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ATLANTA-Privately held Wells Real Estate Funds has concluded the fund-raising phase of Wells Real Estate Investment Trust Inc. by generating $4 billion in equity from 130,000 investors since January 1998, the company notes in a Securities and Exchange Commission filing.

With that money, the nation’s largest non-traded office and industrial REIT has acquired 100 class A properties totaling 20 million sf in 26 states as of Dec. 10, says Leo F. Wells III, president and founder of Wells Real Estate Funds.

“Our goal for the Wells REIT is to continue to enhance the quality of the portfolio through active portfolio management and the acquisition of additional high-quality properties, backed by long-term credit-worthy tenants,” Wells says. “The demand for investment in the Wells REIT is a testament to the growing need for dividend income” by investors.

Besides purchasing existing class A office and industrial property, Wells buys corporate sale/leasebacks and build-to-suit projects. The company’s investment vehicles are the recently launched Wells REIT II, the Wells REIT, the Wells S&P REIT Index Fund and the Wells limited partnership program.

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