Net Investments in Properties and Real Estate Under Construction (Tables)

6 Months Ended

Jun. 30, 2016

Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, is summarized as follows (in thousands):



	June 30, 2016			December 31, 2015
Land	$	568,800		$	560,257
Buildings and improvements	2,138,049			2,098,620
Less: Accumulated depreciation	(259,154		)	(225,867		)
	$	2,447,695		$	2,433,010

Operating real estate, which consists of our domestic self-storage operations, at cost, is summarized as follows (in thousands):



	June 30, 2016			December 31, 2015
Land	$	55,653		$	66,066
Buildings and improvements	202,550			209,455
Less: Accumulated depreciation	(15,557		)	(30,308		)
	$	242,646		$	245,213

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following tables present a summary of assets acquired and liabilities assumed, and revenues and earnings thereon since the respective date of acquisition through June 30, 2016 (in thousands):



	Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Cash consideration	$	11,363
Assets acquired at fair value:
Land ^(a)	$	26,941
Buildings ^(a)	109,399
In-place lease intangible assets ^(a)	9,783
Other assets acquired	1,705
	147,828
Liabilities assumed at fair value:
Non-recourse debt, net	(70,578		)
Other liabilities assumed	(831		)
	(71,409		)
Total identifiable net assets	76,419
Gain on change in control of interests	(49,922		)
Carrying value of previously held equity investment	(15,134		)
	$	11,363

(a) The purchase price for this transaction was allocated to the assets acquired and liabilities assumed based upon its preliminary fair value. The information in this table is based on the best estimates of management as of the date of this Report. We are in the process of finalizing our assessment of the fair value of the assets acquired and liabilities assumed. Accordingly, the fair value of the assets acquired and liabilities assumed are subject to change.

Schedule Of Revenues and Net Income



	Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
	April 11, 2016 through June 30, 2016
Revenues	$	2,586

Net income ^{(b) (c)}	$	44,480
Net income attributable to CPA^®:17 – Global ^{(b) (c)}	$	44,480

(b) Includes a $49.9 million gain on change in control of interests.

Business Acquisition, Pro Forma Information

The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisition actually occurred on January 1, 2015, nor does it purport to represent the results of operations for future periods (in thousands).



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Pro forma total revenues	$	109,186		$	112,174		$	219,024		$	213,440

Pro forma net income ^(a)	$	44,769		$	38,171		$	99,207		$	107,041
Pro forma net income attributable to noncontrolling interests	(9,383		)	(10,935		)	(19,577		)	(20,199		)
Pro forma net income attributable to CPA^®:17 – Global	$	35,386		$	27,236		$	79,630		$	86,842
Pro forma basic and diluted weighted-average shares outstanding	341,349,946			333,793,320			340,373,494			332,433,364
Pro-forma basic and diluted income per share	$	0.10		$	0.08		$	0.23		$	0.26

___________

(a) Pro forma net income for the six months ended June 30, 2015 includes a gain on change in control of interests of $49.9 million and transaction costs of $3.7 million as if they were incurred on January 1, 2015.

Schedule of Real Estate Under Construction

The following table provides the activity of our Real estate under construction (in thousands):



	Six Months Ended
	June 30, 2016
Beginning balance	$	1,068
Capitalized funds	10,485
Placed into service	(1,965		)
Foreign currency translation adjustments	(38		)
Ending balance	$	9,550

Assets Held for Sale

Below is a summary of our properties held for sale (in thousands):



	June 30, 2016		December 31, 2015
Operating real estate, net	$	76,156	$	—
Assets held for sale	$	76,156	$	—