Organization and Offering

6 Months Ended

Jun. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Offering

Organization

Organization

Corporate Property Associates 17 – Global Incorporated, or CPA^®:17 – Global, and, together with its consolidated subsidiaries, we, us, or our, is a publicly owned, non-listed real estate investment trust, or REIT, that invests primarily in commercial properties leased to companies domestically and internationally. We were formed in 2007 and are managed by W. P. Carey Inc., or WPC, and its subsidiaries (collectively, the advisor). As a REIT, we are not subject to United States, or the U.S., federal income taxation as long as we satisfy certain requirements, principally relating to the nature of our income, the level of our distributions, and other factors. We earn revenue principally by leasing the properties we own to single corporate tenants, primarily on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. Revenue is subject to fluctuation because of the timing of new lease transactions, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and changes in foreign currency exchange rates.

Substantially all of our assets and liabilities are held by CPA^®:17 Limited Partnership, or the Operating Partnership, and at June 30, 2014, we owned 99.99% of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC.

At June 30, 2014, our portfolio was comprised of our full or partial ownership interests in 358 fully-occupied properties, substantially all of which were triple-net leased to 108 tenants, and totaled approximately 34 million square feet. In addition, our portfolio was comprised of our full or partial ownership interests in 75 operating properties, which primarily included 71 self-storage properties, for an aggregate of approximately 6 million square feet. As opportunities arise, we may also make other types of commercial real estate related investments.