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ATLANTA-The Wells Real Estate Funds family reports it has topped the $2-billion mark in capital transactions year to date and is shooting for a record $3.5 billion by year's end. The Wells products are Wells REIT I, Wells REIT II and Wells LPs.

The group's newest fund, Wells Real Estate Investment Trust II Inc., has reached the $1.5-billion mark in 2005 deals and is confident it can achieve $2.5 billion by Dec. 31. More than 200,000 private investors have bought into the three funds, according to the company. Wells Real Estate Funds is a public but non-traded real estate investment management company.

"To reach our year-end goals, we are diligently investigating the marketplace to find the best properties for our investors," says Donald A. Miller, chief real estate officer for Wells Real Estate Funds. "While our focus has remained core real estate, we have expanded the universe to include first-rate value-added properties as well."

Wells REIT II, the newest fund, owns 28 properties in 15 states and the District of Columbia, covering 7.5 million sf of office space. The three funds collectively own $6.5 billion in assets, based on purchase price, totaling over 30 million sf.

"Wells REIT II has reached the $1.5-billion milestone despite a challenging year for purchasing commercial real estate," says David Steinwedell, chief investment officer for Wells Real Estate Funds. "Driven by dual objectives of quality in the real estate and quality of the tenant, we are continuing to exercise strict discipline when purchasing real estate."

Instant Insights /

Wells Shoots for $3B-Plus Transaction Goal

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