Corporate Property Associates 18 Global (CPYA) 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 09, 2015
Document Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	1,558,235
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Registrant Name	Corporate Property Associates 18 Global Incorporated
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Class A
Document Entity Information [Abstract]
Entity Common Stock Shares Outstanding		103,246,075
Class C
Document Entity Information [Abstract]
Entity Common Stock Shares Outstanding		29,568,217

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments in real estate:
Real estate, at cost	$ 928,142	$ 743,735
Operating real estate, at cost	417,978	133,596
Accumulated depreciation	(33,054)	(11,814)
Net investments in properties	1,313,066	865,517
Real estate under construction (inclusive of $80,992 and $0, respectively, attributable to variable interest entities, or VIEs)	108,739	2,258
Net investments in direct financing leases	28,449	45,582
Note receivable	28,000	28,000
Net investments in real estate	1,478,254	941,357
Cash and cash equivalents (inclusive of $601 and $0, respectively, attributable to VIEs)	269,861	429,548
In-place lease intangible assets, net	202,353	167,635
Other intangible assets, net	25,659	25,667
Goodwill	20,325	9,692
Other assets, net (inclusive of $26,530 and $0, respectively, attributable to VIEs)	100,040	41,985
Total assets	2,096,492	1,615,884
Liabilities:
Non-recourse debt	804,758	430,462
Bonds payable	139,247	91,250
Deferred income taxes	41,601	28,753
Accounts payable, accrued expenses and other liabilities (inclusive of $3,397 and $0, respectively, attributable to VIEs)	60,773	26,911
Due to affiliate	29,365	20,651
Distributions payable	19,924	17,629
Total liabilities	$ 1,095,668	$ 615,656
Commitments and contingencies (Note 11)
CPA®:18 – Global stockholders’ equity:
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued	$ 0	$ 0
Additional paid-in capital	1,186,583	1,056,862
Distributions and accumulated losses	(212,083)	(111,878)
Accumulated other comprehensive loss	(40,548)	(20,941)
Less: treasury stock at cost, 744,225 and 155,246 shares, respectively	(7,141)	(1,520)
Total CPA®:18 – Global stockholders’ equity	926,943	922,641
Noncontrolling interests	73,881	77,587
Total equity	1,000,824	1,000,228
Total liabilities and equity	2,096,492	1,615,884
Class A common stock
CPA®:18 – Global stockholders’ equity:
Common stock	103	100
Total equity	103	100
Class C common stock
CPA®:18 – Global stockholders’ equity:
Common stock	29	18
Total equity	$ 29	$ 18

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Real estate under construction	$ 108,739	$ 2,258
Cash and cash equivalents	269,861	429,548
Other assets	100,040	41,985
Liabilities:
Accounts payable and accrued liabilities	$ 60,773	$ 26,911
CPA®:18 – Global stockholders’ equity:
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Treasury stock, shares	744,225	155,246
Class A common stock
CPA®:18 – Global stockholders’ equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	320,000,000	320,000,000
Common stock, shares issued	103,059,924	100,079,255
Common stock, shares outstanding	102,360,384	99,924,009
Class C common stock
CPA®:18 – Global stockholders’ equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	29,338,963	18,026,013
Common stock, shares outstanding	29,294,278	18,026,013
VIE
Assets
Real estate under construction	$ 80,815	$ 0
Cash and cash equivalents	601	0
Other assets	26,530	0
Liabilities:
Accounts payable and accrued liabilities	$ 3,397	$ 0

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Lease revenues:
Rental income	$ 20,628	$ 11,163	$ 56,054	$ 27,293
Interest income from direct financing leases	1,047	1,012	3,079	2,437
Total lease revenue	21,675	12,175	59,133	29,730
Other real estate income	12,308	1,052	27,332	1,988
Other operating income	2,376	1,103	6,128	1,954
Other interest income	710	552	2,120	552
Total revenues	37,069	14,882	94,713	34,224
Operating Expenses
Depreciation and amortization	17,652	5,647	44,303	13,485
Acquisition expenses (inclusive of $6,851, $4,915, $25,532, and $23,808, respectively, to a related party)	10,795	8,861	34,575	31,827
Property expenses (inclusive of $2,098, $713, $5,244, and $1,647, respectively, to a related party)	5,612	2,166	13,703	4,463
Other real estate expenses	5,380	389	11,660	666
General and administrative (inclusive of $1,180, $386, $2,788, and $645, respectively, to a related party)	2,735	1,517	6,459	3,329
Operating Expenses	42,174	18,580	110,700	53,770
Other Income and Expenses
Interest expense (inclusive of $101, $43, $274, and $97, respectively, to a related party)	(7,970)	(4,311)	(24,065)	(10,163)
Other income and (expenses)	(2,324)	(2,100)	(4,256)	(1,731)
Other Income and Expenses	(10,294)	(6,411)	(28,321)	(11,894)
Loss before income taxes	(15,399)	(10,109)	(44,308)	(31,440)
Benefit from income taxes	1,062	644	854	422
Loss before gain on sale of real estate	(14,337)	(9,465)	(43,454)	(31,018)
Gain on sale of real estate, net of tax	6,654	0	6,654	0
Loss before gain on sale of real estate	(7,683)	(9,465)	(36,800)	(31,018)
Net (income) loss attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,705, $590, $4,021, and $1,196, respectively)	(2,092)	(1,136)	(5,096)	1,389
Net Loss Attributable to CPA®:18 – Global	(9,775)	(10,601)	(41,896)	(29,629)
Class A
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global	$ (7,078)	$ (9,426)	$ (31,659)	$ (26,695)
Basic and diluted weighted-average shares outstanding	102,293,880	99,007,256	101,471,695	71,680,784
Net loss per share (in dollars per share)	$ (0.07)	$ (0.10)	$ (0.31)	$ (0.37)
Distributions declared per share (in dollars per share)	$ 0.1563	$ 0.1562	$ 0.4687	$ 0.4686
Class C
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global	$ (2,697)	$ (1,175)	$ (10,237)	$ (2,934)
Basic and diluted weighted-average shares outstanding	29,279,706	9,925,481	26,925,898	6,646,337
Net loss per share (in dollars per share)	$ (0.09)	$ (0.12)	$ (0.38)	$ (0.44)
Distributions declared per share (in dollars per share)	$ 0.1340	$ 0.1329	$ 0.3998	$ 0.3987

Consolidated Statement of Oper5

Consolidated Statement of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Expenses
Acquisition expenses	$ 10,795	$ 8,861	$ 34,575	$ 31,827
General and administrative expense	2,735	1,517	6,459	3,329
Interest expense, related party	101	43	274	97
Distributions of available cash	1,705	590	4,021	1,196
Related Party
Operating Expenses
Acquisition expenses	6,851	4,915	25,532	23,808
Property expense	2,098	713	5,244	1,647
General and administrative expense	$ 1,180	$ 386	$ 2,788	$ 645

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Loss	$ (7,683)	$ (9,465)	$ (36,800)	$ (31,018)
Other Comprehensive Loss
Foreign currency translation adjustments	(6,724)	(11,443)	(28,202)	(13,143)
Change in net unrealized gain on derivative instruments	837	1,888	3,115	756
Other Comprehensive Loss	(5,887)	(9,555)	(25,087)	(12,387)
Comprehensive Loss	(13,570)	(19,020)	(61,887)	(43,405)
Amounts Attributable to Noncontrolling Interests
Net (income) loss	(2,092)	(1,136)	(5,096)	1,389
Foreign currency translation adjustments	1,300	3,252	5,480	3,751
Comprehensive (income) loss attributable to noncontrolling interests	(792)	2,116	384	5,140
Comprehensive Loss Attributable to CPA®:18 – Global	$ (14,362)	$ (16,904)	$ (61,503)	$ (38,265)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Distributions and Accumulated Losses	Accumulated Other Comprehensive Loss	Treasury Stock	Total CPA 18 - Global Stockholders	Noncontrolling Interests	Class A	Class C
Beginning equity balance, value at Dec. 31, 2013	$ 250,471	$ 215,371	$ (2,567)	$ (94)		$ 212,734	$ 37,737	$ 21	$ 3
Beginning equity balance, shares at Dec. 31, 2013								21,290,097	2,776,001
Statements of Equity
Shares issued net of offering cost, value	779,904	779,817				779,904		$ 78	$ 9
Shares issued net of offering cost, shares								77,725,349	9,466,047
Shares issued to affiliate, value	1,435	1,435				1,435
Shares issued to affiliate, shares								143,482
Stock based compensation, value	99	99				99
Stock-based compensation, shares								11,110
Contributions from noncontrolling interests	95,889						95,889
Distributions to noncontrolling interests	(67,385)						(67,385)
Distributions declared	(35,816)		(35,816)			(35,816)
Net Loss	(31,018)		(29,629)			(29,629)	(1,389)
Other comprehensive loss:
Foreign currency translation adjustments	(13,143)			(9,392)		(9,392)	(3,751)
Change in unrealized loss on derivative instrument	756			756		756
Repurchase of shares, value	(371)				$ (371)	(371)
Repurchase of shares, shares								(37,160)
Ending equity balance, value at Sep. 30, 2014	980,821	996,722	(68,012)	(8,730)	(371)	919,720	61,101	$ 99	$ 12
Ending equity balance, shares at Sep. 30, 2014								99,132,878	12,242,048
Beginning equity balance, value at Dec. 31, 2014	1,000,228	1,056,862	(111,878)	(20,941)	(1,520)	922,641	77,587	$ 100	$ 18
Beginning equity balance, shares at Dec. 31, 2014								99,924,009	18,026,013
Statements of Equity
Shares issued net of offering cost, value	124,728	124,715				124,728		$ 2	$ 11
Shares issued net of offering cost, shares								2,478,960	11,312,950
Shares issued to affiliate, value	4,907	4,906				4,907		$ 1
Shares issued to affiliate, shares								490,598
Stock based compensation, value	100	100				100		$ 0
Stock-based compensation, shares								11,111
Contributions from noncontrolling interests	4,132						4,132
Distributions to noncontrolling interests	(7,454)						(7,454)
Distributions declared	(58,309)		(58,309)			(58,309)
Net Loss	(36,800)		(41,896)			(41,896)	5,096
Other comprehensive loss:
Foreign currency translation adjustments	(28,202)			(22,722)		(22,722)	(5,480)
Change in unrealized loss on derivative instrument	3,115			3,115		3,115
Repurchase of shares, value	(5,621)				(5,621)	(5,621)
Repurchase of shares, shares								(544,294)	(44,685)
Ending equity balance, value at Sep. 30, 2015	$ 1,000,824	$ 1,186,583	$ (212,083)	$ (40,548)	$ (7,141)	$ 926,943	$ 73,881	$ 103	$ 29
Ending equity balance, shares at Sep. 30, 2015								102,360,384	29,294,278

Consolidated Statements of Equ8

Consolidated Statements of Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class A
Statements of Equity
Distributions declared per share (in dollars per share)	$ 0.1563	$ 0.1562	$ 0.4687	$ 0.4686
Class C
Statements of Equity
Distributions declared per share (in dollars per share)	$ 0.1340	$ 0.1329	$ 0.3998	$ 0.3987

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows — Operating Activities
Net Cash Provided by (Used in) Operating Activities	$ 24,380	$ (411)
Cash Flows — Investing Activities
Acquisitions of real estate and direct financing leases, net of cash acquired	(662,565)	(481,947)
Funding and advances for build-to-suit projects	35,674	0
Funding and advances for build-to-suit projects	(34,978)	(5,725)
Change in investing restricted cash	(7,208)	(4,897)
Acquisition of equity investment	(5,517)	0
Deposits for investments	(4,000)	0
Value added taxes paid in connection with acquisition of real estate	(3,407)	(35,136)
Payment of deferred acquisition fees to an affiliate	(2,995)	(978)
Value added taxes refunded in connection with the acquisition of real estate	0	36,472
Investment in note receivable	0	(28,000)
Net Cash Used in Investing Activities	(684,996)	(520,211)
Cash Flows — Financing Activities
Proceeds from mortgage financing	436,656	223,651
Proceeds from issuance of shares, net of issuance costs	125,243	785,518
Proceeds from bond financing	66,328	52,066
Distributions paid	(56,014)	(20,852)
Scheduled payments and prepayments of mortgage principal	(49,082)	(1,163)
Payment of deferred financing costs and mortgage deposits	(8,313)	(2,954)
Distributions to noncontrolling interests	(7,454)	(67,385)
Purchase of treasury stock	(5,621)	(371)
Contributions from noncontrolling interests	2,692	95,889
Receipt of tenant security deposits	(65)	4,072
Net Cash Provided by Financing Activities	504,370	1,068,471
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash and cash equivalents	(3,441)	(4,782)
Net (decrease) increase in cash and cash equivalents	(159,687)	543,067
Cash and cash equivalents, beginning of period	429,548	109,061
Cash and cash equivalents, end of period	$ 269,861	$ 652,128

Organization and Offering

Organization and Offering	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Offering	Organization and Offering Organization Corporate Property Associates 18 – Global Incorporated, or CPA ® :18 – 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 a diversified portfolio of income-producing commercial real estate properties leased to companies and other real estate related assets, both domestically and outside the United States. We were formed in 2012 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 ® :18 Limited Partnership, a Delaware limited partnership, which is our Operating Partnership, and at September 30, 2015 we owned 99.97% of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by WPC–CPA ® :18 Holdings, LLC, or CPA ® :18 Holdings, a subsidiary of our sponsor, WPC. At September 30, 2015 , the majority of our portfolio was comprised of full or partial ownership interests in 54 properties, the majority of which were fully-occupied and triple-net leased to 94 tenants totaling 8.2 million square feet. The remainder of our portfolio was comprised of our full or partial ownership interests in 44 self-storage properties, six multi-family properties, and one student housing development totaling 5.0 million square feet. Our advisor provides both strategic and day-to-day management services for us, including capital funding services, investment research and analysis, investment financing and other investment-related services, asset management, disposition of assets, investor relations, and administrative services. W. P. Carey & Co. B.V., an affiliate of our advisor, provides asset management services with respect to our foreign investments. Public Offering On May 7, 2013, we commenced our initial public offering of up to $1.4 billion in shares of our common stock, in any combination of Class A and Class C shares, including $150.0 million in shares of common stock through our distribution reinvestment plan at a price of $9.60 per share of Class A common stock and $8.98 per share of Class C common stock. We ceased accepting new orders for shares of Class A and Class C common stock on June 30, 2014 and March 27, 2015, respectively. Through the closing of our initial public offering on April 2, 2015, we raised gross offering proceeds for our Class A common stock and Class C common stock of $977.4 million and $266.1 million , respectively, which excludes reinvested distributions through our distribution reinvestment plan. Through September 30, 2015 , proceeds from our distribution reinvestment plan were $42.0 million and $7.9 million for our Class A and Class C common stock, respectively.

Revisions of Previously-Issued

Revisions of Previously-Issued Financial Statements	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Revisions of Previously-Issued Financial Statements	Revisions of Previously-Issued Financial Statements 2015 Revisions Description of the Errors and Revisions During the second quarter of 2015, we identified errors in the interim consolidated financial statements for the three months ended March 31, 2015 related to the classification of certain activities within the statement of cash flows and one error related to the capitalization of financing costs associated with the refinancing of a mortgage loan. We evaluated the impact of these errors on the previously-issued financial statements and concluded that these errors were not material to our consolidated financial statements as of and for the three months ended March 31, 2015. However, in order to correctly present the aforementioned errors, we will revise the consolidated statements of operations and cash flows for the three months ended March 31, 2015 when such statements are presented in our future public filings. The revisions described below had no effect on our cash balances or liquidity as of March 31, 2015. The interim consolidated financial statements as of and for the three and nine months ended September 30, 2015 are not impacted by these adjustments. Errors Associated with Cash Flow Classification We identified errors in our consolidated statement of cash flows for the three months ended March 31, 2015 as follows (in thousands): Three Months Ended March 31, 2015 As Reported Revisions As Revised Net Cash Provided by Operating Activities $ 9,586 $ 3,085 (a) (b) (c) (d) $ 12,671 Net Cash Used in Investing Activities (145,309 ) 536 (a) (144,773 ) (1,923 ) (b) 948 (c) Net Cash Provided by Financing Activities 248,240 (975 ) 247,265 Change in Cash and Cash Equivalents During the Period Effect of exchange rate changes on cash and cash equivalents (2,971 ) (2,646 ) (a) (d) (5,617 ) Net increase in cash and cash equivalents 109,546 — 109,546 Cash and cash equivalents, beginning of period 429,548 — 429,548 Cash and cash equivalents, end of period $ 539,094 $ — $ 539,094 ___________ (a) These items relate to an error in classification of cash flows for an acquisition of real estate; whereby Net cash provided by operating activities was overstated by $1.0 million , Net cash used in investing activities was overstated by $0.5 million and the Effect of exchange rate changes on cash and cash equivalents should have been increased by $0.5 million . (b) These items relate to an error of classification of cash flows related to the settlement of proceeds from the sale of shares and an error in the classification of cash flows for offering costs, whereby Net cash provided by operating activities was understated by $1.9 million and Net cash provided by financing activities was overstated by the same amount. (c) These items relate to an error in the capitalization of financing costs as described below, whereby Net cash provided by operating activities was overstated by $0.9 million and Net cash provided by financing activities was understated by the same amount. (d) These items relate to an error in the classification of the remeasurement of foreign cash balances held in U.S. dollar functional currency subsidiaries, whereby Net cash provided by operating activities was understated by $3.1 million and the Effect of exchange rate changes on cash and cash equivalents should have been decreased by the same amount. In summary, if these cash flow classification items had been properly presented within the consolidated statement of cash flows for the three months ended March 31, 2015, Net cash provided by operating activities would have increased by $3.1 million , Net cash used in investing activities would have decreased by $0.5 million , Net cash provided by financing activities would have decreased by $1.0 million and the Effect of exchange rate changes on cash and cash equivalents would have decreased by $2.6 million , with no change in the Net increase in cash and cash equivalents. Error Associated with Financing Costs In addition to the classification errors described above, we identified an error related to the capitalization of financing costs associated with the refinancing of a mortgage loan, which should have been recorded as Interest expense within our consolidated statement of operations for the three months ended March 31, 2015. If interest expense had been recorded correctly on the consolidated statement of operations, Interest expense, Loss before income taxes, Net loss, and Net loss attributable to CPA ® :18 – Global each would have been higher by $0.9 million and Net loss per share for Class A and Class C common stock would have been higher by $0.01 on the consolidated statement of operations. This also would have resulted in a corresponding decrease of $0.9 million to Other assets, Total assets, Distributions and accumulated losses, and Total equity within the consolidated balance sheet and, where applicable, within the consolidated statement of equity. In addition, the amounts for Net loss, Comprehensive loss and Comprehensive loss attributable to CPA ® :18 – Global on the consolidated statement of comprehensive loss for the three months ended March 31, 2015 each would have increased by $0.9 million . 2014 Revisions Description of the Error and Revision In the course of preparing our consolidated financial statements for the 2014 Annual Report, we discovered an error related to our accounting for a subsidiary’s functional currency, which was incorrectly designated as the euro instead of the U.S. dollar, and as a result, the applicable financial results of this entity were being translated when they should have been remeasured. The correction of this error resulted in an increase of foreign currency losses within the consolidated statement of operations and a decrease of foreign currency losses in the consolidated statements of comprehensive loss for the same amounts. We concluded that these revision adjustments, summarized in the tables below, were not material to our financial position or results of operations for the prior periods presented and revised the prior periods presented herein to reflect the correction of this error. We corrected this error, and one other error previously recorded as an out-of-period adjustment, and revised our consolidated financial statements for all prior periods impacted. Accordingly, our financial results for the prior periods presented herein have been revised for the correction of such errors as follows (in thousands, except share and per share amounts): Consolidated Statements of Operations Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Revisions As Revised As Reported Revisions As Revised Revenues Total revenues $ 14,882 $ — $ 14,882 $ 34,224 $ — $ 34,224 Operating Expenses Total operating expenses 18,580 — 18,580 53,770 — 53,770 Other Income and Expenses Interest expense (4,311 ) — (4,311 ) (10,163 ) — (10,163 ) Other income and (expenses) (a) 852 (2,952 ) (2,100 ) 1,814 (3,545 ) (1,731 ) (3,459 ) (2,952 ) (6,411 ) (8,349 ) (3,545 ) (11,894 ) Loss before income taxes (7,157 ) (2,952 ) (10,109 ) (27,895 ) (3,545 ) (31,440 ) Benefit from income taxes 644 — 644 422 — 422 Net Loss (6,513 ) (2,952 ) (9,465 ) (27,473 ) (3,545 ) (31,018 ) Net (income) loss attributable to noncontrolling interests (1,136 ) — (1,136 ) 1,389 — 1,389 Net Loss Attributable to CPA ® :18 – Global $ (7,649 ) $ (2,952 ) $ (10,601 ) $ (26,084 ) $ (3,545 ) $ (29,629 ) Class A Common Stock Net loss attributable to CPA ® :18 – Global $ (6,743 ) $ (2,683 ) $ (9,426 ) $ (23,451 ) $ (3,244 ) $ (26,695 ) Basic and diluted weighted-average shares outstanding 99,007,256 — 99,007,256 71,680,784 — 71,680,784 Basic and diluted loss per share $ (0.07 ) $ (0.03 ) $ (0.10 ) $ (0.33 ) $ (0.04 ) $ (0.37 ) Class C Common Stock Net loss attributable to CPA ® :18 – Global $ (906 ) $ (269 ) $ (1,175 ) $ (2,633 ) $ (301 ) $ (2,934 ) Basic and diluted weighted-average shares outstanding 9,925,481 — 9,925,481 6,646,337 — 6,646,337 Basic and diluted loss per share $ (0.09 ) $ (0.03 ) $ (0.12 ) $ (0.40 ) $ (0.04 ) $ (0.44 ) Consolidated Statements of Comprehensive Loss Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Revisions As Revised As Reported Revisions As Revised Net Loss (a) $ (6,513 ) $ (2,952 ) $ (9,465 ) $ (27,473 ) $ (3,545 ) $ (31,018 ) Other Comprehensive Loss Foreign currency translation adjustments (a) (14,395 ) 2,952 (11,443 ) (16,688 ) 3,545 (13,143 ) Change in net unrealized gain on derivative instruments 1,888 — 1,888 756 — 756 (12,507 ) 2,952 (9,555 ) (15,932 ) 3,545 (12,387 ) Comprehensive Loss (19,020 ) — (19,020 ) (43,405 ) — (43,405 ) Amounts Attributable to Noncontrolling Interests Net (income) loss (1,136 ) — (1,136 ) 1,389 — 1,389 Foreign currency translation adjustments 3,252 — 3,252 3,751 — 3,751 Comprehensive loss attributable to noncontrolling interests 2,116 — 2,116 5,140 — 5,140 Comprehensive Loss Attributable to CPA ® :18 – Global $ (16,904 ) $ — $ (16,904 ) $ (38,265 ) $ — $ (38,265 ) Consolidated Statement of Equity CPA ® :18 – Global Stockholders Additional Paid-In Capital Distributions and Accumulated Losses (a) Accumulated Other Comprehensive Loss (a) Total CPA ® :18 – Global Stockholders Noncontrolling Interests Common Stock Class A Class C Balance at September 30, 2014 Shares Amount Shares Amount Treasury Stock Total As Reported 99,132,878 $ 99 12,242,048 $ 12 $ 996,722 $ (64,467 ) $ (12,275 ) $ (371 ) $ 919,720 $ 61,101 $ 980,821 Revisions — — — — — (3,545 ) 3,545 — — — — As Revised 99,132,878 $ 99 12,242,048 $ 12 $ 996,722 $ (68,012 ) $ (8,730 ) $ (371 ) $ 919,720 $ 61,101 $ 980,821 ___________ (a) These adjustments are the result of the error we identified related to foreign currency matters, as discussed above. Statement of Cash Flows These revisions had no net impact on Net cash used in operating activities, Net cash used in investing activities, or Net cash provided by financing activities in the statement of cash flows for the nine months ended September 30, 2014 .

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [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 accounting principles generally accepted 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, 2014, which are included in the 2014 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. 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. When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed to be a VIE, and, if so, whether we should be deemed to be the primary beneficiary and are therefore required to consolidate the entity. We apply accounting guidance for consolidation of VIEs to certain entities in which the equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. Fixed price purchase and renewal options within a lease, as well as certain decision-making rights within a loan or joint-venture agreement, can cause us to consider an entity a VIE. Significant judgment is required to determine whether a VIE should be consolidated. We review the 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 to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of our assessment, at September 30, 2015 we considered three entities VIEs, two of which we consolidate and the other we account for as an equity investment. For an entity that is not considered to be a VIE, but rather a voting interest entity, the general partners in a limited partnership (or similar entity) are presumed to control the entity regardless of the level of their ownership and, accordingly, may be required to consolidate the entity. We evaluate the partnership agreements or other relevant contracts to determine whether there are provisions in the agreements that would overcome this presumption. If the agreements provide the limited partners with either (i) the substantive ability to dissolve or liquidate the limited partnership or otherwise remove the general partners without cause or (ii) substantive participating rights, the limited partners’ rights overcome the presumption of control by a general partner of the limited partnership, and, therefore, the general partner must account for its investment in the limited partnership using the equity method of accounting. Additionally, we own an interest in a self-storage development joint venture through a noncontrolling interest in a partnership and limited liability company that we do not control, but over which we exercise significant influence. We account for this investment under the equity method of accounting. At times, the carrying value of our equity investment may fall below zero. We intend to fund our share of the jointly-owned investment’s future operating deficits should the need arise. However, we have no legal obligation to pay for any of the liabilities of such an investment nor do we have any legal obligation to fund operating deficits. At September 30, 2015 , our sole equity investment did not have a carrying value below zero. Recent Accounting Requirements The following Accounting Standards Updates, or ASUs, promulgated by the Financial Accounting Standards Board are applicable to us: ASU 2015-16, Business Combinations (Topic 805) — ASU 2015-16 requires that an acquirer recognize adjustments identified during the business combination measurement period in the reporting period in which the adjustment amounts are determined. The effects on earnings due to changes in depreciation, amortization, or other income effects as a result of the change are also recognized in the same period’s financial statements. ASU 2015-16 also requires that acquirers present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, early adoption is permitted and prospective application is required for adjustments that are identified after the effective date of this update. We elected to early adopt ASU 2015-16 and implemented the standard prospectively beginning July 1, 2015. The adoption and implementation of the standard did not have a material impact on our financial statements. ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) — ASU 2015-03 changes the presentation of debt issuance costs, which are currently recognized as a deferred charge (that is, an asset) and requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 does not affect the recognition and measurement guidance for debt issuance costs. ASU 2015-03 is effective for periods beginning after December 15, 2015, early adoption is permitted and retrospective application is required. We are currently evaluating the impact of ASU 2015-03 on our consolidated financial statements. 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 Financial Accounting Standards Board issued ASU 2015-14, which defers the effective date of ASU 2014-09 for all entities by one year, until years beginning in 2018, with early adoption permitted but not before 2017, the original public company effective date. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard.

Agreements and Transactions wit

Agreements and Transactions with Related Parties	9 Months Ended
	Sep. 30, 2015
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. The current advisory agreement will expire on December 31, 2015 and is scheduled to renew annually thereafter with our approval. 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 terms of the related agreements (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Amounts Included in the Consolidated Statements of Operations Acquisition expenses $ 6,851 $ 4,915 $ 25,532 $ 23,808 Asset management fees 2,098 713 5,244 1,647 Available Cash Distributions 1,705 590 4,021 1,196 Shareholder servicing fee 671 230 1,836 459 Personnel and overhead reimbursements 409 57 852 87 Interest expense on deferred acquisition fees 101 43 274 97 Stock-based compensation 100 99 100 99 $ 11,935 $ 6,647 $ 37,859 $ 27,393 Other Transaction Fees Incurred Current acquisition fees $ 677 $ — $ 7,052 $ 1,251 Deferred acquisition fees 542 — 5,641 1,000 Offering costs 48 640 613 2,626 Selling commissions and dealer manager fees — 2,695 3,746 79,926 $ 1,267 $ 3,335 $ 17,052 $ 84,803 The following table presents a summary of amounts included in Due to affiliate in the consolidated financial statements (in thousands): September 30, 2015 December 31, 2014 Due to Affiliate Deferred acquisition fees, including interest $ 24,180 $ 17,525 Accounts payable 2,858 2,702 Current acquisition fees 1,355 — Asset management fees payable 716 378 Reimbursable costs 256 46 $ 29,365 $ 20,651 Organization and Offering Costs Pursuant to the advisory agreement with our advisor, we were liable for certain expenses related to our initial public offering, which include filing, legal, accounting, printing, advertising, transfer agent, and escrow fees, and were deducted from the gross proceeds of the offering. We reimbursed Carey Financial LLC, or Carey Financial, our dealer manager and an affiliate of our advisor, or selected dealers for reasonable bona fide due diligence expenses incurred that were supported by a detailed and itemized invoice. The total underwriting compensation to Carey Financial and selected dealers in connection with the offering cannot exceed limitations prescribed by the Financial Industry Regulatory Authority, Inc. Our advisor has agreed to be responsible for the repayment of organization and offering expenses (excluding selling commissions and dealer manager fees paid to Carey Financial and selected dealers and fees paid and expenses reimbursed to selected dealers) that exceed, in the aggregate, 1.5% of the gross proceeds from the initial public offering. From inception and through September 30, 2015 , our advisor incurred organization and offering costs of $8.7 million on our behalf, which we have fully repaid and charged to stockholders’ equity. Loans from WPC Our board of directors and the board of directors of WPC have approved unsecured loans from WPC to us of up to $100.0 million , in the aggregate, at a rate equal to the rate at which WPC is able to borrow funds under its senior credit facility, for the purpose of facilitating acquisitions approved by our advisor’s investment committee that we would not otherwise have sufficient available funds to complete. All loans are to be made solely at the discretion of WPC’s management. We did not borrow any funds from WPC during the three and nine months ended September 30, 2015 and 2014 , nor did we have any amounts outstanding at September 30, 2015 or December 31, 2014 . Asset Management Fees Pursuant to the advisory agreement, our advisor is entitled to an annual asset management fee ranging from 0.5% to 1.5% , depending on the type of investment and based on the average market value or average equity value, as applicable, of our investments. For 2014, the asset management fees were payable in cash or shares of our Class A common stock at the option of our advisor. We amended the advisory agreement for 2015, so that the asset management fees are payable in cash or shares of our Class A 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, if net asset values have not yet been published, as is currently the case, $10.00 per share, which is the price at which our Class A shares were sold in our initial public offering. For 2015 and 2014, we paid our advisor in shares of our Class A common stock. For both the three and nine months ended September 30, 2015 and 2014 , our advisor received its asset management fees in shares of our Class A common stock. At September 30, 2015 , our advisor owned 751,111 shares, or 0.7% , of our outstanding Class A common stock. Asset management fees are included in Property expenses in the consolidated financial statements. Broker Dealer Fees Pursuant to our dealer manager agreement, Carey Financial received a selling commission in connection with our initial public offering of $0.70 and $0.14 per share sold and a dealer manager fee of $0.30 and $0.21 per share sold for the Class A and Class C common stock, respectively. Our initial public offering terminated on April 2, 2015. These amounts were recorded in Additional paid-in capital in the consolidated financial statements. Carey Financial also receives an annual distribution and shareholder servicing fee in connection with our Class C common stock, which it may re-allow to selected dealers. The amount of the shareholder servicing fee is 1.0% of the selling price per share for the Class C common stock in our initial public offering, or, once published, the amount of our net asset value. The shareholder servicing fee accrues daily and is payable quarterly in arrears. We will no longer incur the shareholder servicing fee beginning on the date at which, in the aggregate, underwriting compensation from all sources, including the shareholder servicing fee, any organizational and offering fee paid for underwriting and underwriting compensation paid by WPC and its affiliates, reaches 10.0% of the gross proceeds from our initial public offering, which it has not yet reached. The shareholder servicing fee is included in General and administrative expenses in the consolidated financial statements. Acquisition and Disposition Fees Our advisor receives acquisition fees, a portion of which is payable upon acquisition, while the remaining portion is subordinated to a preferred return of a non-compounded cumulative distribution of 5.0% per annum (based initially on our invested capital). The initial acquisition fee and subordinated acquisition fee are 2.5% and 2.0% , respectively, of the aggregate total cost of our portion of each investment for all investments, other than those in readily-marketable real estate securities purchased in the secondary market, for which our advisor will not receive any acquisition fees. Deferred acquisition fees are scheduled to be paid in three equal annual installments following the quarter in which a property was purchased. Unpaid deferred acquisition fees are included in Due to affiliate in the consolidated financial statements. The total acquisition fees to be paid (initial and subordinated, and including interest thereon) may not exceed 6.0% of the aggregate contract purchase price of all investments and loans. In addition, pursuant to the advisory agreement, 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. 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 publicly-owned, non-listed REITs that are managed by our advisor, including Corporate Property Associates 17 – Global Incorporated, or CPA ® :17 – Global, or, together with us, the CPA ® REITs, Carey Watermark Investors Incorporated, or CWI, and Carey Watermark Investors 2 Incorporated, or CWI 2. Our advisor allocates these expenses to us on the basis of our trailing four quarters of reported revenues and 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 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 for different types of transactions, including 0.25% of the total investment cost of an acquisition. Personnel and overhead reimbursements are included in General and administrative expenses in the consolidated financial statements. Excess Operating Expenses The advisory agreement provides that, for any four trailing quarters (with quoted variables as defined in the advisory agreement), “operating expenses” may not exceed the greater of 2.0% of our “average invested assets” or 25.0% of our “adjusted net income.” For the most recent four trailing quarters, our operating expenses were below this threshold. Available Cash Distributions CPA ® :18 Holdings’ interest in the Operating Partnership entitles it to receive distributions of 10.0% of the available cash generated by 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. Available Cash Distributions are included in Net (income) loss attributable to noncontrolling interests in the consolidated financial statements. Jointly-Owned Investments and Other Transactions with our Affiliate At September 30, 2015 , we owned interests in four jointly-owned investments, with the remaining interests held by our affiliate CPA ® :17 – Global. The amounts listed below are the original investment amounts at the closing of each respective investment: • $108.3 million , of which our share was $55.2 million , or 51% , for an office facility located in Stavanger, Norway on October 31, 2014; • $147.9 million , of which our share was $74.0 million , or 50% , for an office facility located in Warsaw, Poland on March 31, 2014; • $97.0 million , of which our share was $77.6 million , or 80% , for a retail portfolio consisting of five properties located in Croatia on December 18, 2013; and • $115.6 million , of which our share was $57.8 million , or 50% , for an office facility located in Austin, Texas on August 20, 2013. We consolidate all of the above joint ventures because we are either the majority equity holder and/or control the significant activities of the ventures. Additionally, no other parties, including CPA ® :17 – Global, hold any rights that overcome our control. We account for CPA ® :17 – Global’s share of these investments as noncontrolling interests.

Net Investments in Properties

Net Investments in Properties	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Net Investments in Properties	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, 2015 December 31, 2014 Land $ 173,505 $ 104,604 Buildings 754,637 639,131 Less: Accumulated depreciation (25,810 ) (10,875 ) $ 902,332 $ 732,860 The carrying value of our Real estate decreased by $49.9 million from December 31, 2014 to September 30, 2015 , due to the strengthening of the U.S. dollar relative to foreign currencies during the same period. Operating Real Estate Operating real estate, which consists of our self-storage and multi-family properties, at cost, is summarized as follows (in thousands): September 30, 2015 December 31, 2014 Land $ 74,811 $ 28,040 Buildings 343,167 105,556 Less: Accumulated depreciation (7,244 ) (939 ) $ 410,734 $ 132,657 During the nine months ended September 30, 2015 , we acquired 38 new investments. Of these investments, five were deemed to be asset acquisitions, 31 were considered to be business combinations, one was deemed to be a direct finance lease ( Note 6 ), and one was deemed to be an equity method investment. We refer to these investments as our 2015 Acquisitions. Asset Acquisitions Acosta — On July 10, 2015, we acquired an office building in Jacksonville, Florida from a party affiliated with the tenant for $16.5 million . The facility is leased to Acosta, Inc. On August 4, 2015, we entered into a mortgage loan in the amount of $10.7 million for this property ( Note 10 ). See the Real Estate Under Construction section below for more information regarding our other asset acquisitions. Business Combinations Business Combinations — Net-Leased Properties During the nine months ended September 30, 2015 , we acquired the following investments that were deemed to be business combinations because we assumed the existing leases on the properties, for which the sellers were not the lessees, and expensed aggregate acquisition costs of $17.0 million . The purchase prices for each of our business combination acquisitions were allocated to the assets acquired and liabilities assumed based upon their preliminary fair values. The information for such allocation 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 these assets acquired and liabilities assumed are subject to change. Exelon — On September 1, 2015, we acquired the regional headquarters and nuclear power plant monitoring facility of Exelon Generation Company, or Exelon, located in Warrenville, Illinois from an unaffiliated third-party for $32.9 million . We simultaneously entered into a mortgage loan in the amount of $22.6 million ( Note 10 ). Jacobsweerd — On July 30, 2015, we acquired an office building located in Utrecht, Netherlands from an unaffiliated third party for $46.2 million , which is based on the exchange rate of the euro on the date of acquisition. The facility, which we refer to as Jacobsweerd, is leased to four Dutch government agencies. We simultaneously entered into a mortgage loan in the amount of $30.1 million for the building ( Note 10 ), which is based on the exchange rate of the euro on the date of acquisition. The purchase consideration for this investment also included a rent guarantee from the seller regarding the vacant space on this property. As a result, we recognized a contingent asset in the amount of $0.6 million , which is equal to the fair value ( Note 8 ) of the rent guarantee, and we will mark the guarantee to market through earnings in subsequent periods. COOP — On May 28, 2015, we acquired a 90% controlling interest in a jointly-owned investment with a third party that purchased a retail site located in Oslo, Norway from an unaffiliated third party, COOP Norge Eiendom, for $98.0 million , which is based on the exchange rate of the Norwegian krone on the date of acquisition. This is a multi-tenant facility with the largest tenant being COOP Ost AS, or COOP, which is an affiliate of COOP Norge Eiendom. Our joint-venture partner is the third-party asset manager. We incurred debt at closing through the issuance of privately-placed bonds in the amount of $64.2 million , which is based on the exchange rate of the Norwegian krone on the date of acquisition ( Note 10 ). This investment was a share transaction, and as a result, we assumed the historical tax basis of the property owned by the entity that we purchased and, therefore, recorded a deferred tax liability of $16.7 million and goodwill of $12.5 million (Note 7) . The purchase consideration for this investment also included a rent guarantee from the seller regarding the vacant space on this property. As a result, we recognized a contingent asset in the amount of $0.8 million , which is equal to the fair value ( Note 8 ) of the rent guarantee, and we will mark the guarantee to market through earnings in subsequent periods. In July 2015, our joint-venture partner agreed to a debt-to-equity conversion of a portion of the loan they made to the property at the acquisition date. As a result, we recognized an additional $1.4 million in Contributions from noncontrolling interests within our consolidated financial statements. Core-Mark — On May 27, 2015, we acquired a warehouse facility located in Plymouth, Minnesota from an unaffiliated third-party group of sellers for $15.0 million . The facility is leased to Minter-Weisman Co., d/b/a Core-Mark International. On May 29, 2015, we entered into a mortgage loan in the amount of $10.5 million for this property ( Note 10 ). Intuit Inc. — On April 28, 2015, we acquired an office facility located in Plano, Texas from an unaffiliated third party for $33.7 million . The building is leased to Intuit Inc. We simultaneously entered into a mortgage loan in the amount of $21.9 million ( Note 10 ). Republic — On April 17, 2015, we acquired a facility located in Freetown, Massachusetts from an unaffiliated third party for $3.7 million . The facility is leased to Republic Services Environmental Solutions LLC and guaranteed by Republic Services, Inc., which will expand and redevelop the facility into a specialized-materials recycling plant later this year. On July 21, 2015, we entered into a mortgage loan in the amount of $3.2 million regarding this property ( Note 10 ). Broadfold — On March 24, 2015, we acquired a light industrial site located in Aberdeen, United Kingdom from an unaffiliated third party for $6.8 million , which is based on the exchange rate of the British pound sterling on the date of acquisition. The site is fully occupied by three tenants. We intend to engage an unaffiliated third party to act as the asset manager for this property. Business Combinations — Operating Properties During the nine months ended September 30, 2015 , we acquired 20 self-storage investments and four multi-family investments, which are considered to be operating properties, at a total cost of $305.1 million . Self-Storage Properties We acquired the following 20 self-storage investments, aggregating $175.4 million , during the nine months ended September 30, 2015 , which we refer to as our 2015 Self Storage Acquisitions: • $5.0 million for a facility in Hudson, Florida on September 30, 2015; • $7.0 million for two facilities in Las Vegas, Nevada on September 29, 2015; • $3.5 million for a facility in Ithaca, New York on September 29, 2015; • $7.1 million for a facility in Houston, Texas on August 11, 2015; • $11.0 million for a facility in Palm Bay, Florida on July 28, 2015; • $3.7 million for a facility in Leesburg, Florida on July 9, 2015; • $3.5 million for a facility in St. Peters, Missouri on June 17, 2015; • $13.7 million for two facilities in Sarasota, Florida on June 16, 2015; • $9.4 million for a facility in Panama City Beach, Florida on May 26, 2015; • $9.8 million for a facility in Las Vegas, Nevada on May 18, 2015; • $4.0 million for a facility in Crystal Lake, Illinois on May 12, 2015; • $10.1 million for a facility in Louisville, Kentucky on April 29, 2015; • $36.3 million for seven facilities in California on April 10, 2015; • $6.1 million for two facilities in Lilburn and Stockbridge, Georgia on April 2, 2015; • $4.0 million for a facility in Panama City Beach, Florida on March 10, 2015; • $6.0 million for a facility in Lady Lake, Florida on February 25, 2015; • $3.0 million for a facility in Sebastian, Florida on February 18, 2015; • $7.5 million for a facility in Tallahassee, Florida on February 4, 2015; • $9.2 million for a facility in Valrico, Florida on January 29, 2015; and • $15.6 million for a facility in Naples, Florida on January 28, 2015. In connection with these self-storage property transactions, we incurred acquisition expenses totaling $10.4 million , which are included in Acquisition expenses in the consolidated financial statements. During the nine months ended September 30, 2015 , we obtained mortgage loans totaling $101.8 million related to our self-storage investments ( Note 10 ). Multi-Family Properties We acquired the following multi-family properties, for an aggregate of $129.7 million during the nine months ended September 30, 2015 . Cayo Grande — On July 23, 2015, we acquired a 97% controlling interest in Cayo Grande Apartments, or Cayo Grande, a 301 -unit multi-family property located in Fort Walton Beach, Florida, for $25.7 million . The transaction was completed with two joint-venture partners, one of which has been engaged to be the property manager. We simultaneously entered into a mortgage loan in the amount of $18.2 million ( Note 10 ). Grand Estates — On June 8, 2015, we acquired a 97% controlling interest in Grand Estates Apartments, or Grand Estates, a 408 -unit multi-family property located in San Antonio, Texas, for $42.5 million . The transaction was completed with two joint-venture partners, one of which has been engaged to be the property manager. We simultaneously entered into a mortgage loan in the amount of $29.8 million ( Note 10 ). Pinnacle Ridge — On January 15, 2015, we acquired a 97% controlling interest in Pinnacle Ridge Apartments, a 350 -unit multi-family property located in Durham, North Carolina, for $34.3 million . The transaction was completed with two joint-venture partners, one of which has been engaged to be the property manager. We simultaneously entered into a mortgage loan in the amount of $24.0 million ( Note 10 ). Brantley Pines — On January 15, 2015, we acquired a 97% controlling interest in Brantley Pines Apartments, a 296 -unit multi-family property located in Fort Myers, Florida, for $27.2 million . The transaction was completed with two joint-venture partners, one of which has been engaged to be the property manager. We simultaneously entered into a mortgage loan in the amount of $19.0 million ( Note 10 ). In connection with our multi-family property transactions, we incurred acquisition expenses totaling $7.2 million , which are included in Acquisition expenses in the consolidated financial statements. Summary of Assets Acquired and Liabilities Assumed The following tables present a summary of assets acquired and liabilities assumed in our business combinations at the date of acquisition, and revenues and earnings thereon since their respective dates of acquisition through September 30, 2015 (in thousands): 2015 Business Combinations (a) COOP Other Net-Leased Properties Operating Properties Total Cash consideration $ 88,331 $ 138,291 $ 301,204 $ 527,826 Assets acquired at fair value: Land $ 59,595 $ 15,767 $ 46,773 $ 122,135 Buildings 33,049 98,379 235,045 366,473 In-place lease intangible assets 4,618 31,681 24,107 60,406 Above-market rent intangible assets — 105 137 242 Other assets acquired 5,777 549 268 6,594 103,039 146,481 306,330 555,850 Liabilities assumed at fair value: Below-market rent intangible liabilities (63 ) (7,888 ) (85 ) (8,036 ) Deferred tax liability (16,708 ) — — (16,708 ) Other liabilities assumed (715 ) (302 ) (1,150 ) (2,167 ) (17,486 ) (8,190 ) (1,235 ) (26,911 ) Total identifiable net assets 85,553 138,291 305,095 528,939 Amounts attributable to noncontrolling interests (9,706 ) — (3,891 ) (13,597 ) Goodwill ( Note 7 ) 12,484 — — 12,484 $ 88,331 $ 138,291 $ 301,204 $ 527,826 COOP Other Net-Leased Properties Operating Properties May 28, 2015 through Respective Acquisition Dates through Respective Acquisition Dates through Total Revenues $ 2,111 $ 3,313 $ 14,630 $ 20,054 Net loss $ (6,485 ) $ (9,731 ) $ (18,260 ) $ (34,476 ) Net loss attributable to noncontrolling interests 207 — 22 229 Net loss attributable to CPA ® :18 – Global stockholders $ (6,278 ) $ (9,731 ) $ (18,238 ) $ (34,247 ) ___________ (a) The purchase price for each transaction was allocated to the assets acquired and liabilities assumed based upon their preliminary fair values. 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 these assets acquired and liabilities assumed are subject to change. Pro Forma Financial Information The following unaudited consolidated pro forma financial information presents our financial results as if all of the acquisitions deemed business combinations that we completed during the nine months ended September 30, 2015 and 2014, and any new financings related to these acquisitions, had occurred on January 1, 2014 and 2013, respectively. The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisitions actually occurred on January 1, 2014 and 2013, nor does it purport to represent the results of operations for future periods. (in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Pro forma total revenues (a) $ 38,607 $ 29,389 $ 111,886 $ 83,735 Pro forma net income (loss) (b) $ 3,937 $ (5,053 ) $ (2,688 ) $ (48,324 ) Pro forma net income attributable to noncontrolling interests (2,091 ) (1,111 ) (5,898 ) (1,508 ) Pro forma net income (loss) attributable to CPA ® :18 – Global $ 1,846 $ (6,164 ) $ (8,586 ) $ (49,832 ) Pro forma income (loss) per Class A share: Net income (loss) attributable to CPA ® :18 – Global $ 2,005 $ (5,217 ) $ (5,460 ) $ (45,328 ) Pro forma basic and diluted weighted-average shares outstanding (c) 114,802,620 111,515,996 113,980,435 84,189,524 Pro forma basic and diluted income (loss) per share $ 0.02 $ (0.05 ) $ (0.05 ) $ (0.54 ) Pro forma income (loss) per Class C share: Net loss attributable to CPA ® :18 – Global $ (159 ) $ (947 ) $ (3,126 ) $ (4,504 ) Pro forma basic and diluted weighted-average shares outstanding (c) 29,279,706 9,925,481 26,925,898 6,646,337 Pro forma basic and diluted loss per share $ (0.01 ) $ (0.10 ) $ (0.12 ) $ (0.68 ) ___________ (a) Pro forma total revenues include revenues from lease contracts based on the terms in place at September 30, 2015 and do not include adjustments to contingent rental amounts. (b) The pro forma table above presents acquisition expenses related to all of our business combinations that we completed during the nine months ended September 30, 2015 and 2014, as if they were incurred on January 1, 2014 and 2013, respectively. (c) The pro forma basic and diluted weighted-average shares outstanding were determined as if the number of shares issued in our initial public offering in order to raise the funds used for our business combinations that we completed during the nine months ended September 30, 2015 and 2014, were issued on January 1, 2014 and 2013, respectively. We assumed that we would have issued Class A shares to raise such funds. Real Estate Under Construction The following table provides the activity of our Real estate under construction (in thousands): Nine Months Ended September 30, 2015 Year Ended December 31, 2014 Beginning balance $ 2,258 $ — Capitalized funds 116,544 20,617 Foreign currency translation adjustments and other 707 — Capitalized interest 1,680 143 Placed into service (12,450 ) (18,502 ) Ending balance $ 108,739 $ 2,258 Capitalized Funds — During the nine months ended September 30, 2015 , total capitalized funds primarily related to five of our build-to-suit projects, which were comprised primarily of initial funding of $100.6 million and construction draws of $15.9 million . Placed into Service — During the nine months ended September 30, 2015 , we placed into service one of our build-to-suit projects that we acquired in 2014 in the amount of $12.5 million . Ending Balance — At September 30, 2015 and December 31, 2014 , we had five and one open build-to-suit projects, respectively, with aggregate unfunded commitments totaling approximately $129.3 million and $9.7 million , respectively. Acquisitions During the nine months ended September 30, 2015 , we entered into four build-to-suit investments at a total cost of $96.9 million , including acquisition-related costs and fees of $12.6 million , which were capitalized. Melia — On June 22, 2015, we invested in a build-to-suit project to fund the completion of a hotel located in Hamburg, Germany for $7.2 million , which is based on the exchange rate of the euro on the date of investment. This hotel is currently under construction and is expected to be completed in early 2017. Upon completion of this hotel, our total investment is currently expected to be approximately $31.6 million . The hotel will be leased to Melia Hotels International, S. A. upon completion. Marriott — On May 8, 2015, we invested in a build-to-suit joint venture with a third party to finance the completion of a Marriott hotel located in Munich, Germany for $50.7 million , which is based on the exchange rate of the euro on the date of acquisition. This hotel is currently under construction and is expected to be completed in mid-2016. Upon completion of this hotel, our total investment is expected to be approximately $81.6 million . Since the joint-venture partner does not have any equity at risk and we, a non-equity holder, will fully fund and control this development project, this joint venture is considered to be a VIE that we will consolidate ( Note 2 ). On July 23, 2015, we advanced an additional $16.5 million , which is based on the exchange rate of the euro on that date, for the development of this property. On August 5, 2015, we entered into a fixed-rate lock agreement on a mortgage loan for this property. The loan will be available for drawdown upon the completion and opening of the hotel. Rabobank — On March 20, 2015, we invested in and funded the first draw of a build-to-suit joint venture with a third party on a site located in Eindhoven, the Netherlands for $21.7 million , which is based on the exchange rate of the euro on the date of acquisition. Upon completion of this project, our total investment is expected to be approximately $91.1 million . This acquisition includes the development of an office building (including parking spaces) in two phases that are due for completion in April 2017 and March 2019. We will acquire additional equity in the entity developing the building in stages throughout the construction period. We consolidate this joint venture as we are expected to fund and control all of the construction and related activities, and will fully own this property upon completion. Reading — On February 19, 2015, we invested in a build-to-suit joint venture with a third party on a student housing development site located in Reading, United Kingdom for $17.3 million , which is based on the exchange rate of the British pound sterling on the date of acquisition. We acquired 96% of the equity of this investment at closing. This acquisition includes an existing office building and its redevelopment into a student housing facility, which is due for completion in August 2016. Upon completion of this project, our total investment is currently expected to be approximately $45.6 million . A portion of the transaction fees capitalized include current and deferred acquisition fees paid and payable, respectively, to our advisor ( Note 4 ).

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Financing 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 our Note receivable. Operating leases are not included in finance receivables as such amounts are not recognized as an asset in the consolidated financial statements. Net Investments in Direct Financing Leases Net investments in our four direct financing lease investments is summarized as follows (in thousands): September 30, 2015 December 31, 2014 Minimum lease payments receivable $ 29,240 $ 86,338 Unguaranteed residual value 28,320 45,473 57,560 131,811 Less: unearned income (29,111 ) (86,229 ) $ 28,449 $ 45,582 Cardiff — On June 16, 2015, we invested in a joint venture with a third party for an office building located in Cardiff, United Kingdom for $13.2 million , which is based on the exchange rate of the British pound sterling on the date of acquisition. We acquired 94.5% of the equity of this investment at closing, which we consolidate. This property is currently occupied by a single tenant and will be redeveloped into a student housing facility upon the existing tenant vacating the building. Interest income from direct financing leases, which was included in Lease revenues in the consolidated financial statements, was $1.0 million for both the three months ended September 30, 2015 and 2014, respectively, and $3.1 million and $2.4 million for the nine months ended September 30, 2015 and 2014, respectively. At September 30, 2015 , Other assets, net included $0.3 million of accounts receivable related to amounts billed under our direct financing leases. We did not have any outstanding receivables related to direct financing leases at December 31, 2014 . Disposition On December 30, 2013 and March 7, 2014, we entered into two domestic net lease financing transactions with subsidiaries of Crowne Group Inc., from whom we acquired five industrial facilities located in South Carolina, Indiana, and Michigan. In August 2015, the tenants exercised their purchase options and we sold these five industrial facilities back to the subsidiaries of Crowne Group Inc. for $35.7 million . We recognized a gain on sale of $6.7 million , which is included in Gain on sale of real estate, net of tax in our consolidated financial statements. Simultaneously, we paid off the existing mortgage loan that encumbered all of these properties ( Note 10 ) and terminated the interest rate swap agreement that was in place. As a result, we recognized a $1.1 million loss on extinguishment of debt within Other income and (expenses) on our consolidated financial statements. Note Receivable On July 21, 2014, we acquired a $28.0 million mezzanine tranche of 10-year commercial mortgage-backed securities originated by Cantor Fitzgerald on the Cipriani banquet halls in New York, New York. The mezzanine tranche is subordinated to a $60.0 million senior loan on the properties. We will receive interest-only payments at a rate of 10% per annum. At both September 30, 2015 and December 31, 2014 , the balance for this note receivable remained $28.0 million . 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, 2015 and December 31, 2014 , 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, 2015 or the year ended December 31, 2014 . We evaluate the credit quality of our finance receivables utilizing an internal five-point credit rating scale, with one representing the highest credit quality and five representing the lowest. The credit quality evaluation of our finance receivables was last updated in the third quarter of 2015. 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, 2015 December 31, 2014 September 30, 2015 December 31, 2014 1 1 — $ 12,953 $ — 2 1 1 9,042 8,962 3 3 4 34,454 64,620 4 — — — — 5 — — — — 0 $ 56,449 $ 73,582

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2015
Intangible Assets And Liabilities [Abstract]
Intangible Assets and Liabilities	Intangible Assets and Liabilities In connection with our acquisitions of properties ( Note 5 ), we have recorded net lease intangibles that are being amortized over periods ranging from one year to 30 years. In addition, we have ground lease intangibles that are being amortized over periods of up to 99 years. In-place lease intangibles are included in In-place lease intangible assets, net in the consolidated financial statements. Below-market ground lease intangibles and above-market rent intangibles are included in Other intangible assets, net in the consolidated financial statements. Below-market rent intangibles and above-market ground lease intangibles are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements. In connection with our investment activity during the nine months ended September 30, 2015 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 6.9 $ 62,891 Above-market rent 9.1 2,382 $ 65,273 Amortizable Intangible Liabilities Below-market rent 11.3 $ (8,460 ) Goodwill is included in the consolidated financial statements. The following table presents a reconciliation of our goodwill (in thousands): Nine Months Ended September 30, 2015 Balance at January 1, 2015 $ 9,692 Acquisition of investment accounted for as business combination 13,131 Foreign currency translation (2,498 ) Balance at September 30, 2015 $ 20,325 Intangible assets and liabilities are summarized as follows (in thousands): September 30, 2015 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease $ 234,569 $ (32,216 ) $ 202,353 $ 177,970 $ (10,335 ) $ 167,635 Below-market ground lease 14,566 (289 ) 14,277 15,790 (167 ) 15,623 Above-market rent 12,437 (1,055 ) 11,382 10,424 (380 ) 10,044 261,572 (33,560 ) 228,012 204,184 (10,882 ) 193,302 Unamortizable Intangible Assets Goodwill 20,325 — 20,325 9,692 — 9,692 Total intangible assets $ 281,897 $ (33,560 ) $ 248,337 $ 213,876 $ (10,882 ) $ 202,994 Amortizable Intangible Liabilities Below-market rent $ (14,665 ) $ 998 $ (13,667 ) $ (6,276 ) $ 347 $ (5,929 ) Above-market ground lease (124 ) 2 (122 ) (127 ) — (127 ) Total intangible liabilities $ (14,789 ) $ 1,000 $ (13,789 ) $ (6,403 ) $ 347 $ (6,056 ) Net amortization of intangibles, including the effect of foreign currency translation, was $9.0 million and $2.7 million for the three months ended September 30, 2015 and 2014, respectively, and $22.4 million and $6.4 million for the nine months ended September 30, 2015 and 2014, respectively. Amortization of below-market and above-market rent intangibles is recorded as an adjustment to Rental income, amortization of below-market and above-market ground lease intangibles is included in Property expenses, and amortization of in-place lease intangibles is included in Depreciation and amortization expense. Based on the intangible assets and liabilities recorded at September 30, 2015 , scheduled annual net amortization of intangibles for the remainder of 2015, each of the next four calendar years following December 31, 2015 , and thereafter is as follows (in thousands): Years Ending December 31, Net Increase in Rental Income Increase to Amortization/Property Expenses Net 2015 (remaining) $ (24 ) $ 9,373 $ 9,349 2016 (106 ) 30,937 30,831 2017 (149 ) 20,494 20,345 2018 (197 ) 17,094 16,897 2019 (207 ) 16,592 16,385 Thereafter (1,602 ) 122,018 120,416 $ (2,285 ) $ 216,508 $ 214,223

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate swaps and foreign currency forward contracts; 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. Derivative Assets — Our derivative assets, which are included in Other assets, net in the consolidated financial statements, are comprised of foreign currency forward contracts, an interest rate cap, and foreign currency collars ( Note 9 ). These derivatives 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. Derivative Liabilities — Our derivative liabilities, which are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements, are comprised of interest rate swaps ( Note 9 ). These derivatives 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. Rent Guarantees — Our rent guarantees, which are included in Other assets, net in the consolidated financial statements, are related to two of our foreign properties that were acquired during 2015 ( Note 5 ). These rent guarantees were measured at fair value using a discounted cash flow model, and were classified as Level 3 because the model uses unobservable inputs. At September 30, 2015 , our rent guarantees had a fair value of $1.4 million . We determined the fair value of the rent guarantees based on an estimate of discounted cash flows using a discount rate that ranged from 7% to 9% from and a growth rate 2% , which are considered significant unobservable inputs. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. We did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the three and nine months ended September 30, 2015 and 2014. Gains and losses (realized and unrealized) included in earnings are reported in Other income and (expenses) in the consolidated financial statements. Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): September 30, 2015 December 31, 2014 Level Carrying Value Fair Value Carrying Value Fair Value Debt (a) 3 $ 944,005 $ 957,787 $ 521,712 $ 540,577 Note receivable (b) 3 28,000 28,000 28,000 28,000 Deferred acquisition fees payable (c) 3 24,180 23,355 17,525 17,520 ___________ (a) We determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the tenant/obligor and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate. (b) We estimated that the fair value of the note receivable approximated its carrying value. (c) We determined the estimated fair value of our deferred acquisition fees based on an estimate of discounted cash flows using two significant unobservable inputs, which are the leverage adjusted unsecured spread of 213 basis points and an illiquidity adjustment of 75 basis points. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement. We estimated that our other financial assets and liabilities (excluding net investments in direct financing leases) had fair values that approximated their carrying values at both September 30, 2015 and December 31, 2014 .

Risk Management and Use of Deri

Risk Management and Use of Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Use of Derivative Financial Instruments	Risk Management and Use of Derivative Financial Instruments Risk Management In the normal course of our ongoing business operations, we encounter economic risk. There are four main components of economic risk that impact us: interest rate risk, credit risk, market risk, and foreign currency risk. We are primarily subject to interest rate risk on our interest-bearing assets and liabilities. 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 international investments primarily in Europe and are subject to risks associated with fluctuating foreign currency exchange rates. Derivative Financial Instruments When we use derivative instruments, it is generally to reduce our exposure to fluctuations in interest rates and foreign currency exchange rate movements. We have not entered into, and do not plan to enter into financial instruments for trading or speculative purposes. In addition to entering into derivative instruments on our own behalf, we may also be a party to derivative instruments that are embedded in other contracts, and we may be granted common stock warrants by lessees when structuring lease transactions, which are considered to be derivative instruments. The primary risks related to our use of derivative instruments include a counterparty to a hedging arrangement defaulting on its obligation and a downgrade in the credit quality of a counterparty to such an extent that our ability to sell or assign our side of the hedging transaction is impaired. While we seek to mitigate these risks by entering into hedging arrangements with large financial institutions that we deem to be creditworthy, it is possible that our hedging transactions, which are intended to limit losses, could adversely affect our earnings. Furthermore, if we terminate a hedging arrangement, we may be obligated to pay certain costs, such as transaction or breakage fees. We have established policies and procedures for risk assessment and the approval, reporting, and monitoring of derivative financial instrument activities. We measure derivative instruments at fair value and record them as assets or liabilities, depending on our rights or obligations under the applicable derivative contract. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. For a derivative designated and that qualified as a cash flow hedge, the effective portion of the change in fair value of the derivative is recognized in Other comprehensive loss until the hedged item is recognized in earnings. For a derivative designated and that qualified as a net investment hedge, the effective portion of the change in its fair value and/or the net settlement of the derivative are reported in Other comprehensive loss as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive loss into earnings when the hedged investment is either sold or substantially liquidated. The ineffective portion of the change in fair value of any derivative is immediately recognized in earnings. 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, 2015 and December 31, 2014 , no cash collateral had been posted or received for any of our derivative positions. The following table sets forth certain information regarding our derivative instruments (in thousands): Derivatives Designated as Hedging Instruments Balance Sheet Location Asset Derivatives Fair Value at Liability Derivatives Fair Value at September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Foreign currency forward contracts and collars Other assets, net $ 6,676 $ 3,664 $ — $ — Interest rate cap Other assets, net 11 — — — Foreign currency collars Accounts payable, accrued expenses and other liabilities — — (22 ) — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (1,977 ) (2,501 ) $ 6,687 $ 3,664 $ (1,999 ) $ (2,501 ) The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Loss (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2015 2014 2015 2014 Foreign currency forward contracts and collars $ 835 $ 1,822 $ 2,624 $ 1,709 Interest rate swaps 22 66 524 (953 ) Interest rate cap (20 ) — (33 ) — Derivatives in Net Investment Hedging Relationship (a) Foreign currency forward contracts 276 — 366 — Total $ 1,113 $ 1,888 $ 3,481 $ 756 ___________ (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 loss until the underlying investment is sold, at which time we reclassify the gain or loss to earnings. The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive Loss into Income (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income 2015 2014 2015 2014 Foreign currency forward contracts and collars Other income and (expenses) $ 308 $ — $ 870 $ — Interest rate swaps Interest expense (1,401 ) (212 ) (2,001 ) (500 ) Total $ (1,093 ) $ (212 ) $ (1,131 ) $ (500 ) For both the three and nine months ended September 30, 2015 , we recognized net losses on our interest rate swaps of $0.1 million , which was included in Interest expense within our consolidated financial statements. Interest Rate Swaps and Cap We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our investment partners may obtain non-recourse variable-rate mortgage loans and, as a result, may enter into interest rate swap agreements or interest rate cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of a loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty’s stream of cash flow over a specific period. The notional, or face, amount on which the swaps are based is not exchanged. Interest rate caps limit the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements. The interest rate swaps and cap that our consolidated subsidiaries had outstanding at September 30, 2015 are summarized as follows (currency in thousands): Interest Rate Derivatives Number of Instruments Notional Fair Value at September 30, 2015 Interest rate swaps 5 30,347 USD $ (1,977 ) Interest rate cap 1 16,400 USD 11 $ (1,966 ) Foreign Currency Contracts and Collars We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the Norwegian krone and the British pound sterling. 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. 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 consists of a written call option and a purchased put option to sell the foreign currency. These instruments lock the range in which the foreign currency exchange rate may fluctuate. The following table presents the foreign currency derivative contracts we had outstanding and their designations at September 30, 2015 (currency in thousands): Foreign Currency Derivatives Number of Instruments Notional Fair Value at (a) Designated as Cash Flow Hedging Instruments Foreign currency forward contracts and collars 79 30,673 EUR $ 3,880 Foreign currency forward contracts and collars 54 99,623 NOK 2,396 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 8 30,560 NOK 378 $ 6,654 ___________ (a) Fair value amounts are based on the exchange rate of the euro or the Norwegian krone, as applicable, at September 30, 2015 . Credit Risk-Related Contingent Features Amounts reported in Other comprehensive loss related to our interest rate swaps will be reclassified to Interest expense as interest payments are made on our variable-rate debt. Amounts reported in Other comprehensive loss 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, 2015 , we estimated that an additional $0.7 million and $1.3 million will be reclassified as Interest expense and other income, respectively, during the next 12 months. We measure our credit exposure on a counterparty basis as the positive aggregate estimated fair value of our derivatives, net of any collateral received. No collateral was received as of September 30, 2015 . At September 30, 2015 , our total credit exposure was $6.7 million and the maximum exposure to any single counterparty was $3.8 million . Some of the agreements we have with our derivative counterparties contain cross-default provisions that could trigger a declaration of default on our derivative obligations if we default, or are capable of being declared in default, on certain of our indebtedness. At September 30, 2015 , we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives in a net liability position was $2.1 million and $2.6 million at September 30, 2015 and December 31, 2014, respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions at September 30, 2015 or December 31, 2014, we could have been required to settle our obligations under these agreements at their aggregate termination value of $2.1 million and $2.7 million , respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt and Bonds Payable Debt consists of non-recourse mortgage notes and bonds payable, which are collateralized by the assignment of real estate properties with an aggregate carrying value of $1.3 billion and $752.6 million at September 30, 2015 and December 31, 2014 , respectively. The following table presents a summary of the non-recourse mortgage loans and bonds payable on our real estate property investments (dollars in thousands): Carrying Amount at Tenant/Property Interest Rate Rate Type Maturity Date September 30, 2015 December 31, 2014 Non-Recourse Debt: Infineon Technologies AG 3.1% Fixed 2/28/2017 $ 12,431 $ 13,756 Self-storage – Multiple properties (a) (b) (c) 1.8% Variable 5/1/2018 16,400 — Club Med Albion Resorts, or Albion Resorts (d) 4.0% Fixed 2/26/2020 26,887 19,264 Truffle Portfolio/Oakbank Portfolio (e) 4.0% Fixed 7/15/2020 28,019 11,401 Jacobsweerd (a) 1.6% Fixed 7/29/2020 30,654 — Konzum d.d. 5.8% Fixed 12/31/2020 33,478 37,038 Bank Pekao S.A. 3.3% Fixed 3/10/2021 59,768 64,852 Dupont Place Apartments (c) 3.8% Fixed 11/1/2021 14,140 14,140 Gentry’s Walk (c) 3.8% Fixed 11/1/2021 15,330 15,330 Brantley Pines (a) (c) 3.8% Fixed 2/1/2022 19,040 — Pinnacle Ridge (a) (c) 3.2% Fixed 2/1/2022 24,045 — Royal Vopak NV 2.2% Fixed 2/9/2022 38,138 — Cayo Grande (a) 4.3% Fixed 8/1/2022 18,200 — Exelon (a) 4.3% Fixed 9/10/2022 22,620 — State Farm Automobile Company (c) 4.5% Fixed 9/10/2023 72,800 72,800 Self-storage – Multiple properties (f) 4.9% Fixed 2/1/2024 14,500 14,500 Automobile Protection Corporation (b) 5.1% Variable 2/5/2024 3,678 3,752 Solo Cup Operating Company (c) 5.1% Fixed 2/6/2024 47,250 47,250 Swift Spinning Inc. 5.0% Fixed 5/1/2024 7,655 7,738 Janus International (b) 4.9% Variable 5/5/2024 11,538 11,538 Bell Telephone Company 4.6% Fixed 6/11/2024 8,000 8,000 Self-storage – Multiple properties (g) 4.4% Fixed 10/11/2024 23,000 23,000 Cooper Tire & Rubber Company (b) 4.7% Variable 10/31/2024 6,704 6,704 Barnsco Inc. (b) 4.5% Variable 11/14/2024 5,200 5,200 Alliant Techsystems Inc. 4.2% Fixed 1/6/2025 27,650 27,650 Belk Inc. 4.3% Fixed 2/10/2025 28,225 — Self-storage – Multiple properties (a) (h) 4.3% Fixed 3/11/2025 48,138 — Self-storage – Multiple properties (a) (i) 4.3% Fixed 6/11/2025 37,246 — Core-Mark (a) (c) 4.4% Fixed 6/11/2025 10,500 — Grand Estates (a) 4.1% Fixed 7/1/2025 29,750 — Republic Services, Inc. (a) (b) 4.5% Variable 7/21/2025 3,227 — Acosta (a) 4.4% Fixed 8/6/2025 10,650 — USF Holland 4.5% Fixed 9/6/2025 7,750 — Midcontinent Independent System Operator, Inc. 4.0% Fixed 3/6/2026 9,750 — North American Lighting Inc. 4.8% Fixed 5/6/2026 7,291 7,325 Intuit Inc. (a) (c) 4.0% Fixed 7/6/2026 21,900 — Air Enterprises 5.3% Fixed 4/1/2039 3,206 3,257 Crowne Group Inc. (j) N/A N/A N/A — 15,967 $ 804,758 $ 430,462 Bonds Payable: Apply Sorco AS (c) 4.4% Fixed 10/31/2021 $ 42,109 $ 48,151 COOP (a) (c) (k) 4.2% Fixed 5/28/2025 58,811 — Siemens AS (c) (l) 3.5% Variable 12/15/2025 38,327 43,099 $ 139,247 $ 91,250 _________ (a) These mortgage loans and bonds payable were entered into or assumed in conjunction with the 2015 Acquisitions as described in Note 5 . During the nine months ended September 30, 2015 , we capitalized $5.1 million of deferred financing costs related to these loans and bonds payable. We amortize deferred financing costs over the term of the related mortgage loan and bonds payable using a method that approximates the effective interest method. (b) These mortgage loans have variable interest rates, which have been effectively converted to fixed rates through the use of interest rate swaps or caps ( Note 9 ). The interest rates presented for these mortgage loans reflect the interest rate swaps or caps in effect at September 30, 2015 . (c) These mortgage loans have payments that are interest-only until their respective maturity dates. (d) On February 27, 2015, we completed the refinancing of these mortgage loans and consolidated them into one mortgage loan. During the nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $0.7 million related to this refinancing within Other income and (expenses) in our consolidated financial statements. (e) On July 1, 2015, we refinanced these mortgage loans and entered into a new credit facility for $28.9 million , which is based on the exchange rate of the British pound sterling on that date. This new credit facility now covers our entire trade counter and industrial asset portfolio located throughout the United Kingdom. During the three and nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $0.5 million related to this refinancing within Other income and (expenses) in our consolidated financial statements. (f) This mortgage loan is allocated between our St. Petersburg Self Storage and Kissimmee Self Storage investments, which are jointly and severally liable for any possible defaults on the loan. (g) This mortgage loan is allocated to the six self-storage properties purchased from July 22, 2014 through October 9, 2014. (h) On February 18, 2015, we obtained a mortgage loan for $48.1 million , which was allocated to nine self-storage properties purchased from October 28, 2014 through February 18, 2015. (i) On May 27, 2015, we obtained a mortgage loan for $37.2 million , which was allocated to several of the self-storage properties purchased from February 4, 2015 through May 26, 2015. (j) In conjunction with the sale of the Crowne Group Inc. properties ( Note 6 ), we paid off the existing mortgage loans that encumbered all of these properties. The buyer paid the prepayment penalty on our behalf due to unwinding of the related interest rate swap agreement. During the three and nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $1.1 million related to the termination of this swap within Other income and (expenses) in our consolidated financial statements. (k) In conjunction with this investment ( Note 5 ), on May 28, 2015, we issued privately-placed bonds totaling $64.2 million , which is based on the exchange rate of the Norwegian krone at that date. These bonds are collateralized by the COOP property and have a fixed coupon of 4.2% and a maturity date of May 28, 2025 . (l) This bond is inflation-linked to the consumer price index, or CPI, of Norway, and the annual principal balance will increase as that inflation index increases. Scheduled Debt Principal Payments Scheduled debt principal payments during the remainder of 2015, each of the next four calendar years following December 31, 2015 , and thereafter are as follows (in thousands): Years Ending December 31, Total 2015 (remainder) $ 695 2016 3,208 2017 15,756 2018 20,368 2019 4,241 Thereafter through 2039 898,462 942,730 Unamortized premium 1,275 Total $ 944,005 Certain amounts in the table above are based on the applicable foreign currency exchange rate at September 30, 2015 . The carrying value of our Non-recourse debt and Bonds payable decreased by $30.3 million from December 31, 2014 to September 30, 2015 , due to the strengthening of the U.S. dollar relative to foreign currencies during the same period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies At September 30, 2015 , 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 5 for unfunded construction commitments.

Loss Per Share and Equity

Loss Per Share and Equity	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Loss Per Share and Equity	Loss Per Share and Equity Basic and Diluted Loss Per Share The following table presents loss per share (in thousands, except share and per share amounts): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Basic and Diluted Weighted-Average Shares Outstanding Allocation of Loss Basic and Diluted Loss Class A common stock 102,293,880 $ (7,078 ) $ (0.07 ) 99,007,256 $ (9,426 ) $ (0.10 ) Class C common stock 29,279,706 (2,697 ) (0.09 ) 9,925,481 (1,175 ) (0.12 ) Net loss attributable to CPA ® :18 – Global $ (9,775 ) $ (10,601 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Class A common stock 101,471,695 $ (31,659 ) $ (0.31 ) 71,680,784 $ (26,695 ) $ (0.37 ) Class C common stock 26,925,898 (10,237 ) (0.38 ) 6,646,337 (2,934 ) (0.44 ) Net loss attributable to CPA ® :18 – Global $ (41,896 ) $ (29,629 ) The allocation of Net loss attributable to CPA ® :18 – Global is calculated based on the basic and diluted weighted-average shares outstanding for Class A and Class C common stock for each respective period. For the three and nine months ended September 30, 2015 , the allocation for Class A common stock excludes shareholder servicing fees of $0.7 million and $1.8 million , respectively, which is only applicable to Class C common stock ( Note 4 ). For the three and nine months ended September 30, 2014 , the allocation for Class A common stock excludes shareholder servicing fees of $0.2 million and $0.5 million , respectively. Distributions During the third quarter of 2015, our board of directors declared quarterly distributions of $0.1563 per share for our Class A common stock and $0.1340 per share for our Class C common stock for the quarter ending September 30, 2015 . Distributions in the amount of $19.9 million were paid on October 15, 2015 to stockholders of record on September 30, 2015 . Distributions are declared at the discretion of our board of directors and are not guaranteed. Until we substantially invest the net proceeds of our initial public offering, we expect that distributions will be paid primarily from offering proceeds, which reduces amounts available to invest in properties and could lower our overall return. 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, 2015 Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Total Beginning balance $ 3,430 $ (39,391 ) $ (35,961 ) Other comprehensive loss before reclassifications (256 ) (6,724 ) (6,980 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,401 — 1,401 Other income and (expenses) (308 ) — (308 ) Net current-period Other comprehensive income (loss) 837 (6,724 ) (5,887 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 1,300 1,300 Ending balance $ 4,267 $ (44,815 ) $ (40,548 ) Three Months Ended September 30, 2014 Gains and Losses Foreign Currency Translation Adjustments Total Beginning balance $ (1,351 ) $ (1,076 ) $ (2,427 ) Other comprehensive income (loss) before reclassifications 1,676 (11,443 ) (9,767 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 212 — 212 Net current-period Other comprehensive income (loss) 1,888 (11,443 ) (9,555 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 3,252 3,252 Ending balance $ 537 $ (9,267 ) $ (8,730 ) Nine Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Total Beginning balance $ 1,152 $ (22,093 ) $ (20,941 ) Other comprehensive income (loss) before reclassifications 1,984 (28,202 ) (26,218 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,001 — 2,001 Other income and (expenses) (870 ) — (870 ) Net current-period Other comprehensive income (loss) 3,115 (28,202 ) (25,087 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 5,480 5,480 Ending balance $ 4,267 $ (44,815 ) $ (40,548 ) Nine Months Ended September 30, 2014 Gains and Losses Foreign Currency Translation Adjustments Total Beginning balance $ (219 ) $ 125 $ (94 ) Other comprehensive income (loss) before reclassifications 256 (13,143 ) (12,887 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 500 — 500 Net current-period Other comprehensive income (loss) 756 (13,143 ) (12,387 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 3,751 3,751 Ending balance $ 537 $ (9,267 ) $ (8,730 )

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent to September 30, 2015 and through November 16, 2015 , we purchased 12 additional properties totaling approximately $112.6 million (excluding acquisition costs) and obtained $75.5 million of new financing. Of these properties, ten are self-storage facilities, one is an office building, and one is a build-to-suit project for a self-storage facility. It is not practicable to disclose the preliminary purchase price allocation or consolidated pro forma financial information for these transactions given the short period of time between the acquisition dates and the filing of this Report.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [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 accounting principles generally accepted 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, 2014, which are included in the 2014 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	Basis of Consolidation Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. 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. When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed to be a VIE, and, if so, whether we should be deemed to be the primary beneficiary and are therefore required to consolidate the entity. We apply accounting guidance for consolidation of VIEs to certain entities in which the equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. Fixed price purchase and renewal options within a lease, as well as certain decision-making rights within a loan or joint-venture agreement, can cause us to consider an entity a VIE. Significant judgment is required to determine whether a VIE should be consolidated. We review the 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 to determine whether they qualify as VIEs and whether they should be consolidated or accounted for as equity investments in an unconsolidated venture. As a result of our assessment, at September 30, 2015 we considered three entities VIEs, two of which we consolidate and the other we account for as an equity investment. For an entity that is not considered to be a VIE, but rather a voting interest entity, the general partners in a limited partnership (or similar entity) are presumed to control the entity regardless of the level of their ownership and, accordingly, may be required to consolidate the entity. We evaluate the partnership agreements or other relevant contracts to determine whether there are provisions in the agreements that would overcome this presumption. If the agreements provide the limited partners with either (i) the substantive ability to dissolve or liquidate the limited partnership or otherwise remove the general partners without cause or (ii) substantive participating rights, the limited partners’ rights overcome the presumption of control by a general partner of the limited partnership, and, therefore, the general partner must account for its investment in the limited partnership using the equity method of accounting. Additionally, we own an interest in a self-storage development joint venture through a noncontrolling interest in a partnership and limited liability company that we do not control, but over which we exercise significant influence. We account for this investment under the equity method of accounting. At times, the carrying value of our equity investment may fall below zero. We intend to fund our share of the jointly-owned investment’s future operating deficits should the need arise. However, we have no legal obligation to pay for any of the liabilities of such an investment nor do we have any legal obligation to fund operating deficits. At September 30, 2015 , our sole equity investment did not have a carrying value below zero.
Intangible Assets and Liabilities	Amortization of below-market and above-market rent intangibles is recorded as an adjustment to Rental income, amortization of below-market and above-market ground lease intangibles is included in Property expenses, and amortization of in-place lease intangibles is included in Depreciation and amortization expense. In connection with our acquisitions of properties ( Note 5 ), we have recorded net lease intangibles that are being amortized over periods ranging from one year to 30 years. In addition, we have ground lease intangibles that are being amortized over periods of up to 99 years. In-place lease intangibles are included in In-place lease intangible assets, net in the consolidated financial statements. Below-market ground lease intangibles and above-market rent intangibles are included in Other intangible assets, net in the consolidated financial statements. Below-market rent intangibles and above-market ground lease intangibles are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements.
Fair Value Measurements	Derivative Assets — Our derivative assets, which are included in Other assets, net in the consolidated financial statements, are comprised of foreign currency forward contracts, an interest rate cap, and foreign currency collars ( Note 9 ). These derivatives 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. Derivative Liabilities — Our derivative liabilities, which are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements, are comprised of interest rate swaps ( Note 9 ). These derivatives 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 swaps and foreign currency forward contracts; 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 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 its fair value and/or the net settlement of the derivative are reported in Other comprehensive loss as part of the cumulative foreign currency translation adjustment. Amounts are reclassified out of Other comprehensive loss into earnings when the hedged investment is either sold or substantially liquidated.
Description of New Accounting Pronouncements	Recent Accounting Requirements The following Accounting Standards Updates, or ASUs, promulgated by the Financial Accounting Standards Board are applicable to us: ASU 2015-16, Business Combinations (Topic 805) — ASU 2015-16 requires that an acquirer recognize adjustments identified during the business combination measurement period in the reporting period in which the adjustment amounts are determined. The effects on earnings due to changes in depreciation, amortization, or other income effects as a result of the change are also recognized in the same period’s financial statements. ASU 2015-16 also requires that acquirers present separately on the face of the income statement or disclose in the notes to the financial statements the portion of the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment had been recognized as of the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, early adoption is permitted and prospective application is required for adjustments that are identified after the effective date of this update. We elected to early adopt ASU 2015-16 and implemented the standard prospectively beginning July 1, 2015. The adoption and implementation of the standard did not have a material impact on our financial statements. ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) — ASU 2015-03 changes the presentation of debt issuance costs, which are currently recognized as a deferred charge (that is, an asset) and requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 does not affect the recognition and measurement guidance for debt issuance costs. ASU 2015-03 is effective for periods beginning after December 15, 2015, early adoption is permitted and retrospective application is required. We are currently evaluating the impact of ASU 2015-03 on our consolidated financial statements. 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.

Revisions of Previously-Issue24

Revisions of Previously-Issued Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Revisions of Previously-Issued Financial Statements	We corrected this error, and one other error previously recorded as an out-of-period adjustment, and revised our consolidated financial statements for all prior periods impacted. Accordingly, our financial results for the prior periods presented herein have been revised for the correction of such errors as follows (in thousands, except share and per share amounts): Consolidated Statements of Operations Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Revisions As Revised As Reported Revisions As Revised Revenues Total revenues $ 14,882 $ — $ 14,882 $ 34,224 $ — $ 34,224 Operating Expenses Total operating expenses 18,580 — 18,580 53,770 — 53,770 Other Income and Expenses Interest expense (4,311 ) — (4,311 ) (10,163 ) — (10,163 ) Other income and (expenses) (a) 852 (2,952 ) (2,100 ) 1,814 (3,545 ) (1,731 ) (3,459 ) (2,952 ) (6,411 ) (8,349 ) (3,545 ) (11,894 ) Loss before income taxes (7,157 ) (2,952 ) (10,109 ) (27,895 ) (3,545 ) (31,440 ) Benefit from income taxes 644 — 644 422 — 422 Net Loss (6,513 ) (2,952 ) (9,465 ) (27,473 ) (3,545 ) (31,018 ) Net (income) loss attributable to noncontrolling interests (1,136 ) — (1,136 ) 1,389 — 1,389 Net Loss Attributable to CPA ® :18 – Global $ (7,649 ) $ (2,952 ) $ (10,601 ) $ (26,084 ) $ (3,545 ) $ (29,629 ) Class A Common Stock Net loss attributable to CPA ® :18 – Global $ (6,743 ) $ (2,683 ) $ (9,426 ) $ (23,451 ) $ (3,244 ) $ (26,695 ) Basic and diluted weighted-average shares outstanding 99,007,256 — 99,007,256 71,680,784 — 71,680,784 Basic and diluted loss per share $ (0.07 ) $ (0.03 ) $ (0.10 ) $ (0.33 ) $ (0.04 ) $ (0.37 ) Class C Common Stock Net loss attributable to CPA ® :18 – Global $ (906 ) $ (269 ) $ (1,175 ) $ (2,633 ) $ (301 ) $ (2,934 ) Basic and diluted weighted-average shares outstanding 9,925,481 — 9,925,481 6,646,337 — 6,646,337 Basic and diluted loss per share $ (0.09 ) $ (0.03 ) $ (0.12 ) $ (0.40 ) $ (0.04 ) $ (0.44 ) Consolidated Statements of Comprehensive Loss Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 As Reported Revisions As Revised As Reported Revisions As Revised Net Loss (a) $ (6,513 ) $ (2,952 ) $ (9,465 ) $ (27,473 ) $ (3,545 ) $ (31,018 ) Other Comprehensive Loss Foreign currency translation adjustments (a) (14,395 ) 2,952 (11,443 ) (16,688 ) 3,545 (13,143 ) Change in net unrealized gain on derivative instruments 1,888 — 1,888 756 — 756 (12,507 ) 2,952 (9,555 ) (15,932 ) 3,545 (12,387 ) Comprehensive Loss (19,020 ) — (19,020 ) (43,405 ) — (43,405 ) Amounts Attributable to Noncontrolling Interests Net (income) loss (1,136 ) — (1,136 ) 1,389 — 1,389 Foreign currency translation adjustments 3,252 — 3,252 3,751 — 3,751 Comprehensive loss attributable to noncontrolling interests 2,116 — 2,116 5,140 — 5,140 Comprehensive Loss Attributable to CPA ® :18 – Global $ (16,904 ) $ — $ (16,904 ) $ (38,265 ) $ — $ (38,265 ) Consolidated Statement of Equity CPA ® :18 – Global Stockholders Additional Paid-In Capital Distributions and Accumulated Losses (a) Accumulated Other Comprehensive Loss (a) Total CPA ® :18 – Global Stockholders Noncontrolling Interests Common Stock Class A Class C Balance at September 30, 2014 Shares Amount Shares Amount Treasury Stock Total As Reported 99,132,878 $ 99 12,242,048 $ 12 $ 996,722 $ (64,467 ) $ (12,275 ) $ (371 ) $ 919,720 $ 61,101 $ 980,821 Revisions — — — — — (3,545 ) 3,545 — — — — As Revised 99,132,878 $ 99 12,242,048 $ 12 $ 996,722 $ (68,012 ) $ (8,730 ) $ (371 ) $ 919,720 $ 61,101 $ 980,821 ___________ (a) These adjustments are the result of the error we identified related to foreign currency matters, as discussed above. We identified errors in our consolidated statement of cash flows for the three months ended March 31, 2015 as follows (in thousands): Three Months Ended March 31, 2015 As Reported Revisions As Revised Net Cash Provided by Operating Activities $ 9,586 $ 3,085 (a) (b) (c) (d) $ 12,671 Net Cash Used in Investing Activities (145,309 ) 536 (a) (144,773 ) (1,923 ) (b) 948 (c) Net Cash Provided by Financing Activities 248,240 (975 ) 247,265 Change in Cash and Cash Equivalents During the Period Effect of exchange rate changes on cash and cash equivalents (2,971 ) (2,646 ) (a) (d) (5,617 ) Net increase in cash and cash equivalents 109,546 — 109,546 Cash and cash equivalents, beginning of period 429,548 — 429,548 Cash and cash equivalents, end of period $ 539,094 $ — $ 539,094 ___________ (a) These items relate to an error in classification of cash flows for an acquisition of real estate; whereby Net cash provided by operating activities was overstated by $1.0 million , Net cash used in investing activities was overstated by $0.5 million and the Effect of exchange rate changes on cash and cash equivalents should have been increased by $0.5 million . (b) These items relate to an error of classification of cash flows related to the settlement of proceeds from the sale of shares and an error in the classification of cash flows for offering costs, whereby Net cash provided by operating activities was understated by $1.9 million and Net cash provided by financing activities was overstated by the same amount. (c) These items relate to an error in the capitalization of financing costs as described below, whereby Net cash provided by operating activities was overstated by $0.9 million and Net cash provided by financing activities was understated by the same amount. (d) These items relate to an error in the classification of the remeasurement of foreign cash balances held in U.S. dollar functional currency subsidiaries, whereby Net cash provided by operating activities was understated by $3.1 million and the Effect of exchange rate changes on cash and cash equivalents should have been decreased by the same amount.

Agreements and Transactions w25

Agreements and Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2015
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 terms of the related agreements (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Amounts Included in the Consolidated Statements of Operations Acquisition expenses $ 6,851 $ 4,915 $ 25,532 $ 23,808 Asset management fees 2,098 713 5,244 1,647 Available Cash Distributions 1,705 590 4,021 1,196 Shareholder servicing fee 671 230 1,836 459 Personnel and overhead reimbursements 409 57 852 87 Interest expense on deferred acquisition fees 101 43 274 97 Stock-based compensation 100 99 100 99 $ 11,935 $ 6,647 $ 37,859 $ 27,393 Other Transaction Fees Incurred Current acquisition fees $ 677 $ — $ 7,052 $ 1,251 Deferred acquisition fees 542 — 5,641 1,000 Offering costs 48 640 613 2,626 Selling commissions and dealer manager fees — 2,695 3,746 79,926 $ 1,267 $ 3,335 $ 17,052 $ 84,803 The following table presents a summary of amounts included in Due to affiliate in the consolidated financial statements (in thousands): September 30, 2015 December 31, 2014 Due to Affiliate Deferred acquisition fees, including interest $ 24,180 $ 17,525 Accounts payable 2,858 2,702 Current acquisition fees 1,355 — Asset management fees payable 716 378 Reimbursable costs 256 46 $ 29,365 $ 20,651

Net Investments in Properties (

Net Investments in Properties (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule of Real Estate Properties	Operating real estate, which consists of our self-storage and multi-family properties, at cost, is summarized as follows (in thousands): September 30, 2015 December 31, 2014 Land $ 74,811 $ 28,040 Buildings 343,167 105,556 Less: Accumulated depreciation (7,244 ) (939 ) $ 410,734 $ 132,657 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, 2015 December 31, 2014 Land $ 173,505 $ 104,604 Buildings 754,637 639,131 Less: Accumulated depreciation (25,810 ) (10,875 ) $ 902,332 $ 732,860
Schedule of Assets Acquired in Business Combination	The following tables present a summary of assets acquired and liabilities assumed in our business combinations at the date of acquisition, and revenues and earnings thereon since their respective dates of acquisition through September 30, 2015 (in thousands): 2015 Business Combinations (a) COOP Other Net-Leased Properties Operating Properties Total Cash consideration $ 88,331 $ 138,291 $ 301,204 $ 527,826 Assets acquired at fair value: Land $ 59,595 $ 15,767 $ 46,773 $ 122,135 Buildings 33,049 98,379 235,045 366,473 In-place lease intangible assets 4,618 31,681 24,107 60,406 Above-market rent intangible assets — 105 137 242 Other assets acquired 5,777 549 268 6,594 103,039 146,481 306,330 555,850 Liabilities assumed at fair value: Below-market rent intangible liabilities (63 ) (7,888 ) (85 ) (8,036 ) Deferred tax liability (16,708 ) — — (16,708 ) Other liabilities assumed (715 ) (302 ) (1,150 ) (2,167 ) (17,486 ) (8,190 ) (1,235 ) (26,911 ) Total identifiable net assets 85,553 138,291 305,095 528,939 Amounts attributable to noncontrolling interests (9,706 ) — (3,891 ) (13,597 ) Goodwill ( Note 7 ) 12,484 — — 12,484 $ 88,331 $ 138,291 $ 301,204 $ 527,826 (a) The purchase price for each transaction was allocated to the assets acquired and liabilities assumed based upon their preliminary fair values. 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 these assets acquired and liabilities assumed are subject to change.
Schedule Of Revenues and Net Income From Business Combination	COOP Other Net-Leased Properties Operating Properties May 28, 2015 through Respective Acquisition Dates through Respective Acquisition Dates through Total Revenues $ 2,111 $ 3,313 $ 14,630 $ 20,054 Net loss $ (6,485 ) $ (9,731 ) $ (18,260 ) $ (34,476 ) Net loss attributable to noncontrolling interests 207 — 22 229 Net loss attributable to CPA ® :18 – Global stockholders $ (6,278 ) $ (9,731 ) $ (18,238 ) $ (34,247 )
Pro Forma Information	(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Pro forma total revenues (a) $ 38,607 $ 29,389 $ 111,886 $ 83,735 Pro forma net income (loss) (b) $ 3,937 $ (5,053 ) $ (2,688 ) $ (48,324 ) Pro forma net income attributable to noncontrolling interests (2,091 ) (1,111 ) (5,898 ) (1,508 ) Pro forma net income (loss) attributable to CPA ® :18 – Global $ 1,846 $ (6,164 ) $ (8,586 ) $ (49,832 ) Pro forma income (loss) per Class A share: Net income (loss) attributable to CPA ® :18 – Global $ 2,005 $ (5,217 ) $ (5,460 ) $ (45,328 ) Pro forma basic and diluted weighted-average shares outstanding (c) 114,802,620 111,515,996 113,980,435 84,189,524 Pro forma basic and diluted income (loss) per share $ 0.02 $ (0.05 ) $ (0.05 ) $ (0.54 ) Pro forma income (loss) per Class C share: Net loss attributable to CPA ® :18 – Global $ (159 ) $ (947 ) $ (3,126 ) $ (4,504 ) Pro forma basic and diluted weighted-average shares outstanding (c) 29,279,706 9,925,481 26,925,898 6,646,337 Pro forma basic and diluted loss per share $ (0.01 ) $ (0.10 ) $ (0.12 ) $ (0.68 ) ___________ (a) Pro forma total revenues include revenues from lease contracts based on the terms in place at September 30, 2015 and do not include adjustments to contingent rental amounts. (b) The pro forma table above presents acquisition expenses related to all of our business combinations that we completed during the nine months ended September 30, 2015 and 2014, as if they were incurred on January 1, 2014 and 2013, respectively. (c) The pro forma basic and diluted weighted-average shares outstanding were determined as if the number of shares issued in our initial public offering in order to raise the funds used for our business combinations that we completed during the nine months ended September 30, 2015 and 2014, were issued on January 1, 2014 and 2013, respectively. We assumed that we would have issued Class A shares to raise such funds.
Real Estate Under Construction	The following table provides the activity of our Real estate under construction (in thousands): Nine Months Ended September 30, 2015 Year Ended December 31, 2014 Beginning balance $ 2,258 $ — Capitalized funds 116,544 20,617 Foreign currency translation adjustments and other 707 — Capitalized interest 1,680 143 Placed into service (12,450 ) (18,502 ) Ending balance $ 108,739 $ 2,258

Finance Receivables Finance Rec

Finance Receivables Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Capital Leases Net Investment In Direct Financing Leases	Net investments in our four direct financing lease investments is summarized as follows (in thousands): September 30, 2015 December 31, 2014 Minimum lease payments receivable $ 29,240 $ 86,338 Unguaranteed residual value 28,320 45,473 57,560 131,811 Less: unearned income (29,111 ) (86,229 ) $ 28,449 $ 45,582
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, 2015 December 31, 2014 September 30, 2015 December 31, 2014 1 1 — $ 12,953 $ — 2 1 1 9,042 8,962 3 3 4 34,454 64,620 4 — — — — 5 — — — — 0 $ 56,449 $ 73,582

Intangible Assets and Liabili28

Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Intangible Assets And Liabilities [Abstract]
Schedule Of Acquired Finite Lived Intangible Assets Liabilities By Major Class	In connection with our investment activity during the nine months ended September 30, 2015 , we recorded net lease intangibles comprised as follows (life in years, dollars in thousands): Weighted-Average Life Amount Amortizable Intangible Assets In-place lease 6.9 $ 62,891 Above-market rent 9.1 2,382 $ 65,273 Amortizable Intangible Liabilities Below-market rent 11.3 $ (8,460 )
Schedule of Goodwill	The following table presents a reconciliation of our goodwill (in thousands): Nine Months Ended September 30, 2015 Balance at January 1, 2015 $ 9,692 Acquisition of investment accounted for as business combination 13,131 Foreign currency translation (2,498 ) Balance at September 30, 2015 $ 20,325
Schedule Of Intangible Assets and Liabilities	Intangible assets and liabilities are summarized as follows (in thousands): September 30, 2015 December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable Intangible Assets In-place lease $ 234,569 $ (32,216 ) $ 202,353 $ 177,970 $ (10,335 ) $ 167,635 Below-market ground lease 14,566 (289 ) 14,277 15,790 (167 ) 15,623 Above-market rent 12,437 (1,055 ) 11,382 10,424 (380 ) 10,044 261,572 (33,560 ) 228,012 204,184 (10,882 ) 193,302 Unamortizable Intangible Assets Goodwill 20,325 — 20,325 9,692 — 9,692 Total intangible assets $ 281,897 $ (33,560 ) $ 248,337 $ 213,876 $ (10,882 ) $ 202,994 Amortizable Intangible Liabilities Below-market rent $ (14,665 ) $ 998 $ (13,667 ) $ (6,276 ) $ 347 $ (5,929 ) Above-market ground lease (124 ) 2 (122 ) (127 ) — (127 ) Total intangible liabilities $ (14,789 ) $ 1,000 $ (13,789 ) $ (6,403 ) $ 347 $ (6,056 )
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Based on the intangible assets and liabilities recorded at September 30, 2015 , scheduled annual net amortization of intangibles for the remainder of 2015, each of the next four calendar years following December 31, 2015 , and thereafter is as follows (in thousands): Years Ending December 31, Net Increase in Rental Income Increase to Amortization/Property Expenses Net 2015 (remaining) $ (24 ) $ 9,373 $ 9,349 2016 (106 ) 30,937 30,831 2017 (149 ) 20,494 20,345 2018 (197 ) 17,094 16,897 2019 (207 ) 16,592 16,385 Thereafter (1,602 ) 122,018 120,416 $ (2,285 ) $ 216,508 $ 214,223

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule Of Other Financial Instruments In Carrying Values And Fair Values	Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands): September 30, 2015 December 31, 2014 Level Carrying Value Fair Value Carrying Value Fair Value Debt (a) 3 $ 944,005 $ 957,787 $ 521,712 $ 540,577 Note receivable (b) 3 28,000 28,000 28,000 28,000 Deferred acquisition fees payable (c) 3 24,180 23,355 17,525 17,520 ___________ (a) We determined the estimated fair value of these financial instruments using a discounted cash flow model with rates that take into account the credit of the tenant/obligor and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate. (b) We estimated that the fair value of the note receivable approximated its carrying value. (c) We determined the estimated fair value of our deferred acquisition fees based on an estimate of discounted cash flows using two significant unobservable inputs, which are the leverage adjusted unsecured spread of 213 basis points and an illiquidity adjustment of 75 basis points. Significant increases or decreases to these inputs in isolation would result in a significant change in the fair value measurement.

Risk Management and Use of De30

Risk Management and Use of Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth certain information regarding our derivative instruments (in thousands): Derivatives Designated as Hedging Instruments Balance Sheet Location Asset Derivatives Fair Value at Liability Derivatives Fair Value at September 30, 2015 December 31, 2014 September 30, 2015 December 31, 2014 Foreign currency forward contracts and collars Other assets, net $ 6,676 $ 3,664 $ — $ — Interest rate cap Other assets, net 11 — — — Foreign currency collars Accounts payable, accrued expenses and other liabilities — — (22 ) — Interest rate swaps Accounts payable, accrued expenses and other liabilities — — (1,977 ) (2,501 ) $ 6,687 $ 3,664 $ (1,999 ) $ (2,501 )
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) on Derivatives Reclassified from Other Comprehensive Loss into Income (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships Location of Gain (Loss) Recognized in Income 2015 2014 2015 2014 Foreign currency forward contracts and collars Other income and (expenses) $ 308 $ — $ 870 $ — Interest rate swaps Interest expense (1,401 ) (212 ) (2,001 ) (500 ) Total $ (1,093 ) $ (212 ) $ (1,131 ) $ (500 ) The following table presents the impact of our derivative instruments in the consolidated financial statements (in thousands): Amount of Gain (Loss) Recognized on Derivatives in Other Comprehensive Loss (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, Derivatives in Cash Flow Hedging Relationships 2015 2014 2015 2014 Foreign currency forward contracts and collars $ 835 $ 1,822 $ 2,624 $ 1,709 Interest rate swaps 22 66 524 (953 ) Interest rate cap (20 ) — (33 ) — Derivatives in Net Investment Hedging Relationship (a) Foreign currency forward contracts 276 — 366 — Total $ 1,113 $ 1,888 $ 3,481 $ 756 ___________ (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 loss until the underlying investment is sold, at which time we reclassify the gain or loss to earnings.
Schedule of Derivative Instruments	The interest rate swaps and cap that our consolidated subsidiaries had outstanding at September 30, 2015 are summarized as follows (currency in thousands): Interest Rate Derivatives Number of Instruments Notional Fair Value at September 30, 2015 Interest rate swaps 5 30,347 USD $ (1,977 ) Interest rate cap 1 16,400 USD 11 $ (1,966 ) The following table presents the foreign currency derivative contracts we had outstanding and their designations at September 30, 2015 (currency in thousands): Foreign Currency Derivatives Number of Instruments Notional Fair Value at (a) Designated as Cash Flow Hedging Instruments Foreign currency forward contracts and collars 79 30,673 EUR $ 3,880 Foreign currency forward contracts and collars 54 99,623 NOK 2,396 Designated as Net Investment Hedging Instruments Foreign currency forward contracts 8 30,560 NOK 378 $ 6,654 ___________ (a) Fair value amounts are based on the exchange rate of the euro or the Norwegian krone, as applicable, at September 30, 2015 .

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents a summary of the non-recourse mortgage loans and bonds payable on our real estate property investments (dollars in thousands): Carrying Amount at Tenant/Property Interest Rate Rate Type Maturity Date September 30, 2015 December 31, 2014 Non-Recourse Debt: Infineon Technologies AG 3.1% Fixed 2/28/2017 $ 12,431 $ 13,756 Self-storage – Multiple properties (a) (b) (c) 1.8% Variable 5/1/2018 16,400 — Club Med Albion Resorts, or Albion Resorts (d) 4.0% Fixed 2/26/2020 26,887 19,264 Truffle Portfolio/Oakbank Portfolio (e) 4.0% Fixed 7/15/2020 28,019 11,401 Jacobsweerd (a) 1.6% Fixed 7/29/2020 30,654 — Konzum d.d. 5.8% Fixed 12/31/2020 33,478 37,038 Bank Pekao S.A. 3.3% Fixed 3/10/2021 59,768 64,852 Dupont Place Apartments (c) 3.8% Fixed 11/1/2021 14,140 14,140 Gentry’s Walk (c) 3.8% Fixed 11/1/2021 15,330 15,330 Brantley Pines (a) (c) 3.8% Fixed 2/1/2022 19,040 — Pinnacle Ridge (a) (c) 3.2% Fixed 2/1/2022 24,045 — Royal Vopak NV 2.2% Fixed 2/9/2022 38,138 — Cayo Grande (a) 4.3% Fixed 8/1/2022 18,200 — Exelon (a) 4.3% Fixed 9/10/2022 22,620 — State Farm Automobile Company (c) 4.5% Fixed 9/10/2023 72,800 72,800 Self-storage – Multiple properties (f) 4.9% Fixed 2/1/2024 14,500 14,500 Automobile Protection Corporation (b) 5.1% Variable 2/5/2024 3,678 3,752 Solo Cup Operating Company (c) 5.1% Fixed 2/6/2024 47,250 47,250 Swift Spinning Inc. 5.0% Fixed 5/1/2024 7,655 7,738 Janus International (b) 4.9% Variable 5/5/2024 11,538 11,538 Bell Telephone Company 4.6% Fixed 6/11/2024 8,000 8,000 Self-storage – Multiple properties (g) 4.4% Fixed 10/11/2024 23,000 23,000 Cooper Tire & Rubber Company (b) 4.7% Variable 10/31/2024 6,704 6,704 Barnsco Inc. (b) 4.5% Variable 11/14/2024 5,200 5,200 Alliant Techsystems Inc. 4.2% Fixed 1/6/2025 27,650 27,650 Belk Inc. 4.3% Fixed 2/10/2025 28,225 — Self-storage – Multiple properties (a) (h) 4.3% Fixed 3/11/2025 48,138 — Self-storage – Multiple properties (a) (i) 4.3% Fixed 6/11/2025 37,246 — Core-Mark (a) (c) 4.4% Fixed 6/11/2025 10,500 — Grand Estates (a) 4.1% Fixed 7/1/2025 29,750 — Republic Services, Inc. (a) (b) 4.5% Variable 7/21/2025 3,227 — Acosta (a) 4.4% Fixed 8/6/2025 10,650 — USF Holland 4.5% Fixed 9/6/2025 7,750 — Midcontinent Independent System Operator, Inc. 4.0% Fixed 3/6/2026 9,750 — North American Lighting Inc. 4.8% Fixed 5/6/2026 7,291 7,325 Intuit Inc. (a) (c) 4.0% Fixed 7/6/2026 21,900 — Air Enterprises 5.3% Fixed 4/1/2039 3,206 3,257 Crowne Group Inc. (j) N/A N/A N/A — 15,967 $ 804,758 $ 430,462 Bonds Payable: Apply Sorco AS (c) 4.4% Fixed 10/31/2021 $ 42,109 $ 48,151 COOP (a) (c) (k) 4.2% Fixed 5/28/2025 58,811 — Siemens AS (c) (l) 3.5% Variable 12/15/2025 38,327 43,099 $ 139,247 $ 91,250 _________ (a) These mortgage loans and bonds payable were entered into or assumed in conjunction with the 2015 Acquisitions as described in Note 5 . During the nine months ended September 30, 2015 , we capitalized $5.1 million of deferred financing costs related to these loans and bonds payable. We amortize deferred financing costs over the term of the related mortgage loan and bonds payable using a method that approximates the effective interest method. (b) These mortgage loans have variable interest rates, which have been effectively converted to fixed rates through the use of interest rate swaps or caps ( Note 9 ). The interest rates presented for these mortgage loans reflect the interest rate swaps or caps in effect at September 30, 2015 . (c) These mortgage loans have payments that are interest-only until their respective maturity dates. (d) On February 27, 2015, we completed the refinancing of these mortgage loans and consolidated them into one mortgage loan. During the nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $0.7 million related to this refinancing within Other income and (expenses) in our consolidated financial statements. (e) On July 1, 2015, we refinanced these mortgage loans and entered into a new credit facility for $28.9 million , which is based on the exchange rate of the British pound sterling on that date. This new credit facility now covers our entire trade counter and industrial asset portfolio located throughout the United Kingdom. During the three and nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $0.5 million related to this refinancing within Other income and (expenses) in our consolidated financial statements. (f) This mortgage loan is allocated between our St. Petersburg Self Storage and Kissimmee Self Storage investments, which are jointly and severally liable for any possible defaults on the loan. (g) This mortgage loan is allocated to the six self-storage properties purchased from July 22, 2014 through October 9, 2014. (h) On February 18, 2015, we obtained a mortgage loan for $48.1 million , which was allocated to nine self-storage properties purchased from October 28, 2014 through February 18, 2015. (i) On May 27, 2015, we obtained a mortgage loan for $37.2 million , which was allocated to several of the self-storage properties purchased from February 4, 2015 through May 26, 2015. (j) In conjunction with the sale of the Crowne Group Inc. properties ( Note 6 ), we paid off the existing mortgage loans that encumbered all of these properties. The buyer paid the prepayment penalty on our behalf due to unwinding of the related interest rate swap agreement. During the three and nine months ended September 30, 2015 , we recognized a loss on extinguishment of debt of $1.1 million related to the termination of this swap within Other income and (expenses) in our consolidated financial statements. (k) In conjunction with this investment ( Note 5 ), on May 28, 2015, we issued privately-placed bonds totaling $64.2 million , which is based on the exchange rate of the Norwegian krone at that date. These bonds are collateralized by the COOP property and have a fixed coupon of 4.2% and a maturity date of May 28, 2025 . (l) This bond is inflation-linked to the consumer price index, or CPI, of Norway, and the annual principal balance will increase as that inflation index increases.
Schedule of Debt Maturities	Scheduled debt principal payments during the remainder of 2015, each of the next four calendar years following December 31, 2015 , and thereafter are as follows (in thousands): Years Ending December 31, Total 2015 (remainder) $ 695 2016 3,208 2017 15,756 2018 20,368 2019 4,241 Thereafter through 2039 898,462 942,730 Unamortized premium 1,275 Total $ 944,005 Certain amounts in the table above are based on the applicable foreign currency exchange rate at September 30, 2015 . The carrying value of our Non-recourse debt and Bonds payable decreased by $30.3 million from December 31, 2014 to September 30, 2015 , due to the strengthening of the U.S. dollar relative to foreign currencies during the same period.

Loss Per Share and Equity (Tabl

Loss Per Share and Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Basic and Diluted Loss Per Share	The following table presents loss per share (in thousands, except share and per share amounts): Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Basic and Diluted Weighted-Average Shares Outstanding Allocation of Loss Basic and Diluted Loss Class A common stock 102,293,880 $ (7,078 ) $ (0.07 ) 99,007,256 $ (9,426 ) $ (0.10 ) Class C common stock 29,279,706 (2,697 ) (0.09 ) 9,925,481 (1,175 ) (0.12 ) Net loss attributable to CPA ® :18 – Global $ (9,775 ) $ (10,601 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Basic and Diluted Weighted-Average Allocation of Loss Basic and Diluted Loss Class A common stock 101,471,695 $ (31,659 ) $ (0.31 ) 71,680,784 $ (26,695 ) $ (0.37 ) Class C common stock 26,925,898 (10,237 ) (0.38 ) 6,646,337 (2,934 ) (0.44 ) Net loss attributable to CPA ® :18 – Global $ (41,896 ) $ (29,629 )
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, 2015 Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Total Beginning balance $ 3,430 $ (39,391 ) $ (35,961 ) Other comprehensive loss before reclassifications (256 ) (6,724 ) (6,980 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 1,401 — 1,401 Other income and (expenses) (308 ) — (308 ) Net current-period Other comprehensive income (loss) 837 (6,724 ) (5,887 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 1,300 1,300 Ending balance $ 4,267 $ (44,815 ) $ (40,548 ) Three Months Ended September 30, 2014 Gains and Losses Foreign Currency Translation Adjustments Total Beginning balance $ (1,351 ) $ (1,076 ) $ (2,427 ) Other comprehensive income (loss) before reclassifications 1,676 (11,443 ) (9,767 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 212 — 212 Net current-period Other comprehensive income (loss) 1,888 (11,443 ) (9,555 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 3,252 3,252 Ending balance $ 537 $ (9,267 ) $ (8,730 ) Nine Months Ended September 30, 2015 Gains and Losses on Derivative Instruments Foreign Currency Translation Adjustments Total Beginning balance $ 1,152 $ (22,093 ) $ (20,941 ) Other comprehensive income (loss) before reclassifications 1,984 (28,202 ) (26,218 ) Amounts reclassified from accumulated other comprehensive income (loss) to: Interest expense 2,001 — 2,001 Other income and (expenses) (870 ) — (870 ) Net current-period Other comprehensive income (loss) 3,115 (28,202 ) (25,087 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 5,480 5,480 Ending balance $ 4,267 $ (44,815 ) $ (40,548 ) Nine Months Ended September 30, 2014 Gains and Losses Foreign Currency Translation Adjustments Total Beginning balance $ (219 ) $ 125 $ (94 ) Other comprehensive income (loss) before reclassifications 256 (13,143 ) (12,887 ) Amounts reclassified from accumulated other comprehensive loss to: Interest expense 500 — 500 Net current-period Other comprehensive income (loss) 756 (13,143 ) (12,387 ) Net current-period Other comprehensive (income) loss attributable to noncontrolling interests — 3,751 3,751 Ending balance $ 537 $ (9,267 ) $ (8,730 )

Organization and Offering (Narr

Organization and Offering (Narratives) (Details) $ / shares in Units, ft² in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2015USD ($)	Sep. 30, 2015ft²propertytenant	May. 07, 2013USD ($)$ / shares
Additional Disclosures
Number of properties | property		54
Number of tenants | tenant		94
Area of real estate property | ft²		8.2
Public Offering
Capital interest ownership in operating partnership		99.97%
Common stock shares maximum offering			$ 1,400
Stock authorized during period share value dividend reinvestment plan			$ 150
Multi-Family
Additional Disclosures
Number of properties | property		6
Operating Real Estate
Additional Disclosures
Area of real estate property | ft²		5
Student housing development
Additional Disclosures
Number of properties | property		1
Class A common stock
Public Offering
Common stock, par or stated value per share, pursuant to DRIP | $ / shares			$ 9.60
Cumulative funds from offering	$ 977.4
Distributions reinvested through the DRIP	42
Class C common stock
Public Offering
Common stock, par or stated value per share, pursuant to DRIP | $ / shares			$ 8.98
Cumulative funds from offering	266.1
Distributions reinvested through the DRIP	$ 7.9
Self Storage | Business Combinations
Additional Disclosures
Number of properties | property		44

Revisions of Previously-Issue34

Revisions of Previously-Issued Financial Statements (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided Operating Activities	$ 12,671	$ 24,380	$ (411)
Net Cash Used in Investing Activities	(144,773)	(684,996)	(520,211)
Net Cash Provided by Financing Activities	247,265	504,370	1,068,471
Effect of exchange rate changes on cash and cash equivalents	(5,617)	$ (3,441)	$ (4,782)
Net cash provided by operating activities
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(1,000)
Effects of exchange rates on cash balance
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	500
Interest expense
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Loss before income taxes
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Net loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Net loss attributable to CPA 18
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	$ (900)
Net loss attributable to CPA 18 | Class A
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impact on net loss per share from adjustments to prior period financial statements	$ (0.01)
Net loss attributable to CPA 18 | Class C
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Impact on net loss per share from adjustments to prior period financial statements	$ (0.01)
Other assets
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	$ (900)
Total assets
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Distributions and accumulated losses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Total equity
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Comprehensive loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Comprehensive loss attributable to CPA 18
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	(900)
Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided Operating Activities	3,085
Net Cash Used in Investing Activities	536
Net Cash Provided by Financing Activities	(975)
Effect of exchange rate changes on cash and cash equivalents	(2,646)
Revisions | Accruals
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided by Financing Activities	(1,923)
Revisions | Capitalization and financing
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided by Financing Activities	948
Revisions | Foreign currency re-measurement
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment to prior period financial statements	$ 3,100

Revisions of Previously-Issue35

Revisions of Previously-Issued Financial Statements (Details 1) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided Operating Activities	$ 12,671	$ 24,380	$ (411)
Net Cash Used in Investing Activities	(144,773)	(684,996)	(520,211)
Net Cash Provided by Financing Activities	247,265	504,370	1,068,471
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash and cash equivalents	(5,617)	(3,441)	(4,782)
Net increase in cash and cash equivalents	109,546	(159,687)	543,067
Cash and cash equivalents, beginning of period	429,548	429,548	109,061
Cash and cash equivalents, end of period	539,094	269,861	$ 652,128
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided Operating Activities	9,586
Net Cash Used in Investing Activities	(145,309)
Net Cash Provided by Financing Activities	248,240
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash and cash equivalents	(2,971)
Net increase in cash and cash equivalents	109,546
Cash and cash equivalents, beginning of period	429,548	429,548
Cash and cash equivalents, end of period	539,094
Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided Operating Activities	3,085
Net Cash Used in Investing Activities	536
Net Cash Provided by Financing Activities	(975)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash and cash equivalents	(2,646)
Net increase in cash and cash equivalents	0
Cash and cash equivalents, beginning of period	0	$ 0
Cash and cash equivalents, end of period	0
Accrual for the settlement of proceeds from the sale of shares | Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided by Financing Activities	(1,923)
Capitalization and financing | Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net Cash Provided by Financing Activities	$ 948

Revisions of Previously-Issue36

Revisions of Previously-Issued Financial Statements (Details 2) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Total revenues	$ 37,069	$ 14,882	$ 94,713	$ 34,224
Operating Expenses
Total operating expenses	42,174	18,580	110,700	53,770
Other Income and Expenses
Interest expense	(7,970)	(4,311)	(24,065)	(10,163)
Other income and (expenses)	(2,324)	(2,100)	(4,256)	(1,731)
Other Income and Expenses	(10,294)	(6,411)	(28,321)	(11,894)
Loss before income taxes	(15,399)	(10,109)	(44,308)	(31,440)
Benefit from income taxes	1,062	644	854	422
Net Loss	(7,683)	(9,465)	(36,800)	(31,018)
Net loss attributable to noncontrolling interests	(2,092)	(1,136)	(5,096)	1,389
Net Loss Attributable to CPA®:18 – Global	(9,775)	(10,601)	(41,896)	(29,629)
Class A
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global	$ (7,078)	$ (9,426)	$ (31,659)	$ (26,695)
Basic and diluted weighted-average shares outstanding	102,293,880	99,007,256	101,471,695	71,680,784
Net loss per share (in dollars per share)	$ (0.07)	$ (0.10)	$ (0.31)	$ (0.37)
Class C
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global	$ (2,697)	$ (1,175)	$ (10,237)	$ (2,934)
Basic and diluted weighted-average shares outstanding	29,279,706	9,925,481	26,925,898	6,646,337
Net loss per share (in dollars per share)	$ (0.09)	$ (0.12)	$ (0.38)	$ (0.44)
As Reported
Revenues
Total revenues		$ 14,882		$ 34,224
Operating Expenses
Total operating expenses		18,580		53,770
Other Income and Expenses
Interest expense		(4,311)		(10,163)
Other income and (expenses)		852		1,814
Other Income and Expenses		(3,459)		(8,349)
Loss before income taxes		(7,157)		(27,895)
Benefit from income taxes		644		422
Net Loss		(6,513)		(27,473)
Net loss attributable to noncontrolling interests		(1,136)		1,389
Net Loss Attributable to CPA®:18 – Global		(7,649)		(26,084)
As Reported | Class A
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global		$ (6,743)		$ (23,451)
Basic and diluted weighted-average shares outstanding		99,007,256		71,680,784
Net loss per share (in dollars per share)		$ (0.07)		$ (0.33)
As Reported | Class C
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global		$ (906)		$ (2,633)
Basic and diluted weighted-average shares outstanding		9,925,481		6,646,337
Net loss per share (in dollars per share)		$ (0.09)		$ (0.40)
Revisions
Revenues
Total revenues		$ 0		$ 0
Operating Expenses
Total operating expenses		0		0
Other Income and Expenses
Interest expense		0		0
Other income and (expenses)		(2,952)		(3,545)
Other Income and Expenses		(2,952)		(3,545)
Loss before income taxes		(2,952)		(3,545)
Benefit from income taxes		0		0
Net Loss		(2,952)		(3,545)
Net loss attributable to noncontrolling interests		0		0
Net Loss Attributable to CPA®:18 – Global		(2,952)		(3,545)
Revisions | Class A
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global		$ (2,683)		$ (3,244)
Basic and diluted weighted-average shares outstanding		0		0
Net loss per share (in dollars per share)		$ (0.03)		$ (0.04)
Revisions | Class C
Other Income and Expenses
Net Loss Attributable to CPA®:18 – Global		$ (269)		$ (301)
Basic and diluted weighted-average shares outstanding		0		0
Net loss per share (in dollars per share)		$ (0.03)		$ (0.04)

Revisions of Previously-Issue37

Revisions of Previously-Issued Financial Statements (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income
Net Loss	$ (7,683)	$ (9,465)	$ (36,800)	$ (31,018)
Other Comprehensive Loss
Foreign currency translation adjustments	(6,724)	(11,443)	(28,202)	(13,143)
Change in net unrealized gain on derivative instruments	837	1,888	3,115	756
Other Comprehensive Loss	(5,887)	(9,555)	(25,087)	(12,387)
Comprehensive Loss	(13,570)	(19,020)	(61,887)	(43,405)
Amounts Attributable to Noncontrolling Interests
Net (income) loss	(2,092)	(1,136)	(5,096)	1,389
Foreign currency translation adjustments	1,300	3,252	5,480	3,751
Comprehensive loss (income) attributable to noncontrolling interests	(792)	2,116	384	5,140
Comprehensive Loss Attributable to CPA®:18 – Global	$ (14,362)	(16,904)	$ (61,503)	(38,265)
As Reported
Statement of Comprehensive Income
Net Loss		(6,513)		(27,473)
Other Comprehensive Loss
Foreign currency translation adjustments		(14,395)		(16,688)
Change in net unrealized gain on derivative instruments		1,888		756
Other Comprehensive Loss		(12,507)		(15,932)
Comprehensive Loss		(19,020)		(43,405)
Amounts Attributable to Noncontrolling Interests
Net (income) loss		(1,136)		1,389
Foreign currency translation adjustments		3,252		3,751
Comprehensive loss (income) attributable to noncontrolling interests		2,116		5,140
Comprehensive Loss Attributable to CPA®:18 – Global		(16,904)		(38,265)
Revisions
Statement of Comprehensive Income
Net Loss		(2,952)		(3,545)
Other Comprehensive Loss
Foreign currency translation adjustments		2,952		3,545
Change in net unrealized gain on derivative instruments		0		0
Other Comprehensive Loss		2,952		3,545
Comprehensive Loss		0		0
Amounts Attributable to Noncontrolling Interests
Net (income) loss		0		0
Foreign currency translation adjustments		0		0
Comprehensive loss (income) attributable to noncontrolling interests		0		0
Comprehensive Loss Attributable to CPA®:18 – Global		$ 0		$ 0

Revisions of Previously-Issue38

Revisions of Previously-Issued Financial Statements (Details 4) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	$ 1,000,824	$ 1,000,228	$ 980,821	$ 250,471
Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	1,186,583	1,056,862	996,722	215,371
Distributions and Accumulated Losses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	(212,083)	(111,878)	(68,012)	(2,567)
Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	(40,548)	(20,941)	(8,730)	(94)
Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	(7,141)	(1,520)	(371)
Total CPA 18 - Global Stockholders
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	926,943	922,641	919,720	212,734
Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	73,881	77,587	61,101	37,737
Class A
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	$ 103	$ 100	$ 99	$ 21
Common stock, shares outstanding	102,360,384	99,924,009	99,132,878	21,290,097
Class C
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity	$ 29	$ 18	$ 12	$ 3
Common stock, shares outstanding	29,294,278	18,026,013	12,242,048	2,776,001
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 980,821
As Reported | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			996,722
As Reported | Distributions and Accumulated Losses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			(64,467)
As Reported | Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			(12,275)
As Reported | Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			(371)
As Reported | Total CPA 18 - Global Stockholders
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			919,720
As Reported | Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			61,101
As Reported | Class A
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 99
Common stock, shares outstanding			99,132,878
As Reported | Class C
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 12
Common stock, shares outstanding			12,242,048
Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 0
Revisions | Additional Paid-In Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			0
Revisions | Distributions and Accumulated Losses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			(3,545)
Revisions | Accumulated Other Comprehensive Loss
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			3,545
Revisions | Treasury Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			0
Revisions | Total CPA 18 - Global Stockholders
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			0
Revisions | Noncontrolling Interests
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			0
Revisions | Class A
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 0
Common stock, shares outstanding			0
Revisions | Class C
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total equity			$ 0
Common stock, shares outstanding			0

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details)	Sep. 30, 2015
Variable Interest Entity
Variable interest entities, count	3
Consolidated properties
Variable Interest Entity
Variable interest entities, count	2

Agreements and Transactions w40

Agreements and Transactions with Related Parties (Narratives) (Details) $ / shares in Units, $ in Thousands	Oct. 31, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 18, 2013USD ($)property	Aug. 20, 2013USD ($)	Sep. 30, 2015USD ($)property$ / sharesshares	Sep. 30, 2014USD ($)shares	Sep. 30, 2015USD ($)property$ / sharesshares	Sep. 30, 2014USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013shares
Related Party Transaction [Line Items]
Aggregate gross proceeds from offering threshold ( percentage)					1.50%		1.50%
Organizational costs incurred							$ 8,700
Maximum line of credit approved by directors					$ 100,000		100,000
Due to Related Party
Shareholder servicing fee					$ 671	$ 230	$ 1,836	$ 459
Maximum personnel and overhead reimbursement, percentage					2.40%		2.40%
Legal fee reimbursement rate					0.25%		0.25%
Preferred Return							5.00%
Net investments in properties					$ 1,313,066		$ 1,313,066		$ 865,517
Number of properties acquired | property					38		38
2,016
Due to Related Party
Maximum personnel and overhead reimbursement, percentage					2.20%		2.20%
2,017
Due to Related Party
Maximum personnel and overhead reimbursement, percentage					2.00%		2.00%
Contract sales price of investment
Due to Related Party
Percentage of subordinated disposition fees							3.00%
Adjusted net income
Due to Related Party
Percentage of operating expense reimbursement							25.00%
Average invested asset
Due to Related Party
Percentage of operating expense reimbursement							2.00%
Real estate commission
Due to Related Party
Percentage of subordinated disposition fees							50.00%
Current
Due to Related Party
Percentage of acquisition fees							2.50%
Deferred
Due to Related Party
Percentage of acquisition fees							2.00%
Class A common stock
Related Party Transaction [Line Items]
Common stock initial public offering par or stated value per share | $ / shares					$ 10		$ 10
Number of shares held by advisor | shares					102,360,384	99,132,878	102,360,384	99,132,878	99,924,009	21,290,097
Due to Related Party
Selling commission per share sold | $ / shares					$ 0.70		$ 0.70
Dealer manager fee per share sold | $ / shares					$ 0.30		$ 0.30
Class A common stock | Advisor
Related Party Transaction [Line Items]
Number of shares held by advisor | shares					751,111		751,111
Advisor owned percentage of common stock					0.70%		0.70%
Class C common stock
Related Party Transaction [Line Items]
Number of shares held by advisor | shares					29,294,278	12,242,048	29,294,278	12,242,048	18,026,013	2,776,001
Due to Related Party
Selling commission per share sold | $ / shares					$ 0.14		$ 0.14
Dealer manager fee per share sold | $ / shares					$ 0.21		$ 0.21
Shareholder servicing fee					1.00%		1.00%
Minimum | Average market value of investment
Related Party Transaction [Line Items]
Percentage of asset management fees							0.50%
Maximum
Due to Related Party
Percentage of acquisition fees							6.00%
Maximum | Average equity value of investment
Related Party Transaction [Line Items]
Percentage of asset management fees							1.50%
Maximum | Cpa 18 Holdings
Due to Related Party
Available cash distribution, percentage							10.00%
Real Estate
Due to Related Party
Net investments in properties					$ 902,332		$ 902,332		$ 732,860
Number of properties acquired | property					5		5
Business Combinations
Due to Related Party
Number of properties acquired | property					31		31
Investment purchase price							$ 527,826
Konzum d.d. | Real Estate
Due to Related Party
Net investments in properties			$ 97,000
Ownership interest in jointly-owned investment			80.00%
Number of properties acquired | property			5
Investment purchase price			$ 77,600
Apply Sorco AS (c) | Real Estate
Due to Related Party
Net investments in properties	$ 108,300
Ownership interest in jointly-owned investment	51.00%
Investment purchase price	$ 55,200
Bank Pekao S.A. | Business Combinations
Due to Related Party
Net investments in properties		$ 147,900
Ownership interest in jointly-owned investment		50.00%
Investment purchase price		$ 74,000
State Farm Automobile Company (c) | Real Estate
Due to Related Party
Net investments in properties				$ 115,600
Ownership interest in jointly-owned investment				50.00%
Investment purchase price				$ 57,800

Agreements and Transactions w41

Agreements and Transactions with Related Parties (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Amounts Included in the Consolidated Statements of Operations
Acquisition expenses	$ 10,795	$ 8,861	$ 34,575	$ 31,827
Available Cash Distributions	1,705	590	4,021	1,196
Shareholder servicing fee	671	230	1,836	459
Personnel and overhead reimbursements	409	57	852	87
Interest expense on deferred acquisition fees	101	43	274	97
Stock-based compensation	100	99	100	99
Operating expenses	11,935	6,647	37,859	27,393
Other Transaction Fees Incurred
Current acquisition fees	677	0	7,052	1,251
Deferred acquisition fees	542	0	5,641	1,000
Offering costs	48	640	613	2,626
Selling commissions and dealer manager fees	0	2,695	3,746	79,926
Transaction fees incurred	1,267	3,335	17,052	84,803
Related Party
Amounts Included in the Consolidated Statements of Operations
Acquisition expenses	6,851	4,915	25,532	23,808
Asset management fees	$ 2,098	$ 713	$ 5,244	$ 1,647

Agreements and Transactions w42

Agreements and Transactions with Related Parties (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Due to Related Parties [Abstract]
Deferred acquisition fees, including interest	$ 24,180	$ 17,525
Accounts payable	2,858	2,702
Current acquisition fees	1,355	0
Asset management fees payable	716	378
Reimbursable costs	256	46
Due to affiliate	$ 29,365	$ 20,651

Net Investments in Properties43

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

Sep. 30, 2015USD ($)property

Sep. 29, 2015USD ($)property

Sep. 01, 2015USD ($)

Aug. 11, 2015USD ($)

Jul. 30, 2015USD ($)

Jul. 28, 2015USD ($)

Jul. 23, 2015USD ($)room

Jul. 10, 2015USD ($)

Jul. 09, 2015USD ($)

Jun. 22, 2015USD ($)

Jun. 17, 2015USD ($)

Jun. 16, 2015USD ($)property

Jun. 08, 2015USD ($)room

May. 28, 2015USD ($)

May. 27, 2015USD ($)

May. 26, 2015USD ($)

May. 18, 2015USD ($)

May. 12, 2015USD ($)

May. 08, 2015USD ($)

Apr. 29, 2015USD ($)

Apr. 28, 2015USD ($)

Apr. 17, 2015USD ($)

Apr. 10, 2015USD ($)property

Apr. 02, 2015USD ($)property

Mar. 24, 2015USD ($)

Mar. 20, 2015USD ($)

Mar. 10, 2015USD ($)

Feb. 25, 2015USD ($)

Feb. 19, 2015USD ($)

Feb. 18, 2015USD ($)

Feb. 04, 2015USD ($)

Jan. 29, 2015USD ($)

Jan. 28, 2015USD ($)

Jan. 15, 2015USD ($)room

Jul. 31, 2015USD ($)

Sep. 30, 2015USD ($)property

Sep. 30, 2014USD ($)

Sep. 30, 2015USD ($)property

Sep. 30, 2014USD ($)

Dec. 31, 2014USD ($)property

Aug. 04, 2015USD ($)

Jul. 21, 2015USD ($)

May. 29, 2015USD ($)

Oct. 09, 2014property

Real Estate Properties [Line Items]

Capitalized funds

$ 116,544

$ 20,617

Placed into service

$ 12,450

18,502

Acqusition

Number of properties acquired | property

38

38

38

Bonds payable

$ 139,247

$ 139,247

$ 139,247

91,250

Goodwill

20,325

20,325

20,325

9,692

Non-recourse debt

$ 804,758

804,758

804,758

430,462

Capitalized interest

1,680

$ 143

Effect of exchange rate fluctuation

(6,724)

$ (11,443)

(28,202)

$ (13,143)

Acquisition expenses

$ 10,795

$ 8,861

34,575

31,827

Contributions from noncontrolling interests

$ 4,132

$ 95,889

Acosta (a)

Acqusition

Investment purchase price

$ 16,500

Mortgage loan acquired

$ 10,700

Total BTS

Acqusition

Number of properties acquired | property

5

5

5

1

Unfunded commitment

$ 129,300

$ 129,300

$ 129,300

$ 9,700

Build To Suit Projects

Acqusition

Investment purchase price

96,900

Capitalized interest

$ 12,600

Build To Suit Projects | Melia

Acqusition

Investment purchase price

$ 7,200

Contractual obligation

$ 31,600

Build To Suit Projects | Marriott

Acqusition

Investment purchase price

$ 50,700

Contractual obligation

$ 81,600

Build To Suit Projects | Marriott | Additional Funding

Acqusition

Investment purchase price

$ 16,500

Build To Suit Projects | Rabobank

Acqusition

Investment purchase price

$ 21,700

Contractual obligation

$ 91,100

Build To Suit Projects | Reading

Acqusition

Ownership interest in jointly-owned investment

96.00%

Investment purchase price

$ 17,300

Contractual obligation

$ 45,600

Real Estate

Acqusition

Number of properties acquired | property

5

5

5

Effect of exchange rate fluctuation

$ (49,900)

Real Estate | Initial Funding

Real Estate Properties [Line Items]

Capitalized funds

100,600

Real Estate | Additional Funding

Real Estate Properties [Line Items]

Capitalized funds

$ 15,900

Business Combinations

Acqusition

Number of properties acquired | property

31

31

31

Investment purchase price

$ 527,826

Deferred tax liability

$ 16,708

$ 16,708

16,708

Goodwill

12,484

12,484

12,484

Acquisition expenses

17,000

Business Combinations | Exelon (a)

Acqusition

Investment purchase price

$ 32,900

Mortgage loan acquired

$ 22,600

Business Combinations | Jacobsweerd (a)

Acqusition

Investment purchase price

$ 46,200

Contingent asset acquired

600

Mortgage loan acquired

$ 30,100

Business Combinations | COOP (a) (c) (k)

Acqusition

Ownership interest in jointly-owned investment

90.00%

Investment purchase price

$ 88,331

Investment purchase price, including portion attributable to noncontrolling interest

98,000

Bonds payable

64,200

Contingent asset acquired

800

Deferred tax liability

16,708

Goodwill

$ 12,484

Contributions from noncontrolling interests

$ 1,400

Business Combinations | Core-Mark (a) (c)

Acqusition

Investment purchase price

$ 15,000

Mortgage loan acquired

$ 10,500

Business Combinations | Intuit Inc. (a) (c)

Acqusition

Investment purchase price

$ 33,700

Mortgage loan acquired

$ 21,900

Business Combinations | Republic

Acqusition

Investment purchase price

$ 3,700

Mortgage loan acquired

$ 3,200

Business Combinations | Broadfold

Acqusition

Investment purchase price

$ 6,800

Operating Real Estate

Acqusition

Number of properties acquired | property

6

Investment purchase price

305,100

Non-recourse debt

23,000

$ 23,000

23,000

23,000

Acquisition expenses

$ 10,400

Operating Real Estate | Self Storage Facility in Hudson, FL

Acqusition

Investment purchase price

$ 5,000

Operating Real Estate | Self Storage Facility in Las Vegas, NV

Acqusition

Number of properties acquired | property

2

Investment purchase price

$ 7,000

Operating Real Estate | Self-Storage Facility in Ithaca, NY

Acqusition

Investment purchase price

$ 3,500

Operating Real Estate | Self-Storage Facility in Houston, TX

Acqusition

Investment purchase price

$ 7,100

Operating Real Estate | Self-Storage Facility in Palm Bay, FL

Acqusition

Investment purchase price

$ 11,000

Operating Real Estate | Self-Storage Facility in Leesburg, FL

Acqusition

Investment purchase price

$ 3,700

Operating Real Estate | Self Storage Facility in Spencer, MO

Acqusition

Investment purchase price

$ 3,500

Operating Real Estate | Self Storage Facility in Sarasota, FL

Acqusition

Number of properties acquired | property

2

Investment purchase price

$ 13,700

Operating Real Estate | Self-Storage Facility in Panama City, FL

Acqusition

Investment purchase price

$ 9,400

Operating Real Estate | Self-Storage Facility in Las Vegas, NV

Acqusition

Investment purchase price

$ 9,800

Operating Real Estate | Self-Storage Facility in Crystal Lake, IL

Acqusition

Investment purchase price

$ 4,000

Operating Real Estate | Self-Storage Facility in Louisville, KY

Acqusition

Investment purchase price

$ 10,100

Operating Real Estate | Self-Storage Facilities in California

Acqusition

Number of properties acquired | property

7

Investment purchase price

$ 36,300

Operating Real Estate | Self-Storage Facilities in Lawrenceville and Stockbridge

Acqusition

Number of properties acquired | property

2

Investment purchase price

$ 6,100

Operating Real Estate | Self-Storage Facility in Panama City, FL

Acqusition

Investment purchase price

$ 4,000

Operating Real Estate | Self-Storage Facility in Lady Lake, FL

Acqusition

Investment purchase price

$ 6,000

Operating Real Estate | Self-Storage Facility in Sebastian, FL

Acqusition

Investment purchase price

$ 3,000

Operating Real Estate | Self-Storage Facility in Tallahassee, FL

Acqusition

Investment purchase price

$ 7,500

Operating Real Estate | Self-Storage Facility in Valrico, FL

Acqusition

Investment purchase price

$ 9,200

Operating Real Estate | Self-Storage Facility in Naples, FL

Acqusition

Investment purchase price

$ 15,600

Multi-Family

Acqusition

Number of properties acquired | property

4

4

4

Investment purchase price

$ 129,700

Acquisition expenses

$ 7,200

Multi-Family | Cayo Grande (a)

Acqusition

Ownership interest in jointly-owned investment

97.00%

Units | room

301

Investment purchase price

$ 25,700

Mortgage loan acquired

$ 18,200

Multi-Family | Grand Estates (a)

Acqusition

Ownership interest in jointly-owned investment

97.00%

Units | room

408

Investment purchase price

$ 42,500

Non-recourse debt

$ 29,800

Multi-Family | Pinnacle Ridge (a) (c)

Acqusition

Ownership interest in jointly-owned investment

97.00%

Units | room

350

Investment purchase price

$ 34,300

Non-recourse debt

$ 24,000

Multi-Family | Brantley Pines (a) (c)

Acqusition

Ownership interest in jointly-owned investment

97.00%

Units | room

296

Investment purchase price

$ 27,200

Non-recourse debt

$ 19,000

Self Storage

Acqusition

Number of properties acquired | property

20

20

20

Investment purchase price

$ 175,400

Mortgage loan acquired

$ 101,800

$ 101,800

101,800

Non-recourse debt

$ 14,500

$ 14,500

$ 14,500

$ 14,500

Direct financing lease

Acqusition

Number of properties acquired | property

1

1

1

Equity method investment

Acqusition

Number of properties acquired | property

1

1

1

Net Investments in Properties44

Net Investments in Properties (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments in real estate:
Less: Accumulated depreciation	$ (33,054)	$ (11,814)
Net investments in properties	1,313,066	865,517
Real Estate
Investments in real estate:
Land	173,505	104,604
Buildings	754,637	639,131
Less: Accumulated depreciation	(25,810)	(10,875)
Net investments in properties	902,332	732,860
Operating Real Estate
Investments in real estate:
Land	74,811	28,040
Buildings	343,167	105,556
Less: Accumulated depreciation	(7,244)	(939)
Net investments in properties	$ 410,734	$ 132,657

Net Investments in Properties45

Net Investments in Properties (Details 2) - USD ($) $ in Thousands	May. 28, 2015	Sep. 30, 2015	Dec. 31, 2014
Liabilities assumed at fair value:
Goodwill		$ 20,325	$ 9,692
Business Combinations
Acquisition consideration
Investment purchase price		527,826
Assets acquired at fair value:
Land		122,135
Buildings		366,473
In-place lease intangible assets		60,406
Above-market rent intangible assets		242
Other assets acquired		6,594
Total assets acquired in business combination		555,850
Liabilities assumed at fair value:
Below-market rent intangible liabilities		(8,036)
Deferred tax liability		(16,708)
Other liabilities assumed		(2,167)
Total liabilities acquired in business combination		(26,911)
Total identifiable net assets		528,939
Amounts attributable to noncontrolling interests		(13,597)
Goodwill		12,484
Net assets acquired including goodwill less noncontrolling interest		527,826
Business Combinations | COOP
Acquisition consideration
Investment purchase price	$ 88,331
Assets acquired at fair value:
Land	59,595
Buildings	33,049
In-place lease intangible assets	4,618
Above-market rent intangible assets	0
Other assets acquired	5,777
Total assets acquired in business combination	103,039
Liabilities assumed at fair value:
Below-market rent intangible liabilities	(63)
Deferred tax liability	(16,708)
Other liabilities assumed	(715)
Total liabilities acquired in business combination	(17,486)
Total identifiable net assets	85,553
Amounts attributable to noncontrolling interests	(9,706)
Goodwill	12,484
Net assets acquired including goodwill less noncontrolling interest	$ 88,331
Business Combinations | Net-Leased Property
Acquisition consideration
Investment purchase price		138,291
Assets acquired at fair value:
Land		15,767
Buildings		98,379
In-place lease intangible assets		31,681
Above-market rent intangible assets		105
Other assets acquired		549
Total assets acquired in business combination		146,481
Liabilities assumed at fair value:
Below-market rent intangible liabilities		(7,888)
Deferred tax liability		0
Other liabilities assumed		(302)
Total liabilities acquired in business combination		(8,190)
Total identifiable net assets		138,291
Amounts attributable to noncontrolling interests		0
Goodwill		0
Net assets acquired including goodwill less noncontrolling interest		138,291
Business Combinations | Operating Acquisition
Acquisition consideration
Investment purchase price		301,204
Assets acquired at fair value:
Land		46,773
Buildings		235,045
In-place lease intangible assets		24,107
Above-market rent intangible assets		137
Other assets acquired		268
Total assets acquired in business combination		306,330
Liabilities assumed at fair value:
Below-market rent intangible liabilities		(85)
Deferred tax liability		0
Other liabilities assumed		(1,150)
Total liabilities acquired in business combination		(1,235)
Total identifiable net assets		305,095
Amounts attributable to noncontrolling interests		(3,891)
Goodwill		0
Net assets acquired including goodwill less noncontrolling interest		$ 301,204

Net Investments in Properties46

Net Investments in Properties (Details 3) - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Revenues from acquired properties
Revenues	$ 37,069	$ 14,882		$ 94,713	$ 34,224
Net Loss	(7,683)	(9,465)		(36,800)	(31,018)
Net loss attributable to noncontrolling interests	(2,092)	(1,136)		(5,096)	1,389
Net Loss Attributable to CPA®:18 – Global	$ (9,775)	$ (10,601)		(41,896)	$ (29,629)
Business Combinations
Revenues from acquired properties
Revenues				20,054
Net Loss				(34,476)
Net loss attributable to noncontrolling interests				229
Net Loss Attributable to CPA®:18 – Global				(34,247)
Operating Real Estate | Business Combinations
Revenues from acquired properties
Revenues				14,630
Net Loss				(18,260)
Net loss attributable to noncontrolling interests				22
Net Loss Attributable to CPA®:18 – Global				(18,238)
Net-Leased Property | Business Combinations
Revenues from acquired properties
Revenues				3,313
Net Loss				(9,731)
Net loss attributable to noncontrolling interests				0
Net Loss Attributable to CPA®:18 – Global				$ (9,731)
COOP (a) (c) (k) | Business Combinations
Revenues from acquired properties
Revenues			$ 2,111
Net Loss			(6,485)
Net loss attributable to noncontrolling interests			207
Net Loss Attributable to CPA®:18 – Global			$ (6,278)

Net Investments in Properties47

Net Investments in Properties (Details 4) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pro Forma Information
Pro forma total revenues (a)	$ 38,607	$ 29,389	$ 111,886	$ 83,735
Pro forma net income (loss) (b)	3,937	(5,053)	(2,688)	(48,324)
Pro forma net income attributable to noncontrolling interests	(2,091)	(1,111)	(5,898)	(1,508)
Pro forma net income (loss) attributable to CPA®:18 – Global	1,846	(6,164)	(8,586)	(49,832)
Class A
Pro Forma Information
Pro forma net income (loss) attributable to CPA®:18 – Global	$ 2,005	$ (5,217)	$ (5,460)	$ (45,328)
Pro forma net (loss) earnings per share
Pro forma basic and diluted weighted-average shares outstanding (c)	114,802,620	111,515,996	113,980,435	84,189,524
Pro forma basic and diluted income (loss) per share	$ 0.02	$ (0.05)	$ (0.05)	$ (0.54)
Class C
Pro Forma Information
Pro forma net income (loss) attributable to CPA®:18 – Global	$ (159)	$ (947)	$ (3,126)	$ (4,504)
Pro forma net (loss) earnings per share
Pro forma basic and diluted weighted-average shares outstanding (c)	29,279,706	9,925,481	26,925,898	6,646,337
Pro forma basic and diluted income (loss) per share	$ (0.01)	$ (0.10)	$ (0.12)	$ (0.68)

Net Investments in Properties48

Net Investments in Properties (Details 5) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Real Estate Under Construction
Beginning balance	$ 2,258	$ 0
Capitalized funds	116,544	20,617
Foreign currency translation adjustments and other	707	0
Capitalized interest	1,680	143
Placed into service	(12,450)	(18,502)
Ending balance	$ 108,739	$ 2,258

Finance Receivables (Narratives

Finance Receivables (Narratives) (Details) $ in Thousands	Jun. 16, 2015USD ($)	Jul. 21, 2014USD ($)	Aug. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Finance Receivables
Interest income from direct financing leases				$ 1,047	$ 1,012	$ 3,079	$ 2,437
AR billed under DFL				300		300
Note receivable		$ 28,000		28,000		28,000		$ 28,000
Number of properties sold			5
Proceeds from sale of real estate			$ 35,700
Gain on sale of real estate, net of tax				6,654	$ 0	$ 6,654	$ 0
Loss on extinguishment of debt				$ 1,100
Cipriani
Finance Receivables
Interest rate on note receivable		10.00%
Senior note		$ 60,000
Cardiff
Finance Receivables
Investment purchase price	$ 13,200
Ownership interest in jointly-owned investment	94.50%

Finance Receivables (Details 1)

Finance Receivables (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Net Investments in Direct Financing Leases
Minimum lease payments receivable	$ 29,240	$ 86,338
Unguaranteed residual value	28,320	45,473
Gross investments in direct financing leases	57,560	131,811
Less: unearned income	(29,111)	(86,229)
Net investment in direct financing leases	$ 28,449	$ 45,582

Finance Receivables (Details 2)

Finance Receivables (Details 2) $ in Thousands	Sep. 30, 2015USD ($)tenant	Dec. 31, 2014USD ($)tenant
Credit Quality Of Finance Receivables
Carrying Value	$ 56,449	$ 73,582
Internally Assigned Grade 1
Credit Quality Of Finance Receivables
Number of tenants and obligors | tenant	1	0
Carrying Value	$ 12,953	$ 0
Internally Assigned Grade 2
Credit Quality Of Finance Receivables
Number of tenants and obligors | tenant	1	1
Carrying Value	$ 9,042	$ 8,962
Internally Assigned Grade 3
Credit Quality Of Finance Receivables
Number of tenants and obligors | tenant	3	4
Carrying Value	$ 34,454	$ 64,620
Internally Assigned Grade 4
Credit Quality Of Finance Receivables
Number of tenants and obligors | tenant	0	0
Carrying Value	$ 0	$ 0
Internally Assigned Grade 5
Credit Quality Of Finance Receivables
Number of tenants and obligors | tenant	0	0
Carrying Value	$ 0	$ 0

Intangible Assets and Liabili52

Intangible Assets and Liabilities (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Acquired Finite-Lived Intangible Assets and Liabilities
Net amortization of intangibles	$ 9	$ 2.7	$ 22.4	$ 6.4
Minimum
Acquired Finite-Lived Intangible Assets and Liabilities
Finite-lived intangible asset, useful life			1 year
Maximum
Acquired Finite-Lived Intangible Assets and Liabilities
Finite-lived intangible asset, useful life			30 years
Below-market ground lease | Maximum
Acquired Finite-Lived Intangible Assets and Liabilities
Finite-lived intangible asset, useful life			99 years

Intangible Assets and Liabili53

Intangible Assets and Liabilities (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Amortizable Intangible Assets
Acquired finite lived intangible assets	$ 65,273
Below-market rent
Amortizable Intangible Liability
Acquired finite-lived intangible liabilities, weighted average useful life	11 years 3 months 18 days
Acquired finite lived intangible liabilities	$ (8,460)
In-place lease
Amortizable Intangible Assets
Acquired finite-lived intangible assets, weighted average useful life	6 years 10 months 24 days
Acquired finite lived intangible assets	$ 62,891
Above-market rent
Amortizable Intangible Assets
Acquired finite-lived intangible assets, weighted average useful life	9 years 1 month 6 days
Acquired finite lived intangible assets	$ 2,382

Intangible Assets and Liabili54

Intangible Assets and Liabilities (Details 2) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill
Goodwill - beginning balance	$ 9,692
Acquisition of investment accounted for as business combination	13,131
Foreign currency translation	(2,498)
Goodwill - ending balance	$ 20,325

Intangible Assets and Liabili55

Intangible Assets and Liabilities (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Amortizable Intangible Assets
Finite-lived intangible assets, gross	$ 261,572	$ 204,184
Less: accumulated amortization	(33,560)	(10,882)
Finite-lived intangible assets, net	228,012	193,302
Goodwill	20,325	9,692
Total intangible assets, gross	281,897	213,876
Total intangible assets, net	248,337	202,994
Amortizable Intangible Liability
Finite-Lived Intangible Liabilities, Gross	(14,789)	(6,403)
Finite Lived Intangible Liabilities Accumulated Amortization	1,000	347
Finite Lived Intangible Liabilities Net	(13,789)	(6,056)
Below-market rent
Amortizable Intangible Liability
Finite-Lived Intangible Liabilities, Gross	(14,665)	(6,276)
Finite Lived Intangible Liabilities Accumulated Amortization	998	347
Finite Lived Intangible Liabilities Net	(13,667)	(5,929)
Above-market ground lease
Amortizable Intangible Liability
Finite-Lived Intangible Liabilities, Gross	(124)	(127)
Finite Lived Intangible Liabilities Accumulated Amortization	2	0
Finite Lived Intangible Liabilities Net	(122)	(127)
In-place lease
Amortizable Intangible Assets
Finite-lived intangible assets, gross	234,569	177,970
Less: accumulated amortization	(32,216)	(10,335)
Finite-lived intangible assets, net	202,353	167,635
Below-market ground lease
Amortizable Intangible Assets
Finite-lived intangible assets, gross	14,566	15,790
Less: accumulated amortization	(289)	(167)
Finite-lived intangible assets, net	14,277	15,623
Above-market rent
Amortizable Intangible Assets
Finite-lived intangible assets, gross	12,437	10,424
Less: accumulated amortization	(1,055)	(380)
Finite-lived intangible assets, net	$ 11,382	$ 10,044

Intangible Assets and Liabili56

Intangible Assets and Liabilities (Details 4) $ in Thousands	Sep. 30, 2015USD ($)
Net
2015 (remaining)	$ 9,349
2,016	30,831
2,017	20,345
2,018	16,897
2,019	16,385
Thereafter	120,416
Total	214,223
Net Increase in Rental Income
Net
2015 (remaining)	(24)
2,016	(106)
2,017	(149)
2,018	(197)
2,019	(207)
Thereafter	(1,602)
Total	(2,285)
Increase to Amortization/Property Expenses
Net
2015 (remaining)	9,373
2,016	30,937
2,017	20,494
2,018	17,094
2,019	16,592
Thereafter	122,018
Total	$ 216,508

Fair Value Measurements (Narrat

Fair Value Measurements (Narratives) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Fair Value
Leverage adjusted unsecured spread	2.13%
Illiquidity adjustment	0.75%
Rent guarantees, fair value	$ 1.4
Growth rate	2.00%
Minimum
Fair Value
Discount rate on rent guarantee	7.00%
Maximum
Fair Value
Discount rate on rent guarantee	9.00%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Level 3 - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Carrying Value
Liabilities
Debt (a)	$ 944,005	$ 521,712
Note receivable (b)	28,000	28,000
Deferred acquisition fees payable (c)	24,180	17,525
Fair Value
Liabilities
Debt (a)	957,787	540,577
Note receivable (b)	28,000	28,000
Deferred acquisition fees payable (c)	$ 23,355	$ 17,520

Risk Management and Use of De59

Risk Management and Use of Derivative Financial Instruments (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Loss on interest rate swap recognized in income	$ 0.1	$ 0.1
Total credit exposure	6.7	6.7
Derivative in net liability position	2.1	2.1	$ 2.6
Termination value of assets	2.1	2.1	$ 2.7
Interest expense
Derivative [Line Items]
Estimated amount of derivative income loss to be reclassified to interest expense in the next 12 months		0.7
Other income
Derivative [Line Items]
Estimated amount of derivative income loss to be reclassified to interest expense in the next 12 months		1.3
Individual Counterparty
Derivative [Line Items]
Total credit exposure	$ 3.8	$ 3.8

Risk Management and Use of De60

Risk Management and Use of Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value
Derivative asset fair value	$ 6,687	$ 3,664
Derivative liability, fair value	(1,999)	(2,501)
Foreign currency forwards contracts and collars | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Derivative asset fair value	6,676	3,664
Interest rate cap | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value
Derivative asset fair value	11	0
Foreign currency collars | Designated as Hedging Instrument | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Derivative liability, fair value	(22)	0
Interest rate swap | Designated as Hedging Instrument | Accounts payable, accrued expenses and other liabilities
Derivatives, Fair Value
Derivative liability, fair value	$ (1,977)	$ (2,501)

Risk Management and Use of De61

Risk Management and Use of Derivative Financial Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
Derivative instrument gain loss recognized in OCI	$ 1,113	$ 1,888	$ 3,481	$ 756
Interest rate swap | Cash Flow Hedging
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
Derivative instrument gain loss recognized in OCI	22	66	524	(953)
Foreign currency forwards contracts and collars | Cash Flow Hedging
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
Derivative instrument gain loss recognized in OCI	835	1,822	2,624	1,709
Foreign currency forwards contracts and collars | Net Investment Hedging
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
Derivative instrument gain loss recognized in OCI	276	0	366	0
Interest rate cap | Cash Flow Hedging
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
Derivative instrument gain loss recognized in OCI	$ (20)	$ 0	$ (33)	$ 0

Risk Management and Use of De62

Risk Management and Use of Derivative Financial Instruments (Details 3) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrecognized loss related to interest rate swap reclassified to interest expense	$ (1,093)	$ (212)	$ (1,131)	$ (500)
Interest rate swap | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrecognized loss related to interest rate swap reclassified to interest expense	(1,401)	(212)	(2,001)	(500)
Foreign currency forwards contracts and collars | Other income and (expense)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrecognized loss related to interest rate swap reclassified to interest expense	$ 308	$ 0	$ 870	$ 0

Risk Management and Use of De63

Risk Management and Use of Derivative Financial Instruments (Details 4) $ in Thousands	Sep. 30, 2015USD ($)instrument
Interest rate swap
Derivative
Fair value	$ (1,966)
Interest rate swap | USD
Derivative
Number of Instruments | instrument	5
Notional Amount	$ 30,347
Fair value	$ (1,977)
Interest rate cap | USD
Derivative
Number of Instruments | instrument	1
Notional Amount	$ 16,400
Fair value	$ 11

Risk Management and Use of De64

Risk Management and Use of Derivative Financial Instruments (Details 5) - Designated as Hedging Instrument - Foreign currency forward contracts and collars € in Thousands, NOK in Thousands, $ in Thousands	Sep. 30, 2015USD ($)instrument	Sep. 30, 2015NOKinstrument	Sep. 30, 2015EUR (€)instrument
Derivative
Fair value	$ 6,654
Cash Flow Hedging | Euro
Derivative
Number of Instruments | instrument	79	79	79
Notional Amount | €			€ 30,673
Fair value	$ 3,880
Cash Flow Hedging | NOK
Derivative
Number of Instruments | instrument	54	54	54
Notional Amount | NOK		NOK 99,623
Fair value	$ 2,396
Net Investment Hedging | NOK
Derivative
Number of Instruments | instrument	8	8	8
Notional Amount | NOK		NOK 30,560
Fair value	$ 378

Debt (Narratives) (Details)

Debt (Narratives) (Details) $ in Thousands	May. 28, 2015USD ($)	Sep. 30, 2015USD ($)property	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)property	Sep. 30, 2014USD ($)	Jul. 01, 2015USD ($)	May. 27, 2015USD ($)	Feb. 18, 2015USD ($)property	Dec. 31, 2014USD ($)	Oct. 09, 2014property
Debt Instrument [Line Items]
Effect of exchange rate fluctuation		$ (6,724)	$ (11,443)	$ (28,202)	$ (13,143)
Debt Instruments
Real estate property carrying value		1,300,000		1,300,000					$ 752,600
Deferred financing costs, capitalized				5,100
Non-recourse debt		804,758		804,758					430,462
Loss on extinguishment of debt		1,100
Bonds payable		$ 139,247		$ 139,247					91,250
Number of properties acquired | property		38		38
Truffle Portfolio/Oakbank Portfolio (e)
Debt Instruments
Non-recourse debt		$ 28,019		$ 28,019					11,401
Loss on extinguishment of debt		$ 500		$ 100
Interest Rate		4.00%		4.00%
Maturity Date				Jul. 15, 2020
Credit facility						$ 28,900
Club Med Albion Resorts, or Albion Resorts (d)
Debt Instruments
Non-recourse debt		$ 26,887		$ 26,887					19,264
Loss on extinguishment of debt				$ 700
Interest Rate		4.00%		4.00%
Maturity Date				Feb. 26, 2020
Self-storage – Multiple properties (g)
Debt Instruments
Non-recourse debt		$ 23,000		$ 23,000					23,000
Interest Rate		4.40%		4.40%
Maturity Date				Oct. 11, 2024
Number of properties acquired | property										6
Self-storage – Multiple properties (a) (h)
Debt Instruments
Non-recourse debt		$ 48,138		$ 48,138				$ 48,100	0
Interest Rate		4.30%		4.30%
Maturity Date				Mar. 11, 2025
Number of properties acquired | property								9
Self-storage – Multiple properties (a) (i)
Debt Instruments
Non-recourse debt		$ 37,246		$ 37,246			$ 37,200		0
Interest Rate		4.30%		4.30%
Maturity Date				Jun. 11, 2025
COOP (a) (c) (k)
Debt Instruments
Interest Rate	4.20%	4.20%		4.20%
Bonds payable	$ 64,200	$ 58,811		$ 58,811					$ 0
Maturity Date	May 28, 2025			May 28, 2025
Long-term debt
Debt Instrument [Line Items]
Effect of exchange rate fluctuation				$ (30,300)

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Thousands	May. 28, 2015	Sep. 30, 2015	May. 27, 2015	Feb. 18, 2015	Dec. 31, 2014
Outsanding Debt
Non-recourse debt		$ 804,758			$ 430,462
Bonds payable		$ 139,247			91,250
Infineon Technologies AG
Outsanding Debt
Interest Rate		3.10%
Rate Type		Fixed
Maturity Date		Feb. 28, 2017
Non-recourse debt		$ 12,431			13,756
Self-storage – Multiple properties (a) (b) (c)
Outsanding Debt
Interest Rate		1.80%
Rate Type		Variable
Maturity Date		May 1, 2018
Non-recourse debt		$ 16,400			0
Club Med Albion Resorts, or Albion Resorts (d)
Outsanding Debt
Interest Rate		4.00%
Rate Type		Fixed
Maturity Date		Feb. 26, 2020
Non-recourse debt		$ 26,887			19,264
Truffle Portfolio/Oakbank Portfolio (e)
Outsanding Debt
Interest Rate		4.00%
Rate Type		Fixed
Maturity Date		Jul. 15, 2020
Non-recourse debt		$ 28,019			11,401
Jacobsweerd (a)
Outsanding Debt
Interest Rate		1.60%
Rate Type		Fixed
Maturity Date		Jul. 29, 2020
Non-recourse debt		$ 30,654			0
Konzum d.d.
Outsanding Debt
Interest Rate		5.80%
Rate Type		Fixed
Maturity Date		Dec. 31, 2020
Non-recourse debt		$ 33,478			37,038
Bank Pekao S.A.
Outsanding Debt
Interest Rate		3.30%
Rate Type		Fixed
Maturity Date		Mar. 10, 2021
Non-recourse debt		$ 59,768			64,852
Dupont Place Apartments (c)
Outsanding Debt
Interest Rate		3.80%
Rate Type		Fixed
Maturity Date		Nov. 1, 2021
Non-recourse debt		$ 14,140			14,140
Gentry’s Walk (c)
Outsanding Debt
Interest Rate		3.80%
Rate Type		Fixed
Maturity Date		Nov. 1, 2021
Non-recourse debt		$ 15,330			15,330
Brantley Pines (a) (c)
Outsanding Debt
Interest Rate		3.80%
Rate Type		Fixed
Maturity Date		Feb. 1, 2022
Non-recourse debt		$ 19,040			0
Pinnacle Ridge (a) (c)
Outsanding Debt
Interest Rate		3.20%
Rate Type		Fixed
Maturity Date		Feb. 1, 2022
Non-recourse debt		$ 24,045			0
Royal Vopak NV
Outsanding Debt
Interest Rate		2.20%
Rate Type		Fixed
Maturity Date		Feb. 9, 2022
Non-recourse debt		$ 38,138			0
Cayo Grande (a)
Outsanding Debt
Interest Rate		4.30%
Rate Type		Fixed
Maturity Date		Aug. 1, 2022
Non-recourse debt		$ 18,200			0
Exelon (a)
Outsanding Debt
Interest Rate		4.30%
Rate Type		Fixed
Maturity Date		Sep. 10, 2022
Non-recourse debt		$ 22,620			0
State Farm Automobile Company (c)
Outsanding Debt
Interest Rate		4.50%
Rate Type		Fixed
Maturity Date		Sep. 10, 2023
Non-recourse debt		$ 72,800			72,800
Self-storage – Multiple properties (f)
Outsanding Debt
Interest Rate		4.90%
Rate Type		Fixed
Maturity Date		Feb. 1, 2024
Non-recourse debt		$ 14,500			14,500
Automobile Protection Corporation (b)
Outsanding Debt
Interest Rate		5.10%
Rate Type		Variable
Maturity Date		Feb. 5, 2024
Non-recourse debt		$ 3,678			3,752
Solo Cup Operating Company (c)
Outsanding Debt
Interest Rate		5.10%
Rate Type		Fixed
Maturity Date		Feb. 6, 2024
Non-recourse debt		$ 47,250			47,250
Swift Spinning Inc.
Outsanding Debt
Interest Rate		5.00%
Rate Type		Fixed
Maturity Date		May 1, 2024
Non-recourse debt		$ 7,655			7,738
Janus International (b)
Outsanding Debt
Interest Rate		4.90%
Rate Type		Variable
Maturity Date		May 5, 2024
Non-recourse debt		$ 11,538			11,538
Bell Telephone Company
Outsanding Debt
Interest Rate		4.60%
Rate Type		Fixed
Maturity Date		Jun. 11, 2024
Non-recourse debt		$ 8,000			8,000
Self-storage – Multiple properties (g)
Outsanding Debt
Interest Rate		4.40%
Rate Type		Fixed
Maturity Date		Oct. 11, 2024
Non-recourse debt		$ 23,000			23,000
Cooper Tire & Rubber Company (b)
Outsanding Debt
Interest Rate		4.70%
Rate Type		Variable
Maturity Date		Oct. 31, 2024
Non-recourse debt		$ 6,704			6,704
Barnsco Inc. (b)
Outsanding Debt
Interest Rate		4.50%
Rate Type		Variable
Maturity Date		Nov. 14, 2024
Non-recourse debt		$ 5,200			5,200
Alliant Techsystems Inc.
Outsanding Debt
Interest Rate		4.20%
Rate Type		Fixed
Maturity Date		Jan. 6, 2025
Non-recourse debt		$ 27,650			27,650
Belk Inc.
Outsanding Debt
Interest Rate		4.30%
Rate Type		Fixed
Maturity Date		Feb. 10, 2025
Non-recourse debt		$ 28,225			0
Self-storage – Multiple properties (a) (h)
Outsanding Debt
Interest Rate		4.30%
Rate Type		Fixed
Maturity Date		Mar. 11, 2025
Non-recourse debt		$ 48,138		$ 48,100	0
Self-storage – Multiple properties (a) (i)
Outsanding Debt
Interest Rate		4.30%
Rate Type		Fixed
Maturity Date		Jun. 11, 2025
Non-recourse debt		$ 37,246	$ 37,200		0
Core-Mark (a) (c)
Outsanding Debt
Interest Rate		4.40%
Rate Type		Fixed
Maturity Date		Jun. 11, 2025
Non-recourse debt		$ 10,500			0
Grand Estates (a)
Outsanding Debt
Interest Rate		4.10%
Rate Type		Fixed
Maturity Date		Jul. 1, 2025
Non-recourse debt		$ 29,750			0
Republic Services, Inc. (a) (b)
Outsanding Debt
Interest Rate		4.50%
Rate Type		Variable
Maturity Date		Jul. 21, 2025
Non-recourse debt		$ 3,227			0
Acosta (a)
Outsanding Debt
Interest Rate		4.40%
Rate Type		Fixed
Maturity Date		Aug. 6, 2025
Non-recourse debt		$ 10,650			0
USF Holland
Outsanding Debt
Interest Rate		4.50%
Rate Type		Fixed
Maturity Date		Sep. 6, 2025
Non-recourse debt		$ 7,750			0
Midcontinent Independent System Operator, Inc.
Outsanding Debt
Interest Rate		4.00%
Rate Type		Fixed
Maturity Date		Mar. 6, 2026
Non-recourse debt		$ 9,750			0
North American Lighting Inc.
Outsanding Debt
Interest Rate		4.80%
Rate Type		Fixed
Maturity Date		May 6, 2026
Non-recourse debt		$ 7,291			7,325
Intuit Inc. (a) (c)
Outsanding Debt
Interest Rate		4.00%
Rate Type		Fixed
Maturity Date		Jul. 6, 2026
Non-recourse debt		$ 21,900			0
Air Enterprises
Outsanding Debt
Interest Rate		5.30%
Rate Type		Fixed
Maturity Date		Apr. 1, 2039
Non-recourse debt		$ 3,206			3,257
Crowne Group Inc. (j)
Outsanding Debt
Non-recourse debt		$ 0			15,967
Apply Sorco AS (c)
Outsanding Debt
Interest Rate		4.40%
Rate Type		Fixed
Maturity Date		Oct. 31, 2021
Bonds payable		$ 42,109			48,151
COOP (a) (c) (k)
Outsanding Debt
Interest Rate	4.20%	4.20%
Rate Type		Fixed
Maturity Date	May 28, 2025	May 28, 2025
Bonds payable	$ 64,200	$ 58,811			0
Siemens AS (c) (l)
Outsanding Debt
Interest Rate		3.50%
Rate Type		Variable
Maturity Date		Dec. 15, 2025
Bonds payable		$ 38,327			$ 43,099

Debt (Details 2)

Debt (Details 2) $ in Thousands	Sep. 30, 2015USD ($)
Long-term Debt, Fiscal Year Maturity
2015 (remaining)	$ 695
2,016	3,208
2,017	15,756
2,018	20,368
2,019	4,241
Thereafter through 2039	898,462
Long term debt gross	942,730
Unamortized premium	1,275
Total	$ 944,005

Loss Per Share and Equity (Narr

Loss Per Share and Equity (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Stock-based Compensation
Shareholder servicing fee incurred	$ 671	$ 230	$ 1,836	$ 459
Distributions Declared
Distributions payable	$ 19,924		$ 19,924		$ 17,629
Dividend payable, date			Oct. 15, 2015
Class A
Distributions Declared
Distributions declared per share (in dollars per share)	$ 0.1563	$ 0.1562	$ 0.4687	$ 0.4686
Class C
Distributions Declared
Distributions declared per share (in dollars per share)	$ 0.1340	$ 0.1329	$ 0.3998	$ 0.3987

Loss Per Share and Equity (Deta

Loss Per Share and Equity (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic
Net Loss Attributable to CPA®:18 – Global	$ (9,775)	$ (10,601)	$ (41,896)	$ (29,629)
Class A common stock
Basic
Weighted-Average Shares Outstanding	102,293,880	99,007,256	101,471,695	71,680,784
Net Loss Attributable to CPA®:18 – Global	$ (7,078)	$ (9,426)	$ (31,659)	$ (26,695)
Loss Per Share (in dollars per share)	$ (0.07)	$ (0.10)	$ (0.31)	$ (0.37)
Class C common stock
Basic
Weighted-Average Shares Outstanding	29,279,706	9,925,481	26,925,898	6,646,337
Net Loss Attributable to CPA®:18 – Global	$ (2,697)	$ (1,175)	$ (10,237)	$ (2,934)
Loss Per Share (in dollars per share)	$ (0.09)	$ (0.12)	$ (0.38)	$ (0.44)

Loss Per Share and Equity (De70

Loss Per Share and Equity (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reconciliation Of Accumulated Comprehensive Income
Beginning balance	$ (35,961)	$ (2,427)	$ (20,941)	$ (94)
Other comprehensive income (loss) before reclassifications	(6,980)	(9,767)	(26,218)	(12,887)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Other Comprehensive Loss	(5,887)	(9,555)	(25,087)	(12,387)
Net current-period Other comprehensive (income) loss attributable to noncontrolling interests	1,300	3,252	5,480	3,751
Ending balance	(40,548)	(8,730)	(40,548)	(8,730)
Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	1,401	212	2,001	500
Other income and (expense)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	(308)		(870)
Gains and Losses on Derivative Instruments
Reconciliation Of Accumulated Comprehensive Income
Beginning balance	3,430	(1,351)	1,152	(219)
Other comprehensive income (loss) before reclassifications	(256)	1,676	1,984	256
Amounts reclassified from accumulated other comprehensive income (loss) to:
Other Comprehensive Loss	837	1,888	3,115	756
Net current-period Other comprehensive (income) loss attributable to noncontrolling interests	0	0	0	0
Ending balance	4,267	537	4,267	537
Gains and Losses on Derivative Instruments | Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	1,401	212	2,001	500
Gains and Losses on Derivative Instruments | Other income and (expense)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	308		(870)
Foreign Currency Translation Adjustments
Reconciliation Of Accumulated Comprehensive Income
Beginning balance	(39,391)	(1,076)	(22,093)	125
Other comprehensive income (loss) before reclassifications	(6,724)	(11,443)	(28,202)	(13,143)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Other Comprehensive Loss	(6,724)	(11,443)	(28,202)	(13,143)
Net current-period Other comprehensive (income) loss attributable to noncontrolling interests	(1,300)	(3,252)	5,480	3,751
Ending balance	(44,815)	(9,267)	(44,815)	(9,267)
Foreign Currency Translation Adjustments | Interest expense
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	0	$ 0	0	$ 0
Foreign Currency Translation Adjustments | Other income and (expense)
Amounts reclassified from accumulated other comprehensive income (loss) to:
Amount reclassified from accumulated other comprehensive loss to income	$ 0		$ 0

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Thousands	2 Months Ended	9 Months Ended
	Nov. 16, 2015USD ($)property	Sep. 30, 2015USD ($)property	Dec. 31, 2014USD ($)
Subsequent Events
Number of properties | property		54
Non-recourse debt		$ 804,758	$ 430,462
Self Storage
Subsequent Events
Investment purchase price		175,400
Non-recourse debt		14,500	$ 14,500
Build To Suit Project
Subsequent Events
Investment purchase price		$ 96,900
Subsequent Events
Subsequent Events
Number of properties | property	12
Investment purchase price	$ 112,600
Non-recourse debt	$ 75,500
Subsequent Events | Self Storage
Subsequent Events
Number of properties | property	10
Subsequent Events | Office Building
Subsequent Events
Number of properties | property	1
Subsequent Events | Build To Suit Project
Subsequent Events
Number of properties | property	1