CORPORATE PROPERTY ASSOCIATES 17 – GLOBAL INCORPORATED

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2013

(in thousands)



			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Gross Amount at which Carried at Close of Period ^(c)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Real Estate Under Operating Leases:
Industrial facility in Norfolk, NE	$	1,646	$	625	$	1,713	$	—	$	107		$	625	$	1,820	$	2,445	$	339	1975	Jun. 2008	30 yrs.
Office facility in Soest, Germany and warehouse/distribution facility in Bad Wünnenbeg, Germany	28,307		3,193		45,932		—		(6,394		)	2,777		39,954		42,731		5,872		1982; 1996	Jul. 2008	36 yrs.
Educational facility in Chicago, IL	14,465		6,300		20,509		—		(527		)	6,300		19,982		26,282		3,663		1912	Jul. 2008	30 yrs.
Industrial facilities in Alvarado, TX and Bossier City, LA	31,003		2,725		25,233		28,116		(3,395		)	4,701		47,978		52,679		4,003		Various	Aug. 2008	25 - 40 yrs.
Industrial facility in Waldaschaff, Germany	7,078		10,373		16,708		—		(9,429		)	6,694		10,958		17,652		3,540		1937	Aug. 2008	15 yrs.
Retail facilities in Phoenix, AZ and Columbia, MD	37,147		14,500		48,865		—		(2,062		)	14,500		46,803		61,303		6,143		2006	Sep. 2008	40 yrs.
Transportation facility in Birmingham, United Kingdom	13,729		3,591		15,810		949		477			3,649		17,178		20,827		1,733		2009	Sep. 2009	40 yrs.
Retail facilities in Gorzow, Poland	7,878		1,095		13,947		—		(950		)	1,027		13,065		14,092		1,394		2007; 2008	Oct. 2009	40 yrs.
Office facility in Hoffman Estates, IL	19,187		5,000		21,764		—		—			5,000		21,764		26,764		2,213		2009	Dec. 2009	40 yrs.
Office facility in The Woodlands, TX	37,693		1,400		41,502		—		—			1,400		41,502		42,902		4,236		2009	Dec. 2009	40 yrs.
Retail facilities located throughout Spain	48,787		32,574		52,101		—		(926		)	32,035		51,714		83,749		5,161		Various	Dec. 2009	20 yrs.
Industrial facilities in Middleburg Heights and Union Township, OH	6,345		1,000		10,793		2		—			1,000		10,795		11,795		1,057		1997	Feb. 2010	40 yrs.
Industrial facilities in Phoenix, AZ; San Diego, Fresno, Orange, Colton, Los Angeles, and Pomona, CA; Safety Harbor, FL; Durham, NC; and Columbia, SC	13,624		19,001		13,059		—		—			19,001		13,059		32,060		1,448		Various	Mar. 2010	27 - 40 yrs.
Industrial facility in Evansville, IN	16,834		150		9,183		11,745		—			150		20,928		21,078		1,679		2009	Mar. 2010	40 yrs.
Warehouse/distribution facilities in Plymouth, Southampton, Luton, Liverpool, Taunton, Cannock, and Bristol, United Kingdom	—		8,639		2,019		—		775			9,251		2,182		11,433		286		Various	Apr. 2010	28 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition^(a)	Increase (Decrease) in Net Investments ^(b)		Gross Amount at which Carried at Close of Period ^(c)			Accumulated Depreciation ^(c)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Buildings	Cost Capitalized Subsequent to Acquisition^(a)	Increase (Decrease) in Net Investments ^(b)		Land	Buildings	Total	Accumulated Depreciation ^(c)	Date of Construction	Date Acquired
Warehouse/distribution facilities in Zagreb, Croatia	51,896	31,941	45,904	—	3,972		33,380	48,437	81,817	5,916	2001; 2009	Apr. 2010	30 yrs.
Office facilities in Tampa, FL	34,663	18,300	32,856	196	—		18,323	33,029	51,352	2,956	1985; 2000	May 2010	40 yrs.
Warehouse/distribution facility in Bowling Green, KY	28,000	1,400	3,946	33,809	—		1,400	37,755	39,155	2,202	2011	May 2010	40 yrs.
Retail facility in Elorrio, Spain	—	19,924	3,981	—	3,569		22,780	4,694	27,474	409	1996	Jun. 2010	40 yrs.
Warehouse/distribution facility in Gadki, Poland	5,214	1,134	1,183	7,611	(242	)	1,102	8,584	9,686	589	2011	Aug. 2010	40 yrs.
Office and industrial facilities in Elberton, GA	—	560	2,467	—	—		560	2,467	3,027	237	1997; 2002	Sep. 2010	40 yrs.
Warehouse/distribution facilities in Unadilla and Rincon, GA	26,514	1,595	44,446	—	—		1,595	44,446	46,041	3,519	2000; 2006	Nov. 2010	40 yrs.
Office facility in Hartland, WI	3,597	1,402	2,041	—	—		1,402	2,041	3,443	185	2001	Nov. 2010	35 yrs.
Warehouse/distribution facilities in Zagreb, Dugo Selo, Kutina, Slavonski Brod, and Samobor, Croatia	22,821	6,700	24,114	194	1,086		6,885	25,209	32,094	2,586	2002; 2003; 2007	Dec. 2010	30 yrs.
Warehouse/distribution facilities located throughout the U.S.	112,131	31,735	129,011	—	(9,680	)	28,511	122,555	151,066	10,607	Various	Dec. 2010	40 yrs.
Office facility in Madrid, Spain	—	22,230	81,508	—	5,006		23,298	85,446	108,744	6,401	2002	Dec. 2010	40 yrs.
Office facility in Houston, TX	3,574	1,838	2,432	—	20		1,838	2,452	4,290	294	1982	Dec. 2010	25 yrs.
Retail facility in Las Vegas, NV	40,000	26,934	31,037	26,048	(44,166	)	5,070	34,783	39,853	1,299	2012	Dec. 2010	40 yrs.
Warehouse/distribution facilities in Oxnard and Watsonville, CA	45,070	16,036	67,300	—	(7,149	)	16,036	60,151	76,187	5,023	Various	Jan. 2011	10 - 40 yrs.
Warehouse/distribution facility in Dillon, SC	19,822	1,355	15,620	—	(69	)	1,286	15,620	16,906	1,108	2001	Mar. 2011	40 yrs.
Warehouse/distribution facility in Middleburg Heights, OH	—	600	1,690	—	—		600	1,690	2,290	116	2002	Mar. 2011	40 yrs.
Office facility in Martinsville, VA	8,848	600	1,998	10,876	—		600	12,874	13,474	652	2011	May 2011	40 yrs.
Land in Chicago, IL	5,135	7,414	—	—	—		7,414	—	7,414	—	N/A	Jun. 2011	N/A
Industrial facility in Fraser, MI	4,337	928	1,392	5,803	—		928	7,195	8,123	341	2012	Sep. 2011	35 yrs.
Retail facilities located throughout Italy	223,937	91,691	262,377	—	6,409		92,811	267,666	360,477	16,601	Various	Sep. 2011	29 - 40 yrs.
Retail facilities in Pozega and Sesvete, Croatia	24,230	2,687	24,820	15,378	692		4,089	39,488	43,577	2,733	2011	Nov. 2011	30 yrs.
Land in Orlando, FL	—	32,739	—	—	—		32,739	—	32,739	—	N/A	Dec. 2011	N/A
Land in Hudson, NY	843	2,080	—	—	—		2,080	—	2,080	—	N/A	Dec. 2011	N/A
Office facilities in Aurora, Eagan, and Virginia, MN	92,400	13,546	110,173	—	993		13,546	111,166	124,712	7,437	Various	Jan. 2012	32 - 40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Gross Amount at which Carried at Close of Period ^(c)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Industrial facility in Chimelow, Poland	13,419		1,323		5,245		18,841		2,334			1,443		26,300		27,743		875		2012	Apr. 2012	40 yrs.
Office facility in St. Louis, MO	4,202		954		4,665		—		—			954		4,665		5,619		185		1995	Jul. 2012	38 yrs.
Industrial facility in Avon, OH	3,745		926		4,975		—		—			926		4,975		5,901		215		2001	Aug. 2012	35 yrs.
Industrial facility in Elk Grove Village, IL	9,376		1,269		11,317		—		—			1,269		11,317		12,586		717		1961	Aug. 2012	40 yrs.
Education facilities in Montgomery, AL and Savannah, GA	16,667		5,255		16,960		—		—			5,255		16,960		22,215		688		1969; 2002	Sep. 2012	40 yrs.
Automotive dealerships in Huntsville, AL; Bentonville, AR; Bossier City, LA; Lee’s Summit, MO; Fayetteville, TN; and Fort Worth, TX	37,707		17,283		32,225		—		(15		)	17,269		32,224		49,493		1,901		Various	Sep. 2012	16 yrs.
Office facility in Warrenville, IL	19,667		3,698		28,635		—		—			3,698		28,635		32,333		1,054		2002	Sep. 2012	40 yrs.
Office and warehouse/distribution facilities in Zary, Poland	3,989		356		1,168		6,910		468			376		8,526		8,902		178		2013	Sep. 2012	40 yrs.
Industrial facility in Sterling, VA	14,790		3,118		14,007		5,071		—			3,118		19,078		22,196		663		1980	Oct. 2012	35 yrs.
Office facility in Houston, TX	128,200		19,331		123,084		3,726		2,899			19,331		129,709		149,040		4,764		1973	Nov. 2012	30 yrs.
Office facility in Eagan, MN	9,841		2,104		11,462		—		(84		)	1,994		11,488		13,482		377		2003	Dec. 2012	35 yrs.
Warehouse/distribution facility in Saitama Prefecture, Japan	24,700		17,292		28,575		—		(10,066		)	13,497		22,304		35,801		958		2006	Dec. 2012	26 yrs.
Retail facilities in Karlovac, Porec, Metkovic, Vodnjan, Umag, Bjelovar, Krapina, and Novigrad, Croatia	21,892		5,059		28,294		—		1,122			5,321		29,154		34,475		840		Various	Dec. 2012	32 - 40 yrs.
Industrial facility in Portage, WI	4,928		3,338		4,556		—		—			3,338		4,556		7,894		159		1970	Jan. 2013	30 yrs.
Retail facility in Dallas, TX	10,449		4,441		9,649		—		—			4,441		9,649		14,090		207		1913	Feb. 2013	40 yrs.
Land in Chicago, IL	—		15,459		—		—		—			15,459		—		15,459		—		N/A	Apr. 2013	N/A
Office facility in Northbrook, IL	5,835		—		942		—		—			—		942		942		36		2007	May 2013	40 yrs.
Industrial facility in Wageningen, Netherlands	22,660		4,790		24,301		—		1,554			5,046		25,599		30,645		310		2013	Jul. 2013	40 yrs.
Warehouse/distribution facility in Gadki, Poland	40,569		9,219		48,578		—		3,157			9,722		51,232		60,954		650		2007	Jul. 2013	40 yrs.
Automotive dealership in Lewisville, TX	9,450		3,269		9,605		—		—			3,269		9,605		12,874		112		2004	Aug. 2013	39 yrs.
Office facility in Auburn Hills, MI	6,242		789		7,163		—		—			789		7,163		7,952		33		2012	Oct. 2013	40 yrs.
Office facility in Haibach, Germany	12,215		2,544		11,114		—		261			2,593		11,326		13,919		104		1993	Oct. 2013	30 yrs.
Office facility in Houston, TX	31,200		7,898		37,474		—		1,619			7,898		39,093		46,991		47		1963	Dec. 2013	30 yrs.
Office facility in Tempe, AZ	14,800		—		16,996		—		—			—		16,996		16,996		—		2000	Dec. 2013	40 yrs.
	$	1,503,298	$	575,250	$	1,710,424	$	175,275	$	(58,634	)	$	553,389	$	1,848,926	$	2,402,315	$	129,051

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Gross Amount at which Carried at Close of Period Total		Date of Construction	Date Acquired
Description	Encumbrances		Land		Buildings		Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Gross Amount at which Carried at Close of Period Total		Date of Construction	Date Acquired
Direct Financing Method:
Office and industrial facility in Nagold, Germany	$	12,437	$	6,012	$	41,493	$	—	$	(22,705	)	$	24,800	1937; 1994	Aug. 2008
Industrial facilities in Sanford and Mayodan, NC	21,877		3,100		35,766		—		(1,211		)	37,655		1992; 1997; 1998	Dec. 2008
Industrial facility in Glendale Heights, IL	18,308		3,820		11,148		18,245		2,038			35,251		1991	Jan. 2009
Office facility in New York City, NY	115,506		—		233,720		—		10,364			244,084		2007	Mar. 2009
Industrial facilities in San Diego, Fresno, Orange, Colton, and Pomona, CA; Holly Hill, FL; Rockmart, GA; Ooltewah, TN; and Dallas, TX	9,824		1,730		20,778		—		(436		)	22,072		Various	Mar. 2010
Warehouse/distribution facilities in Plymouth, Newport, Southampton, Luton, Liverpool, Bristol, and Leeds, United Kingdom	—		508		24,009		—		1,405			25,922		Various	Apr. 2010
Warehouse/distribution facilities in Zagreb, Croatia	10,748		1,804		11,618		—		475			13,897		2002; 2003	Dec. 2010
Warehouse/distribution facility in Oxnard, CA	5,766		—		8,957		—		147			9,104		1975	Jan. 2011
Warehouse/distribution facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK	23,018		3,750		50,177		—		2,858			56,785		Various	Apr. 2011
Industrial facility in Clarksville, TN	4,688		600		7,291		—		205			8,096		1998	Aug. 2011
Industrial facility in Countryside, IL	2,013		425		1,800		—		25			2,250		1981	Dec. 2011
	$	224,185	$	21,749	$	446,757	$	18,245	$	(6,835	)	$	479,916

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



			Initial Cost to Company						Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)		Gross Amount at which Carried at Close of Period ^(c)										Date of Construction		Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Personal Property		Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)		Land		Buildings		Personal Property		Total		Accumulated Depreciation^(c)		Date of Construction	Date Acquired
Operating Real Estate - Hotel:
Orlando, FL	$	—	$	—	$	328	$	—	$	12,229	$	—	$	—	$	12,557	$	—	$	12,557	$	1,065	2013	Dec. 2011	15 yrs.

Operating Real Estate - Self-Storage Facilities:
Fort Worth, TX	1,538		610		2,672		—		3		—		610		2,675		—		3,285		218		2004	Apr. 2011	33 yrs.
Anaheim, CA	1,149		1,040		1,166		—		15		—		1,040		1,181		—		2,221		106		1988	Jun. 2011	33 yrs.
Apple Valley, CA	2,300		400		3,910		—		48		—		400		3,958		—		4,358		288		1989	Jun. 2011	35 yrs.
Apple Valley, CA	1,446		230		2,196		—		21		—		230		2,217		—		2,447		168		1989	Jun. 2011	33 yrs.
Bakersfield, CA	849		370		3,133		—		254		—		370		3,387		—		3,757		287		1972	Jun. 2011	30 yrs.
Bakersfield, CA	2,130		690		3,238		—		43		—		690		3,281		—		3,971		243		1987	Jun. 2011	34 yrs.
Bakersfield, CA	2,013		690		3,298		—		62		—		690		3,360		—		4,050		243		1990	Jun. 2011	35 yrs.
Bakersfield, CA	1,714		480		3,297		—		18		—		480		3,315		—		3,795		320		1974	Jun. 2011	35 yrs.
Fresno, CA	2,638		601		7,300		—		186		—		601		7,486		—		8,087		873		1976	Jun. 2011	30 yrs.
Grand Terrace, CA	728		950		1,903		—		7		—		950		1,910		—		2,860		192		1978	Jun. 2011	25 yrs.
Harbor City, CA	1,293		1,487		810		—		7		—		1,487		817		—		2,304		82		1987	Jun. 2011	30 yrs.
San Diego, CA	6,273		7,951		3,926		—		128		—		7,951		4,054		—		12,005		349		1986	Jun. 2011	30 yrs.
Palm Springs, CA	2,511		1,287		3,124		—		48		—		1,287		3,172		—		4,459		268		1989	Jun. 2011	30 yrs.
Palmdale, CA	2,773		940		4,263		—		213		—		940		4,476		—		5,416		348		1988	Jun. 2011	32 yrs.
Palmdale, CA	2,081		1,220		2,954		—		28		—		1,220		2,982		—		4,202		228		1988	Jun. 2011	33 yrs.
Riverside, CA	1,124		560		1,492		—		25		—		560		1,517		—		2,077		127		1985	Jun. 2011	30 yrs.
Rosamond, CA	1,700		460		3,220		—		19		—		460		3,239		—		3,699		247		1995	Jun. 2011	33 yrs.
Rubidoux, CA	1,247		514		1,653		—		13		—		514		1,666		—		2,180		127		1986	Jun. 2011	33 yrs.
South Gate, CA	1,774		1,597		2,067		—		66		—		1,597		2,133		—		3,730		181		1925	Jun. 2011	30 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



		Initial Cost to Company			Costs Capitalized Subsequent to Acquisition ^(a)	Increase (Decrease) in Net Investments^(b)		Gross Amount at which Carried at Close of Period ^(c)					Date of Construction		Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Buildings	Personal Property	Costs Capitalized Subsequent to Acquisition ^(a)	Increase (Decrease) in Net Investments^(b)		Land	Buildings	Personal Property	Total	Accumulated Depreciation ^(c)	Date of Construction	Date Acquired
Kailua-Kona, HI	832	1,000	1,108	—	11	—		1,000	1,119	—	2,119	112	1987	Jun. 2011	30 yrs.
Chicago, IL	2,342	600	4,124	—	37	—		600	4,161	—	4,761	318	1916	Jun. 2011	25 yrs.
Chicago, IL	1,322	400	2,074	—	127	—		400	2,201	—	2,601	172	1968	Jun. 2011	30 yrs.
Rockford, IL	1,363	548	1,881	—	5	—		548	1,886	—	2,434	191	1979	Jun. 2011	25 yrs.
Rockford, IL	250	114	633	—	—	—		114	633	—	747	63	1979	Jun. 2011	25 yrs.
Rockford, IL	1,319	380	2,321	—	—	—		380	2,321	—	2,701	233	1957	Jun. 2011	25 yrs.
Kihei, HI	5,623	2,523	7,481	—	144	—		2,523	7,625	—	10,148	461	1991	Aug. 2011	40 yrs.
Bakersfield, CA	1,900	1,060	3,138	—	10	(464	)	1,060	2,684	—	3,744	260	1979	Aug. 2011	25 yrs.
Bakersfield, CA	2,025	767	2,230	—	36	—		767	2,266	—	3,033	220	1979	Aug. 2011	25 yrs.
National City, CA	2,550	3,158	1,483	—	31	—		3,158	1,514	—	4,672	131	1987	Aug. 2011	28 yrs.
Mundelein, IL	3,600	1,080	5,287	—	54	—		1,080	5,341	—	6,421	515	1991	Aug. 2011	25 yrs.
Pearl City, HI	3,450	—	5,141	—	189	—		—	5,330	—	5,330	634	1977	Aug. 2011	20 yrs.
Palm Springs, CA	2,826	1,019	2,131	—	33	—		1,019	2,164	—	3,183	183	1987	Sep. 2011	28 yrs.
Loves Park, IL	1,271	394	3,390	—	10	(139	)	394	3,261	—	3,655	382	1997	Sep. 2011	20 yrs.
Mundelein, IL	782	535	1,757	—	44	—		535	1,801	—	2,336	207	1989	Sep. 2011	20 yrs.
Chicago, IL	3,200	1,049	5,672	—	30	(3	)	1,049	5,699	—	6,748	429	1988	Sep. 2011	30 yrs.
Bakersfield, CA	2,500	1,068	2,115	—	26	464		1,068	2,605	—	3,673	199	1971	Nov. 2011	40 yrs.
Beaumont, CA	2,610	1,616	2,873	—	21	—		1,616	2,894	—	4,510	198	1992	Nov. 2011	40 yrs.
Victorville, CA	1,200	299	1,766	—	36	—		299	1,802	—	2,101	129	1990	Nov. 2011	40 yrs.
Victorville, CA	1,021	190	1,756	—	32	—		190	1,788	—	1,978	122	1990	Nov. 2011	40 yrs.
San Bernardino, CA	1,000	698	1,397	—	18	—		698	1,415	—	2,113	92	1989	Nov. 2011	40 yrs.
Peoria, IL	2,230	549	2,424	—	20	—		549	2,444	—	2,993	218	1990	Nov. 2011	35 yrs.
East Peoria, IL	1,775	409	1,816	—	25	—		409	1,841	—	2,250	151	1986	Nov. 2011	35 yrs.
Loves Park, IL	1,000	439	998	—	93	139		439	1,230	—	1,669	95	1978	Nov. 2011	35 yrs.
Hesperia, CA	900	648	1,377	—	—	—		648	1,377	—	2,025	100	1989	Dec. 2011	40 yrs.
Mobile, AL	1,975	1,078	3,799	—	5	—		1,078	3,804	—	4,882	580	1974	Jun. 2012	12 yrs.
Slidell, LA	2,400	620	3,434	—	32	—		620	3,466	—	4,086	242	1998	Jun. 2012	32 yrs.
Baton Rouge, LA	800	401	955	—	11	—		401	966	—	1,367	112	1980	Jun. 2012	18 yrs.
Baton Rouge, LA	2,125	820	3,222	—	79	—		820	3,301	—	4,121	283	1980	Jun. 2012	25 yrs.
Gulfport, MS	1,200	591	2,539	—	14	—		591	2,553	—	3,144	350	1977	Jun. 2012	15 yrs.
Cherry Valley, IL	1,858	1,076	1,763	—	2	—		1,076	1,765	—	2,841	173	1988	Jul. 2012	20 yrs.
Fayetteville, NC	3,120	1,677	3,116	—	—	—		1,677	3,116	—	4,793	179	2001	Sep. 2012	34 yrs.
Tampa, FL	3,800	599	6,273	—	12	—		599	6,285	—	6,884	177	1999	Nov. 2012	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2013

(in thousands)



			Initial Cost to Company						Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)			Gross Amount at which Carried at Close of Period ^(c)												Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Personal Property		Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)			Land		Buildings		Personal Property		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
St. Petersburg, FL	4,100		2,253		3,512		—		—		(1		)	2,253		3,511		—		5,764		106		1990	Nov. 2012	40 yrs.
Palm Harbor, FL	7,100		2,192		7,237		—		79		—			2,192		7,316		—		9,508		218		2001	Nov. 2012	40 yrs.
Midland, TX	4,300		1,026		5,546		—		—		—			1,026		5,546		—		6,572		201		2008	Dec. 2012	20 yrs.
Midland, TX	5,830		2,136		6,665		—		—		—			2,136		6,665		—		8,801		233		2006	Dec. 2012	20 yrs.
Odessa, TX	3,970		975		4,924		—		—		—			975		4,924		—		5,899		178		2006	Dec. 2012	20 yrs.
Odessa, TX	5,400		1,099		6,510		—		—		—			1,099		6,510		—		7,609		239		2004	Dec. 2012	20 yrs.
Cathedral City, CA	1,457		—		2,275		—		—		—			—		2,275		—		2,275		71		1990	Mar. 2013	34 yrs.
Hilo, HI	3,965		296		4,996		—		—		—			296		4,996		—		5,292		65		2007	Jun. 2013	40 yrs.
Clearwater, FL	2,880		924		2,966		—		—		—			924		2,966		—		3,890		41		2001	Jul. 2013	32 yrs.
Winder, GA	415		546		30		—		—		—			546		30		—		576		1		2006	Jul. 2013	31 yrs.
Winder, GA	1,427		495		1,253		—		—		—			495		1,253		—		1,748		28		2001	Jul. 2013	25 yrs.
Orlando, FL	4,160		1,064		4,889		—		—		—			1,064		4,889		—		5,953		62		2000	Aug. 2013	35 yrs.
Palm Coast, FL	3,420		1,749		3,285		—		—		—			1,749		3,285		—		5,034		35		2001	Sep. 2013	29 yrs.
Holiday, FL	2,250		1,829		1,097		—		—		—			1,829		1,097		—		2,926		5		1975	Nov. 2013	23 yrs.
	$	154,124	$	66,066	$	202,609	$	—	$	14,699	$	(4	)	$	66,066	$	217,304	$	—	$	283,370	$	15,354

___________


(a)	Consists of the costs of improvements subsequent to purchase and acquisition costs including construction costs on build-to-suit transactions, 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.


(c)	Reconciliation of real estate and accumulated depreciation (see below):