Wells Promotes Two on Acquisitions Team

ATLANTA-Locally based Wells Real Estate Funds has promoted Joe Pangburn to director of development/build-to-suits and named Jeff Gilder director of structured transactions.

In a prepared statement, the locally based firm says the personnel changes are being made to help Wells achieve its 2002 acquisitions goal of $1 billion.

Panguburn and Gilder join Tom Hallowell who heads the firm’s third specialty line of business, sale/leasebacks.

Pangburn joined Wells in November 2001 as director of acquisitions and dispositions for the Southwest region. Prior to joining Wells, he was vice president at locally based Lend Lease Real Estate Investments.

Gilder joined Wells in January as director of acquisitions for the Eastern region. Before joining Wells, he was vice president of acquisitions and dispositions for BVT Institutional Investments, a Germany-based advisory firm.

In a printed statement, David Steinwedell, Wells’ chief investment officer, says he sees built-to-suits as “an avenue for acquisitions that has high potential.” He says Wells “will also be placing an added emphasis on cultivating our joint venture and portfolio transactions.”

Wells has completed 18 transactions totaling $500 million this year.