##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended June 30, 2010
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File Number: 000-52891
 
 CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
  Maryland
    
    20-8429087(State of incorporation)
    
    (I.R.S. Employer Identification No.)50 Rockefeller PlazaNew York, New York
    
    10020(Address of principal executive office)
    
    (Zip Code)
 Investor Relations (212) 492-8920
(212) 492-1100
 Yes þ No o
 Yes o No o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer þ
    
    Smaller reporting company o(Do not check if a smaller reporting company)
 Yes o No þ




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##### 



INDEX
 Page No.PART I  FINANCIAL INFORMATIONItem 1. Financial Statements (Unaudited)Consolidated Balance Sheets
    
    
    2Consolidated Statements of Income
    
    
    3Consolidated Statements of Comprehensive Loss (Income)
    
    
    4Consolidated Statements of Equity
    
    
    5Consolidated Statements of Cash Flows
    
    
    6Notes to Consolidated Financial Statements
    
    
    7Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    21Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    33Item 4. Controls and Procedures
    
    
    34PART II  OTHER INFORMATIONItem 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    35Item 6. Exhibits
    
    
    36Signatures
    
    
    37Exhibit 31.1Exhibit 31.2Exhibit 32
  Forward Looking Statements
  CPA ® :17  Global 6/30/2010 10-Q 1




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##### Table of Contents



PART I
 
 Item 1. Financial Statements
 CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 CONSOLIDATED BALANCE SHEETS

 (UNAUDITED)  (in thousands, except share and per share amounts)
 June 30, 2010
    
    
    December 31, 2009AssetsInvestments in real estate:Real estate, at cost
    
    $
    557,205
    
    
    $
    326,507Accumulated depreciation
    
    
    (9,941
    )
    
    
    (5,957
    )Net investments in properties
    
    
    547,264
    
    
    
    320,550Net investment in direct financing leases
    
    
    381,622
    
    
    
    303,250Real estate under construction
    
    
    5,372
    
    
    
    31,037Equity investments in real estate
    
    
    49,555
    
    
    
    43,495Operating real estate, net
    
    
    12,100
    
    
    
    Net investments in real estate
    
    
    995,913
    
    
    
    698,332Cash and cash equivalents
    
    
    273,666
    
    
    
    281,554Intangible assets, net
    
    
    109,480
    
    
    
    46,666Other assets, net
    
    
    102,044
    
    
    
    41,320Total assets
    
    $
    1,481,103
    
    
    $
    1,067,872Liabilities and EquityLiabilities:Debt
    
    $
    470,042
    
    
    $
    300,908Accounts payable, accrued expenses and other liabilities
    
    
    10,609
    
    
    
    4,533Prepaid and deferred rental income
    
    
    18,922
    
    
    
    13,236Due to affiliates
    
    
    15,885
    
    
    
    8,383Distributions payable
    
    
    16,471
    
    
    
    11,675Total liabilities
    
    
    531,929
    
    
    
    338,735Commitments and contingencies (Note 11)Equity:CPA®:17  Global shareholders equity:Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued
    
    
    
    
    
    
    Common stock, $0.001 par value; 400,000,000 shares authorized; 110,546,244 and
80,135,401 shares issued, respectively
    
    
    111
    
    
    
    82Additional paid-in capital
    
    
    987,865
    
    
    
    718,057Distributions in excess of accumulated earnings
    
    
    (70,756
    )
    
    
    (53,118
    )Accumulated other comprehensive loss
    
    
    (33,605
    )
    
    
    (4,902
    )883,615
    
    
    
    660,119Less, treasury stock at cost, 508,221 and 248,833 shares, respectively
    
    
    (4,726
    )
    
    
    (2,314
    )Total CPA®:17  Global shareholders equity
    
    
    878,889
    
    
    
    657,805Noncontrolling interests
    
    
    70,285
    
    
    
    71,332Total equity
    
    
    949,174
    
    
    
    729,137Total liabilities and equity
    
    $
    1,481,103
    
    
    $
    1,067,872
 Note:
    
    Substantially all our assets and liabilities are held through our operating partnership. See Note 2 for further information.  CPA ® :17  Global 6/30/2010 10-Q 2




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CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 CONSOLIDATED STATEMENTS OF INCOME

 (UNAUDITED)  (in thousands, except share and per share amounts)
 Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009RevenuesRental income
    
    $
    12,272
    
    
    $
    4,462
    
    
    $
    20,684
    
    
    $
    8,733Interest income from direct financing leases
    
    
    10,234
    
    
    
    8,439
    
    
    
    19,601
    
    
    
    12,204Other real estate income
    
    
    540
    
    
    
    
    
    
    
    540
    
    
    
    Interest income from commercial mortgage-backed securities
    
    
    518
    
    
    
    683
    
    
    
    1,035
    
    
    
    1,35623,564
    
    
    
    13,584
    
    
    
    41,860
    
    
    
    22,293ExpensesDepreciation and amortization
    
    
    (3,487
    )
    
    
    (1,180
    )
    
    
    (5,819
    )
    
    
    (2,266
    )General and administrative
    
    
    (1,633
    )
    
    
    (821
    )
    
    
    (2,610
    )
    
    
    (2,063
    )Property expenses
    
    
    (1,453
    )
    
    
    (1,535
    )
    
    
    (2,648
    )
    
    
    (2,897
    )Other real estate expenses
    
    
    (307
    )
    
    
    
    
    
    
    (307
    )
    
    
    (6,880
    )
    
    
    (3,536
    )
    
    
    (11,384
    )
    
    
    (7,226
    )Other Income and ExpensesIncome from equity investments in real estate
    
    
    120
    
    
    
    332
    
    
    
    518
    
    
    
    723Other income and (expenses)
    
    
    430
    
    
    
    114
    
    
    
    494
    
    
    
    (1,448
    )Interest expense
    
    
    (6,612
    )
    
    
    (2,041
    )
    
    
    (11,928
    )
    
    
    (4,133
    )(6,062
    )
    
    
    (1,595
    )
    
    
    (10,916
    )
    
    
    (4,858
    )Income before income taxes
    
    
    10,622
    
    
    
    8,453
    
    
    
    19,560
    
    
    
    10,209(Provision for) benefit from income taxes
    
    
    (117
    )
    
    
    (279
    )
    
    
    351
    
    
    
    (520
    )Net Income
    
    
    10,505
    
    
    
    8,174
    
    
    
    19,911
    
    
    
    9,689Less: Net income attributable to noncontrolling interests
    
    
    (3,850
    )
    
    
    (3,730
    )
    
    
    (7,133
    )
    
    
    (4,947
    )Net Income Attributable to CPA®:17  Global Shareholders
    
    $
    6,655
    
    
    $
    4,444
    
    
    $
    12,778
    
    
    $
    4,742Earnings Per ShareNet income attributable to CPA®:17  Global shareholders
    
    $
    0.06
    
    
    $
    0.09
    
    
    $
    0.13
    
    
    $
    0.11Weighted Average Shares Outstanding
    
    
    103,065,554
    
    
    
    47,065,275
    
    
    
    95,206,876
    
    
    
    42,633,263Distributions
Declared Per Share
    
    $
    0.1600
    
    
    $
    0.1575
    
    
    $
    0.3183
    
    
    $
    0.3137
  CPA ® :17  Global 6/30/2010 10-Q 3




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##### Table of Contents



CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

(UNAUDITED)  (in thousands)
 Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net Income
    
    $
    10,505
    
    
    $
    8,174
    
    
    $
    19,911
    
    
    $
    9,689Other Comprehensive (Loss) Income:Foreign
currency translation adjustments
    
    
    (17,833
    )
    
    
    2,755
    
    
    
    (27,476
    )
    
    
    294Change in unrealized loss on derivative instruments
    
    
    (2,248
    )
    
    
    30
    
    
    
    (3,738
    )
    
    
    28(20,081
    )
    
    
    2,785
    
    
    
    (31,214
    )
    
    
    322Comprehensive (loss) income
    
    
    (9,576
    )
    
    
    10,959
    
    
    
    (11,303
    )
    
    
    10,011Amounts Attributable to Noncontrolling Interests:Net income
    
    
    (3,850
    )
    
    
    (3,730
    )
    
    
    (7,133
    )
    
    
    (4,947
    )Foreign
currency translation adjustments
    
    
    915
    
    
    
    (753
    )
    
    
    1,553
    
    
    
    42Change in unrealized loss (gain) on derivative instruments
    
    
    435
    
    
    
    
    
    
    
    958
    
    
    
    Comprehensive income attributable to noncontrolling interests
    
    
    (2,500
    )
    
    
    (4,483
    )
    
    
    (4,622
    )
    
    
    (4,905
    )Comprehensive (Loss) Income Attributable to CPA®:17 
Global Shareholders
    
    $
    (12,076
    )
    
    $
    6,476
    
    
    $
    (15,925
    )
    
    $
    5,106
  CPA ® :17  Global 6/30/2010 10-Q 4




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##### Table of Contents



CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 CONSOLIDATED STATEMENTS OF EQUITY
 
(UNAUDITED)   (in thousands, except share amounts)
 CPA®:17  Global ShareholdersDistributions
    
    
    Accumulated
    
    
    
    
    
    
    TotalAdditional
    
    
    in Excess of
    
    
    Other
    
    
    
    
    
    
    CPA®:17 Common
    
    
    Paid-In
    
    
    Accumulated
    
    
    Comprehensive
    
    
    Treasury
    
    
    Global
    
    
    NoncontrollingShares
    
    
    Stock
    
    
    Capital
    
    
    Earnings
    
    
    Loss
    
    
    Stock
    
    
    Shareholders
    
    
    Interests
    
    
    TotalBalance at January 1, 2009
    
    
    34,625,497
    
    
    $
    35
    
    
    $
    310,732
    
    
    $
    (11,056
    )
    
    $
    (2,288
    )
    
    $
    
    
    
    $
    297,423
    
    
    $
    30,074
    
    
    $
    327,497Shares issued, net of
offering costs
    
    
    45,244,803
    
    
    
    45
    
    
    
    404,651
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    404,696
    
    
    
    
    
    
    
    404,696Shares issued to affiliates
    
    
    265,101
    
    
    
    2
    
    
    
    2,674
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,676
    
    
    
    
    
    
    
    2,676Contributions from
noncontrolling interests
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    103,364
    
    
    
    103,364Distributions declared
($0.6324 per share)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (34,361
    )
    
    
    
    
    
    
    
    
    
    
    (34,361
    )
    
    
    
    
    
    
    (34,361
    )Distributions to
noncontrolling interests
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (71,946
    )
    
    
    (71,946
    )Net loss (income)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (7,701
    )
    
    
    
    
    
    
    
    
    
    
    (7,701
    )
    
    
    9,881
    
    
    
    2,180Other comprehensive loss:Foreign currency
translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (848
    )
    
    
    
    
    
    
    (848
    )
    
    
    166
    
    
    
    (682
    )Change in unrealized loss
on derivative instruments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (261
    )
    
    
    
    
    
    
    (261
    )
    
    
    (207
    )
    
    
    (468
    )Impairment loss on
commercial mortgage-
backed securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,505
    )
    
    
    
    
    
    
    (1,505
    )
    
    
    
    
    
    
    (1,505
    )Repurchase of shares
    
    
    (248,833
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,314
    )
    
    
    (2,314
    )
    
    
    
    
    
    
    (2,314
    )Balance at December 31, 2009
    
    
    79,886,568
    
    
    
    82
    
    
    
    718,057
    
    
    
    (53,118
    )
    
    
    (4,902
    )
    
    
    (2,314
    )
    
    
    657,805
    
    
    
    71,332
    
    
    
    729,137Shares issued, net of
offering costs
    
    
    30,238,267
    
    
    
    28
    
    
    
    268,082
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    268,110
    
    
    
    
    
    
    
    268,110Shares issued to affiliates
    
    
    172,576
    
    
    
    1
    
    
    
    1,726
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,727
    
    
    
    
    
    
    
    1,727Distributions declared
($0.3183 per share)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (30,416
    )
    
    
    
    
    
    
    
    
    
    
    (30,416
    )
    
    
    (5,669
    )
    
    
    (36,085
    )Net income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    12,778
    
    
    
    
    
    
    
    
    
    
    
    12,778
    
    
    
    7,133
    
    
    
    19,911Other comprehensive loss:Foreign currency
translation adjustments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (25,923
    )
    
    
    
    
    
    
    (25,923
    )
    
    
    (1,553
    )
    
    
    (27,476
    )Change in unrealized loss
on derivative instruments
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,780
    )
    
    
    
    
    
    
    (2,780
    )
    
    
    (958
    )
    
    
    (3,738
    )Repurchase of shares
    
    
    (259,388
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (2,412
    )
    
    
    (2,412
    )
    
    
    
    
    
    
    (2,412
    )Balance at June 30, 2010
    
    
    110,038,023
    
    
    $
    111
    
    
    $
    987,865
    
    
    $
    (70,756
    )
    
    $
    (33,605
    )
    
    $
    (4,726
    )
    
    $
    878,889
    
    
    $
    70,285
    
    
    $
    949,174
  CPA ® :17  Global 6/30/2010 10-Q 5




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##### Table of Contents



CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)  (in thousands)
 Six months ended June 30,2010
    
    
    2009Cash Flows  Operating ActivitiesNet income
    
    $
    19,911
    
    
    $
    9,689Adjustments to net income:Depreciation and amortization, including intangible assets
    
    
    5,834
    
    
    
    2,123Straight-line rent adjustments and amortization of rent-related intangibles
    
    
    (1,957
    )
    
    
    (1,426
    )Income from equity investment in real estate in excess of distributions received
    
    
    (154
    )
    
    
    (594
    )Issuance of shares to affiliate in satisfaction of fees due
    
    
    1,727
    
    
    
    1,050Amortization of discount on commercial mortgage-backed securities
    
    
    
    
    
    
    (321
    )Realized (gain) loss on foreign currency transactions
    
    
    (164
    )
    
    
    1,692Unrealized loss on foreign currency transactions
    
    
    91
    
    
    
    Allowance for uncollectible amounts
    
    
    
    
    
    
    1,758Increase in accounts receivable and prepaid expenses
    
    
    (2,088
    )
    
    
    (1,960
    )Increase in accounts payable and accrued expenses
    
    
    3,084
    
    
    
    1,342Increase in prepaid and deferred rental income
    
    
    3,812
    
    
    
    1,685Increase in due to affiliates
    
    
    4,382
    
    
    
    (430
    )Change in other operating assets and liabilities, net
    
    
    (406
    )
    
    
    (407
    )Net cash provided by operating activities
    
    
    34,072
    
    
    
    14,201Cash Flows  Investing ActivitiesDistributions received from equity investments in real estate in excess of equity income
    
    
    1,649
    
    
    
    Acquisitions of real estate and direct financing leases and other capital expenditures (a)
    
    
    (385,545
    )
    
    
    (246,930
    )Contributions to equity investments in real estate (a)
    
    
    (10,300
    )
    
    
    (2,125
    )VAT paid in connection with acquisitions in real estate
    
    
    (20,368
    )
    
    
    Proceeds from repayment of notes receivable
    
    
    7,000
    
    
    
    Funds for construction released from escrow
    
    
    186
    
    
    
    Funds for future investments placed in escrow
    
    
    (50,473
    )
    
    
    (107,410
    )Funds for future investments and sales released from escrow
    
    
    2,010
    
    
    
    75,934Payment of deferred acquisition fees to an affiliate
    
    
    (3,213
    )
    
    
    (1,252
    )Net cash used in investing activities
    
    
    (459,054
    )
    
    
    (281,783
    )Cash Flows  Financing ActivitiesDistributions paid
    
    
    (25,620
    )
    
    
    (10,466
    )Contributions from noncontrolling interests
    
    
    
    
    
    
    103,363Distributions to noncontrolling interests
    
    
    (5,669
    )
    
    
    (4,251
    )Proceeds from mortgage notes payable
    
    
    192,417
    
    
    
    Scheduled payments of mortgage principal
    
    
    (4,806
    )
    
    
    (1,142
    )Payment of mortgage deposits, net of deposits refunded
    
    
    (2,729
    )
    
    
    (2,261
    )Proceeds from issuance of shares, net of offering costs
    
    
    268,110
    
    
    
    158,876Purchase of treasury stock
    
    
    (2,412
    )
    
    
    (572
    )Net cash provided by financing activities
    
    
    419,291
    
    
    
    243,547Change in Cash and Cash Equivalents During the PeriodEffect of exchange rate changes on cash
    
    
    (2,197
    )
    
    
    (1,286
    )Net decrease in cash and cash equivalents
    
    
    (7,888
    )
    
    
    (25,321
    )Cash and cash equivalents, beginning of period
    
    
    281,554
    
    
    
    161,569Cash and cash equivalents, end of period
    
    $
    273,666
    
    
    $
    136,248
 Noncash investing and financing activities:
 (a)
    
    The cost basis of real estate investments acquired during the six months ended June 30,
2010 and 2009, including equity investments in real estate, also includes deferred
acquisition fees payable of $8.5 million and $3.3 million, respectively.  CPA ® :17  Global 6/30/2010 10-Q 6




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##### Table of Contents



CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
 Note 1. Organization and Offering
 Organization
   Public Offering
   Note 2. Basis of Presentation
    Basis of Consolidation
  CPA ® :17  Global 6/30/2010 10-Q 7




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##### Table of Contents



Notes to Consolidated Financial Statements
      CPA ® :17  Global 6/30/2010 10-Q 8




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##### Table of Contents



Notes to Consolidated Financial Statements
  June 30, 2010
    
    
    December 31, 2009Assets:Cash and cash equivalents not attributable to consolidated VIE
    
    $
    3,254
    
    
    $
    61Other assets, net not attributable to consolidated VIE
    
    
    2,081
    
    
    
    4,307Total assets not attributable to consolidated VIE
    
    $
    5,335
    
    
    $
    4,368Liabilities:Due to affiliates not attributable to consolidated VIE
    
    $
    1,335
    
    
    $
    170Distributions payable not attributable to consolidated VIE
    
    
    16,471
    
    
    
    11,675Total liabilities not attributable to consolidated VIE
    
    $
    17,806
    
    
    $
    11,845
  Acquisition Costs
  Information about International Geographic Areas
  Note 3. Agreements and Transactions with Related Parties
  Transaction Fees
  CPA ® :17  Global 6/30/2010 10-Q 9




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##### Table of Contents



Notes to Consolidated Financial Statements
   Asset Management Fee and Cash Distributions
   Organization and Offering Expenses
   CPA ® :17  Global 6/30/2010 10-Q 10




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##### Table of Contents



Notes to Consolidated Financial Statements
 Other Expenses
  Joint Ventures and Other Transactions with Affiliates
   Note 4. Net Investments in Properties and Operating Real Estate
 Net Investments in Properties
  June 30, 2010
    
    
    December 31, 2009Land
    
    $
    168,005
    
    
    $
    62,597Buildings
    
    
    389,200
    
    
    
    263,910Less: Accumulated depreciation
    
    
    (9,941
    )
    
    
    (5,957
    )$
    547,264
    
    
    $
    320,550
  Acquisitions of Real Estate
  
    
    five domestic investments totaling $136.6 million. We recorded an additional $22.6
million related to two of these investments as net investments in direct financing leases
(Note 5);
 
    
    one investment in Croatia for $101.5 million primarily denominated in Euro;
 
    
    two investments in Spain aggregating $76.8 million denominated in Euro and representing
follow-on transactions to an investment that we completed in the fourth quarter of 2009;
and
 
    
    one investment in the United Kingdom for $12.1 million denominated in British Pound
Sterling. We classified an additional portion of this investment as net investments in
direct financing leases (Note 5).
  CPA ® :17  Global 6/30/2010 10-Q 11




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##### Table of Contents



Notes to Consolidated Financial Statements
 Real Estate Under Construction
   Operating Real Estate, net
  Other
  Note 5. Net Investment in Direct Financing Leases
  ®
 Note 6. Equity Investments in Real Estate
  CPA ® :17  Global 6/30/2010 10-Q 12




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##### Table of Contents



Notes to Consolidated Financial Statements
  OwnershipInterest at
    
    
    Carrying Value atLessee
    
    June 30, 2010
    
    
    June 30, 2010
    
    
    December 31, 2009Berry Plastics Corporation (a)
    
    
    50
    %
    
    $
    20,887
    
    
    $
    21,414Tesco plc (b)
    
    
    49
    %
    
    
    18,538
    
    
    
    22,081Eroski Sociedad Cooperativa  Mallorca
(b) (c)
    
    
    30
    %
    
    
    10,130
    
    
    
    $
    49,555
    
    
    $
    43,495
 
 (a)
    
    The venture obtained non-recourse financing of $39.4 million for this investment in January
2008 with a variable annual interest rate capped at 10% through the use of an interest rate
cap and a term of three years, with two one-year extensions. In February 2009, this venture
repaid its $39.0 million outstanding balance at a discount for $32.5 million and recognized a
corresponding gain of $6.5 million. Our $3.2 million share of the gain was reduced by
$2.9 million as a result of an other-than-temporary impairment charge recognized to reduce the
carrying value of our investment to the estimated fair value of the ventures underlying
properties (Note 8). In February 2009, the venture also obtained new non-recourse mortgage
financing of $29 million with a variable interest rate. In June 2010, the venture refinanced
the existing loan with new fixed rate financing of $29 million.(b)
    
    The carrying value of this investment is affected by the impact of fluctuations in the
exchange rate of the Euro.(c)
    
    We acquired our interest in this investment in June 2010.  June 30, 2010
    
    
    December 31, 2009Assets
    
    $
    196,899
    
    
    $
    181,600Liabilities
    
    
    (76,513
    )
    
    
    (84,522
    )Partners/members equity
    
    $
    120,386
    
    
    $
    97,078
 Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Revenue
    
    $
    3,688
    
    
    $
    1,662
    
    
    $
    7,282
    
    
    $
    3,322Expenses
    
    
    (3,562
    )
    
    
    (1,085
    )
    
    
    (6,532
    )
    
    
    (2,699
    )Gain on extinguishment of debt
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    6,512Net income
    
    $
    126
    
    
    $
    577
    
    
    $
    750
    
    
    $
    7,135
  Note 7. Securities Held to Maturity
  CPA®:17  Global 6/30/2010 10-Q 13




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##### Table of Contents



Notes to Consolidated Financial Statements
   Description
    
    Face Value
    
    
    Amortized Cost
    
    
    Unrealized Gain
    
    
    Estimated Fair ValueCMBS
    
    $
    33,284
    
    
    $
    3,807
    
    
    $
    1,174
    
    
    $
    4,981
  Rating (a)
    
    Amortized CostB
    
    $
    1,747B+
    
    
    1,302BB-
    
    
    758$
    3,807
 
 (a)
    
    Ratings are those of Standard & Poors Ratings Services, a division of The McGraw-Hill
Companies, Inc. Note 8. Fair Value Measurements
  CPA®:17  Global 6/30/2010 10-Q 14




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##### Table of Contents



Notes to Consolidated Financial Statements
 Items Measured at Fair Value on a Recurring Basis
  Fair Value Measurements at June 30, 2010 Using:Quoted Prices inActive Markets for
    
    
    Significant Other
    
    
    UnobservableIdentical Assets
    
    
    Observable Inputs
    
    
    InputsDescription
    
    Total
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Assets:Money market funds
    
    $
    243,778
    
    
    $
    243,778
    
    
    $
    
    
    
    $
    Derivative assets
    
    
    853
    
    
    
    
    
    
    
    853
    
    
    
    $
    244,631
    
    
    $
    243,778
    
    
    $
    853
    
    
    $
    Liabilities:Derivative liabilities
    
    $
    (1,615
    )
    
    $
    
    
    
    $
    (1,615
    )
    
    $
    Fair Value Measurements at December 31, 2009 Using:Quoted Prices inActive Markets for
    
    
    Significant Other
    
    
    UnobservableIdentical Assets
    
    
    Observable Inputs
    
    
    InputsDescription
    
    Total
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Assets:Money market funds
    
    $
    278,566
    
    
    $
    278,566
    
    
    $
    
    
    
    $
    Derivative assets
    
    
    2,985
    
    
    
    
    
    
    
    2,985
    
    
    
    $
    281,551
    
    
    $
    278,566
    
    
    $
    2,985
    
    
    $
    Liabilities:Derivative liabilities
    
    $
    (20
    )
    
    $
    
    
    
    $
    (20
    )
    
    $
    
   June 30, 2010
    
    
    December 31, 2009Carrying Value
    
    
    Fair Value
    
    
    Carrying Value
    
    
    Fair ValueDebt
    
    $
    470,042
    
    
    $
    469,823
    
    
    $
    300,908
    
    
    $
    291,737CMBS (a)
    
    
    3,807
    
    
    
    4,981
    
    
    
    3,818
    
    
    
    3,818
 
 (a)
    
    Carrying value represents historical cost, inclusive of impairment charges recognized during
2009 (Note 7).  Items Measured at Fair Value on a Non-Recurring Basis
  CPA®:17  Global 6/30/2010 10-Q 15




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##### Table of Contents



Notes to Consolidated Financial Statements
  Note 9. Risk Management and Use of Derivative Financial Instruments
 Risk Management
  Commercial Mortgage-Backed Securities
  Foreign Currency Exchange
  Use of Derivative Financial Instruments
   CPA®:17  Global 6/30/2010 10-Q 16




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##### Table of Contents



Notes to Consolidated Financial Statements
  Asset Derivatives Fair Value atDerivatives Designated as Hedging Instruments
    
    Balance Sheet Location
    
    
    June 30, 2010
    
    
    December 31, 2009Interest rate cap
    
    Other assets
    
    $
    853
    
    
    $
    2,985Interest rate swap
    
    Other liabilities
    
    
    (1,615
    )
    
    
    (20
    )$
    (762
    )
    
    $
    2,965
   Amount of Loss Recognized
    
    
    Amount of Loss Recognizedin OCI on Derivatives
    
    
    in OCI on Derivatives(Effective Portion)
    
    
    (Effective Portion)Three months ended June 30,
    
    
    Six months ended June 30,Derivatives in Cash Flow Hedging Relationships
    
    2010
    
    
    2009
    
    
    2010
    
    
    2009Interest rate cap (a)
    
    $
    (968
    )
    
    $
    
    
    
    $
    (2,132
    )
    
    $
    Interest rate swap
    
    
    (1,287
    )
    
    
    
    
    
    
    (1,595
    )
    
    
    Total
    
    $
    (2,255
    )
    
    $
    
    
    
    $
    (3,727
    )
    
    $
    
 
 (a)
    
    Includes loss of $0.4 million and $1.0 million attributable to noncontrolling interests for
the three and six months ended June 30, 2010, respectively.   Interest Rate Swaps and Caps
  CPA®:17  Global 6/30/2010 10-Q 17




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##### Table of Contents



Notes to Consolidated Financial Statements
  Notional
    
    
    Effective
    
    
    Effective
    
    
    Expiration
    
    
    Fair Value atType
    
    
    Amount
    
    
    Interest Rate
    
    
    Date
    
    
    Date
    
    
    June 30, 20103-Month LIBOR
    
    Interest rate cap (a)
    
    $
    117,920
    
    
    
    8.8
    %
    
    
    8/2009
    
    
    
    8/2014
    
    
    $
    8533-Month LIBOR
    
    Pay-fixed swap
(b)
    
    
    
    26,828
    
    
    
    3.7
    %
    
    
    1/2010
    
    
    
    12/2019
    
    
    
    (1,615
    )$
    (762
    )
 
 (a)
    
    The applicable interest rate of the related debt was 5.0%, which was below the effective
interest rate of the cap at June 30, 2010. Inclusive of noncontrolling interests in the
notional amount and fair value of the swap of $53.1 million and $0.4 million, respectively.(b)
    
    We entered into this interest rate swap in December 2009.  Embedded Credit Derivative
  Other
   Portfolio Concentration Risk
  CPA®:17  Global 6/30/2010 10-Q 18




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##### Table of Contents



Notes to Consolidated Financial Statements
  Note 10. Debt
  
    
    $68.3 million relates to four domestic investments acquired during the first six months
of 2010;
 
    
    $52.4 million relates to a Croatian investment acquired in April 2010;
 
    
    $52.2 million relates to a transaction in Spain, with the first tranche completed in the
fourth quarter of 2009 and the second tranche completed during the first quarter of 2010
(Note 4); and
 
    
    $19.5 million relates to a domestic build-to-suit project that we placed into service in
January 2010 (Note 5).
    Total2010 (remainder)
    
    $
    3,8712011
    
    
    8,5042012
    
    
    9,2322013
    
    
    10,0872014
    
    
    116,603Thereafter through 2028
    
    
    321,745Total
    
    $
    470,042
  Note 11. Commitments and Contingencies
  Note 12. Income Taxes
  CPA®:17  Global 6/30/2010 10-Q 19




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##### Table of Contents



Notes to Consolidated Financial Statements
    Note 13. Pro Forma Financial Information
   Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Pro forma total revenues
    
    $
    25,855
    
    
    $
    27,224
    
    
    $
    52,225
    
    
    $
    55,136Pro forma net income
    
    $
    10,942
    
    
    $
    13,205
    
    
    $
    23,826
    
    
    $
    24,995Less: Net income attributable to noncontrolling interests
    
    
    (3,850
    )
    
    
    (3,169
    )
    
    
    (7,133
    )
    
    
    (5,938
    )Pro forma net income attributable to CPA®:17  Global
shareholders
    
    $
    7,092
    
    
    $
    10,036
    
    
    $
    16,693
    
    
    $
    19,057Pro forma earnings per share:Net income attributable to CPA®:17 - Global shareholders
    
    $
    0.06
    
    
    $
    0.09
    
    
    $
    0.15
    
    
    $
    0.17
  Note 14. Subsequent Event
  CPA®:17  Global 6/30/2010 10-Q 20




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##### Table of Contents



Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations
  Business Overview
  Financial Highlights
 Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Total revenues
    
    $
    23,564
    
    
    $
    13,584
    
    
    $
    41,860
    
    
    $
    22,293Net income attributable to
CPA®:17  Global shareholders
    
    
    6,655
    
    
    
    4,444
    
    
    
    12,778
    
    
    
    4,742Cash flow from operating activities
    
    
    
    
    
    
    
    
    
    
    34,072
    
    
    
    14,201Distributions paid
    
    
    13,945
    
    
    
    5,959
    
    
    
    25,620
    
    
    
    10,466Supplemental financial measures:Funds from operations  as adjusted (AFFO)
    
    $
    9,342
    
    
    $
    4,681
    
    
    $
    17,052
    
    
    $
    5,995Adjusted cash flow from operating activities
    
    
    
    
    
    
    
    
    
    
    21,385
    
    
    
    9,978
  ®
   CPA®:17  Global 6/30/2010 10-Q 21




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##### Table of Contents



Changes in Management
 ® ® ® ®
 ® ® ®
 ®
 Current Trends
 General Economic Environment
  Tenant Defaults
    Foreign Exchange Rates
  CPA®:17  Global 6/30/2010 10-Q 22




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##### Table of Contents



Capital Markets
  Investment Opportunities
    Financing Conditions
  Real Estate Sector
  Inflation
  Lease Expirations and Occupancy
   CPA®:17  Global 6/30/2010 10-Q 23




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##### Table of Contents



Fundraising
   Proposed Accounting Changes
  Results of Operations
     Six months ended June 30,2010
    
    
    2009Rental income
    
    $
    20,684
    
    
    $
    8,733Interest income from
direct financing leases
    
    
    19,601
    
    
    
    12,204$
    40,285
    
    
    $
    20,937
 CPA®:17  Global 6/30/2010 10-Q 24




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##### Table of Contents



Six months ended June 30,Lessee (Date Acquired or Placed in Service)
    
    2010
    
    
    2009The New York Times Company (3/2009) (a)
    
    $
    13,285
    
    
    $
    8,401LifeTime Fitness, Inc. (9/2008)
    
    
    3,407
    
    
    
    3,407Eroski Sociedad Cooperativa (12/2009, 2/2010, 6/2010) (b)
    
    
    3,229
    
    
    
    Frontier Spinning Mills, Inc. (12/2008) (a)
    
    
    2,235
    
    
    
    2,230US Oncology, Inc. (12/2009)
    
    
    2,094
    
    
    
    Actebis Peacock GmbH (7/2008) (a) (b)
    
    
    1,979
    
    
    
    1,981Kronos Products, Inc. (3/2010)
    
    
    1,922
    
    
    
    Agrokor d.d. (4/2010) (b)
    
    
    1,592
    
    
    
    Laureate Education, Inc. (7/2008)
    
    
    1,445
    
    
    
    1,445Mori Seiki USA, Inc. (12/2009)
    
    
    1,405
    
    
    
    Waldaschaff Automotive GmbH and Wagon Automotive Nagold GmbH (8/2008) (a) (b) (c)
    
    
    1,401
    
    
    
    2,067Angelica Corporation (3/2010)
    
    
    1,337
    
    
    
    Sabre Communications Corporation and Cellxion, LLC (8/2008, 6/2010)
    
    
    1,295
    
    
    
    1,290National Express Limited (12/2009) (b)
    
    
    948
    
    
    
    TDG Limited (4/2010, 5/2010) (b)
    
    
    655
    
    
    
    OBI Group Holding GmbH, OBI Holding GmbH and OBI AG (10/2009) (b)
    
    
    578
    
    
    
    Other
    
    
    1,478
    
    
    
    116$
    40,285
    
    
    $
    20,937
 
 (a)
    
    These revenues are generated in consolidated ventures with our affiliates and include
revenues applicable to noncontrolling interests totaling $7.9 million and $5.9 million for the
six months ended June 30, 2010 and 2009, respectively.(b)
    
    Amounts are subject to fluctuations in foreign currency exchange rates.(c)
    
    In connection with entering in Administration, Wagon Automotive GmbH terminated its lease
with us in May 2009 and a successor company, Waldaschaff Automotive GmbH, took over the
business and has been paying rent to us, albeit at a significantly reduced rate. In April
2010, Waldaschaff Automotive GmbH executed a temporary lease under which monthly rent is
unchanged but real estate expenses are now reimbursed by the tenant. In addition, in
October 2009, we terminated the existing lease with another tenant, Wagon Automotive Nagold
GmbH, and signed a new lease with this tenant on substantially the same terms.  OwnershipInterest at
    
    
    Six months ended June 30,Lessee
    
    June 30, 2010
    
    
    2010
    
    
    2009Tesco plc (a) (b)
    
    
    49
    %
    
    $
    3,620
    
    
    $
    Berry Plastics Corporation (a)
    
    
    50
    %
    
    
    3,412
    
    
    
    3,320Eroski Sociedad Cooperativa  Mallorca (a) (b)
    
    
    30
    %
    
    
    168
    
    
    
    $
    7,200
    
    
    $
    3,320
 
 (a)
    
    Amounts are subject to fluctuations in foreign currency exchange rates.(b)
    
    We acquired our interest in the Tesco venture in July 2009 and the Eroski venture in June
2010. CPA®:17  Global 6/30/2010 10-Q 25




---



##### Table of Contents



Lease Revenues
   Other Real Estate Operations
  Depreciation and Amortization
  General and Administrative
  Other Income and (Expenses)
    Interest Expense
  (Provision for) Benefit from Income Taxes
  CPA®:17  Global 6/30/2010 10-Q 26




---



##### Table of Contents



Net Income Attributable to CPA ® :17  Global Shareholders
 ®
 Funds from Operations  as Adjusted (AFFO)
 ®
 Financial Condition
 Sources and Uses of Cash During the Period
  Operating Activities
  Investing Activities
  Financing Activities
   CPA®:17  Global 6/30/2010 10-Q 27




---



##### Table of Contents



Adjusted Cash Flow from Operating Activities
  Summary of Financing
  June 30, 2010
    
    
    December 31, 2009BalanceFixed rate
    
    $
    325,294
    
    
    $
    154,754Variable rate (a)
    
    
    144,748
    
    
    
    146,154Total
    
    $
    470,042
    
    
    $
    300,908Percent of total debtFixed rate
    
    
    69
    %
    
    
    51
    %Variable rate (a)
    
    
    31
    %
    
    
    49
    %100
    %
    
    
    100
    %Weighted average interest rate at
end of periodFixed rate
    
    
    6.6
    %
    
    
    7.1
    %Variable rate (a)
    
    
    5.3
    %
    
    
    5.3
    %
 
 (a)
    
    Variable rate debt at June 30, 2010 consisted of (i) $26.8 million that has been effectively
converted to fixed rate debt through interest rate swap derivative instruments and (ii)
$117.9 million that is subject to an interest rate cap, but for which the applicable interest
rate was below the effective interest rate of the cap at June 30, 2010. Cash Resources
  CPA®:17  Global 6/30/2010 10-Q 28




---



##### Table of Contents



Cash Requirements
  Off-Balance Sheet Arrangements and Contractual Obligations
  Less than
    
    
    
    
    
    
    
    
    
    
    More thanTotal
    
    
    1 Year
    
    
    1-3 Years
    
    
    3-5 Years
    
    
    5 yearsNon-recourse and limited-recourse debt  principal (a)
    
    $
    471,111
    
    
    $
    8,582
    
    
    $
    18,723
    
    
    $
    125,987
    
    
    $
    317,819Deferred acquisition fees
    
    
    13,524
    
    
    
    7,180
    
    
    
    6,344
    
    
    
    
    
    
    
    Interest on borrowings and deferred acquisition fees
    
    
    212,429
    
    
    
    30,333
    
    
    
    57,073
    
    
    
    51,115
    
    
    
    73,908Build-to-suit commitment
    
    
    37,617
    
    
    
    37,617
    
    
    
    
    
    
    
    
    
    
    
    Hotel capital improvement commitment
    
    
    1,230
    
    
    
    1,230
    
    
    
    
    
    
    
    
    
    
    
    Operating and other lease commitments (b)
    
    
    1,372
    
    
    
    195
    
    
    
    400
    
    
    
    397
    
    
    
    380$
    737,283
    
    
    $
    85,137
    
    
    $
    82,540
    
    
    $
    177,499
    
    
    $
    392,107
 
 (a)
    
    Excludes debt discounts of $1.1 million.(b)
    
    Operating and other lease commitments consist of our share of future minimum rents payable
under an office cost-sharing agreement with certain affiliates for the purpose of leasing
office space used for the administration of real estate entities as well as future minimum
rents payable under a lease executed in June 2010 (denominated in British Pound Sterling) in
conjunction with our investment in the United Kingdom. Amounts under the cost-sharing
agreement are allocated among the entities based on gross revenues and are adjusted quarterly.
We anticipate that our share of future minimum lease payments will increase significantly as
we continue to invest the proceeds of our offering.   OwnershipInterest at
    
    
    
    
    
    
    Total ThirdLessee
    
    June 30, 2010
    
    
    Total Assets
    
    
    Party Debt
    
    
    Maturity DateTesco plc (a)
    
    
    49
    %
    
    $
    83,632
    
    
    $
    42,143
    
    
    
    6/2016Berry Plastics Corporation
    
    
    50
    %
    
    
    81,004
    
    
    
    29,000
    
    
    
    3/2012Eroski Sociedad Cooperativa  Mallorca (a)
    
    
    30
    %
    
    
    32,263
    
    
    
    
    
    
    
    N/A$
    196,899
    
    
    $
    71,143
 
 (a)
    
    Dollar amounts shown are based on the exchange rate of the Euro at June 30, 2010. CPA®:17  Global 6/30/2010 10-Q 29




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##### Table of Contents



Subsequent Event
  Supplemental Financial Measures
  Funds from Operations  as Adjusted
   CPA®:17  Global 6/30/2010 10-Q 30




---



##### Table of Contents



Three months ended June 30,
    
    
    Six months ended June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net income attributable to CPA®:17 - Global shareholders
    
    $
    6,655
    
    
    $
    4,444
    
    
    $
    12,778
    
    
    $
    4,742Adjustments:Depreciation and amortization of real property
    
    
    3,333
    
    
    
    1,178
    
    
    
    5,588
    
    
    
    2,261Proportionate share of adjustments to equity in net income
of partially owned entities to arrive at FFO:Depreciation and amortization of real property
    
    
    716
    
    
    
    352
    
    
    
    1,415
    
    
    
    703Proportionate share of adjustments for noncontrolling
interests to arrive at FFO
    
    
    (277
    )
    
    
    (139
    )
    
    
    (559
    )
    
    
    (245
    )Total adjustments
    
    
    3,772
    
    
    
    1,391
    
    
    
    6,444
    
    
    
    2,719FFO  as defined by NAREIT
    
    
    10,427
    
    
    
    5,835
    
    
    
    19,222
    
    
    
    7,461Adjustments:Other depreciation, amortization and non-cash charges
    
    
    25
    
    
    
    (477
    )
    
    
    90
    
    
    
    (321
    )Straight-line and other rent adjustments
    
    
    (1,263
    )
    
    
    (906
    )
    
    
    (2,624
    )
    
    
    (1,426
    )Proportionate share of adjustments to equity in net income
of partially owned entities to arrive at AFFO:Straight-line and other rent adjustments
    
    
    (70
    )
    
    
    
    
    
    
    (132
    )Proportionate share of adjustments for noncontrolling
interests to arrive at AFFO
    
    
    223
    
    
    
    229
    
    
    
    496
    
    
    
    281Total adjustments
    
    
    (1,085
    )
    
    
    (1,154
    )
    
    
    (2,170
    )
    
    
    (1,466
    )AFFO
    
    $
    9,342
    
    
    $
    4,681
    
    
    $
    17,052
    
    
    $
    5,995
  Adjusted Cash Flow from Operating Activities
   CPA®:17  Global 6/30/2010 10-Q 31




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##### Table of Contents



Six months ended June 30,2010
    
    
    2009Cash flow provided by operating activities
    
    $
    34,072
    
    
    $
    14,201Adjustments:Distributions received from equity investments in
real estate in excess of
equity income, net
    
    
    2,172
    
    
    
    Distributions paid to noncontrolling interests, net
    
    
    (5,669
    )
    
    
    (4,223
    )Changes in working capital
    
    
    (9,190
    )
    
    
    Adjusted cash flow from operating activities
    
    $
    21,385
    
    
    $
    9,978Distributions declared
    
    $
    30,304
    
    
    $
    13,374
  CPA®:17  Global 6/30/2010 10-Q 32




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##### Table of Contents



Item 3.
    
    Quantitative and Qualitative Disclosures About Market Risk
 Market Risk
   Interest Rate Risk
      CPA®:17  Global 6/30/2010 10-Q 33




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##### Table of Contents



2010
    
    
    2011
    
    
    2012
    
    
    2013
    
    
    2014
    
    
    Thereafter
    
    
    Total
    
    
    Fair valueFixed rate debt
    
    $
    2,449
    
    
    $
    5,562
    
    
    $
    6,154
    
    
    $
    6,864
    
    
    $
    7,485
    
    
    $
    296,780
    
    
    $
    325,294
    
    
    $
    325,075Variable rate debt
    
    $
    1,422
    
    
    $
    2,942
    
    
    $
    3,079
    
    
    $
    3,223
    
    
    $
    109,118
    
    
    $
    24,964
    
    
    $
    144,748
    
    
    $
    144,748
  Foreign Currency Exchange Rate Risk
   
 Item 4.
    
    Controls and Procedures
 Disclosure Controls and Procedures
   Changes in Internal Control over Financial Reporting
  CPA®:17  Global 6/30/2010 10-Q 34




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##### Table of Contents



PART II
 
 Item 2.
    
    Unregistered Sales of Equity Securities and Use of Proceeds
   Shares registered
    
    
    200,000,000Aggregate price of offering amount registered
    
    $
    2,000,000Shares sold (a)
    
    
    106,999,321Aggregated offering price of amount sold
    
    $
    1,068,616Direct or indirect payments to directors, officers, general partners of the issuer or their associates;
to persons owning ten percent or more of any class of equity securities of the issuer; and to
affiliates of the issuer
    
    
    (106,865
    )Direct or indirect payments to others
    
    
    (9,128
    )Net offering proceeds to the issuer after deducting expenses
    
    
    952,623Purchases of real estate related assets
    
    
    (549,106
    )Temporary investments in cash and cash equivalents
    
    $
    403,517
 
 (a)
    
    Excludes shares issued to affiliates, including our advisor, and shares issued pursuant to
our distribution reinvestment and stock purchase plan. Issuer Purchases of Equity Securities
  Maximum number (orTotal number of shares
    
    
    approximate dollar value)purchased as part of
    
    
    of shares that may yet beTotal number of
    
    
    Average price
    
    
    publicly announced
    
    
    purchased under the2010 Period
    
    shares purchased (a)
    
    
    paid per share
    
    
    plans or programs (a)
    
    
    plans or programs (a)April
    
    
    
    
    
    
    
    
    
    
    N/A
    
    
    
    N/AMay
    
    
    
    
    
    
    
    
    
    
    N/A
    
    
    
    N/AJune
    
    
    153,519
    
    
    $
    9.30
    
    
    
    N/A
    
    
    
    N/ATotal
    
    
    153,519
 
 (a)
    
    Represents shares of our common stock purchased under our redemption plan, pursuant to which
we may elect to redeem shares at the request of our shareholders who have held their shares
for at least one year from the date of their issuance, subject to certain conditions and
limitations. The maximum amount of shares purchasable by us in any period depends on a number
of factors and is at the discretion of our board of directors. The redemption plan will
terminate if and when our shares are listed on a national securities market. CPA®:17  Global 6/30/2010 10-Q 35




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##### Table of Contents



Item 6.
    
    Exhibits
 Exhibit No.
    
    Description
    
    Method of Filing31.1
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith31.2
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith32
    
    
    Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith
 CPA®:17  Global 6/30/2010 10-Q 36




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##### Table of Contents



SIGNATURES
  Corporate Property Associates 17  Global IncorporatedDate 8/13/2010
    By:
    /s/ Mark J. DeCesarisMark J. DeCesarisManaging Director and Chief Financial Officer

(Principal Financial Officer)Date 8/13/2010
    By:
    /s/ Thomas J. Ridings, Jr.Thomas J. Ridings, Jr.Executive Director and Chief Accounting Officer

(Principal Accounting Officer) CPA®:17  Global 6/30/2010 10-Q 37




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##### Table of Contents



EXHIBIT INDEX
 Exhibit No.
    
    Description
    
    Method of Filing31.1
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith31.2
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith32
    
    
    Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith
 CPA®:17  Global 6/30/2010 10-Q 38