Net Investments in Properties and Real Estate Under Construction (Tables)
 12 Months Ended
Dec. 31, 2016
Real Estate [Abstract]  
Schedule of Real Estate Properties
Operating real estate, which consists of our wholly owned domestic self-storage operations, at cost, is summarized as follows (in thousands):
 
December 31,
 
2016
 
2015
Land
$
55,645

 
$
66,066

Buildings and improvements
203,326

 
209,455

Less: Accumulated depreciation
(18,876
)
 
(30,308
)
 
$
240,095

 
$
245,213

Real estate, which consists of land and buildings leased to others, at cost, and which are subject to operating leases, is summarized as follows (in thousands):
 
December 31,
 
2016
 
2015
Land
$
563,050

 
$
560,257

Buildings and improvements
2,182,374

 
2,098,620

Less: Accumulated depreciation
(280,657
)
 
(225,867
)
 
$
2,464,767

 
$
2,433,010
Schedule of Future Minimum Rental Payments for Operating Leases
Scheduled future minimum rents, exclusive of renewals, expenses paid by tenants, and future CPI-based adjustments, under non-cancelable operating leases at December 31, 2016 are as follows (in thousands):
Years Ending December 31, 
 
Total
2017
 
$
273,850

2018
 
276,352

2019
 
277,570

2020
 
281,007

2021
 
283,365

Thereafter
 
2,696,890

Total
 
$
4,089,034
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following tables present a summary of assets acquired and liabilities assumed, and revenues and earnings thereon since the date of acquisition through December 31, 2016 (in thousands):
 
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
Cash consideration
$
11,363

Assets acquired at fair value:
 
Land (a)
$
26,941

Buildings (a)
109,399

In-place lease intangible assets (a)
9,783

Other assets acquired
1,705

 
147,828

Liabilities assumed at fair value:
 
Non-recourse debt, net
(70,578
)
Other liabilities assumed
(831
)
 
(71,409
)
Total identifiable net assets
76,419

Gain on change in control of interests
(49,922
)
Carrying value of previously held equity investment
(15,134
)
 
$
11,363

(a) The purchase price for this transaction was allocated to the assets acquired and liabilities assumed based upon its preliminary fair value. The information in this table is based on the best estimates of management as of the date of this Report. We are in the process of finalizing our assessment of the fair value of the assets acquired and liabilities assumed; accordingly, the fair value of the assets acquired and liabilities assumed are subject to change.
Schedule Of Revenues and Net Income
 
Madison Storage NYC, LLC and Veritas Group IX-NYC, LLC
 
April 11, 2016 through
December 31, 2016
Revenues
$
7,166

 
 
Net loss (b) (c)
$
(9,021
)
Net loss attributable to CPA®:17 – Global (b) (c)
$
(9,021
)
(b) Excludes a $49.9 million gain on change in control of interests.
(c) Includes equity in losses of equity method investments in real estate of $0.4 million.

Business Acquisition, Pro Forma Information
The pro forma financial information is not necessarily indicative of what the actual results would have been had the acquisition actually occurred on January 1, 2015, nor does it purport to represent the results of operations for future periods.

(In thousands, except per share data)
 
Years Ended December 31,
 
2016
 
2015
Pro forma total revenues
$
442,972

 
$
437,295

 
 
 
 
Pro forma net income (a)
$
184,487

 
$
165,489

Pro forma net income attributable to noncontrolling interests
(38,863
)
 
(39,915
)
Pro forma net income attributable to CPA®:17 – Global
$
145,624

 
$
125,574

Pro forma basic and diluted weighted-average shares outstanding
342,147,444

 
334,468,362

Pro-forma basic and diluted income per share
$
0.43

 
$
0.38

___________
(a) Pro forma net income for 2015 includes a gain on change in control of interests of $49.9 million and transaction costs of $3.7 million as if they were recognized on January 1, 2015.

Real Estate Under Construction
The following table provides the activity of our Real estate under construction (in thousands):
 
Years Ended December 31,
 
2016
 
2015
Beginning balance
$
1,068

 
$
110,983

Placed into service
(23,819
)
 
(130,704
)
Capitalized funds
22,762

 
20,064

Capitalized interest
—

 
2,200

Foreign currency translation adjustments
(11
)
 
(1,475
)
Ending balance
$
—

 
$
1,068
Disclosure of Long Lived Assets Held-for-sale
Below is a summary of our properties held for sale (in thousands):
 
December 31,
 
2016
 
2015
Real estate, net
$
14,850

 
$
—

Assets held for sale
$
14,850

 
$
—
Schedule of Change in Asset Retirement Obligation
The following table provides the activity of our asset retirement obligations, which are included in Accounts payable, accrued expenses and other liabilities in the consolidated financial statements (in thousands):
 
Years Ended December 31,
 
2016
 
2015
Beginning balance
$
25,424

 
$
23,271

Reductions due to dispositions
(10,541
)
 
—

Additions
1,888

 
825

Accretion expense (a)
1,292

 
1,467

Foreign currency translation adjustments and other
(314
)
 
(139
)
Ending balance
$
17,749

 
$
25,424

__________
(a)
Accretion of the liability is included in Property expenses in the consolidated financial statements and recognized over the economic life of the properties.