Exhibit 99.1

Corporate Property Associates 15 Incorporated
Supplemental Information

As of September 30, 2011

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”), modified funds from operations (“MFFO”), 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 Securities and Exchange Commission, 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 Attributable to CPA^®:15 Shareholders
to Modified Funds From Operations (MFFO) (Unaudited)
(in thousands, except share and per share amounts)

		Three Months Ended September 30,								Nine Months Ended September 30,
		2011				2010				2011				2010
Net income attributable to CPA®:15 - Global shareholders		$	17,268			$	16,363			$	39,777			$	38,971
Adjustments:
Depreciation and amortization of real property			13,974				14,914				42,497				44,922
(Gain) loss on sale of real estate, net			(910	)			—				(2,157	)			162
Proportionate share of adjustments to equity in net income of partially-owned entities to arrive at FFO:
Depreciation and amortization of real property			2,284				2,288				7,215				6,341
Gain on sale of real estate			(9,550	)			(64	)			(9,533	)			(237	)
Proportionate share of adjustments for noncontrolling interests to arrive at FFO			(5,683	)			(2,985	)			(13,309	)			(11,334	)
Total adjustments			115				14,153				24,713				39,854
FFO — as defined by NAREIT (a)			17,383				30,516				64,490				78,825
Adjustments:
Other depreciation, amortization and non-cash charges			1,614				(2,073	)			(387	)			318
Straight-line and other rent adjustments (b)			(3,358	)			(17	)			(5,541	)			518
Impairment charges and allowance for credit losses			12,936				3,381				33,215				3,381
Gain on extinguishment of debt			(3,501	)			—				(3,501	)			—
Gain on deconsolidation of subsidiary			—				(11,493	)			(4,501	)			(11,493	)
Acquisition expenses (c)			173				174				521				520
Above (below)-market rent intangible lease amortization, net (d)			1,283				1,873				4,038				5,643
(Accretion) amortization of discounts/amortization of premiums on debt investments, net			(92	)			(8	)			95				74
Realized (gains) losses on foreign currency, derivatives and other (e)			(529	)			40				(2,502	)			1,133
Unrealized losses on mark-to-market adjustments (f)			10				78				18				212
Proportionate share of adjustments to equity in net income of partially-owned entities to arrive at MFFO:
Other depreciation, amortization and other non-cash charges			120				552				156				265
Straight-line and other rent adjustments (b)			244				143				569				540
Impairment charges			755				8,580				1,863				9,150
Acquisition expenses (c)			14				(6	)			39				—
Above (below)-market rent intangible lease amortization, net (d)			127				464				381				747
Realized gains on foreign currency, derivatives and other (e)			(4	)			(72	)			(13	)			(217	)
Proportionate share of adjustments for noncontrolling interests to arrive at MFFO			1,266				(346	)			(3,510	)			(707	)
Total adjustments			11,058				1,270				20,940				10,084
MFFO		$	28,441			$	31,786			$	85,430			$	88,909
MFFO per share		$	0.24			$	0.27			$	0.72			$	0.77
Weighted average shares outstanding			130,230,264				127,681,629				129,643,319				126,974,970

CPA^®:15 9/30/2011 Supplemental 8-K — 2

MFFO per share calculation:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2011				2010				2011				2010
MFFO		$	28,441			$	31,786			$	85,430			$	88,909
Issuance of shares to an affiliate in satisfaction of fees due			2,607				2,764				7,826				8,300
MFFO numerator in determination of MFFO per share		$	31,048			$	34,550			$	93,256			$	97,209

Non-GAAP Financial Disclosure

Funds from Operations (“FFO”) and Modified Funds from Operations (“MFFO”)

Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT has promulgated a measure known as funds from operations, or FFO, which we believe to be an appropriate supplemental measure to reflect the operating performance of a real estate investment trust, or REIT. The use of FFO is recommended by the REIT industry as a supplemental performance measure. FFO is not equivalent to nor a substitute for net income or loss as determined under GAAP.

We define FFO, a non-GAAP measure, consistent with the standards established by the White Paper on FFO approved by the Board of Governors of NAREIT, as revised in February 2004, or the White Paper. The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding gains or losses from sales of property but including asset impairment writedowns, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect FFO. Our FFO calculation complies with NAREIT’s policy described above.

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The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time, especially if such assets are not adequately maintained or repaired and renovated as required by relevant circumstances and/or is requested or required by lessees for operational purposes in order to maintain the value disclosed. We believe that, since real estate values historically rise and fall with market conditions, including inflation, interest rates, the business cycle, unemployment and consumer spending, presentations of operating results for a REIT using historical accounting for depreciation may be less informative. Historical accounting for real estate involves the use of GAAP. Any other method of accounting for real estate such as the fair value method cannot be construed to be any more accurate or relevant than the comparable methodologies of real estate valuation found in GAAP. Nevertheless, we believe that the use of FFO, which excludes the impact of real estate related depreciation and amortization, provides a more complete understanding of our performance to investors and to management, and when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income. However, FFO and MFFO, as described below, should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating the operating performance of the company. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP FFO and MFFO measures and the adjustments to GAAP in calculating FFO and MFFO.

Changes in the accounting and reporting promulgations under GAAP (for acquisition fees and expenses from a capitalization/depreciation model to an expensed-as-incurred model) were put into effect in 2009. These other changes to GAAP accounting for real estate subsequent to the establishment of NAREIT’s definition of FFO have prompted an increase in cash-settled expenses, specifically acquisition fees and expenses for all industries as items that are expensed under GAAP, that are typically accounted for as operating expenses. Management believes these fees and expenses do not affect our overall long-term operating performance. Publicly registered, non-listed REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. While other start-up entities may also experience significant acquisition activity during their initial years, we believe that non-listed REITs are unique in that they have a limited life with targeted exit strategies within a relatively limited time frame after acquisition activity ceases. In the prospectus for our follow-on offering dated March 19, 2003 (the “Prospectus”), we stated our intention to begin considering liquidity events (i.e., listing of our common stock on a national exchange, a merger or sale of our assets or another similar transaction) for investors generally commencing eight years following the investment of substantially all of the proceeds from our public offerings, which occurred in 2004, and as noted in “Recent Developments” above, our board of directors recently formed a special committee of independent directors to explore possible liquidity transactions. Thus, we do not intend to continuously purchase assets and intend to have a limited life. Due to the above factors and other unique features of publicly registered, non-listed REITs, the Investment Program Association (“IPA”), an industry trade group, has standardized a measure known as MFFO, which the IPA has recommended as a supplemental measure for publicly registered non-listed REITs and which we believe to be another appropriate supplemental measure to reflect the operating performance of a non-listed REIT having the characteristics described above. MFFO is not equivalent to our net income or loss as determined under GAAP, and MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate with a limited life and targeted exit strategy, as currently intended. We believe that, because MFFO excludes costs that we consider more reflective of investing activities and other non-operating items included in FFO and also excludes acquisition fees and expenses that affect our operations only in periods in which properties are acquired, MFFO can provide, on a going forward basis, an indication of the sustainability (that is, the capacity to continue to be maintained) of our operating performance after the period in which we are acquiring properties and once our portfolio is in place. By providing MFFO, we believe we are presenting useful information that assists investors and analysts to better assess the sustainability of our operating performance now that our offering has been completed and essentially all of our properties have been acquired. We also believe that MFFO is a recognized measure of sustainable operating performance by the non-listed REIT industry. Further, we believe MFFO is useful in comparing the sustainability of our operating performance since our offering and essentially all of our acquisitions are completed with the sustainability of the operating performance of other real estate companies that are not as involved in acquisition activities. Investors are cautioned that MFFO should only be used to assess the sustainability of a company’s operating performance after a company’s offering has been completed and properties have been acquired, as it excludes acquisition costs that have a negative effect on a company’s operating performance during the periods in which properties are acquired.

We define MFFO, a non-GAAP measure, consistent with the IPA’s Guideline 2010-01, Supplemental Performance Measure for Publicly Registered, Non-Listed REITs: Modified Funds from Operations, or the Practice Guideline, issued by the IPA in November 2010. The Practice Guideline defines MFFO as FFO further adjusted for the following items, as applicable, included in the determination of GAAP net income: acquisition fees and expenses; amounts relating to deferred rent receivables and amortization of above and below market leases and liabilities (which are adjusted in order to reflect such payments from a GAAP accrual basis to a cash basis of disclosing the rent and lease payments); accretion of discounts and amortization of premiums on debt investments; nonrecurring impairments of real estate-related investments (i.e., infrequent or unusual, not reasonably likely to recur in the ordinary

CPA^®:15 9/30/2011 Supplemental 8-K — 4

course of business); mark-to-market adjustments included in net income; nonrecurring gains or losses included in net income from the extinguishment or sale of debt, hedges, foreign exchange, derivatives or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and after adjustments for consolidated and unconsolidated partnerships and joint ventures, with such adjustments calculated to reflect MFFO on the same basis. The accretion of discounts and amortization of premiums on debt investments, nonrecurring unrealized gains and losses on hedges, foreign exchange, derivatives or securities holdings, unrealized gains and losses resulting from consolidations, as well as other listed cash flow adjustments are adjustments made to net income in calculating the cash flows provided by operating activities and, in some cases, reflect gains or losses which are unrealized and may not ultimately be realized. While we are responsible for managing interest rate, hedge and foreign exchange risk, we retain an outside consultant to review all our hedging agreements. Inasmuch as interest rate hedges are not a fundamental part of our operations, we believe it is appropriate to exclude such infrequent gains and losses in calculating MFFO, as such gains and losses are not reflective of on-going operations.

Our MFFO calculation complies with the IPA’s Practice Guideline described above. In calculating MFFO, we exclude acquisition-related expenses, amortization of above- and below-market leases, fair value adjustments of derivative financial instruments, deferred rent receivables and the adjustments of such items related to noncontrolling interests. Under GAAP, acquisition fees and expenses are characterized as operating expenses in determining operating net income. These expenses are paid in cash by a company. All paid and accrued acquisition fees and expenses will have negative effects on returns to investors, the potential for future distributions, and cash flows generated by the company, unless earnings from operations or net sales proceeds from the disposition of other properties are generated to cover the purchase price of the property, these fees and expenses and other costs related to such property. Further, under GAAP, certain contemplated non-cash fair value and other non-cash adjustments are considered operating non-cash adjustments to net income in determining cash flow from operating activities. In addition, we view fair value adjustments of derivatives, impairment charges and gains and losses from dispositions of assets as infrequent items or items which are unrealized and may not ultimately be realized, and which are not reflective of on-going operations and are therefore typically adjusted for assessing operating performance. In particular, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations and assessments regarding general market conditions which can change over time. An asset will only be evaluated for impairment if certain impairment indications exist and if the carrying, or book value, exceeds the total estimated undiscounted future cash flows (including net rental and lease revenues, net proceeds on the sale of the property, and any other ancillary cash flows at a property or group level under GAAP) from such asset. Investors should note, however, that determinations of whether impairment charges have been incurred are based partly on anticipated operating performance, because estimated undiscounted future cash flows from a property, including estimated future net rental and lease revenues, net proceeds on the sale of the property, and certain other ancillary cash flows, are taken into account in determining whether an impairment charge has been incurred. While impairment charges are excluded from the calculation of MFFO as described above, investors are cautioned that, due to the fact that impairments are based on estimated future undiscounted cash flows and the relatively limited term of our operations, it could be difficult to recover any impairment charges.

Our management uses MFFO and the adjustments used to calculate it in order to evaluate our performance against other non-listed REITs which have limited lives with short and defined acquisition periods and targeted exit strategies shortly thereafter. As noted above, MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate in this manner. We believe that our use of MFFO and the adjustments used to calculate it allow us to present our performance in a manner that reflects certain characteristics that are unique to non-listed REITs, such as their limited life, limited and defined acquisition period and targeted exit strategy, and hence that the use of such measures is useful to investors. For example, acquisition costs were generally funded from the proceeds of our offering and other financing sources and not from operations. By excluding expensed acquisition costs, the use of MFFO provides information consistent with management’s analysis of the operating performance of the properties. Additionally, fair value adjustments, which are based on the impact of current market fluctuations and underlying assessments of general market conditions, but can also result from operational factors such as rental and occupancy rates, may not be directly related or attributable to our current operating performance. By excluding such changes that may reflect anticipated and unrealized gains or losses, we believe MFFO provides useful supplemental information.

Presentation of this information is intended to provide useful information to investors as they compare the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and MFFO the same way, so comparisons with other REITs may not be meaningful. Furthermore, FFO and MFFO are not necessarily indicative of cash flow available to fund cash needs and should not be considered as an alternative to net income (loss) or income (loss) from continuing operations as an indication of our performance, as an alternative to cash flows from operations as an indication of our liquidity, or indicative of funds available to fund our cash needs including our ability to make distributions to our stockholders. FFO and MFFO should be reviewed in conjunction with other GAAP measurements as an indication of our performance.

Neither the SEC, NAREIT nor any other regulatory body has passed judgment on the acceptability of the adjustments that we use to calculate FFO or MFFO. In the future, the SEC, NAREIT or another regulatory body may decide to standardize the allowable adjustments across the non-listed REIT industry and we would have to adjust our calculation and characterization of FFO or MFFO accordingly.

CPA^®:15 9/30/2011 Supplemental 8-K — 5

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,
		2011				2010
Cash flow provided by operating activities		$	124,382			$	124,572
Adjustments:
Distributions received from equity investments in real estate in excess of equity income, net (a)			(2,024	)			4,199
Distributions paid to noncontrolling interests, net (b)			(19,592	)			(24,645	)
Changes in working capital (c)			(1,553	)			(8,776	)
Adjusted cash flow from operating activities (d)		$	101,213			$	95,350
Adjusted cash flow per share		$	0.78			$	0.75
Distributions declared per share		$	0.5463			$	0.5430
Payout ratio (distributions per share/adjusted cash flow per share)			70	%			72	%
Weighted average shares outstanding			129,643,319				126,974,970

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. Adjusted cash flow from operating activities should not be considered as an alternative to cash provided by operating activities computed on a GAAP basis as a measure of our liquidity.

CPA^®:15 9/30/2011 Supplemental 8-K — 6

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2011 (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)		$	26,523				11	%
U-Haul Moving Partners, Inc. and Mercury Partners, L.P.			18,741				8	%
OBI A.G. (a)			12,433				6	%
Universal Technical Institute			10,008				4	%
Carrefour France, S.A. (a)			9,217				4	%
Life Time Fitness, Inc.			8,759				4	%
Marriott International, Inc.			8,406				4	%
True Value Company			6,962				3	%
Foster Wheeler AG			6,510				3	%
Pohjola Non-Life Insurance Company (a)			5,431				2	%
Total		$	112,990				49	%
Weighted Average Lease Term for Portfolio:		10.6 years

Portfolio

At September 30, 2011, our portfolio was comprised of our full or partial ownership interests in 321 properties, substantially all of which were triple-net leased to 76 tenants, and totaled approximately 29 million square feet (on a pro rata basis), with an occupancy rate of approximately 96%.

CPA^®:15 9/30/2011 Supplemental 8-K — 7

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2011 (Unaudited)
by Geography and Property Type (Pro Rata Basis)
(in thousands)

		Annualized Contractual
Region		Minimum Base Rent				Percent
U.S.
West		$	44,215				19	%
South			41,448				18	%
East			33,491				14	%
Midwest			33,124				14	%
U.S. Total			152,278				65	%
International
Germany			32,314				14	%
France			19,686				8	%
Poland			12,433				5	%
Finland			10,597				5	%
Netherlands			2,291				1	%
Belgium			1,621				1	%
United Kingdom			1,346				1	%
International Total			80,288				35	%
Total		$	232,566				100	%

		Annualized Contractual
Property Type		Minimum Base Rent				Percent
Office		$	50,263				22	%
Industrial			47,132				20	%
Retail			45,287				19	%
Warehouse/Distribution			34,255				15	%
Self Storage			18,741				8	%
Sports			12,288				5	%
Education			11,249				5	%
Hospitality			8,406				4	%
Other Properties (a)			4,945				2	%
Total		$	232,566				100	%

CPA^®:15 9/30/2011 Supplemental 8-K — 8

Corporate Property Associates 15 Incorporated
Portfolio Diversification as of September 30, 2011 (Unaudited)
by Tenant Industry (Pro Rata Basis)
(in thousands)

		Annualized Contractual
Industry Type (a)		Minimum Base Rent				Percent
Retail Trade		$	56,034				24	%
Electronics			24,640				11	%
Healthcare, Education and Childcare			20,456				9	%
Leisure, Amusement, Entertainment			13,867				6	%
Business and Commercial Services			13,299				6	%
Chemicals, Plastics, Rubber, and Glass			12,543				5	%
Buildings and Real Estate			12,181				5	%
Automobile			8,411				4	%
Hotels and Gaming			8,406				4	%
Construction and Building			7,608				3	%
Transportation — Personal			6,560				3	%
Telecommunications			6,018				2	%
Federal, State and Local Government			5,951				2	%
Beverages, Food, and Tobacco			5,761				2	%
Insurance			5,431				2	%
Media: Printing and Publishing			4,463				2	%
Aerospace and Defense			4,420				2	%
Consumer and Durable Goods			3,991				2	%
Machinery			3,684				2	%
Transportation — Cargo			2,629				1	%
Grocery			2,291				1	%
Other (b)			3,922				2	%
Total		$	232,566				100	%

CPA^®:15 9/30/2011 Supplemental 8-K — 9