Exhibit 99.2
PORTFOLIO SUMMARY
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PROPERTIES OWNED |
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% LEASED AS OF 6/30/2011 |
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PERCENT OWNED |
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ACQUISITION DATE |
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ACQUISITION PRICE* |
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DISPOSITION DATE |
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DISPOSITION PRICE |
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ALLOCATED NET SALE PROCEEDS |
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Alstom Power |
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SOLD |
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39 |
% |
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12/10/96 |
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$ |
8,137,994 |
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3/15/05 |
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$ |
12,000,000 |
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$ |
4,545,538 |
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14079 Senlac Drive |
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SOLD |
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45 |
% |
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10/10/96 |
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$ |
4,474,700 |
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11/29/07 |
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$ |
5,410,200 |
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$ |
2,308,640 |
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Avaya |
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SOLD |
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39 |
% |
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6/24/98 |
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$ |
5,512,472 |
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10/15/10 |
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$ |
5,300,000 |
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$ |
1,993,551 |
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305 Interlocken Parkway |
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100 |
% |
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45 |
% |
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2/20/97 |
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$ |
7,087,770 |
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N/A |
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N/A |
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$ |
361,626 |
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360 Interlocken Boulevard |
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SOLD |
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39 |
% |
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3/20/98 |
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$ |
8,567,344 |
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6/2/11 |
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$ |
9,150,000 |
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$ |
3,390,578 |
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Iomega |
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SOLD |
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39 |
% |
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4/1/98 |
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$ |
5,934,250 |
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1/31/07 |
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$ |
4,867,000 |
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$ |
1,828,642 |
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1315 West Century Drive |
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SOLD |
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39 |
% |
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2/13/98 |
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$ |
10,361,070 |
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12/22/06 |
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$ |
8,325,000 |
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$ |
3,145,720 |
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15253 Bake Parkway |
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SOLD |
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38 |
% |
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1/10/97 |
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$ |
8,459,425 |
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12/2/04 |
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$ |
12,400,000 |
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$ |
4,526,770 |
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U.S. Cellular |
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73 |
% |
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45 |
% |
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6/17/96 |
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$ |
10,485,786 |
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N/A |
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N/A |
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N/A |
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WEIGHTED AVERAGE |
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82 |
% |
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* |
The Acquisition Price does not include the up-front sales charge or capital expenditures, depreciation/amortization, or impairments incurred over our ownership period,
as applicable. |
FUND FEATURES
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OFFERING DATES |
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January 1996 December 1996 |
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PRICE PER UNIT |
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$10 |
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A/B STRUCTURE |
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As Cash available for distribution up to 10% Preferred Bs Net loss until capital
account reaches zero + No Operating Distributions |
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A/B RATIO AT CLOSE OF OFFERING |
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84% to 16% |
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AMOUNT RAISED |
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$35,000,000 |
Please note that the figures and dates in this fact sheet are subject to change as additional information becomes
available related to a variety of factors, such as closing costs, prorations, and other adjustments.
The financial information presented is
preliminary and subject to change, pending the filing of the Partnerships Form 10-Q for the period ended June 30, 2011. We do not make any representations or warranties (expressed or implied) about the accuracy of any such statements to
the investors realized results at the close of the Fund.
Readers of this fact sheet should be aware that there are various factors and
uncertainties that could cause actual results to differ materially from any forward-looking statements made in this material. Past performance is no guarantee of future results.
Portfolio Overview
Wells Fund IX is in the positioning-for-sale phase of its life cycle, with two assets remaining following the disposition of 360 Interlocken Boulevard on June 2, 2011. Our focus on these assets
involves concentrating on leasing and marketing that we believe will ultimately result in better disposition prices for our investors.
Flextronics, the sole tenant at 305 Interlocken Parkway, intends to vacate the building at lease expiration (August 31, 2011). We are actively marketing
the building space for long-term lease.
Second quarter 2011 operating distributions were reserved (see Estimated Annualized Yield
table). We anticipate that operating distributions may remain reserved in the near-term, given the anticipated leasing capital and capital improvements needed at the two remaining properties.
As a result of the sale of the 360 Interlocken Boulevard property, the General Partners are evaluating the current needs of the portfolio and the possibility and related timing of a potential distribution
of net sale proceeds.
The Cumulative Performance Summary, which provides a high-level overview of the Funds overall performance
to date, is on the reverse.
Continued on
reverse
Property Summary
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The Alstom Power building was sold on March 15, 2005, following the lease renewal and extension with Alstom Power. Net sale proceeds of
$4,545,538 were allocated to the Fund. The November 2005 distribution included $3,449,511 of these proceeds. The remaining $1,096,027 was distributed to the limited partners in August 2007. |
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14079 Senlac Drive was sold on November 29, 2007, and net sale proceeds of $2,308,640 were allocated to the Fund. Of that amount,
$1,529,614 was distributed in May 2008, and the balance of the funds is being reserved at this time to fund anticipated capital at the remaining assets in the Fund. |
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The Avaya building was sold on October 15, 2010, and $1,993,551 in net sale proceeds was allocated to the Fund. These proceeds are being
reserved at this time to cover anticipated capital at the remaining assets in the Fund. |
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The 305 Interlocken Parkway property is located in the Broomfield submarket of Denver, Colorado. The entire building is leased to Flextronics
USA, Inc. through August 2011. Flextronics intends to vacate the building at lease expiration. We are actively marketing the space in the building for long-term lease. |
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The 360 Interlocken Boulevard property was sold on June 2, 2011, and $3,390,578 in net sale proceeds was allocated to the Fund.
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The Iomega building was sold on January 31, 2007, and net sale proceeds of approximately $1,828,642 were allocated to the Fund. Of the
proceeds, $858,255 was distributed to the limited partners in August 2007. The remaining $970,387 was distributed in May 2008. |
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The 1315 West Century Drive building was sold on December 22, 2006. Net sale proceeds allocated to the Fund totaled $3,145,720 and were
distributed to the limited partners in August 2007. |
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The 15253 Bake Parkway building was sold on December 2, 2004, following the signing of a new 10-year lease with Gambro Healthcare. Of the
net sale proceeds, $4,526,770 was allocated to the Fund, and $237,910 was used to fund the Partnerships pro-rata share of the Gambro re-leasing costs. We distributed $2,488,372 of these proceeds to the limited partners in May 2005. The
remaining proceeds were included in the November 2005 distribution. |
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The U.S. Cellular building is located in Madison, Wisconsin. Approximately 73% of the space is leased to U.S. Cellular through April 2013, and
we are actively marketing the remaining vacant space for long-term lease. |
For a more detailed quarterly
financial report, please refer to Fund IXs most recent 10-Q filing, which can be found on the Wells website at www.WellsREF.com.
CUMULATIVE PERFORMANCE SUMMARY
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Par Value |
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Cumulative Operating Cash
Flow Distributed(1) |
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Cumulative Passive
Losses(1 & 2) |
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Cumulative
Net Sale
Proceeds Distributed(1) |
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Estimated Unit Value
as of 12/31/10(3) |
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PER A UNIT |
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$ |
10 |
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$ |
7.46 |
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N/A |
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$ |
3.70 |
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$ |
3.89 |
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PER B UNIT |
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$ |
10 |
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$ |
0.00 |
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-$ |
0.70 |
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$ |
10.74 |
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$ |
3.79 |
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(1) |
These per-unit amounts represent estimates of the amounts attributable to the limited partners who have purchased their units directly from the
Partnership in its initial public offering of units and have not made any conversion elections from Class A units to Class B units, or vice versa, under the Partnership agreement. |
(2) |
This estimated per-unit amount is calculated as the sum of the annual per-unit cumulative passive loss allocated to a Pure Class B Unit, reduced for
Gain on Sale per unit allocated to a Pure Class B Unit. |
(3) |
Please refer to the disclosure related to the estimated unit valuations contained in the 1/31/2011 Form 8-K for this partnership.
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ESTIMATED ANNUALIZED YIELD*
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Q1 |
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Q2 |
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Q3 |
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Q4 |
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AVG YTD |
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2011 |
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Reserved |
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Reserved |
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2010 |
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Reserved |
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Reserved |
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Reserved |
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Reserved |
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0.0 |
% |
2009 |
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Reserved |
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Reserved |
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Reserved |
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Reserved |
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0.00 |
% |
2008 |
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3.75 |
% |
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2.50 |
% |
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2.50 |
% |
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Reserved |
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2.19 |
% |
2007 |
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3.75 |
% |
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3.75 |
% |
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3.75 |
% |
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3.75 |
% |
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3.75 |
% |
2006 |
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4.50 |
% |
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4.50 |
% |
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4.50 |
% |
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Reserved |
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3.38 |
% |
2005 |
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5.00 |
% |
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4.00 |
% |
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Reserved |
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4.00 |
% |
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3.25 |
% |
2004 |
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8.25 |
% |
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Reserved |
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8.25 |
% |
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Reserved |
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4.13 |
% |
2003 |
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8.25 |
% |
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8.00 |
% |
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9.00 |
% |
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9.00 |
% |
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8.56 |
% |
2002 |
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9.00 |
% |
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8.75 |
% |
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9.00 |
% |
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9.00 |
% |
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8.94 |
% |
2001 |
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9.00 |
% |
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9.50 |
% |
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9.50 |
% |
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9.50 |
% |
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9.38 |
% |
2000 |
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8.75 |
% |
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9.00 |
% |
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9.25 |
% |
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9.25 |
% |
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9.06 |
% |
1999 |
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9.15 |
% |
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9.16 |
% |
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9.00 |
% |
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8.12 |
% |
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8.86 |
% |
TAX PASSIVE LOSSES CLASS B PARTNERS
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2010 |
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2009 |
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2008 |
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2007 |
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2006 |
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2005 |
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0.00 |
% |
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0.00 |
% |
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-9.05 |
%** |
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-16.97 |
%** |
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0.01 |
% |
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-65.71 |
%** |
* |
The calculation is reflective of the $10 offering price, adjusted for NSP paid-to-date to Class A unit holders. |
** |
Negative percentage due to income allocation.
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6200 The
Corners Parkway Norcross, GA 30092-3365 www.WellsREF.com 800-557-4830
LPMPFSI1107-0450-9