Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III- Real Estate and Accumulated Depreciation

W. P. CAREY INC.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

(in thousands)

			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (a)		Increase  (Decrease) in Net Investments (b)		Gross Amount at which  Carried at Close of Period (c) (d)						Accumulated Depreciation (d)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances		Land		Buildings						Land		Buildings		Total
Real Estate Subject to Operating Leases
Industrial facilities in Erlanger, KY	$	—	$	1,526	$	21,427	$	2,966	$	(84)	$	1,526	$	24,309	$	25,835	$	15,989	1979; 1987	Jan. 1998	40 yrs.
Industrial facilities in Thurmont, MD and Farmington, NY	—		729		5,903		—		—		729		5,903		6,632		3,814		1964; 1983	Jan. 1998	15 yrs.
Warehouse facility in Commerce, CA	—		4,905		11,898		—		(3,043)		4,573		9,187		13,760		6,279		1948	Jan. 1998	40 yrs.
Industrial facility in Goshen, IN	—		239		940		—		—		239		940		1,179		650		1973	Jan. 1998	40 yrs.
Industrial facilities in Sylmar, CA	—		2,052		5,322		—		(1,889)		1,494		3,991		5,485		2,603		1962; 1979	Jan. 1998	40 yrs.
Retail facilities in the United States	—		9,382		—		238		14,483		9,025		15,078		24,103		11,286		Various	Jan. 1998	15 yrs.
Land in Glendora, CA	—		1,135		—		—		17		1,152		—		1,152		—		N/A	Jan. 1998	N/A
Warehouse facility in Doraville, GA	—		3,288		9,864		17,079		(11,410)		3,288		15,533		18,821		3,308		2016	Jan. 1998	40 yrs.
Warehouse facility in Corpus Christi, TX	—		3,490		72,497		3,513		(77,927)		288		1,285		1,573		835		1989	Jan. 1998	40 yrs.
Land in Irving and Houston, TX	—		9,795		—		—		—		9,795		—		9,795		—		N/A	Jan. 1998	N/A
Industrial facility in Chandler, AZ	—		5,035		18,957		8,373		516		5,035		27,846		32,881		17,537		1989	Jan. 1998	40 yrs.
Warehouse facility in Memphis, TN	—		1,882		3,973		294		(3,892)		328		1,929		2,257		1,700		1969	Jan. 1998	15 yrs.
Industrial facility in Romulus, MI	—		454		6,411		525		—		454		6,936		7,390		3,461		1970	Jan. 1998	10 yrs.
Retail facility in Bellevue, WA	—		4,125		11,812		393		(123)		4,371		11,836		16,207		7,425		1994	Apr. 1998	40 yrs.
Industrial facility in Winston-Salem, NC	—		1,860		12,539		3,075		(7,325)		925		9,224		10,149		6,051		1980	Sep. 2002	40 yrs.
Warehouse facility in Greenfield, IN	—		2,807		10,335		223		(8,383)		967		4,015		4,982		2,431		1995	Sep. 2004	40 yrs.
Warehouse facilities in Apopka, FL	—		362		10,855		1,195		(155)		337		11,920		12,257		5,155		1969	Sep. 2004	40 yrs.
Land in San Leandro, CA	—		1,532		—		—		—		1,532		—		1,532		—		N/A	Dec. 2006	N/A
Retail facility in Austin, TX	—		1,725		5,168		—		—		1,725		5,168		6,893		3,098		1995	Dec. 2006	29 yrs.
Retail facility in Wroclaw, Poland	—		3,600		10,306		—		(3,913)		2,763		7,230		9,993		2,867		2007	Dec. 2007	40 yrs.
Warehouse facility in Mallorca, Spain	—		11,109		12,636		—		(1,780)		10,257		11,708		21,965		3,973		2008	Jun. 2010	40 yrs.
Industrial facilities in Auburn, IN; Clinton Township, MI; and Bluffton, OH	—		4,403		20,298		—		(3,870)		2,589		18,242		20,831		6,553		1968; 1975; 1995	Sep. 2012; Jan. 2014	30 yrs.
Land in Irvine, CA	—		4,173		—		—		—		4,173		—		4,173		—		N/A	Sep. 2012	N/A
Industrial facility in Alpharetta, GA	—		2,198		6,349		1,247		—		2,198		7,596		9,794		2,967		1997	Sep. 2012	30 yrs.
Warehouse facility in St. Petersburg, FL	—		3,280		24,627		4,675		(20,393)		1,814		10,375		12,189		3,794		1996	Sep. 2012	30 yrs.
Retail facility in Baton Rouge, LA	—		4,168		5,724		3,200		—		4,168		8,924		13,092		3,510		2003	Sep. 2012	30 yrs.
Research and development facility in San Diego, CA	—		7,804		16,729		5,939		(832)		7,804		21,836		29,640		8,476		2002	Sep. 2012	30 yrs.
Industrial facility in Richmond, CA	—		895		1,953		—		—		895		1,953		2,848		734		1999	Sep. 2012	30 yrs.
Warehouse facilities in the United States	—		16,386		84,668		14,997		—		16,386		99,665		116,051		33,568		Various	Sep. 2012	30 yrs.
Industrial facilities in Rocky Mount, NC and Lewisville, TX	—		2,163		17,715		609		(8,389)		1,132		10,966		12,098		4,109		1948; 1989	Sep. 2012	30 yrs.
Industrial facilities in Chattanooga, TN	—		558		5,923		—		—		558		5,923		6,481		2,202		1974; 1989	Sep. 2012	30 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Industrial facility in Mooresville, NC	—	756	9,775	—	—	756	9,775	10,531	3,624	1997	Sep. 2012	30 yrs.
Industrial facility in McCalla, AL	—	960	14,472	42,662	(254)	2,076	55,764	57,840	14,475	2004	Sep. 2012	31 yrs.
Industrial facility in Fort Smith, AZ	—	1,063	6,159	—	—	1,063	6,159	7,222	2,259	1982	Sep. 2012	30 yrs.
Retail facilities in Greenwood, IN and Buffalo, NY	617	—	19,990	—	—	—	19,990	19,990	7,252	2000; 2003	Sep. 2012	30 - 31 yrs.
Industrial facilities in Bowling Green, KY and Jackson, TN	—	1,492	8,182	600	—	1,492	8,782	10,274	3,061	1989; 1995	Sep. 2012	31 yrs.
Education facility in Rancho Cucamonga, CA and laboratory facility in Exton, PA	—	14,006	33,683	9,659	(20,142)	6,638	30,568	37,206	9,521	2004	Sep. 2012	31 - 32 yrs.
Industrial facilities in St. Petersburg, FL; Buffalo Grove, IL; West Lafayette, IN; Excelsior Springs, MO; and North Versailles, PA	—	6,559	19,078	3,285	—	6,559	22,363	28,922	7,456	Various	Sep. 2012	31 yrs.
Industrial and warehouse facility in Mesquite, TX	—	2,702	13,029	1,450	—	2,702	14,479	17,181	928	1972	Sep. 2012	31 yrs.
Industrial facilities in Tolleson, AZ; Alsip, IL; and Solvay, NY	—	6,080	23,424	546	—	6,080	23,970	30,050	8,465	1990; 1994; 2000	Sep. 2012	31 yrs.
Retail facility in Memphis, TN	—	4,877	4,258	5,215	(2,353)	2,027	9,970	11,997	5,003	1990	Sep. 2012	31 yrs.
Warehouse facilities in Oceanside, CA and Concordville, PA	578	3,333	8,270	116	—	3,333	8,386	11,719	2,984	1989; 1996	Sep. 2012	31 yrs.
Warehouse facility in La Vista, NE	16,339	4,196	23,148	—	—	4,196	23,148	27,344	7,787	2005	Sep. 2012	33 yrs.
Laboratory facility in Pleasanton, CA	—	3,675	7,468	14,855	—	3,675	22,323	25,998	2,809	2000	Sep. 2012	40 yrs.
Office facility in Chicago, IL	—	2,169	19,010	83	(72)	2,169	19,021	21,190	6,726	1910	Sep. 2012	31 yrs.
Industrial facilities in Hollywood and Orlando, FL	—	3,639	1,269	—	—	3,639	1,269	4,908	448	1996	Sep. 2012	31 yrs.
Warehouse facility in Golden, CO	—	808	4,304	77	—	808	4,381	5,189	1,701	1998	Sep. 2012	30 yrs.
Industrial facility in Texarkana, TX	—	1,755	4,493	—	(2,783)	216	3,249	3,465	1,148	1997	Sep. 2012	31 yrs.
Industrial facility in South Jordan, UT	—	2,183	11,340	2,254	—	2,183	13,594	15,777	4,572	1995	Sep. 2012	31 yrs.
Warehouse facility in Ennis, TX	—	478	4,087	145	(145)	478	4,087	4,565	1,444	1989	Sep. 2012	31 yrs.
Specialty facility in Paris, France	—	23,387	43,450	703	(9,432)	20,095	38,013	58,108	12,958	1975	Sep. 2012	32 yrs.
Retail facilities in Poland	—	26,564	72,866	—	(14,035)	22,785	62,610	85,395	29,617	Various	Sep. 2012	23 - 34 yrs.
Industrial facilities in Danbury, CT and Bedford, MA	—	3,519	16,329	43	—	3,519	16,372	19,891	6,157	1965; 1980	Sep. 2012	29 yrs.
Industrial facility in Brownwood, TX	—	722	6,268	—	—	722	6,268	6,990	2,089	1964	Sep. 2012	15 yrs.
Industrial facility in Rochester, MN	—	809	14,236	3,351	—	809	17,587	18,396	1,198	1997	Sep. 2012	31 yrs.
Office facility in Salford, United Kingdom	—	—	30,012	—	(9,122)	—	20,890	20,890	6,405	1997	Sep. 2013	40 yrs.
Office facility in Mönchengladbach, Germany	27,300	2,154	6,917	50,626	(2,678)	2,122	54,897	57,019	11,162	2015	Dec. 2013	40 yrs.
Retail facility in Houston, TX	—	2,430	2,270	—	—	2,430	2,270	4,700	1,004	1995	Jan. 2014	23 yrs.
Retail facility in St. Charles, MO	—	1,966	1,368	1,658	—	1,966	3,026	4,992	1,329	1987	Jan. 2014	27 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

				Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
		Initial Cost to Company
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Industrial facility in Aurora, CO	—	737	2,609	—	—	737	2,609	3,346	819	1985	Jan. 2014	32 yrs.
Warehouse facility in Burlington, NJ	—	3,989	6,213	377	—	3,989	6,590	10,579	2,588	1999	Jan. 2014	26 yrs.
Industrial facility in Albuquerque, NM	—	2,467	3,476	715	—	2,467	4,191	6,658	1,609	1993	Jan. 2014	27 yrs.
Industrial facility in North Salt Lake, UT	—	10,601	17,626	—	(16,936)	4,388	6,903	11,291	2,616	1981	Jan. 2014	26 yrs.
Industrial facility in Lexington, NC	—	2,185	12,058	—	(2,519)	494	11,230	11,724	4,012	2003	Jan. 2014	28 yrs.
Industrial facility in Dallas, TX	—	3,190	10,010	—	—	3,190	10,010	13,200	451	1968	Jan. 2014	32 yrs.
Land in Welcome, NC	—	980	11,230	—	(11,724)	486	—	486	—	N/A	Jan. 2014	N/A
Industrial facilities in Evansville, IN; Lawrence, KS; and Baltimore, MD	—	4,005	44,192	20,636	—	4,005	64,828	68,833	19,478	1911; 1967; 1982	Jan. 2014	24 yrs.
Industrial facilities in Colton, CA; Bonner Springs, KS; Eagan, MN; and Dallas, TX	—	8,451	25,457	—	11,200	8,451	36,657	45,108	9,183	Various	Jan. 2014	17 - 34 yrs.
Retail facility in Torrance, CA	—	8,412	12,241	2,468	(77)	8,335	14,709	23,044	5,863	1973	Jan. 2014	25 yrs.
Warehouse facility in Houston, TX	—	6,578	424	560	—	6,578	984	7,562	733	1978	Jan. 2014	27 yrs.
Warehouse facility in Norwich, CT	—	3,885	21,342	—	2	3,885	21,344	25,229	7,492	1960	Jan. 2014	28 yrs.
Warehouse facility in Norwich, CT	—	1,437	9,669	—	—	1,437	9,669	11,106	3,394	2005	Jan. 2014	28 yrs.
Warehouse facility in Whitehall, PA	—	7,435	9,093	27,148	(9,545)	6,983	27,148	34,131	1,721	2021	Jan. 2014	40 yrs.
Retail facility in York, PA	—	3,776	10,092	—	(6,413)	527	6,928	7,455	2,035	2005	Jan. 2014	34 yrs.
Warehouse facilities in Atlanta, GA and Elkwood, VA	—	5,356	4,121	—	(3,219)	4,284	1,974	6,258	703	1975	Jan. 2014	28 yrs.
Warehouse facility in Harrisburg, NC	—	1,753	5,840	781	(111)	1,642	6,621	8,263	2,347	2000	Jan. 2014	26 yrs.
Industrial facility in Chandler, AZ; and industrial and warehouse facility in Englewood, CO	857	4,306	7,235	—	3	4,306	7,238	11,544	2,372	1978; 1987	Jan. 2014	30 yrs.
Industrial facility in Cynthiana, KY	510	1,274	3,505	525	(107)	1,274	3,923	5,197	1,407	1967	Jan. 2014	31 yrs.
Industrial facilities in Albemarle and Old Fort, NC and Holmesville, OH	—	5,507	18,653	—	—	5,507	18,653	24,160	1,299	1955; 1966; 1970	Jan. 2014	32 yrs.
Industrial facility in Columbia, SC	—	2,843	11,886	—	—	2,843	11,886	14,729	5,218	1962	Jan. 2014	23 yrs.
Retail facility in Midlothian, VA	—	2,824	16,618	—	—	2,824	16,618	19,442	2,969	2000	Jan. 2014	40 yrs.
Specialty facility in Laramie, WY	—	1,966	18,896	—	—	1,966	18,896	20,862	6,456	2007	Jan. 2014	33 yrs.
Warehouse facilities in Mendota, IL; Toppenish, WA; and Plover, WI	—	1,444	21,208	—	(623)	1,382	20,647	22,029	9,132	1996	Jan. 2014	23 yrs.
Land in Sunnyvale, CA	—	9,297	24,086	—	(26,077)	7,306	—	7,306	—	N/A	Jan. 2014	N/A
Industrial facilities in Hampton, NH	—	8,990	7,362	—	—	8,990	7,362	16,352	2,406	1976	Jan. 2014	30 yrs.
Industrial facilities in France	—	36,306	5,212	3,114	4,799	25,290	24,141	49,431	3,810	Various	Jan. 2014	23 yrs.
Retail facility in Lombard, IL	—	5,087	8,578	—	—	5,087	8,578	13,665	3,230	1999	Jan. 2014	26 yrs.
Warehouse facility in Plainfield, IN	—	1,578	29,415	2,176	—	1,578	31,591	33,169	9,873	1997	Jan. 2014	30 yrs.
Retail facility in Kennesaw, GA	—	2,849	6,180	5,530	(76)	2,773	11,710	14,483	4,563	1999	Jan. 2014	26 yrs.
Retail facility in Leawood, KS	—	1,487	13,417	—	—	1,487	13,417	14,904	5,051	1997	Jan. 2014	26 yrs.
Industrial facility in Tolland, CT	—	1,817	5,709	—	11	1,817	5,720	7,537	2,068	1968	Jan. 2014	28 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

				Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
		Initial Cost to Company
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Warehouse facilities in Lincolnton, NC and Mauldin, SC	—	1,962	9,247	—	—	1,962	9,247	11,209	3,265	1988; 1996	Jan. 2014	28 yrs.
Retail facilities in Germany	—	81,109	153,927	10,510	(138,475)	27,233	79,838	107,071	26,426	Various	Jan. 2014	Various
Laboratory facility in The Woodlands, TX	—	3,204	24,997	—	—	3,204	24,997	28,201	7,868	1997	Jan. 2014	32 yrs.
Warehouse facilities in Valdosta, GA and Johnson City, TN	—	1,080	14,998	1,841	—	1,080	16,839	17,919	6,064	1978; 1998	Jan. 2014	27 yrs.
Industrial facility in Amherst, NY	5,446	674	7,971	—	—	674	7,971	8,645	3,526	1984	Jan. 2014	23 yrs.
Industrial and warehouse facilities in Westfield, MA	—	1,922	9,755	7,435	9	1,922	17,199	19,121	6,650	1954; 1997	Jan. 2014	28 yrs.
Warehouse facility in Gorinchem, Netherlands	—	1,143	5,648	131	(1,276)	928	4,718	5,646	1,604	1995	Jan. 2014	28 yrs.
Retail facility in Cresskill, NJ	—	2,366	5,482	—	19	2,366	5,501	7,867	1,751	1975	Jan. 2014	31 yrs.
Retail facility in Livingston, NJ	—	2,932	2,001	—	14	2,932	2,015	4,947	735	1966	Jan. 2014	27 yrs.
Retail facility in Montclair, NJ	—	1,905	1,403	—	6	1,905	1,409	3,314	514	1950	Jan. 2014	27 yrs.
Retail facility in Morristown, NJ	—	3,258	8,352	—	26	3,258	8,378	11,636	3,058	1973	Jan. 2014	27 yrs.
Retail facility in Summit, NJ	—	1,228	1,465	—	8	1,228	1,473	2,701	538	1950	Jan. 2014	27 yrs.
Industrial facilities in Georgetown, TX and Woodland, WA	—	965	4,113	—	—	965	4,113	5,078	1,209	1998; 2001	Jan. 2014	33 - 35 yrs.
Education facilities in Union, NJ; Allentown and Philadelphia, PA; and Grand Prairie, TX	—	5,365	7,845	—	5	5,365	7,850	13,215	2,796	Various	Jan. 2014	28 yrs.
Industrial facility in Salisbury, NC	—	1,499	8,185	—	—	1,499	8,185	9,684	2,924	2000	Jan. 2014	28 yrs.
Industrial facility in Twinsburg, OH	—	2,831	10,565	386	(6,975)	1,293	5,514	6,807	2,000	1991	Jan. 2014	27 yrs.
Industrial facility in Cambridge, Canada	—	1,849	7,371	—	(1,441)	1,560	6,219	7,779	1,974	2001	Jan. 2014	31 yrs.
Industrial facilities in Peru, IL; Huber Heights, Lima, and Sheffield, OH; and Lebanon, TN	—	2,962	17,832	—	—	2,962	17,832	20,794	5,658	Various	Jan. 2014	31 yrs.
Industrial facility in Ramos Arizpe, Mexico	—	1,059	2,886	—	—	1,059	2,886	3,945	913	2000	Jan. 2014	31 yrs.
Industrial facilities in Salt Lake City, UT	—	2,783	3,773	—	—	2,783	3,773	6,556	1,196	1983; 2002	Jan. 2014	31 - 33 yrs.
Specialty facility in Blairsville, PA	—	1,631	23,163	—	—	1,631	23,163	24,794	7,718	2005	Jan. 2014	33 yrs.
Education facility in Mooresville, NC	—	1,795	15,955	—	—	1,795	15,955	17,750	1,465	2002	Jan. 2014	33 yrs.
Warehouse facilities in Atlanta, Doraville, and Rockmart, GA	—	6,488	77,192	—	—	6,488	77,192	83,680	26,827	1959; 1962; 1991	Jan. 2014	23 - 33 yrs.
Warehouse facility in Muskogee, OK	—	554	4,353	—	(3,437)	158	1,312	1,470	397	1992	Jan. 2014	33 yrs.
Industrial facility in Richmond, MO	—	2,211	8,505	747	—	2,211	9,252	11,463	3,293	1996	Jan. 2014	28 yrs.
Industrial facility in Tuusula, Finland	—	6,173	10,321	—	(3,105)	5,011	8,378	13,389	3,258	1975	Jan. 2014	26 yrs.
Warehouse facility in Phoenix, AZ	—	6,747	21,352	380	—	6,747	21,732	28,479	7,901	1996	Jan. 2014	28 yrs.
Land in Calgary, Canada	—	3,721	—	—	(582)	3,139	—	3,139	—	N/A	Jan. 2014	N/A

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Industrial facilities in Kearney, MO; York, NE; Walbridge, OH; Rocky Mount, VA; and Martinsburg, WV	—	4,816	31,712	1,078	—	4,816	32,790	37,606	1,168	Various	Jan. 2014	31 yrs.
Industrial facilities in Sandersville, GA; Erwin, TN; and Gainesville, TX	—	955	4,779	—	—	955	4,779	5,734	1,528	1950; 1986; 1996	Jan. 2014	31 yrs.
Industrial facility in Buffalo Grove, IL	1,960	1,492	12,233	—	—	1,492	12,233	13,725	3,923	1996	Jan. 2014	31 yrs.
Warehouse facility in Carlsbad, CA	—	3,230	5,492	158	—	3,230	5,650	8,880	2,309	1999	Jan. 2014	24 yrs.
Retail facility in Pensacola, FL	—	1,746	—	—	5,181	1,746	5,181	6,927	516	2001	Jan. 2014	33 yrs.
Retail facility in Port St. Lucie, FL	—	4,654	2,576	—	—	4,654	2,576	7,230	934	2000	Jan. 2014	27 yrs.
Industrial facility in Nurieux-Volognat, France	—	121	5,328	157	(925)	98	4,583	4,681	1,357	2000	Jan. 2014	32 yrs.
Industrial facility in Monheim, Germany	—	2,500	5,727	—	(391)	2,386	5,450	7,836	385	1992	Jan. 2014	32 yrs.
Warehouse facility in Suwanee, GA	—	2,330	8,406	—	—	2,330	8,406	10,736	2,463	1995	Jan. 2014	34 yrs.
Retail facilities in Wichita, KS and Oklahoma City, OK and warehouse facility in Wichita, KS	—	1,878	8,579	3,128	(89)	1,878	11,618	13,496	3,877	1954; 1975; 1984	Jan. 2014	24 yrs.
Industrial facilities in Fort Dodge, IA and Menomonie and Oconomowoc, WI	—	1,403	11,098	—	—	1,403	11,098	12,501	6,772	1996	Jan. 2014	16 yrs.
Industrial facility in Mesa, AZ	—	2,888	4,282	—	—	2,888	4,282	7,170	1,558	1991	Jan. 2014	27 yrs.
Industrial facility in North Amityville, NY	—	3,486	11,413	—	—	3,486	11,413	14,899	4,352	1981	Jan. 2014	26 yrs.
Industrial facility in Fort Collins, CO	—	821	7,236	—	—	821	7,236	8,057	2,185	1993	Jan. 2014	33 yrs.
Warehouse facility in Elk Grove Village, IL	—	4,037	7,865	—	—	4,037	7,865	11,902	1,536	1980	Jan. 2014	22 yrs.
Research and development facility in Washington, MI	—	4,085	7,496	—	—	4,085	7,496	11,581	2,269	1990	Jan. 2014	33 yrs.
Industrial facilities in Conroe, Odessa, and Weimar, TX and industrial and office facility in Houston, TX	—	4,049	13,021	—	133	4,049	13,154	17,203	6,987	Various	Jan. 2014	12 - 22 yrs.
Education facility in Sacramento, CA	—	—	13,715	—	—	—	13,715	13,715	4,070	2005	Jan. 2014	34 yrs.
Industrial facility in Sankt Ingbert, Germany	—	2,226	17,460	—	314	2,261	17,739	20,000	1,933	1960	Jan. 2014	34 yrs.
Industrial facilities in City of Industry, CA; Chelmsford, MA; and Lancaster, TX	—	5,138	8,387	—	43	5,138	8,430	13,568	3,016	1969; 1974; 1984	Jan. 2014	27 yrs.
Office facility in Tinton Falls, NJ	—	1,958	7,993	725	—	1,958	8,718	10,676	2,780	2001	Jan. 2014	31 yrs.
Industrial facility in Woodland, WA	—	707	1,562	—	—	707	1,562	2,269	439	2009	Jan. 2014	35 yrs.
Warehouse facilities in Gyál and Herceghalom, Hungary	—	14,601	21,915	—	(6,874)	11,852	17,790	29,642	8,640	2002; 2004	Jan. 2014	21 yrs.
Industrial facility in Windsor, CT	—	453	637	3,422	(83)	453	3,976	4,429	774	1999	Jan. 2014	33 yrs.
Industrial facility in Aurora, CO	—	574	3,999	—	—	574	3,999	4,573	1,010	2012	Jan. 2014	40 yrs.
Warehouse facility in University Park, IL	—	7,962	32,756	221	—	7,962	32,977	40,939	9,066	2008	May 2014	40 yrs.
Laboratory facility in Westborough, MA	—	3,409	37,914	53,065	—	3,409	90,979	94,388	15,252	1992	Aug. 2014	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Research and development facility in Andover, MA	—	3,980	45,120	323	—	3,980	45,443	49,423	11,154	2013	Oct. 2014	40 yrs.
Industrial facility in Lewisburg, OH	—	1,627	13,721	—	—	1,627	13,721	15,348	3,525	2014	Nov. 2014	40 yrs.
Industrial facility in Opole, Poland	—	2,151	21,438	—	(2,625)	1,912	19,052	20,964	5,052	2014	Dec. 2014	38 yrs.
Retail facilities in the United Kingdom	—	66,319	230,113	277	(88,095)	44,895	163,719	208,614	48,872	Various	Jan. 2015	20 - 40 yrs.
Warehouse facility in Rotterdam, Netherlands	—	—	33,935	20,842	(1,418)	—	53,359	53,359	10,205	2014	Feb. 2015	40 yrs.
Retail facility in Bad Fischau, Austria	—	2,855	18,829	—	552	2,928	19,308	22,236	4,726	1998	Apr. 2015	40 yrs.
Industrial facility in Oskarshamn, Sweden	—	3,090	18,262	—	(3,784)	2,542	15,026	17,568	3,527	2015	Jun. 2015	40 yrs.
Industrial facilities in Gersthofen and Senden, Germany and Leopoldsdorf, Austria	—	9,449	15,838	—	(187)	9,379	15,721	25,100	3,850	2008; 2010	Aug. 2015	40 yrs.
Net-lease hotels in the United States	—	—	49,190	17,396	—	17,396	49,190	66,586	11,802	1988; 1989; 1990	Oct. 2015	38 - 40 yrs.
Retail facilities in the Netherlands	—	5,698	38,130	79	1,264	5,862	39,309	45,171	9,917	Various	Nov. 2015	30 - 40 yrs.
Specialty facility in Irvine, CA	—	7,626	16,137	—	—	7,626	16,137	23,763	3,373	1977	Dec. 2015	40 yrs.
Education facility in Windermere, FL	—	5,090	34,721	15,333	—	5,090	50,054	55,144	12,548	1998	Apr. 2016	38 yrs.
Industrial facilities in the United States	—	66,845	87,575	65,400	(56,525)	49,672	113,623	163,295	31,830	Various	Apr. 2016	Various
Industrial facilities in North Dumfries and Ottawa, Canada	—	17,155	10,665	—	(18,393)	5,847	3,580	9,427	1,753	1967; 1974	Apr. 2016	28 yrs.
Education facilities in Coconut Creek, FL and Houston, TX	—	15,550	83,862	63,830	—	15,550	147,692	163,242	31,111	1979; 1984	May 2016	37 - 40 yrs.
Office facility in Southfield, MI and warehouse facilities in London, KY and Gallatin, TN	—	3,585	17,254	—	—	3,585	17,254	20,839	3,495	1969; 1987; 2000	Nov. 2016	35 - 36 yrs.
Industrial facilities in Brampton, Toronto, and Vaughan, Canada	—	28,759	13,998	—	—	28,759	13,998	42,757	3,379	Various	Nov. 2016	28 - 35 yrs.
Industrial facilities in Queretaro and San Juan del Rio, Mexico	—	5,152	12,614	2,440	—	5,152	15,054	20,206	2,530	Various	Dec. 2016	28 - 40 yrs.
Industrial facility in Chicago, IL	—	2,222	2,655	3,511	—	2,222	6,166	8,388	2,050	1985	Jun. 2017	30 yrs.
Industrial facility in Zawiercie, Poland	—	395	102	10,378	(573)	374	9,928	10,302	1,412	2018	Aug. 2017	40 yrs.
Industrial facility in Radomsko, Poland	—	1,718	59	37,496	731	1,630	38,374	40,004	2,704	2018	Nov. 2017	40 yrs.
Warehouse facility in Sellersburg, IN	—	1,016	3,838	—	—	1,016	3,838	4,854	781	2000	Feb. 2018	36 yrs.
Retail and warehouse facilities in Appleton, Madison, and Waukesha, WI	—	5,512	61,230	—	—	5,465	61,277	66,742	10,931	1995; 2004	Mar. 2018	36 - 40 yrs.
Warehouse facilities in Denmark	—	20,304	185,481	—	(14,902)	19,001	171,882	190,883	29,557	Various	Jun. 2018	25 - 41 yrs.
Retail facilities in the Netherlands	—	38,475	117,127	—	(7,924)	36,516	111,162	147,678	21,546	Various	Jul. 2018	26 - 30 yrs.
Industrial facility in Oostburg, WI	—	786	6,589	—	—	786	6,589	7,375	1,526	2002	Jul. 2018	35 yrs.
Warehouse facility in Kampen, Netherlands	—	3,251	12,858	126	(750)	3,100	12,385	15,485	2,722	1976	Jul. 2018	26 yrs.
Warehouse facility in Azambuja, Portugal	—	13,527	35,631	28,051	(3,988)	12,912	60,309	73,221	9,122	1994	Sep. 2018	28 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Retail facilities in Amsterdam, Moordrecht, and Rotterdam, Netherlands	—	2,582	18,731	11,338	(934)	2,507	29,210	31,717	4,732	Various	Oct. 2018	27 - 37 yrs.
Warehouse facility in Bad Wünnenberg, Germany	—	2,916	39,687	—	(22,500)	1,266	18,837	20,103	2,542	1996	Oct. 2018	40 yrs.
Industrial facility in Norfolk, NE	—	802	3,686	—	—	802	3,686	4,488	646	1975	Oct. 2018	40 yrs.
Retail facilities in Phoenix, AZ and Columbia, MD	—	18,286	33,030	—	—	18,286	33,030	51,316	4,532	2006	Oct. 2018	40 yrs.
Retail facility in Gorzow, Poland	—	1,736	8,298	—	(302)	1,684	8,048	9,732	1,197	2008	Oct. 2018	40 yrs.
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX	—	6,460	49,462	—	—	6,460	49,462	55,922	7,349	Various	Oct. 2018	40 yrs.
Industrial facility in Glendale Heights, IL	—	4,237	45,484	—	—	4,237	45,484	49,721	4,195	1991	Oct. 2018	38 yrs.
Industrial facilities in Mayodan, Sanford, and Stoneville, NC	—	3,505	20,913	—	—	3,505	20,913	24,418	2,877	1992; 1997; 1998	Oct. 2018	29 yrs.
Warehouse facility in Dillon, SC	—	3,424	43,114	—	—	3,424	43,114	46,538	6,405	2001	Oct. 2018	40 yrs.
Specialty facility in Birmingham, United Kingdom	—	7,383	7,687	—	(240)	7,266	7,564	14,830	1,026	2009	Oct. 2018	40 yrs.
Retail facilities in Spain	—	17,626	44,501	—	(1,870)	17,096	43,161	60,257	6,041	Various	Oct. 2018	40 yrs.
Warehouse facility in Gadki, Poland	—	1,376	6,137	—	(226)	1,335	5,952	7,287	841	2011	Oct. 2018	40 yrs.
Warehouse facility in Zagreb, Croatia	—	15,789	33,287	—	(1,478)	15,313	32,285	47,598	6,632	2001	Oct. 2018	26 yrs.
Industrial facilities in Middleburg Heights and Union Township, OH	3,439	1,295	13,384	—	—	1,295	13,384	14,679	1,820	1990; 1997	Oct. 2018	40 yrs.
Retail facility in Las Vegas, NV	—	—	79,720	—	—	—	79,720	79,720	10,319	2012	Oct. 2018	40 yrs.
Industrial facilities in the United States	—	20,517	14,135	—	30,060	22,585	42,127	64,712	4,598	Various	Oct. 2018	40 yrs.
Warehouse facility in Bowling Green, KY	—	2,652	51,915	72,976	(11)	2,652	124,880	127,532	10,960	2011	Oct. 2018	40 yrs.
Warehouse facilities in the United Kingdom	—	6,791	2,315	—	(145)	6,683	2,278	8,961	346	Various	Oct. 2018	40 yrs.
Industrial facility in Evansville, IN	—	180	22,095	—	—	180	22,095	22,275	2,929	2009	Oct. 2018	40 yrs.
Warehouse facility in Elorrio, Spain	—	7,858	12,728	—	(619)	7,622	12,345	19,967	1,931	1996	Oct. 2018	40 yrs.
Industrial and office facilities in Elberton, GA	—	879	2,014	—	—	879	2,014	2,893	375	1997; 2002	Oct. 2018	40 yrs.
Retail facilities in Dugo Selo, Kutina, Samobor, Spansko, and Zagreb, Croatia	—	5,549	12,408	1,691	5,937	6,602	18,983	25,585	3,711	2000; 2002; 2003	Oct. 2018	26 yrs.
Office and warehouse facilities in the United States	—	42,793	193,666	—	—	42,793	193,666	236,459	27,795	Various	Oct. 2018	40 yrs.
Warehouse facilities in Breda, Elst, Gieten, Raalte, and Woerden, Netherlands	—	37,755	91,666	4,787	(3,872)	36,619	93,717	130,336	12,321	Various	Oct. 2018	40 yrs.
Warehouse facilities in Oxnard and Watsonville, CA	—	22,453	78,814	—	—	22,453	78,814	101,267	10,781	1975; 1994; 2002	Oct. 2018	40 yrs.
Retail facilities in Italy	—	75,492	138,280	7,242	(7,124)	73,219	140,671	213,890	20,168	Various	Oct. 2018	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Land in Hudson, NY	—	2,405	—	—	—	2,405	—	2,405	—	N/A	Oct. 2018	N/A
Land in Chicago, IL	—	9,887	—	—	—	9,887	—	9,887	—	N/A	Oct. 2018	N/A
Industrial facility in Fraser, MI	—	1,346	9,551	—	—	1,346	9,551	10,897	1,345	2012	Oct. 2018	40 yrs.
Net-lease self-storage facilities in the United States	—	19,583	108,971	—	—	19,583	108,971	128,554	15,973	Various	Oct. 2018	40 yrs.
Warehouse facility in Middleburg Heights, OH	—	542	2,507	—	—	542	2,507	3,049	341	2002	Oct. 2018	40 yrs.
Net-lease self-storage facility in Fort Worth, TX	—	691	6,295	—	—	691	6,295	6,986	944	2004	Oct. 2018	40 yrs.
Retail facilities in Delnice, Pozega, and Sesvete, Croatia	—	5,519	9,930	1,403	(651)	5,353	10,848	16,201	2,211	2011	Oct. 2018	27 yrs.
Retail facility in Orlando, FL	—	6,262	25,134	430	—	6,371	25,455	31,826	3,338	2011	Oct. 2018	40 yrs.
Industrial facility in Avon, OH	—	1,447	5,564	—	—	1,447	5,564	7,011	821	2001	Oct. 2018	40 yrs.
Industrial facility in Chimelow, Poland	—	6,158	28,032	—	(1,029)	5,973	27,188	33,161	3,853	2012	Oct. 2018	40 yrs.
Net-lease self-storage facility in Fayetteville, NC	—	1,839	4,654	—	—	1,839	4,654	6,493	890	2001	Oct. 2018	40 yrs.
Retail facilities in the United States	—	19,529	42,318	—	(7,938)	17,297	36,612	53,909	5,267	Various	Oct. 2018	40 yrs.
Education facilities in Montgomery, AL and Savannah, GA	—	5,508	12,032	—	—	5,508	12,032	17,540	1,705	1969; 2002	Oct. 2018	40 yrs.
Office facilities in St. Louis, MO	—	1,297	5,362	7,951	—	1,836	12,774	14,610	2,049	1995; 1999	Oct. 2018; Aug. 2021	40 yrs.
Warehouse facility in Zary, Poland	—	2,062	10,034	—	(365)	2,000	9,731	11,731	1,414	2013	Oct. 2018	40 yrs.
Industrial facilities in San Antonio, TX and Sterling, VA	—	3,198	23,981	78,728	(462)	6,767	98,678	105,445	9,761	1980; 2020	Oct. 2018; Dec. 2018	40 yrs.
Industrial facility in Elk Grove Village, IL	—	5,511	10,766	2,413	—	5,511	13,179	18,690	1,491	1961	Oct. 2018	40 yrs.
Industrial facility in Portage, WI	3,693	3,450	7,797	—	—	3,450	7,797	11,247	1,218	1970	Oct. 2018	40 yrs.
Warehouse facility in Saitama Prefecture, Japan	—	13,507	25,301	6,639	(13,574)	10,286	21,587	31,873	2,828	2007	Oct. 2018	40 yrs.
Retail facility in Dallas, TX	—	2,977	16,168	—	—	2,977	16,168	19,145	2,148	1913	Oct. 2018	40 yrs.
Retail facilities in Croatia	—	9,000	13,002	1,415	(5,178)	7,568	10,671	18,239	1,932	Various	Oct. 2018	29 - 37 yrs.
Retail facility in Northbrook, IL	—	—	493	447	—	—	940	940	291	2007	Oct. 2018	40 yrs.
Education facility in Chicago, IL	—	18,510	163	—	(16,859)	1,793	21	1,814	13	2015	Oct. 2018	40 yrs.
Warehouse facility in Dillon, SC	—	3,516	44,933	—	—	3,516	44,933	48,449	6,625	2013	Oct. 2018	40 yrs.
Net-lease self-storage facilities in New York City, NY	—	29,223	77,202	714	—	29,223	77,916	107,139	10,156	Various	Oct. 2018	40 yrs.
Net-lease self-storage facility in Hilo, HI	—	769	12,869	—	—	769	12,869	13,638	1,687	2007	Oct. 2018	40 yrs.
Net-lease self-storage facility in Clearwater, FL	—	1,247	5,733	—	—	1,247	5,733	6,980	856	2001	Oct. 2018	40 yrs.
Warehouse facilities in Gadki, Poland	—	10,422	47,727	57	(1,751)	10,108	46,347	56,455	6,662	2007; 2010	Oct. 2018	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Net-lease self-storage facility in Orlando, FL	—	1,070	8,686	—	—	1,070	8,686	9,756	1,222	2000	Oct. 2018	40 yrs.
Retail facility in Lewisville, TX	—	3,485	11,263	—	—	3,485	11,263	14,748	1,558	2004	Oct. 2018	40 yrs.
Research and development facility in Wageningen, Netherlands	—	5,227	18,793	—	(447)	5,070	18,503	23,573	2,620	2013	Oct. 2018	40 yrs.
Net-lease self-storage facility in Palm Coast, FL	—	1,994	4,982	—	—	1,994	4,982	6,976	871	2001	Oct. 2018	40 yrs.
Net-lease self-storage facility in Holiday, FL	—	1,730	4,213	—	—	1,730	4,213	5,943	719	1975	Oct. 2018	40 yrs.
Research and development facility in Drunen, Netherlands	—	2,316	9,370	—	(351)	2,247	9,088	11,335	1,253	2014	Oct. 2018	40 yrs.
Industrial facility New Concord, OH	1,189	958	2,309	—	—	958	2,309	3,267	388	1999	Oct. 2018	40 yrs.
Retail facility in Gelsenkirchen, Germany	—	2,178	17,097	—	(580)	2,112	16,583	18,695	2,280	2000	Oct. 2018	40 yrs.
Warehouse facilities in Mszczonow and Tomaszow Mazowiecki, Poland	—	8,782	53,575	—	(1,877)	8,518	51,962	60,480	7,740	1995; 2000	Oct. 2018	40 yrs.
Warehouse facility in Sered, Slovakia	—	3,428	28,005	—	(946)	3,325	27,162	30,487	3,771	2004	Oct. 2018	40 yrs.
Industrial facility in Tuchomerice, Czech Republic	—	7,864	27,006	—	(1,050)	7,627	26,193	33,820	3,589	1998	Oct. 2018	40 yrs.
Office facility in Warsaw, Poland	29,901	—	44,990	42	(15,734)	—	29,298	29,298	5,833	2015	Oct. 2018	40 yrs.
Warehouse facility in Kaunas, Lithuania	35,382	10,199	47,391	—	(1,734)	9,892	45,964	55,856	6,451	2008	Oct. 2018	40 yrs.
Specialty facility in Jacksonville, FL	11,429	906	17,020	—	—	906	17,020	17,926	2,275	2015	Oct. 2018	40 yrs.
Warehouse facilities in Houston, TX	—	791	1,990	—	—	791	1,990	2,781	291	1972	Oct. 2018	40 yrs.
Warehouse facilities in Shelbyville, IN; Kalamazoo, MI; Tiffin, OH; Andersonville, TN; and Millwood, WV	—	2,868	37,571	—	—	2,868	37,571	40,439	5,613	Various	Oct. 2018	40 yrs.
Warehouse facility in Perrysburg, OH	—	806	11,922	—	—	806	11,922	12,728	1,839	1974	Oct. 2018	40 yrs.
Warehouse facility in Dillon, SC	—	620	46,319	434	—	620	46,753	47,373	5,591	2019	Oct. 2018	40 yrs.
Warehouse facility in Zabia Wola, Poland	14,476	4,742	23,270	5,636	(983)	4,599	28,066	32,665	3,831	1999	Oct. 2018	40 yrs.
Laboratory facility in Buffalo Grove, IL	—	2,224	6,583	—	—	2,224	6,583	8,807	929	1992	Oct. 2018	40 yrs.
Warehouse facilities in McHenry, IL	—	5,794	21,141	—	—	5,794	21,141	26,935	4,412	1990; 1999	Dec. 2018	27 - 28 yrs.
Industrial facilities in Chicago, Cortland, Forest View, Morton Grove, and Northbrook, IL and Madison and Monona, WI	—	23,267	9,166	—	—	23,267	9,166	32,433	1,826	Various	Dec. 2018; Dec. 2019	35 - 40 yrs.
Warehouse facility in Kilgore, TX	—	3,002	36,334	14,096	(6)	3,002	50,424	53,426	6,885	2007	Dec. 2018	37 yrs.
Industrial facility in San Luis Potosi, Mexico	—	2,787	12,945	—	—	2,787	12,945	15,732	1,906	2009	Dec. 2018	39 yrs.
Industrial facility in Legnica, Poland	—	995	9,787	6,007	(523)	963	15,303	16,266	2,495	2002	Dec. 2018	29 yrs.
Industrial facility in Meru, France	—	4,231	14,731	8	(545)	4,109	14,316	18,425	2,709	1997	Dec. 2018	29 yrs.
Education facility in Portland, OR	—	2,396	23,258	4,177	—	2,396	27,435	29,831	4,276	2006	Feb. 2019	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Warehouse facility in Inwood, WV	—	3,265	36,692	—	—	3,265	36,692	39,957	4,830	2000	Mar. 2019	40 yrs.
Industrial facility in Hurricane, UT	—	1,914	37,279	—	—	1,914	37,279	39,193	4,642	2011	Mar. 2019	40 yrs.
Industrial facility in Bensenville, IL	—	8,640	4,948	—	300	8,940	4,948	13,888	990	1981	Mar. 2019	40 yrs.
Industrial facility in Katowice, Poland	—	—	764	15,163	72	—	15,999	15,999	1,638	2019	Apr. 2019	40 yrs.
Industrial facilities in Westerville, OH and North Wales, PA	—	1,545	6,508	—	—	1,545	6,508	8,053	999	1960; 1997	May 2019	40 yrs.
Industrial facilities in Fargo, ND; Norristown, PA; and Atlanta, TX	—	1,616	5,589	—	—	1,616	5,589	7,205	1,004	Various	May 2019	40 yrs.
Industrial facilities in Chihuahua and Juarez, Mexico	—	3,426	7,286	—	—	3,426	7,286	10,712	1,233	1983; 1986; 1991	May 2019	40 yrs.
Warehouse facility in Statesville, NC	—	1,683	13,827	—	—	1,683	13,827	15,510	1,906	1979	Jun. 2019	40 yrs.
Industrial facilities in Searcy, AR and Conestoga, PA	—	4,290	51,410	21,027	—	4,678	72,049	76,727	9,039	1950; 1951	Jun. 2019; Apr. 2021	40 yrs.
Industrial facilities in Hartford and Milwaukee, WI	—	1,471	21,293	—	—	1,471	21,293	22,764	2,841	1964; 1992; 1993	Jul. 2019	40 yrs.
Industrial facilities in Brockville and Prescott, Canada	—	2,025	9,519	—	—	2,025	9,519	11,544	1,278	1955; 1995	Jul. 2019	40 yrs.
Industrial facility in Dordrecht, Netherlands	—	3,233	10,954	—	72	3,253	11,006	14,259	1,204	1986	Sep. 2019	40 yrs.
Industrial facilities in York, PA and Lexington, SC	—	4,155	22,930	—	—	4,155	22,930	27,085	3,401	1968; 1971	Oct. 2019	40 yrs.
Industrial facility in Queretaro, Mexico	—	2,851	12,748	—	(3)	2,851	12,745	15,596	1,707	1999	Oct. 2019	40 yrs.
Industrial facilities in Houston, TX and Metairie, LA and office facilities in Houston, TX and Mason, OH	—	6,130	24,981	2,145	—	6,130	27,126	33,256	3,240	Various	Nov. 2019	40 yrs.
Industrial facility in Pardubice, Czech Republic	—	1,694	8,793	436	3	1,698	9,228	10,926	1,016	1970	Nov. 2019	40 yrs.
Warehouse facilities in Brabrand, Denmark and Arlandastad, Sweden	—	6,499	27,899	147	(492)	6,362	27,691	34,053	3,153	2012; 2017	Nov. 2019	40 yrs.
Retail facility in Hamburg, PA	—	4,520	34,167	—	—	4,520	34,167	38,687	3,992	2003	Dec. 2019	40 yrs.
Warehouse facility in Charlotte, NC	—	6,481	82,936	—	—	6,481	82,936	89,417	9,475	1995	Dec. 2019	40 yrs.
Warehouse facility in Buffalo Grove, IL	—	3,287	10,167	—	—	3,287	10,167	13,454	1,295	1987	Dec. 2019	40 yrs.
Industrial facility in Hvidovre, Denmark	—	1,931	4,243	—	(53)	1,923	4,198	6,121	601	2007	Dec. 2019	40 yrs.
Warehouse facility in Huddersfield, United Kingdom	—	8,659	29,752	—	(1,423)	8,338	28,650	36,988	3,038	2005	Dec. 2019	40 yrs.
Warehouse facility in Newark, United Kingdom	—	21,869	74,777	—	(3,098)	21,168	72,380	93,548	7,213	2006	Jan. 2020	40 yrs.
Industrial facility in Langen, Germany	—	14,160	7,694	32,169	(4,271)	12,909	36,843	49,752	2,677	2021	Jan. 2020	40 yrs.
Industrial facility in Aurora, OR	—	2,914	21,459	—	(5,000)	2,914	16,459	19,373	1,620	1976	Jan. 2020	40 yrs.
Warehouse facility in Vojens, Denmark	—	1,031	8,784	—	24	1,033	8,806	9,839	863	2020	Jan. 2020	40 yrs.
Office facility in Kitzingen, Germany	—	4,812	41,125	—	(1,631)	4,642	39,664	44,306	3,782	1967	Mar. 2020	40 yrs.
Warehouse facility in Knoxville, TN	—	2,455	47,446	—	—	2,455	47,446	49,901	4,174	2020	Jun. 2020	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Industrial facilities in Bluffton and Plymouth, IN; and Lawrence, KS	—	674	33,519	20,542	—	1,064	53,671	54,735	3,782	1981; 2014; 2021	Sep 2020; Dec. 2021	40 yrs.
Industrial facility in Huntley, IL	—	5,260	26,617	—	—	5,260	26,617	31,877	2,165	1996	Sep. 2020	40 yrs.
Industrial facilities in Winter Haven, FL; Belvedere, IL; and Fayetteville, NC	—	8,232	31,745	—	—	8,232	31,745	39,977	2,557	1954; 1984; 1997	Oct. 2020	40 yrs.
Retail facilities in Spain	—	34,216	57,151	239	(5,061)	32,321	54,224	86,545	4,300	Various	Oct. 2020	40 yrs.
Warehouse facility in Little Canada, MN	—	3,384	23,422	—	—	3,384	23,422	26,806	1,857	1987	Oct. 2020	40 yrs.
Warehouse facility in Hurricane, UT	—	5,154	22,893	20,517	—	5,154	43,410	48,564	2,688	2005	Dec. 2020	40 yrs.
Industrial facilities in Bethlehem, PA and Waco, TX	—	4,673	19,111	—	—	4,673	19,111	23,784	1,462	Various	Dec. 2020	40 yrs.
Industrial facilities in Pleasanton, KS; Savage, MN; Grove City, OH; and Mahanoy City, PA	—	7,717	21,569	—	—	7,717	21,569	29,286	1,618	Various	Dec. 2020	40 yrs.
Specialty facilities in Fort Washington, Huntington Valley, and West Chester, PA	—	—	492	—	—	—	492	492	36	2011; 2014; 2016	Jan. 2021	40 yrs.
Warehouse facilities in Grove City, OH and Anderson, SC	—	1,415	15,151	—	—	1,415	15,151	16,566	1,103	1995; 2001	Feb. 2021	40 yrs.
Office and retail facilities in NJ and PA	—	17,537	25,987	—	—	17,537	25,987	43,524	1,876	Various	Feb. 2021	40 yrs.
Land and warehouse facilities in CA	—	8,513	45,669	6	—	8,516	45,672	54,188	3,300	Various	Feb. 2021	40 yrs.
Research and development facility in Wageningen, Netherlands	—	1,429	5,777	18,658	2,223	1,548	26,539	28,087	987	2022	Mar. 2021	40 yrs.
Retail facilities in France	—	15,954	104,578	—	(7,141)	15,009	98,382	113,391	6,772	1968; 1981; 1983	Apr. 2021	40 yrs.
Warehouse facility in Detroit, MI	—	3,625	47,743	—	—	3,625	47,743	51,368	3,201	1991	Apr. 2021	40 yrs.
Warehouse facility in Solihull, United Kingdom	—	42,137	123,315	—	(13,601)	38,673	113,178	151,851	7,535	2021	May 2021	40 yrs.
Specialty facility in New Rochelle, NY	—	3,617	21,590	—	—	3,617	21,590	25,207	1,436	2018	May 2021	40 yrs.
Industrial facility in Groveport, OH	—	—	26,639	2,904	—	—	29,543	29,543	1,905	1982	May 2021	40 yrs.
Industrial facility in Dakota, IL	—	1,970	50,369	—	—	1,970	50,369	52,339	3,326	1978	May 2021	40 yrs.
Industrial facility in San Jose, CA	—	12,808	31,714	—	—	12,808	31,714	44,522	2,092	1984	May 2021	40 yrs.
Warehouse facility in Opelika, AL	—	2,115	39,980	—	—	2,115	39,980	42,095	2,569	2005	Jun. 2021	40 yrs.
Warehouse facilities in Elk Grove Village and Niles, IL; and Guelph, Canada	—	12,932	25,096	—	—	12,932	25,096	38,028	1,609	1962; 1976; 1983	Jun. 2021	40 yrs.
Warehouse facility in Rome, NY	—	1,480	47,781	—	—	1,480	47,781	49,261	3,060	2021	Jun. 2021	40 yrs.
Warehouse facility in Frankfort, IN	—	5,423	95,915	—	—	5,423	95,915	101,338	5,637	2015	Aug. 2021	40 yrs.
Warehouse facility in Rogers, MN	—	1,871	20,959	—	—	1,871	20,959	22,830	1,212	2005	Sep. 2021	40 yrs.
Industrial facilities in Chattanooga, TN	—	4,859	29,302	—	—	4,859	29,302	34,161	1,614	2006; 2017	Oct. 2021	40 yrs.
Warehouse facility in Mankato, MN	—	2,979	11,619	—	—	2,979	11,619	14,598	621	1976	Nov. 2021	40 yrs.
Retail facilities in Denmark	—	2,695	38,428	—	(843)	2,639	37,641	40,280	1,947	Various	Dec. 2021	40 yrs.
Retail facilities in Poland	—	15,110	47,511	—	(1,178)	14,826	46,617	61,443	2,385	Various	Dec. 2021	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which  Carried at Close of Period (c) (d)			Accumulated Depreciation (d)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances	Land	Buildings			Land	Buildings	Total
Industrial facility in Cary, IL	—	4,568	31,977	—	—	4,568	31,977	36,545	1,608	1975	Dec. 2021	40 yrs.
Retail facilities in the Netherlands	—	9,342	32,770	—	(942)	9,133	32,037	41,170	1,608	Various	Dec. 2021	40 yrs.
Specialty facilities in Flemington and Pennsauken, NJ	—	1,025	397	832	—	1,025	1,229	2,254	49	Various	Dec. 2021	40 yrs.
Industrial facility in Pleasant Prairie, WI	—	1,443	16,532	—	—	1,443	16,532	17,975	816	2001	Jan. 2022	40 yrs.
Specialty facilities in Spain	—	26,735	99,822	—	(2,647)	26,176	97,734	123,910	4,666	Various	Feb. 2022	40 yrs.
Retail facilities in Denmark	—	3,295	35,898	—	(206)	3,260	35,727	38,987	1,539	Various	Various	40 yrs.
Industrial facility in Laval, Canada	—	4,014	16,037	—	(828)	3,848	15,375	19,223	718	1966	Feb. 2022	40 yrs.
Warehouse facility in Chattanooga, TN	—	5,063	36,645	26,128	—	5,063	62,773	67,836	1,677	2003	Mar. 2022	40 yrs.
Industrial facility in Coatzacoalcos, Mexico	—	9,805	17,622	—	—	9,805	17,622	27,427	741	1960	Apr. 2022	40 yrs.
Industrial facility in Lowbanks, CA	—	3,574	1,605	—	—	3,574	1,605	5,179	67	1967	Apr. 2022	40 yrs.
Industrial facilities in Chicago, IL; Geismar, LA; and Nashville, TN	—	9,300	26,945	—	—	9,300	26,945	36,245	1,111	Various	May 2022	40 yrs.
Industrial and warehouse facilities in the United States	—	9,847	88,227	—	—	9,847	88,227	98,074	3,596	Various	May 2022	40 yrs.
Retail facilities in Denmark	—	2,228	31,774	—	1,406	2,322	33,086	35,408	1,285	Various	Various	40 yrs.
Industrial facility in Medina, OH	—	2,029	22,938	—	—	2,029	22,938	24,967	885	1963	Jun. 2022	40 yrs.
Warehouse facility in Bree, Belgium	—	—	73,302	42	4,684	—	78,028	78,028	2,939	1964	Jun. 2022	40 yrs.
Retail facilities in Spain	—	4,906	12,825	—	1,479	5,315	13,895	19,210	503	Various	Jul. 2022	40 yrs.
Industrial and warehouse facilities in the United States	—	27,543	192,197	—	—	27,543	192,197	219,740	6,898	Various	Jul. 2022	40 yrs.
Retail facilities in Denmark	—	2,690	33,703	—	2,584	2,883	36,094	38,977	1,209	Various	Various	40 yrs.
Office facility in Austin, TX	—	31,095	45,393	—	—	31,095	45,393	76,488	1,611	1993	Aug. 2022	40 yrs.
Land in Chicago, IL	1,849	3,873	—	—	—	3,873	—	3,873	—	N/A	Aug. 2022	N/A
Retail facilities in Croatia	—	1,367	23,337	—	1,973	1,476	25,201	26,677	894	2001; 2006	Aug. 2022	40 yrs.
Warehouse in Streetsboro, OH	2,474	2,435	9,333	—	—	2,435	9,333	11,768	331	1993	Aug. 2022	40 yrs.
Warehouse in University Park, IL	47,216	15,377	63,299	3,290	—	15,377	66,589	81,966	2,246	2003	Aug. 2022	40 yrs.
Industrial facilities in Surprise, AZ; Temple, GA; and Houston, TX	9,390	2,994	26,100	—	—	2,994	26,100	29,094	926	1998; 2007; 2011	Aug. 2022	40 yrs.
Warehouse facility in Jonesville, SC	25,441	2,895	32,152	—	—	2,895	32,152	35,047	1,141	1997	Aug. 2022	40 yrs.
Warehouse facility in Albany, GA	5,174	3,108	12,220	—	—	3,108	12,220	15,328	434	1977	Aug. 2022	40 yrs.
Industrial facilities in Dallas/Forth Worth, TX	4,241	3,918	9,817	—	—	3,918	9,817	13,735	348	1990; 2008	Aug. 2022	40 yrs.
Warehouse facility in Byron Center, MI	6,366	1,925	10,098	—	—	1,925	10,098	12,023	358	2015	Aug. 2022	40 yrs.
Net-lease hotel in Albion, Mauritius	8,363	7,633	29,274	—	2,947	8,243	31,611	39,854	1,122	2007	Aug. 2022	40 yrs.
Net-lease hotel in Munich, Germany	—	17,892	61,405	—	6,331	19,320	66,308	85,628	2,353	2016	Aug. 2022	40 yrs.
Industrial facility in Plymouth, MN	10,189	3,693	13,242	457	—	3,693	13,699	17,392	490	1975	Aug. 2022	40 yrs.
Net-lease hotel in Hamburg, Germany	16,479	7,328	17,467	—	1,981	7,914	18,862	26,776	669	2017	Aug. 2022	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (a)		Increase  (Decrease) in Net Investments (b)		Gross Amount at which  Carried at Close of Period (c) (d)						Accumulated Depreciation (d)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of  Income is Computed
Description	Encumbrances		Land		Buildings						Land		Buildings		Total
Retail facility in Oslo, Norway	52,906		27,948		64,033		930		(4,841)		26,483		61,587		88,070		2,234		1971	Aug. 2022	40 yrs.
Industrial facility in Michalovce, Slovakia	—		4,538		19,009		—		1,881		4,901		20,527		25,428		728		2006	Aug. 2022	40 yrs.
Net-lease hotel in Stuttgart, Germany	—		—		31,276		—		2,497		—		33,773		33,773		1,198		1965	Aug. 2022	40 yrs.
Industrial facility in Menomonee Falls, WI	11,677		2,726		17,453		—		—		2,726		17,453		20,179		619		1974	Aug. 2022	40 yrs.
Warehouse facility in Iowa Falls, IA	6,192		997		8,819		—		—		997		8,819		9,816		313		2001	Aug. 2022	40 yrs.
Warehouse facility in Westlake, OH	—		1,928		24,353		—		—		1,928		24,353		26,281		861		1972	Aug. 2022	40 yrs.
Industrial facility in Hebron, Ohio and warehouse facility in Strongsville, OH	—		4,671		5,494		—		—		4,671		5,494		10,165		192		1969; 1999	Aug. 2022	40 yrs.
Warehouse facility in Scarborough, Canada	—		5,092		1,868		—		—		5,092		1,868		6,960		65		1980	Aug. 2022	40 yrs.
Specialty facilities in West Des Moines, IA and Clifton Park, NY	—		3,229		17,080		—		—		3,229		17,080		20,309		593		1971; 2021	Aug. 2022	40 yrs.
Industrial facility in Orzinuovi, Italy	—		2,473		9,892		—		1,289		2,731		10,923		13,654		369		1978	Aug. 2022	40 yrs.
Specialty facilities in West Chester, PA	—		—		559		—		—		—		559		559		24		2022	Oct. 2022	40 yrs.
Industrial facilities in the United States	—		11,117		41,107		—		—		11,117		41,107		52,224		1,059		Various	Dec. 2022	40 yrs.
Warehouse facility in Romulus, MI	—		2,788		33,353		—		—		2,788		33,353		36,141		838		2017	Dec. 2022	40 yrs.
Industrial facility in Salisbury, NC	—		1,308		13,082		—		—		1,308		13,082		14,390		329		2015	Dec. 2022	40 yrs.
Industrial facilities in the United States	—		11,503		42,967		—		—		11,503		42,967		54,470		1,042		Various	Jan. 2023	40 yrs.
Industrial facilities in Italy and Spain	—		21,167		56,172		1		1,216		21,500		57,056		78,556		1,110		Various	Mar. 2023	40 yrs.
Industrial and warehouse facilities in Canada	—		71,228		330,400		—		—		71,228		330,400		401,628		6,223		Various	Apr. 2023	40 yrs.
Industrial facilities in Canada, Mexico, and the United States	—		11,873		55,997		—		—		11,873		55,997		67,870		990		Various	Apr. 2023	40 yrs.
Retail (car wash) facilities in the United States	—		9,511		32,777		—		—		9,511		32,777		42,288		468		Various	May 2023; Oct. 2023	40 yrs.
Education and specialty facilities in the United States	—		11,973		90,101		—		—		11,973		90,101		102,074		1,234		Various	Jun. 2023	40 yrs.
Retail (car wash) facilities in the United States	—		8,120		22,857		—		—		8,120		22,857		30,977		70		2023	Nov. 2023	40 yrs.
Industrial and warehouse facilities in Italy, Germany, and Spain	—		40,752		97,622		—		819		40,993		98,200		139,193		222		Various	Nov. 2023	40 yrs.
Warehouse facility in Houston, TX	—		18,999		27,199		—		—		18,999		27,199		46,198		50		2000	Dec. 2023	40 yrs.
Industrial and research and development facilities in San Diego, CA	—		5,739		6,397		—		—		5,739		6,397		12,136		9		1990	Dec. 2023	40 yrs.
Retail facility in Phoenix, AZ	—		1,729		9,201		—		—		1,729		9,201		10,930		6		2023	Dec. 2023	40 yrs.
	$	361,073	$	2,436,311	$	9,311,273	$	1,013,029	$	(710,717)	$	2,248,300	$	9,801,596	$	12,049,896	$	1,509,730

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (a)		Increase  (Decrease) in Net Investments (b)		Gross Amount at which Carried at Close of Period Total		Date of Construction	Date Acquired
Description	Encumbrances		Land		Buildings
Direct Financing Method
Industrial facilities in Irving and Houston, TX	$	—	$	—	$	27,599	$	—	$	(4,295)	$	23,304	1978	Jan. 1998
Retail facility in Freehold, NJ	—		—		17,067		—		(495)		16,572		2004	Sep. 2012
Retail facilities in Germany	—		28,734		145,854		5,582		(60,775)		119,395		Various	Sep. 2012
Warehouse facility in Brierley Hill, United Kingdom	—		2,147		12,357		—		(1,864)		12,640		1996	Sep. 2012
Retail facilities in El Paso and Fabens, TX	—		4,777		17,823		—		(122)		22,478		Various	Jan. 2014
Retail facility in Gronau, Germany	—		281		4,401		—		(881)		3,801		1989	Jan. 2014
Industrial facility in Mount Carmel, IL	—		135		3,265		—		(364)		3,036		1896	Jan. 2014
Retail facility in Vantaa, Finland	—		5,291		15,522		—		(3,918)		16,895		2004	Jan. 2014
Retail facility in Linköping, Sweden	—		1,484		9,402		—		(3,844)		7,042		2004	Jan. 2014
Industrial facility in Calgary, Canada	—		—		7,076		—		(1,105)		5,971		1965	Jan. 2014
Industrial facilities in Fair Bluff, NC and Valencia, PA	—		5,780		40,860		—		(37,179)		9,461		1968; 1976	Jan. 2014
Industrial facility in Göppingen, Germany	—		10,717		60,120		—		(19,043)		51,794		1930	Jan. 2014
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom	—		1,062		23,087		—		(532)		23,617		Various	Oct. 2018
Warehouse facility in Gieten, Netherlands	—		—		15,258		—		(523)		14,735		1985	Oct. 2018
Warehouse facility in Oxnard, CA	—		—		10,960		—		(1,926)		9,034		1975	Oct. 2018
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK	—		4,454		87,030		—		3,129		94,613		Various	Oct. 2018
Industrial facility in Countryside, IL	—		563		1,457		—		36		2,056		1981	Oct. 2018
Industrial facility in Clarksville, TN	2,705		1,680		10,180		—		(253)		11,607		1998	Oct. 2018
Industrial facility in Bluffton, IN	1,592		503		3,407		—		(57)		3,853		1975	Oct. 2018
Warehouse facility in Houston, TX	—		—		5,977		—		(166)		5,811		1972	Oct. 2018
Warehouse in Chicago, IL	5,056		—		10,517		—		73		10,590		1942	Aug. 2022
Less: allowance for credit losses									(36,977)		(36,977)
	$	9,353	$	67,608	$	529,219	$	5,582	$	(171,081)	$	431,328

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

			Initial Cost to Company						Cost  Capitalized Subsequent to Acquisition (a)		Increase  (Decrease) in Net Investments (b)		Gross Amount at which Carried   at Close of Period (c) (d)												Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Personal Property						Land		Buildings		Personal Property		Total		Accumulated Depreciation (d)		Date of Construction	Date Acquired
Operating Real Estate – Hotels
Bloomington, MN	$	—	$	3,810	$	29,126	$	3,622	$	6,720	$	(314)	$	3,874	$	31,296	$	7,794	$	42,964	$	15,771	2008	Jan. 2014	34 yrs.
Newark, NJ	—		4,912		5,581		—		58		—		4,912		5,581		58		10,551		1,720		1989	Sep. 2012	37 yrs.
Sacramento, CA	—		1,690		18,472		—		7		—		1,690		18,472		7		20,169		5,577		1990	Sep. 2012	38 yrs.
San Diego, CA	—		3,899		33,729		—		19		—		3,899		33,729		19		37,647		10,369		1989	Sep. 2012	37 yrs.
Irvine, CA	—		3,720		24,983		—		22		—		3,720		24,983		22		28,725		8,164		1989	Sep. 2012	35 yrs.
Operating Real Estate – Student Housing Facilities
Austin, TX	—		12,994		60,006		—		68		—		12,994		60,033		41		73,068		2,132		2020	Aug. 2022	40 yrs.
Swansea, United Kingdom	—		—		32,884		—		59,389		8,613		—		100,886		—		100,886		2,860		2022	Aug. 2022	40 yrs.
Operating Real Estate – Self-Storage Facilities
Loves Park, IL	—		1,412		4,853		—		103		—		1,412		4,921		35		6,368		969		1997	Oct. 2018	40 yrs.
Cherry Valley, IL	—		1,339		4,160		—		18		—		1,339		4,160		18		5,517		795		1988	Oct. 2018	40 yrs.
Rockford, IL	—		695		3,873		—		125		—		695		3,983		15		4,693		687		1979	Oct. 2018	40 yrs.
Rockford, IL	—		87		785		—		—		—		87		785		—		872		122		1979	Oct. 2018	40 yrs.
Rockford, IL	—		454		4,724		—		14		—		454		4,733		5		5,192		677		1957	Oct. 2018	40 yrs.
Peoria, IL	—		444		4,944		—		238		—		444		5,164		18		5,626		1,074		1990	Oct. 2018	40 yrs.
East Peoria, IL	—		268		3,290		—		108		—		268		3,374		24		3,666		661		1986	Oct. 2018	40 yrs.
Loves Park, IL	—		721		2,973		—		27		—		721		3,000		—		3,721		532		1978	Oct. 2018	40 yrs.
Winder, GA	—		338		1,310		—		107		—		338		1,375		42		1,755		277		2006	Oct. 2018	40 yrs.
Winder, GA	—		821		3,180		—		43		—		821		3,198		25		4,044		607		2001	Oct. 2018	40 yrs.
Kissimmee, FL	6,212		2,147		17,164		—		11		—		2,147		17,171		4		19,322		610		2005	Aug. 2022	40 yrs.
St. Petersburg, FL	6,656		1,505		16,229		—		43		—		1,505		16,254		18		17,777		577		2007	Aug. 2022	40 yrs.
Corpus Christi, TX	2,525		904		10,779		—		163		—		904		10,897		45		11,846		394		1998	Aug. 2022	40 yrs.
Palm Desert, CA	6,383		1,036		22,714		—		—		—		1,036		22,714		—		23,750		806		2006	Aug. 2022	40 yrs.
Kailua-Kona, HI	3,493		1,425		12,267		—		59		—		1,425		12,317		9		13,751		440		1991	Aug. 2022	40 yrs.
Miami, FL	2,811		3,680		7,215		—		729		—		3,680		7,926		18		11,624		299		1986	Aug. 2022	40 yrs.
Columbia, SC	2,831		2,481		5,217		—		9		—		2,481		5,222		4		7,707		185		1988	Aug. 2022	40 yrs.
Kailua-Kona, HI	3,266		2,889		16,397		—		207		—		2,889		16,542		62		19,493		591		2004	Aug. 2022	40 yrs.
Pompano Beach, FL	2,823		1,227		10,897		—		465		—		1,227		11,316		46		12,589		392		1992	Aug. 2022	40 yrs.
Jensen Beach, FL	5,209		1,544		15,841		—		177		—		1,544		16,001		17		17,562		569		1989	Aug. 2022	40 yrs.
Dickinson, TX	5,996		1,952		8,826		—		46		—		1,952		8,857		15		10,824		314		2001	Aug. 2022	40 yrs.
Humble, TX	4,694		813		6,459		—		36		—		813		6,459		36		7,308		230		2009	Aug. 2022	40 yrs.
Temecula, CA	6,057		2,368		20,802		—		35		—		2,368		20,837		—		23,205		738		2006	Aug. 2022	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

		Initial Cost to Company			Cost  Capitalized Subsequent to Acquisition (a)	Increase  (Decrease) in Net Investments (b)	Gross Amount at which Carried   at Close of Period (c) (d)							Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Buildings	Personal Property			Land	Buildings	Personal Property	Total	Accumulated Depreciation (d)	Date of Construction	Date Acquired
Cumming, GA	2,665	655	10,455	—	20	—	655	10,455	20	11,130	373	1994	Aug. 2022	40 yrs.
Naples, FL	9,994	6,826	20,254	—	263	—	6,826	20,493	24	27,343	747	1974	Aug. 2022	40 yrs.
Valrico, FL	5,603	1,423	11,316	—	32	—	1,423	11,333	15	12,771	404	2009	Aug. 2022	40 yrs.
Tallahassee, FL	4,905	1,534	14,416	—	46	—	1,534	14,444	18	15,996	514	1999	Aug. 2022	40 yrs.
Sebastian, FL	1,817	529	7,917	—	38	—	529	7,955	—	8,484	284	1986	Aug. 2022	40 yrs.
Lady Lake, FL	3,933	928	11,881	—	11	—	928	11,881	11	12,820	422	2010	Aug. 2022	40 yrs.
Panama City Beach, FL	2,613	736	7,581	—	12	—	736	7,590	3	8,329	270	1997	Aug. 2022	40 yrs.
Hesperia, CA	—	1,416	18,691	—	22	—	1,416	18,702	11	20,129	666	2004	Aug. 2022	40 yrs.
Hesperia, CA	—	639	9,412	—	9	—	639	9,421	—	10,060	334	2007	Aug. 2022	40 yrs.
Hesperia, CA	—	699	12,896	—	103	—	699	12,995	4	13,698	464	1985	Aug. 2022	40 yrs.
Highland, CA	—	1,465	11,966	—	13	—	1,465	11,966	13	13,444	426	2003	Aug. 2022	40 yrs.
Lancaster, CA	—	598	12,100	—	—	—	598	12,100	—	12,698	429	1989	Aug. 2022	40 yrs.
Rialto, CA	—	3,502	16,924	—	14	—	3,502	16,924	14	20,440	601	2007	Aug. 2022	40 yrs.
Thousand Palms, CA	—	2,465	17,632	—	12	—	2,465	17,642	2	20,109	626	2007	Aug. 2022	40 yrs.
Lilburn, GA	2,331	1,555	6,225	—	29	—	1,555	6,236	18	7,809	225	1998	Aug. 2022	40 yrs.
Stockbridge GA	1,619	308	7,238	—	53	—	308	7,268	23	7,599	263	2003	Aug. 2022	40 yrs.
Louisville, KY	6,582	3,115	13,908	—	147	—	3,115	14,026	29	17,170	522	1998	Aug. 2022	40 yrs.
St. Peters, MO	2,309	386	5,521	—	108	—	386	5,595	34	6,015	207	1991	Aug. 2022	40 yrs.
Crystal Lake, IL	2,622	1,325	6,056	—	4	—	1,325	6,058	2	7,385	215	1977	Aug. 2022	40 yrs.
Las Vegas, NV	6,345	717	20,963	—	216	—	717	21,156	23	21,896	749	1996	Aug. 2022	40 yrs.
Panama City Beach, FL	6,151	666	17,086	—	50	—	666	17,104	32	17,802	609	2008	Aug. 2022	40 yrs.
Sarasota, FL	5,203	1,076	13,597	—	19	—	1,076	13,602	14	14,692	484	2003	Aug. 2022	40 yrs.
Sarasota, FL	3,804	638	10,175	—	43	—	638	10,197	21	10,856	363	2001	Aug. 2022	40 yrs.
Leesburg, FL	2,406	1,272	5,888	—	33	—	1,272	5,910	11	7,193	210	1988	Aug. 2022	40 yrs.
Palm Bay, FL	7,154	2,814	21,425	—	38	—	2,814	21,442	21	24,277	762	2000	Aug. 2022	40 yrs.
Houston, TX	4,617	1,878	8,719	—	85	—	1,878	8,801	3	10,682	315	1971	Aug. 2022	40 yrs.
Hudson, FL	3,252	669	6,092	—	41	—	669	6,092	41	6,802	218	2008	Aug. 2022	40 yrs.
Las Vegas, NV	2,341	918	12,355	—	101	—	918	12,455	1	13,374	444	1984	Aug. 2022	40 yrs.
Las Vegas, NV	2,211	829	11,275	—	43	—	829	11,286	32	12,147	403	1987	Aug. 2022	40 yrs.
Ithaca, NY	2,296	890	4,484	—	10	—	890	4,484	10	5,384	160	1988	Aug. 2022	40 yrs.
Kissimmee, FL	—	626	13,147	—	15	—	626	13,160	2	13,788	468	2015	Aug. 2022	40 yrs.
El Paso, TX	3,707	2,126	5,628	—	73	—	2,126	5,701	—	7,827	203	1983	Aug. 2022	40 yrs.
El Paso, TX	2,544	1,053	4,583	—	8	—	1,053	4,588	3	5,644	164	1980	Aug. 2022	40 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2023

(in thousands)

			Initial Cost to Company						Cost  Capitalized Subsequent to Acquisition (a)		Increase  (Decrease) in Net Investments (b)		Gross Amount at which Carried   at Close of Period (c) (d)												Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Personal Property						Land		Buildings		Personal Property		Total		Accumulated Depreciation (d)		Date of Construction	Date Acquired
El Paso, TX	3,615		994		7,451		—		108		—		994		7,556		3		8,553		270		1980	Aug. 2022	40 yrs.
El Paso, TX	3,632		1,295		6,318		—		36		—		1,295		6,354		—		7,649		226		1986	Aug. 2022	40 yrs.
El Paso, TX	1,429		587		3,121		—		14		—		587		3,121		14		3,722		114		1985	Aug. 2022	40 yrs.
El Paso, TX	3,721		1,143		5,894		—		92		—		1,143		5,986		—		7,129		214		1980	Aug. 2022	40 yrs.
Fernandina Beach, FL	7,275		2,664		25,000		—		15		—		2,664		25,012		3		27,679		888		1986	Aug. 2022	40 yrs.
Kissimmee, FL	3,451		2,149		6,223		—		174		—		2,149		6,388		9		8,546		227		1981	Aug. 2022	40 yrs.
Houston, TX	2,760		1,350		6,257		—		12		—		1,350		6,257		12		7,619		223		1998	Aug. 2022	40 yrs.
Houston, TX	2,960		1,112		8,044		—		82		—		1,112		8,094		32		9,238		289		2001	Aug. 2022	40 yrs.
Portland, OR	6,354		994		10,176		—		1		—		994		10,176		1		11,171		361		2000	Aug. 2022	40 yrs.
Greensboro, NC	4,040		1,389		15,175		—		178		—		1,389		15,275		78		16,742		546		1953	Aug. 2022	40 yrs.
Avondale, LA	3,425		1,154		9,090		—		—		—		1,154		9,090		—		10,244		323		2008	Aug. 2022	40 yrs.
Washington, D.C.	—		3,371		13,655		—		—		—		3,371		13,655		—		17,026		484		1962	Aug. 2022	40 yrs.
Kissimmee, FL	—		1,770		7,034		—		36		—		1,770		7,052		18		8,840		252		2000	Aug. 2022	40 yrs.
Milford, MA	—		951		11,935		—		9		—		951		11,935		9		12,895		424		2003	Aug. 2022	40 yrs.
Millsboro, DE	—		1,180		14,286		—		—		—		1,180		14,286		—		15,466		507		2001	Aug. 2022	40 yrs.
New Castle, DE	—		1,110		15,787		—		—		—		1,110		15,787		—		16,897		560		2005	Aug. 2022	40 yrs.
Rehoboth, DE	8,079		1,565		18,284		—		13		—		1,565		18,284		13		19,862		650		1999	Aug. 2022	40 yrs.
Chicago, IL	—		787		4,931		—		112		—		787		5,013		30		5,830		186		1990	Aug. 2022	40 yrs.
Gilroy, CA	—		3,058		13,014		—		42		—		3,058		13,029		27		16,114		465		1999	Aug. 2022	40 yrs.
Little Rock, AR	—		1,703		4,358		—		—		—		1,703		4,358		—		6,061		58		1996	Jun. 2023	40 yrs.
Houston, TX	—		3,701		8,945		—		14		—		3,701		8,945		14		12,660		80		2006	Aug. 2023	40 yrs.
Knoxville, TN	—		3,783		5,913		—		—		—		3,783		5,913		—		9,696		10		2008	Dec. 2023	40 yrs.
Springfield, TN	—		1,587		3,651		—		—		—		1,587		3,651		—		5,238		6		1989	Dec. 2023	40 yrs.
Bastrop, TX	—		2,772		9,055		—		—		—		2,772		9,055		—		11,827		11		2020	Dec. 2023	40 yrs.
	$	208,721	$	150,020	$	1,021,083	$	3,622	$	71,695	$	8,299	$	150,084	$	1,095,520	$	9,115	$	1,254,719	$	80,057

__________

(a)Consists of the cost of improvements subsequent to acquisition and acquisition costs, including construction costs on build-to-suit transactions, legal fees, appraisal fees, title costs, and other related professional fees. For business combinations, transaction costs are excluded.

(b)The increase (decrease) in net investment was primarily due to (i) sales of properties, (ii) impairment charges, (iii) changes in foreign currency exchange rates, (iv) allowances for credit loss (Note 7), (v) reclassifications from net investments in direct financing leases to real estate subject to operating leases, and (vi) the amortization of unearned income from net investments in direct financing leases, which produces a periodic rate of return that at times may be greater or less than lease payments received.

(c)Excludes (i) gross lease intangible assets of $2.9 billion and the related accumulated amortization of $1.4 billion, (ii) gross lease intangible liabilities of $203.4 million and the related accumulated amortization of $66.5 million, (iii) net investments in sales-type leases of $835.7 million, (iv) sale-leasebacks classified as loans receivable of $236.6 million, (v) secured loans receivable of $11.3 million (as disclosed in Schedule IV – Mortgage Loans on Real Estate), (vi) assets held for sale, net of $37.1 million, and (vii) real estate under construction of $47.1 million.

(d)A reconciliation of real estate and accumulated depreciation follows:

W. P. CAREY INC.

NOTES TO SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

(in thousands)

	Reconciliation of Real Estate Subject to Operating Leases
	Years Ended December 31,
	2023		2022		2021
Beginning balance	$	13,316,632	$	11,677,185	$	10,736,752
Derecognition through the Spin-Off	(1,299,400)		—		—
Acquisitions	984,283		997,937		1,144,757
Reclassification to sales-type lease	(662,674)		—		—
Dispositions	(256,339)		(165,516)		(80,129)
Reclassification to operating properties	(221,028)		—		—
Foreign currency translation adjustment	132,686		(269,272)		(267,018)
Capital improvements	54,667		29,419		14,589
Reclassification to assets held for sale	(46,985)		(13,093)		(10,628)
Reclassification from real estate under construction	40,479		147,982		86,179
Reclassification from direct financing leases	25,460		67,001		76,929
Impairment charges	(17,885)		(36,624)		(24,246)
Acquisitions through CPA:18 Merger	—		881,613		—
Ending balance	$	12,049,896	$	13,316,632	$	11,677,185

	Reconciliation of Accumulated Depreciation for Real Estate Subject to Operating Leases
	Years Ended December 31,
	2023		2022		2021
Beginning balance	$	1,672,091	$	1,448,020	$	1,206,912
Depreciation expense	326,719		298,972		286,347
Derecognition through the Spin-Off	(214,977)		—		—
Reclassification to sales-type lease	(156,461)		—		—
Dispositions	(58,861)		(47,463)		(17,582)
Reclassification to operating real estate	(56,434)		—		—
Reclassification to assets held for sale	(16,539)		(1,038)		(2,359)
Foreign currency translation adjustment	14,192		(26,400)		(25,298)
Ending balance	$	1,509,730	$	1,672,091	$	1,448,020

	Reconciliation of Operating Real Estate
	Years Ended December 31,
	2023		2022		2021
Beginning balance	$	1,077,326	$	83,673	$	83,476
Reclassification from operating leases	221,028		—		—
Dispositions	(124,237)		—		—
Acquisitions	45,469		—		—
Reclassification from real estate under construction	25,452		66,820		—
Foreign currency translation adjustment	5,088		3,526		—
Capital improvements	4,593		1,146		197
Acquisitions through CPA:18 Merger	—		922,161		—
Ending balance	$	1,254,719	$	1,077,326	$	83,673

	Reconciliation of Accumulated Depreciation for Operating Real Estate
	Years Ended December 31,
	2023		2022		2021
Beginning balance	$	28,295	$	16,750	$	14,004
Reclassification from operating leases	56,434		—		—
Dispositions	(34,580)		—		—
Depreciation expense	29,840		11,541		2,746
Foreign currency translation adjustment	68		4		—
Ending balance	$	80,057	$	28,295	$	16,750

At December 31, 2023, the aggregate cost of real estate that we and our consolidated subsidiaries own for federal income tax purposes was approximately $15.9 billion.