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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT |
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 |
Date of Report (Date of earliest event reported): June 5, 2009
_____________
WELLS REAL ESTATE INVESTMENT TRUST II, INC.
(Exact name of registrant specified in its charter)
_____________
Maryland | 000-51262 | 20-0068852 | ||
(State or other jurisdiction of | (Commission File Number) | IRS Employer | ||
incorporation or organization) | Identification No. | |||
6200 The Corners Parkway | ||||
Norcross, Georgia 30092-3365 | ||||
(Address of principal executive offices) |
Registrants telephone number, including area code: (770) 449-7800
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 7.01. |
Regulation FD Disclosure |
On or about June 5, 2009, the independent directors of Wells Real Estate Investment Trust II, Inc. (the Registrant) sent a letter to the Registrants stockholders advising them of certain matters relating to the Registrants portfolio and financial position, including some highlights as of December 31, 2008. A copy of the letter is attached as Exhibit 99.1 to this Current Report on Form 8-K. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein are deemed to have been furnished and shall not be deemed to be filed under the Securities Exchange Act of 1934.
Item 9.01. | Financial Statements and Exhibits | |
Exhibit | ||
Number | Exhibit Title | |
99.1 | Letter to Wells Real Estate Investment Trust II, Inc.s Stockholders dated June 5, 2009 |
2
SIGNATURE |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WELLS REAL ESTATE INVESTMENT TRUST II, INC. | ||||
Dated: June 5, 2009 | By: | /s/ Douglas P. Williams | ||
|
||||
Douglas P. Williams | ||||
Executive Vice President |
3
EXHIBIT INDEX | ||
Exhibit | ||
Number | Exhibit Title | |
99.1 | Letter to Wells Real Estate Investment Trust II, Inc.s Stockholders dated June 5, 2009 |
4
Exhibit 99.1 |
June 5, 2009 |
Dear Wells Real Estate Investment Trust II, Inc. Stockholder:
As the independent directors of Wells REIT II, we wrote to you in March to provide you with information regarding the financial position of Wells REIT II. We are pleased to follow up with additional information from our 2008 year-end financial statements, as audited by Deloitte & Touche and filed with the U.S. Securities and Exchange Commission.
Here are some of the highlights as of December 31, 2008:
· | Our distributions remained at an annualized rate of $0.60 per share for the 18th consecutive quarter. |
· | We paid a total of $242.4 million in distributions to stockholders in 2008 funded by our net cash provided by operating activities. |
· | Our portfolio had $5 billion invested in real estate assets. Our assets and leases from corporate tenants remain well-diversified by industry, by geography, by lease term, and by tenant. |
· | Our debt-to-real-estate asset ratio was approximately 25.5%, which we believe continues to rank among the least-leveraged public REITs, traded and nontraded. |
· | The portfolios leasable space was 97.5% occupied across 66 properties. Only 1% of the portfolios leases will expire before 2010, and 7% will expire before 2011. The average lease term remaining for the entire portfolio was 7.5 years. |
· | The portfolio experienced a very low tenant default rate, with uncollectible tenant receivables, net of recoveries, of less than 0.1% of total revenues in 2008. |
You should have recently received our annual report, which we encourage you to review. The information highlighted in this letter and contained in the annual report is for the year 2008, and there can be no assurances with respect to future results. While we are all affected by the currently difficult economic conditions, we believe Wells REIT II is well-positioned due to its long-standing conservative strategy and core principles. We encourage you to visit www.WellsReitII.com to keep up-to-date on Wells REIT IIs SEC filings and the most current portfolio details.
Thank you for your participation and for trusting us with your investment.
Sincerely, |
The Independent Directors of Wells REIT II |
/s/ E. Nelson Mills |
/s/ Charles R. Brown |
/s/ Neil H. Strickland |
E. Nelson Mills |
Charles R. Brown |
Neil H. Strickland |
Chairman, Audit Committee |
Audit Committee |
Audit Committee |
/s/ Richard W. Carpenter | /s/ Bud Carter | /s/ John L. Dixon | ||
Richard W. Carpenter | Bud Carter | John L. Dixon | ||
cc: Financial Representative |
RT2MPLTRI0905-0415
6200 The Corners Parkway Norcross, GA 30092-3365 Tel: 800-557-4830 www.wellsreitii.com