Wells Real Estate Funds, Norcross, Ga., has announced the launch of Wells Real Estate Investment Trust II Inc. with an offering of 600 million shares of common stock priced at $10 per share.Wells REIT II is also offering up to 185 million shares of common stock at $9.55 per share under its dividend reinvestment plan. The fund is expected to use virtually all the proceeds of the offering to acquire and operate commercial real estate, with a special focus on office and industrial properties, Wells said. The company can be found online at http://www.wellsref.com.
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