Merger with CPA ® :16   Global On July 25, 2013, we and CPA ® :16   Global entered into a definitive agreement pursuant to which CPA ® :16   Global would merge with and into one of our wholly-owned subsidiaries, subject to the approval of our stockholders and the stockholders of CPA ® :16   Global. On January 24, 2014, our stockholders and the stockholders of CPA ® :16   Global each approved the CPA ® :16 Merger, and the CPA ® :16 Merger closed on January 31, 2014. In the CPA ® :16 Merger, CPA ® :16   Global stockholders received 0.1830 shares of our common stock in exchange for their shares of CPA ® :16   Global stock, pursuant to an exchange ratio based upon a value of $ 11.25 per share of CPA ® :16   Global and the volume weighted average trading price of our common stock for the five consecutive trading days ending on the third trading day preceding the closing of the transaction on January 31, 2014. CPA ® :16   Global stockholders received cash in lieu of any fractional shares in the CPA ® :16 Merger. We paid total merger consideration of approximately $ 1.8 billion , including the issuance of 30,729,878 shares of our common stock with a fair value of $ 1.8 billion , based on the closing price of our common stock on January 31, 2014, of $ 59.08 per share, to the stockholders of CPA ® :16   Global in exchange for the 168,041,772 shares of CPA ® :16   Global common stock that we and our affiliates did not previously own, and cash of $1.3 million paid in lieu of issuing any fractional shares, or collectively, the Merger Consideration. As a condition of the CPA ® :16 Merger, we waived the subordinated disposition and termination fees that we would have been entitled to receive from CPA ® :16   Global upon its liquidation pursuant to the terms of our advisory agreement with CPA ® :16   Global ( Note 4 ). Immediately prior to the CPA ® :16 Merger, CPA ® :16   Global s portfolio was comprised of the consolidated full or partial interests in 327 leased properties, substantially all of which were triple-net leased wi