Corporate Property Associates 17 - Global INC

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2016

(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)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Real Estate Under Operating Leases
Industrial facility in Norfolk, NE	$	1,424	$	625	$	1,713	$	—	$	107		$	625	$	1,820	$	2,445	$	521	1975	Jun. 2008	30 yrs.
Office facility in Soest, Germany and warehouse facility in Bad Wünnenberg, Germany	—		3,193		45,932		—		(16,409		)	2,126		30,590		32,716		6,926		1982; 1996	Jul. 2008	36 yrs.
Education facility in Chicago, IL	12,569		6,300		20,509		—		(527		)	6,300		19,982		26,282		5,663		1912	Jul. 2008	30 yrs.
Industrial facilities in Sergeant Bluff, IA; Bossier City, LA; and Alvarado, TX	28,496		2,725		25,233		28,116		(3,395		)	4,701		47,978		52,679		7,794		Various	Aug. 2008	25 - 40 yrs.
Industrial facility in Waldaschaff, Germany	—		10,373		16,708		—		(13,566		)	5,125		8,390		13,515		4,302		1937	Aug. 2008	15 yrs.
Fitness facilities in Phoenix, AZ and Columbia, MD	34,419		14,500		48,865		—		(2,062		)	14,500		46,803		61,303		9,660		2006	Sep. 2008	40 yrs.
Office facility in Birmingham, United Kingdom	15,475		3,591		15,810		949		(4,801		)	2,724		12,825		15,549		2,257		2009	Sep. 2009	40 yrs.
Retail facility in Gorzow, Poland	5,622		1,095		13,947		—		(4,253		)	786		10,003		10,789		1,817		2008	Oct. 2009	40 yrs.
Office facility in Hoffman Estates, IL	25,725		5,000		21,764		—		—			5,000		21,764		26,764		3,847		2009	Dec. 2009	40 yrs.
Office facility in The Woodlands, TX	35,435		1,400		41,502		—		—			1,400		41,502		42,902		7,350		2009	Dec. 2009	40 yrs.
Retail facilities located throughout Spain	34,047		32,574		52,101		—		(20,749		)	24,660		39,266		63,926		6,799		Various	Dec. 2009	20 yrs.
Industrial facilities in Middleburg Heights and Union Township, OH	5,571		1,000		10,793		2		—			1,000		10,795		11,795		1,867		1990; 1997	Feb. 2010	40 yrs.
Industrial facilities in Phoenix, AZ; Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Safety Harbor, FL; Durham, NC; and Columbia, SC	12,487		19,001		13,059		—		—			19,001		13,059		32,060		2,597		Various	Mar. 2010	27 - 40 yrs.
Industrial facility in Evansville, IN	15,422		150		9,183		11,745		—			150		20,928		21,078		3,274		2009	Mar. 2010	40 yrs.
Warehouse facilities in Bristol, Cannock, Liverpool, Luton, Plymouth, Southampton, and Taunton, United Kingdom	3,768		8,639		2,019		—		(2,123		)	6,906		1,629		8,535		389		Various	Apr. 2010	28 yrs.
Warehouse facility in Zagreb, Croatia	35,380		31,941		45,904		—		(15,204		)	25,557		37,084		62,641		8,249		2001	Apr. 2010	30 yrs.
Office facilities in Tampa, FL	32,824		18,300		32,856		1,171		—			18,323		34,004		52,327		5,512		1985; 2000	May 2010	40 yrs.
Warehouse facility in Bowling Green, KY	25,663		1,400		3,946		33,809		—			1,400		37,755		39,155		5,040		2011	May 2010	40 yrs.
Warehouse facility in Elorrio, Spain	—		19,924		3,981		—		(2,678		)	21,227		—		21,227		—		1996	Jun. 2010	40 yrs.
Warehouse facility in Gadki, Poland	3,774		1,134		1,183		7,611		(2,512		)	844		6,572		7,416		944		2011	Aug. 2010	40 yrs.
Industrial and office facilities in Elberton, GA	—		560		2,467		—		—			560		2,467		3,027		450		1997; 2002	Sep. 2010	40 yrs.
Warehouse facilities in Rincon and Unadilla, GA	24,870		1,595		44,446		—		—			1,595		44,446		46,041		6,854		2000; 2006	Nov. 2010	40 yrs.
Office facility in Hartland, WI	3,138		1,402		2,041		—		—			1,402		2,041		3,443		360		2001	Nov. 2010	35 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(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)			Accumulated Depreciation ^(c)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Buildings	Cost Capitalized Subsequent to Acquisition^(a)	Increase (Decrease) in Net Investments ^(b)		Land	Buildings	Total	Accumulated Depreciation ^(c)	Date of Construction	Date Acquired
Retail facilities in Kutina, Slavonski Brod, Spansko, and Zagreb, Croatia	15,167	6,700	24,114	194	(6,437	)	5,271	19,300	24,571	3,911	2000; 2002; 2003	Dec. 2010	30 yrs.
Warehouse and office facilities located throughout the United States	106,203	31,735	129,011	855	(9,861	)	28,511	123,229	151,740	21,109	Various	Dec. 2010	40 yrs.
Office facility in Madrid, Spain	51,701	22,230	81,508	—	(20,482	)	17,837	65,419	83,256	9,818	2002	Dec. 2010	40 yrs.
Office facility in Houston, TX	3,158	1,838	2,432	—	20		1,838	2,452	4,290	590	1982	Dec. 2010	25 yrs.
Retail facility in Las Vegas, NV	39,720	26,934	31,037	26,048	(44,166	)	5,070	34,783	39,853	3,932	2012	Dec. 2010	40 yrs.
Warehouse facilities in Oxnard and Watsonville, CA	41,369	16,036	67,300	—	(7,149	)	16,036	60,151	76,187	10,049	1975; 1994; 2002	Jan. 2011	10 - 40 yrs.
Warehouse facility in Dillon, SC	17,745	1,355	15,620	1,600	(69	)	1,286	17,220	18,506	2,387	2001	Mar. 2011	40 yrs.
Warehouse facility in Middleburg Heights, OH	—	600	1,690	—	—		600	1,690	2,290	243	2002	Mar. 2011	40 yrs.
Office facility in Martinsville, VA	8,054	600	1,998	11,331	—		600	13,329	13,929	1,671	2011	May 2011	40 yrs.
Land in Chicago, IL	4,757	7,414	—	—	—		7,414	—	7,414	—	N/A	Jun. 2011	N/A
Industrial facility in Fraser, MI	3,895	928	1,392	6,193	(80	)	928	7,505	8,433	968	2012	Sep. 2011	35 yrs.
Retail facilities located throughout Italy	165,336	91,691	262,377	—	(78,083	)	71,058	204,927	275,985	29,660	Various	Sep. 2011	29 - 40 yrs.
Retail facilities in Delnice, Pozega, and Sesvete, Croatia	15,802	2,687	24,820	15,378	(10,055	)	3,131	29,699	32,830	5,030	2011	Nov. 2011	30 yrs.
Retail facility in Orlando, FL	—	32,739	—	19,959	(32,739	)	5,577	14,382	19,959	957	2011	Dec. 2011	40 yrs.
Land in Hudson, NY	735	2,080	—	—	—		2,080	—	2,080	—	N/A	Dec. 2011	N/A
Office facilities in Aurora, Eagan, and Virginia, MN	92,400	13,546	110,173	—	993		13,546	111,166	124,712	18,722	Various	Jan. 2012	32 - 40 yrs.
Industrial facility in Chmielów, Poland	15,849	1,323	5,245	30,804	(4,914	)	1,737	30,721	32,458	2,542	2012	Apr. 2012	40 yrs.
Office facility in St. Louis, MO	5,524	954	4,665	1,685	—		954	6,350	7,304	659	1995	Jul. 2012	38 yrs.
Industrial facility in Avon, OH	3,413	926	4,975	—	—		926	4,975	5,901	671	2001	Aug. 2012	35 yrs.
Industrial facility in Elk Grove Village, IL	8,797	1,269	11,317	163	—		1,269	11,480	12,749	2,345	1961	Aug. 2012	40 yrs.
Education facilities in Montgomery, AL and Savannah, GA	15,513	5,255	16,960	—	—		5,255	16,960	22,215	2,236	1969; 2002	Sep. 2012	40 yrs.
Automotive dealerships in Huntsville, AL; Bentonville, AR; Bossier City, LA; Lee’s Summit, MO; Fayetteville, TN; and Fort Worth, TX	—	17,283	32,225	—	(15	)	17,269	32,224	49,493	6,178	Various	Sep. 2012	16 yrs.
Office facility in Warrenville, IL	18,477	3,698	28,635	—	—		3,698	28,635	32,333	3,534	2002	Sep. 2012	40 yrs.
Office and warehouse facility in Zary, Poland	2,716	356	1,168	6,910	(1,618	)	288	6,528	6,816	626	2013	Sep. 2012	40 yrs.
Industrial facility in Sterling, VA	13,682	3,118	14,007	5,071	—		3,118	19,078	22,196	2,401	1980	Oct. 2012	35 yrs.
Office facility in Houston, TX	127,785	19,331	123,084	6,494	2,899		19,331	132,477	151,808	18,166	1973	Nov. 2012	30 yrs.
Retail facility in Orlando, FL	58,283	3,307	10,607	104,619	—		26,000	92,533	118,533	3,986	2012	Nov. 2012	40 yrs.
Education facility in Eagan, MN	9,083	2,104	11,462	—	(85	)	1,994	11,487	13,481	1,421	2003	Dec. 2012	35 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(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)			Accumulated Depreciation ^(c)	Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Buildings	Cost Capitalized Subsequent to Acquisition^(a)	Increase (Decrease) in Net Investments ^(b)		Land	Buildings	Total	Accumulated Depreciation ^(c)	Date of Construction	Date Acquired
Warehouse facility in Saitama Prefecture, Japan	22,159	17,292	28,575	—	(13,676	)	12,136	20,055	32,191	3,248	2007	Dec. 2012	26 yrs.
Retail facilities in Bjelovar, Karlovac, Krapina, Krizevci, Metkovic, Novigrad, Porec, Umag, and Vodnjan, Croatia	18,989	5,059	28,294	6,634	(7,877	)	5,740	26,370	32,110	2,785	Various	Dec. 2012	32 - 40 yrs.
Industrial facility in Portage, WI	4,634	3,338	4,556	502	—		3,338	5,058	8,396	758	1970	Jan. 2013	30 yrs.
Retail facility in Dallas, TX	9,662	4,441	9,649	—	—		4,441	9,649	14,090	957	1913	Feb. 2013	40 yrs.
Warehouse facility in Dillon, SC	25,826	3,096	2,281	37,989	—		3,096	40,270	43,366	2,602	2013	Mar. 2013	40 yrs.
Land in Chicago, IL	—	15,459	—	—	—		15,459	—	15,459	—	N/A	Apr. 2013	N/A
Office facility in Northbrook, IL	5,463	—	942	—	—		—	942	942	222	2007	May 2013	40 yrs.
Industrial facility in Wageningen, Netherlands	16,715	4,790	24,301	47	(5,639	)	3,901	19,598	23,499	1,750	2013	Jul. 2013	40 yrs.
Warehouse facilities in Gadki, Poland	29,867	9,219	48,578	121	(11,148	)	7,444	39,326	46,770	3,755	2007; 2010	Jul. 2013	40 yrs.
Automotive dealership in Lewisville, TX	9,346	3,269	9,605	—	—		3,269	9,605	12,874	1,126	2004	Aug. 2013	39 yrs.
Office facility in Auburn Hills, MI	5,904	789	7,163	—	—		789	7,163	7,952	626	2012	Oct. 2013	40 yrs.
Office facility in Haibach, Germany	8,375	2,544	11,114	—	(3,002	)	1,985	8,671	10,656	1,040	1993	Oct. 2013	30 yrs.
Office facility in Tempe, AZ	14,726	—	16,996	4,272	—		—	21,268	21,268	1,761	2000	Dec. 2013	40 yrs.
Office facility in Tucson, AZ	8,102	2,440	11,175	—	—		2,440	11,175	13,615	1,007	2002	Feb. 2014	38 yrs.
Industrial facility in Drunen, Netherlands	9,419	990	6,328	7,922	(357	)	1,292	13,591	14,883	562	2014	Apr. 2014	40 yrs.
Industrial facility in New Concord, OH	1,594	784	2,636	—	—		784	2,636	3,420	245	1999	Apr. 2014	35 - 40 yrs.
Office facility in Krakow, Poland	5,079	2,771	6,549	—	(1,728	)	2,257	5,335	7,592	351	2003	Sep. 2014	40 yrs.
Retail facility in Gelsenkirchen, Germany	12,814	2,060	17,534	123	(3,253	)	1,719	14,745	16,464	1,023	2000	Oct. 2014	35 yrs.
Office facility in Plymouth, Minnesota	22,099	2,601	15,599	5,743	925		2,601	22,267	24,868	1,565	1999	Dec. 2014	40 yrs.
Office facility in San Antonio, TX	14,159	3,131	13,124	—	—		3,131	13,124	16,255	760	2002	Jan. 2015	40 yrs.
Warehouse facilities in Mszczonów and Tomaszów Mazowiecki, Poland	29,981	10,108	35,856	8	(3,177	)	9,407	33,388	42,795	2,158	1995; 2000	Feb. 2015	31 yrs.
Retail facilities in Joliet, IL; Fargo, ND; and Ashwaubenon, Brookfield, Greendale, and Wauwatosa, WI	41,836	20,936	34,627	332	—		20,936	34,959	55,895	2,230	Various	Jun. 2015	27 - 29 yrs.
Warehouse facility in Sered, Slovakia	10,588	4,059	15,297	8,896	(1,281	)	3,889	23,082	26,971	778	2004	Jul. 2015	36 yrs.
Industrial facility in Tuchomerice, Czech Republic	16,376	9,424	21,860	256	(2,395	)	9,124	20,021	29,145	631	1998	Dec. 2015	40 yrs.
Office facility in Warsaw, Poland	36,144	—	54,296	9	(1,725	)	—	52,580	52,580	1,431	2015	Dec. 2015	40 yrs.
Net-lease student housing facility in Jacksonville, FL	11,922	870	15,787	—	—		870	15,787	16,657	408	2015	Jan. 2016	40 yrs.
Warehouse facilities in Houston, TX	—	2,210	1,362	—	—		2,210	1,362	3,572	42	1972	Feb. 2016	38 yrs.
Office facility in Oak Creek, WI	—	2,801	11,301	—	—		2,801	11,301	14,102	136	2000	Sep. 2016	35 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(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)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Cost Capitalized Subsequent to Acquisition^(a)		Increase (Decrease) in Net Investments ^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Warehouse facility in Perrysburg, OH	—		774		11,756		—		—			774		11,756		12,530		120		1974	Sep. 2016	30 yrs.
Warehouse facilities in Shelbyville, IN; Kalamazoo, MI; Tiffin, OH; Andersonville, TN; and Millwood, WV	—		2,706		24,178		10,585		—			3,086		34,383		37,469		192		Various	Nov. 2016	28 - 40 yrs.
Warehouse facility in Zabia Wola, Poland	—		3,441		20,654		81		(107		)	3,425		20,644		24,069		52		1999	Nov. 2016	40 yrs.
Warehouse facility in Kaunas, Lithuania	38,676		2,194		42,109		160		(431		)	2,172		41,860		44,032		52		2008	Dec. 2016	40 yrs.
	$	1,631,728	$	648,055	$	2,047,866	$	404,387	$	(354,884	)	$	563,050	$	2,182,374	$	2,745,424	$	280,657

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(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		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
Direct Financing Method
Industrial and office facilities in Nagold, Germany	$	—	$	6,012	$	41,493	$	—	$	(29,477	)	$	18,028	1937; 1994	Aug. 2008
Industrial facilities in Mayodan, Sanford, and Stoneville, NC	—		3,100		35,766		—		(2,579		)	36,287		1992; 1997; 1998	Dec. 2008
Industrial facility in Glendale Heights, IL	17,000		3,820		11,148		18,245		3,009			36,222		1991	Jan. 2009
Office facility in New York City, NY	102,985		—		233,720		—		14,887			248,607		2007	Mar. 2009
Industrial facilities in Colton, Fresno, Los Angeles, Orange, Pomona, and San Diego, CA; Holly Hill, FL; Rockmart, GA; Ooltewah, TN; and Dallas, TX	9,155		1,730		20,778		—		(907		)	21,601		Various	Mar. 2010
Warehouse facilities in Bristol, Leeds, Liverpool, Luton, Newport, Plymouth, and Southampton, United Kingdom	8,351		508		24,009		—		(6,460		)	18,057		Various	Apr. 2010
Retail facilities in Dugo Selo and Samobor, Croatia	7,742		1,804		11,618		—		(2,875		)	10,547		2002; 2003	Dec. 2010
Warehouse facility in Oxnard, CA	5,715		—		8,957		—		180			9,137		1975	Jan. 2011
Industrial facilities in Bartow, FL; Momence, IL; Smithfield, NC; Hudson, NY; and Ardmore, OK	21,081		3,750		50,177		—		5,756			59,683		Various	Apr. 2011
Industrial facility in Clarksville, TN	4,150		600		7,291		—		405			8,296		1998	Aug. 2011
Industrial facility in Countryside, IL	1,934		425		1,800		—		41			2,266		1981	Dec. 2011
Industrial facility in Bluffton, IN	1,853		264		3,407		—		19			3,690		1975	Apr. 2014
Retail facilities in Joliet, Illinois and Greendale, Wisconsin	15,092		—		19,002		2		355			19,359		1970; 1978	Jun. 2015
Warehouse facility in Houston, TX	—		—		4,233		—		49			4,282		1972	Feb. 2016
Industrial facilities in Sedalia, MO; Lumberton and Mount Airy, NC; Lima and Miamisburg, OH; and Wilkes-Barre, PA	—		2,142		10,085		—		103			12,330		Various	Apr. 2016
	$	195,058	$	24,155	$	483,484	$	18,247	$	(17,494	)	$	508,392

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(in thousands)



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)			Gross Amount at which Carried at Close of Period ^(c)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)			Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
Operating Real Estate – Self-Storage Facilities
Fort Worth, TX	$	3,593	$	610	$	2,672	$	62	$	36		$	610	$	2,770	$	3,380	$	497	2004	Apr. 2011	33 yrs.
Palm Springs, CA	6,022		1,287		3,124		91		36			1,287		3,251		4,538		626		1989	Jun. 2011	30 yrs.
Kailua-Kona, HI	3,860		1,000		1,108		61		38			1,000		1,207		2,207		290		1987	Jun. 2011	30 yrs.
Chicago, IL	3,536		600		4,124		207		10			600		4,341		4,941		732		1916	Jun. 2011	25 yrs.
Chicago, IL	2,528		400		2,074		224		4			400		2,302		2,702		397		1968	Jun. 2011	30 yrs.
Rockford, IL	1,835		548		1,881		27		22			548		1,930		2,478		438		1979	Jun. 2011	25 yrs.
Rockford, IL	594		114		633		139		41			114		813		927		177		1979	Jun. 2011	25 yrs.
Rockford, IL	2,333		380		2,321		45		(98		)	337		2,311		2,648		521		1957	Jun. 2011	25 yrs.
Kihei, HI	5,200		2,523		7,481		718		26			2,523		8,225		10,748		1,145		1991	Aug. 2011	40 yrs.
National City, CA	2,447		3,158		1,483		151		17			3,158		1,651		4,809		328		1987	Aug. 2011	28 yrs.
Mundelein, IL	3,460		1,080		5,287		258		69			1,080		5,614		6,694		1,228		1991	Aug. 2011	25 yrs.
Pearl City, HI	6,454		—		5,141		489		22			—		5,652		5,652		1,508		1977	Aug. 2011	20 yrs.
Palm Springs, CA	1,963		1,019		2,131		313		7			1,019		2,451		3,470		472		1987	Sep. 2011	28 yrs.
Loves Park, IL	1,153		394		3,390		64		(122		)	394		3,332		3,726		892		1997	Sep. 2011	20 yrs.
Mundelein, IL	699		535		1,757		157		21			535		1,935		2,470		506		1989	Sep. 2011	20 yrs.
Chicago, IL	3,074		1,049		5,672		247		7			1,049		5,926		6,975		1,033		1988	Sep. 2011	30 yrs.
Beaumont, CA	2,582		1,616		2,873		94		14			1,616		2,981		4,597		498		1992	Nov. 2011	40 yrs.
San Bernardino, CA	989		698		1,397		95		15			698		1,507		2,205		242		1989	Nov. 2011	40 yrs.
Peoria, IL	3,055		549		2,424		37		6			549		2,467		3,016		530		1990	Nov. 2011	35 yrs.
East Peoria, IL	2,315		409		1,816		64		8			409		1,888		2,297		378		1986	Nov. 2011	35 yrs.
Loves Park, IL	1,738		439		998		227		155			439		1,380		1,819		269		1978	Nov. 2011	35 yrs.
Hesperia, CA	854		648		1,377		85		8			648		1,470		2,118		256		1989	Dec. 2011	40 yrs.
Cherry Valley, IL	1,700		1,076		1,763		15		18			1,076		1,796		2,872		561		1988	Jul. 2012	20 yrs.
Fayetteville, NC	3,088		1,677		3,116		53		10			1,677		3,179		4,856		598		2001	Sep. 2012	34 yrs.
Cathedral City, CA	1,313		—		2,275		12		15			—		2,302		2,302		337		1990	Mar. 2013	34 yrs.
Hilo, HI	7,876		296		4,996		12		—			296		5,008		5,304		453		2007	Jun. 2013	40 yrs.
Clearwater, FL	3,734		924		2,966		51		14			924		3,031		3,955		354		2001	Jul. 2013	32 yrs.
Winder, GA	967		546		30		7		8			546		45		591		12		2006	Jul. 2013	31 yrs.
Winder, GA	3,328		495		1,253		51		9			495		1,313		1,808		248		2001	Jul. 2013	25 yrs.
Orlando, FL	5,691		1,064		4,889		116		18			1,064		5,023		6,087		530		2000	Aug. 2013	35 yrs.
Palm Coast, FL	3,364		1,749		3,285		63		155			1,749		3,503		5,252		517		2001	Sep. 2013	29 yrs.
Holiday, FL	2,213		1,829		1,097		587		9			1,829		1,693		3,522		219		1975	Nov. 2013	23 yrs.

SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued)

December 31, 2016

(in thousands)



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)		Gross Amount at which Carried at Close of Period ^(c)						Accumulated Depreciation ^(c)		Date of Construction	Date Acquired	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Buildings		Costs Capitalized Subsequent to Acquisition ^(a)		Increase (Decrease) in Net Investments^(b)		Land		Buildings		Total		Accumulated Depreciation ^(c)		Date of Construction	Date Acquired
New York City, NY	11,826		5,692		16,076		—		—		5,692		16,076		21,768		291		1963	Apr. 2016	40 yrs.
New York City, NY	20,014		5,823		31,032		—		—		5,823		31,032		36,855		567		2005	Apr. 2016	40 yrs.
New York City, NY	19,249		6,184		35,188		—		—		6,184		35,188		41,372		653		2007	Apr. 2016	40 yrs.
New York City, NY	14,233		8,120		18,502		—		—		8,120		18,502		26,622		388		1948	Apr. 2016	35 yrs.
New York City, NY	5,517		1,157		10,167		64		—		1,157		10,231		11,388		185		1928	Apr. 2016	40 yrs.
	$	164,397	$	55,688	$	197,799	$	4,886	$	598	$	55,645	$	203,326	$	258,971	$	18,876

___________


(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) changes in foreign currency exchange rates, (ii) sales of properties, (iii) impairment charges, and (iv) the amortization of unearned income from net investment in direct financing leases, which produces a periodic rate of return that at times may be greater or less than lease payments received.


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

NOTES TO SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION

(in thousands)



	Reconciliation of Real Estate Subject to Operating Leases
	Years Ended December 31,
	2016			2015			2014
Beginning balance	$	2,658,877		$	2,396,715		$	2,402,315
Additions	142,142			222,739			65,115
Foreign currency translation adjustment	(36,617		)	(99,252		)	(124,536		)
Impairment charges	(29,183		)	—			—
Reclassification from real estate under construction	21,825			129,225			83,006
Reclassification to assets held for sale	(18,882		)	—			—
Improvements	7,262			9,450			3,554
Dispositions	—			—			(32,739		)
Ending balance	$	2,745,424		$	2,658,877		$	2,396,715



	Reconciliation of Accumulated Depreciation for Real Estate Subject to Operating Leases
	Years Ended December 31,
	2016			2015			2014
Beginning balance	$	225,867		$	175,478		$	129,051
Depreciation expense	62,808			57,831			54,976
Reclassification to assets held for sale	(4,032		)	—			—
Foreign currency translation adjustment	(3,986		)	(7,442		)	(8,549		)
Ending balance	$	280,657		$	225,867		$	175,478



	Reconciliation of Operating Real Estate
	Years Ended December 31,
	2016			2015		2014
Beginning balance	$	275,521		$	272,859	$	283,370
Dispositions	(156,951		)	—		(27,487		)
Additions	137,958			—		—
Improvements	2,443			2,662		2,047
Reclassification from real estate under construction	—			—		14,929
Ending balance	$	258,971		$	275,521	$	272,859



	Reconciliation of Accumulated Depreciation for Operating Real Estate
	Years Ended December 31,
	2016			2015		2014
Beginning balance	$	30,308		$	22,217	$	15,354
Dispositions	(19,223		)	—		(1,801		)
Depreciation expense	7,791			8,091		8,664
Ending balance	$	18,876		$	30,308	$	22,217

At December 31, 2016, the aggregate cost of real estate that we and our consolidated subsidiaries own for federal income tax purposes was approximately $4.1 billion.