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For Release Tuesday, May 11th, 2010 NEW YORK – Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that it has completed the acquisition of a 106-suite select service hotel located in Hillsboro, Oregon, 15 miles west of downtown Portland. The acquisition was made by a joint venture among CPA®:17 – Global, one of its publicly held non-traded REIT affiliates, Watermark Capital Partners, LLC, and Montclair Hotel Investors. Montclair, a hotel investment and management company, will serve as operator of the all suite property, which will be operated under the SpringHill Suites® by Marriott® flag. Jason Fox, Managing Director at W. P. Carey, said, “With its prime location, adjacent amenities and the appeal of the SpringHill Suites brand along with its Marriott affiliation, we believe this property is well positioned in the Hillsboro and greater Portland market. This transaction is another example of our ability to pursue unique real estate opportunities that are outside of our traditional net lease business and affords us another opportunity to work with Watermark Capital Partners.” Michael G. Medzigian, Chairman of Watermark Capital Partners, LLC, added, “The location and suite offering of the hotel positions it favorably with respect to competitive properties in the area. Working with W. P. Carey and Montclair, we were able to structure a transaction that we believe works well from both an operational and financial standpoint. In addition, we are pleased to continue the expansion of our relationship with W. P. Carey.”

W. P. Carey & Co. LLC

W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio approaching $10 billion. Through its CPA® series of income-generating, non-traded REITs, W. P. Carey helps companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, comprising contractual agreements with approximately 275 long-term corporate obligors spanning 28 industries and 16 countries.

Watermark Capital Partners, LLC

Watermark Capital Partners, LLC is a Lake Forest, Illinois based private investment firm that specializes in real estate private equity transactions. Watermark is led by Michael G. Medzigian who has been responsible for over $13 billion of real estate investments and has an exceptional track record of integrity and for sourcing proprietary opportunities, creatively enhancing value and delivering superior risk-adjusted returns to his investors. Watermark’s primary investment focus is on assets that benefit from specialized marketing strategies and demographic shifts including hotels and resorts, golf and recreation, resort residential, fractional and club programs, and mixed-use projects.

Montclair Hotel Investors, Inc.

Montclair Hotel Investors, Inc. is a Chicago-based hotel investment and management company who’s managing partners, Peter Cyrus and Dennis Langley, have managed hotel portfolios with values in excess of $3 billion. The managing partners have been involved with the property management and ownership of numerous prominent resort and hotel investments, including the Boca Raton Resort & Club, Arizona Biltmore, Hilton Indian Lakes Resort, Eaglewood Resort, RockResorts, Four Seasons Las Colinas (Dallas, TX), Lansdowne Conference Center Resort (Washington, DC), and Hyatt Grand Champions Resort (Palm Desert, CA). Additionally, the managing partners have been involved in the ownership and management of mid-market properties, including a portfolio of 24 Holiday Inns. This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company’s actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company’s filings with the Securities and Exchange Commission

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