8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 2, 2007

W. P. Carey & Co. LLC

(Exact name of registrant as specified in its charter)

Delaware	001-13779	13-3912578
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
50 Rockefeller Plaza
New York, New York		10020
(Address of principal executive offices)		(Zip code)

(212) 492-1100
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 Regulation FD Disclosure.

On August 2, 2007, the registrant made available supplemental information, the “Supplemental Operating and Financial Data”, concerning its operations and portfolio as of June 30, 2007. A copy of this supplemental information is attached as Exhibit 99.1.

The information furnished pursuant to this “Item 7.01 Regulation FD Disclosure,” including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, regardless of any general incorporation language in such filing.

ITEM 9.01 Financial Statements and Exhibits.

Exhibit 99.1 Supplemental Operating and Financial Data of the registrant for the quarter ended June 30, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	W. P. Carey & Co. LLC
Date: August 2, 2007	By:	/s/ Mark J. DeCesaris
		Mark J. DeCesaris
		Managing Director and acting Chief Financial Officer

EX-99.1

Exhibit 99.1

W. P. Carey & Co. LLC
Supplemental Operating and Financial Data

For the Three and Six Months Ended
June 30, 2007

Important Disclosures About this Report

Important Note Regarding Non-GAAP Financial Measures
This supplemental operating and financial data includes non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”) and adjusted cash flow from operations. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures are provided in this supplemental disclosure report.

Forward-looking Statements
This supplemental operating and financial data contains certain forward-looking statements relating to W. P. Carey & Co. LLC. As used in this supplemental disclosure report, the terms “the Company,” “we,” “us” and “our” include W. P. Carey & Co. LLC, its consolidated subsidiaries and predecessors, unless otherwise indicated. Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as “anticipate,” “believe,” “expect,” “estimate,” “intend,” “could,” “should,” “would,” “may,” “seek,” “plan” or similar expressions. Do not unduly rely on forward-looking statements. They give our expectations about the future and are not guarantees, and speak only as of the date they are made. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievement to be materially different from the results of operations or plan expressed or implied by such forward-looking statements. Accordingly, such information should not be regarded as representations that the results or conditions described in such statements or that our objectives and plans will be achieved.

2

W. P. CAREY & CO. LLC
Supplemental Operating and Financial Data
For the Three and Six Months Ended June 30, 2007

Contents
Company Overview	4
Financial Highlights	5
Reconciliation of Net Income to EBITDA	6
Reconciliation of Net Income to Funds From Operations (FFO)	7
Adjusted Cash Flow from Operating Activities	8
Revenue Diversification Analysis	9
Revenue Stability Analysis	10
Portfolio Debt Summary	11-12
2007 Investments & Dispositions Update	13
Portfolio Diversification Analysis by Rent Contribution	14
Portfolio Diversification Analysis by Property Type	15
Portfolio Diversification Analysis by Tenant Industry	16
Portfolio Diversification Analysis by Geography	17
Portfolio Lease Maturity Analysis	18
Consolidated Balance Sheets	19
Consolidated Statements of Income	20
Consolidated Statements of Cash Flows	21
Detailed Property Summary	22-26

3

W. P. CAREY & CO. LLC
Company Overview
June 30, 2007

Key Company Contacts		Executive Offices
William P. Carey	Chairman of the Board and Director	50 Rockefeller Plaza
Gordon F. Dugan	President, Chief Executive Officer and Director	New York, NY 10020
Thomas E. Zacharias	Managing Director, Chief Operating Officer	Tel: 1-800-WPCAREY or (212) 492-1100
Mark J. DeCesaris	Managing Director, Acting Chief Financial Officer	Fax: (212) 492-8922
Susan C. Hyde	Managing Director, Director of Investor Relations	Web Site Address: www.wpcarey.com
Banks
Bank of America, N.A.	Administrative and Documentation Agent
The Bank of New York	Syndication Agent
PNC Bank, N.A.	Syndication Agent
Wells Fargo Bank, N.A.	Syndication Agent

	Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Stock Data	2007		2007		2006		2006
High Price	$	35.50	$	34.75	$	31.00	$	27.48
Low Price	$	29.71	$	29.84	$	27.50	$	24.10
Closing Price	$	31.45	$	33.37	$	30.07	$	27.33
Distributions per share — annualized	$	1.868	$	1.848	$	1.832	$	1.824
Shares outstanding at quarter end		39,129,982		38,442,298		38,262,157		38,117,923
Market value of outstanding shares at quarter end (in thousands)	$	1,230,638	$	1,282,819	$	1,150,543	$	1,041,763

4

W. P. CAREY & CO. LLC
Financial Highlights (Unaudited)
(in thousands, except share and per share data)

These financial highlights include non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), funds from operations (“FFO”) and adjusted cash flow from operations. A description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures are provided on the following pages.

	For the Three Months Ended				For the Six Months Ended
	June 30, 2007		June 30, 2006		June 30, 2007			June 30, 2006
Operations
EBITDA — investment management	$	63,517	$	10,843	$	75,090		$	26,559
EBITDA — real estate ownership		22,318		21,068		39,756			33,675
EBITDA Total	$	85,835	$	31,911	$	114,846		$	60,234
FFO — investment management	$	62,561	$	10,553	$	66,410		$	19,688
FFO — real estate ownership		17,004		18,002		31,721			30,693
FFO Total	$	79,565	$	28,555	$	98,131		$	50,381
Per Share
EBITDA per share (diluted) — investment management	$	1.59	$	0.28	$	1.88		$	0.68
EBITDA per share (diluted) — real estate ownership		0.56		0.53		1.00			0.87
EBITDA per share (diluted) Total	$	2.15	$	0.81	$	2.88		$	1.55
FFO per share (diluted) — investment management	$	1.56	$	0.27	$	1.66		$	0.51
FFO per share (diluted) — real estate ownership		0.43		0.46		0.80			0.79
FFO per share (diluted) Total	$	1.99	$	0.73	$	2.46		$	1.30
Adjusted Cash Flow From Operations
Adjusted cash flow					$	54,946		$	46,152
Adjusted cash flow per share (diluted)					$	1.38		$	1.19
Distributions paid					$	35,202		$	34,256
Payout ratio (distributions paid/adjusted cash flow)						64	%		74	%

5

W. P. CAREY & CO. LLC
Reconciliation of Net Income to EBITDA (Unaudited)
(in thousands, except share and per share amounts)

	For the Three Months Ended				For the Six Months Ended
Investment Management	June 30, 2007		June 30, 2006		June 30, 2007		June 30, 2006
Net income	$	32,100	$	5,482	$	36,489	$	13,211
Provision for income taxes		30,376		3,896		36,514		10,428
Depreciation and amortization		1,041		1,465		2,087		2,920
EBITDA — investment management	$	63,517	$	10,843	$	75,090	$	26,559
EBITDA per share (diluted)	$	1.59	$	0.28	$	1.88	$	0.68
Real Estate Ownership
Net income	$	9,930	$	11,822	$	16,341	$	15,158
Interest expense		5,669		4,541		10,532		8,929
Provision for income taxes		768		102		1,008		292
Depreciation and amortization		5,909		4,542		11,807		9,057
Reconciling items attributable to discontinued operations		42		61		68		239
EBITDA — real estate ownership	$	22,318	$	21,068	$	39,756	$	33,675
EBITDA per share (diluted)	$	0.56	$	0.53	$	1.00	$	0.87
Total Company
EBITDA	$	85,835	$	31,911	$	114,846	$	60,234
EBITDA per share (diluted)	$	2.15	$	0.81	$	2.88	$	1.55
Diluted weighted average shares outstanding		40,004,379		39,346,537		39,894,412		38,794,914

Non-GAAP Financial Disclosure
EBITDA as disclosed represents earnings before interest, taxes, depreciation and amortization. We believe that EBITDA is a useful supplemental measure for assessing the performance of our business segments, although it does not represent net income that is computed in accordance with GAAP. Accordingly, EBITDA should not be considered an alternative for net income as an indicator of our financial performance. EBITDA may not be comparable to similarly titled measures of other companies.

6

W. P. CAREY & CO. LLC
Reconciliation of Net Income to Funds From Operations (FFO) (Unaudited)
(in thousands, except share and per share amounts)

	For the Three Months Ended						For the Six Months Ended
Investment Management	June 30, 2007			June 30, 2006			June 30, 2007			June 30, 2006
Net income	$	32,100		$	5,482		$	36,489		$	13,211
Amortization, deferred taxes and other non-cash charges		28,261			3,141			25,546			2,947
FFO from equity investments		2,200			1,930			4,375			3,530
FFO — investment management	$	62,561		$	10,553		$	66,410		$	19,688
FFO per share (diluted)	$	1.56		$	0.27		$	1.66		$	0.51
Real Estate Ownership
Net income	$	9,930		$	11,822		$	16,341		$	15,158
Gain on sale of real estate		(962	)		—			(962	)		—
Depreciation, amortization and other non-cash charges		5,653			4,250			11,115			8,569
Straight-line and other rent adjustments		623			866			1,456			1,557
Impairment charges		—			—			—			3,357
FFO from equity investments		1,972			1,245			4,186			2,470
Minority investees’ share of FFO		(212	)		(181	)		(415	)		(418	)
FFO — real estate ownership	$	17,004		$	18,002		$	31,721		$	30,693
FFO per share (diluted)	$	0.43		$	0.46		$	0.80		$	0.79
Total Company
Funds from operations (FFO)	$	79,565		$	28,555		$	98,131		$	50,381
FFO per share (diluted)	$	1.99		$	0.73		$	2.46		$	1.30
Diluted weighted average shares outstanding		40,004,379			39,346,537			39,894,412			38,794,914

Non-GAAP Financial Disclosure
Funds from operations (FFO) is a non-GAAP financial measure that is commonly used in evaluating real estate companies. Although the National Association of Real Estate Investment Trusts (NAREIT) has published a definition of FFO, real estate companies often modify this definition as they seek to provide financial measures that meaningfully reflect their operations. FFO should not be considered as an alternative to net income as an indication of a company’s operating performance or to cash flow from operating activities as a measure of its liquidity. It should be used in conjunction with GAAP net income. FFO disclosed by other REITs may not be comparable to our FFO calculation.

NAREIT’s definition of FFO adjusts GAAP net income to exclude depreciation and gains/losses from the sales of properties and adjusts for FFO applicable to unconsolidated partnerships and joint ventures. We calculate FFO in accordance with this definition and then include other adjustments to GAAP net income to adjust for certain non-cash charges such as amortization of intangibles, deferred income tax benefits and expenses, straight-line rents, stock compensation, impairment charges on real estate and unrealized foreign currency exchange gains and losses. We exclude these items from GAAP net income as they are not the primary drivers in our decision making process. Our assessment of our operations is focused on long term sustainability and not on such non-cash items which may cause short-term fluctuations in net income but that have no impact on cash flows.

7

W. P. CAREY & CO. LLC
Adjusted Cash Flow from Operating Activities (Unaudited)
(in thousands)

	For the Six Months Ended
	June 30, 2007			June 30, 2006
Cash flow from operating activities — as reported	$	11,648		$	35,565
Adjustments:
CPA®:16 — Global performance adjustment, net (1)		17,763			7,808
CPA®:12/14 Merger — payment of taxes (2)		20,708			—
Deferred income tax adjustment (1)		(2,857	)		(987	)
Distributions received from equity investments in real estate in excess of equity income (3)		5,435			3,106
Changes in working capital (3)		2,249			660
Adjusted cash flow from operating activities	$	54,946		$	46,152
Distributions paid	$	35,202		$	34,256
Payout ratio (distributions paid/adjusted cash flow)		64	%		74	%

Non-GAAP Financial Disclosure
Adjusted cash flow from operating activities is a non-GAAP financial measure that represents cash flow from operating activities on a GAAP basis adjusted for certain timing differences and deferrals as described below. We believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations and is used in evaluating distributions to shareholders. Adjusted cash flow from operating activities should not be considered as an alternative for cash flow from operating activities computed on a GAAP basis as a measure of our liquidity. Adjusted cash flow from operating activities may not be comparable to similarly titled measures of other companies.

(1)	Amounts deferred in lieu of CPA®:16 — Global achieving its performance criterion, net of a 45% tax provision. In determining cash flow generated from our core operations, we believe that it is more appropriate to normalize cash flow for the impact of CPA®:16 — Global achieving its performance criterion, rather than recognizing the entire deferred amount in the quarter in which the performance criterion was met as this revenue was actually earned over a three year period.
(2)	Timing differences arising from the payment of certain liabilities in a period other than that in which the expense is recognized in determining net income may distort the actual cash flow our core operations generate. We adjust our GAAP cash flow from operations to record such amounts in the period in which the liability was actually incurred. We believe that this is a fairer measure of determining our cash flow from core operations.
(3)	We take a substantial portion of our asset management revenue in shares of the CPA® REIT funds. To the extent that we receive distributions in excess of the equity income that we recognize, we include such amounts in our evaluation of cash flow from core operations.

8

W. P. CAREY & CO. LLC
Revenue Diversification Analysis (GAAP Modified) (Unaudited)
(in thousands)

							For the			For the			For the
	For the Six Months Ended						Year Ended			Six Months Ended			Year Ended
Revenue from Investment Management	June 30, 2007			June 30, 2006			December 31, 2006			June 30, 2005			December 31, 2005
Asset management revenue	$	45,238		$	29,114		$	57,633		$	25,467		$	52,332
Structuring revenue		58,031			12,354			22,506			20,524			28,197
Incentive, termination and subordinated disposition revenue from mergers		—			—			46,018			—			—
Other interest income		3,887			1,138			2,853			1,417			3,176
Revenue of other business operations		—			—			—			55			372
Total management services revenue	$	107,156		$	42,606		$	129,010		$	47,463		$	84,077
Percentage of total adjusted revenue		69	%		50	%		60	%		53	%		49	%
Revenue from Real Estate Ownership
Lease revenue — continuing operations	$	39,630		$	36,412		$	74,090		$	33,622		$	67,215
Revenue of discontinued operations		2,250			1,186			1,191			3,447			8,926
Other real estate income		6,415			4,532			9,381			4,582			10,706
Other interest income		354			400			580			249			335
Total real estate revenue	$	48,649		$	42,530		$	85,242		$	41,900		$	87,182
Percentage of total adjusted revenue		31	%		50	%		40	%		47	%		51	%
Reconciliation of Total Revenue
Total revenue — as reported	$	156,033		$	105,304		$	273,258		$	89,110		$	168,784
Less: Reimbursed costs from affiliates (1)		(6,719	)		(22,892	)		(63,630	)		(4,860	)		(9,962	)
Add: Other interest income		4,241			1,538			3,433			1,666			3,511
Add: Revenue of discontinued operations		2,250			1,186			1,191			3,447			8,926
Total Adjusted Revenue	$	155,805		$	85,136		$	214,252		$	89,363		$	171,259

(1) Total revenues exclude reimbursements of costs received from affiliated CPA^® REITs as they have no impact on net income.

9

W. P. CAREY & CO. LLC
Revenue Stability Analysis (GAAP Modified) (Unaudited)
(in thousands except per share data)

											For the					For the					For the
	For the Six Months Ended										Year Ended					Six Months Ended					Year Ended
	June 30, 2007					June 30, 2006					December 31, 2006					June 30, 2005					December 31, 2005
2007	Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%
Revenue Type
Rents (1)	$	42,234				$	37,998				$	75,861				$	37,318				$	76,476
Management revenue (2)		49,125					30,252					60,486					26,884					55,508
Rents and Management Revenue		91,359		59	%		68,250		80	%		136,347		64	%		64,202		72	%		131,984		77	%
Structuring revenue (3)		58,031					12,354					22,506					20,524					28,197
Disposition / termination revenue (4)		—					—					46,018					—					—
Other real estate income (lease terminations and other settlements) (5)		6,415					4,532					9,381					4,637					11,078
Structuring Revenue & Other Income		64,446		41	%		16,886		20	%		77,905		36	%		25,161		28	%		39,275		23	%
Total	$	155,805		100	%	$	85,136		100	%	$	214,252		100	%	$	89,363		100	%	$	171,259		100	%

(1)	Rents = lease revenue (continuing operations) + revenue of discontinued operations + other interest income from real estate ownership.
(2)	Management revenue includes asset management revenue and interest income earned from CPA® REITs under management.
(3)	Structuring revenue includes structuring fees and deferred structuring fees.
(4)	Disposition and termination revenues related to CPA®:12/14 merger.
(5)	The six months ended June 30, 2005 and the year ended December 31, 2005 also include revenues of other business operations generated from our investment management.

10

W. P. CAREY & CO. LLC
Portfolio Debt Summary (Pro rata basis) (Unaudited)
June 30, 2007

						Outstanding
Tenant/Lease Guarantor	Rate Type	Interest Rate			Maturity Date	Balance
Quebecor Printing USA (GA)	Fixed		6.82	%	Aug-2007	$	6,059,586
Amerisure Insurance (Michigan Mutual)	Fixed		8.80	%	Dec-2007		9,545,973
Self-Storage Credit Facility	Variable		7.57	%	Dec-2008		35,581,000
Billipp Portfolio	Variable		5.92	%	Dec-2008		5,000,005
Orbital Sciences Corporation	Fixed		7.38	%	Jun-2009		12,727,187
America West Holdings Corporation (74.58%)	Fixed		7.23	%	Aug-2009		15,850,803
Retail Distribution Group (40%)	Fixed		8.51	%	Sep-2009		2,226,871
Bell South Telecommunications	Fixed		8.11	%	Jan-2010		3,677,716
Hibbett Sports	Fixed		7.50	%	Apr-2010		4,683,625
Detroit Diesel Corporation	Fixed		7.96	%	Jun-2010		7,543,117
Federal Express Corporation (40%)	Fixed		7.50	%	Jan-2011		16,684,072
Autozone- Series A	Fixed		6.85	%	Jan-2011		1,643,614
Childtime Childcare, Inc. (33.93%)	Fixed		7.50	%	Jan-2011		2,292,553
Information Resources, Inc. (33.33%)	Fixed		7.60	%	Jan-2011		7,708,531
Pioneer Credit Recovery, Inc.	Fixed		7.34	%	Jan-2011		5,597,727
Autozone, Inc. - Series B	Fixed		6.85	%	Feb-2011		2,561,036
Brown/Career Education	Fixed		7.58	%	Jun-2011		6,965,080
24 Hour Fitness (Austin)	Fixed		7.50	%	Aug-2011		2,987,934
Sprint Spectrum, LP	Fixed		7.64	%	Aug-2011		8,266,724
Qwest Communications, Inc.	Fixed		7.50	%	Jun-2012		1,495,585
Autozone- Series C	Fixed		6.85	%	Aug-2012		1,027,324
BE Aerospace, Inc.	Fixed		6.11	%	Nov-2012		8,672,736
Faurecia (AP Parts)	Fixed		5.16	%	Nov-2012		2,591,110
Anthony, Inc. Industry	Fixed		5.11	%	Nov-2012		8,991,571
Alstom & Werner	Fixed		5.18	%	Dec-2012		10,432,916
SAS Pantin Invest France (75%) (1)	Variable		4.54	%	Jul-2013		8,332,652
Autozone- Series D	Fixed		6.85	%	Aug-2013		2,611,657
Aviva France (fka Tellit Assurances -SA) (75%) (1)	Variable		4.49	%	Aug-2013		2,453,546
Direction Regional des Affaires Sanitaires et Sociales (aka SCI Le Mail) (75%) (1)	Variable		4.60	%	Aug-2013		897,451
SARL S3T (aka SAS Immo Invest) (80%) (1)	Variable		4.56	%	May-2014		4,721,228
DSM Food Specialties (aka SAS Immo Invest) (80%) (1)	Variable		4.56	%	May-2014		1,070,182
Carrefour France, SAS (49.625%) (1)	Variable		5.50	%	Dec-2014		59,978,500
Lowe’s Home Improvement Warehouse	Fixed		4.87	%	Sep-2015		9,572,695
Bouygues Telecom, S.A. (Tours) (95%) (1)	Variable		3.86	%	Oct-2015		8,149,623
Dr. Pepper	Fixed		5.13	%	Nov-2015		32,880,385

11

W. P. CAREY & CO. LLC
Portfolio Debt Summary (Pro rata basis) (Unaudited)
June 30, 2007

						Outstanding
Tenant/Lease Guarantor	Rate Type	Interest Rate			Maturity Date	Balance
CheckFree Holdings, Inc. (50%)	Fixed		6.18	%	Jun-2016	$	15,000,000
Bouygues Telecom, S.A. (Illkirch-Graffenstaden) (75%) (1)	Variable		5.25	%	Oct-2016		14,910,777
Consolidated Systems (60%)	Fixed		5.87	%	Nov-2016		7,150,173
Western Union	Fixed		5.50	%	Jan-2017		6,000,000
Hellweg II (5%)(1)	Fixed		5.49	%	Jan-2017		14,246,586
SICOR, Inc. (50%)	Fixed		6.20	%	Jul-2017		17,675,000
Medica France, SA (35%) (1)	Fixed		5.63	%	Oct-2017		14,646,879
Hologic, Inc. (36%)	Fixed		6.40	%	May-2023		5,921,324
Total Limited Recourse Debt			6.23%	(2)		$	417,033,054
LLC Credit Facility	Variable		6.48	%	Jun-2011	$	28,000,000
Total Debt			6.25%	(2)		$	445,033,054
Fixed rate debt						$	275,938,090
Floating rate debt						$	169,094,964

(1)	Debt balance calculated using an exchange rate of $1.3475/EUR at June 30, 2007.
(2)	Reflects weighted average interest rate for the applicable debt.

12

W. P. CAREY & CO. LLC
2007 Investments Update (Unaudited)
June 30, 2007

	Tenant/Lease	Property	Purchase Price					Gross Square
Portfolio(s)	Guarantor	Location(s)	(000s)		Closing Date	Property Type		Footage (1)
Investment Management Activity
CPA®:16 — Global	Nordic Cold Storage, LLC	Atlanta, GA	$	87,478	Feb-07	Warehouse/Distribution			1,306,533
CPA®:16 — Global	Holopack International
	Corp. (2)	Columbia, SC		39,791	Mar-07	Industrial			78,200
CPA®:16 — Global	Fraikin SAS	10 locations throughout France		8,995	Mar-07	Industrial			127,419
CPA®:15, 16 — Global	OBI A.G.	Rybnik, Poland		10,955	Mar-07	Retail			22,873
CPA®:16 — Global	PaloDEx Group Oy	Tuulsula, Finland		19,714	Mar-07	Industrial			159,802
CPA®:14, 15, 16 — Global	Hellweg Die
	Profi-Baumarkte GmBH &
	Co. KG	37 properties in Germany		429,588	Apr-07	Retail			3,207,462
		Arizona, California,
CPA®:16 — Global	International Aluminum	Illinois, South Carolina,
	Corporation	Texas		54,555	Jun-07	Warehouse/Distribution			757,266
CPA®:16 — Global	Mountain City Meat Company	Denver, CO		8,613	Jun-07	Warehouse/Distribution			63,773
Total Investment Management Acquisitions				659,689					5,723,328
Principal Activity
Investments	Multiple	Multiple		34,979	Various	Other Properties			552,594
Note Receivable	Hellweg Die
	Profi-Baumarkte GmBH &
	Co. KG	N/A		16,799	Apr-07		N/A		N/A
Total Principal Acquisitions				51,778					552,594
Total Acquisitions			$	711,467					6,275,922

2007 Dispositions Update (Unaudited)

			Gross Sale
	Tenant/Lease	Property	Price		Disposition		Gross Square
Portfolio(s)	Guarantor	Location(s)	(000s)		Date	Property Type	Footage
Investment Management Activity
CPA®:14 Investment	PW Eagle, Inc. (excess land)	West Jordan, UT	$	1,850	Jan-07	Land		N/A
Principal Activity
WPC LLC	Swiss-M-Tex, L.P.	Travelers Rest, SC		2,500	Apr-07	Industrial		181,700
WPC LLC	Folger Adam Security, Inc.	Lemont, IL		5,685	May-07	Industrial		113,133
				8,185				294,833
Total Principal Dispositions
Total Dispositions			$	10,035				294,833

(1)	Self-Storage properties denoted in net rentable square feet.
(2)	Includes a build-to-suit transaction. Gross Square Footage and Costs are estimates.

13

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Rent Contribution (Unaudited)
Based on Ongoing Rental Income
June 30, 2007

			Percentage of			Percentage of Adjusted
Top Ten Tenants/Lease Guarantors	Annualized Rent		Total Annualized Rent			Annualized Revenue(1)
Carrefour France, S.A.	$	9,283,862		9.4	%		3.0	%
Dr Pepper/Seven Up Bottling Group		4,683,737		4.7	%		1.5	%
Detroit Diesel Corporation		4,634,253		4.7	%		1.5	%
Bouygues Telecom, S.A.		4,363,014		4.4	%		1.4	%
Orbital Sciences Corporation		3,022,947		3.0	%		1.0	%
Federal Express Corporation		3,015,965		3.0	%		1.0	%
The Titan Corporation		2,862,068		2.9	%		0.9	%
America West Holdings Corporation		2,837,889		2.9	%		0.9	%
CheckFree Holdings, Inc.		2,357,753		2.4	%		0.8	%
AutoZone, Inc.		2,216,594		2.2	%		0.7	%
	$	39,278,082

(1) Revenues = revenue from continuing operations + revenue from discontinued operations + other interest income.

14

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Property Type (Unaudited)
June 30, 2007

Property Type	Square Footage (1)		Percent
Industrial		8,722,259		49.1	%
Warehouse/Distribution		5,303,419		29.8	%
Office		2,256,378		12.7	%
Retail		1,011,777		5.7	%
Other Properties (3)		326,866		1.8	%
Hospitality		158,000		0.9	%
Total (4)		17,778,699		100.0	%

Property Type	Annualized Rent (2)		Percent
Industrial	$	34,351,352		34.6	%
Office		31,672,788		31.9	%
Warehouse/Distribution		21,419,192		21.6	%
Other Properties (3)		5,483,067		5.5	%
Retail		5,141,425		5.2	%
Hospitality		1,200,000		1.2	%
Total (4)	$	99,267,824		100.0	%

(1)	Square footage for jointly owned properties shown on a pro rata basis.
(2)	Rents reflect current annualized rents on a pro rata basis.
(3)	Reflects land used for education, child care, and social services; health care; leisure, amusement, and recreation; unoccupied land.
(4)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of June 30, 2007.

15

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Tenant Industry (Unaudited)
June 30, 2007

	Annualized		Percentage of
Industry Type (1)	Rent		Rent (2)
Retail Stores	$	13,648,931		13.7	%
Business and Commercial Services		10,823,597		10.9	%
Telecommunications		10,559,920		10.6	%
Healthcare, Education and Childcare		8,112,620		8.2	%
Electronics		6,968,687		7.0	%
Beverages, Food, and Tobacco		5,367,975		5.4	%
Machinery		5,298,278		5.3	%
Aerospace and Defense		4,869,550		4.9	%
Forest Products and Paper		4,414,264		4.4	%
Consumer Non-durable Goods		3,134,632		3.2	%
Transportation — Cargo		3,015,965		3.0	%
Transportation — Personal		2,995,089		3.0	%
Construction and Building		2,529,149		2.5	%
Mining, Metals, and Primary Metal Industries		2,420,172		2.4	%
Insurance		2,215,729		2.2	%
Federal, State and Local Government		2,129,742		2.1	%
Consumer and Durable Goods		2,128,229		2.1	%
Media: Printing and Publishing		1,940,625		2.0	%
Chemicals, Plastics, Rubber, and Glass		1,735,221		1.7	%
Hotels and Gaming		1,209,000		1.2	%
Textiles, Leather, and Apparel		978,153		1.0	%
Leisure, Amusement, Entertainment		854,462		0.9	%
Other (3)		1,917,834		2.3	%
Total (4)	$	99,267,824		100.0	%

(1)	Based on the Moody’s Classification System and information provided by the tenant.
(2)	Rents reflect current annualized rents on a pro rata basis.
(3)	Reflects properties with tenants in the industries of grocery, banking, automobile, and buildings and real estate
(4)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of June 30, 2007.

16

W. P. CAREY & CO. LLC
Portfolio Diversification Analysis by Geography (Unaudited)
June 30, 2007

Region	Square Footage (1)		Percent
South		5,015,925		28.2	%
Midwest		4,870,408		27.4	%
East		3,627,317		20.4	%
West		2,321,016		13.1	%
Europe		1,944,033		10.9	%
Total (3)		17,778,699		100.0	%

Region	Annualized Rent (2)		Percent
South	$	28,656,467		28.9	%
West		21,200,111		21.4	%
Midwest		18,318,173		18.5	%
East		12,928,548		13.0	%
Europe		18,164,525		18.2	%
Total (3)		99,267,824		100.0	%

(1)	Square footage for jointly owned properties shown on a pro rata basis.
(2)	Rents reflect current annualized rents on a pro rata basis.
(3)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of June 30, 2007.

17

W. P. CAREY & CO. LLC
Portfolio Lease Maturity Analysis (Unaudited)
June 30, 2007

					Percentage of			Average
Year of Lease	Number		Annualized		Total Annualized			Years to
Expiration (1)	of Leases		Rents (2)		Rents			Maturity
2007		21		3,275,231		3.0	%		0.50
2008		15		4,560,366		5.0	%		1.50
2009		19		12,564,049		13.0	%		2.50
2010		44		17,650,477		18.0	%		3.50
2011		60		17,589,121		18.0	%		4.50
2012		22		7,718,488		8.0	%		5.50
2013		20		6,306,460		6.0	%		6.50
2014		7		9,235,546		9.0	%		7.50
2015		6		3,394,166		3.0	%		8.50
2016		15		1,652,870		2.0	%		9.50
2017		8		2,358,579		2.0	%		10.50
2018		3		3,161,852		3.0	%		11.50
2019		4		2,746,528		3.0	%		12.50
2020		1		4,634,253		5.0	%		13.50
2021		—		—		0.0	%		14.50
2022		3		1,472,138		1.0	%		15.50
2023		—		—		0.0	%		16.50
2024		—		—		0.0	%		17.50
2025		—		—		0.0	%		18.50
2026		4		947,700		1.0	%		19.50
Total (3)		252	$	99,267,824		100.0	%

Weighted Average Years to Maturity: 5.76

(1)	Assumes tenant does not exercise renewal option.
(2)	Month to month properties are counted in current year’s revenue stream.
(3)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of June 30, 2007.

18

W. P. CAREY & CO. LLC
Consolidated Balance Sheets (Unaudited)
(in thousands)

	June 30, 2007			December 31, 2006
				(NOTE)
Assets
Real estate, net	$	531,485		$	540,504
Net investment in direct financing leases		107,886			108,581
Equity investments in real estate		183,226			166,147
Operating real estate, net		72,049			33,606
Assets held for sale		—			1,269
Cash and cash equivalents		19,050			22,108
Due from affiliates		76,877			88,884
Goodwill		63,607			63,607
Intangible assets, net		40,116			43,742
Other assets, net		29,421			24,562
Total assets	$	1,123,717		$	1,093,010
Liabilities and Members’ Equity
Liabilities:
Limited recourse mortgage notes payable	$	258,663		$	261,152
Secured credit facility		35,581			15,501
Unsecured credit facility		28,000			2,000
Deferred revenue		—			40,490
Accounts payable and accrued expenses		32,549			34,047
Income taxes, net		64,744			63,462
Other liabilities		22,359			19,127
Distributions payable		18,227			17,481
Total liabilities		460,123			453,260
Minority interest in consolidated entities		7,609			7,765
Commitments and contingencies
Members’ equity:
Listed shares, no par value, 100,000,000 shares authorized; 39,129,982 and 38,262,157 shares issued and outstanding, respectively		751,508			745,969
Dividends in excess of accumulated earnings		(96,072	)		(114,008	)
Accumulated other comprehensive income		549			24
Total members’ equity		655,985			631,985
Total liabilities and members’ equity	$	1,123,717		$	1,093,010

Note: The consolidated balance sheet at December 31, 2006 has been derived from the audited consolidated financial statements at that date.

19

W. P. CAREY & CO. LLC
Consolidated Statements of Income (Unaudited)
(in thousands, except share and per share amounts)

	Three months ended June 30,						Six months ended June 30,
	2007			2006			2007			2006
Revenues
Asset management revenue	$	30,204		$	14,752		$	45,238		$	29,114
Structuring revenue		53,448			2,462			58,031			12,354
Reimbursed costs from affiliates		3,244			19,894			6,719			22,892
Lease revenues		19,998			18,285			39,630			36,412
Other real estate income		3,241			2,149			6,415			4,532
		110,135			57,542			156,033			105,304
Operating Expenses
General and administrative		(23,256	)		(9,871	)		(35,493	)		(21,029	)
Reimbursable costs		(3,244	)		(19,894	)		(6,719	)		(22,892	)
Depreciation and amortization		(6,950	)		(6,007	)		(13,894	)		(11,977	)
Property expenses		(1,893	)		(1,345	)		(3,313	)		(3,013	)
Other real estate expenses		(1,301	)		(1,466	)		(3,825	)		(3,033	)
		(36,644	)		(38,583	)		(63,244	)		(61,944	)
Other Income and Expenses
Other interest income		3,643			811			4,241			1,538
Income from equity investments in real estate		1,929			1,244			4,367			2,794
Minority interest in (income) loss		(3,141	)		254			(3,472	)		(608	)
Gain on sale of securities, foreign currency transactions and other gains, net		169			5,228			355			5,478
Interest expense		(5,669	)		(4,541	)		(10,532	)		(8,929	)
		(3,069	)		2,996			(5,041	)		273
Income from continuing operations before income taxes		70,422			21,955			87,748			43,633
Provision for income taxes		(31,144	)		(3,998	)		(37,522	)		(10,720	)
Income from continuing operations		39,278			17,957			50,226			32,913
Discontinued Operations
Income (loss) from operations of discontinued properties		1,790			(653	)		1,642			(1,187	)
Gain on sale of real estate, net		962			—			962			—
Impairment charges on assets held for sale		—			—			—			(3,357	)
Income (loss) from discontinued operations		2,752			(653	)		2,604			(4,544	)
Net Income	$	42,030		$	17,304		$	52,830		$	28,369
Basic Earnings (Loss) Per Share
Income from continuing operations	$	1.03		$	0.48		$	1.32		$	0.87
Income (loss) from discontinued operations		0.07			(0.02	)		0.07			(0.12	)
Net income	$	1.10		$	0.46		$	1.39		$	0.75
Diluted Earnings (Loss) Per Share
Income from continuing operations	$	1.03		$	0.46		$	1.30		$	0.85
Income (loss) from discontinued operations		0.07			(0.02	)		0.07			(0.12	)
Net income	$	1.10		$	0.44		$	1.37		$	0.73
Weighted Average Shares Outstanding
Basic		38,308,202			37,876,079			38,120,532			37,802,340
Diluted		40,004,379			39,346,537			39,894,412			38,794,914
Distributions Declared Per Share	$	0.467		$	0.454		$	0.929		$	0.906

20

W. P. CAREY & CO. LLC
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)

	Six months ended June 30,
	2007			2006
Cash Flows — Operating Activities
Net income	$	52,830		$	28,369
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization including intangible assets and deferred financing costs		14,509			12,625
Income from equity investments in real estate in excess of distributions received		(1,628	)		(202	)
Gains on sale of real estate and investments, net		(962	)		(4,800	)
Minority interest in income		3,472			608
Straight-line rent adjustments		1,421			1,612
Management income received in shares of affiliates		(31,728	)		(15,816	)
Unrealized gain on foreign currency transactions, warrants and securities		(313	)		(577	)
Impairment charges		—			3,357
Increase in income taxes, net		2,802			7
Realized gain on foreign currency transactions		(42	)		(101	)
Stock-based compensation expense		2,328			1,639
Decrease in deferred acquisition revenue receivable		16,164			12,543
Increase in structuring revenue receivable		(44,956	)		(3,039	)
Net changes in other operating assets and liabilities		(2,249	)		(660	)
Net cash provided by operating activities		11,648			35,565
Cash Flows — Investing Activities
Distributions received from equity investments in real estate in excess of equity income		21,716			3,106
Purchases of real estate and equity investments in real estate		(40,381	)		—
Capital expenditures		(7,361	)		(4,024	)
Loan to affiliate		—			(84,000	)
Proceeds from repayment of loan to affiliate		—			84,000
Proceeds from sales of property and investments		6,014			22,471
Funds placed in escrow in connection with the sale of property		(3,340	)		(9,163	)
Payment of deferred acquisition revenue to affiliate		(524	)		(524	)
Net cash (used in) provided by investing activities		(23,876	)		11,866
Cash Flows — Financing Activities
Distributions paid		(35,202	)		(34,356	)
Contributions from minority interests		688			1,161
Distributions to minority interests		(942	)		(5,075	)
Scheduled payments of mortgage principal		(7,719	)		(5,705	)
Proceeds from mortgages and credit facilities		118,617			55,000
Prepayments of mortgage principal and credit facilities		(68,257	)		(62,971	)
Release of funds from escrow in connection with the financing of properties		—			4,031
Payment of financing costs		(1,303	)		(472	)
Proceeds from issuance of shares		3,917			3,652
Excess tax benefits associated with stock-based compensation awards		1,335			271
Repurchase and retirement of shares		(2,038	)		(482	)
Net cash provided by (used in) financing activities		9,096			(44,946	)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash		74			94
Net (decrease) increase in cash and cash equivalents		(3,058	)		2,579
Cash and cash equivalents, beginning of period		22,108			13,014
Cash and cash equivalents, end of period	$	19,050		$	15,593

21

W. P. CAREY & CO. LLC
Detailed Property Summary (Unaudited)
June 30, 2007

	Percent			Property	Property	Tenant		Square		Annualized		Percentage of			Increase	Lease	Maximum
Tenant/Lease Guarantor	Ownership			Location	Type	Industry	Region	Footage		Rent		Total Rent			Factor	Expiration	Term
Carrefour France, SAS (1)		49.625	%	Crepy en Valois, France	Warehouse/Distribution	Retail Stores	Europe		274,774		1,994,959		2.01	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Colomiers, France	Warehouse/Distribution	Retail Stores	Europe		265,415		1,731,059		1.74	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		192,619		1,280,252		1.29	%	INSEE (2)	Nov-2012	Nov-2012
Carrefour France, SAS (1)		49.625	%	Lens, France	Warehouse/Distribution	Retail Stores	Europe		145,041		1,023,668		1.03	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Thuit Hebert, France	Warehouse/Distribution	Retail Stores	Europe		191,156		1,001,407		1.01	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Nîmes, France	Warehouse/Distribution	Retail Stores	Europe		149,608		871,813		0.88	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Ploufragan, France	Warehouse/Distribution	Retail Stores	Europe		132,820		742,808		0.75	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS (1)		49.625	%	Cholet, France	Warehouse/Distribution	Retail Stores	Europe		107,543		637,896		0.64	%	INSEE (2)	Dec-2011	Dec-2011
Carrefour France, SAS Total									1,458,976		9,283,862		9.35	%
Dr Pepper/Seven Up Bottling Group		100	%	Irving, TX	Industrial	Beverages, Food, and Tobacco	South		459,497		2,841,153		2.86	%	CPI	Jun-2014	Jun-2014
Dr Pepper/Seven Up Bottling Group		100	%	Houston, TX	Industrial	Beverages, Food, and Tobacco	South		262,450		1,842,584		1.86	%	CPI	Jun-2014	Jun-2014
Dr Pepper/Seven Up Bottling Group Total									721,947		4,683,737		4.72	%
Detroit Diesel Corporation		100	%	Detroit, MI	Industrial	Machinery	Midwest		2,730,750		4,634,253		4.67	%	PPI	Jun-2020	Jun-2030
Bouygues Telecom, S.A.(1)		75	%	Illkirch-Graffenstaden, France	Office	Telecommunications	Europe		80,729		2,712,626		2.73	%	INSEE (2)	Jul-2013	Jul-2013
Bouygues Telecom, S.A.(1)		95	%	Tours, France	Office	Telecommunications	Europe		102,237		1,650,388		1.66	%	INSEE (2)	Sep-2009	Sep-2009
Bouygues Telecom, S.A. Total									182,966		4,363,014		4.40	%
Orbital Sciences Corporation		100	%	Chandler, AZ	Industrial	Aerospace and Defense	West		335,307		3,022,947		3.05	%	CPI	Sep-2009	Sep-2029
Federal Express Corporation		40	%	Collierville, TN	Office	Transportation - Cargo	South		156,152		2,746,528		2.77	%	CPI	Aug-2019	Nov-2029
Federal Express Corporation (3)		40	%	Corpus Christi, TX	Warehouse/Distribution	Transportation - Cargo	South		30,212		201,037		0.20	%	Stated	N/A	May-2012
Federal Express Corporation		40	%	College Station, TX	Warehouse/Distribution	Transportation - Cargo	South		12,080		68,400		0.07	%	Stated	Apr-2012	Apr-2017
Federal Express Corporation Total									198,444		3,015,965		3.04	%
The Titan Corporation		100	%	San Diego, CA	Office	Electronics	West		166,403		2,862,068		2.88	%	CPI	Jul-2012	Jul-2017
America West Holdings Corporation		74.59	%	Tempe, AZ	Office	Transportation - Personal	West		167,913		2,837,889		2.86	%	CPI	Apr-2014	Nov-2029
CheckFree Holdings, Inc.		100	%	Norcross, GA	Office/Land	Business and Commercial Services	South		110,339		2,357,753		2.38	%	CPI	Dec-2015	Dec-2030
AutoZone, Inc.		100	%	Corpus Christi, TX	Retail	Retail Stores	South		13,080		102,418		0.10	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Stores	South		10,800		102,151		0.10	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	St. Peters, MO	Retail	Retail Stores	Midwest		12,060		97,675		0.10	%	% Sales	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Lake Charles, LA	Retail	Retail Stores	South		12,960		86,828		0.09	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Stores	South		5,400		55,795		0.06	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Albuquerque, NM	Retail	Retail Stores	West		5,400		54,642		0.06	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Houston, TX	Retail	Retail Stores	South		5,400		53,488		0.05	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Gastonia, NC	Retail	Retail Stores	East		5,400		52,149		0.05	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Lenoir, NC	Retail	Retail Stores	East		5,400		50,739		0.05	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Statesville, NC	Retail	Retail Stores	East		5,400		50,739		0.05	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Victoria, TX	Retail	Retail Stores	South		6,480		50,739		0.05	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Lexington, SC	Retail	Retail Stores	East		5,400		50,079		0.05	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Macon, GA	Retail	Retail Stores	South		5,400		49,503		0.05	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Decatur, AL	Retail	Retail Stores	South		5,400		44,620		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Phenix City, AL	Retail	Retail Stores	South		5,400		44,620		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Mobile, AL	Retail	Retail Stores	South		5,400		44,620		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Alton, IL	Retail	Retail Stores	Midwest		5,400		44,620		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Belleville, IL	Retail	Retail Stores	Midwest		5,400		44,620		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Breckenridge, MO	Retail	Retail Stores	Midwest		5,400		44,151		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Chickasaw, AL	Retail	Retail Stores	South		5,400		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Montgomery, AL	Retail	Retail Stores	South		5,400		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Columbus, GA	Retail	Retail Stores	South		5,400		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	West Monroe, LA	Retail	Retail Stores	South		5,400		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		5,400		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Maplewood, MO	Retail	Retail Stores	Midwest		6,480		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Overland, MO	Retail	Retail Stores	Midwest		6,480		43,414		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Albany, GA	Retail	Retail Stores	South		5,400		43,262		0.04	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Charlotte, NC	Retail	Retail Stores	East		5,400		42,283		0.04	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	San Antonio, TX	Retail	Retail Stores	South		5,400		42,283		0.04	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Farmington, NM	Retail	Retail Stores	West		5,400		41,479		0.04	%	% Sales	Aug-2013	Dec-2038

22

	Percent			Property	Property	Tenant		Square		Annualized		Percentage of			Increase	Lease	Maximum
Tenant/Lease Guarantor	Ownership			Location	Type	Industry	Region	Footage		Rent		Total Rent			Factor	Expiration	Term
AutoZone, Inc.		100	%	Hammond, LA	Retail	Retail Stores	South		6,480		40,121		0.04	%	% Sales	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Brunswick, GA	Retail	Retail Stores	South		5,400		39,854		0.04	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Waco, TX	Retail	Retail Stores	South		4,800		37,585		0.04	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Collinsville, IL	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Wood River, IL	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	St. Louis, MO	Retail	Retail Stores	Midwest		5,400		36,178		0.04	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Panama City, FL	Retail	Retail Stores	South		5,401		35,345		0.04	%	% Sales	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Jacksonville, FL	Retail	Retail Stores	South		5,000		34,867		0.04	%	% Sales	Aug-2012	Aug-2037
AutoZone, Inc.		100	%	Augusta, GA	Retail	Retail Stores	South		5,400		34,138		0.03	%	% Sales	Aug-2013	Dec-2038
AutoZone, Inc.		100	%	Bessemer, AL	Retail	Retail Stores	South		5,400		32,158		0.03	%	% Sales	Feb-2011	Feb-2026
AutoZone, Inc.		100	%	Austin, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Nederland, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	West Orange, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	% Sales	Jan-2011	Feb-2026
AutoZone, Inc.		100	%	Shelby, NC	Retail	Retail Stores	East		6,660		30,807		0.03	%	% Sales	Aug-2012	Dec-2037
AutoZone, Inc.		100	%	Kannapolis, NC	Retail	Retail Stores	East		6,408		24,069		0.02	%	% Sales	Oct-2010	Oct-2015
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		5,401		23,124		0.02	%	% Sales	Apr-2009	Apr-2009
AutoZone, Inc.		100	%	Knoxville, TN	Retail	Retail Stores	South		6,660		23,008		0.02	%	% Sales	May-2009	May-2014
AutoZone, Inc.		100	%	Baton Rouge, LA	Retail	Retail Stores	South		6,600		21,567		0.02	%	% Sales	Mar-2009	Mar-2014
AutoZone, Inc.		100	%	East Ridge, TN	Retail	Retail Stores	South		6,480		20,602		0.02	%	% Sales	Oct-2008	Oct-2013
AutoZone, Inc.		100	%	Morgantown, NC	Retail	Retail Stores	East		5,400		19,451		0.02	%	% Sales	Oct-2010	Oct-2010
AutoZone, Inc. Total									302,230		2,216,594		2.23	%
Semacs SA (1)		35	%	Sarcelles, France	Other	Healthcare, Education and Childcare	Europe		26,454		475,259		0.48	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA (1)		35	%	Paris, France	Other	Healthcare, Education and Childcare	Europe		18,927		403,522		0.41	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA (1)		35	%	Rueil Malmaison, France	Other	Healthcare, Education and Childcare	Europe		18,197		379,759		0.38	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA (1)		35	%	Poissy, France	Other	Healthcare, Education and Childcare	Europe		18,792		313,850		0.32	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA (1)		35	%	Chatou, France	Other	Healthcare, Education and Childcare	Europe		18,848		286,949		0.29	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA (1)		35	%	Rosny sous Bois, France	Other	Healthcare, Education and Childcare	Europe		16,693		265,876		0.27	%	INSEE (2)	Jun-2010	Jun-2010
Semacs SA Total									117,911		2,125,215		2.14	%
BellSouth Telecommunications		100	%	Lafayette, LA	Office	Telecommunications	South		66,846		1,351,150		1.36	%	Stated	Dec-2009	Dec-2039
BellSouth Entertainment, Inc.		100	%	Ft. Lauderdale, FL	Warehouse/Distribution	Telecommunications	South		80,450		593,664		0.60	%	Stated	Jun-2009	Jun-2019
BellSouth Corporation Total									147,296		1,944,814		1.96	%
Quebecor Printing USA		100	%	Doraville, GA	Industrial	Media: Printing and Publishing	South		432,559		1,940,625		1.95	%	CPI	Dec-2009	Dec-2034
Lucent Technologies, Inc.		100	%	Charlotte, NC	Industrial	Electronics	East		568,670		1,918,333		1.93	%	Fixed	Mar-2010	Mar-2016
Career Education Corporation		100	%	Mendota Heights, MN	Other	Healthcare, Education and Childcare	Midwest		136,400		1,892,831		1.91	%	Fixed	May-2011	May-2019
Information Resources, Inc.		33.33	%	Chicago, IL	Office	Business and Commercial Services	Midwest		53,195		1,179,801		1.19	%	CPI	Oct-2013	Oct-2015
Information Resources, Inc.		33.33	%	Chicago, IL	Office	Business and Commercial Services	Midwest		30,797		683,141		0.69	%	CPI	Oct-2013	Oct-2023
Information Resources, Inc. Total									83,992		1,862,942		1.88	%
Sybron Dental Specialties, Inc.		100	%	Romulus, MI	Industrial	Healthcare, Education and Childcare	Midwest		220,000		1,281,052		1.29	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc.		100	%	Glendora, CA	Office	Healthcare, Education and Childcare	West		25,000		489,246		0.49	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc. Total									245,000		1,770,298		1.78	%
Unisource Worldwide, Inc.		100	%	Commerce, CA	Warehouse/Distribution	Forest Products and Paper	West		411,561		1,422,080		1.43	%	Stated	Apr-2010	Apr-2030
Unisource Worldwide, Inc.		100	%	Anchorage, AK	Warehouse/Distribution	Forest Products and Paper	West		44,712		344,803		0.35	%	Stated	Dec-2009	Dec-2029
Unisource Worldwide, Inc. Total									456,273		1,766,883		1.78	%
Brodart Company		100	%	Williamsport, PA	Industrial	Consumer Non-durable Goods	East		521,240		1,720,686		1.73	%	CPI	Jun-2008	Jun-2028
Fiskars, Inc.		100	%	Apopka, FL	Industrial	Chemicals, Plastics, Rubber, and Glass	South		374,829		1,717,741		1.73	%	CPI	Mar-2010	Mar-2035
SICOR, Inc.		50	%	San Diego, CA	Office/Industrial	Healthcare, Education and Childcare	West		72,156		1,671,410		1.68	%	CPI	Jul-2009	Jul-2049
Pharmaco International, Inc.		100	%	Austin, TX	Office/Industrial & Warehouse/Distribution	Business and Commercial Services	South		173,436		1,614,865		1.63	%	CPI	Nov-2010	Nov-2030
Cleo, Inc.		100	%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		1,006,170		1,570,000		1.58	%	CPI	Dec-2010	Dec-2015
BE Aerospace, Inc.		100	%	Lenexa, KS	Industrial	Aerospace and Defense	Midwest		130,094		627,066		0.63	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Winston-Salem, NC	Office/Industrial & Warehouse/Distribution	Aerospace and Defense	East		274,216		761,588		0.77	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.		100	%	Dallas, TX	Industrial	Aerospace and Defense	South		22,680		119,441		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc. Total									426,990		1,508,095		1.52	%

23

	Percent			Property	Property	Tenant		Square		Annualized		Percentage of			Increase	Lease	Maximum
Tenant/Lease Guarantor	Ownership			Location	Type	Industry	Region	Footage		Rent		Total Rent			Factor	Expiration	Term
Sprint Spectrum, L.P.		100	%	Rio Rancho, NM	Office	Telecommunications	West		94,730		1,424,561		1.44	%	Fixed	May-2011	May-2021
Lowe’s Home Improvement Warehouse		100	%	Bellevue, WA	Retail	Construction and Building	West		143,352		1,391,554		1.40	%	CPI	Aug-2018	Aug-2018
Amerisure Mutual Insurance Co.		100	%	Charleston, SC	Office	Insurance	East		127,754		1,382,256		1.39	%	Fixed	Dec-2007	Dec-2028
AT&T Corporation		100	%	Bridgeton, MO	Industrial	Telecommunications	Midwest		85,510		1,257,410		1.27	%	Fixed	Sep-2011	Jun-2021
Radisson Hotels International, Inc.		100	%	Livonia, MI	Hospitality	Hotels and Gaming	Midwest		158,000		1,200,000		1.21	%	Fixed	N/A	N/A
Omnicom Group, Inc.		100	%	Venice, CA	Office	Business and Commercial Services	West		77,719		1,193,661		1.20	%	Other	Sep-2010	Sep-2030
United States Postal Service		100	%	Bloomingdale, IL	Office	Federal, State and Local Government	Midwest		60,000		1,170,000		1.18	%	Fixed	Apr-2011	Apr-2011
Hologic, Inc.		36	%	Bedford, MA	Industrial	Electronics	East		74,520		925,612		0.93	%	CPI	Aug-2022	Aug-2042
Hologic, Inc.		36	%	Danbury, CT	Industrial	Electronics	East		22,335		210,526		0.21	%	CPI	Aug-2022	Aug-2042
Hologic, Inc. Total									96,855		1,136,138		1.14	%
Anthony’s Manufacturing Company, Inc.		100	%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		182,845		1,091,816		1.10	%	CPI/Market	May-2012	May-2012
United Space Alliance LLC		100	%	Webster, TX	Warehouse/Distribution	Business and Commercial Services	South		91,800		572,832		0.58	%	None	Sep-2010	Sep-2012
United Space Alliance LLC		100	%	Webster, TX	Industrial	Business and Commercial Services	South		46,298		500,018		0.50	%	None	Sep-2010	Sep-2011
United Space Alliance LLC Total									138,098		1,072,850		1.08	%
Lockheed Martin Corporation		100	%	King of Prussia, PA	Office	Business and Commercial Services	East		88,578		819,347		0.83	%	Fixed	Jul-2008	Jul-2008
Lockheed Martin Corporation		100	%	Webster, TX	Industrial	Business and Commercial Services	South		30,176		241,416		0.24	%	Fixed	Dec-2007	Dec-2007
Lockheed Martin Corporation Total									118,754		1,060,763		1.07	%
Werner Co.		100	%	Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		572,204		1,036,413		1.04	%	Fixed	Jul-2015	Jul-2021
United Stationers Supply Company		100	%	New Orleans, LA	Warehouse/Distribution	Forest Products and Paper	South		59,000		366,539		0.37	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company		100	%	San Antonio, TX	Warehouse/Distribution	Forest Products and Paper	South		63,098		350,913		0.35	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company		100	%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		75,000		317,385		0.32	%	CPI	Mar-2010	Mar-2030
United Stationers Supply Company Total									197,098		1,034,837		1.04	%
Cree Microwave, LLC		100	%	Sunnyvale, CA	Industrial	Electronics	West		50,311		1,026,297		1.03	%	CPI	Nov-2011	Nov-2026
Swat-Fame, Inc.		100	%	City of Industry, CA	Industrial	Textiles, Leather, and Apparel	West		233,205		978,153		0.99	%	CPI	Dec-2010	Dec-2020
Sears logistics Services, Inc.		100	%	Jacksonville, FL	Warehouse/Distribution	Consumer Non-durable Goods	South		240,000		969,946		0.98	%	None	Feb-2008	Feb-2008
Consolidated Systems, Inc.		60	%	Columbia, SC	Warehouse/Distribution	Mining, Metals, and Primary Metal Industries	East		338,766		947,700		0.95	%	Fixed	Oct-2026	Oct-2046
Hibbett Sporting Goods, Inc.		100	%	Birmingham, AL	Warehouse/Distribution	Retail Stores	South		219,312		876,900		0.88	%	CPI	Dec-2014	Dec-2029
24 Hour Fitness		100	%	Austin, TX	Other	Leisure, Amusement, Entertainment	South		43,935		850,484		0.86	%	CPI	Jun-2017	Jun-2033
NVR, Inc.		100	%	Thurmont, MD	Industrial	Construction and Building	East		150,468		687,992		0.69	%	CPI	Mar-2014	Mar-2030
NVR, Inc.		100	%	Farmington, NY	Industrial	Construction and Building	East		29,273		132,805		0.13	%	CPI	Mar-2014	Mar-2030
NVR, Inc. Total									179,741		820,797		0.83	%
Vertafore, Inc.		100	%	College Station, TX	Office	Telecommunications	South		52,552		783,915		0.79	%	Fixed	Dec-2009	Dec-2015
						Mining, Metals, and Primary
Deloro Satellite Company, Inc.		100	%	Goshen, IN	Industrial	Metal Industries	Midwest		52,000		643,069		0.65	%	CPI	Feb-2010	Feb-2035
Western Union Financial Services, Inc.		100	%	Bridgeton, MO	Office	Banking	Midwest		78,080		624,640		0.63	%	Fixed	Nov-2016	Nov-2026
Aviva (1)		75	%	Rouen, France	Office	Insurance	Europe		27,593		617,188		0.62	%	INSEE (2)	Sep-2010	Sep-2010
Wal-Mart Stores, Inc.		100	%	Greenfield, IN	Warehouse/Distribution	Retail Stores	Midwest		82,620		567,745		0.57	%	None	Jan-2010	Jan-2020
MSC Engineered Materials and Solutions Group, Inc.		100	%	Walbridge, OH	Industrial	Mining, Metals, and Primary Metal Industries	Midwest		313,704		560,513		0.56	%	CPI	Apr-2012	Apr-2027
Childtime Childcare, Inc.		33.93	%	Westland, MI	Other Properties	Healthcare, Education and Childcare	Midwest		5,259		60,959		0.06	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Alhambra, CA	Other Properties	Healthcare, Education and Childcare	West		2,262		53,011		0.05	%	CPI	Jan-2016	Jan-2041

24

	Percent			Property	Property	Tenant		Square		Annualized		Percentage of			Increase	Lease	Maximum
Tenant/Lease Guarantor	Ownership			Location	Type	Industry	Region	Footage		Rent		Total Rent			Factor	Expiration	Term
Childtime Childcare, Inc.		33.93	%	Tustin, CA	Other Properties	Healthcare, Education and Childcare	West		2,264		52,598		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Canton, MI	Other Properties	Healthcare, Education and Childcare	Midwest		2,311		47,797		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Chino, CA	Other Properties	Healthcare, Education and Childcare	West		2,166		46,300		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Carrollton, TX	Other Properties	Healthcare, Education and Childcare	South		2,438		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Duncanville, TX	Other Properties	Healthcare, Education and Childcare	South		2,438		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Lewisville, TX	Other Properties	Healthcare, Education and Childcare	South		2,440		45,991		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Garden Grove, CA	Other Properties	Healthcare, Education and Childcare	West		2,848		45,526		0.05	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Tucson, AZ	Other Properties	Healthcare, Education and Childcare	West		2,165		36,751		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc.		33.93	%	Chandler, AZ	Other Properties	Healthcare, Education and Childcare	West		2,026		35,254		0.04	%	CPI	Jan-2016	Jan-2041
Childtime Childcare, Inc. Total									28,617		516,169		0.52	%
Alcoa, Inc.		100	%	Salisbury, NC	Warehouse/Distribution	Machinery	East		200,000		483,082		0.49	%	Fixed	Jun-2010	Jun-2020
Jada Toys, Inc.		100	%	City of Industry, CA	Industrial	Consumer Non-durable Goods	West		92,595		444,000		0.45	%	Fixed	Apr-2012	Apr-2017
Alstom Power Inc.		100	%	Erlanger, KY	Warehouse/Distribution	Business and Commercial Services	East		197,400		443,370		0.45	%	Fixed	May-2013	May-2013
Affiliated Foods Southwest, Inc.		100	%	Little Rock, AR	Retail	Grocery	South		64,358		295,611		0.30	%	Fixed	Jan-2009	Jan-2024
Affiliated Foods Southwest, Inc.		100	%	Hope, AR	Retail	Grocery	South		35,784		75,144		0.08	%	CPI	Mar-2012	Mar-2037
Affiliated Foods Southwest, Inc.		100	%	Little Rock, AR	Retail	Grocery	South		21,932		34,745		0.04	%	CPI	Mar-2012	Mar-2022
Affiliated Foods Southwest, Inc. Total									122,074		405,500		0.41	%
Kmart Corporation		100	%	Drayton Plains, MI	Retail	Retail Stores	Midwest		103,018		210,000		0.21	%	None	Mar-2011	Mar-2026
Kmart Corporation		100	%	Citrus Heights, CA	Retail	Retail Stores	West		89,760		180,000		0.18	%	None	May-2011	May-2026
Kmart Corporation Total									192,778		390,000		0.39	%
The Retail Distribution Group		40	%	Grand Rapids, MI	Warehouse/Distribution	Beverages, Food, and Tobacco	Midwest		71,784		383,040		0.39	%	Fixed	Aug-2009	Aug-2013
Petrocon Engineering, Inc.		100	%	Beaumont, TX	Office	Business and Commercial Services	South		42,880		370,569		0.37	%	Fixed	Dec-2011	Dec-2014
Pioneer Credit Recovery, Inc.		100	%	Moorestown, NJ	Office	Business and Commercial Services	East		30,000		345,000		0.35	%	Fixed	Apr-2012	Apr-2018
Faurecia Exhaust Systems, Inc.		100	%	Toledo, OH	Office	Automobile	Midwest		61,000		336,000		0.34	%	CPI	Nov-2022	Nov-2022
DSM Food Specialties (1)		80	%	Phalempin, France	Warehouse/Distribution	Beverages, Food, and Tobacco	Europe		29,870		301,198		0.30	%	INSEE (2)	May-2008	May-2008
Direction Regional des Affaires Sanitaires et Sociales (DRASS) (1)		75	%	Rouen, France	Office	Federal, State and Local Government	Europe		19,213		300,126		0.30	%	INSEE (2)	Dec-2013	Dec-2013
S&ME, Inc.		100	%	Raleigh, NC	Office	Business and Commercial Services	East		27,770		299,940		0.30	%	Fixed	Jul-2016	Jul-2026
The Roof Center, Inc.		100	%	Manassas, VA	Industrial	Construction and Building	East		60,446		285,115		0.29	%	Fixed	Jul-2009	Jul-2009
Qwest Communications, Inc.		100	%	Scottsdale, AZ	Industrial	Telecommunications	West		4,460		274,304		0.28	%	Fixed	Feb-2012	Feb-2017
Winn-Dixie, Inc.		100	%	Montgomery, AL	Retail	Grocery	South		32,690		138,933		0.14	%	None	Mar-2008	Mar-2038
Winn-Dixie, Inc.		100	%	Brewton, AL	Retail	Grocery	South		30,625		134,500		0.14	%	None	Oct-2010	Oct-2030
Winn-Dixie, Inc. Total									63,315		273,433		0.28	%
Penberthy, Inc.		100	%	Prophetstown, IL	Industrial	Mining, Metals, and Primary Metal Industries	Midwest		161,878		268,890		0.27	%	CPI	Apr-2011	Apr-2026
Department de Seine St. Denis (1)		75	%	Paris, France	Office	Federal, State and Local Government	Europe		8,451		266,663		0.27	%	INSEE (2)	Dec-2011	Dec-2011
Honeywell, Inc.		100	%	Houston, TX	Warehouse/Distribution	Aerospace and Defense	South		32,320		228,828		0.23	%	None	Sep-2010	Sep-2010
Honeywell, Inc.		100	%	Houston, TX	Land	Aerospace and Defense	South		1		36,000		0.04	%	None	Sep-2010	Sep-2010
Honeywell, Inc. Total									32,321		264,828		0.27	%
SARL S3T (1)		80	%	Joue Les Tours, France	Warehouse/Distribution	Telecommunications	Europe		55,594		262,353		0.26	%	INSEE (2)	May-2008	May-2008
Tubular Metal Systems		100	%	Pinconning, MI	Industrial	Automobile	Midwest		220,588		254,538		0.26	%	CPI	Jul-2013	Dec-2022
La Region Ile de France (1)		75	%	Paris, France	Office	Federal, State and Local Government	Europe		7,613		227,146		0.23	%	INSEE (2)	Oct-2012	Oct-2012
GIE Groupe Vauban (1)		75	%	Paris, France	Office	Insurance	Europe		7,613		216,285		0.22	%	INSEE (2)	Sep-2012	Sep-2012
Ace Hardware		100	%	Houston, TX	Retail	Retail Stores	South		23,569		212,121		0.21	%	Fixed	Mar-2016	Mar-2026
Bell Atlantic Corporation		100	%	Milton, VT	Industrial	Telecommunications	East		30,624		208,467		0.21	%	Fixed	Feb-2013	Feb-2013

25

Percent

Property

Property

Tenant

Square

Annualized

Percentage of

Increase

Lease

Maximum

Tenant/Lease Guarantor

Ownership

Location

Type

Industry

Region

Footage

Rent

Total Rent

Factor

Expiration

Term

Multiple (3) (4)

Broomfield, CO

Office

Various

West

50,790

179,761

0.18

%

Various

Various

Various

Xerox Corporation

100

%

Hot Springs, AR

Retail

Machinery

South

36,850

176,143

0.18

%

Fixed

May-2011

May-2021

Continental Airlines, Inc.

100

%

Houston, TX

Warehouse/Distribution

Transportation - Personal

South

25,125

157,200

0.16

%

Fixed

Jul-2008

Jul-2008

Golder Associates Inc.

100

%

Houston, TX

Office

Business and Commercial Services

South

11,396

103,368

0.10

%

Fixed

Oct-2010

Oct-2020

L’Agence Nationale Pour L’Emploi (ANPE) (1) (3)

75

%

Paris, France

Office

Federal, State and Local Government

Europe

3,633

83,971

0.08

%

INSEE (2)

N/A

Jun-2015

The Boeing Company

100

%

Houston, TX

Warehouse/Distribution

Aerospace and Defense

South

10,960

73,680

0.07

%

Fixed

Jan-2009

Jan-2013

Bike Barn Holding Company, Inc.

100

%

Houston, TX

Retail

Retail Stores

South

6,216

71,280

0.07

%

Fixed

Aug-2010

Aug-2015

AFPOLS (1)

75

%

Paris, France

Office

Federal, State and Local Government

Europe

3,488

70,802

0.07

%

INSEE (2)

Jun-2008

Jun-2008

Kenyon International Emergency Services

100

%

Houston, TX

Warehouse/Distribution

Health Care and Social Assistance

South

17,725

70,014

0.07

%

None

Oct-2009

Oct-2019

Raytheon Company

100

%

Webster, TX

Industrial

Business and Commercial Services

South

9,138

65,796

0.07

%

Fixed

Jul-2010

Jul-2025

Custom Training Group

100

%

Houston, TX

Office

Healthcare, Education and Childcare

South

7,248

58,200

0.06

%

Fixed

Dec-2008

Dec-2011

Olmsted Kirk Paper Company

100

%

Beaumont, TX

Office

Forest Products and Paper

South

5,760

42,544

0.04

%

Fixed

Dec-2007

Dec-2007

CGEC Keter (1)

75

%

Paris, France

Office

Buildings and Real Estate

Europe

2,301

16,223

0.02

%

INSEE (2)

Dec-2014

Dec-2014

Abilis (1)

75

%

Paris, France

Office

Business and Commercial Services

Europe

0

11,079

0.01

%

INSEE (2)

Jan-2008

Jan-2008

Ass Comite Dept du Tourisme (1) (3)

75

%

Paris, France

Office

Federal, State and Local Government

Europe

0

11,034

0.01

%

INSEE (2)

N/A

N/A

Classic Cuisines Catering

100

%

Bloomingdale, IL

Office

Hotels and Gaming

Midwest

1,000

9,000

0.01

%

None

Oct-2008

Oct-2008

Orange (1)

75

%

Paris, France

Office

Telecommunications

Europe

0

8,366

0.01

%

None

Jan-2010

Jun-2015

Photo Center (3)

100

%

Hot Springs, AR

Retail

Machinery

South

340

4,800

0.00

%

None

N/A

N/A

Vacant

100

%

Bloomingdale, IL

Office

N/A

Midwest

55,000

—

—

N/A

N/A

N/A

Vacant

100

%

Broomfield, CO

Office

N/A

West

53,665

—

—

N/A

N/A

N/A

Vacant

100

%

Chattanooga, TN

Industrial

N/A

South

242,317

—

—

N/A

N/A

N/A

Vacant

100

%

Houston, TX

Office

N/A

South

30,996

—

—

N/A

N/A

N/A

Vacant

100

%

Moorestown, NJ

Office

N/A

East

35,567

—

—

N/A

N/A

N/A

Vacant

75

%

Paris, France

Office

N/A

Europe

18,811

—

—

N/A

N/A

N/A

Vacant

100

%

Salisbury, NC

Various

N/A

East

110,965

—

—

N/A

N/A

N/A

Vacant

100

%

San Leandro, CA

Land

N/A

West

1

—

—

N/A

N/A

N/A

Vacant

100

%

Webster, TX

Industrial

N/A

South

22,966

—

—

N/A

N/A

N/A

Vacant

100

%

West Mifflin, PA

Retail

N/A

East

121,053

—

—

N/A

N/A

N/A

Vacant Total

691,341

Grand Total (5)

17,778,699

$

99,267,824

100

%

(1)	Rents reflect a conversion rate of 1.3475 USD/EUR as of June 30, 2007.
(2)	INSEE construction index, an index published quarterly by the French Government.
(3)	Tenant is occupying property on a month-to-month (MTM) basis.
(4)	Represents multi-tenant office building with lease expirations ranging from MTM to Jun. 2011.
(5)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of June 30, 2007.

26