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Equity Investment in Real Estate and the Managed Programs (Tables)
 9 Months Ended
Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
The following table sets forth our ownership interests in our equity investments in real estate, excluding the Managed Programs, and their respective carrying values (dollars in thousands):
 
 
 
 
 
 
Carrying Value at
Lessee
 
Co-owner
 
Ownership Interest
 
September 30, 2016
 
December 31, 2015
The New York Times Company
 
CPA®:17 – Global
 
45%
 
$
69,772

 
$
70,976

Frontier Spinning Mills, Inc.
 
CPA®:17 – Global
 
40%
 
24,149

 
24,288

Beach House JV, LLC (a)
 
Third Party
 
N/A
 
15,105

 
15,318

Actebis Peacock GmbH (b)
 
CPA®:17 – Global
 
30%
 
11,981

 
12,186

C1000 Logistiek Vastgoed B.V. (b) (c)
 
CPA®:17 – Global
 
15%
 
9,481

 
9,381

Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH (b)
 
CPA®:17 – Global
 
33%
 
9,113

 
9,507

Wanbishi Archives Co. Ltd. (d)
 
CPA®:17 – Global
 
3%
 
378

 
335

 
 
 
 
 
 
$
139,979

 
$
141,991

__________
(a)
This investment is a preferred equity position.
(b)
The carrying value of this investment is affected by fluctuations in the exchange rate of the euro.
(c)
This investment represents a tenancy-in-common interest, whereby the property is encumbered by the debt for which we are jointly and severally liable. The co-obligor is CPA®:17 – Global and the amount due under the arrangement was approximately $72.8 million at September 30, 2016. Of this amount, $10.9 million represents the amount we agreed to pay and is included within the carrying value of the investment at September 30, 2016.
(d)
The carrying value of this investment is affected by fluctuations in the exchange rate of the yen.

The following table presents Equity in earnings of equity method investments in the Managed Programs and real estate, which represents our proportionate share of the income or losses of these investments, as well as certain adjustments related to amortization of basis differences related to purchase accounting adjustments (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Distributions of Available Cash (Note 3)
$
10,876

 
$
10,182

 
$
32,018

 
$
28,244

Proportionate share of earnings (losses) from equity investments in the Managed Programs
2,962

 
(431
)
 
7,396

 
565

Amortization of basis differences on equity investments in the Managed Programs
(265
)
 
(208
)
 
(756
)
 
(582
)
Total equity earnings from the Managed Programs
13,573

 
9,543

 
38,658

 
28,227

Equity earnings from other equity investments
4,197

 
4,034

 
12,456

 
13,188

Amortization of basis differences on other equity investments
(967
)
 
(942
)
 
(2,871
)
 
(2,785
)
Equity in earnings of equity method investments in the Managed Programs and real estate
$
16,803

 
$
12,635

 
$
48,243

 
$
38,630

The following table sets forth certain information about our investments in the Managed Programs (dollars in thousands):
 
 
% of Outstanding Interests Owned at
 
Carrying Amount of Investment at
Fund
 
September 30, 2016
 
December 31, 2015
 
September 30, 2016
 
December 31, 2015
CPA®:17 – Global
 
3.358
%
 
3.087
%
 
$
98,702

 
$
87,912

CPA®:17 – Global operating partnership
 
0.009
%
 
0.009
%
 
—

 
—

CPA®:18 – Global
 
1.384
%
 
0.735
%
 
16,007

 
9,279

CPA®:18 – Global operating partnership
 
0.034
%
 
0.034
%
 
209

 
209

CWI 1
 
1.114
%
 
1.131
%
 
11,731

 
12,619

CWI 1 operating partnership
 
0.015
%
 
0.015
%
 
—

 
—

CWI 2
 
0.633
%
 
0.379
%
 
3,771

 
949

CWI 2 operating partnership
 
0.015
%
 
0.015
%
 
300

 
300

CCIF
 
16.514
%
 
47.882
%
 
23,083

 
22,214

CESH I (a)
 
2.121
%
 
—
%
 
908

 
—

 
 
 
 
 
 
$
154,711

 
$
133,482


__________
(a)
Investment is accounted for at fair value.