2.4.0.8010060 - Disclosure - Equity Investments in Real Estatetruefalsefalse1false falsefalseFROM_Jan01_2013_TO_Jun30_2013http://www.sec.gov/CIK0001390213duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_EquityMethodInvestmentsAndJointVenturesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Equity Investments in Real Estate2false 2us-gaap_EquityMethodInvestmentsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Note 6. Equity Investments in Real Estate We own equity interests in single-tenant net leased properties that are generally leased to companies through noncontrolling interests (i) in partnerships and limited liability companies that we do not control but over which we exercise significant influence or (ii) as tenants-in-common subject to common control. Generally, the underlying investments are jointly-owned with affiliates. We account for these investments under the equity method of accounting (i.e., recorded initially at cost, subsequently adjusted for cash contributions, distributions and other adjustments required by equity method accounting, such as basis differences from acquisitions of certain investments). Earnings for each investment are recognized in accordance with each respective investment agreement and where applicable, based upon an allocation of the investment's net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. Investments in unconsolidated investments are required to be evaluated periodically. We periodically compare an investment's carrying value to its estimated fair value and recognize an impairment charge to the extent that the carrying value exceeds fair value and such decline is determined to be other than temporary. Additionally, we provide funding to developers for the acquisition, development and construction of real estate (“ADC Arrangement”). Under ADC Arrangements, we have provided two loans to third-party developers of real estate projects, which we account for as equity investments. The following table sets forth our ownership interests in our equity investments in real estate and their respective carrying values along with those ADC Arrangements that are recorded as equity investments (dollars in thousands): <div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:left;border-color:#000000;min-width:120px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:left;border-color:#000000;min-width:100px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:left;border-color:#000000;min-width:100px;"> </td></tr><tr style="height: 15px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">Ownership Interest</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="5" style="width: 225px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:225px;">Carrying Value at</td></tr><tr style="height: 15px"><td style="width: 365px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:365px;">Lessee/Counterparty</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:120px;">at June 30, 2013</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:110px;">June 30, 2013</td><td style="width: 5px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 110px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:110px;">December 31, 2012</td></tr><tr style="height: 18px"><td style="width: 365px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:365px;">C1000 Logistiek Vastgoed B.V. (a) (b)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:120px;">85%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 100px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 79,784</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;">$</td><td style="width: 100px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 81,516</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">U-Haul Moving Partners, Inc. and Mercury Partners, LP (c) (d)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">12%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 27,581</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 28,019</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">BPS Nevada, LLC (formerly known as BPS Parent, LLC) </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">15%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 26,600</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 26,253</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Madison Storage NYC, LLC (e)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">85%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 23,067</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> -</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Hellweg Die Profi-Baumärkte GmbH & Co. KG (a) (c) (d) (f)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">33%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 21,399</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 22,827</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Berry Plastics Corporation (c) (g)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">50%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 18,084</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 18,529</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Tesco plc (a) (c)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">49%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 16,981</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 17,487</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Eroski Sociedad Cooperativa - Mallorca (a) (d) </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">30%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 9,237</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 9,336</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Dick’s Sporting Goods, Inc. (c)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">45%</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 4,815</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 5,010</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 227,548</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 208,977</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">Shelborne Property Associates, LLC (h)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">N/A</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 86,931</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; text-align:right;border-color:#000000;min-width:100px;"> 63,896</td></tr><tr style="height: 18px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">IDL Wheel Tenant, LLC (i)</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:center;border-color:#000000;min-width:120px;">N/A</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 5,876</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 100px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:100px;"> 2,260</td></tr><tr style="height: 17px"><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 120px; text-align:left;border-color:#000000;min-width:120px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:center;border-color:#000000;min-width:10px;">$</td><td style="width: 100px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:100px;"> 320,355</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:center;border-color:#000000;min-width:10px;">$</td><td style="width: 100px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:100px;"> 275,133</td></tr></table></div>__________<ul><li style="margin-left:36px;list-style:lower-alpha;">The carrying value of this investment is affected by the impact of fluctuations in the exchange rate of the euro.</li><li style="margin-left:36px;list-style:lower-alpha;">This investment represents a tenancy-in-common interest, whereby the property is encumbered by debt for which we are jointly and severally liable. For this investment, the co-obligor is WPC and the total amount due under the arrangement was approximately $90.4 million at June 30, 2013. Of this amount, $77.7 million represents the amount we agreed to pay and is included within the carrying value of this investment. We received distributions of $3.3 million and $5.5 million from this investment during the six months ended June 30, 2013 and 2012, respectively.</li></ul>(c)       This investment is jointly-owned with Corporate Property Associates 16 – Global Incorporated, one of the CPA REITs.(d)       This investment is jointly-owned with WPC.(e)       In June 2013 we acquired an interest in Madison Storage NYC, LLC, which is a VIE. This ownership interest represents our effective economic interest based upon certain contractual arrangements with our partner in this entity that enable or could require us to purchase their interest.(f)       We received distributions of $1.1 million and $1.4 million from this investment during the six months ended June 30, 2013 and 2012, respectively. (g)       We received distributions of $1.2 million and $1.1 million from this investment during the six months ended June 30, 2013 and 2012, respectively. (h)       Represents a domestic ADC Arrangement that we account for under the equity method of accounting as the characteristics of the arrangement with the third-party developer are more similar to a jointly-owned investment or partnership rather than a loan. This investment is a VIE. We provided funding of $24.1 million to this investment during the six months ended June 30, 2013. At June 30, 2013, the unfunded balance on the loan was $41.3 million. (i)       Represents a domestic ADC Arrangement that we account for under the equity method of accounting as the characteristics of the arrangement with the third-party developer are more similar to a jointly-owned investment or partnership rather than a loan. This investment is a VIE. We provided funding of $3.6 million to this investment during the six months ended June 30, 2013. At June 30, 2013, the unfunded balance on the loan related to this investment was $44.6 million.We recognized net income from equity investments in real estate of $1.7 million and $3.9 million for the three months ended June 30, 2013 and 2012, respectively, and $2.9 million and $4.3 million for the six months ended June 30, 2013 and 2012, respectively. falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32847-111569 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=7658923&loc=d3e32787-111569 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false0Equity Method Investments DisclosurefalseEquity Investments in Real EstateUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.cpa17global.com/role/DisclosureEquityInvestmentsInRealEstate12