| Wells Real Estate Investment Trust, Inc. | |||
| Proposed Ticker: | - | 3885 Holcomb Bridge Road | |
| Exchange: | None | Norcross, GA 30092 | |
| Industry: | Financial (SIC Code 6798) | (770) 449-7800 | |
| # of Employees: | 0 | ||
| Type of Shares: | Common Shares | Filing Date: | 7/25/97 | |
| U.S. Shares Filed: | 15,000,000 | Filing Price: | $10.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $150,000,000 | |
| Primary Shares: | 15,000,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: |
| Manager | Tier | Phone |
| Wells Investment Services | Lead Manager |
| Issuer's Law Firm: | Hunton & Williams |
| Auditor: | Arthur Andersen |
| Business Description |
| The company is a real estate investment trust (REIT). The company will seek to acquire and operate commercial properties, including without limitation, office buildings, shopping centers, business and industrial parks and other commercial properties. The company's objectives are to preserve, protect and return the invested capital of the shareholders; to maximize cash available for distribution; to realize capital appreciation upon the ultimate sale of the company's properties; and to provide shareholders with liquidity of their investment within ten years after commitment of the offering either through the listing of the shares or the dissolution of the company and orderly liquidation of its assets. |
| Competition |
| The company will experience competition for real estate property investments from individuals, corporations and bank and insurance company investment accounts, as well as other real estate investment partnerships, including the Prior Wells Public Programs, real estate investment trusts and other entities engaged in real estate investment activities. Competition for investments may have the effect of increasing costs and reducing cash available for distribution. |
| Use of Proceeds |
| The proceeds from the proposed offering will be invested in properties in accordance with its investment objectives, and the remainder will be used to pay selling commissions and fees and expenses relating to the selection and acquisition of properties and the costs of organizing the company and the offering. |
| Officer Name | Title | Age |
| Brian M. Conlon | Executive Vice President | |
| Leo F. Wells, III | President | |
| Michael L. Watson | Vice President - Construction | |
| Robert H. Stroud | Vice President - Leasing | |
| M. Scott Meadows | Vice President - Property Management | |
| Michael C. Berndt | Vice President and Chief Financial Officer | |
| Annakay S. Warden | Vice President and Director of National Accounts |