Wells REIT II Lands $500M in Financing
Three-Year Unsecured Credit Facility for Future Operations
NORCROSS, Ga. (May 27, 2010) - Wells Real Estate Investment Trust II Inc. announced today that it has obtained $500 million in new financing for future operations.
The three-year, unsecured revolving credit facility is issued by a syndicate of lenders led by JPMorgan Chase Bank NA. Wells initially sought $350 million in financing, but received additional interest from lenders.
The credit facility gives the REIT additional financial flexibility as it looks to enhance and add to its real estate portfolio. The facility is at favorable rates that are based on Wells REIT II's corporate credit rating and other requirements.
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.
