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): November 2, 2007

W. P. Carey & Co. LLC

(Exact name of registrant as specified in its charter)

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

TABLE OF CONTENTS

	ITEM 7.01 Regulation FD Disclosure.
	ITEM 9.01 Financial Statements and Exhibits.
	SIGNATURES
EX-99.1: SUPPLEMENTAL OPERATING AND FINANCIAL DATA

ITEM 7.01 Regulation FD Disclosure.

On November 9, 2007, the registrant made available supplemental information, the “Supplemental Operating and Financial Data”, concerning its operations and portfolio as of September 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 September 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: November 9, 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

Three and Nine Months ended
September 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

Three and Nine Months Ended September 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
September 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
JPMorgan Chase Bank, N.A.	Syndication Agent
PNC Bank, N.A.	Syndication Agent

	Third		Second		First		Fourth
	Quarter		Quarter		Quarter		Quarter
	2007		2007		2007		2006
Stock Data
High Price	$	33.14	$	35.50	$	34.75	$	31.00
Low Price	$	27.67	$	29.71	$	29.84	$	27.50
Closing Price	$	31.50	$	31.45	$	33.37	$	30.07
Distributions per share — annualized	$	1.888	$	1.868	$	1.848	$	1.832
Shares outstanding at quarter end		38,583,229		39,129,982		38,442,298		38,262,157
Market value of outstanding shares at quarter end (in thousands)	$	1,215,372	$	1,230,638	$	1,282,819	$	1,150,543

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.

	Three months ended				Nine months ended
	September 30,				September 30,
	2007		2006		2007			2006
EBITDA
Investment management	$	19,961	$	13,989	$	95,051		$	40,729
Real estate ownership		17,454		16,446		57,105			49,835
Total	$	37,415	$	30,435	$	152,156		$	90,564
FFO
Investment management	$	17,040	$	9,903	$	83,450		$	29,772
Real estate ownership		15,184		13,370		46,905			43,882
Total	$	32,224	$	23,273	$	130,355		$	73,654
EBITDA Per Share (Diluted)
Investment management	$	0.50	$	0.35	$	2.39		$	1.04
Real estate ownership		0.44		0.42		1.44			1.27
Total	$	0.94	$	0.77	$	3.83		$	2.31
FFO Per Share (Diluted)
Investment management	$	0.43	$	0.25	$	2.10		$	0.76
Real estate ownership		0.38		0.34		1.18			1.12
Total	$	0.81	$	0.59	$	3.28		$	1.88
Adjusted Cash Flow From Operating Activities
Adjusted cash flow					$	68,098		$	59,053
Adjusted cash flow per share (diluted)					$	1.71		$	1.51
Distributions paid					$	53,432		$	51,590
Payout ratio (distributions paid/adjusted cash flow)						78	%		87	%

5

W. P. CAREY & CO. LLC

Reconciliation of Net Income to EBITDA (Unaudited)

(in thousands, except share and per share amounts)

	Three months ended September 30,					Nine months ended September 30,
	2007			2006		2007			2006
Investment Management
Net income	$	12,685		$	7,002	$	49,174		$	20,394
Adjustments:
Provision for income taxes		11,171			5,509		47,685			15,937
Depreciation and amortization(1)		(3,895	)		1,478		(1,808	)		4,398
EBITDA — investment management	$	19,961		$	13,989	$	95,051		$	40,729
EBITDA per share (diluted)	$	0.50		$	0.35	$	2.39		$	1.04
Real Estate Ownership
Net income	$	7,724		$	7,303	$	24,065		$	22,280
Adjustments:
Interest expense		5,618			4,395		16,150			13,324
Provision for income taxes		348			71		1,356			363
Depreciation and amortization(1)		3,606			4,434		15,308			13,386
Reconciling items attributable to discontinued operations		158			243		226			482
EBITDA — real estate ownership	$	17,454		$	16,446	$	57,105		$	49,835
EBITDA per share (diluted)	$	0.44		$	0.42	$	1.44		$	1.27
Total Company
EBITDA	$	37,415		$	30,435	$	152,156		$	90,564
EBITDA per share (diluted)	$	0.94		$	0.77	$	3.83		$	2.31
Diluted weighted average shares outstanding		39,601,853			39,303,948		39,718,522			39,215,134

(1)  Includes adjustments to amortization as described in W. P. Carey & Co. LLC’s 10Q for the period ended September 30, 2007.

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)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Investment Management
Net income	$	12,685		$	7,002		$	49,174		$	20,394
Amortization, deferred taxes and other non-cash charges		7,114			2,496			32,660			5,443
FFO from equity investments		(2,759	)		405			1,616			3,935
FFO — investment management	$	17,040		$	9,903		$	83,450		$	29,772
FFO per share (diluted)	$	0.43		$	0.25		$	2.10		$	0.76
Real Estate Ownership
Net income	$	7,724		$	7,303		$	24,065		$	22,280
Loss (gain) on sale of real estate, net		—			185			(962	)		185
Depreciation, amortization and other non-cash charges		4,228			4,033			15,343			12,602
Straight-line and other rent adjustments		660			786			2,116			2,343
Impairment charges		2,317			—			2,317			3,357
FFO from equity investments		464			1,241			4,650			3,711
Minority investees share of FFO		(209	)		(178	)		(624	)		(596	)
FFO — real estate ownership	$	15,184		$	13,370		$	46,905		$	43,882
FFO per share (diluted)	$	0.38		$	0.34		$	1.18		$	1.12
Total Company
FFO	$	32,224		$	23,273		$	130,355		$	73,654
FFO per share (diluted)	$	0.81		$	0.59		$	3.28		$	1.88
Diluted weighted average shares outstanding		39,601,853			39,303,948			39,718,522			39,215,134

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)

	Nine months ended September 30,
	2007			2006
Cash flow from operating activities — as reported	$	24,893		$	48,860
Adjustments:
CPA®:16 – Global performance adjustment, net (1)		9,425			3,493
CPA®:12/14 Merger – payment of taxes (2)		20,708			—
Distributions received from equity investments in real estate in excess of equity income (3)		8,077			4,669
Changes in working capital (2)		4,995			2,031
Adjusted cash flow from operating activities	$	68,098		$	59,053
Distributions paid	$	53,432		$	51,590
Payout ratio (distributions paid/adjusted cash flow)		78	%		87	%

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 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 that 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 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 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)

	Nine months ended September 30,									Years ended December 31,
	2007			2006			2005			2006			2005
Revenue from Investment Management
Asset management revenue	$	63,886		$	43,478		$	38,890		$	57,633		$	52,332
Structuring revenue		67,809			15,788			25,422			22,506			28,197
Incentive, termination and subordinated disposition revenue from mergers		—			—			—			46,018			—
Other interest income		4,974			2,079			2,359			2,853			3,176
Revenue of other business operations		—			—			55			—			372
Total management services revenue	$	136,669		$	61,345		$	66,726		$	129,010		$	84,077
Percentage of total adjusted revenue		65	%		49	%		51	%		60	%		49	%
Revenue from Real Estate Ownership
Lease revenue — continuing operations	$	59,112		$	54,157		$	50,634		$	74,090		$	67,215
Revenue of discontinued operations		2,868			2,123			4,645			1,191			8,926
Other real estate income		10,574			7,046			8,384			9,381			10,706
Other interest income		554			290			178			580			335
Total real estate revenue	$	73,108		$	63,616		$	63,841		$	85,242		$	87,182
Percentage of total adjusted revenue		35	%		51	%		49	%		40	%		51	%
Reconciliation of Total Revenue
Total revenue — as reported	$	211,522		$	157,123		$	130,558		$	273,258		$	168,784
Less: Reimbursed costs from affiliates(1)		(10,141	)		(36,654	)		(7,173	)		(63,630	)		(9,962	)
Add: Other interest income		5,528			2,369			2,537			3,433			3,511
Add: Revenue of discontinued operations		2,868			2,123			4,645			1,191			8,926
Total Adjusted Revenue	$	209,777		$	124,961		$	130,567		$	214,252		$	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)

	Nine months ended September 30,															Years ended December 31,
	2007					2006					2005					2006					2005
2007	Revenue		%			Revenue		%			Revenue		%			Revenue		%			Revenue		%
Revenue Type
Rents (1)	$	62,534				$	56,570				$	55,457				$	75,861				$	76,476
Management revenue (2) (5)		68,860					45,557					41,249					60,486					55,508
Rents and Management Revenue		131,394		63	%		102,127		82	%		96,706		74	%		136,347		64	%		131,984		77	%
Structuring revenue (3) (5)		67,809					15,788					25,422					22,506					28,197
Disposition / termination revenue (4)		—					—					—					46,018					—
Other real estate income (lease terminations and other settlements)		10,574					7,046					8,439					9,381					11,078
Structuring Revenue & Other Income		78,383		37	%		22,834		18	%		33,861		26	%		77,905		36	%		39,275		23	%
Total	$	209,777		100	%	$	124,961		100	%	$	130,567		100	%	$	214,252		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)	Management revenue for 2007 includes $16,494 in performance revenue earned in June 2007 as a result of CPA®:16 – Global meeting its performance criterion. Structuring revenue for 2007 includes $38,505 in deferred structuring revenue also earned as a result of CPA®:16 – Global meeting its performance criterion.

10

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

						Outstanding
Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Balance
Amerisure Insurance (Michigan Mutual)	Fixed		8.80	%	Dec-2007	$	9,518,389
Self-Storage Credit Facility	Variable		7.86	%	Dec-2008		35,581,000
Billipp Portfolio	Variable		5.92	%	Dec-2008		5,000,005
Orbital Sciences Corporation	Fixed		7.38	%	Jun-2009		12,632,368
America West Holdings Corporation (74.58%)	Fixed		7.23	%	Aug-2009		15,733,000
Retail Distribution Group (40%)	Fixed		8.51	%	Sep-2009		2,216,037
Bell South Telecommunications	Fixed		8.11	%	Jan-2010		3,540,973
Hibbett Sports	Fixed		7.50	%	Apr-2010		4,663,504
Detroit Diesel Corporation	Fixed		7.96	%	Jun-2010		6,980,389
Federal Express Corporation (40%)	Fixed		7.50	%	Jan-2011		16,618,917
Autozone- Series A	Fixed		6.85	%	Jan-2011		1,541,536
Childtime Childcare, Inc. (33.93%)	Fixed		7.50	%	Jan-2011		2,282,548
Information Resources, Inc. (33.33%)	Fixed		7.60	%	Jan-2011		7,670,206
Pioneer Credit Recovery, Inc.	Fixed		7.34	%	Jan-2011		5,578,708
Autozone, Inc. — Series B	Fixed		6.85	%	Feb-2011		2,406,055
Brown/Career Education	Fixed		7.58	%	Jun-2011		6,942,934
24 Hour Fitness (Austin)	Fixed		7.50	%	Aug-2011		2,974,205
Sprint Spectrum, LP	Fixed		7.64	%	Aug-2011		8,241,822
Qwest Communications, Inc.	Fixed		7.50	%	Jun-2012		1,486,464
Autozone- Series C	Fixed		6.85	%	Aug-2012		985,515
BE Aerospace, Inc.	Fixed		6.11	%	Nov-2012		8,640,546
Faurecia (AP Parts)	Fixed		5.16	%	Nov-2012		2,577,552
Anthony, Inc. Industry	Fixed		5.11	%	Nov-2012		8,944,150
Alstom & Werner	Fixed		5.18	%	Dec-2012		10,378,849
SAS Pantin Invest France (75%) (1)	Variable		4.54	%	Jul-2013		8,661,405
Autozone- Series D	Fixed		6.85	%	Aug-2013		2,525,786
Aviva France (fka Tellit Assurances -SA) (75%) (1)	Variable		4.49	%	Aug-2013		2,545,631
Direction Regional des Affaires Sanitaires et Sociales (75%) (1)	Variable		4.60	%	Aug-2013		928,094
DSM Food Specialties (aka SAS Immo Invest) (80%) (1)	Variable		4.56	%	May-2014		1,103,563
Carrefour France, SAS (45.806%) (1)	Variable		5.50	%	Dec-2014		58,248,723
Lowe’s Home Improvement Warehouse	Fixed		4.87	%	Sep-2015		9,520,680
Bouygues Telecom, S.A. (Tours) (95%) (1)	Variable		3.86	%	Oct-2015		8,482,823
Dr. Pepper	Fixed		5.13	%	Nov-2015		32,707,521
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		15,613,199

11

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

						Outstanding
Tenant/Lease Guarantor / Percent Ownership	Rate Type	Interest Rate			Maturity Date	Balance
Consolidated Systems (60%)	Fixed		5.87	%	Nov-2016	$	7,129,621
Western Union	Fixed		5.50	%	Jan-2017		6,000,000
Hellweg II (5%) (1)	Fixed		5.49	%	Jan-2017		15,232,790
SICOR, Inc. (50%)	Fixed		6.20	%	Jul-2017		17,675,000
Medica France, SA (45.8%) (1)	Fixed		5.63	%	Oct-2017		20,166,599
SARL S3T (80%) (1)	Variable		5.35	%	Mar-2022		2,580,092
SARL S3T Construction Loan (80%) (1)	Variable		5.35	%	Feb-2023		3,248,942
Hologic, Inc. (36%)	Fixed		6.40	%	May-2023		5,870,092
Total Limited Recourse Debt			6.24%	(2)		$	416,376,233
LLC Credit Facility	Variable		6.16	%	Jun-2011	$	58,700,000
Total Debt			6.23%	(2)		$	475,076,233
Fixed rate debt						$	274,382,756
Floating rate debt						$	200,693,477

(1)	Debt balance calculated using an exchange rate of $1.4272/EUR at September 30, 2007.
(2)	Reflects weighted average interest rate for the applicable debt.

12

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

	Tenant/Lease	Property	Purchase Price				Gross Square
Portfolio(s)	Guarantor	Location(s)	(000s)		Closing Date	Property Type	Footage
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.(1)	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
CPA®:16 — Global	International Aluminum Corporation	Arizona, California, Illinois, South Carolina, Texas		54,555	Jun-07	Warehouse/Distribution		757,266
CPA®:16 — Global	Mountain City Meat Company	Denver, CO		8,613	Jun-07	Industrial		63,773
CPA®:16 — Global	SoHo House (2)	Miami, FL		75,952	Jun-07	Hospitality	BTS
CPA®:16 — Global	Mountain City Meat Company	Nashville, TN		9,424	Jul-07	Industrial		184,727
CPA®:16 — Global	UTI	Sacramento, CA		42,674	Jul-07	Industrial		245,382
CPA® :16 — Global	International Aluminum Corporation	Guelph, ON and Langley, BC (Canada)		8,272	Jul-07	Warehouse/Distribution		132,486
CPA®:16 — Global	Sheplers, Inc.	Wichita, KS		11,621	Jul-07	Retail		257,038
CPA®:16 — Global	Voit Holding GmbH	St. Ingbert, Germany		31,076	Aug-07	Industrial		312,218
CPA®:15, 16 — Global	Schuler A.G.	Goppingen, Germany		73,817	Sep-07	Industrial		248,620
CPA®:16 — Global	Doubletree Hotel	Memphis, TN		37,578	Sep-07	Hospitality		42,500
Total Investment Management Acquisitions				950,103				7,146,299
Principal Activity
Self-Storage Investments	Multiple	Multiple (domestic)		34,979	Various	Other Properties		552,594	(2)
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			$	1,001,881				7,698,893
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
CPA®:15	Courtyard by Marriott (3)	Las Vegas, NV		43,500	Aug-07	Hospitality		79,720
				45,350				79,720
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
Total Principal Dispositions				8,185				294,833
Total Dispositions			$	53,535				374,553

(1)	Includes a build-to-suit transaction. Gross Square Footage and Costs are estimates.
(2)	Self-Storage properties denoted in net rentable square feet.
(3)	Gross sales price and square footage figures include third party interest of 52.65%.

13

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

						Percentage of
						Adjusted
			Percentage of			Annualized
			Total Annualized			Revenue
Top Ten Tenants/Lease Guarantors	Annualized Rent		Rent			(1)
Carrefour France, S.A.	$	9,076,292		8.98	%		3.2	%
Dr Pepper Bottling Company of Texas		4,746,519		4.70	%		1.7	%
Bouygues Telecom, S.A.		4,713,072		4.67	%		1.7	%
Detroit Diesel Corporation		4,634,253		4.59	%		1.7	%
Semacs S.A.		3,109,539		3.08	%		1.1	%
Federal Express Corporation		3,046,177		3.02	%		1.1	%
Orbital Sciences Corporation		3,022,947		2.99	%		1.1	%
US Airways Group		2,837,889		2.81	%		1.0	%
Titan Corporation		2,706,799		2.68	%		1.0	%
CheckFree Holdings Corporation Inc.		2,357,753		2.33	%		0.8	%
	$	40,251,240

⁽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)

September 30, 2007

Property Type	Square Footage(1)		Percent
Industrial		8,722,259		49.3	%
Warehouse/Distribution		5,191,149		29.3	%
Office		2,256,378		12.7	%
Retail		1,011,777		5.7	%
Other Properties (3)		363,271		2.1	%
Hospitality		158,000		0.9	%
Total (4)		17,702,834		100.0	%

Property Type	Annualized Rent(2)		Percent
Industrial	$	34,455,610		34.1	%
Office		32,240,795		31.9	%
Warehouse/Distribution		21,452,355		21.2	%
Other Properties (3)		6,489,414		6.4	%
Retail		5,190,283		5.2	%
Hospitality		1,200,000		1.2	%
Total (4)	$	101,028,457		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 September 30, 2007.

15

W. P. CAREY & CO. LLC

Portfolio Diversification Analysis by Tenant Industry (Unaudited)

September 30, 2007

	Annualized		Percentage of
Industry Type(1)	Rent		Rent(2)
Retail Stores	$	13,442,179		13.3	%
Telecommunications		11,032,562		10.9	%
Business and Commercial Services		10,966,027		10.9	%
Healthcare, Education and Childcare		9,144,156		9.1	%
Electronics		6,813,418		6.7	%
Beverages, Food, and Tobacco		5,448,572		5.4	%
Automobile		5,232,291		5.2	%
Aerospace and Defense		4,869,550		4.8	%
Forest Products and Paper		4,414,264		4.4	%
Consumer Non-durable Goods		3,134,632		3.1	%
Transportation — Cargo		3,083,377		3.1	%
Transportation — Personal		2,995,089		3.0	%
Construction and Building		2,580,003		2.6	%
Mining, Metals, and Primary Metal Industries		2,420,172		2.4	%
Insurance		2,268,894		2.2	%
Federal, State and Local Government		2,215,174		2.2	%
Consumer and Durable Goods		2,175,819		2.2	%
Media: Printing and Publishing		1,940,625		1.9	%
Chemicals, Plastics, Rubber, and Glass		1,749,997		1.7	%
Hotels and Gaming		1,209,000		1.2	%
Textiles, Leather, and Apparel		978,153		1.0	%
Leisure, Amusement, Entertainment		876,485		0.9	%
Other (3)		2,038,018		1.8	%
Total (4)	$	101,028,457		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 machinery, grocery, banking, and buildings and real estate.
(4)	Excludes our investment in 13 domestic self-storage properties totaling approximately 0.9 million square feet as of September 30, 2007.

16

W. P. CAREY & CO. LLC

Portfolio Diversification Analysis by Geography (Unaudited)

September 30, 2007

Region	Square Footage(1)		Percent
South		5,015,925		28.3	%
Midwest		4,870,408		27.5	%
East		3,627,317		20.5	%
West		2,321,016		13.1	%
Europe		1,868,168		10.6	%
Total (3)		17,702,834		100.0	%

Region	Annualized Rent(2)		Percent
South	$	28,830,464		28.6	%
West		21,113,054		20.9	%
Midwest		18,318,173		18.1	%
East		13,070,852		12.9	%
Europe		19,695,914		19.5	%
Total (3)		101,028,457		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 September 30, 2007.

17

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

					Percentage of			Average
Year of Lease	Number		Annualized		Total Annualized			Years to
Expiration(1)	of Leases		Rents(2)		Rents			Maturity
2007		17		1,839,931		2.0	%		0.25
2008		18		5,972,127		6.0	%		1.25
2009		19		11,960,860		12.0	%		2.25
2010		44		18,725,037		19.0	%		3.25
2011		60		17,426,359		17.0	%		4.25
2012		24		7,808,272		8.0	%		5.25
2013		20		6,502,335		6.0	%		6.25
2014		7		9,299,287		9.0	%		7.25
2015		7		4,277,461		4.0	%		8.25
2016		16		1,794,645		2.0	%		9.25
2017		8		2,380,602		2.0	%		10.25
2018		3		3,210,710		3.0	%		11.25
2019		4		2,776,740		3.0	%		12.25
2020		1		4,634,253		5.0	%		13.25
2021		—		—		0.0	%		14.25
2022		3		1,472,138		1.0	%		15.25
2023		—		—		0.0	%		16.25
2024		—		—		0.0	%		17.25
2025		—		—		0.0	%		18.25
2026		4		947,700		1.0	%		19.25
Total(3)		255	$	101,028,457		100.0	%

Weighted Average Years to Maturity: 5.57

(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 September 30, 2007.

18

W. P. CAREY & CO. LLC
Consolidated Balance Sheets (Unaudited)
(in thousands, except per share amounts)

	September 30, 2007			December 31, 2006
				(NOTE)
Assets
Real estate, net	$	524,333		$	540,504
Net investment in direct financing leases		107,371			108,581
Equity investments in real estate and CPA® REITs		202,458			166,147
Operating real estate, net		75,399			33,606
Assets held for sale		4,366			1,269
Cash and cash equivalents		17,068			22,108
Due from affiliates		84,671			88,884
Intangible assets and goodwill, net		101,723			107,349
Other assets, net		32,899			24,562
Total assets	$	1,150,288		$	1,093,010
Liabilities and Members’ Equity
Liabilities:
Limited recourse mortgage notes payable	$	254,114		$	261,152
Secured credit facility		35,581			15,501
Unsecured credit facility		58,700			2,000
Deferred revenue		—			40,490
Accounts payable, accrued expenses and other liabilities		61,539			53,174
Income taxes, net		71,897			63,462
Distributions payable		18,176			17,481
Total liabilities		500,007			453,260
Minority interest in consolidated entities		7,580			7,765
Commitments and contingencies
Members’ equity:
Listed shares, no par value, 100,000,000 shares authorized; 38,583,229 and 38,262,157 shares issued and outstanding, respectively		734,518			745,969
Dividends in excess of accumulated earnings		(93,842	)		(114,008	)
Accumulated other comprehensive income		2,025			24
Total members’ equity		642,701			631,985
Total liabilities and members’ equity	$	1,150,288		$	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 September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Revenues
Asset management revenue	$	18,648		$	14,364		$	63,886		$	43,478
Structuring revenue		9,778			3,434			67,809			15,788
Reimbursed costs from affiliates		3,422			13,762			10,141			36,654
Lease revenues		19,845			18,191			59,112			54,157
Other real estate income		4,159			2,514			10,574			7,046
		55,852			52,265			211,522			157,123
Operating Expenses
General and administrative		(12,345	)		(8,800	)		(47,838	)		(29,829	)
Reimbursable costs		(3,422	)		(13,762	)		(10,141	)		(36,654	)
Depreciation and amortization		(6,246	)		(5,912	)		(20,035	)		(17,784	)
Property expenses		(2,725	)		(2,333	)		(6,038	)		(5,346	)
Other real estate expenses		(2,255	)		(1,381	)		(6,080	)		(4,414	)
		(26,993	)		(32,188	)		(90,132	)		(94,027	)
Other Income and Expenses
Other interest income		1,287			831			5,528			2,369
Income from equity investments in real estate and CPA® REITs		8,945			2,932			13,312			5,726
Minority interest in (income) loss		(555	)		40			(4,027	)		(568	)
Gain on sale of securities, foreign currency transactions and other, net		1,029			245			1,384			5,723
Interest expense		(5,618	)		(4,395	)		(16,150	)		(13,324	)
		5,088			(347	)		47			(74	)
Income from continuing operations before income taxes		33,947			19,730			121,437			63,022
Provision for income taxes		(11,519	)		(5,580	)		(49,041	)		(16,300	)
Income from continuing operations		22,428			14,150			72,396			46,722
Discontinued Operations
Income (loss) from operations of discontinued properties		298			340			2,198			(506	)
(Loss) gain on sale of real estate, net		—			(185	)		962			(185	)
Impairment charges on assets held for sale		(2,317	)		—			(2,317	)		(3,357	)
(Loss) income from discontinued operations		(2,019	)		155			843			(4,048	)
Net Income	$	20,409		$	14,305		$	73,239		$	42,674
Basic Earnings (Loss) Per Share
Income from continuing operations	$	0.58		$	0.38		$	1.90		$	1.24
(Loss) income from discontinued operations		(0.05	)		—			0.02			(0.11	)
Net income	$	0.53		$	0.38		$	1.92		$	1.13
Diluted Earnings (Loss) Per Share
Income from continuing operations	$	0.58		$	0.37		$	1.88		$	1.20
(Loss) income from discontinued operations		(0.05	)		—			0.02			(0.10	)
Net income	$	0.53		$	0.37		$	1.90		$	1.10
Weighted Average Shares Outstanding
Basic		38,298,979			38,034,590			38,117,280			37,880,778
Diluted		39,601,853			39,303,948			39,718,522			39,215,134
Distributions Declared Per Share	$	0.472		$	0.456		$	1.401		$	1.362

20

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

	Nine months ended September 30,
	2007			2006
Cash Flows — Operating Activities
Net income	$	73,239		$	42,674
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization including intangible assets and deferred financing costs		21,140			19,063
Income from equity investments in real estate in excess of distributions received		(9,269	)		(324	)
Gains on sale of real estate and investments, net		(962	)		(4,615	)
Minority interest in income		4,027			568
Straight-line rent adjustments		2,045			2,343
Management income received in shares of affiliates		(43,415	)		(23,721	)
Unrealized gain on foreign currency transactions, warrants and securities		(1,279	)		(781	)
Impairment charges		2,317			3,357
Realized gain on foreign currency transactions		(105	)		(142	)
Stock-based compensation expense		3,795			2,520
Decrease in deferred structuring revenue receivable		16,164			12,543
Increase in structuring revenue receivable		(50,253	)		(3,039	)
Increase in income taxes, net		8,465			445
Net changes in other operating assets and liabilities		(1,016	)		(2,031	)
Net cash provided by operating activities		24,893			48,860
Cash Flows — Investing Activities
Distributions received from equity investments in real estate in excess of equity income		24,358			4,669
Purchases of real estate and equity investments in real estate		(40,845	)		(150	)
Capital expenditures		(11,768	)		(4,194	)
Loan to affiliate		(8,676	)		(84,000	)
Proceeds from repayment of loan to affiliate		8,676			84,000
Proceeds from sales of property and investments		6,014			32,350
Funds placed in escrow in connection with the sale of property		(3,315	)		(9,314	)
Payment of deferred acquisition revenue to affiliate		(524	)		(524	)
Net cash (used in) provided by investing activities		(26,080	)		22,837
Cash Flows — Financing Activities
Distributions paid		(53,432	)		(51,590	)
Contributions from minority interests		1,181			1,646
Distributions to minority interests		(1,295	)		(5,415	)
Scheduled payments of mortgage principal		(13,854	)		(9,191	)
Proceeds from mortgages and credit facilities		150,383			83,000
Prepayments of mortgage principal and credit facilities		(70,590	)		(92,971	)
Release of funds from escrow in connection with the financing of properties		—			4,031
Payment of financing costs		(1,317	)		(815	)
Proceeds from issuance of shares		4,532			6,251
Excess tax benefits associated with stock-based compensation awards		1,352			193
Repurchase and retirement of shares		(21,104	)		(1,935	)
Net cash used in financing activities		(4,144	)		(66,796	)
Change in Cash and Cash Equivalents During the Period
Effect of exchange rate changes on cash		291			84
Net (decrease) increase in cash and cash equivalents		(5,040	)		4,985
Cash and cash equivalents, beginning of period		22,108			13,014
Cash and cash equivalents, end of period	$	17,068		$	17,999

21

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

Percentage of

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage

Annualized Rent

Total Rent

Increase Factor

Lease Expiration

Maximum Term

Carrefour France, SAS (1)

45.806%

Crepy en Valois, France

Warehouse/Distribution

Retail Stores

Europe

253,629

$

1,950,356

1.93

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Lens, France

Warehouse/Distribution

Retail Stores

Europe

133,881

1,000,781

0.99

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Nîmes, France

Warehouse/Distribution

Retail Stores

Europe

138,095

852,321

0.84

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Colomiers, France

Warehouse/Distribution

Retail Stores

Europe

244,991

1,692,355

1.68

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Thuit Hebert, France

Warehouse/Distribution

Retail Stores

Europe

176,446

979,017

0.97

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Ploufragan, France

Warehouse/Distribution

Retail Stores

Europe

122,599

726,200

0.72

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Cholet, France

Warehouse/Distribution

Retail Stores

Europe

99,268

623,634

0.62

%

INSEE (2)

Dec-2011

Dec-2011

Carrefour France, SAS (1)

45.806%

Nîmes, France

Warehouse/Distribution

Retail Stores

Europe

177,797

1,251,628

1.24

%

INSEE (2)

Nov-2012

Nov-2012

Carrefour France, SAS Total

1,346,706

9,076,292

8.98

%

Dr Pepper/Seven Up Bottling Group

100%

Irving, TX

Industrial

Beverages, Food, and Tobacco

South

459,497

2,879,237

2.85

%

CPI

Jun-2014

Jun-2014

Dr Pepper/Seven Up Bottling Group

100%

Houston, TX

Industrial

Beverages, Food, and Tobacco

South

262,450

1,867,282

1.85

%

CPI

Jun-2014

Jun-2014

Dr Pepper/Seven Up Bottling Group Total

721,947

4,746,519

4.70

%

Bouygues Telecom, S.A.(1)

75%

Illkirch-Graffenstaden, France

Office

Telecommunications

Europe

80,729

2,873,068

2.84

%

INSEE (2)

Jul-2013

Jul-2013

Bouygues Telecom, S.A.(1)

95%

Tours, France

Office

Telecommunications

Europe

102,237

1,840,004

1.82

%

INSEE (2)

Sep-2009

Sep-2009

Bouygues Telecom, S.A. Total

182,966

4,713,072

4.67

%

Detroit Diesel Corporation

100%

Detroit, MI

Industrial

Automobile

Midwest

2,730,750

4,634,253

4.59

%

PPI

Jun-2020

Jun-2030

Semacs SA (1)

45.806%

Chatou, France

Other

Healthcare, Education and Childcare

Europe

24,668

419,853

0.42

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA (1)

45.806%

Poissy, France

Other

Healthcare, Education and Childcare

Europe

24,593

459,215

0.45

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA (1)

45.806%

Rosny sous Bois, France

Other

Healthcare, Education and Childcare

Europe

21,847

389,020

0.39

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA (1)

45.806%

Paris, France

Other

Healthcare, Education and Childcare

Europe

24,771

590,419

0.58

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA (1)

45.806%

Rueil Malmaison, France

Other

Healthcare, Education and Childcare

Europe

23,815

555,650

0.55

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA (1)

45.806%

Sarcelles, France

Other

Healthcare, Education and Childcare

Europe

34,622

695,382

0.69

%

INSEE (2)

Jun-2010

Jun-2010

Semacs SA Total

154,316

3,109,539

3.08

%

Federal Express Corporation

40%

Collierville, TN

Office

Transportation - Cargo

South

156,152

2,776,740

2.75

%

CPI

Aug-2019

Nov-2029

Federal Express Corporation

100%

College Station, TX

Warehouse/Distribution

Transportation - Cargo

South

12,080

68,400

0.07

%

Fixed

Apr-2012

Apr-2017

Federal Express Corporation

100%

Corpus Christi, TX

Warehouse/Distribution

Transportation - Cargo

South

30,212

201,037

0.20

%

Fixed

May-2012

May-2017

Federal Express Corporation Total

198,444

3,046,177

3.02

%

Orbital Sciences Corporation

100%

Chandler, AZ

Industrial

Aerospace and Defense

West

335,307

3,022,947

2.99

%

CPI

Sep-2009

Sep-2029

US Airways Group

74.59%

Tempe, AZ

Office

Transportation - Personal

West

167,913

2,837,889

2.81

%

CPI

Apr-2014

Nov-2029

The Titan Corporation

100%

San Diego, CA

Office

Electronics

West

166,403

2,706,799

2.68

%

CPI

Jul-2012

Jul-2017

CheckFree Holdings, Inc.

50%

Norcross, GA

Office/Land

Business and Commercial Services

South

110,339

2,357,753

2.33

%

AutoZone, Inc.

100%

Decatur, AL

Retail

Retail Stores

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Bessemer, AL

Retail

Retail Stores

South

5,400

32,158

0.03

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Phenix City, AL

Retail

Retail Stores

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Mobile, AL

Retail

Retail Stores

South

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Chickasaw, AL

Retail

Retail Stores

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Montgomery, AL

Retail

Retail Stores

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Panama City, FL

Retail

Retail Stores

South

5,401

35,345

0.03

%

None

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Jacksonville, FL

Retail

Retail Stores

South

15,800

137,018

0.14

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Columbus, GA

Retail

Retail Stores

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Albany, GA

Retail

Retail Stores

South

5,400

43,262

0.04

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Brunswick, GA

Retail

Retail Stores

South

5,400

39,854

0.04

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Augusta, GA

Retail

Retail Stores

South

5,400

34,138

0.03

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Macon, GA

Retail

Retail Stores

South

5,400

49,503

0.05

%

None

Aug-2013

Dec-2038

AutoZone, Inc.

100%

Collinsville, IL

Retail

Retail Stores

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Alton, IL

Retail

Retail Stores

Midwest

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Wood River, IL

Retail

Retail Stores

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Belleville, IL

Retail

Retail Stores

Midwest

5,400

44,620

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

West Monroe, LA

Retail

Retail Stores

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Baton Rouge, LA

Retail

Retail Stores

South

5,400

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Lake Charles, LA

Retail

Retail Stores

South

12,960

86,828

0.09

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Baton Rouge, LA

Retail

Retail Stores

South

12,001

44,691

0.04

%

None

Apr-2009

Apr-2009

AutoZone, Inc.

100%

Hammond, LA

Retail

Retail Stores

South

6,480

40,121

0.04

%

None

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Maplewood, MO

Retail

Retail Stores

Midwest

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Overland, MO

Retail

Retail Stores

Midwest

6,480

43,414

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

St. Louis, MO

Retail

Retail Stores

Midwest

5,400

36,178

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

Breckenridge, MO

Retail

Retail Stores

Midwest

5,400

44,151

0.04

%

None

Feb-2011

Feb-2026

AutoZone, Inc.

100%

St. Peters, MO

Retail

Retail Stores

Midwest

12,060

97,675

0.10

%

None

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Gastonia, NC

Retail

Retail Stores

East

5,400

52,149

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Charlotte, NC

Retail

Retail Stores

East

5,400

42,283

0.04

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Statesville, NC

Retail

Retail Stores

East

5,400

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Lenoir, NC

Retail

Retail Stores

East

5,400

50,739

0.05

%

None

Jan-2011

Feb-2026

AutoZone, Inc.

100%

Shelby, NC

Retail

Retail Stores

East

6,660

30,807

0.03

%

None

Aug-2012

Dec-2037

AutoZone, Inc.

100%

Kannapolis, NC

Retail

Retail Stores

East

6,408

24,069

0.02

%

None

Oct-2010

Oct-2015

AutoZone, Inc.

100%

Morgantown, NC

Retail

Retail Stores

East

5,400

19,451

0.02

%

None

Oct-2010

Oct-2010

AutoZone, Inc.

100%

Albuquerque, NM

Retail

Retail Stores

West

5,400

54,642

0.05

%

None

Aug-2013

Dec-2038

22

										Percentage of
Tenant/Lease Guarantor	Percent Ownership	Property Location	Property Type	Tenant Industry	Region	Square Footage		Annualized Rent		Total Rent			Increase Factor	Lease Expiration	Maximum Term
AutoZone, Inc.	100%	Farmington, NM	Retail	Retail Stores	West		5,400		41,479		0.04	%	None	Aug-2013	Dec-2038
AutoZone, Inc.	100%	Lexington, SC	Retail	Retail Stores	East		5,400		50,079		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.	100%	East Ridge, TN	Retail	Retail Stores	South		6,480		20,602		0.02	%	None	Oct-2008	Oct-2013
AutoZone, Inc.	100%	Knoxville, TN	Retail	Retail Stores	South		6,660		23,008		0.02	%	None	May-2009	May-2014
AutoZone, Inc.	100%	Austin, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc.	100%	Corpus Christi, TX	Retail	Retail Stores	South		13,080		102,418		0.10	%	None	Jan-2011	Feb-2026
AutoZone, Inc.	100%	Houston, TX	Retail	Retail Stores	South		5,400		53,488		0.05	%	None	Aug-2013	Dec-2038
AutoZone, Inc.	100%	Nederland, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc.	100%	San Antonio, TX	Retail	Retail Stores	South		10,800		98,078		0.10	%	None	Aug-2013	Dec-2038
AutoZone, Inc.	100%	Victoria, TX	Retail	Retail Stores	South		6,480		50,739		0.05	%	None	Jan-2011	Feb-2026
AutoZone, Inc.	100%	Waco, TX	Retail	Retail Stores	South		4,800		37,585		0.04	%	None	Jan-2011	Feb-2026
AutoZone, Inc.	100%	West Orange, TX	Retail	Retail Stores	South		4,000		31,321		0.03	%	None	Jan-2011	Feb-2026
AutoZone, Inc. Total							302,230		2,216,594		2.19	%
Bell South Entertainment, Inc.	100%	Ft. Lauderdale, FL	Warehouse/Distribution	Telecommunications	South		80,450		611,472		0.61	%	Fixed	Jun-2009	Jun-2019
BellSouth Telecommunications, Inc.	100%	Lafayette, LA	Office	Telecommunications	South		66,846		1,351,150		1.34	%	Fixed	Dec-2009	Dec-2039
BellSouth Corporation Total							147,296		1,962,622		1.94	%
Quebecor Printing USA	100%	Doraville, GA	Industrial	Media: Printing and Publishing	South		432,559		1,940,625		1.92	%	CPI	Dec-2009	Dec-2034
Lucent Technologies, Inc.	100%	Charlotte, NC	Industrial	Electronics	East		568,670		1,918,333		1.90	%	Fixed	Mar-2010	Mar-2016
Career Education Corporation	100%	Mendota Heights, MN	Other	Healthcare, Education and Childcare	Midwest		136,400		1,892,831		1.87	%	Fixed	May-2011	May-2019
Information Resources, Inc.	33.33%	Chicago, IL	Office	Business and Commercial Services	Midwest		83,992		1,862,942		1.84	%
Sybron Dental Specialties, Inc.	100%	Romulus, MI	Industrial	Healthcare, Education and Childcare	Midwest		220,000		1,281,052		1.27	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc.	100%	Glendora, CA	Office	Healthcare, Education and Childcare	West		25,000		489,246		0.48	%	CPI	Dec-2018	Dec-2043
Sybron Dental Specialties, Inc. Total							245,000		1,770,298		1.75	%
Unisource Worldwide, Inc.	100%	Anchorage, AK	Warehouse/Distribution	Forest Products and Paper	West		44,712		344,803		0.34	%	Fixed	Dec-2009	Dec-2029
Unisource Worldwide, Inc.	100%	Commerce, CA	Warehouse/Distribution	Forest Products and Paper	West		411,561		1,422,080		1.41	%	Fixed	Apr-2010	Apr-2030
Unisource Worldwide, Inc. Total							456,273		1,766,883		1.75	%
Brodart Company	100%	Williamsport, PA	Industrial	Consumer Non-durable Goods	East		521,240		1,720,686		1.70	%	CPI	Jun-2008	Jun-2028
Fiskars Brands, Inc.	100%	Apopka, FL	Industrial	Chemicals, Plastics, Rubber, and Glass	South		374,829		1,717,741		1.70	%	CPI	Mar-2010	Mar-2035
SICOR, Inc.	50%	San Diego, CA	Industrial	Healthcare, Education and Childcare	West		72,156		1,671,410		1.65	%	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		1.60	%	CPI	Nov-2010	Nov-2030
Cleo, Inc.	100%	Memphis, TN	Warehouse/Distribution	Forest Products and Paper	South		1,006,170		1,570,000		1.55	%	CPI	Dec-2010	Dec-2015
BE Aerospace, Inc.	100%	Lenexa, KS	Industrial	Aerospace and Defense	Midwest		130,094		627,066		0.62	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Winston-Salem, NC	Office/Industrial & Warehouse/Distribution	Aerospace and Defense	East		274,216		761,588		0.75	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc.	100%	Dallas, TX	Warehouse/Distribution	Aerospace and Defense	South		22,680		119,441		0.12	%	Fixed	Sep-2017	Sep-2037
BE Aerospace, Inc. Total							426,990		1,508,095		1.49	%
Lowe’s Home Improvement Warehouse	100%	Bellevue, WA	Retail	Construction and Building	West		143,352		1,440,412		1.43	%	CPI	Aug-2018	Aug-2018
Sprint Spectrum, L.P.	100%	Rio Rancho, NM	Office	Telecommunications	West		94,730		1,424,561		1.41	%	Fixed	May-2011	May-2021
Amerisure Mutual Insurance Co.	100%	Charleston, SC	Office	Insurance	East		127,754		1,382,256		1.37	%	Fixed	Dec-2007	Dec-2028
AT&T Corporation	100%	Bridgeton, MO	Industrial	Telecommunications	Midwest		85,510		1,257,410		1.24	%	Fixed	Sep-2011	Jun-2021
Radisson Hotels International, Inc.	100%	Livonia, MI	Hospitality	Hotels and Gaming	Midwest		158,000		1,200,000		1.19	%	Fixed	Jan-2008	Jan-2012
Omnicom Group, Inc.	100%	Venice, CA	Office	Business and Commercial Services	West		77,719		1,193,661		1.18	%	Other	Sep-2010	Sep-2030
United States Postal Service	100%	Bloomingdale, IL	Office	Federal, State and Local Government	Midwest		60,000		1,170,000		1.16	%	Fixed	Apr-2011	Apr-2011
Hologic, Inc.	36%	Danbury, CT	Industrial	Electronics	East		22,335		210,527		0.21	%	CPI	Aug-2022	Aug-2042
Hologic, Inc.	36%	Bedford, MA	Industrial	Electronics	East		74,520		925,612		0.92	%	CPI	Aug-2022	Aug-2042
Hologic, Inc. Total							96,855		1,136,139		1.12	%
Anthony’s Manufacturing Company, Inc.	100%	San Fernando, CA	Industrial	Consumer and Durable Goods	West		182,845		1,091,816		1.08	%	CPI/Market	May-2012	May-2012
Werner Co.	100%	Erlanger, KY	Warehouse/Distribution	Consumer and Durable Goods	East		572,204		1,084,003		1.07	%	Fixed	Jul-2015	Jul-2021
United Space Alliance, LLC	100%	Webster, TX	Industrial & Warehouse/Distribution	Business and Commercial Services	South		138,098		1,072,850		1.06	%	None	Sep-2010	Sep-2012
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	100%	King of Prussia, PA	Office	Business and Commercial Services	East		88,578		819,347		0.81	%	Fixed	Jul-2008	Jul-2008
Lockheed Martin Corporation Total							118,754		1,060,763		1.05	%
United Stationers Supply Company	100%	New Orleans, LA	Warehouse/Distribution	Forest Products and Paper	South		59,000		366,539		0.36	%	CPI	Mar-2010	Mar-2030

23

Percentage of

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage

Annualized Rent

Total Rent

Increase Factor

Lease Expiration

Maximum Term

United Stationers Supply Company

100%

Memphis, TN

Warehouse/Distribution

Forest Products and Paper

South

75,000

317,385

0.31

%

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 Total

197,098

1,034,837

1.02

%

Cree Microwave, LLC

100%

Sunnyvale, CA

Industrial

Electronics

West

50,311

1,026,297

1.02

%

CPI

Nov-2011

Nov-2026

Swat-Fame, Inc.

100%

City of Industry, CA

Industrial

Textiles, Leather, and Apparel

West

233,205

978,153

0.97

%

CPI

Dec-2010

Dec-2020

Sears Logistics Services, Inc.

100%

Jacksonville, FL

Warehouse/Distribution

Consumer Non-durable Goods

South

240,000

969,946

0.96

%

None

Jun-2008

Jun-2008

Consolidated Systems, Inc.

60%

Columbia, SC

Office/Industrial & Warehouse/Distribution

Mining, Metals, and Primary Metal Industries

East

338,766

947,700

0.94

%

Fixed

Oct-2026

Oct-2046

Hibbett Sporting Goods, Inc.

100%

Birmingham, AL

Warehouse/Distribution

Retail Stores

South

219,312

876,900

0.87

%

CPI

Dec-2014

Dec-2029

24 Hour Fitness

100%

Austin, TX

Other

Leisure, Amusement, Entertainment

South

43,935

872,507

0.86

%

CPI

Jun-2017

Jun-2033

NVR, Inc.

100%

Thurmont, MD

Industrial

Construction and Building

East

150,468

687,992

0.68

%

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

0.81

%

Vertafore, Inc.

100%

College Station, TX

Office

Telecommunications

South

52,552

783,915

0.78

%

Fixed

Dec-2009

Dec-2015

Aviva (1)

75%

Rouen, France

Office

Insurance

Europe

27,593

653,692

0.65

%

INSEE (2)

Sep-2010

Sep-2010

Deloro Satellite Company, Inc.

100%

Goshen, IN

Industrial

Mining, Metals, and Primary Metal Industries

Midwest

52,000

643,069

0.64

%

CPI

Feb-2010

Feb-2035

Western Union Financial Services, Inc.

100%

Bridgeton, MO

Office

Banking

Midwest

78,080

624,640

0.62

%

Fixed

Nov-2016

Nov-2026

Wal-Mart Stores, Inc.

100%

Greenfield, IN

Warehouse/Distribution

Retail Stores

Midwest

82,620

567,745

0.56

%

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

0.55

%

CPI

Apr-2012

Apr-2027

Childtime Childcare, Inc.

33.93%

Chandler, AZ

Other Properties

Healthcare, Education and Childcare

West

2,026

35,254

0.03

%

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%

Alhambra, CA

Other Properties

Healthcare, Education and Childcare

West

2,262

53,011

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%

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%

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%

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%

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%

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. Total

28,617

516,169

0.51

%

Alcoa, Inc.

100%

Salisbury, NC

Warehouse/Distribution

Machinery

East

244,000

536,320

0.53

%

Fixed

Jun-2010

Jun-2020

Jada Toys, Inc.

100%

City of Industry, CA

Industrial

Consumer Non-durable Goods

West

92,595

444,000

0.44

%

Fixed

Apr-2012

Apr-2017

Alstom Power

100%

Erlanger, KY

Warehouse/Distribution

Business and Commercial Services

East

197,400

443,370

0.44

%

Fixed

May-2013

May-2013

Affiliated Foods Southwest, Inc.

100%

Hope, AR

Retail

Grocery

South

35,784

75,144

0.07

%

CPI

Mar-2012

Mar-2037

Affiliated Foods Southwest, Inc.

100%

Little Rock, AR

Retail

Grocery

South

86,290

330,356

0.33

%

Fixed

Jan-2009

Jan-2024

Affiliated Foods Southwest, Inc. Total

122,074

405,500

0.40

%

Kmart Corporation

100%

Citrus Heights, CA

Retail

Retail Stores

West

89,760

180,000

0.18

%

None

May-2011

May-2026

Kmart Corporation

100%

Drayton Plains, MI

Retail

Retail Stores

Midwest

103,018

210,000

0.21

%

None

Mar-2011

Mar-2026

Kmart Corporation Total

192,778

390,000

0.39

%

The Retail Distribution Group, Inc.

40%

Grand Rapids, MI

Warehouse/Distribution

Beverages, Food, and Tobacco

Midwest

71,784

383,040

0.38

%

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

SARL S3T (1)

80%

Joue Les Tours, France

Warehouse/Distribution

Telecommunications

Europe

55,594

366,635

0.36

%

INSEE (2)

May-2008

May-2008

Pioneer Credit Recovery, Inc.

100%

Moorestown, NJ

Office

Business and Commercial Services

East

30,000

345,000

0.34

%

Fixed

Apr-2012

Apr-2018

Faurecia Exhaust Systems, Inc.

100%

Toledo, OH

Office

Automobile

Midwest

61,000

336,000

0.33

%

CPI

Nov-2022

Nov-2022

Direction Regional des Affaires Sanitaires et Sociales (DRASS) (1)

75%

Rouen, France

Office

Federal, State and Local Government

Europe

19,213

335,559

0.33

%

INSEE (2)

Dec-2013

Dec-2013

DSM Food Specialties (1)

80%

Phalempin, France

Warehouse/Distribution

Beverages, Food, and Tobacco

Europe

29,870

319,013

0.32

%

INSEE (2)

May-2008

May-2008

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

289,391

0.29

%

Fixed

Jul-2009

Jul-2009

24

Percentage of

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage

Annualized Rent

Total Rent

Increase Factor

Lease Expiration

Maximum Term

Department de Seine St. Denis (1)

75%

Paris, France

Office

Federal, State and Local Government

Europe

8,451

282,435

0.28

%

INSEE (2)

Dec-2011

Dec-2011

Qwest Communications, Inc.

100%

Scottsdale, AZ

Industrial

Telecommunications

West

4,460

274,304

0.27

%

Fixed

Feb-2012

Feb-2017

Winn-Dixie Stores, Inc.

100%

Montgomery, AL

Retail

Grocery

South

32,690

138,933

0.14

%

None

Mar-2008

Mar-2038

Winn-Dixie Stores, Inc.

100%

Brewton, AL

Retail

Grocery

South

30,625

134,500

0.13

%

None

Oct-2010

Oct-2030

Winn-Dixie Stores, Inc. Total

63,315

273,433

0.27

%

Penberthy, Inc.

100%

Prophetstown, IL

Industrial

Mining, Metals, and Primary Metal Industries

Midwest

161,878

268,890

0.27

%

CPI

Apr-2011

Apr-2026

Honeywell International, Inc.

100%

Houston, TX

Warehouse/Distribution

Aerospace and Defense

South

32,320

228,828

0.23

%

None

Sep-2010

Sep-2010

Honeywell International, Inc.

100%

Houston, TX

Land

Aerospace and Defense

South

1

36,000

0.04

%

None

Sep-2010

Sep-2010

Honeywell International, Inc. Total

32,321

264,828

0.26

%

Tubular Metal Systems

100%

Pinconning, MI

Industrial

Automobile

Midwest

220,588

254,538

0.25

%

CPI

Jul-2013

Dec-2022

La Region Ile de France (1)

75%

Paris, France

Office

Federal, State and Local Government

Europe

7,613

240,581

0.24

%

INSEE (2)

Oct-2012

Oct-2012

GIE Groupe Vauban (1)

75%

Paris, France

Office

Insurance

Europe

7,613

232,946

0.23

%

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

Xerox Corporation

100%

Hot Springs, AR

Retail

Machinery

South

36,850

176,143

0.17

%

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

CFTC Chimie Mines Textiles Energie

75%

Paris, France

Office

Business and Commercial Services

Europe

4,697

141,774

0.14

%

INSEE (2)

Mar-2016

Mar-2016

Golder Associates Inc.

100%

Houston, TX

Office

Business and Commercial Services

South

11,396

103,368

0.10

%

None

Oct-2010

Oct-2020

Custom Training Group, Inc.

100%

Houston, TX

Office

Healthcare, Education and Childcare

South

11,704

99,372

0.10

%

None

Dec-2008

Dec-2008

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

75%

Paris, France

Office

Federal, State and Local Government

Europe

3,633

93,879

0.09

%

INSEE (2)

MTM

Jun-2015

AFPOLS (1)

75%

Paris, France

Office

Federal, State and Local Government

Europe

3,488

81,033

0.08

%

INSEE (2)

Jun-2008

Jun-2008

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

Kenyon International Emergency Services

100%

Houston, TX

Warehouse/Distribution

Healthcare, Education and Childcare

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

Olmsted Kirk Paper Company

100%

Beaumont, TX

Office

Forest Products and Paper

South

5,760

42,544

0.04

%

Fixed

Dec-2012

Dec-2012

The Prater Company LLC, Jerry Prater Trucking Inc.

100%

Salisbury, NC

Industrial

Transportation - Cargo

East

13,284

37,200

0.04

%

None

Sep-2008

Sep-2012

Mile High Sunrooms, LLC

100%

Broomfield, CO

Office

Chemicals, Plastics, Rubber, and Glass

West

4,162

32,256

0.03

%

Fixed

Apr-2009

Apr-2009

Cardinal Communications, Inc.

100%

Broomfield, CO

Office

Construction and Building

West

9,401

28,203

0.03

%

None

Oct-2007

Oct-2008

G.T. of the Front Range

100%

Broomfield, CO

Office

Retail Stores

West

5,488

20,992

0.02

%

Fixed

Jun-2011

Jun-2011

CGEC Keter (1)

75%

Paris, France

Office

Buildings and Real Estate

Europe

2,301

17,182

0.02

%

INSEE (2)

Dec-2014

Dec-2014

Marathon System Service

100%

Broomfield, CO

Office

Electronics

West

2,283

14,680

0.01

%

None

Nov-2007

Nov-2007

Sundew Technologies

100%

Broomfield, CO

Office

Business and Commercial Services

West

3,745

12,805

0.01

%

None

Oct-2007

Oct-2007

Appointment Quest

100%

Broomfield, CO

Office

Telecommunications

West

1,670

12,508

0.01

%

Fixed

May-2009

May-2009

RedCloud Telecom Products, Inc. (3)

100%

Broomfield, CO

Office

Telecommunications

West

2,093

12,000

0.01

%

Fixed

MTM

MTM

Abilis (1)

75%

Paris, France

Office

Business and Commercial Services

Europe

0

11,734

0.01

%

INSEE (2)

Jan-2008

Jan-2008

Ass Comite Dept du Tourisme (1)

75%

Paris, France

Office

Federal, State and Local Government

Europe

0

11,687

0.01

%

INSEE (2)

MTM

MTM

Aardvark IT Solutions

100%

Broomfield, CO

Office

Electronics

West

3,069

11,171

0.01

%

None

Apr-2008

N/A

Rhino Linings

100%

Broomfield, CO

Office

Retail Stores

West

2,532

10,255

0.01

%

Fixed

Jun-2008

Jun-2008

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

8,860

0.01

%

None

Jan-2010

Jun-2015

25

Percentage of

Tenant/Lease Guarantor

Percent Ownership

Property Location

Property Type

Tenant Industry

Region

Square Footage

Annualized Rent

Total Rent

Increase Factor

Lease Expiration

Maximum Term

Fine Art Mannequins, LLC (3)

100%

Broomfield, CO

Office

Business and Commercial Services

West

2,209

8,836

0.01

%

Other

MTM

Apr-2009

Pacific Mobile Diagnostics, Inc. (3)

100%

Broomfield, CO

Office

Healthcare, Education and Childcare

West

2,093

8,483

0.01

%

Fixed

MTM

MTM

AT&T Wireless Services (3)

100%

Broomfield, CO

Office

Telecommunications

West

730

8,208

0.01

%

Fixed

MTM

MTM

EarthRoamer.com

100%

Broomfield, CO

Office

Automobile

West

7,500

7,500

0.01

%

None

Dec-2007

Dec-2007

Danseetoile Ballet

100%

Broomfield, CO

Office

Healthcare, Education and Childcare

West

1,510

6,040

0.01

%

None

Sep-2009

Sep-2009

Photo Center (3)

100%

Hot Springs, AR

Retail

Machinery

South

340

4,800

0.00

%

None

MTM

MTM

Byron Jacquot (3)

100%

Broomfield, CO

Office

Leisure, Amusement, Entertainment

West

1,105

3,978

0.00

%

None

MTM

MTM

Tempered Air Services, Inc. (3)

100%

Broomfield, CO

Office

Construction and Building

West

1,200

1,200

0.00

%

None

MTM

MTM

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

26,540

—

—

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

EUR

14,114

—

—

N/A

N/A

N/A

Vacant

100%

Salisbury, NC

Office & Warehouse/Distribution

N/A

East

53,681

—

—

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

624,904

Grand Total

17,702,834

$

101,028,457

100

%

(1)	Rents reflect a conversion rate of 1.4272 USD/EUR as of September 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 September 30, 2007.

26