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Article: Wells Real Estate Funds Launches New Wells REIT II Offering of Up to $7.76 Billion.
- Article from:
- PR Newswire
- Article date:
- December 2, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, Dec. 2 /PRNewswire/ -- Wells Real Estate Funds announces the launch of its latest real estate investment product, the Wells Real Estate Investment Trust II, Inc.
The Wells REIT II offering is for 600 million newly issued shares of common stock priced at $10.00 per share (with discounts available for certain categories of purchasers). In addition, 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 Wells REIT II expects to use substantially all of the net proceeds from the offering to acquire and operate commercial real estate, primarily consisting of high-quality, ...