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):



		Ownership Interest	Carrying Value at December 31,
Lessee/Counterparty	Co-owner(s)	at December 31, 2013	2013		2012
C1000 Logistiek Vastgoed B.V. ^{(a) (b)}	WPC	85%	$	84,119	$	81,516
U-Haul Moving Partners, Inc. and Mercury Partners, LP ^{(c) (d)}	WPC/ CPA^®:16 – Global	12%	43,051		28,019
BPS Nevada, LLC (formerly known as BPS Parent, LLC) ^(e)	Third Party	15%	23,278		26,253
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC ^(f)	Third Party	45%	23,907		—
State Farm ^(g)	CPA^®:18 – Global	50%	20,913		—
Agrokor 5 ^{(a) (g)}	CPA^®:18 – Global	20%	19,217		—
Tesco plc ^{(a) (d)}	CPA^®:16 – Global	49%	17,965		17,487
Berry Plastics Corporation ^(d)	CPA^®:16 – Global	50%	17,659		18,529
Hellweg 2 ^{(a) (d) (h)}	WPC/ CPA^®:16 – Global	37%	12,978		22,827
Eroski Sociedad Cooperativa – Mallorca ^(a)	WPC	30%	9,639		9,336
Dick’s Sporting Goods, Inc. ^(d)	CPA^®:16 – Global	45%	4,646		5,010
Shelborne Property Associates, LLC ⁽ⁱ⁾	Third Party	33%	129,575		63,896
IDL Wheel Tenant, LLC ^(j)	Third Party	N/A	6,017		2,260
			$	412,964	$	275,133

___________


(a)	The carrying value of this investment is affected by the impact of fluctuations in the exchange rate of the euro.

(b)

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 $95.6 million and $93.2 million at December 31, 2013 and 2012, respectively. Of these amounts, $81.3 million and $79.2 million represent the amounts we agreed to pay and are included within the carrying value of this investment at December 31, 2013 and 2012, respectively.


(c)	In November 2013, we made a contribution of $17.0 million to this investment for the investee to repurchase its outstanding mortgage loan.


(d)	The portion of these investments owned by CPA^®:16 – Global were acquired by WPC upon completion of the merger of CPA^®:16 – Global with and into a subsidiary of WPC in January 2014.


(e)	In December 2013, we recognized an other-than-temporary impairment charge of $3.8 million on this investment (Note 9).


(f)	We acquired interests in Madison Storage NYC, LLC in June 2013 and Veritas Group IX-NYC, LLC in October 2013, both of which are VIEs. In addition to our 45% equity interest, we have a 40% indirect economic interest in this investment based upon certain contractual arrangements with our partner in this entity that enable or could require us to purchase their interest.


(g)	See “Acquisition of Equity Investment” below.


(h)	The decrease in carrying value is primarily due to our share of the German real estate transfer tax incurred by the investment. Please see “Hellweg 2 Restructuring” below for more information.

(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 $69.3 million to this investment during the year ended December 31, 2013. At December 31, 2013, the unfunded balance on the loan related to this investment was $2.5 million.

(j)

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 $3.8 million to this investment and capitalized $0.2 million of interest related to the loan during the year ended December 31, 2013. At December 31, 2013, the unfunded balance on the loan related to this investment was $44.3 million.

The following tables present combined summarized investee financial information of our equity method investment properties. Amounts provided are the total amounts attributable to the investment properties and do not represent our proportionate share (in thousands):



	December 31,
	2013			2012
Real estate assets	$	1,360,072		$	1,049,068
Other assets	346,335			252,022
Total assets	1,706,407			1,301,090
Debt	(776,467		)	(668,555		)
Accounts payable, accrued expenses and other liabilities	(92,119		)	(86,592		)
Total liabilities	(868,586		)	(755,147		)
Redeemable noncontrolling interests	—			(21,747		)
Partners’/members’ equity	$	837,821		$	524,196



	Years Ended December 31,
	2013			2012			2011
Revenues	$	132,760		$	111,151		$	82,072
Expenses	(135,339		)	(80,237		)	(63,267		)
Income from continuing operations	$	(2,579	)	$	30,914		$	18,805