WELLS REIT II CLOSING TO NEW INVESTMENTS JUNE 30
Nontraded REIT Has Amassed $5B in Quality Real Estate
NORCROSS, Ga. (April 30, 2010) - Wells Real Estate Investment Trust II Inc. announced today that it will close to new investments on June 30.
The public, nontraded REIT has more than 130,000 investors, and has acquired more than $5 billion in commercial real estate, focusing on core Class-A office properties. Conclusion of the share offering will not affect current investors or management of the existing portfolio. Dividend reinvestment will remain an available option for investors.
"Our Board of Directors believes the company has achieved its objective of building an outstanding portfolio and a strong balance sheet, and is ready for the next phase in its operations," said Leo Wells, president, Wells REIT II, in a message to investors.
Wells noted the REIT should continue to have access to capital as needed for future property acquisitions or portfolio enhancements, thanks to its low-leverage strategy and strong response from lenders.
The Wells REIT II portfolio includes 91 buildings in 23 states, Washington, D.C., and Russia, covering more than 20 million square feet. For information on Wells REIT II, visit http://www.wellsreitii.com/.
Wells Real Estate Funds, advisor to Wells REIT II, is a national real estate investment company founded in 1984. In its history, Wells investment offerings - current and closed - have invested more than $12 billion in real estate for more than 250,000 investors. For more information on Wells Real Estate Funds, visit http://www.wellsref.com/.
REIT quarterly distributions may include dividend income as well as return of capital and capital gains. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers of this press release should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this release. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. This is neither an offer nor a solicitation to purchase securities. Such an offer can be made only by prospectus. To obtain a prospectus, please contact Wells Investment Securities, Inc., 6200 The Corners Parkway, Norcross, Ga. 30092-3365 (tel. 800-448-1010). For SEC filings:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001252849&owner=include.
