W. P. CAREY INC.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2013

(in thousands)



																						Life on which
																						Depreciation in
							Costs Capitalized		(Decrease)			Gross Amount at which										Latest Statement
			Initial Cost to Company				Subsequent to		Increase in Net			Carried at Close of Period ^(c)						Accumulated		Date of	Date	of Income is
Description	Encumbrances		Land		Buildings		Acquisition ^(a)		Investments ^(b)			Land		Buildings		Total		Depreciation ^(c)		Construction	Acquired	Computed
Real Estate Under Operating Leases:
Office facilities in Broomfield, CO	$	—	$	248	$	2,538	$	4,844	$	(3,798	)	$	1,983	$	1,849	$	3,832	$	819	1974	Jan. 1998	40 yrs.
Industrial facilities in Erlanger, KY	11,722		1,526		21,427		2,966		141			1,526		24,534		26,060		10,094		1979; 1987	Jan. 1998	40 yrs.
Retail facility in Montgomery, AL	—		855		6,762		277		(6,978		)	142		774		916		435		1987	Jan. 1998	40 yrs.
Warehouse/distribution facilities in Anchorage, AK and Commerce, CA	—		4,905		11,898		—		12			4,905		11,910		16,815		2,231		1948; 1975	Jan. 1998	40 yrs.
Industrial facility in Toledo, OH	—		224		2,408		—		—			224		2,408		2,632		1,104		1966	Jan. 1998	40 yrs.
Industrial facility in Goshen, IN	—		239		940		—		—			239		940		1,179		180		1973	Jan. 1998	40 yrs.
Office facility in Raleigh, NC	—		1,638		2,844		157		(2,554		)	828		1,257		2,085		524		1983	Jan. 1998	20 yrs.
Office facility in King of Prussia, PA	—		1,219		6,283		1,295		—			1,219		7,578		8,797		2,854		1968	Jan. 1998	40 yrs.
Industrial facility in Pinconning, MS	—		32		1,692		—		—			32		1,692		1,724		677		1948	Jan. 1998	40 yrs.
Industrial facilities in San Fernando, CA	6,885		2,052		5,322		—		(1,889		)	1,494		3,991		5,485		1,616		1962; 1979	Jan. 1998	40 yrs.
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, and Texas	—		9,382		—		—		3,371			9,210		3,543		12,753		83		Various	Jan. 1998	15 yrs.
Industrial facility in Milton, VT	—		220		1,579		—		—			220		1,579		1,799		631		1987	Jan. 1998	40 yrs.
Land in Glendora, CA	—		1,135		—		—		17			1,152		—		1,152		—		N/A	Jan. 1998	N/A
Industrial facility in Doraville, GA	4,746		3,288		9,864		1,546		274			3,288		11,684		14,972		4,198		1964	Jan. 1998	40 yrs.
Office facilities in Collierville, TN and warehouse/distribution facility in Corpus Christi, TX	50,843		3,490		72,497		—		(15,609		)	288		60,090		60,378		5,815		1989; 1999	Jan. 1998	40 yrs.
Land in Irving and Houston, TX	8,037		9,795		—		—		—			9,795		—		9,795		—		N/A	Jan. 1998	N/A
Industrial facility in Chandler, AZ	11,396		5,035		18,957		7,435		541			5,035		26,933		31,968		9,743		1989	Jan. 1998	40 yrs.
Warehouse/distribution facility in Houston, TX	—		167		885		73		—			167		958		1,125		368		1952	Jan. 1998	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



													Life on which
													Depreciation in
				Costs Capitalized	(Decrease)		Gross Amount at which						Latest Statement
		Initial Cost to Company		Subsequent to	Increase in Net		Carried at Close of Period^(c)			Accumulated	Date of	Date	of Income is
Description	Encumbrances	Land	Buildings	Acquisition^(a)	Investments^(b)		Land	Buildings	Total	Depreciation ^(c)	Construction	Acquired	Computed
Office facility in Bridgeton, MO	—	842	4,762	1,832	71		842	6,665	7,507	1,839	1972	Jan. 1998	40 yrs.
Warehouse/distribution facility in Industry, CA	—	3,789	13,164	2,070	318		3,789	15,552	19,341	5,017	1976	Jan. 1998	40 yrs.
Retail facilities in Drayton Plains, MI and Citrus Heights, CA	—	1,039	4,788	202	193		1,039	5,183	6,222	1,178	1972	Jan. 1998	35 yrs.
Warehouse/distribution facility in Memphis, TN	—	1,882	3,973	21	(3,893	)	328	1,655	1,983	629	1969	Jan. 1998	15 yrs.
Retail facility in Bellevue, WA	7,992	4,125	11,812	393	(123	)	4,371	11,836	16,207	4,647	1994	Apr. 1998	40 yrs.
Office facility in Houston, TX	—	3,260	22,574	1,628	(23,311	)	211	3,940	4,151	2,985	1982	Jun. 1998	40 yrs.
Office facility in Rio Rancho, NM	7,893	1,190	9,353	1,742	—		1,467	10,818	12,285	3,884	1999	Jul. 1998	40 yrs.
Office facility in Moorestown, NJ	—	351	5,981	987	43		351	7,011	7,362	3,062	1964	Feb. 1999	40 yrs.
Office facility in Norcross, GA	27,911	5,200	25,585	11,822	—		5,200	37,407	42,607	13,262	1975	Jun. 1999	40 yrs.
Office facility in Illkirch, France	12,348	—	18,520	6	11,133		—	29,659	29,659	10,188	2001	Dec. 2001	40 yrs.
Industrial facilities in Lenexa, KS; Winston-Salem, NC; and Dallas, TX	—	1,860	12,539	2,875	5		1,860	15,419	17,279	3,632	1968; 1980; 1983	Sep. 2002	40 yrs.
Office facilities in Playa Vista and Venice, CA	49,161	2,032	10,152	52,816	1		5,889	59,112	65,001	4,629	1991; 1999	Sep. 2004; Sep. 2012	40 yrs.
Warehouse/distribution facility in Greenfield, IN	—	2,807	10,335	223	(8,383	)	967	4,015	4,982	995	1995	Sep. 2004	40 yrs.
Warehouse/distribution facilities in Birmingham, AL	4,284	1,256	7,704	—	—		1,256	7,704	8,960	1,789	1995	Sep. 2004	40 yrs.
Industrial facility in Scottsdale, AZ	1,189	586	46	—	—		586	46	632	11	1988	Sep. 2004	40 yrs.
Retail facility in Hot Springs, AR	—	850	2,939	2	(2,614	)	—	1,177	1,177	274	1985	Sep. 2004	40 yrs.
Warehouse/distribution facilities in Apopka, FL	—	362	10,855	657	(155	)	337	11,382	11,719	2,573	1969	Sep. 2004	40 yrs.
Land in San Leandro, CA	—	1,532	—	—	—		1,532	—	1,532	—	N/A	Dec. 2006	N/A
Sports facility in Austin, TX	3,007	1,725	5,168	—	—		1,725	5,168	6,893	1,285	1995	Dec. 2006	28.5 yrs.
Retail facility in Wroclaw, Poland	8,541	3,600	10,306	—	(1,455	)	3,443	9,008	12,451	1,364	2007	Dec. 2007	40 yrs.
Office facility in Fort Worth, TX	33,044	4,600	37,580	—	—		4,600	37,580	42,180	3,680	2003	Feb. 2010	40 yrs.
Warehouse/distribution facility in Mallorca, Spain	—	11,109	12,636	—	3,571		12,781	14,535	27,021	1,302	2008	Jun. 2010	40 yrs.
Office facilities in San Diego, CA	33,268	7,247	29,098	967	(5,514	)	4,762	27,036	31,798	3,179	1989	May 2011	40 yrs.
Retail facilities in Florence, AL; Snellville, GA; Concord, NC; Rockport, TX; and Virginia Beach, VA	22,000	5,646	12,367	—	—		5,646	12,367	18,013	434	2005; 2007	Sep. 2012	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



												Life on which
												Depreciation in
				Costs Capitalized	(Decrease)	Gross Amount at which						Latest Statement
		Initial Cost to Company		Subsequent to	Increase in Net	Carried at Close of Period^(c)			Accumulated	Date of	Date	of Income is
Description	Encumbrances	Land	Buildings	Acquisition ^(a)	Investments ^(b)	Land	Buildings	Total	Depreciation ^(c)	Construction	Acquired	Computed
Hospitality facilities in Irvine, Sacramento, and San Diego, CA; Orlando, FL; Des Plaines, IL; Indianapolis, IN; Louisville, KY; Linthicum Heights, MD; Newark, NJ; Albuquerque, NM; and Spokane, WA	140,000	32,680	198,999	—	—	32,680	198,999	231,679	6,843	1989; 1990	Sep. 2012	34 - 37 yrs.
Industrial facilities in Bluffton, OH; Auburn, IN; and Milan, TN	—	2,564	6,998	—	—	2,564	6,998	9,562	292	1968; 1975; 1979	Sep. 2012	30 yrs.
Land in Irvine, CA	1,649	4,173	—	—	—	4,173	—	4,173	—	N/A	Sep. 2012	N/A
Industrial facility in Alpharetta, GA	7,540	2,198	6,349	—	—	2,198	6,349	8,547	265	1997	Sep. 2012	30 yrs.
Office facility in Clinton, NJ	24,827	2,866	34,834	—	—	2,866	34,834	37,700	1,451	1987	Sep. 2012	30 yrs.
Office facilities in St. Petersburg, FL	—	3,280	24,627	—	—	3,280	24,627	27,907	1,026	1980; 1996; 1999	Sep. 2012	30 yrs.
Movie theater in Baton Rouge, LA	9,869	4,168	5,724	—	—	4,168	5,724	9,892	238	2003	Sep. 2012	30 yrs.
Office facilities in San Diego, CA	16,771	7,804	16,729	—	—	7,804	16,729	24,533	697	2002	Sep. 2012	30 yrs.
Industrial facilities in Richmond, CA	—	895	1,953	—	—	895	1,953	2,848	81	1987; 1999	Sep. 2012	30 yrs.
Warehouse/distribution and industrial facilities in Kingman, AZ; Woodland, CA; Jonesboro, GA; Kansas City, MO; Springfield, OR; Fogelsville, PA; and Corsicana, TX	61,262	16,386	84,668	—	—	16,386	84,668	101,054	3,499	Various	Sep. 2012	30 yrs.
Warehouse/distribution facilities in Lens, Nimes, Colomiers, Thuit Hebert, Ploufragen, and Cholet, France	89,224	15,779	89,421	—	7,428	16,893	95,735	112,628	3,981	Various	Sep. 2012	30 yrs.
Industrial facilities in Orlando, FL; Rocky Mount, NC, and Lewisville, TX	—	2,163	17,715	—	—	2,163	17,715	19,878	740	Various	Sep. 2012	30 yrs.
Industrial facilities in Chattanooga, TN	—	558	5,923	—	—	558	5,923	6,481	244	1974; 1989	Sep. 2012	30 yrs.
Industrial facility in Mooresville, NC	6,063	756	9,775	—	—	756	9,775	10,531	402	1997	Sep. 2012	30 yrs.
Industrial facility in McCalla, AL	—	960	14,472	6,350	—	960	20,822	21,782	652	2004	Sep. 2012	31 yrs.
Office facility in Lower Makefield Township, PA	10,460	1,726	12,781	—	—	1,726	12,781	14,507	524	2002	Sep. 2012	30 yrs.
Industrial facility in Fort Smith, AZ	—	1,063	6,159	—	—	1,063	6,159	7,222	250	1982	Sep. 2012	30 yrs.
Retail facilities in Greenwood, IN and Buffalo, NY	10,883	—	19,990	—	—	—	19,990	19,990	804	2003; 2004	Sep. 2012	30 - 31 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



													Life on which
													Depreciation in
				Costs Capitalized	(Decrease)		Gross Amount at which						Latest Statement
		Initial Cost to Company		Subsequent to	Increase in Net		Carried at Close of Period^(c)			Accumulated	Date of	Date	of Income is
Description	Encumbrances	Land	Buildings	Acquisition ^(a)	Investments ^(b)		Land	Buildings	Total	Depreciation ^(c)	Construction	Acquired	Computed
Industrial facilities in Bowling Green, KY and Jackson, TN	7,106	1,492	8,182	—	—		1,492	8,182	9,674	332	1989; 1995	Sep. 2012	31 yrs.
Education facilities in Avondale, AZ; Rancho Cucamonga, CA; Glendale Heights, IL; and Exton, PA	36,244	14,006	33,683	—	(1,961	)	12,045	33,683	45,728	1,315	1988; 2004	Sep. 2012	31 - 32 yrs.
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA	12,008	6,559	19,078	—	—		6,559	19,078	25,637	767	Various	Sep. 2012	31 yrs.
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY	14,276	6,080	23,424	—	—		6,080	23,424	29,504	935	1990; 1994; 2000	Sep. 2012	31 yrs.
Land in Kahl, Germany	10,406	6,694	—	—	473		7,167	—	7,167	—	N/A	Sep. 2012	N/A
Land in Memphis, TN and sports facilities in Bedford, TX and Englewood, CO	9,320	4,877	4,258	—	4,823		4,877	9,081	13,958	264	1990; 1995; 2001	Sep. 2012	31 yrs.
Office facilities in Mons, Belgium	11,032	1,505	6,026	195	537		1,611	6,652	8,263	252	1982; 1983	Sep. 2012	32 yrs.
Warehouse/distribution facilities in Oceanside, CA and Concordville, PA	4,242	3,333	8,270	—	—		3,333	8,270	11,603	331	1989; 1996	Sep. 2012	31 yrs.
Office facility in Peachtree City, GA	3,747	1,205	5,907	—	—		1,205	5,907	7,112	234	2001	Sep. 2012	31 yrs.
Self-storage and trucking facilities in numerous locations throughout the U.S.	—	74,551	319,186	—	—		74,551	319,186	393,737	12,633	Various	Sep. 2012	31 yrs.
Warehouse/distribution facility in La Vista, NE	21,968	4,196	23,148	—	—		4,196	23,148	27,344	864	2005	Sep. 2012	33 yrs.
Office facility in Pleasanton, CA	12,114	3,675	7,468	—	—		3,675	7,468	11,143	295	2000	Sep. 2012	31 yrs.
Office facility in San Marcos, TX	—	440	688	—	—		440	688	1,128	27	2000	Sep. 2012	31 yrs.
Office facilities in Espoo, Finland	60,643	40,555	15,662	—	3,969		43,418	16,768	60,186	660	1972	Sep. 2012	31 yrs.
Office facility in Conflans, France	21,987	7,208	11,333	196	(3,351	)	5,879	9,507	15,386	476	1985	Sep. 2012	31 yrs.
Office facility in Chicago, IL	15,090	2,169	19,010	—	—		2,169	19,010	21,179	745	1910	Sep. 2012	31 yrs.
Industrial facility in Louisville, CO	9,445	5,342	8,786	—	—		5,342	8,786	14,128	344	1993	Sep. 2012	31 yrs.
Industrial facilities in Hollywood and Orlando, FL	—	3,639	1,269	—	—		3,639	1,269	4,908	50	1996	Sep. 2012	31 yrs.
Warehouse/distribution facility in Golden, CO	—	808	4,304	77	—		808	4,381	5,189	186	1998	Sep. 2012	30 yrs.
Industrial facilities in Texarkana, TX and Orem, UT	—	1,755	4,493	—	—		1,755	4,493	6,248	176	1991; 1997	Sep. 2012	31 yrs.
Industrial facility in Eugene, OR	4,642	2,286	3,783	—	—		2,286	3,783	6,069	148	1980	Sep. 2012	31 yrs.
Industrial facility in Neenah, WI	4,186	438	4,954	—	—		438	4,954	5,392	194	1993	Sep. 2012	31 yrs.
Industrial facility in South Jordan, UT	12,814	2,183	11,340	—	—		2,183	11,340	13,523	444	1995	Sep. 2012	31 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



																						Life on which
																						Depreciation in
							Costs Capitalized		(Decrease)			Gross Amount at which										Latest Statement
			Initial Cost to Company				Subsequent to		Increase in Net			Carried at Close of Period^(c)						Accumulated		Date of	Date	of Income is
Description	Encumbrances		Land		Buildings		Acquisition ^(a)		Investments ^(b)			Land		Buildings		Total		Depreciation ^(c)		Construction	Acquired	Computed
Warehouse/distribution facility in Ennis, TX	2,522		478		4,087		145		—			478		4,232		4,710		164		1989	Sep. 2012	31 yrs.
Land in Chandler and Tucson, AZ; Alhambra, Chino, Garden Grove, and Tustin, CA; Westland and Canton, MI; and Carrollton, Duncansville, and Lewisville, TX	—		6,343		379		—		(1,384		)	5,338		—		5,338		—		N/A	Sep. 2012	N/A
Land in Braintree, MA	473		2,409		—		—		(1,403		)	1,006		—		1,006		—		N/A	Sep. 2012	N/A
Office facility in Helsinki, Finland	67,879		26,560		20,735		—		3,339			28,435		22,199		50,634		860		1969	Sep. 2012	32 yrs.
Office facility in Paris, France	76,089		23,387		43,450		—		4,719			25,038		46,518		71,556		1,776		1975	Sep. 2012	32 yrs.
Retail facilities in Bydgoszcz, Czestochowa, Jablonna, Katowice, Kielce, Lodz, Lubin, Olsztyn, Opole, Plock, Rybnik, Walbrzych, and Warsaw, Poland	151,391		26,564		72,866		—		7,021			28,439		78,012		106,450		4,087		Various	Sep. 2012	23 - 34 yrs.
Office facility in Laupheim, Germany	—		2,072		8,339		—		735			2,219		8,927		11,146		558		1960	Sep. 2012	20 yrs.
Industrial facilities in Danbury, CT and Bedford, MA	12,088		3,519		16,329		—		—			3,519		16,329		19,848		682		1965; 1980	Sep. 2012	29 yrs.
Office facility in Northfield, IL	36,500		18,979		40,063		—		—			18,979		40,063		59,042		1,287		1990	Jan. 2013	35 yrs.
Warehouse/distribution facilities in Venlo, Netherlands	—		10,154		18,590		—		1,691			10,751		19,684		30,435		387		Various	Apr. 2013	35 yrs.
Office and industrial facilities in Tampere, Finland	—		2,309		37,153		—		2,215			2,408		39,269		41,677		732		2012	Jun. 2013	40 yrs.
Office facility in Quincy, MA	—		2,316		21,537		—		—			2,316		21,537		23,853		337		1989	Jun. 2013	40 yrs.
Office facility in Salford, United Kingdom	—		—		30,012		—		1,627			—		31,639		31,639		271		1997	Sep. 2013	40 yrs.
Office facility in Lone Tree, CO	20,978		4,761		28,864		—		—			4,761		28,864		33,625		64		2001	Nov. 2013	40 yrs.
	$	1,322,005	$	537,206	$	1,891,906	$	103,799	$	(26,107	)	$	534,697	$	1,972,107	$	2,506,804	$	168,076

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



												Gross Amount
							Costs Capitalized		(Decrease)			at which Carried
			Initial Cost to Company				Subsequent to		Increase in Net			at Close of		Date of	Date
Description	Encumbrances		Land		Buildings		Acquisition ^(a)		Investments ^(b)			Period Total		Construction	Acquired
Direct Financing Method:
Retail facilities in several cities in the following states: Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, North Carolina, and Texas	$	—	$	—	$	16,416	$	—	$	(3,927	)	$	12,489	Various	Jan. 1998
Industrial facilities in Glendora, CA and Romulus, MI	—		454		13,251		9		(2,747		)	10,967		1950; 1970	Jan. 1998
Industrial facilities in Thurmont, MD and Farmington, NY	—		729		6,093		—		(184		)	6,638		1964; 1983	Jan. 1998
Industrial facilities in Irving and Houston, TX	19,437		—		27,599		—		(3,914		)	23,685		1978	Jan. 1998
Retail facility in Braintree, MA	2,908		—		8,761		—		(2,577		)	6,184		1994	Sep. 2012
Education facilities in Chandler and Tucson, AZ; Alhambra, Chino, Garden Grove, and Tustin, CA; Naperville, IL; Westland and Canton, MI; and Carrollton, Duncansville, and Lewisville, TX	—		—		7,840		—		(69		)	7,771		Various	Sep. 2012
Retail facility in Freehold, NJ	9,901		—		17,067		—		(39		)	17,028		2004	Sep. 2012
Office facilities in Corpus Christi, Odessa, San Marcos, and Waco, TX	4,981		2,089		14,211		—		(111		)	16,189		1969; 1996; 2000	Sep. 2012
Retail facilities in Osnabruck, Borken, Bunde, Arnstadt, Dorsten, Duisburg, Freiberg, Leimbach-Kaiserro, Monheim, Oberhausen, Rodewisch, Sankt Augustin, Schmalkalden, Stendal, Wuppertal, and Monheim, Germany	87,668		28,734		145,854		—		12,202			186,790		Various	Sep. 2012
Warehouse/distribution facility in Brierley Hill, United Kingdom	10,933		2,147		12,357		—		643			15,147		1996	Sep. 2012
Warehouse/distribution and industrial facilities in Mesquite, TX	6,716		2,851		15,899		—		(198		)	18,552		1961; 1972; 1975	Sep. 2012
Industrial facility in Rochester, MN	4,855		881		17,039		—		169			18,089		1997	Sep. 2012
Office facility in Irvine, CA	6,681		—		17,027		—		(126		)	16,901		1981	Sep. 2012
Industrial facility in Brownwood, TX	—		722		6,268		—		—			6,990		1964	Sep. 2012
	$	154,080	$	38,607	$	325,682	$	9	$	(878	)	$	363,420



																										Life on which
																										Depreciation
														Gross Amount at which Carried												in Latest
			Initial Cost to Company						Costs Capitalized		Decrease			at Close of Period ^(c)												Statement of
							Personal		subsequent to		in Net							Personal				Accumulated		Date of	Date	Income is
Description	Encumbrances		Land		Buildings		Property		Acquisition ^(a)		Investments ^(b)			Land		Buildings		Property		Total		Depreciation ^(c)		Construction	Acquired	Computed
Operating Real Estate - Self Storage Facilities:
Taunton, MA	$	—	$	4,300	$	12,274	$	—	$	303	$	(13,516	)	$	537	$	2,824	$	—	$	3,361	$	655	2001	Dec. 2006	25 yrs.
Pensacola, FL	1,762		560		2,082		—		21		—			560		2,103		—		2,663		227		2004	Sep. 2010	30 yrs.
	$	1,762	$	4,860	$	14,356	$	—	$	324	$	(13,516	)	$	1,097	$	4,927	$	—	$	6,024	$	882

__________

(a) Consists of the cost of improvements and acquisition costs subsequent to acquisition, including legal fees, appraisal fees, title costs, and other related professional fees. For business combinations, transaction costs are excluded.

(b) The increase (decrease) in net investment was primarily due to (i) the amortization of unearned income from net investment in direct financing leases, which produces a periodic rate of return that at times may be greater or less than lease payments received, (ii) sales of properties, (iii) impairment charges, and (iv) changes in foreign currency exchange rates.