Wells Real Estate Funds, Atlanta, has reported what it says it believes to be a record distribution of net proceeds from the sale of 27 office and industrial properties to more than 120,000 investors in Wells Real Estate Investment Trust Inc.The distribution, equal to $1.62 per share, represented Wells REIT's portion of the April sale. The company said it is believed to be the largest single distribution of capital to investors in the history of nontraded REITs. The portfolio, which included properties wholly or jointly owned by Wells REIT, was sold to Lexington Corporate Properties Trust, New York, for $786 million. Wells Real Estate Funds can be found online at http://www.wellsref.com.
Processing Content
