in real estate	$ (435)	$ (271)	$ (1,062)	$ (693)

Equity Investments in Real Es54

Equity Investments in Real Estate (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Apr. 11, 2016	Dec. 31, 2015	Dec. 31, 2013
Ownership interest in equity investments:
Equity investments in real estate	$ 477,362		$ 514,147
Net Lease
Ownership interest in equity investments:
Equity investments in real estate	$ 233,993		240,345
Net Lease | C1000 Logistiek Vastgooed B.V | WPC
Ownership interest in equity investments:
Ownership interest, percentage	85.00%
Equity investments in real estate	$ 58,056		59,629
Net Lease | U-haul Moving Partners Inc And Mercury Partners LP | WPC
Ownership interest in equity investments:
Ownership interest, percentage	12.00%
Equity investments in real estate	$ 38,030		39,309
Net Lease | Bank Pekao S.A. | CPA 18 - Global
Ownership interest in equity investments:
Ownership interest, percentage	50.00%
Equity investments in real estate	$ 24,730		25,785
Net Lease | BPS Nevada, LLC | Third Party
Ownership interest in equity investments:
Ownership interest, percentage	15.00%
Equity investments in real estate	$ 22,728		22,007
Net Lease | State Farm | CPA 18 - Global
Ownership interest in equity investments:
Ownership interest, percentage	50.00%
Equity investments in real estate	$ 17,638		18,587
Net Lease | Apply Sorco | CPA 18 - Global
Ownership interest in equity investments:
Ownership interest, percentage	49.00%
Equity investments in real estate	$ 15,660		15,170
Net Lease | Berry Plastics Corporation | WPC
Ownership interest in equity investments:
Ownership interest, percentage	50.00%
Equity investments in real estate	$ 15,179		16,094
Net Lease | Tesco plc | WPC
Ownership interest in equity investments:
Ownership interest, percentage	49.00%
Equity investments in real estate	$ 11,734		11,849
Net Lease | Hellweg Die Profi-Baumärkte GmbH & Co. KG (referred to as Hellweg 2) | WPC
Ownership interest in equity investments:
Ownership interest, percentage	37.00%
Equity investments in real estate	$ 11,460		12,212
Net Lease | Agrokor d.d. (referred to as Agrokor 5) | CPA 18 - Global
Ownership interest in equity investments:
Ownership interest, percentage	20.00%
Equity investments in real estate	$ 7,382		7,858
Net Lease | Eroski Sociedad Cooperativa - Mallorca | WPC
Ownership interest in equity investments:
Ownership interest, percentage	30.00%
Equity investments in real estate	$ 7,008		6,790
Net Lease | Dicks Sporting Goods, Inc. | WPC
Ownership interest in equity investments:
Ownership interest, percentage	45.00%
Equity investments in real estate	$ 4,388		5,055
Self-Storage
Ownership interest in equity investments:
Equity investments in real estate	0		16,060
Self-Storage | Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Ownership interest in equity investments:
Ownership interest, percentage		100.00%		45.00%
Self-Storage | Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC | Third Party
Ownership interest in equity investments:
Equity investments in real estate	0		16,060
All Other
Ownership interest in equity investments:
Equity investments in real estate	$ 243,369		257,742
All Other | Shelborne Property Associates, LLC | Third Party
Ownership interest in equity investments:
Ownership interest, percentage	33.00%
Equity investments in real estate	$ 141,038		148,121
All Other | BG LLH, LLC | Third Party
Ownership interest in equity investments:
Ownership interest, percentage	7.00%
Equity investments in real estate	$ 36,942		37,720
All Other | IDL Wheel Tenant, LLC | Third Party
Ownership interest in equity investments:
Equity investments in real estate	37,925		44,387
All Other | BPS Nevada, LLC Preferred Equity | Third Party
Ownership interest in equity investments:
Equity investments in real estate	$ 27,464		$ 27,514

Intangible Assets and Liabili55

Intangible Assets and Liabilities (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Intangible Assets Liabilities
Net amortization of intangibles	$ 9.5	$ 9.5	$ 29.1	$ 28.5
Minimum
Intangible Assets Liabilities
Finite-lived intangibles, useful life			1 year
Maximum
Intangible Assets Liabilities
Finite-lived intangibles, useful life			53 years
Maximum | Ground lease
Intangible Assets Liabilities
Finite-lived intangibles, useful life			94 years

Intangible Assets and Liabili56

Intangible Assets and Liabilities (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Acquired Intangible Assets Liabilities
Amortizable Intangible Assets	$ 17,450
Below-market rent
Acquired Intangible Assets Liabilities
Finite lived intangibles asset liability useful life	18 years 9 months 18 days
Amortizable Intangible Liability	$ (3,329)
In-place lease intangible assets, net
Acquired Intangible Assets Liabilities
Weighted average useful life, intangible assets	8 years 7 months 6 days
Amortizable Intangible Assets	$ 17,229
Above-market rent intangible assets, net
Acquired Intangible Assets Liabilities
Weighted average useful life, intangible assets	20 years
Amortizable Intangible Assets	$ 221

Intangible Assets and Liabili57

Intangible Assets and Liabilities (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Amortizable intangible assets
Finite-lived intangible assets, gross	$ 701,789	$ 689,330
Less: accumulated amortization	(191,240)	(164,362)
Finite-lived intangible assets, net	510,549	524,968
Unamortizable Intangible Assets
Goodwill	304	304
Total intangible assets, gross	702,093	689,634
Total intangible assets, net	510,853	525,272
Amortizable intangible liabilities
Finite-lived intangible liabilities, gross	(120,694)	(118,097)
Less: accumulated amortization	28,309	21,396
Finite-lived intangible liabilities, net	(92,385)	(96,701)
Below-market rent
Amortizable intangible liabilities
Finite-lived intangible liabilities, gross	(119,549)	(116,952)
Less: accumulated amortization	28,268	21,364
Finite-lived intangible liabilities, net	(91,281)	(95,588)
Above-market ground lease
Amortizable intangible liabilities
Finite-lived intangible liabilities, gross	(1,145)	(1,145)
Less: accumulated amortization	41	32
Finite-lived intangible liabilities, net	(1,104)	(1,113)
In-place lease and tenant relationships
Amortizable intangible assets
Finite-lived intangible assets, gross	600,522	588,858
Less: accumulated amortization	(166,673)	(143,635)
Finite-lived intangible assets, net	433,849	445,223
Above-market rent intangible assets, net
Amortizable intangible assets
Finite-lived intangible assets, gross	88,956	88,288
Less: accumulated amortization	(24,103)	(20,405)
Finite-lived intangible assets, net	64,853	67,883
Below-market ground lease
Amortizable intangible assets
Finite-lived intangible assets, gross	12,311	12,184
Less: accumulated amortization	(464)	(322)
Finite-lived intangible assets, net	$ 11,847	$ 11,862

Fair Value Measurements (Narrat

Fair Value Measurements (Narratives) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value Inputs
Deferred finance costs	$ 10,388,000		$ 10,388,000
Impairment of CMBS	29,183,000	$ 0	29,183,000	$ 1,023,000
Nonrecurring | Level 3
Fair Value Inputs
Impairment of CMBS	29,183,000	$ 0	29,183,000	0
CMBS | Nonrecurring | Level 3
Fair Value Inputs
Impairment of CMBS	0			$ 1,000,000
Accounting Standards Update 2015-03 | Non recourse debt
Fair Value Inputs
Deferred finance costs	$ 10,200,000		$ 10,200,000		$ 12,500,000

Fair Value Measurements (Detail

Fair Value Measurements (Details 1) - Level 3 - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Carrying Value
Fair Value, Balance Sheet Grouping
Non-recourse debt	$ 2,017,477	$ 1,881,774
CMBS	4,006	2,765
Fair Value
Fair Value, Balance Sheet Grouping
Non-recourse debt	2,069,921	1,937,459
CMBS	$ 8,194	$ 8,739

Fair Value Measurements (Deta60

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 29,183	$ 0	$ 29,183	$ 1,023
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	29,183	0	29,183	0
Real estate | Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements	$ 14,850	0	14,850	0
Impairment charges		$ 0	$ 29,183	$ 0

Risk Management and Use of De61

Risk Management and Use of Derivative Financial Instruments (Narratives) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Derivative Instrument Detail
Net collateral posted for derivatives	$ 0	$ 0
Derivative instrument remaining maturity period	6 years 6 months
Collateral received	$ 0
Total credit exposure on derivatives	47,300,000
Derivatives, net liability position	12,000,000	11,400,000
Aggregate termination value for immediate settlement	13,100,000	$ 11,900,000
Single counterparty
Derivative Instrument Detail
Total credit exposure on derivatives	19,700,000
Interest expense
Derivative Instrument Detail
Estimated amount reclassified from OCI to income, derivatives	2,300,000
Other income and expense
Derivative Instrument Detail
Estimated amount reclassified from OCI to income, derivatives	$ 6,900,000

Risk Management and Use of De62

Risk Management and Use of Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value
Derivative asset, fair value	$ 32,563	$ 43,945
Derivative liability, fair value	(11,341)	(10,841)
Foreign currency forward contracts | Designated as hedging | Other assets
Derivatives, Fair Value
Derivative asset, fair value	30,618	41,850
Interest rate caps | Designated as hedging | Other assets
Derivatives, Fair Value
Derivative asset, fair value	40	0
Foreign currency collars | Designated as hedging | Other assets
Derivatives, Fair Value
Derivative asset, fair value	0	4
Foreign currency collars | Designated as hedging | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Derivative liability, fair value	(312)	(109)
Interest rate swaps | Designated as hedging | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Derivative liability, fair value	(11,029)	(10,732)
Stock warrants | Not designated | Other assets
Derivatives, Fair Value
Derivative asset, fair value	1,848	1,782
Swaption | Not designated | Other assets
Derivatives, Fair Value
Derivative asset, fair value	$ 57	$ 309

Risk Management and Use of De63

Risk Management and Use of Derivative Financial Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	$ (2,572)	$ (3,108)	$ (11,431)	$ 15,949
Foreign currency forward contracts | Cash Flow Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	(4,179)	(978)	(9,324)	15,626
Foreign currency forward contracts | Net Investment Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	(170)	(20)	(1,431)	366
Interest rate swaps | Cash Flow Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	2,152	(2,110)	(437)	(43)
Foreign currency collars | Cash Flow Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	(325)	0	(181)	0
Foreign currency collars | Net Investment Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	(13)	0	(21)	0
Interest rate caps | Cash Flow Hedging
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)
Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Income (Loss) (Effective Portion)	$ (37)	$ 0	$ (37)	$ 0

Risk Management and Use of De64

Risk Management and Use of Derivative Financial Instruments (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)	$ 303	$ 383	$ 358	$ 618
Interest rate swaps | Interest expense
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)	(1,869)	(1,913)	(5,492)	(6,044)
Foreign currency forward contracts | Other income and (expense)
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)
Amount of Gain (Loss) Reclassified from Other Comprehensive Income (Loss) into Income (Effective Portion)	$ 2,172	$ 2,296	$ 5,850	$ 6,662

Risk Management and Use of De65

Risk Management and Use of Derivative Financial Instruments (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	$ 287	$ (177)	$ 53	$ 341
Stock warrants | Not designated | Other income and (expense)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	165	0	66	66
Swaption | Not designated | Other income and (expense)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	(20)	(212)	(251)	(177)
Embedded credit derivatives | Not designated | Other income and (expense)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	0	(26)	0	235
Foreign currency forward contracts | Not designated | Other income and (expense)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	0	0	0	(16)
Interest rate swaps | Designated as hedging | Interest expense
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	147	61	243	233
Foreign currency collars | Designated as hedging | Other income and (expense)
Amount of Gain (Loss) on Derivatives Recognized in Income
Amount of gain (loss) recognized income on derivatives	$ (5)	$ 0	$ (5)	$ 0

Risk Management and Use of De66

Risk Management and Use of Derivative Financial Instruments (Details 5) € in Thousands, £ in Thousands, $ in Thousands	Sep. 30, 2016USD ($)instrument	Sep. 30, 2016EUR (€)instrument	Sep. 30, 2016GBP (£)instrument
Derivative
Fair value	$ (10,931)
Cash Flow Hedging | Interest rate swaps | USD
Derivative
Derivative number of instruments | instrument	14	14	14
Derivative notional amount	$ 232,029
Fair value	$ (9,787)
Cash Flow Hedging | Interest rate swaps | Euro
Derivative
Derivative number of instruments | instrument	6	6	6
Derivative notional amount | €		€ 44,681
Fair value	$ (1,241)
Cash Flow Hedging | Interest rate cap | Euro
Derivative
Derivative number of instruments | instrument	1	1	1
Derivative notional amount | €		€ 12,402
Fair value	$ 26
Cash Flow Hedging | Interest rate cap | GBP
Derivative
Derivative number of instruments | instrument	1	1	1
Derivative notional amount | £			£ 6,394
Fair value	$ 14
Not designated | Swaption | USD
Derivative
Derivative number of instruments | instrument	1	1	1
Derivative notional amount	$ 13,230
Fair value	$ 57

Risk Management and Use of De67

Risk Management and Use of Derivative Financial Instruments (Details 6) - Sep. 30, 2016 € in Thousands, $ in Thousands	USD ($)instrument	EUR (€)instrument
Derivative Instrument Detail
Derivative fair value	$ (10,931)
Cash Flow Hedging | Interest rate swaps
Derivative Instrument Detail
Ownership interest, percentage	85.00%	85.00%
Derivative number of instruments | instrument	1	1
Derivative notional amount | €		€ 10,653
Derivative fair value	$ (570)
Cash Flow Hedging | Interest rate cap
Derivative Instrument Detail
Ownership interest, percentage	49.00%	49.00%
Derivative number of instruments | instrument	1	1
Derivative notional amount | €		€ 31,100
Derivative fair value	$ 26

Risk Management and Use of De68

Risk Management and Use of Derivative Financial Instruments (Details 7) € in Thousands, ¥ in Thousands, NOK in Thousands, $ in Thousands	Sep. 30, 2016USD ($)instrument	Sep. 30, 2016JPY (¥)instrument	Sep. 30, 2016NOKinstrument	Sep. 30, 2016EUR (€)instrument
Derivative Instrument Detail
Fair value, foreign currency derivatives	$ 30,305
Designated as hedging | Cash Flow Hedging | Foreign currency contract | Euro
Derivative Instrument Detail
Derivative number of instruments | instrument	65	65	65	65
Derivative notional amount | €				€ 129,596
Fair value, foreign currency derivatives	$ 28,172
Designated as hedging | Cash Flow Hedging | Foreign currency contract | NOK
Derivative Instrument Detail
Derivative number of instruments | instrument	14	14	14	14
Derivative notional amount | NOK			NOK 10,104
Fair value, foreign currency derivatives	$ 107
Designated as hedging | Cash Flow Hedging | Foreign currency zero-cost collars | Euro
Derivative Instrument Detail
Derivative number of instruments | instrument	2	2	2	2
Derivative notional amount | €				€ 15,100
Fair value, foreign currency derivatives	$ (278)
Designated as hedging | Cash Flow Hedging | Foreign currency zero-cost collars | NOK
Derivative Instrument Detail
Derivative number of instruments | instrument	3	3	3	3
Derivative notional amount | NOK			NOK 2,000
Fair value, foreign currency derivatives	$ (15)
Designated as hedging | Net Investment Hedging | Foreign currency contract | NOK
Derivative Instrument Detail
Derivative number of instruments | instrument	3	3	3	3
Derivative notional amount | NOK			NOK 5,549
Fair value, foreign currency derivatives	$ 61
Designated as hedging | Net Investment Hedging | Foreign currency contract | JPY
Derivative Instrument Detail
Derivative number of instruments | instrument	6	6	6	6
Derivative notional amount | ¥		¥ 848,490
Fair value, foreign currency derivatives	$ 2,277
Designated as hedging | Net Investment Hedging | Foreign currency zero-cost collars | NOK
Derivative Instrument Detail
Derivative number of instruments | instrument	1	1	1	1
Derivative notional amount | NOK			NOK 2,500
Fair value, foreign currency derivatives	$ (19)

Debt (Narratives) (Details)

Debt (Narratives) (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2016USD ($)property	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)propertyloan	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Additional Debt Disclosures
Number of loans assumed | loan				5
Non-recourse mortgage loans	$ 122,200,000			$ 122,200,000
Unamortized discount	$ 1,100,000			$ 1,100,000
Debt, weighted average interest rate	1.10%			1.10%
Debt instrument terms (years)				6 years
Payments of mortgage principal				$ 155,183,000	$ 114,867,000
Number of real estate properties | property	388			388
Loss on the extinguishment of debt	$ 15,990,000		$ 5,000	$ 23,580,000	275,000
Line of credit, maximum borrowing capacity	$ 200,000,000	$ 250,000,000		$ 200,000,000
Commitment fee threshold	50.00%			50.00%
Credit facility fees				$ 1,900,000
Line of credit outstanding	$ 49,719,000			49,719,000		$ 112,834,000
Restriction payment threshold	100,000,000			100,000,000
Balloon payment	180,600,000			180,600,000
Effects of foreign currency translation on balance sheet item	3,707,000		$ (1,100,000)	15,442,000	$ (60,990,000)
Debt Refinanced
Additional Debt Disclosures
Non-recourse mortgage loans	$ 16,700,000			$ 16,700,000
Debt instrument terms (years)				4 years 9 months 18 days
Payments of mortgage principal				$ 11,200,000
Interest rate on debt	1.90%			1.90%
Loans refinanced | loan				1
Self storage
Additional Debt Disclosures
Number of real estate properties | property	37			37
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Additional Debt Disclosures
Payments of mortgage principal	$ 41,800,000			$ 84,700,000
Number of real estate properties | property	52			52
Number of properties sold | property	22			34
Revolver
Additional Debt Disclosures
Line of credit, maximum borrowing capacity		$ 200,000,000
Debt maturity date		Aug. 26, 2018
Debt	$ 50,000,000			$ 50,000,000		112,834,000
Line of credit outstanding	50,000,000			$ 50,000,000
Revolver | Accordion
Additional Debt Disclosures
Line of credit, maximum borrowing capacity		$ 250,000,000
Term Loan
Additional Debt Disclosures
Line of credit, maximum borrowing capacity		$ 50,000,000
Debt maturity date				Aug. 26, 2018
Debt	50,000,000			$ 50,000,000		$ 0
Term Loan | LIBOR
Additional Debt Disclosures
Debt instrument, variable interest rate				1.55%
Mortgages
Additional Debt Disclosures
Non-recourse mortgage loans	65,900,000			$ 65,900,000
Unamortized discount	$ 100,000			$ 100,000
Debt instrument terms (years)				4 years 9 months 18 days
Loans repaid, count | loan				7
Interest rate on debt	3.02%			3.02%
Mortgages | Self storage
Additional Debt Disclosures
Debt, weighted average interest rate	4.90%			4.90%
Debt instrument terms (years)				5 years 8 months 12 days
Payments of mortgage principal				$ 121,900,000
Number of real estate properties | property	18			18
Non-recourse debt
Additional Debt Disclosures
Effects of foreign currency translation on balance sheet item				$ 13,000,000
Investments made in prior years
Additional Debt Disclosures
Non-recourse mortgage loans	$ 110,200,000			110,200,000
Current
Additional Debt Disclosures
Non-recourse mortgage loans	12,000,000			12,000,000
Self storage
Additional Debt Disclosures
Non-recourse mortgage loans	69,800,000			69,800,000
Unamortized discount	$ 1,200,000			$ 1,200,000
Additional ownership interest acquired				15.00%
Debt, weighted average interest rate	4.50%			4.50%
Debt instrument terms (years)				1 year 1 month 6 days
Minimum
Additional Debt Disclosures
Debt maturity date				Oct. 31, 2016
Credit facility fee, rate				0.15%
Minimum | Revolver | Base Rate
Additional Debt Disclosures
Interest rate on debt	0.50%			0.50%
Minimum | Revolver | LIBOR | Euro Currency Rate
Additional Debt Disclosures
Interest rate on debt	1.50%			1.50%
Minimum | Term Loan | Base Rate
Additional Debt Disclosures
Interest rate on debt	0.45%			0.45%
Minimum | Term Loan | LIBOR | Euro Currency Rate
Additional Debt Disclosures
Interest rate on debt	1.45%			1.45%
Maximum
Additional Debt Disclosures
Debt maturity date				Oct. 31, 2031
Credit facility fee, rate				0.30%
Maximum | Revolver | Base Rate
Additional Debt Disclosures
Interest rate on debt	1.25%			1.25%
Maximum | Revolver | LIBOR | Euro Currency Rate
Additional Debt Disclosures
Interest rate on debt	2.25%			2.25%
Maximum | Term Loan | Base Rate
Additional Debt Disclosures
Interest rate on debt	1.20%			1.20%
Maximum | Term Loan | LIBOR | Euro Currency Rate
Additional Debt Disclosures
Interest rate on debt	2.20%			2.20%
Fixed interest rate | Minimum
Additional Debt Disclosures
Mortgage loan real estate, maximum interest rate				1.90%
Fixed interest rate | Maximum
Additional Debt Disclosures
Mortgage loan real estate, maximum interest rate				10.90%
Variable interest rate | Minimum
Additional Debt Disclosures
Mortgage loan real estate, maximum interest rate				1.30%
Variable interest rate | Maximum
Additional Debt Disclosures
Mortgage loan real estate, maximum interest rate				6.00%

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Senior Credit Facility
Debt
Debt	$ 50,000	$ 112,834
Senior Credit Facility | USD
Debt
Debt	0	112,834
Term Loan
Debt
Debt	$ 50,000	$ 0
Term Loan | LIBOR
Debt
Debt instrument, variable interest rate	1.55%

Debt (Details 2)

Debt (Details 2) $ in Thousands	Sep. 30, 2016USD ($)
Long-term Debt, Fiscal Year Maturity
2016 (remainder)	$ 199,531
2,017	418,793
2,018	228,260
2,019	33,579
2,020	142,789
Thereafter through 2031	1,058,792
Long-term debt	2,081,744
Deferred finance costs	(10,388)
Unamortized discount, net	(4,160)
Total	$ 2,067,196

Equity (Narratives) (Details)

Equity (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Equity [Abstract]
Distributions Declared Per Share (usd per share)	$ 0.1625	$ 0.1625	$ 0.4875	$ 0.4875
Distributions payable	$ 55,697		$ 55,697		$ 54,775
Dividend payable, date	Oct. 14, 2016
Distributions paid			165,296	$ 161,481
Dividends declared			$ 166,218	$ 162,537

Equity (Details 1)

Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss)
Beginning equity balance, value			$ 2,294,595	$ 2,385,397
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense	$ 25,048	$ 24,104	75,027	69,346
Total other comprehensive loss	1,323	(4,235)	5,467	(45,304)
Ending equity balance, value	2,378,427	2,321,818	2,378,427	2,321,818
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss)
Beginning equity balance, value	(136,101)	(121,342)	(139,805)	(81,007)
Other comprehensive income before reclassifications	1,626	(3,852)	5,825	(44,686)
Amounts reclassified from accumulated other comprehensive loss to:
Amount reclassified from accumulated other comprehensive income (loss)	(303)	(383)	(358)	(618)
Total other comprehensive loss	1,323	(4,235)	5,467	(45,304)
Net current-period Other comprehensive gain attributable to noncontrolling interests	(108)	(103)	(548)	631
Ending equity balance, value	(134,886)	(125,680)	(134,886)	(125,680)
Accumulated Other Comprehensive Loss | Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense	1,869	1,913	5,492	6,044
Other income and (expenses)	(2,172)	(2,296)	(5,850)	(6,662)
Gains and Losses on Derivative Instruments
Accumulated Other Comprehensive Income (Loss)
Beginning equity balance, value	20,595	26,118	28,200	7,311
Other comprehensive income before reclassifications	(2,089)	(2,759)	(9,639)	16,283
Amounts reclassified from accumulated other comprehensive loss to:
Amount reclassified from accumulated other comprehensive income (loss)	(303)	(383)	(358)	(618)
Total other comprehensive loss	(2,392)	(3,142)	(9,997)	15,665
Net current-period Other comprehensive gain attributable to noncontrolling interests	0	0	0	0
Ending equity balance, value	18,203	22,976	18,203	22,976
Gains and Losses on Derivative Instruments | Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense	1,869	1,913	5,492	6,044
Other income and (expenses)	(2,172)	(2,296)	(5,850)	(6,662)
Gains and Losses on Marketable Securities
Accumulated Other Comprehensive Income (Loss)
Beginning equity balance, value	(63)	(92)	(77)	(106)
Other comprehensive income before reclassifications	8	7	22	21
Amounts reclassified from accumulated other comprehensive loss to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Total other comprehensive loss	8	7	22	21
Net current-period Other comprehensive gain attributable to noncontrolling interests	0	0	0	0
Ending equity balance, value	(55)	(85)	(55)	(85)
Gains and Losses on Marketable Securities | Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense	0	0	0	0
Other income and (expenses)	0	0	0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss)
Beginning equity balance, value	(156,633)	(147,368)	(167,928)	(88,212)
Other comprehensive income before reclassifications	3,707	(1,100)	15,442	(60,990)
Amounts reclassified from accumulated other comprehensive loss to:
Amount reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Total other comprehensive loss	3,707	(1,100)	15,442	(60,990)
Net current-period Other comprehensive gain attributable to noncontrolling interests	(108)	(103)	(548)	631
Ending equity balance, value	(153,034)	(148,571)	(153,034)	(148,571)
Foreign Currency Translation Adjustments | Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense	0	0	0	0
Other income and (expenses)	$ 0	$ 0	$ 0	$ 0

Property Dispositions (Narrativ

Property Dispositions (Narratives) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Gain on sale of real estate, net of tax	$ 82,287	$ 0	$ 132,702	$ 2,197
Payments of mortgage principal			155,183	114,867
Ishops
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Percentage of gain deferred					15.00%
Deferred gain on the sale of property	$ 2,200		$ 2,200
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations
Number of properties sold | property	22		34
Proceeds from sales of property	$ 151,300		$ 259,100
Gain on sale of real estate, net of tax	82,300		132,700
Payments of mortgage principal	41,800		84,700
Loss on extinguishment of debt	8,218	0	15,807	0
Impairment charges	$ 29,183	$ 0	$ 29,183	$ 0

Property Dispositions (Details

Property Dispositions (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	$ 110,076	$ 108,202	$ 326,487	$ 316,620
Expenses	(87,442)	(54,253)	(203,684)	(162,156)
Gain on sale of real estate, net of tax	82,287	0	132,702	2,197
(Loss) income before gain on sale of real estate	(15,242)	29,199	81,201	90,219
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures
Revenues	6,964	8,483	21,562	24,793
Expenses	(5,714)	(7,653)	(18,746)	(23,081)
Gain on sale of real estate, net of tax	82,287	0	132,702	2,197
Impairment charges	(29,183)	0	(29,183)	0
Loss on extinguishment of debt	(8,218)	0	(15,807)	0
(Loss) income before gain on sale of real estate	$ 46,136	$ 830	$ 90,528	$ 3,909

Segment Reporting (Narratives)

Segment Reporting (Narratives) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)
Segment Reporting [Abstract]
Impairment charges	$ 29,183	$ 0	$ 29,183	$ 1,023
Number of reportable segments | segment			2
Gain on change in control of interests	$ 0	$ 0	$ 49,922	$ 0

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information, Profit (Loss)
Revenues	$ 110,076	$ 108,202	$ 326,487	$ 316,620
Operating expenses (a)	(87,442)	(54,253)	(203,684)	(162,156)
Interest expense	(25,048)	(24,104)	(75,027)	(69,346)
Other income and expenses, excluding interest expense	(10,495)	1,030	39,955	9,542
Provision for income taxes	(2,333)	(1,676)	(6,530)	(4,441)
Gain on sale of real estate, net of tax	82,287	0	132,702	2,197
Net income	(8,827)	(9,147)	(28,404)	(29,345)
Net income attributable to CPA®:17 – Global	58,218	20,052	185,499	63,071
Operating Segments | Net Lease
Segment Reporting Information, Profit (Loss)
Revenues	98,243	92,081	286,214	271,705
Operating expenses (a)	(68,453)	(33,831)	(139,970)	(100,733)
Interest expense	(22,302)	(21,762)	(66,583)	(63,561)
Other income and expenses, excluding interest expense	3,592	2,292	9,324	9,365
Provision for income taxes	(590)	(1,038)	(2,570)	(2,584)
Gain on sale of real estate, net of tax	0	0	0	2,197
Net income	(3,551)	(3,310)	(10,601)	(11,655)
Net income attributable to CPA®:17 – Global	6,939	34,432	75,814	104,734
Operating Segments | Self-Storage
Segment Reporting Information, Profit (Loss)
Revenues	10,135	11,898	35,213	34,380
Operating expenses (a)	(7,717)	(8,002)	(28,632)	(24,049)
Interest expense	(2,211)	(1,927)	(6,746)	(5,729)
Other income and expenses, excluding interest expense	(15,991)	(403)	25,905	(1,428)
Provision for income taxes	(16)	(46)	(133)	(153)
Gain on sale of real estate, net of tax	82,287	0	132,702	0
Net income attributable to CPA®:17 – Global	66,487	1,520	158,309	3,021
Operating Segments | All Other
Segment Reporting Information, Profit (Loss)
Revenues	1,698	4,219	5,060	10,530
Operating expenses (a)	(29)	(38)	(81)	(1,682)
Interest expense	0	(47)	(6)	446
Other income and expenses, excluding interest expense	(603)	(3,327)	(2,999)	(1,138)
Provision for income taxes	(1,442)	(480)	(3,373)	(1,278)
Gain on sale of real estate, net of tax	0	0	0	0
Net income attributable to CPA®:17 – Global	(376)	327	(1,399)	6,878
Corporate
Segment Reporting Information, Profit (Loss)
Net income	(5,276)	(5,837)	(17,803)	(17,690)
Unallocated Corporate Overhead	$ (9,556)	$ (10,390)	$ (29,422)	$ (33,872)

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information, Additional Information
Long-Lived Assets	$ 3,675,791	$ 3,689,002
Assets	4,762,887	4,613,190
Operating Segments | Net Lease
Segment Reporting Information, Additional Information
Long-Lived Assets	3,190,781	3,169,885
Assets	3,864,659	3,956,239
Operating Segments | Self-Storage
Segment Reporting Information, Additional Information
Long-Lived Assets	241,662	261,273
Assets	255,441	269,081
Operating Segments | All Other
Segment Reporting Information, Additional Information
Long-Lived Assets	243,348	257,844
Assets	293,380	309,288
Corporate
Segment Reporting Information, Additional Information
Long-Lived Assets	0	0
Assets	$ 349,407	$ 78,582