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): March 22, 2012

CORPORATE PROPERTY ASSOCIATES 17 – GLOBAL INCORPORATED

(Exact Name of Registrant as Specified in Charter)

Maryland (State or Other Jurisdiction of Incorporation)	000-52891 (Commission File Number)	20-8429087 (IRS Employer Identification No.)
50 Rockefeller Plaza, New York, NY		10020
(Address of Principal Executive Offices)		(Zip Code)

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

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:

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

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

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

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

Item 8.01 Other Events.

On March 22, 2012, the registrant made available certain supplemental unaudited financial information at December 31, 2011. A copy of this supplemental information is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 Supplemental information of the registrant at December 31, 2011.

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.

	Corporate Property Associates 17 – Global Incorporated
Date:     March 22, 2012	By:	/s/ Mark J. DeCesaris
	Mark J. DeCesaris
	Chief Financial Officer

EX-99.1

Exhibit 99.1

Corporate Property Associates 17 – Global Incorporated

Supplemental Unaudited Information

As of December 31, 2011

As used in this supplemental package, the terms “the Company,” “we,” “us” and “our” include Corporate Property Associates 17 – Global Incorporated (“CPA^®:17 – Global”), its consolidated subsidiaries and predecessors, unless otherwise indicated.

Important Note Regarding Non-GAAP Financial Measures

This supplemental package includes non-GAAP measures, including funds from operations (“FFO”), modified funds from operations (“MFFO”), and adjusted cash flow from operating activities. A description of these non-GAAP measures and reconciliations to the most directly comparable GAAP measures are provided in this supplemental package.

Forward-Looking Statements

This supplemental package contains forward-looking statements within the meaning of the Federal securities laws. It is important to note that our actual results could be materially different from those projected in such forward-looking statements. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties and other factors that may materially affect our future results, performance, achievements or transactions. Information on factors which could impact actual results and forward-looking statements contained herein is included in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2011. We do not undertake to revise or update any forward-looking statements.

Executive Offices 50 Rockefeller Plaza New York, NY 10020 Tel: 1-800-WPCAREY or (212) 492-1100 Fax: (212) 492-8922 Web Site Address: www.CPA17GLOBAL.com Investor Relations Susan C. Hyde Managing Director & Director of Investor Relations W. P. Carey & Co. LLC Phone: (212) 492-1151

Corporate Property Associates 17 – Global Incorporated

Reconciliation of Net Income (Loss) Attributable to CPA^®:17 – Global Shareholders

to Modified Funds From Operations (MFFO)

(in thousands, except share and per share amounts)

		000000000000		000000000000		000000000000		000000000000		000000000000		000000000000
	Three Months Ended December 31,						Years Ended December 31,
	2011		2010		2009		2011		2010		2009
Net income (loss) attributable to CPA®:17 – Global shareholders	$	14,073	$	8,963	$	(16,994)	$	49,655	$	30,454	$	(7,701)
Adjustments:
Depreciation and amortization of real property		14,043		4,589		1,657		42,240		13,898		5,289
Impairment (adjustments) charges (a)		(70)		-		23,904		(70)		-		23,904
Loss (gain) on sale of real estate, net		9		(1)		-		(778)		(110)		-
Proportionate share of adjustments to equity in net income of partially-owned entities to arrive at FFO:
Depreciation and amortization of real property		4,152		806		1,239		13,892		3,136		2,182
Impairment charges (a)		13		-		-		13		-		-
Loss on sale of real estate, net		-		-		-		-		38		-
Proportionate share of adjustments for noncontrolling interests to arrive at FFO		(156)		(158)		(2,985)		(646)		(580)		(3,410)
Total adjustments		17,991		5,236		23,815		54,651		16,382		27,965
FFO — as defined by NAREIT (a)		32,064		14,199		6,821		104,306		46,836		20,264
Adjustments:
Other depreciation, amortization and non-cash charges		738		(19)		13		114		79		83
Straight-line and other rent adjustments (b)		(4,699)		(1,357)		(1,162)		(14,236)		(5,252)		(3,562)
Acquisition expenses (c)		2,961		298		181		9,335		1,868		1,052
Above (below)-market rent intangible lease amortization, net (d)		348		366		19		1,756		1,215		78
Amortization of premiums/(accretion) of discounts on debt investments, net		37		37		(168)		148		130		(641)
Realized (gains) losses on foreign currency, derivatives and other (e)		(5,045)		(95)		(31)		(6,665)		(846)		2,268
Proportionate share of adjustments to equity in net income of partially-owned entities to arrive at MFFO:
Other depreciation, amortization and non-cash charges		(7)		15		-		(6)		(6)		-
Straight-line and other rent adjustments (b)		85		(115)		(106)		(154)		(364)		(106)
Gain on extinguishment of debt		-		-		(326)		-		-		(326)
Acquisition expenses (c)		112		1		-		282		2		-
Above (below)-market rent intangible lease amortization, net (d)		5		(1)		(20)		13		(22)		(20)
Realized (gains) losses on foreign currency, derivatives and other (e)		(3)		-		1		(7)		1		1
Proportionate share of adjustments for noncontrolling interests to arrive at MFFO		1,109		211		319		1,880		948		895
Total adjustments		(4,359)		(659)		(1,280)		(7,540)		(2,247)		(278)
MFFO	$	27,705	$	13,540	$	5,541	$	96,766	$	44,589	$	19,986
MFFO per share	$	0.16	$	0.11	$	0.09	$	0.63	$	0.45	$	0.41
Weighted average shares outstanding		198,944,943		134,640,891		72,894,294		175,271,595		110,882,448		54,376,664

CPA^®:17 – Global 2011 Supplemental 8-K — 2

MFFO per share calculation:

		000000000000		000000000000		000000000000		000000000000		000000000000		000000000000
	Three Months Ended December 31,						Years Ended December 31,
	2011		2010		2009		2011		2010		2009
MFFO	$	27,705	$	13,540	$	5,541	$	96,766	$	44,589	$	19,986
Issuance of shares to an affiliate in satisfaction of fees due		4,161		1,471		746		13,435		5,050		2,477
MFFO numerator in determination of MFFO per share	$	31,866	$	15,011	$	6,287	$	110,201	$	49,639	$	22,463

(a) The SEC Staff has recently stated that they take no position on the inclusion or exclusion of impairment write-downs in arriving at FFO. Since 2003, the National Association of Real Estate Investment Trusts, Inc., or NAREIT, an industry trade group, has taken the position that the exclusion of impairment charges is consistent with its definition of FFO. Accordingly, we have revised our computation of FFO to exclude impairment charges, if any, in arriving at FFO for all periods presented.

(b) Under GAAP, rental receipts are allocated to periods using various methodologies. This may result in income recognition that is significantly different than underlying contract terms. By adjusting for these items (to reflect such payments from a GAAP accrual basis to a cash basis of disclosing the rent and lease payments), management believes that MFFO provides useful supplemental information on the realized economic impact of lease terms and debt investments, provides insight on the contractual cash flows of such lease terms and debt investments, and aligns results with management’s analysis of operating performance.

(c) In evaluating investments in real estate, management differentiates the costs to acquire the investment from the operations derived from the investment. Such information would be comparable only for non-listed REITs that have completed their acquisition activity and have other similar operating characteristics. By excluding expensed acquisition costs, management believes MFFO provides useful supplemental information that is comparable for each type of real estate investment and is consistent with management’s analysis of the investing and operating performance of our properties. Acquisition fees and expenses include payments to our advisor or third parties. Acquisition fees and expenses under GAAP are considered operating expenses and as expenses included in the determination of net income and income from continuing operations, both of which are performance measures under GAAP. All paid and accrued acquisition fees and expenses will have negative effects on returns to shareholders, the potential for future distributions, and cash flows generated by us, unless earnings from operations or net sales proceeds from the disposition of properties are generated to cover the purchase price of the property, these fees and expenses and other costs related to the property.

(d) Under GAAP, certain intangibles are accounted for at cost and reviewed at least annually for impairment, and certain intangibles are assumed to diminish predictably in value over time and amortized, similar to depreciation and amortization of other real estate related assets that are excluded from FFO. However, because real estate values and market lease rates historically rise or fall with market conditions, management believes that by excluding charges relating to amortization of these intangibles, MFFO provides useful supplemental information on the performance of the real estate.

(e) Management believes that adjusting for fair value adjustments for derivatives provides useful information because such fair value adjustments are based on market fluctuations and may not be directly related or attributable to our operations.

Non-GAAP Financial Disclosure

Funds from Operations (“FFO”) and Modified Funds from Operations (“MFFO”)

Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT has promulgated a measure known as funds from operations, or FFO, which we believe to be an appropriate supplemental measure to reflect the operating performance of a real estate investment trust, or REIT. The use of FFO is recommended by the REIT industry as a supplemental performance measure. FFO is not equivalent to nor a substitute for net income or loss as determined under GAAP.

We define FFO, a non-GAAP measure, consistent with the standards established by the White Paper on FFO approved by the Board of Governors of NAREIT, as revised in February 2004, or the White Paper. The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding gains or losses from sales of property, real estate-related impairment charges, depreciation and amortization; and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect FFO. Our FFO calculation complies with NAREIT’s policy described above.

The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time, especially if such assets are not adequately maintained or repaired and renovated as required by relevant circumstances and/or is requested or required by lessees for operational purposes in order to maintain the value disclosed. We believe that, since real estate values historically rise and fall with market conditions, including inflation, interest rates, the business cycle, unemployment and consumer spending, presentations of operating results for a REIT using historical accounting for depreciation may be less informative. Historical accounting for real estate involves

CPA^®:17 – Global 2011 Supplemental 8-K — 3

the use of GAAP. Any other method of accounting for real estate such as the fair value method cannot be construed to be any more accurate or relevant than the comparable methodologies of real estate valuation found in GAAP. Nevertheless, we believe that the use of FFO, which excludes the impact of real estate-related depreciation and amortization as well as impairment charges of real estate-related assets, provides a more complete understanding of our performance to investors and to management, and when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income. In particular, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations and assessments regarding general market conditions which can change over time. An asset will only be evaluated for impairment if certain impairment indications exist and if the carrying, or book value, exceeds the total estimated undiscounted future cash flows (including net rental and lease revenues, net proceeds on the sale of the property, and any other ancillary cash flows at a property or group level under GAAP) from such asset. Investors should note, however, that determinations of whether impairment charges have been incurred are based partly on anticipated operating performance, because estimated undiscounted future cash flows from a property, including estimated future net rental and lease revenues, net proceeds on the sale of the property, and certain other ancillary cash flows, are taken into account in determining whether an impairment charge has been incurred. While impairment charges are excluded from the calculation of FFO described above, investors are cautioned that, due to the fact that impairments are based on estimated future undiscounted cash flows and the relatively limited term of our operations, it could be difficult to recover any impairment charges. However, FFO and MFFO, as described below, should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating the operating performance of the company. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP FFO and MFFO measures and the adjustments to GAAP in calculating FFO and MFFO.

Changes in the accounting and reporting promulgations under GAAP (for acquisition fees and expenses from a capitalization/depreciation model to an expensed-as-incurred model) were put into effect in 2009. These other changes to GAAP accounting for real estate subsequent to the establishment of NAREIT’s definition of FFO have prompted an increase in cash-settled expenses, specifically acquisition fees and expenses for all industries as items that are expensed under GAAP, that are typically accounted for as operating expenses. Management believes these fees and expenses do not affect our overall long-term operating performance. Publicly registered, non-listed REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. While other start-up entities may also experience significant acquisition activity during their initial years, we believe that non-listed REITs are unique in that they have a limited life with targeted exit strategies within a relatively limited time frame after acquisition activity ceases. As disclosed in the prospectus for our follow-on offering dated April 7, 2011 (the “Prospectus”), we intend to begin the process of achieving a liquidity event (i.e., listing of our common stock on a national exchange, a merger or sale of our assets or another similar transaction) within eight to 12 years following the investment of substantially all of the net proceeds from our initial public offering, which was terminated in April 2011. Thus, we do not intend to continuously purchase assets and intend to have a limited life. Due to the above factors and other unique features of publicly registered, non-listed REITs, the Investment Program Association (“IPA”), an industry trade group, has standardized a measure known as MFFO, which the IPA has recommended as a supplemental measure for publicly registered non-listed REITs and which we believe to be another appropriate supplemental measure to reflect the operating performance of a non-listed REIT having the characteristics described above. MFFO is not equivalent to our net income or loss as determined under GAAP, and MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate with a limited life and targeted exit strategy, as currently intended. We believe that, because MFFO excludes costs that we consider more reflective of investing activities and other non-operating items included in FFO and also excludes acquisition fees and expenses that affect our operations only in periods in which properties are acquired, MFFO can provide, on a going forward basis, an indication of the sustainability (that is, the capacity to continue to be maintained) of our operating performance after the period in which we are acquiring properties and once our portfolio is in place. By providing MFFO, we believe we are presenting useful information that assists investors and analysts to better assess the sustainability of our operating performance after our offering has been completed and once all of our properties have been acquired. We also believe that MFFO is a recognized measure of sustainable operating performance by the non-listed REIT industry. Further, we believe MFFO is useful in comparing the sustainability of our operating performance after our offering and most of our acquisitions are completed with the sustainability of the operating performance of other real estate companies that are not as involved in acquisition activities. Investors are cautioned that MFFO should only be used to assess the sustainability of a company’s operating performance after a company’s offering has been completed and properties have been acquired, as it excludes acquisition costs that have a negative effect on a company’s operating performance during the periods in which properties are acquired.

We define MFFO, a non-GAAP measure, consistent with the IPA’s Guideline 2010-01, Supplemental Performance Measure for Publicly Registered, Non-Listed REITs: Modified Funds from Operations, or the Practice Guideline, issued by the IPA in November 2010. The Practice Guideline defines MFFO as FFO further adjusted for the following items, as applicable, included in the determination of GAAP net income: acquisition fees and expenses; amounts relating to deferred rent receivables and amortization of above and below market leases and liabilities (which are adjusted in order to reflect such payments from a GAAP accrual basis to a cash basis of disclosing the rent and lease payments); accretion of discounts and amortization of premiums on debt investments;

CPA^®:17 – Global 2011 Supplemental 8-K — 4

nonrecurring impairments of real estate-related investments (i.e., infrequent or unusual, not reasonably likely to recur in the ordinary course of business); mark-to-market adjustments included in net income; nonrecurring gains or losses included in net income from the extinguishment or sale of debt, hedges, foreign exchange, derivatives or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and after adjustments for consolidated and unconsolidated partnerships and joint ventures, with such adjustments calculated to reflect MFFO on the same basis. The accretion of discounts and amortization of premiums on debt investments, nonrecurring unrealized gains and losses on hedges, foreign exchange, derivatives or securities holdings, unrealized gains and losses resulting from consolidations, as well as other listed cash flow adjustments are adjustments made to net income in calculating the cash flows provided by operating activities and, in some cases, reflect gains or losses which are unrealized and may not ultimately be realized. While we are responsible for managing interest rate, hedge and foreign exchange risk, we retain an outside consultant to review all our hedging agreements. Inasmuch as interest rate hedges are not a fundamental part of our operations, we believe it is appropriate to exclude such infrequent gains and losses in calculating MFFO, as such gains and losses are not reflective of on-going operations.

Our MFFO calculation complies with the IPA’s Practice Guideline described above. In calculating MFFO, we exclude acquisition-related expenses, amortization of above- and below-market leases, fair value adjustments of derivative financial instruments, deferred rent receivables and the adjustments of such items related to noncontrolling interests. Under GAAP, acquisition fees and expenses are characterized as operating expenses in determining operating net income. These expenses are paid in cash by a company. All paid and accrued acquisition fees and expenses will have negative effects on returns to investors, the potential for future distributions, and cash flows generated by the company, unless earnings from operations or net sales proceeds from the disposition of other properties are generated to cover the purchase price of the property, these fees and expenses and other costs related to such property. Further, under GAAP, certain contemplated non-cash fair value and other non-cash adjustments are considered operating non-cash adjustments to net income in determining cash flow from operating activities. In addition, we view fair value adjustments of derivatives and gains and losses from dispositions of assets as infrequent items or items which are unrealized and may not ultimately be realized, and which are not reflective of on-going operations and are therefore typically adjusted for assessing operating performance.

Our management uses MFFO and the adjustments used to calculate it in order to evaluate our performance against other non-listed REITs which have limited lives with short and defined acquisition periods and targeted exit strategies shortly thereafter. As noted above, MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate in this manner. We believe that our use of MFFO and the adjustments used to calculate it allow us to present our performance in a manner that reflects certain characteristics that are unique to non-listed REITs, such as their limited life, limited and defined acquisition period and targeted exit strategy, and hence that the use of such measures is useful to investors. For example, acquisition costs are generally funded from the proceeds of our offering and other financing sources and not from operations. By excluding expensed acquisition costs, the use of MFFO provides information consistent with management’s analysis of the operating performance of the properties. Additionally, fair value adjustments, which are based on the impact of current market fluctuations and underlying assessments of general market conditions, but can also result from operational factors such as rental and occupancy rates, may not be directly related or attributable to our current operating performance. By excluding such changes that may reflect anticipated and unrealized gains or losses, we believe MFFO provides useful supplemental information.

Presentation of this information is intended to provide useful information to investors as they compare the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and MFFO the same way, so comparisons with other REITs may not be meaningful. Furthermore, FFO and MFFO are not necessarily indicative of cash flow available to fund cash needs and should not be considered as an alternative to net income (loss) or income (loss) from continuing operations as an indication of our performance, as an alternative to cash flows from operations as an indication of our liquidity, or indicative of funds available to fund our cash needs including our ability to make distributions to our stockholders. FFO and MFFO should be reviewed in conjunction with other GAAP measurements as an indication of our performance.

MFFO has limitations as a performance measure in an offering such as ours, where the price of a share of common stock is a stated value and there is no net asset value determination during the offering stage and for a period thereafter. MFFO is useful in assisting management and investors in assessing the sustainability of operating performance in future operating periods, and in particular, after the offering and acquisition stages are complete and net asset value is disclosed. MFFO is not a useful measure in evaluating net asset value because impairments are taken into account in determining net asset value but not in determining MFFO.

Neither the SEC, NAREIT nor any other regulatory body has passed judgment on the acceptability of the adjustments that we use to calculate FFO or MFFO. In the future, the SEC, NAREIT or another regulatory body may decide to standardize the allowable adjustments across the non-listed REIT industry and we would have to adjust our calculation and characterization of FFO or MFFO accordingly.

CPA^®:17 – Global 2011 Supplemental 8-K — 5

Corporate Property Associates 17 – Global Incorporated

Adjusted Cash Flow from Operating Activities

(in thousands, except share and per share amounts)

	Years Ended December 31,
	2011		2010		2009
Cash flow provided by operating activities	$	101,515	$	69,518	$	35,348
Adjustments:
Distributions received from equity investments in real estate in excess of equity income, net (a)		11,925		1,600		2,265
Distributions paid to noncontrolling interests, net (b)		(18,991)		(12,547)		(11,474)
Changes in working capital (c)		5,047		(8,929)		(2,735)
Adjusted cash flow from operating activities (d)	$	99,496	$	49,642	$	23,404
Adjusted cash flow per share	$	0.57	$	0.45	$	0.43
Distributions declared per share	$	0.6475	$	0.6400	$	0.6324
Payout ratio (distributions per share/adjusted cash flow per share)		114%		143%		147%
Weighted average shares outstanding		175,271,595		110,882,448		54,376,664

(a) To the extent we receive distributions in excess of equity income that we recognize, we include such amounts in our evaluation of cash flow from core operations.

(b) Represents noncontrolling interests’ share of distributions made by ventures that we consolidate in our financial statements.

(c) Timing differences arising from the payment of certain liabilities and the receipt of certain receivables in a period other than that in which the item is recognized in determining net income may distort the actual cash flow that our core operations generate. We adjust our GAAP cash flow provided by operating activities to record such amounts in the period in which the item was actually recognized.

(d) During the first quarter of 2011, we made an adjustment to exclude the impact of escrow funds from Adjusted cash flow from operating activities for those escrow funds representing investing and/or financing activities. The amounts previously furnished for Adjusted cash flow from operating activities for the years ended December 31, 2010 and 2009 of $48.1 million and $20.3 million, respectively, have been revised in the table above to reflect this reclassification.

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities refers to our cash flow from operating activities (as computed in accordance with GAAP) adjusted, where applicable, primarily to: add cash distributions that we receive from our investments in unconsolidated real estate joint ventures in excess of our equity income; subtract cash distributions that we make to our noncontrolling partners in real estate joint ventures that we consolidate; and eliminate changes in working capital. We hold a number of interests in real estate joint ventures, and we believe that adjusting our GAAP cash flow provided by operating activities to reflect these actual cash receipts and cash payments, as well as eliminating the effect of timing differences between the payment of certain liabilities and the receipt of certain receivables in a period other than that in which the item is recognized may give investors additional information about our actual cash flow that is not incorporated in cash flow from operating activities as defined by GAAP.

We believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations as it gives investors important information about our liquidity that is not provided within cash flow from operating activities as defined by GAAP, and we use this measure when evaluating distributions to shareholders. Adjusted cash flow from operating activities should not be considered as an alternative to cash provided by operating activities computed on a GAAP basis as a measure of our liquidity. As we are still in our offering and investment stage, we also consider our expectations as to the yields that may be generated on existing investments and our acquisition pipeline when evaluating distributions to shareholders.

CPA^®:17 – Global 2011 Supplemental 8-K — 6

Corporate Property Associates 17 – Global Incorporated

Portfolio Diversification as of December 31, 2011

Top Ten Tenants by Rent (Pro Rata Basis)

(in thousands, except percentages)

		Annualized Contractual		Annualized Contractual
Tenant/Lease Guarantor	Annualized Contractual Minimum Base Rent		Percent
Metro AG (a)	$	25,608		12%
Agrokor d.d. (a)		17,691		8%
General Parts Inc. (Carquest) (a)		17,472		8%
The New York Times Company		13,705		6%
C1000 BV (a)		12,361		6%
A-American Self Storage		12,120		5%
Hellweg Die Profi-Baumärkte GmbH & Co KG (a)		11,354		5%
Eroski Sociedad Cooperativa (a)		10,784		5%
DTS Distribuidora de Television Digital SA (a)		8,547		4%
Terminal Freezers, LLC		8,395		4%
Total	$	138,037		63%
Weighted-Average Lease Term for Portfolio:		15.7 years

(a) Rent amounts are subject to fluctuations in foreign currency exchange rates.

Portfolio

At December 31, 2011, our portfolio was comprised of our full or partial ownership interests in 307 fully-occupied properties, substantially all of which were triple-net leased to 46 tenants, and totaled approximately 26 million square feet (on a pro rata basis). In addition, we own 44 self-storage properties and retain a fee interest in a hotel property for an aggregate of approximately 3 million square feet (on a pro rata basis).

CPA^®:17 – Global 2011 Supplemental 8-K — 7

Corporate Property Associates 17 – Global Incorporated

Portfolio Diversification as of December 31, 2011

by Geography and Property Type (Pro Rata Basis)

(in thousands, except percentages)

		Annualized Contractual		Annualized Contractual
Region	Annualized Contractual     Minimum Base Rent		Percent
U.S.
East	$	35,456		16%
West		30,238		13%
Midwest		28,294		13%
South		25,926		12%
U.S. Total		119,914		54%
International
Italy		25,608		12%
Spain		19,331		9%
Croatia		17,691		8%
Germany		16,391		7%
Netherlands		12,361		5%
United Kingdom		5,380		2%
Hungary		3,360		2%
Poland		1,126		1%
International Total		101,248		46%
Total	$	221,162		100%
Property Type	Annualized Contractual Minimum Base Rent		Percent
Warehouse/Distribution	$	74,875		34%
Retail		61,519		28%
Office		38,844		17%
Industrial		26,309		12%
Self Storage		16,026		7%
Other (a)		3,589		2%
Total	$	221,162		100%

(a) Includes rent from tenants with the following property types: education (1%), hospitality (1%) and residential (0.01%).

Portfolio Diversification by Geography	Portfolio Diversification by Property Type

CPA^®:17 – Global 2011 Supplemental 8-K — 8

Corporate Property Associates 17 – Global Incorporated

Portfolio Diversification as of December 31, 2011

by Tenant Industry (Pro Rata Basis)

(in thousands, except percentages)

		0000000	0000000	0000000	0000000
Industry Type (a)	Annualized Contractual Minimum Base Rent			Percent
Retail Trade	$		61,136		28%
Grocery			44,197		20%
Media: Printing and Publishing			22,252		10%
Buildings and Real Estate			14,714		7%
Transportation - Cargo			11,595		5%
Machinery			9,237		4%
Chemicals, Plastics, Rubber, and Glass			6,796		3%
Electronics			6,415		3%
Healthcare, Education and Childcare			6,197		3%
Leisure, Amusement, Entertainment			6,004		3%
Consumer Services			5,197		2%
Business and Commercial Services			4,000		2%
Consumer Non-durable Goods			3,961		2%
Banking			3,821		2%
Transportation - Personal			3,493		2%
Beverages, Food, and Tobacco			3,193		1%
Automobile			3,072		1%
Textiles, Leather, and Apparel			2,887		1%
Other (b)			2,995		1%
Total	$		221,162		100%

(a) Based on the Moody’s Investors Service, Inc. classification system and information provided by the tenant.

(b) Includes tenants in hotels and gaming (0.7%), forest products and paper (0.4%), consumer and durable goods (0.2%) and mining, metals, and primary metal industries (0.1%).

CPA^®:17 – Global 2011 Supplemental 8-K — 9

CORPORATE PROPERTY ASSOCIATES 17 – GLOBAL INCORPORATED

2011 Investment Activity

For the Year Ended December 31, 2011

(in thousands, except square footage)

Acquisitions

Tenant/Lease Guarantor	Property Location(s)	Purchase Price  (a)		Closing Date	Property Type	Gross Square Footage
Terminal Freezers, LLC	Oxnard & Watsonville, CA	$	99,634	January-11	Warehouse/Distribution		866,525
C1000 Logistiek Vastgoed B.V. (b)  (c)	Various locations in The Netherlands		207,635	January-11	Warehouse/Distribution		2,046,858
Harbor Freight Tools USA, Inc.	Dillon, SC		32,060	March-11	Warehouse/Distribution		1,010,859
Dolgencorp, LLC	Choudrant, Mangham, Mount Hermon & Richwood, LA; Vass, NC & Chesterfield, Hopewell & Hot  Springs, VA	8,086		March-11; April-11; May-11; June-11 & July-11	Retail	72,234
Curtiss-Wright Flow Control Service	Middleburg Heights, OH		2,585	March-11	Industrial		28,185
Flanders Corporation	Ardmore, OK; Smithfield, NC; Bartow, FL & Momence, IL		50,790	April-11	Warehouse/Distribution		722,108
Berry Plastics Corporation	Evansville, IN		2,723	April-11	Industrial		263,088
ICF International, Inc. (d)	Martinsville, VA		14,819	May-11	Office		BTS
CRO—San Luis Development, LLC	Chicago, IL		7,414	June-11	Retail		17,000
Precision Printing and Packing, Inc.	Clarksville, TN		7,960	August-11	Industrial		189,300
Dolgencorp, LLC (d)	Gardner, LA		979	August-11	Retail		BTS
Faurecia International System, Inc.	Fraser, MI		6,775	September-11	Industrial		164,153
Metro AG (b)	Various locations in Italy		395,511	September-11	Retail		2,415,163
Agrokor d.d (b) (d)	Various locations in Croatia		56,738	November-11	Retail		BTS
IShops LLC (d)	Orlando, FL		43,000	December-11	Retail		BTS
American Air Liquide Holdings, Inc.	Countryside, IL		2,245	December-11	Industrial		18,264
Flanders Corporation	Hudson, NY		5,217	December-11	Industrial		195,000
Total Acquisitions - Leased Properties			944,171				8,008,737
Property Type	Property Location(s)	Purchase Price		Closing Date
Self-Storage Facility	Fort Worth, TX		3,400	April-11
Self-Storage Facilities (24 Facilities)	Various locations in California, Hawaii and Illinois		86,015	June-11
Self-Storage Facility	Kihei, HI		11,069	August-11
Self-Storage Facilities (4 Facilities)	Various locations in California and Illinois		20,292	August-11
Self-Storage Facility	Pearl City, HI		6,064	August-11
Self-Storage Facilities (3 Facilities)	Various locations in California and Illinois		8,428	September-11
Self-Storage Facility	Chicago, IL		7,891	September-11
Self-Storage Facilities (8 Facilities)	Various locations in California and Illinois		23,700	November-11
Self-Storage Facility	Hesperia, CA		2,414	December-11
Total Acquisitions - Hospitality/Self Storage Properties			169,273

CPA^®:17 – Global 2011 Supplemental 8-K — 10

CORPORATE PROPERTY ASSOCIATES 17 – GLOBAL INCORPORATED

2011 Investment Activity

For the Year Ended December 31, 2011

(in thousands, except square footage)

(continued)

Notes Receivable

Borrower/Guarantor	Interest Rate	Note Amount		Closing Date	Maturity Date
BPS Partners	8.00%		30,000	June-11	June-16
			30,000
Total Acquisitions		$	1,143,444
(a)    Includes capitalized transaction costs, where applicable. (b)    Acquisition price reflects applicable foreign exchange rate. (c)    Property is jointly-owned by Corporate Property Associates 15 Incorporated (15% ownership interest) and CPA®:17 – Global (85% ownership interest). (d)    Acquisition includes a build-to-suit (“BTS”) transaction. Gross square footage cannot be determined at this time.
Dispositions
Tenant/Lease Guarantor	Property Location(s)	Gross Sale Price		Date	Property Type	Gross Square Footage
Carquest Canada Ltd. (a)	New Brunswick and Quebec, Canada	$	19,773	June-11	Warehouse/Distribution		231,870
Total Dispositions		$	19,773				231,870

(a) Disposition price reflects applicable foreign exchange rate.

CPA^®:17 – Global 2011 Supplemental 8-K — 11