8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2009

W. P. CAREY & CO. LLC

(Exact name of registrant as specified in its charter)

Delaware	001-13779	13-3912578
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

50 Rockefeller Plaza, New York, NY	10020
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (212) 492-1100

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 Regulation FD Disclosure.

On August 6, 2009, the registrant made available supplemental information, the “Supplemental Operating and Financial Data,” concerning its operations and portfolio as of June 30, 2009. A copy of this supplemental information is attached as Exhibit 99.1.

The information furnished pursuant to this “Item 7.01 Regulation FD Disclosure,” including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, regardless of any general incorporation language in such filing.

ITEM 9.01 Financial Statements and Exhibits.

Exhibit 99.1      Supplemental Operating and Financial Data of the registrant as of June 30, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	W. P. Carey & Co. LLC
Date: August 6, 2009	By:	/s/ Mark J. DeCesaris
		Mark J. DeCesaris
		Managing Director and Acting Chief Financial Officer

EX-99.1

EXHIBIT 99.1

W. P. Carey & Co. LLC

Supplemental Operating and Financial Data

As of June 30, 2009

Important Disclosures About this Supplemental Package

As used in this supplemental package, the terms “the Company,” “we,” “us” and “our” include W. P. Carey & Co. LLC, its consolidated subsidiaries and predecessors, unless otherwise indicated.

Important Note Regarding Non-GAAP Financial Measures

This supplemental package includes non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”), adjusted cash flow from operations, revenue diversification analysis and revenue stability analysis. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures are provided in this supplemental package.

Forward-Looking Statements

This supplemental package contains forward-looking statements within the meaning of the Federal securities laws. It is important to note that our actual results could be materially different from those projected in such forward-looking statements. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties and other factors that may materially affect our future results, performance, achievements or transactions. Information on factors which could impact actual results and forward-looking statements contained herein is included in our filings with the SEC, including but not limited to our Form 10-K for the year ended December 31, 2008. We do not undertake to revise or update any forward-looking statements.

2

W. P. CAREY & CO. LLC
Supplemental Operating and Financial Data
As of June 30, 2009

Contents
Company Overview	4
Financial Highlights	5
Reconciliation of Net Income to EBITDA	6
Reconciliation of Net Income to Funds From Operations (FFO)	7
Adjusted Cash Flow from Operating Activities	8
Revenue Diversification Analysis	9
Revenue Stability Analysis	10
Portfolio Debt Overview	11
Detailed Debt Summary	12
2009 Investment and Disposition Activity	13
Portfolio Analysis — Diversification by Rent and Historical Occupancy	14
Portfolio Analysis — Diversification by Property Type	15
Portfolio Analysis — Diversification by Tenant Industry	16
Portfolio Analysis — Diversification by Geography	17
Portfolio Analysis — Lease Maturities	18
Consolidated Balance Sheets	19
Consolidated Statements of Income	20
Consolidated Statements of Cash Flows	21
Detailed Property Summary	22

3

W. P. CAREY & CO. LLC
Company Overview

June 30, 2009

Key Company Contacts		Executive Offices
Wm. Polk Carey	Chairman of the Board and Director	50 Rockefeller Plaza
Gordon F. Dugan	President, Chief Executive Officer and Director	New York, NY 10020
Thomas E. Zacharias	Managing Director, Chief Operating Officer	Tel: 1-800-WPCAREY or (212) 492-1100
Mark J. DeCesaris	Managing Director, Acting Chief Financial Officer	Fax: (212) 492-8922
Susan C. Hyde	Managing Director, Director of Investor Relations	Web Site Address: www.wpcarey.com
Banks
Bank of America, N.A.	Administrative and Documentation Agent
The Bank of New York	Syndication Agent
JPMorgan Chase Bank, N.A.	Syndication Agent
PNC Bank, N.A.	Syndication Agent
Analyst Coverage
David West	Davenport & Company, LLC
Andrew T. DiZio	Janney Montgomery Scott LLC

	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Stock Data (NYSE: WPC)	2009			2009			2008			2008			2008
High Price	$	29.89		$	24.00		$	27.05		$	31.08		$	33.97
Low Price	$	19.75		$	16.15		$	16.50		$	23.44		$	27.67
Closing Price	$	24.98		$	22.19		$	23.43		$	26.10		$	28.71
Distributions declared per share — annualized	$	1.99		$	1.98		$	1.98		$	1.97		$	1.95
Distribution yield (annualized distribution / closing stock price)		7.97	%		8.94	%		8.43	%		7.54	%		6.79	%
Shares outstanding at quarter end		39,158,020			39,117,568			39,589,594			40,024,035			39,656,675
Market value of outstanding shares at quarter end (in thousands)	$	978,167		$	868,019		$	927,584		$	1,044,627		$	1,138,543

4

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

These financial highlights include non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”) and adjusted cash flow from operating activities. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures is provided on the following pages.

	Three months ended										Six months ended June 30,
	June 30, 2009		March 31, 2009		December 31, 2008		September 30, 2008		June 30, 2008		2009			2008
EBITDA
Investment management	$	10,430	$	13,694	$	13,079	$	18,207	$	15,774	$	23,498		$	30,519
Real estate ownership		19,365		20,266		23,238		18,229		22,307		40,257			42,941
Total	$	29,795	$	33,960	$	36,317	$	36,436	$	38,081	$	63,755		$	73,460
FFO
Investment management	$	11,627	$	13,704	$	11,415	$	17,579	$	14,664	$	25,960		$	20,125
Real estate ownership		18,486		15,153		22,412		15,963		20,887		33,010			36,956
Total	$	30,113	$	28,857	$	33,827	$	33,542	$	35,551	$	58,970		$	57,081
EBITDA Per Share (Diluted)
Investment management	$	0.26	$	0.34	$	0.32	$	0.45	$	0.39	$	0.59		$	0.76
Real estate ownership		0.48		0.51		0.58		0.45		0.56		1.01			1.06
Total	$	0.74	$	0.85	$	0.90	$	0.90	$	0.95	$	1.60		$	1.82
FFO Per Share (Diluted)
Investment management	$	0.29	$	0.34	$	0.28	$	0.43	$	0.36	$	0.65		$	0.50
Real estate ownership		0.46		0.38		0.56		0.40		0.52		0.83			0.92
Total	$	0.75	$	0.72	$	0.84	$	0.83	$	0.88	$	1.48		$	1.42
Adjusted Cash Flow From Operating Activities
Adjusted cash flow											$	50,019		$	53,789
Adjusted cash flow per share (diluted)											$	1.26		$	1.34
Distributions declared per share											$	0.994		$	0.969
Payout ratio (distributions per share/adjusted cash flow per share)												79	%		72	%

5

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

	Three months ended													Six months ended June 30,
	June 30, 2009		March 31, 2009		December 31, 2008			September 30, 2008			June 30, 2008			2009		2008
Investment Management
Net income from investment management attributable to W. P. Carey members	$	5,954	$	7,331	$	9,603		$	11,201		$	7,123		$	12,659	$	14,054
Adjustments:
Provision for income taxes		3,440		5,765		2,246			5,846			7,556			9,205		14,340
Depreciation and amortization		1,036		598		1,230			1,160			1,095			1,634		2,125
EBITDA — investment management	$	10,430	$	13,694	$	13,079		$	18,207		$	15,774		$	23,498	$	30,519
EBITDA per share (diluted)	$	0.26	$	0.34	$	0.32		$	0.45		$	0.39		$	0.59	$	0.76
Real Estate Ownership
Net income from real estate ownership attributable to W. P. Carey members	$	9,023	$	10,378	$	12,297		$	7,997		$	12,725		$	20,027	$	22,895
Adjustments:
Interest expense		3,923		4,329		4,710			5,004			4,532			8,252		9,575
Provision for (benefit from) income taxes		280		435		870			(7	)		(134	)		715		226
Depreciation and amortization		6,084		5,085		5,669			5,235			5,083			11,115		10,042
Reconciling items attributable to discontinued operations		55		39		(308	)		—			101			148		203
EBITDA — real estate ownership	$	19,365	$	20,266	$	23,238		$	18,229		$	22,307		$	40,257	$	42,941
EBITDA per share (diluted)	$	0.48	$	0.51	$	0.58		$	0.45		$	0.56		$	1.01	$	1.06
Total Company
EBITDA	$	29,795	$	33,960	$	36,317		$	36,436		$	38,081		$	63,755	$	73,460
EBITDA per share (diluted)	$	0.74	$	0.85	$	0.90		$	0.90		$	0.95		$	1.60	$	1.82
Diluted weighted average shares outstanding		40,065,495		39,927,886		40,466,930			40,299,073			40,256,658			39,780,708		40,271,185

Non-GAAP Financial Disclosure

EBITDA as disclosed represents earnings before interest, taxes, depreciation and amortization. We believe that EBITDA is a useful supplemental measure for assessing the performance of our business segments, although it does not represent net income that is computed in accordance with GAAP. Accordingly, EBITDA should not be considered an alternative for net income as an indicator of our financial performance. EBITDA may not be comparable to similarly titled measures of other companies.

6

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

	Three months ended															Six months ended June 30,
	June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			2009			2008
Investment Management
Net income from investment management attributable to W. P. Carey members	$	5,954		$	7,331		$	9,603		$	11,201		$	7,123		$	12,659		$	14,054
Amortization, deferred taxes and other non-cash charges		2,607			1,312			(1,283	)		2,290			4,041			3,919			1,487
FFO from equity investments		3,066			5,061			3,095			4,088			3,500			9,382			4,584
FFO — investment management	$	11,627		$	13,704		$	11,415		$	17,579		$	14,664		$	25,960		$	20,125
FFO per share (diluted)	$	0.29		$	0.34		$	0.28		$	0.43		$	0.36		$	0.65		$	0.50
Real Estate Ownership
Net income from real estate ownership attributable to W. P. Carey members	$	9,023		$	10,378		$	12,297		$	7,997		$	12,725		$	20,027		$	22,895
Gain on sale of investment in direct financing lease		—			—			—			(1,103	)		—			—			—
Loss on sale of real estate, net		(478	)		135			—			—			—			(343	)		—
Gain on extinguishment of debt, net (a)		—			(2,796	)		—			—			—			(2,796	)		—
Depreciation, amortization and other non-cash charges		5,174			5,174			7,594			6,764			5,389			10,348			8,950
Straight-line and other rent adjustments		232			180			172			(613	)		659			412			1,328
Impairment charge		2,280			—			473			538			—			2,280			—
FFO from equity investments		2,411			2,257			2,039			2,551			2,287			3,413			4,128
Noncontrolling interests’ share of FFO		(156	)		(175	)		(163	)		(171	)		(173	)		(331	)		(345	)
FFO — real estate ownership	$	18,486		$	15,153		$	22,412		$	15,963		$	20,887		$	33,010		$	36,956
FFO per share (diluted)	$	0.46		$	0.38		$	0.56		$	0.40		$	0.52		$	0.83		$	0.92
Total Company
FFO	$	30,113		$	28,857		$	33,827		$	33,542		$	35,551		$	58,970		$	57,081
FFO per share (diluted)	$	0.75		$	0.72		$	0.84		$	0.83		$	0.88		$	1.48		$	1.42
Diluted weighted average shares outstanding		40,065,495			39,927,886			40,466,930			40,299,073			40,256,658			39,780,708			40,271,185

Non-GAAP Financial Disclosure

Funds from operations (FFO) is a non-GAAP financial measure that is commonly used in evaluating real estate companies. Although the National Association of Real Estate Investment Trusts (NAREIT) has published a definition of FFO, real estate companies often modify this definition as they seek to provide financial measures that meaningfully reflect their operations. FFO should not be considered as an alternative to net income as an indication of a company’s operating performance or to cash flow from operating activities as a measure of its liquidity. It should be used in conjunction with GAAP net income. FFO disclosed by other REITs may not be comparable to our FFO calculation.

NAREIT’s definition of FFO adjusts GAAP net income to exclude depreciation and gains/losses from the sales of properties and adjusts for FFO applicable to unconsolidated partnerships and joint ventures. We calculate FFO in accordance with this definition and then include other adjustments to GAAP net income to adjust for certain non-cash charges such as amortization of intangibles, deferred income tax benefits and expenses, straight-line rents, stock compensation, impairment charges on real estate and unrealized foreign currency exchange gains and losses. We exclude these items from GAAP net income as they are not the primary drivers in our decision making process. Our assessment of our operations is focused on long term sustainability and not on such non-cash items which may cause short-term fluctuations in net income but that have no impact on cash flows.

(a) In January 2009, Carey Storage repaid, in full, the $35 million outstanding balance on its secured credit facility for $28 million and recognized a gain of $7 million on the repayment of this debt at a discount, inclusive of profit sharing interest of $4.2 million.

7

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

	Six months ended June 30,
	2009			2008
Cash flow from operating activities — as reported	$	34,683		$	27,219
Adjustments:
Distributions received from equity investments in real estate in excess of equity income (a)		9,040			3,223
Contributions received from noncontrolling interests, net (b)		252			—
Changes in working capital (c)		6,044			14,626
CPA®:16 — Global performance adjustment, net (d)		—			(12,291	)
Settlement payment (e)		—			21,012
Adjusted cash flow from operating activities	$	50,019		$	53,789
Adjusted cash flow per share (diluted)	$	1.26		$	1.34
Distributions declared per share	$	0.994		$	0.969
Payout ratio (distributions per share/adjusted cash flow per share)		79	%		72	%
Diluted weighted average shares outstanding		39,780,708			40,271,185

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities is a non-GAAP financial measure that represents cash flow from operating activities on a GAAP basis adjusted for certain timing differences and deferrals as described below. We believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations and is used in evaluating distributions to shareholders. Adjusted cash flow from operating activities should not be considered as an alternative for cash flow from operating activities computed on a GAAP basis as a measure of our liquidity. Adjusted cash flow from operating activities may not be comparable to similarly titled measures of other companies.

(a)	We take a substantial portion of our asset management revenue in shares of the CPA® REIT funds. To the extent we receive distributions in excess of the equity income that we recognize, we include such amounts in our evaluation of cash flow from core operations.
(b)	Represents noncontrolling interests’ share of contributions/distributions made by ventures that we consolidate in our financial statements. This adjustment in the calculation of adjusted cash flow from operating activities was introduced during the fourth quarter of 2008 because we believe that it results in a more accurate presentation of this supplemental measure.
(c)	Timing differences arising from the payment of certain liabilities in a period other than that in which the expense is recognized in determining net income may distort the actual cash flow that our core operations generate. We adjust our GAAP cash flow from operating activities to record such amounts in the period in which the liability was actually incurred. We believe this is a fairer measure of determining our cash flow from core operations.
(d)	Amounts deferred in lieu of CPA®:16 — Global achieving its performance criterion, net of a 45% tax provision. In determining cash flow generated from our core operations, we believe it is more appropriate to normalize cash flow for the impact of CPA®:16 — Global achieving its performance criterion, rather than recognizing the entire deferred amount in the quarter in which the performance criterion was met (second quarter of 2007), as this revenue was actually earned over a three year period.
(e)	In March 2008, we entered into a settlement with the SEC with respect to all matters relating to their investigation. As a result, we paid $30 million in the first quarter of 2008 and recognized an offsetting $9 million tax benefit in the same period.

8

W. P. CAREY & CO. LLC
Revenue Diversification Analysis
(in thousands)

	Three months ended															Six months ended June 30,
	June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			2009			2008
Revenue from Investment Management
Asset management revenue	$	19,227		$	19,108		$	20,344		$	20,205		$	20,039		$	38,335		$	40,165
Structuring revenue (a)		365			10,409			2,833			10,818			3,169			10,774			6,585
Other interest income		377			356			594			586			548			733			1,081
Total investment management revenue	$	19,969		$	29,873		$	23,771		$	31,609		$	23,756		$	49,842		$	47,831
Percentage of total adjusted revenue		46	%		58	%		45	%		58	%		47	%		53	%		49	%
Revenue from Real Estate Ownership
Lease revenue — continuing and discontinued operations (b)	$	18,551		$	18,513		$	18,658		$	18,959		$	23,247		$	37,069		$	42,448
Other real estate income (c)		4,649			3,260			10,422			3,834			3,305			7,904			6,427
Other interest income		24			51			97			166			131			75			359
Total real estate revenue	$	23,224		$	21,824		$	29,177		$	22,959		$	26,683		$	45,048		$	49,234
Percentage of total adjusted revenue		54	%		42	%		55	%		42	%		53	%		47	%		51	%
Reconciliation of Total Revenue
Total revenue — as reported	$	55,426		$	62,135		$	61,362		$	66,636		$	58,377		$	116,642		$	115,622
Less: Reimbursed costs from affiliates (d)		(12,712	)		(10,967	)		(9,414	)		(12,820	)		(12,568	)		(22,801	)		(24,074	)
Add: Other interest income		401			407			691			752			679			808			1,440
Add: Revenue from discontinued operations		78			122			309			—			3,951			241			4,077
Total Adjusted Revenue	$	43,193		$	51,697		$	52,948		$	54,568		$	50,439		$	94,890		$	97,065

(a)	We earn structuring revenue on acquisitions structured on behalf of the CPA® REITs and expect significant period-to-period variation in such revenue based on changes in investment volume. Investments structured on behalf of the CPA REITs totaled approximately $2 million, $231 million, $53 million, $259 million and $68 million for the three months ended June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.
(b)	Included in Lease revenue — continuing and discontinued operations for the three and six months ended June 30, 2008 is $3.8 million received from a former tenant in connection with the resolution of a lawsuit.
(c)	Other real estate income generally consists of revenue from Carey Storage, a subsidiary that invests in domestic self-storage properties, and Livho, a subsidiary that operates a Radisson hotel franchise. Other real estate income also includes lease termination payments and other non-rent related revenues from real estate ownership, and as a result, we expect Other real estate income to fluctuate period-to-period. For the three months ended December 31, 2008, Other real estate income included a $6.5 million gain recognized on a lease termination in October 2008.
(d)	Total adjusted revenue excludes reimbursements of costs received from affiliated CPA® REITs as they have no impact on net income. Also excluded is wholesaling revenue earned in connection with CPA®: 17 - Global’s initial public offering, which is primarily offset by underwriting costs incurred in connection with the offering.

9

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

	Three months ended																									Six months ended June 30,
	June 30, 2009					March 31, 2009					December 31, 2008					September 30, 2008					June 30, 2008					2009					2008
	Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%
Revenue Type
Rents (a)	$	18,575				$	18,564				$	18,755				$	19,125				$	23,378				$	37,144				$	42,807
Management revenue (b)		19,604					19,464					20,938					20,791					20,587					39,068					41,246
Rents and Management Revenue		38,179		88	%		38,028		74	%		39,693		75	%		39,916		73	%		43,965		87	%		76,212		80	%		84,053		87	%
Structuring revenue (c)		365					10,409					2,833					10,818					3,169					10,774					6,585
Other real estate income		4,649					3,260					10,422					3,834					3,305					7,904					6,427
Structuring Revenue & Other Income		5,014		12	%		13,669		26	%		13,255		25	%		14,652		27	%		6,474		13	%		18,678		20	%		13,012		13	%
Total Adjusted Revenue	$	43,193		100	%	$	51,697		100	%	$	52,948		100	%	$	54,568		100	%	$	50,439		100	%	$	94,890		100	%	$	97,065		100	%

(a)	Rents = lease revenue (continuing operations) + revenue from discontinued operations + other interest income from real estate ownership.
(b)	Management revenue includes asset management revenue and interest income earned from CPA® REITs under management.
(c)	Structuring revenue includes structuring fees and deferred structuring fees.

10

W. P. CAREY & CO. LLC
Portfolio Debt Overview (Pro rata basis)
As of June 30, 2009
(in thousands)

Portfolio Debt Maturity

Year of Maturity	Outstanding Balance
2009	$	22,025
2010		9,741
2011		176,348
2012		31,504
2013		1,882
2014		53,964
2015		47,870
2016		35,678
2017		51,384
2018		9,154
2019		23,954
2020		—
2021		—
2022		—
2023		5,482
Total	$	468,986

Fixed and Variable Rate Debt Analysis

Non-Recourse Debt	Outstanding Balance
Fixed	$	244,218
Fixed — Swap Agreement		9,154
Fixed — Future Rate Reset		71,242
Variable		18,872
		343,486
Recourse Debt
Variable — Line of Credit		125,500
Total Debt	$	468,986

11

W. P. CAREY & CO. LLC
Detailed Debt Summary (Pro rata basis)
As of June 30, 2009
(in thousands)

Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Outstanding Balance
US Airways Group, Inc. (75%) (a)	Fixed		7.23	%	Aug-2009	$	14,846
The Retail Distribution Group, Inc. (40%)	Fixed		8.51	%	Sep-2009		2,179
Billipp Portfolio (b)	Variable		1.57	%	Dec-2009		5,000
Bell South Corporation	Fixed		8.11	%	Jan-2010		2,502
Hibbett Sports	Fixed		7.50	%	Apr-2010		4,524
Daimler Trucks North America LLC	Fixed		7.96	%	Jun-2010		2,715
Federal Express Corporation (40%)	Fixed		7.50	%	Jan-2011		16,127
AutoZone, Inc. — Series A	Fixed		6.85	%	Jan-2011		781
Childtime Childcare, Inc. (34%)	Fixed		7.50	%	Jan-2011		2,206
Information Resources, Inc. (33%)	Fixed		7.60	%	Jan-2011		7,369
Pioneer Credit Recovery, Inc.	Fixed		7.34	%	Jan-2011		5,429
AutoZone, Inc. — Series B	Fixed		6.85	%	Feb-2011		1,239
Career Education Corporation	Fixed		7.58	%	Jun-2011		6,763
24 Hour Fitness USA, Inc.	Fixed		7.50	%	Aug-2011		2,890
Sprint Spectrum, LP	Fixed		7.64	%	Aug-2011		8,044
Qwest Communications, Inc.	Fixed		7.50	%	Jun-2012		1,403
AutoZone, Inc. — Series C	Fixed		6.85	%	Aug-2012		672
BE Aerospace, Inc.	Fixed		6.11	%	Nov-2012		8,393
Faurecia Exhaust Systems, Inc.	Fixed		5.16	%	Nov-2012		2,476
Anthony’s Manufacturing Company	Fixed		5.11	%	Nov-2012		8,588
Alstom Power, Inc. and Werner Co.	Fixed		5.18	%	Dec-2012		9,972
AutoZone, Inc. — Series D	Fixed		6.85	%	Aug-2013		1,882
Carrefour France, S.A. (46%) (c)	Fixed — Future Rate Reset		5.55	%	Dec-2014		53,964
Lowe’s Home Improvement Warehouse	Fixed		4.87	%	Sep-2015		9,138
Bouygues Telecom, S.A. (Tours) (95%) (c)	Fixed — Future Rate Reset		3.86	%	Oct-2015		7,324
The American Bottling Company	Fixed		5.13	%	Nov-2015		31,408
CheckFree Holdings, Inc. (50%)	Fixed		6.18	%	Jun-2016		14,835
Bouygues Telecom, S.A. (Illkirch-Graffenstaden) (75%) (c) (d)	Variable		5.01	%	Oct-2016		13,872
Consolidated Systems, Inc. (60%)	Fixed		5.87	%	Nov-2016		6,971
Hellweg Die Profi-Baumärkte GmbH & Co KG (5%) (c)	Fixed		5.49	%	Jan-2017		14,956
SICOR, Inc. (50%)	Fixed		6.20	%	Jul-2017		17,675
Medica France, S.A. (46%) (c)	Fixed		5.63	%	Oct-2017		18,753
OBI Wroclaw (c)	Fixed — Swap		5.48	%	Mar-2018	$	9,154
Self-Storage Portfolio (40%)	Fixed — Future Rate Reset		7.00	%	Feb-2019/Mar-2019		9,954
Orbital Sciences Corporation	Fixed		7.75	%	Jun-2019		14,000
Hologic, Inc. (36%)	Fixed		6.40	%	May-2023		5,482
Total Non-Recourse Debt			6.04	% (d)		$	343,486
Unsecured Line of Credit	Variable		1.06	%	Jun-2011	$	125,500
Total Debt			4.71	% (d)		$	468,986

(a)	Loan was paid off in August 2009 and refinanced for $15 million (pro rata share) with a floating rate capped at 7.00% and maturing in April 2014.
(b)	Loan was extended for one year in December 2008. There is an additional one-year extension option on this loan.
(c)	Debt balance calculated using an exchange rate of 1.4048 USD/EUR as of June 30, 2009.
(d)	Reflects weighted average interest rate for the applicable debt.

12

W. P. CAREY & CO. LLC
2009 Investment and Disposition Activity
As of June 30, 2009
(in thousands, except square footage)

Investment Activity

Investment Management Activity — Real Estate

Portfolio	Tenant/Lease Guarantor	Property Location(s)	Purchase Price		Closing Date	Property Type	Gross Square Footage
CPA®:17 — Global	Kronos Products, Inc. (a)	Glendale Heights, IL	$	32,461	Jan-09	Industrial		207,778
CPA®:17 — Global (55%), CPA®:16 — Global (27.25%)	The New York Times Company	New York, NY		193,783	Mar-09	Office		616,875
CPA®:16 — Global	Holopack International Corp. (b)	Columbia, SC		5,081	Mar-09	Industrial	BTS
CPA®:14	Silgan Containers Manufacturing Corporation	Fort Dodge, IA		2,513	Apr-09	Industrial		40,500
Total Investment Management Acquisitions				233,838				865,153
Principal Activity
WPC LLC (17.75%)	The New York Times Company	New York, NY		39,937	Mar-09	Office		133,125
Total Acquisitions			$	273,775				998,278

Disposition Activity

Investment Management Activity

					Disposition
Portfolio(s)	Tenant/Lease Guarantor	Property Location(s)	Gross Sale Price		Date	Property Type	Gross Square Footage
CPA®:14	Moonlight Molds	Gardena, CA	$	3,850	Feb-09	Industrial		87,693
CPA®:15	American Pad & Paper LLC	Holyoke, MA		4,250	Mar-09	Industrial		267,640
CPA®:14	Career Education Corporation	Allentown, PA		27,500	May-09	Office		92,782
Total Investment Management Dispositions				35,600				448,115
Principal Activity
WPC LLC	Self-Storage Portfolio Interest (c)	Various locations throughout the U.S.		21,900	Jan-09	Self-Storage		554,063
WPC LLC	PPD Development, L.P.	Austin, TX		2,050	Mar-09	Industrial		26,594
Total Principal Dispositions				23,950				580,657
Total Dispositions			$	59,550				1,028,772

(a)	Includes CPA®:17 — Global’s commitment to renovate the facility at a total cost of approximately $17.5 million, of which $1.5 million was funded as of June 30, 2009.
(b)	Acquisition includes a build-to-suit transaction; gross square footage cannot be determined at this time.
(c)	In January 2009, Carey Storage, a subsidiary of W. P. Carey & Co. LLC, completed a transaction with a third party whereby Carey Storage received cash proceeds of $21.9 million plus a commitment to invest up to a further $8.1 million of equity to fund the purchase of self-storage assets in the future, in exchange for a 60% interest in its self-storage portfolio of 13 properties. Square footage reflects net rentable square feet for the pro rata interest of the portfolio sold.

13

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Rent and Historical Occupancy (Pro rata basis)
As of June 30, 2009
(in thousands)

Portfolio Diversification by Rent (Pro rata basis)

			Percentage of			Percentage of Total
Top Ten Tenants/Lease Guarantors	Annualized Rent		Total Annualized Rent			Annualized Adjusted Revenue (a)
Carrefour France, SAS	$	10,160		10	%		5	%
Bouygues Telecom, S.A. (France)		5,238		5	%		3	%
The American Bottling Company		4,842		5	%		3	%
Daimler Trucks North America LLC		4,634		4	%		2	%
The New York Times Company		4,293		4	%		2	%
Medica — France S.A		3,209		3	%		2	%
US Airways Group, Inc.		3,171		3	%		2	%
Federal Express Corporation		3,077		3	%		2	%
Orbital Sciences Corporation		2,771		3	%		1	%
Titan Corporation		2,707		3	%		1	%
Total	$	44,102

W. P. Carey & Co. LLC Historical Occupancy

(a)	Total Adjusted Revenue = Total revenue as reported, less reimbursed costs from affiliates, plus other interest income, plus revenue from discontinued operations.
(b)	Percentage of the portfolio’s total pro rata square footage that was subject to lease.

14

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Property Type (Pro rata basis)
As of June 30, 2009
(in thousands)

Property Type	Square Footage		Percent
Industrial		8,093		48	%
Warehouse/Distribution		5,106		30	%
Office		2,129		12	%
Retail		1,125		7	%
Other Properties(a)		363		2	%
Hospitality		158		1	%
Total(b)		16,974		100	%

Portfolio Diversification by Property Type
(based on square footage)

Property Type	Annualized Rent		Percent
Industrial	$	34,748		34	%
Office		33,146		32	%
Warehouse/Distribution		21,189		21	%
Other Properties(a)		6,631		6	%
Retail		5,863		6	%
Hospitality		1,500		1	%
Total(b)	$	103,077		100	%

Portfolio Diversification by Property Type
(based on annualized rent)

(a)	Reflects properties used for health care; education, child care and social services; leisure, amusement and recreation; unoccupied land.
(b)	Excludes the 13 domestic self-storage properties held by an entity that is 40% owned by our subsidiary, Carey Storage, totaling approximately 0.4 million square feet.

15

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Tenant Industry (Pro rata basis)
As of June 30, 2009
(in thousands)

	Annualized		Percentage of
Industry Type (a)	Rent		Annualized Rent
Retail Trade	$	17,043		17	%
Business and Commercial Services		11,243		11	%
Telecommunications		10,996		11	%
Healthcare, Education and Childcare		9,457		9	%
Media: Printing and Publishing		7,050		7	%
Electronics		6,583		6	%
Automobile		5,319		5	%
Beverages, Food, and Tobacco		5,249		5	%
Aerospace and Defense		4,639		5	%
Forest Products and Paper		4,605		4	%
Transportation — Personal		3,355		3	%
Transportation — Cargo		3,102		3	%
Machinery		3,055		3	%
Mining, Metals, and Primary Metal Industries		1,860		2	%
Chemicals, Plastics, Rubber, and Glass		1,813		2	%
Hotels and Gaming		1,510		1	%
Consumer and Durable Goods		1,386		1	%
Federal, State and Local Government		1,170		1	%
Textiles, Leather, and Apparel		1,007		1	%
Other (b)		2,635		3	%
Total (c)	$	103,077		100	%

(a)	Based on the Moody’s Classification System and information provided by the tenant.
(b)	Includes revenue from tenants in the following industries: leisure, amusement, entertainment (1%), construction and building (1%), consumer non-durable goods (0.5%) and grocery (0.5%).
(c)	Excludes the 13 domestic self-storage properties held by an entity that is 40% owned by our subsidiary, Carey Storage, totaling approximately 0.4 million square feet.

16

W. P. CAREY & CO. LLC
Portfolio Analysis — Diversification by Geography (Pro rata basis)
As of June 30, 2009
(in thousands)

Region	Square Footage		Percent
United States
South		4,991		29	%
Midwest		4,557		27	%
East		3,044		18	%
West		2,338		14	%
		14,930		88	%
International
Europe		2,044		12	%
Total (b)		16,974		100	%

Portfolio Diversification by Geography
(based on square footage)

Region	Annualized Rent		Percent
United States
South	$	27,905		27	%
West		20,966		21	%
Midwest		17,850		17	%
East		14,372		14	%
		81,093		79	%
International
Europe (a)		21,984		21	%
Total (b)	$	103,077		100	%

Portfolio Diversification by Geography
(based on annualized rent)

(a)	Includes revenue from tenants in the following countries: France (18%), Germany (2%) and Poland (1%).
(b)	Excludes the 13 domestic self-storage properties held by an entity that is 40% owned by our subsidiary, Carey Storage, totaling approximately 0.4 million square feet.

17

W. P. CAREY & CO. LLC
Portfolio Analysis — Lease Maturities (Pro rata basis)
As of June 30, 2009
(in thousands)

			Percentage of
Year of Lease	Annualized		Total Annualized
Expiration (a)	Rent		Rent
2009 (b)	$	4,124		4	%
2010		17,550		17	%
2011		19,242		19	%
2012		8,415		8	%
2013		7,765		7	%
2014		10,902		11	%
2015		2,474		2	%
2016		1,720		2	%
2017		4,056		4	%
2018		4,179		4	%
2019		7,249		7	%
2020		5,202		5	%
2021		—		0	%
2022		1,582		2	%
2023		—		0	%
2024		4,293		4	%
2025		1,013		1	%
2026		948		1	%
2027		2,363		2	%
Total (c)	$	103,077		100	%

Weighted Average Years to Maturity: 5.48

(a)	Assumes tenant does not exercise renewal option.
(b)	Month-to-month properties are counted in 2009 revenue stream.
(c)	Excludes the 13 domestic self-storage properties held by an entity that is 40% owned by our subsidiary, Carey Storage, totaling approximately 0.4 million square feet.

18

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

	June 30, 2009			December 31, 2008
				(NOTE)
Assets
Real estate, net	$	488,457		$	499,795
Net investment in direct financing leases		83,323			83,792
Equity investments in real estate and CPA® REITs		309,498			260,620
Assets held for sale		3,092			—
Operating real estate, net		74,566			74,534
Cash and cash equivalents		23,469			16,799
Due from affiliates		31,059			53,423
Intangible assets and goodwill, net		88,525			93,398
Other assets, net		35,056			28,775
Total assets	$	1,137,045		$	1,111,136
Liabilities and Equity
Liabilities:
Non-recourse debt	$	232,565		$	245,874
Line of credit		125,500			81,000
Accounts payable, accrued expenses and other liabilities		46,602			42,323
Income taxes, net		52,817			58,011
Distributions payable		19,454			19,508
Total liabilities		476,938			446,716
Redeemable noncontrolling interests		15,126			18,085
Commitments and contingencies
Equity:
W. P. Carey members’ equity:
Listed shares, no par value, 100,000,000 shares authorized; 39,158,020 and 39,589,594 shares issued and outstanding, respectively		752,884			757,921
Distributions in excess of accumulated earnings		(123,310	)		(116,990	)
Deferred compensation obligation		9,799			—
Accumulated other comprehensive loss		(1,072	)		(828	)
Total W. P. Carey members’ equity		638,301			640,103
Noncontrolling interests		6,680			6,232
Total equity		644,981			646,335
Total liabilities and equity	$	1,137,045		$	1,111,136

Note: The consolidated balance sheet at December 31, 2008 has been derived from the consolidated financial statements at that date as adjusted.

19

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

	Three months ended June 30,						Six months ended June 30,
	2009			2008			2009			2008
Revenues
Asset management revenue	$	19,227		$	20,039		$	38,335		$	40,165
Structuring revenue		365			3,169			10,774			6,585
Wholesaling revenue		1,597			1,488			2,690			2,628
Reimbursed costs from affiliates		11,115			11,080			20,111			21,446
Lease revenues		18,473			19,296			36,828			38,371
Other real estate income		4,649			3,305			7,904			6,427
		55,426			58,377			116,642			115,622
Operating Expenses
General and administrative		(14,310	)		(15,816	)		(33,409	)		(31,229	)
Reimbursable costs		(11,115	)		(11,080	)		(20,111	)		(21,446	)
Depreciation and amortization		(7,120	)		(6,178	)		(12,749	)		(12,167	)
Property expenses		(2,180	)		(1,245	)		(4,026	)		(3,532	)
Impairment charges		(1,700	)		—			(1,700	)		—
Other real estate expenses		(1,707	)		(2,146	)		(3,838	)		(4,215	)
		(38,132	)		(36,465	)		(75,833	)		(72,589	)
Other Income and Expenses
Other interest income		401			679			808			1,440
Income from equity investments in real estate and CPA® REITs		4,875			3,934			6,262			8,645
Other income and expenses		127			1,848			3,281			4,659
Interest expense		(3,923	)		(4,532	)		(8,252	)		(9,575	)
		1,480			1,929			2,099			5,169
Income from continuing operations before income taxes		18,774			23,841			42,908			48,202
Provision for income taxes		(3,720	)		(7,422	)		(9,920	)		(14,566	)
Income from continuing operations		15,054			16,419			32,988			33,636
Discontinued Operations
(Loss) income from operations of discontinued properties		(75	)		3,733			(100	)		3,706
Gain on sale of real estate		478			—			343			—
Impairment charge		(580	)		—			(580	)		—
(Loss) income from discontinued operations		(177	)		3,733			(337	)		3,706
Net Income		14,877			20,152			32,651			37,342
Add: Net loss attributable to noncontrolling interests		203			168			373			340
Less: Net income attributable to redeemable noncontrolling interests		(103	)		(472	)		(338	)		(733	)
Net Income Attributable to W. P. Carey Members	$	14,977		$	19,848		$	32,686		$	36,949
Basic Earnings Per Share
Income from continuing operations attributable to W. P. Carey members	$	0.37		$	0.41		$	0.83		$	0.85
(Loss) income from discontinued operations attributable to W. P. Carey members		—			0.10			(0.01	)		0.09
Net income attributable to W. P. Carey members	$	0.37		$	0.51		$	0.82		$	0.94
Diluted Earnings Per Share
Income from continuing operations attributable to W. P. Carey members	$	0.37		$	0.41		$	0.82		$	0.83
(Loss) income from discontinued operations attributable to W. P. Carey members		—			0.09			(0.01	)		0.09
Net income attributable to W. P. Carey members	$	0.37		$	0.50		$	0.81		$	0.92
Weighted Average Shares Outstanding
Basic		39,350,684			39,204,221			39,067,391			39,039,617
Diluted		40,065,495			40,256,658			39,780,708			40,271,185
Amounts Attributable to W. P. Carey Members
Income from continuing operations, net of tax	$	15,154		$	16,115		$	33,023		$	33,243
(Loss) income from discontinued operations, net of tax		(177	)		3,733			(337	)		3,706
Net income	$	14,977		$	19,848		$	32,686		$	36,949
Distributions Declared Per Share	$	0.498		$	0.487		$	0.994		$	0.969

20

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

	Six months ended June 30,
	2009			2008
Cash Flows — Operating Activities
Net income	$	32,651		$	37,342
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization including intangible assets and deferred financing costs		12,757			13,506
Income from equity investments in real estate and CPA® REITs in excess of distributions received		(3,157	)		(1,924	)
Straight-line rent adjustments		967			1,252
Management income received in shares of affiliates		(15,414	)		(20,053	)
Gain on sale of real estate		(343	)		—
Gain on extinguishment of debt		(6,991	)		—
Allocation of income to profit sharing interest		3,875			—
Impairment charges		2,280			—
Unrealized gain on foreign currency transactions, warrants and securities		(39	)		(1,203	)
Realized gain on foreign currency transactions and other		(126	)		(1,565	)
Stock-based compensation expense		5,260			3,922
Decrease in deferred acquisition revenue received		22,877			46,695
Increase in structuring revenue receivable		(5,416	)		(3,538	)
Decrease in income taxes, net		(8,454	)		(3,963	)
Decrease in settlement provision		—			(29,979	)
Net changes in other operating assets and liabilities		(6,044	)		(13,273	)
Net cash provided by operating activities		34,683			27,219
Cash Flows — Investing Activities
Distributions received from equity investments in real estate and CPA® REITs in excess of equity income		7,606			3,425
Capital contributions to equity investments		—			(837	)
Purchases of real estate and equity investments in real estate		(39,677	)		(184	)
Capital expenditures		(6,929	)		(6,455	)
VAT refunded on purchase of real estate		—			3,189
Proceeds from sale of real estate		3,835			—
Proceeds from transfer of profit sharing interest		21,928			—
Funds released from escrow in connection with the sale of property		—			636
Payment of deferred acquisition revenue to affiliate		—			(120	)
Net cash used in investing activities		(13,237	)		(346	)
Cash Flows — Financing Activities
Distributions paid		(39,060	)		(48,668	)
Contributions from noncontrolling interests		1,583			1,320
Distributions to noncontrolling interests		(3,474	)		(1,329	)
Distributions to profit sharing interest		(3,434	)		—
Scheduled payments of mortgage principal		(5,241	)		(4,698	)
Proceeds from mortgages and credit facilities		127,500			101,937
Prepayments of mortgage principal and credit facilities		(83,936	)		(73,729	)
Proceeds from loan from affiliates		1,624			—
Repayment of loan from affiliates		—			(7,569	)
Payment of financing costs, net of deposits refunded		(806	)		(370	)
Proceeds from issuance of shares		874			12,743
Windfall tax benefits associated with stock-based compensation awards		242			608
Repurchase and retirement of shares		(10,686	)		(5,134	)
Net cash used in financing activities		(14,814	)		(24,889	)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash		38			298
Net increase in cash and cash equivalents		6,670			2,282
Cash and cash equivalents, beginning of period		16,799			12,137
Cash and cash equivalents, end of period	$	23,469		$	14,419

21

W. P. CAREY & CO. LLC
Detailed Property Summary
June 30, 2009

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage(e)

Annualized Rent(e)

Percentage of Total Rent(e)

Increase Factor

Lease Expiration

Maximum Term

Carrefour France, SAS (a)

46%

Crepy en Valois, France

Warehouse/Distribution

Retail Trade

Europe

101,248

$

876,320

0.85

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Crepy en Valois, France

Warehouse/Distribution

Retail Trade

Europe

152,365

1,318,741

1.28

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Lens, France

Warehouse/Distribution

Retail Trade

Europe

126,925

1,067,897

1.04

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Lens, France

Warehouse/Distribution

Retail Trade

Europe

2,598

21,862

0.02

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Lens, France

Warehouse/Distribution

Retail Trade

Europe

4,349

36,587

0.04

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Nîmes, France

Warehouse/Distribution

Retail Trade

Europe

134,937

937,374

0.91

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Nîmes, France

Warehouse/Distribution

Retail Trade

Europe

2,554

17,742

0.02

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Nîmes, France

Warehouse/Distribution

Retail Trade

Europe

596

4,143

0.00

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

174,261

1,354,881

1.31

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

60,292

468,774

0.45

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

7,524

58,497

0.06

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Colomiers, France

Warehouse/Distribution

Retail Trade

Europe

2,899

22,539

0.02

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Thuit Hebert, France

Warehouse/Distribution

Retail Trade

Europe

107,958

674,209

0.65

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Thuit Hebert, France

Warehouse/Distribution

Retail Trade

Europe

68,476

427,643

0.41

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Ploufragan, France

Warehouse/Distribution

Retail Trade

Europe

122,591

817,315

0.79

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Cholet, France

Warehouse/Distribution

Retail Trade

Europe

99,261

701,879

0.68

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (a)

46%

Nîmes, France

Warehouse/Distribution

Retail Trade

Europe

177,786

1,354,012

1.31

%

INSEE (2)

Nov-2012

Nov-2012

Carrefour France, SAS Total

1,346,620

10,160,416

9.86

%

Bouygues Telecom, S.A.(a)

75%

Illkirch-Graffenstaden, France

Office

Telecommunications

Europe

80,721

3,247,688

3.15

%

INSEE (2)

Feb-2013

Feb-2013

Bouygues Telecom, S.A.(a)

95%

Tours, France

Office

Telecommunications

Europe

102,227

1,990,443

1.93

%

INSEE (2)

Sep-2009

Sep-2009

Bouygues Telecom, S.A. Total

182,948

5,238,130

5.08

%

The American Bottling Company

100%

Irving, TX

Industrial

Beverages, Food, and Tobacco

South

459,497

2,937,278

2.85

%

CPI

Jun-2014

Jun-2014

The American Bottling Company

100%

Houston, TX

Industrial

Beverages, Food, and Tobacco

South

262,450

1,904,924

1.85

%

CPI

Jun-2014

Jun-2014

The American Bottling Company Total

721,947

4,842,202

4.70

%

Daimler Trucks North America LLC

100%

Detroit, MI

Industrial

Automobile

Midwest

2,730,750

4,634,253

4.50

%

PPI

Jun-2020

Jun-2030

The New York Times Company

18%

New York, NY

Office

Media: Printing and Publishing

East

126,420

4,293,281

4.17

%

Fixed

Mar-2024

Mar-2044

Medica France S.A. (a)

46%

Chatou, France

Other

Healthcare, Education and Childcare

Europe

24,666

433,224

0.42

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. (a)

46%

Poissy, France

Other

Healthcare, Education and Childcare

Europe

24,592

473,839

0.46

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. (a)

46%

Rosny sous Bois, France

Other

Healthcare, Education and Childcare

Europe

21,846

401,409

0.39

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. (a)

46%

Paris, France

Other

Healthcare, Education and Childcare

Europe

24,770

609,221

0.59

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. (a)

46%

Rueil Malmaison, France

Other

Healthcare, Education and Childcare

Europe

23,813

573,345

0.56

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. (a)

46%

Sarcelles, France

Other

Healthcare, Education and Childcare

Europe

34,620

717,527

0.70

%

INSEE (2)

Jun-2010

Jun-2010

Medica France S.A. Total

154,306

3,208,565

3.11

%

US Airways Group, Inc.

75%

Tempe, AZ

Office

Transportation - Personal

West

167,890

3,171,483

3.08

%

CPI

Apr-2014

Nov-2029

Federal Express Corporation

40%

Collierville, TN

Office

Transportation - Cargo

South

39,038

701,821

0.68

%

CPI

Aug-2019

Nov-2029

Federal Express Corporation

40%

Collierville, TN

Office

Transportation - Cargo

South

39,038

701,821

0.68

%

CPI

Aug-2019

Nov-2029

Federal Express Corporation

40%

Collierville, TN

Office

Transportation - Cargo

South

39,038

701,821

0.68

%

CPI

Aug-2019

Nov-2029

Federal Express Corporation

40%

Collierville, TN

Office

Transportation - Cargo

South

39,038

701,821

0.68

%

CPI

Aug-2019

Nov-2029

Federal Express Corporation

100%

College Station, TX

Warehouse/Distribution

Transportation - Cargo

South

12,080

68,400

0.07

%

Fixed

Apr-2012

Apr-2017

Federal Express Corporation

100%

Corpus Christi, TX

Warehouse/Distribution

Transportation - Cargo

South

30,212

201,037

0.20

%

Fixed

May-2012

May-2017

Federal Express Corporation Total

198,444

3,076,722

2.98

%

Orbital Sciences Corporation

100%

Chandler, AZ

Industrial

Aerospace and Defense

West

355,307

2,770,560

2.69

%

CPI

Sep-2019

Sep-2029

The Titan Corporation

100%

San Diego, CA

Office

Electronics

West

166,403

2,706,799

2.63

%

CPI

Jul-2012

Jul-2017

CheckFree Corporation

50%

Norcross, GA

Office

Business and Commercial Services

South

50,063

969,079

0.94

%

CPI

Dec-2015

Dec-2030

CheckFree Corporation

50%

Norcross, GA

Office

Business and Commercial Services

South

34,150

822,231

0.80

%

CPI

Dec-2015

Dec-2030

CheckFree Corporation

50%

Norcross, GA

Office

Business and Commercial Services

South

26,125

620,279

0.60

%

CPI

Dec-2015

Dec-2030

CheckFree Corporation

50%

Norcross, GA

Land

Business and Commercial Services

South

1

62,368

0.06

%

CPI

Dec-2015

Dec-2030

CheckFree Corporation Total

110,338

2,473,956

2.40

%

Schuler AG (a)

33%

Göppingen, Germany

Industrial

Machinery

Europe

246,355

2,363,293

2.29

%

CPI

Oct-2027

Oct-2047

AutoZone, Inc.

100%

Decatur, AL

Retail

Retail Trade

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Bessemer, AL

Retail

Retail Trade

South

5,400

32,158

0.03

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Phenix City, AL

Retail

Retail Trade

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Mobile, AL

Retail

Retail Trade

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Chickasaw, AL

Retail

Retail Trade

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Montgomery, AL

Retail

Retail Trade

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Panama City, FL

Retail

Retail Trade

South

5,401

35,345

0.03

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Jacksonville, FL

Retail

Retail Trade

South

5,000

34,867

0.03

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Jacksonville, FL

Retail

Retail Trade

South

5,400

47,772

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Jacksonville, FL

Retail

Retail Trade

South

5,400

54,379

0.05

%

None

Aug-2013

Dec-2038

22

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage(e)

Annualized Rent(e)

Percentage of Total Rent(e)

Increase Factor

Lease Expiration

Maximum Term

AutoZone, Inc.

100%

Columbus, GA

Retail

Retail Trade

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Albany, GA

Retail

Retail Trade

South

5,400

43,262

0.04

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Brunswick, GA

Retail

Retail Trade

South

5,400

39,854

0.04

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Augusta, GA

Retail

Retail Trade

South

5,400

34,138

0.03

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Macon, GA

Retail

Retail Trade

South

5,400

49,503

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Collinsville, IL

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Alton, IL

Retail

Retail Trade

Midwest

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Wood River, IL

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Belleville, IL

Retail

Retail Trade

Midwest

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

West Monroe, LA

Retail

Retail Trade

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Baton Rouge, LA

Retail

Retail Trade

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Lake Charles, LA

Retail

Retail Trade

South

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Lake Charles, LA

Retail

Retail Trade

South

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Baton Rouge, LA

Retail

Retail Trade

South

6,600

21,567

0.02

%

Fixed

Mar-2014

Mar-2024

AutoZone, Inc.

100%

Baton Rouge, LA

Retail

Retail Trade

South

5,401

23,124

0.02

%

Fixed

Apr-2014

Apr-2019

AutoZone, Inc.

100%

Hammond, LA

Retail

Retail Trade

South

6,480

40,121

0.04

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Maplewood, MO

Retail

Retail Trade

Midwest

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Overland, MO

Retail

Retail Trade

Midwest

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

St. Louis, MO

Retail

Retail Trade

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Breckenridge, MO

Retail

Retail Trade

Midwest

5,400

44,151

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

St. Peters, MO

Retail

Retail Trade

Midwest

5,400

48,957

0.05

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

St. Peters, MO

Retail

Retail Trade

Midwest

6,660

48,718

0.05

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Gastonia, NC

Retail

Retail Trade

East

5,400

52,149

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Charlotte, NC

Retail

Retail Trade

East

5,400

42,283

0.04

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Statesville, NC

Retail

Retail Trade

East

5,400

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Lenoir, NC

Retail

Retail Trade

East

5,400

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Shelby, NC

Retail

Retail Trade

East

6,660

30,807

0.03

%

Fixed

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Kannapolis, NC

Retail

Retail Trade

East

6,408

24,069

0.02

%

Fixed

Oct-2010

Oct-2025

AutoZone, Inc.

100%

Morgantown, NC

Retail

Retail Trade

East

5,400

19,451

0.02

%

Fixed

Oct-2010

Aug-2019

AutoZone, Inc.

100%

Albuquerque, NM

Retail

Retail Trade

West

5,400

54,642

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Farmington, NM

Retail

Retail Trade

West

5,400

41,479

0.04

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Lexington, SC

Retail

Retail Trade

East

5,400

50,079

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

East Ridge, TN

Retail

Retail Trade

South

6,480

20,602

0.02

%

Fixed

Oct-2013

Oct-2023

AutoZone, Inc.

100%

Knoxville, TN

Retail

Retail Trade

South

6,660

23,008

0.02

%

Fixed

May-2014

May-2024

AutoZone, Inc.

100%

Austin, TX

Retail

Retail Trade

South

4,000

31,321

0.03

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Waco, TX

Retail

Retail Trade

South

4,800

37,585

0.04

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Corpus Christi, TX

Retail

Retail Trade

South

6,600

51,679

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Corpus Christi, TX

Retail

Retail Trade

South

6,480

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Victoria, TX

Retail

Retail Trade

South

6,480

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

San Antonio, TX

Retail

Retail Trade

South

5,400

42,283

0.04

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Nederland, TX

Retail

Retail Trade

South

4,000

31,321

0.03

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

West Orange, TX

Retail

Retail Trade

South

4,000

31,321

0.03

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Houston, TX

Retail

Retail Trade

South

5,400

53,488

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

San Antonio, TX

Retail

Retail Trade

South

5,400

55,795

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc. Total

302,230

2,216,594

2.15

%

Lucent Technologies, Inc.

100%

Charlotte, NC

Industrial

Electronics

East

568,670

2,072,735

2.01

%

Fixed

Mar-2010

Mar-2016

Sybron Dental Specialties, Inc.

100%

Romulus, MI

Industrial

Healthcare, Education and Childcare

Midwest

220,000

1,456,610

1.41

%

CPI

Dec-2018

Dec-2043

Sybron Dental Specialties, Inc.

100%

Glendora, CA

Office

Healthcare, Education and Childcare

West

25,000

555,148

0.54

%

CPI

Dec-2018

Dec-2043

Sybron Dental Specialties, Inc. Total

245,000

2,011,758

1.95

%

BellSouth Telecommunications, Inc.

100%

Ft. Lauderdale, FL

Warehouse/Distribution

Telecommunications

South

80,450

629,820

0.61

%

Fixed

Jun-2016

Jun-2021

BellSouth Telecommunications, Inc.

100%

Lafayette, LA

Office

Telecommunications

South

66,846

1,351,150

1.31

%

Fixed

Dec-2011

Jun-2013

BellSouth Telecommunications, Inc. Total

147,296

1,980,970

1.92

%

Quebecor Printing Atlanta, Inc.

100%

Doraville, GA

Industrial

Media: Printing and Publishing

South

432,559

1,940,625

1.88

%

CPI

Dec-2009

Dec-2042

Career Education Corporation

100%

Mendota Heights, MN

Other

Healthcare, Education and Childcare

Midwest

136,400

1,892,831

1.84

%

Fixed

May-2011

May-2019

Information Resources, Inc.

33%

Chicago, IL

Office

Business and Commercial Services

Midwest

30,797

683,141

0.66

%

CPI

Oct-2013

Oct-2023

Information Resources, Inc.

33%

Chicago, IL

Office

Business and Commercial Services

Midwest

53,195

1,179,801

1.14

%

CPI

Oct-2013

Oct-2015

Information Resources, Inc. Total

83,992

1,862,942

1.81

%

Fiskars Brands, Inc.

100%

Apopka, FL

Industrial

Chemicals, Plastics, Rubber, and Glass

South

260,160

1,258,273

1.22

%

CPI

Mar-2010

Mar-2035

Fiskars Brands, Inc.

100%

Apopka, FL

Industrial

Chemicals, Plastics, Rubber, and Glass

South

109,377

528,979

0.51

%

CPI

Mar-2010

Mar-2035

Fiskars Brands, Inc.

100%

Apopka, FL

Industrial

Chemicals, Plastics, Rubber, and Glass

South

5,292

25,561

0.02

%

CPI

Mar-2010

Mar-2035

Fiskars Brands, Inc. Total

374,829

1,812,813

1.76

%

Unisource Worldwide, Inc.

100%

Anchorage, AK

Warehouse/Distribution

Forest Products and Paper

West

44,712

344,803

0.33

%

Fixed

Dec-2014

Dec-2029

Unisource Worldwide, Inc.

100%

Commerce, CA

Warehouse/Distribution

Forest Products and Paper

West

411,561

1,422,080

1.38

%

Fixed

Apr-2010

Apr-2030

Unisource Worldwide, Inc. Total

456,273

1,766,883

1.71

%

Amylin Pharmaceuticals/SICOR, Inc.

50%

San Diego, CA

Office

Healthcare, Education and Childcare

West

35,951

835,705

0.81

%

CPI

Jul-2019

Jul-2029

Amylin Pharmaceuticals/SICOR, Inc.

50%

San Diego, CA

Industrial

Healthcare, Education and Childcare

West

36,205

835,705

0.81

%

CPI

Jul-2019

Jul-2029

Amylin Pharmaceuticals/SICOR, Inc. Total

72,156

1,671,410

1.62

%

23

Tenant/Lease Guarantor	Percent Ownership	Property Location	Property Type	Tenant Industry	Region	Square Footage(e)		Annualized Rent(e)		Percentage of Total Rent(e)			Increase Factor	Lease Expiration	Maximum Term
Cleo, Inc.	100%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		614,274		958,496		0.93	%	CPI	Dec-2010	Dec-2015
Cleo, Inc.	100%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		391,896		611,504		0.59	%	CPI	Dec-2010	Dec-2015
Cleo, Inc. Total							1,006,170		1,570,000		1.52	%
BE Aerospace, Inc.	100%	Lenexa, KS	Industrial	Aerospace and Defense	Midwest		130,094		646,020		0.63	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Warehouse/Distribution	Aerospace and Defense	East		90,800		259,807		0.25	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		74,026		211,805		0.21	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		50,200		143,638		0.14	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Office	Aerospace and Defense	East		43,788		125,286		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Industrial	Aerospace and Defense	East		15,402		44,071		0.04	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Dallas, TX	Industrial	Aerospace and Defense	South		22,680		123,051		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc. Total							426,990		1,553,679		1.51	%
Lowe’s Home Improvement Warehouse	100%	Bellevue, WA	Retail	Retail Trade	West		143,352		1,524,347		1.48	%	CPI	Aug-2018	Aug-2018
Pharmaco International, Inc.	100%	Austin, TX	Industrial	Business and Commercial Services	South		65,160		639,282		0.62	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.	100%	Austin, TX	Warehouse/Distribution	Business and Commercial Services	South		17,588		181,889		0.18	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.	100%	Austin, TX	Office	Business and Commercial Services	South		8,500		92,480		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.	100%	Austin, TX	Office	Business and Commercial Services	South		8,525		92,765		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.	100%	Austin, TX	Office	Business and Commercial Services	South		8,500		92,480		0.09	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc.	100%	Austin, TX	Office	Business and Commercial Services	South		40,560		413,825		0.40	%	CPI	Nov-2010	Nov-2030
Pharmaco International, Inc. Total							148,833		1,512,721		1.47	%
LIVHO, Inc.	100%	Livonia, MI	Hospitality	Hotels and Gaming	Midwest		158,000		1,500,000		1.46	%	Fixed	Jan-2012	Jan-2012
Sprint Spectrum, L.P.	100%	Rio Rancho, NM	Office	Telecommunications	West		94,730		1,424,561		1.38	%	Fixed	May-2011	May-2021
AT&T Corporation	100%	Bridgeton, MO	Industrial	Telecommunications	Midwest		85,510		1,307,706		1.27	%	Fixed	Sep-2011	Jun-2021
United Stationers Supply Company	100%	New Orleans, LA	Warehouse/Distribution	Forest Products and Paper	South		59,000		432,330		0.42	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company	100%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		75,000		374,352		0.36	%	CPI	Mar-2014	Mar-2030
United Stationers Supply Company	100%	San Antonio, TX	Warehouse/Distribution	Forest Products and Paper	South		63,098		413,899		0.40	%	CPI	Mar-2014	Mar-2030
United Stationers Supply Company Total							197,098		1,220,581		1.18	%
Hologic, Inc.	36%	Danbury, CT	Industrial	Electronics	East		22,335		221,263		0.21	%	CPI	Aug-2022	Aug-2042
Hologic, Inc.	36%	Bedford, MA	Industrial	Electronics	East		74,520		972,818		0.94	%	CPI	Aug-2022	Aug-2042
Hologic, Inc. Total							96,855		1,194,081		1.16	%
Omnicom Group, Inc.	100%	Venice, CA	Office	Business and Commercial Services	West		77,719		1,193,661		1.16	%	CPI	Sep-2010	Sep-2030
United States Postal Service	100%	Bloomingdale, IL	Office	Federal, State and Local Government	Midwest		60,000		1,170,000		1.14	%	Fixed	Apr-2011	Apr-2011
Lockheed Martin Corporation	100%	Webster, TX	Industrial	Business and Commercial Services	South		30,176		301,760		0.29	%	Fixed	Jun-2010	Jun-2013
Lockheed Martin Corporation	100%	King of Prussia, PA	Office	Business and Commercial Services	East		88,578		819,347		0.79	%	Fixed	Jul-2013	Jul-2023
Lockheed Martin Corporation Total							118,754		1,121,107		1.09	%
The United States Playing Card Company	100%	Erlanger, KY	Warehouse/Distribution	Media: Printing and Publishing	East		409,600		816,480		0.79	%	Fixed	Jun-2017	Jun-2020
The United States Playing Card Company	100%	Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		162,604		293,962		0.29	%	Fixed	Jun-2017	Jun-2020
The United States Playing Card Company Total							572,204		1,110,442		1.08	%
Anthony’s Manufacturing Company, Inc.	100%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		39,920		238,343		0.23	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.	100%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		95,420		569,819		0.55	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.	100%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		7,220		43,127		0.04	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc.	100%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		40,285		240,527		0.23	%	CPI	May-2012	May-2012
Anthony’s Manufacturing Company, Inc. Total							182,845		1,091,816		1.06	%
United Space Alliance, LLC	100%	Webster, TX	Industrial	Business and Commercial Services	South		38,150		412,020		0.40	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC	100%	Webster, TX	Industrial	Business and Commercial Services	South		5,856		63,245		0.06	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC	100%	Webster, TX	Industrial	Business and Commercial Services	South		2,044		22,075		0.02	%	None	Sep-2010	Sep-2011
United Space Alliance, LLC	100%	Webster, TX	Warehouse/Distribution	Business and Commercial Services	South		91,800		572,832		0.56	%	None	Sep-2010	Sep-2012
United Space Alliance LLC Total							137,850		1,070,172		1.04	%
OBI Group (a)	100%	Wroclaw, Poland	Retail	Retail Trade	Europe		113,559		1,013,469		0.98	%	CPI	Dec-2025	Dec-2040
Swat-Fame, Inc.	100%	City of Industry, CA	Industrial	Textiles, Leather, and Apparel	West		233,205		1,007,497		0.98	%	CPI	Dec-2010	Dec-2020
Consolidated Systems, Inc.	60%	Columbia, SC	Office	Mining, Metals, and Primary Metal Industries	East		24,459		68,424		0.07	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.	60%	Columbia, SC	Industrial	Mining, Metals, and Primary Metal Industries	East		294,249		823,165		0.80	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.	60%	Columbia, SC	Warehouse/Distribution	Mining, Metals, and Primary Metal Industries	East		13,792		38,582		0.04	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc.	60%	Columbia, SC	Warehouse/Distribution	Mining, Metals, and Primary Metal Industries	East		6,266		17,529		0.02	%	Fixed	Oct-2026	Oct-2046
Consolidated Systems, Inc. Total							338,765		947,700		0.92	%
24 Hour Fitness USA, Inc.	100%	Austin, TX	Other	Leisure, Amusement, Entertainment	South		43,935		907,245		0.88	%	CPI	Jun-2017	Jun-2033
NVR, Inc.	100%	Thurmont, MD	Industrial	Construction and Building	East		150,468		735,353		0.71	%	CPI	Mar-2014	Mar-2030
NVR, Inc.	100%	Farmington, NY	Industrial	Construction and Building	East		29,273		143,060		0.14	%	CPI	Mar-2014	Mar-2030

24

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage(e)

Annualized Rent(e)

Percentage of Total Rent(e)

Increase Factor

Lease Expiration

Maximum Term

NVR, Inc. Total

179,741

878,413

0.85

%

Sports Wholesale, Inc.

100%

Birmingham, AL

Warehouse/Distribution

Retail Trade

South

219,312

876,900

0.85

%

CPI

Dec-2014

Dec-2029

Deloro Satellite Company, Inc.

100%

Goshen, IN

Industrial

Mining, Metals, and Primary Metal Industries

Midwest

52,000

643,069

0.62

%

Fixed

Feb-2018

Feb-2023

Juniper Networks, Inc.

100%

Sunnyvale, CA

Industrial

Electronics

West

50,311

609,796

0.59

%

Fixed

Nov-2011

Nov-2021

Wal-Mart Stores, Inc.

100%

Greenfield, IN

Warehouse/Distribution

Retail Trade

Midwest

82,620

567,745

0.55

%

None

Jan-2020

Jan-2025

Childtime Childcare, Inc.

34%

Chandler, AZ

Other

Healthcare, Education and Childcare

West

2,026

38,260

0.04

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Tucson, AZ

Other

Healthcare, Education and Childcare

West

2,165

39,885

0.04

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Alhambra, CA

Other

Healthcare, Education and Childcare

West

2,262

57,530

0.06

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Chino, CA

Other

Healthcare, Education and Childcare

West

2,166

50,248

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Garden Grove, CA

Other

Healthcare, Education and Childcare

West

2,848

49,408

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Tustin, CA

Other

Healthcare, Education and Childcare

West

2,264

57,082

0.06

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Westland, MI

Other

Healthcare, Education and Childcare

Midwest

2,472

28,625

0.03

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Westland, MI

Other

Healthcare, Education and Childcare

Midwest

2,787

37,532

0.04

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Canton, MI

Other

Healthcare, Education and Childcare

Midwest

2,311

51,872

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Carrollton, TX

Other

Healthcare, Education and Childcare

South

2,438

49,912

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Duncanville, TX

Other

Healthcare, Education and Childcare

South

2,438

49,912

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc.

34%

Lewisville, TX

Other

Healthcare, Education and Childcare

South

2,440

49,912

0.05

%

CPI

Jan-2016

Jan-2041

Childtime Childcare, Inc. Total

28,617

560,176

0.54

%

Vertafore, Inc.

100%

College Station, TX

Office

Telecommunications

South

33,400

548,741

0.53

%

Fixed

Jun-2010

Jun-2010

Alcoa, Inc.

100%

Salisbury, NC

Warehouse/Distribution

Machinery

East

200,000

507,082

0.49

%

Fixed

Jun-2010

Jun-2020

Alstom Power

100%

Erlanger, KY

Warehouse/Distribution

Business and Commercial Services

East

197,400

484,746

0.47

%

Fixed

Jun-2017

May-2013

Jada Toys, Inc.

100%

City of Industry, CA

Industrial

Consumer Non-durable Goods

West

92,595

471,036

0.46

%

Fixed

Apr-2012

Apr-2017

The Retail Distribution Group, Inc.

40%

Grand Rapids, MI

Warehouse/Distribution

Beverages, Food, and Tobacco

Midwest

71,784

406,367

0.39

%

Fixed

Aug-2013

Aug-2013

Kmart Corporation

100%

Citrus Heights, CA

Retail

Retail Trade

West

89,760

180,000

0.17

%

None

May-2011

May-2026

Kmart Corporation

100%

Drayton Plains, MI

Retail

Retail Trade

Midwest

103,018

210,000

0.20

%

None

Mar-2011

Mar-2026

Kmart Corporation Total

192,778

390,000

0.38

%

Faurecia Exhaust Systems

100%

Toledo, OH

Office

Automobile

Midwest

61,000

387,415

0.38

%

CPI

Nov-2022

Nov-2022

Petrocon Engineering, Inc.

100%

Beaumont, TX

Office

Business and Commercial Services

South

8,580

76,362

0.07

%

Fixed

Dec-2011

Dec-2014

Petrocon Engineering, Inc.

100%

Beaumont, TX

Office

Business and Commercial Services

South

34,300

304,584

0.30

%

Fixed

Dec-2011

Dec-2014

Petrocon Engineering, Inc. Total

42,880

380,946

0.37

%

Pioneer Credit Recovery, Inc.

100%

Moorestown, NJ

Office

Business and Commercial Services

East

30,000

375,000

0.36

%

Fixed

Apr-2012

Apr-2018

S&ME, Inc.

100%

Raleigh, NC

Office

Business and Commercial Services

East

27,770

318,204

0.31

%

Fixed

Jul-2016

Jul-2026

Tubular Metal Systems

100%

Pinconning, MI

Industrial

Automobile

Midwest

220,588

297,684

0.29

%

CPI

Jul-2013

Dec-2022

Qwest Communications, Inc.

100%

Scottsdale, AZ

Industrial

Telecommunications

West

2,900

178,358

0.17

%

Fixed

Feb-2012

Feb-2017

Qwest Communications, Inc.

100%

Scottsdale, AZ

Industrial

Telecommunications

West

1,560

95,946

0.09

%

Fixed

Feb-2012

Feb-2017

Qwest Communications, Inc. Total

4,460

274,304

0.27

%

Penberthy, Inc.

100%

Prophetstown, IL

Industrial

Mining, Metals, and Primary Metal Industries

Midwest

161,878

268,890

0.26

%

CPI

Apr-2011

Apr-2026

Honeywell International, Inc.

100%

Houston, TX

Warehouse/Distribution

Aerospace and Defense

South

32,320

235,680

0.23

%

None

Sep-2010

Sep-2010

Fairpoint Communications, Inc.

100%

Milton, VT

Industrial

Telecommunications

East

30,624

221,438

0.21

%

Fixed

Feb-2013

Feb-2013

Tranco Logistics, LLC

100%

Chattanooga, TN

Industrial

Business and Commercial Services

South

80,000

216,000

0.21

%

None

Jan-2010

Jan-2011

Ace Hardware

100%

Houston, TX

Retail

Retail Trade

South

23,569

212,121

0.21

%

Fixed

Mar-2016

Mar-2026

Xerox Corporation

100%

Hot Springs, AR

Retail

Machinery

South

36,850

184,987

0.18

%

Fixed

May-2011

May-2021

25

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage(e)

Annualized Rent(e)

Percentage of Total Rent(e)

Increase Factor

Lease Expiration

Maximum Term

Continental Airlines, Inc.

100%

Houston, TX

Warehouse/Distribution

Transportation - Personal

South

25,125

163,500

0.16

%

Fixed

Jul-2013

Jul-2013

Multi-Tenant Building

100%

Broomfield, CO

Office

Various

West

42,349

158,042

0.15

%

Various

Various

Various

Winn-Dixie Stores, Inc.

100%

Brewton, AL

Retail

Grocery

South

30,625

134,500

0.13

%

None

Oct-2010

Oct-2030

Golder Associates Inc.

100%

Houston, TX

Office

Business and Commercial Services

South

3,330

31,572

0.03

%

Fixed

Oct-2010

Oct-2020

Golder Associates Inc.

100%

Houston, TX

Office

Business and Commercial Services

South

8,066

74,760

0.07

%

Fixed

Oct-2010

Oct-2020

Golder Associates Inc. Total

11,396

106,332

0.10

%

Affiliated Foods Southwest, Inc.

100%

Hope, AR

Retail

Grocery

South

35,784

85,882

0.08

%

CPI

Mar-2012

Mar-2037

Raytheon Company

100%

Webster, TX

Industrial

Business and Commercial Services

South

9,138

82,248

0.08

%

Fixed

Jul-2010

Jul-2025

The Boeing Company

100%

Houston, TX

Warehouse/Distribution

Aerospace and Defense

South

10,960

78,600

0.08

%

Fixed

Jan-2011

Jan-2013

Bike Barn Holding Company, Inc.

100%

Houston, TX

Retail

Retail Trade

South

6,216

71,280

0.07

%

Fixed

Aug-2010

Aug-2015

Kenyon International Emergency Services

100%

Houston, TX

Warehouse/Distribution

Healthcare, Education and Childcare

South

17,725

70,014

0.07

%

None

Oct-2009

Oct-2019

Olmsted Kirk Paper Co.

100%

Beaumont, TX

Office

Forest Products and Paper

South

5,760

48,038

0.05

%

Fixed

Dec-2012

Dec-2012

RGIS, LLC

100%

Bloomingdale, IL

Office

Business and Commercial Services

Midwest

2,550

44,625

0.04

%

Fixed

Nov-2011

Nov-2011

SBH Holdings, LLC

100%

Houston, TX

Office

Healthcare, Education and Childcare

South

5,632

42,578

0.04

%

Fixed

Aug-2013

Aug-2016

Jerry Prater Trucking Incorporated

100%

Salisbury, NC

Industrial

Transportation - Cargo

East

13,284

25,200

0.02

%

Fixed

Sep-2009

Sep-2012

Pittsburgh Institute of Aeronautics (c)

100%

West Mifflin, PA

Retail

Transportation - Personal

East

1

19,800

0.02

%

None

MTM

MTM

Classic Cuisines Catering

100%

Bloomingdale, IL

Office

Hotels and Gaming

Midwest

1,000

10,000

0.01

%

None

Apr-2011

Apr-2011

Action Buys Cars Inc. (c)

100%

Montgomery, AL

Retail

Retail Trade

South

1

9,900

0.01

%

None

MTM

MTM

Vacant

100%

Bloomingdale, IL

Office

N/A

Midwest

52,450

—

—

N/A

N/A

N/A

Vacant

100%

Bridgeton, MO

Office

N/A

Midwest

78,080

—

—

N/A

N/A

N/A

Vacant

100%

Broomfield, CO

Office

N/A

West

59,436

—

—

N/A

N/A

N/A

Vacant

100%

Chattanooga, TN

Industrial

N/A

South

162,317

—

—

N/A

N/A

N/A

Vacant

100%

College Station,TX

Office

N/A

South

19,152

—

—

N/A

N/A

N/A

Vacant

100%

Houston, TX

Office

N/A

South

32,613

—

—

N/A

N/A

N/A

Vacant

100%

Jacksonville, FL

Warehouse/Distribution

N/A

South

240,000

—

—

N/A

N/A

N/A

Vacant

100%

Little Rock, AR

Retail

N/A

South

86,290

—

—

N/A

N/A

N/A

Vacant

100%

Montgomery, AL

Retail

N/A

South

32,690

—

—

N/A

N/A

N/A

Vacant

100%

Moorestown, NJ

Office

N/A

East

35,567

—

—

N/A

N/A

N/A

Vacant

100%

Salisbury, NC

Warehouse/Distribution

N/A

East

87,000

—

—

N/A

N/A

N/A

Vacant

100%

Salisbury, NC

Office

N/A

East

10,681

—

—

N/A

N/A

N/A

Vacant

100%

Webster, TX

Industrial

N/A

South

23,214

—

—

N/A

N/A

N/A

Vacant

100%

West Mifflin, PA

Retail

N/A

East

121,053

—

—

N/A

N/A

N/A

Vacant Total

1,040,543

—

—

Grand Total (d)

16,974,094

$

103,077,284

100

%

(a)	Rents reflect a conversion rate of 1.4048 USD/EUR as of June 30, 2009.
(b)	INSEE construction index, an index published quarterly by the French Government.
(c)	Tenant is occupying property on a month-to-month (MTM) basis.
(d)	Excludes the 13 domestic self-storage properties held by an entity that is 40% owned by our subsidiary, Carey Storage, totaling approximately 0.4 million square feet.
(e)	Numbers may not add due to rounding.

26