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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 September 30, 2007
 or
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    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
 (Exact name of registrant as specified in its charter)
 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  (Registrants telephone numbers, including area code)
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INDEX
 Page No.PART I  FINANCIAL INFORMATIONItem 1.  Financial Statements*Balance Sheets as of September 30, 2007 and February 20, 2007
    
    
    2Statements of Operations for the three months ended September 30, 2007 and the period from
inception (February 20, 2007) through September 30, 2007
    
    
    3Statement of Cash Flows for the period from inception (February 20, 2007) through September 30, 2007
    
    
    4Notes to Financial Statements
    
    
    5Item 2.  Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    10Item 3.  Quantitative and Qualitative Disclosures About Market Risk
    
    
    11Item 4T.  Controls and Procedures
    
    
    11PART II  OTHER INFORMATIONItem 2.  Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    11Item 6.  Exhibits
    
    
    11Signatures
    
    
    12EX-3.1: ARTICLES OF AMENDMENT AND RESTATEMENTEX-3.2: BYLAWSEX-4.1: DISTRIBUTION REINVESTMENT AND STOCK PURCHASE PLANEX-10.1: ADVISORY AGREEMENTEX-10.2: AGREEMENT OF LIMITED PARTNERSHIPEX-10.3: SALES AGENCY AGREEMENTEX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32: CERTIFICATIONS
  
 *
    
    The summarized financial statements contained herein are unaudited; however, in the opinion
of management, all adjustments (consisting of normal recurring adjustments) necessary for a
fair statement of such financial statements have been included. Forward Looking Statements
   CPA®:17  Global 9/30/2007 10-Q 1




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CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 PART I
 
 ITEM 1.  FINANCIAL STATEMENTS
 
 BALANCE SHEETS (UNAUDITED)
 September 30, 2007
    
    
    February 20, 2007(NOTE)AssetsCash and cash equivalents
    
    $
    200,000
    
    
    $
    200,000Deferred offering costs
    
    
    1,557,513
    
    
    
    Total assets
    
    $
    1,757,513
    
    
    $
    200,000LiabilitiesDue to affiliates
    
    $
    1,597,797
    
    
    $
    Commitments and contingencies (Note 4)Stockholders EquityCommon stock, $0.001 par value;
authorized 25,000 shares; issued and
outstanding, 22,222 shares
    
    
    22
    
    
    
    22Additional paid-in capital
    
    
    199,978
    
    
    
    199,978Accumulated deficit
    
    
    (40,284
    )
    
    
    Total stockholders equity
    
    
    159,716
    
    
    
    200,000Total liabilities and stockholders equity
    
    $
    1,757,513
    
    
    $
    200,000
 
   CPA®:17  Global 9/30/2007 10-Q 2




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CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 STATEMENTS OF OPERATIONS (UNAUDITED)
  Period from InceptionThree Months Ended
    
    
    (February 20, 2007) toSeptember 30, 2007
    
    
    September 30, 2007ExpensesGeneral and administrative
    
    $
    
    
    
    $
    (40,284
    )Net Loss
    
    $
    
    
    
    $
    (40,284
    )Loss Per Share
    
    $
    
    
    
    $
    (1.81
    )Weighted Average Shares Outstanding
    
    
    22,222
    
    
    
    22,222
  CPA®:17  Global 9/30/2007 10-Q 3




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CORPORATE PROPERTY ASSOCIATES 17  GLOBAL INCORPORATED
 
 STATEMENT OF CASH FLOWS (UNAUDITED)
  Cash Flows  Operating ActivitiesNet loss
    
    $
    (40,284
    )Adjustments to reconcile net loss to net cash provided by operating activities:Noncash expenses  offering costs
    
    
    40,284Net cash provided by operating activities
    
    
    Cash Flows  Financing ActivitiesProceeds from stock issuance
    
    
    200,000Net cash provided by financing activities
    
    
    200,000Net increase in cash and cash equivalents:
    
    
    200,000Cash and cash equivalents, beginning of period
    
    
    Cash and cash equivalents, end of period
    
    $
    200,000Noncash investing and financing activities:(a) Offering costs deferred to date total $1,557,513.(b) Amounts due to affiliate for offering and organization costs total $1,597,797 to date.
  CPA®:17  Global 9/30/2007 10-Q 4




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NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
 Note 1. Organization and Offering
 Organization
   Public Offering
    Note 2. Summary of Significant Accounting Policies
 Use of Estimates
  Basis of Consolidation
   Cash and Cash Equivalents and Short-Term Investments
  CPA®:17  Global 9/30/2007 10-Q 5




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Notes to Financial Statements
  Purchase Price Allocation
      Depreciation
  Federal Income Taxes
  Organization and Offering Costs
  CPA®:17  Global 9/30/2007 10-Q 6




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Notes to Financial Statements
  Earnings (Loss) Per Share
  Recent Accounting Pronouncements
 SOP 07-1
  FIN 46(R)-7
  Note 3. Agreements and Transactions with Related Parties
   Note 4. Commitments and Contingencies
   CPA®:17  Global 9/30/2007 10-Q 7




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Notes to Financial Statements
  ®
 ® ®
 ® ® ® ® ®
 ® ® ® ® ®
    CPA®:17  Global 9/30/2007 10-Q 8




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Notes to Financial Statements
  Note 5. Subsequent Events
   CPA®:17  Global 9/30/2007 10-Q 9




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ITEM 2.  MANAGEMENTS DISCUSSION AND ANALYSIS OF
 FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  Business Overview
   Significant Developments
 Public Offering
   Distribution
 Results of Operations
  Financial Condition
   CPA®:17  Global 9/30/2007 10-Q 10




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ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  
 Item 4T.  Controls and Procedures
 Disclosure Controls and Procedures
   Changes in Internal Control over Financial Reporting
  
 PART II
 
 Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds
   
 Item 6.  Exhibits
 Exhibit No.
    
    
    Description
    
    Method of Filing3.1
    
    
    
    Articles of Amendment and Restatement of Corporate Property Associates 17  Global Incorporated
    
    Filed herewith3.2
    
    
    
    Bylaws of Corporate Property Associates 17  Global Incorporated
    
    Filed herewith4.1
    
    
    
    Distribution Reinvestment and Stock Purchase Plan
    
    Filed herewith10.1
    
    
    
    Advisory Agreement dated November 12, 2007 between Corporate Property Associates 17  Global
Incorporated and Carey Asset Management Corp.
    
    Filed herewith10.2
    
    
    
    Agreement of Limited Partnership of CPA:17 Limited Partnership
    
    Filed herewith10.3
    
    
    
    Sales Agency Agreement dated November 30, 2007 between Corporate Property Associates 17  Global
Incorporated and Carey Financial, LLC
    
    Filed herewith31.1
    
    
    
    Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith31.2
    
    
    
    Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith32
    
    
    
    Certifications of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
    
    Filed herewith
 CPA®:17  Global 9/30/2007 10-Q 11




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SIGNATURES
  Corporate Property Associates 17  Global IncorporatedDate 12/14/2007
    By:
    /s/ Mark J. DeCesarisMark J. DeCesarisManaging Director and acting Chief Financial Officer
(acting Principal Financial Officer)Date 12/14/2007
    By:
    /s/ Thomas RidingsThomas RidingsExecutive Director and Chief Accounting Officer
(Principal Accounting Officer) CPA®:17  Global 9/30/2007 10-Q 12