Exhibit 99.1

Corporate Property Associates 15 Incorporated
Supplemental Information

As of September 30, 2009

Forward-Looking Statements

This supplemental information may contain forward-looking statements within the meaning of the Federal securities laws. It is important to note that our actual results could be materially different from those projected in such forward-looking statements. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties and other factors that may materially affect our future results, performance, achievements or transactions. Information on factors which could impact actual results and forward-looking statements contained herein is included in our filings with the SEC, including but not limited to our Form 10-K for the year ended December 31, 2008. We do not undertake to revise or update any forward-looking statements.

Executive Offices		Investor Relations
50 Rockefeller Plaza		Susan C. Hyde
New York, NY 10020		Managing Director & Director of Investor Relations
Tel: 1-800-WPCAREY or (212) 492-1100		W. P. Carey & Co. LLC
Fax: (212) 492-8922		Phone: (212) 492-1151
Web Site Address: www.CPA15.com

Corporate Property Associates 15 Incorporated

Reconciliation of Net Income (Loss) to Funds From Operations - as adjusted (AFFO) (Unaudited)
(in thousands, except share and per share amounts)

		Three months ended September 30,								Nine months ended September 30,
		2009				2008				2009				2008
Net income (loss) attributable to CPA®:15 shareholders		$	2,055			$	1,195			$	(6,699	)		$	40,982	(a)
Depreciation, amortization, and other non-cash charges			17,015				16,863				46,317				49,950
Straight-line and other rent adjustments			(1,143	)			904				407				3,816
Gain on sale of real estate			(8,985	)			—				(9,836	)			(90	)
Impairment charges			13,766				17,233				47,216				17,233
AFFO adjustment to earnings from equity investments			18,538				4,282				23,339				8,412
AFFO adjustment to share of earnings of noncontrolling interests			(5,883	)			(9,424	)			(12,420	)			(18,794	)
AFFO		$	35,363			$	31,053			$	88,324			$	101,509
AFFO per share (b)		$	0.31			$	0.27			$	0.77			$	0.88
Weighted average shares outstanding			125,008,341				128,627,044				125,900,460				128,832,916
(a)   Net income for the nine months ended September 30, 2008 included the recognition of $9.1 million received from our advisor (a subsidiary of W. P. Carey & Co. LLC) in connection with the settlement of an SEC investigation.
(b)   AFFO per share calculation:
AFFO		$	35,363			$	31,053			$	88,324			$	101,509
Add: Issuance of shares to an affiliate in satisfaction of fees due			2,841				3,989				8,659				11,919
AFFO numerator in determination of AFFO per share		$	38,204			$	35,042			$	96,983			$	113,428
Weighted average shares outstanding including dilutive effect of shares issued in satisfaction of fees due			125,008,341				128,627,044				125,900,460				128,832,916

Non-GAAP Financial Disclosure

Funds from operations (FFO) is a non-GAAP financial measure that is commonly used by investors and analysts in evaluating real estate companies. Although the National Association of Real Estate Investment Trusts (NAREIT) has published a definition of FFO, real estate companies often modify this definition as they seek to provide financial measures that meaningfully reflect their operations. FFO should not be considered as an alternative to net income as an indication of a company’s operating performance or to cash flow from operating activities as a measure of its liquidity. It should be used in conjunction with GAAP net income. FFO disclosed by other REITs may not be comparable to our AFFO calculation.

NAREIT’s definition of FFO adjusts GAAP net income to exclude depreciation and gains/losses from the sales of properties and adjusts for FFO applicable to unconsolidated partnerships and joint ventures. We calculate AFFO in accordance with this definition and then include other adjustments to GAAP net income to adjust for certain non-cash charges such as amortization of intangibles, straight-line rents, impairment charges on real estate and unrealized foreign currency exchange gains and losses. We exclude these items from GAAP net income as they are not the primary drivers in our decision making process. Our assessment of our operations is focused on long-term sustainability and not on such non-cash items, which may cause short-term fluctuations in net income but that have no impact on cash flows and we therefore use AFFO as one measure of our operating performance when we formulate corporate goals and evaluate the effectiveness of our strategies. As a result, we believe that AFFO is a useful supplemental measure for investors to consider because it will help them to better understand and measure the performance of our business over time without the potentially distorting impact of these short-term fluctuations.

Corporate Property Associates 15 Incorporated

Adjusted Cash Flow from Operating Activities (Unaudited)
(in thousands, except share and per share amounts)

		Nine months ended September 30,
		2009				2008
Cash flow from operating activities — as reported		$	113,044			$	146,701
Adjustments:
Distributions received from equity investments in real estate in excess of equity income, net (a)			5,790				3,397
Distributions paid to noncontrolling interests, net (b)			(26,683	)			(27,962	)
Changes in working capital (c)			(1,768	)			(7,101	)
Advisor settlement (d)			—				(9,111	)
Adjusted cash flow from operating activities (e)		$	90,383			$	105,924
Adjusted cash flow per share		$	0.72			$	0.82
Distributions declared per share		$	0.5347			$	0.5159
Payout ratio (distributions per share/adjusted cash flow per share)			74	%			63	%
Weighted average shares outstanding			125,900,460				128,832,916

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities refers to our cash provided by operating activities, as determined in accordance with GAAP, adjusted primarily to reflect timing differences between the period an expense is incurred and paid, to add cash distributions that we receive from our investments in unconsolidated real estate joint ventures in excess of our equity investment in the joint ventures, and to subtract cash distributions that we make to our noncontrolling partners in real estate joint ventures that we consolidate. We hold a number of interests in real estate joint ventures, and we believe that adjusting our GAAP cash provided by operating activities to reflect these actual cash receipts and cash payments may give investors a more accurate picture of our actual cash flow than GAAP cash provided by operating activities alone and that it is a useful supplemental measure for investors to consider. We also believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations, and we use this measure when evaluating distributions to shareholders. Adjusted cash flow from operating activities should not be considered as an alternative for cash provided by operating activities computed on a GAAP basis as a measure of our liquidity. Adjusted cash flow from operating activities may not be comparable to similarly titled measures of other companies.

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2009 (Unaudited)
(in thousands)

Top Ten Tenants by Rent (Pro Rata Basis)

Tenant/Lease Guarantor		Annualized Rent				Percent
Hellweg Die Profi-Baumärkte GmbH & Co KG (a)		$	27,248				11	%
U-Haul Moving Partners, Inc. and Mercury Partners, L.P.			18,763				8	%
OBI A.G. (a)			12,893				5	%
Carrefour France, SAS (a)			9,889				4	%
Universal Technical Institute Holdings, Inc.			9,511				4	%
LifeTime Fitness, Inc.			8,759				4	%
Marriott International, Inc.			8,406				3	%
True Value Company			6,691				3	%
Foster Wheeler, Inc.			6,227				3	%
Pohjola Non-Life Insurance Company (a)			5,782				2	%
Total		$	114,169				47	%

Weighted Average Lease Term for Portfolio: 11.8 years

CPA^®:15 Historical Occupancy

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2009 (Unaudited)
by Geography and Property Type (Pro Rata Basis)
(in thousands)

Region		Annualized Rent				Percent
U.S.
West		$	44,799				18	%
South			44,523				18	%
East			38,688				16	%
Midwest			37,404				15	%
U.S. Total			165,414				67	%
International
Germany			33,235				13	%
France			20,849				8	%
Poland			12,893				5	%
Finland			11,241				5	%
United Kingdom			2,000				1	%
Belgium			1,641				1	%
International Total			81,859				33	%
Total		$	247,273				100	%

Property Type		Annualized Rent				Percent
Office		$	54,695				22	%
Industrial			52,612				21	%
Retail			49,743				20	%
Warehouse/Distribution			34,591				14	%
Self-Storage			18,763				8	%
Other Properties (a)			16,464				7	%
Sports			11,999				5	%
Hospitality			8,406				3	%
Total		$	247,273				100	%

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2009 (Unaudited)
by Tenant Industry (Pro Rata Basis)
(in thousands)

Industry Type (a)		Annualized Rent				Percent
Retail Trade		$	64,942				26	%
Electronics			27,465				11	%
Healthcare, Education and Childcare			20,423				8	%
Business and Commercial Services			14,011				6	%
Leisure, Amusement, Entertainment			13,499				6	%
Chemicals, Plastics, Rubber, and Glass			12,186				5	%
Buildings and Real Estate			12,181				5	%
Automobile			9,974				4	%
Hotels and Gaming			8,406				3	%
Construction and Building			7,315				3	%
Transportation — Personal			6,582				3	%
Federal, State and Local Government			6,067				2	%
Media: Printing and Publishing			5,981				2	%
Insurance			5,782				2	%
Beverages, Food, and Tobacco			5,634				2	%
Telecommunications			5,512				2	%
Consumer and Durable Goods			4,704				2	%
Aerospace and Defense			4,574				2	%
Machinery			3,897				2	%
Transportation — Cargo			2,051				1	%
Other (b)			6,087				3	%
Total		$	247,273				100	%