Exhibit 99.1

Corporate Property Associates 15 Incorporated
Supplemental Information

As of December 31, 2010

As used in this supplemental package, the terms “the Company,” “we,” “us” and “our” include Corporate Property Associates 15 Incorporated (“CPA^®:15”), its consolidated subsidiaries and predecessors, unless otherwise indicated.

Important Note Regarding Non-GAAP Financial Measures

This supplemental package includes non-GAAP measures, including funds from operations (“FFO”), funds from operations — as adjusted (“AFFO”) and adjusted cash flow from operating activities. A description of these non-GAAP measures and reconciliations to the most directly comparable GAAP measures are provided in this supplemental package.

Forward-Looking Statements

This supplemental package contains 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 Annual Report on Form 10-K for the year ended December 31, 2010. 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) Attributable to CPA^®:15 Shareholders to Funds From Operations — as adjusted (AFFO) (Unaudited)
(in thousands, except share and per share amounts)

		Three months ended December 31,												Years ended December 31,
		2010				2009				2008				2010				2009				2008
Net income (loss) attributable to CPA®:15 shareholders		$	20,806			$	6,451			$	(12,288	)		$	59,777			$	(248	)		$	28,694	(a)
Adjustments:
Depreciation and amortization of real property			14,257				17,164				15,783				59,179				63,285				64,724
Gain on sale of real estate			(33,164	)			(1,496	)			(628	)			(33,001	)			(11,332	)			(718	)
Proportionate share of adjustments to equity in net income of partially owned entities to arrive at FFO:
Depreciation and amortization of real property			2,019				1,903				2,028				8,360				8,109				8,393
Loss (gain) on sale of real estate			41				—				—				(196	)			(3	)			—
Proportionate share of adjustments for noncontrolling interests to arrive at FFO			13,542				(4,247	)			(4,415	)			2,208				(12,983	)			(18,603	)
Total adjustments			(3,305	)			13,324				12,768				36,550				47,076				53,796
FFO — as defined by NAREIT			17,501				19,775				480				96,327				46,828				82,490
Adjustments:
Gain on deconsolidation of subsidiary			—				—				—				(11,493	)			—				—
(Gain) loss on extinguishment of debt			—				(1,534	)			—				—				500				—
Other depreciation, amortization and non-cash charges			(1,026	)			387				4,427				(708	)			(1,451	)			5,436
Straight-line and other rent adjustments			615				(1,011	)			2,001				1,133				(604	)			5,817
Impairment charges			14,796				9,129				23,508				18,176				56,345				40,741
Proportionate share of adjustments to equity in net income of partially owned entities to arrive at AFFO:
Other depreciation, amortization and non-cash charges			64				363				117				329				441				1,331
Straight-line and other rent adjustments			(522	)			155				130				18				771				563
Impairment charges			471				3,702				910				9,621				10,284				1,310
Proportionate share of adjustments for noncontrolling interests to arrive at AFFO			(5,302	)			118				(2,790	)			(5,374	)			(3,970	)			(7,396	)
Total adjustments			9,096				11,309				28,303				11,702				62,316				47,802
AFFO (b)		$	26,597			$	31,084			$	28,783			$	108,029			$	109,144			$	130,292
AFFO per share (c)		$	0.23			$	0.27			$	0.26			$	0.94			$	0.96			$	1.14
Weighted average shares outstanding			128,313,187				125,639,190				127,858,792				127,312,274				125,834,605				128,588,054

AFFO		$	26,597			$	31,084			$	28,783			$	108,029			$	109,144			$	130,292
Add: Issuance of shares to an affiliate in satisfaction of fees due			2,766				2,833				3,996				11,066				11,492				15,915
AFFO numerator in determination of AFFO per share		$	29,363			$	33,917			$	32,779			$	119,095			$	120,636			$	146,207

Non-GAAP Financial Disclosure

Funds from Operations (“FFO”) is a non-GAAP measure defined by the National Association of Real Estate Investment Trusts (“NAREIT”). NAREIT defines FFO as net income or loss (as computed in accordance with GAAP) excluding: depreciation and amortization expense from real estate assets, gains or losses from sales of depreciated real estate assets and extraordinary items; however, FFO related to assets held for sale, sold or otherwise transferred and included in the results of discontinued operations are to be included. These adjustments also incorporate the pro rata share of unconsolidated subsidiaries. FFO is used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers. Although NAREIT has published this definition of FFO, real estate companies often modify this definition as they seek to provide financial measures that meaningfully reflect their distinctive operations.

We modify the NAREIT computation of FFO to include other adjustments to GAAP net income for certain non-cash charges, where applicable, such as gains or losses from extinguishment of debt and deconsolidation of subsidiaries, amortization of intangibles, straight-line rents, impairment charges on real estate and unrealized foreign currency exchange gains and losses. We refer to our modified definition of FFO as “Funds from Operations — as Adjusted,” or AFFO, and we employ it as one measure of our operating performance when we formulate corporate goals and evaluate the effectiveness of our strategies. 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 have no impact on cash flows. As a result, we believe that AFFO and AFFO per share are useful supplemental measures 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)

		Years ended December 31,
		2010				2009				2008
Cash flow provided by operating activities — as reported		$	166,940			$	160,033			$	180,789
Adjustments:
Distributions received from equity investments in real estate in excess of equity income, net (a)			5,318				7,414				4,320
Distributions paid to noncontrolling interests, net (b)			(32,424	)			(35,911	)			(50,033	)
Changes in working capital (c)			(3,724	)			4,653				1,703
Advisor settlement (d)			—				—				(9,111	)
Adjusted cash flow from operating activities (e) (f)		$	136,110			$	136,189			$	127,668
Adjusted cash flow per share		$	1.07			$	1.08			$	0.99
Distributions declared per share		$	0.7246			$	0.7151			$	0.6902
Payout ratio (distributions per share/adjusted cash flow per share)			68	%			66	%			70	%
Weighted average shares outstanding			127,312,274				125,834,605				128,588,054

Non-GAAP Financial Disclosure

Adjusted cash flow from operating activities refers to our cash flow from operating activities (as computed in accordance with GAAP) adjusted, where applicable, primarily to: add cash distributions that we receive from our investments in unconsolidated real estate joint ventures in excess of our equity income; subtract cash distributions that we make to our noncontrolling partners in real estate joint ventures that we consolidate; and eliminate changes in working capital. We hold a number of interests in real estate joint ventures, and we believe that adjusting our GAAP cash flow provided by operating activities to reflect these actual cash receipts and cash payments, as well as eliminating the effect of timing differences between the payment of certain liabilities and the receipt of certain receivables in a period other than that in which the item is recognized may give investors additional information about our actual cash flow that is not incorporated in cash flow from operating activities as defined by GAAP.

We believe that adjusted cash flow from operating activities is a useful supplemental measure for assessing the cash flow generated from our core operations as it gives investors important information about our liquidity that is not provided within cash flow from operating activities as defined by GAAP, and we use this measure when evaluating distributions to shareholders.

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of December 31, 2010 (Unaudited)
Top Ten Tenants by Rent (Pro Rata Basis)
(in thousands)

		Annualized Contractual
Tenant/Lease Guarantor		Minimum Base Rent				Percent
Hellweg Die Profi-Baumärkte GmbH & Co KG (a)		$	24,806				10	%
U-Haul Moving Partners, Inc. and Mercury Partners, L.P.			18,742				8	%
OBI A.G. (a)			11,862				5	%
Universal Technical Institute Holdings, Inc.			9,954				4	%
Carrefour France SAS (a)			8,831				4	%
Life Time Fitness, Inc.			8,759				4	%
Marriott Corporation			8,406				4	%
True Value Company			6,825				3	%
Foster Wheeler			6,227				3	%
Pohjola Non-Life Insurance Company LTD (a)			5,170				2	%
Total		$	109,582				47	%
Weighted Average Lease Term for Portfolio:		10.8 years

(a)

Rent amounts are subject to fluctuations in foreign currency exchange rates.

(b)

Percentage of the portfolio’s total pro rata square footage that was subject to lease.

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of December 31, 2010 (Unaudited)
by Geography and Property Type (Pro Rata Basis)
(in thousands)

		Annualized Contractual
Region		Minimum Base Rent				Percent
U.S.
West		$	45,294				19	%
South			42,473				18	%
East			37,829				16	%
Midwest			35,026				15	%
U.S. Total			160,622				68	%
International
Germany			30,204				13	%
France			19,179				8	%
Poland			11,863				5	%
Finland			10,128				4	%
Belgium			1,544				1	%
United Kingdom			1,332				1	%
International Total			74,250				32	%
Total		$	234,872				100	%

		Annualized Contractual
Property Type		Minimum Base Rent				Percent
Office		$	50,759				22	%
Industrial			47,515				20	%
Retail			47,094				20	%
Warehouse/Distribution			33,668				14	%
Self-Storage			18,742				8	%
Sports			12,033				5	%
Education			11,923				5	%
Hospitality			8,406				4	%
Other Properties (a)			4,732				2	%
Total		$	234,872				100	%

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of December 31, 2010 (Unaudited)
by Tenant Industry (Pro Rata Basis)
(in thousands)

		Annualized Contractual
Industry Type (a)		Minimum Base Rent				Percent
Retail Trade		$	59,650				25	%
Electronics			23,865				10	%
Healthcare, Education and Childcare			20,970				9	%
Business and Commercial Services			14,458				6	%
Leisure, Amusement, Entertainment			13,533				6	%
Chemicals, Plastics, Rubber, and Glass			12,462				5	%
Buildings and Real Estate			12,182				5	%
Hotels and Gaming			8,406				4	%
Automobile			8,023				3	%
Construction and Building			7,471				3	%
Transportation — Personal			6,560				3	%
Media: Printing and Publishing			6,007				3	%
Federal, State and Local Government			5,958				3	%
Beverages, Food, and Tobacco			5,703				2	%
Telecommunications			5,543				2	%
Insurance			5,170				2	%
Aerospace and Defense			4,349				2	%
Consumer and Durable Goods			3,899				2	%
Machinery			3,625				2	%
Transportation — Cargo			3,216				1	%
Other (b)			3,822				2	%
Total		$	234,872				100	%