Financial Reports
SECOND QUARTER 2008 FINANCIAL HIGHLIGHTS
CPA®:16 - Global 2008 Second Quarter Report
We are pleased to provide you with updated information about our portfolio for the second quarter of 2008.
Portfolio Update
During the second quarter of 2008, we completed investments in the United States, Finland, France and Germany at a total cost of approximately $66 million. These included the purchase and leaseback of precision parts manufacturer The Leipold Group’s corporate headquarters and manufacturing facilities, the headquarters/industrial site of material handling machinery and mobile harbor crane producer, Mantsinen Group, and two manufacturing facilities leased back to reusable transit packaging company Schoeller Arca Systems. Since the end of the second quarter, we have provided approximately $21 million of a total $69 million in sale-leaseback and build-to-suit financing to Actebis AG, Europe’s third largest wholesale distributor of IT goods and services.
As of June 30, 2008, we own full or partial interests in 383 properties leased to 75 tenants. Totaling approximately 26 million square feet, these properties are located throughout the United States, Canada, Europe, Mexico, Malaysia and Thailand.
As the economic environment remains challenging, we will continue to manage our portfolio of properties closely and aggressively in order to create value for our shareholders. We do this by restructuring leases, refinancing mortgages, selling and releasing properties. We are proud that our portfolio of properties is over 99% occupied and broadly diversified by industry, region and property type.
Increasing Distributions
We strive to provide investors with income in the form of increasing distributions. Our board of directors increased the 2008 second quarter distribution to $0.1642 per share, which was paid on July 15, 2008 to shareholders of record as of June 30, 2008.
Madison’s Tender Offer
Madison Liquidity Investors has solicited CPA® investors for several years offering to acquire their shares at a steep discount. We recommend that you do not sell your shares to Madison Liquidity Investors. We strongly encourage you to contact your financial advisor, W. P. Carey’s Investor Relations Department at 1-800-WP CAREY or by email at IR@wpcarey.com, or view the Securities and Exchange Commission’s website, www.sec.gov, which can provide additional information on the dangers of these types of tender offers.
Distribution Reinvestment and Share Purchase Plan (DRIP)
As a reminder, our DRIP enables you to reinvest your quarterly distributions in new CPA®:16 – Global shares at our current NAV - $10 per share - and enjoy the effects of compounding returns. It’s a convenient and cost-effective way to increase your investment portfolio. For more information about how you can take advantage of this program, please contact our Investor Relations Department at 1-800-WP CAREY or IR@wpcarey.com.
Online Account Access
Please consider receiving your future investor correspondence, such as this quarterly report, electronically. Register at www.wpcarey.com/ShareholderAccess and you will find a convenient and cost-effective way to access your CPA®:16 – Global investment information online 24 hours a day, seven days a week. In addition to lowering shareholder expenses, you will be able to access your current investment balances and distribution history, among other options.
Please note that these highlights provide only a summary of the information contained in our quarterly report on Form 10-Q for the three and six months ended June 30, 2008, which we have filed with the Securities and Exchange Commission. We encourage you to read the full report, which can be found at www.cpa16global.com.
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