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Wells War Chest Tops $4B

ATLANTA-Locally based Wells Real Estate Funds ends the fund-raising phase of the Wells Real Estate Investment Trust Inc. which has acquired 100 class A properties totaling 20 million sf in 26 states for 130,000 investors.

By Alex Finkelstein | Updated on December 15, 2003

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.

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