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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| AT&T Oklahoma |
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SOLD |
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45 |
% |
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12/28/00 |
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$ |
15,327,554 |
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4/13/05 |
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$ |
21,430,000 |
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$ |
9,585,853 |
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| Comdata |
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100 |
% |
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45 |
% |
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5/15/01 |
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$ |
25,002,019 |
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N/A |
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N/A |
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N/A |
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| 111 Southchase Boulevard |
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SOLD |
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17 |
% |
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5/18/99 |
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$ |
5,121,827 |
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5/23/07 |
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$ |
7,625,000 |
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$ |
1,236,704 |
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| Gartner |
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SOLD |
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17 |
% |
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9/20/99 |
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$ |
8,347,618 |
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4/13/05 |
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$ |
12,520,404 |
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$ |
2,118,499 |
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| Johnson Matthey |
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SOLD |
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17 |
% |
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8/17/99 |
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$ |
8,056,392 |
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10/5/04 |
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$ |
10,000,000 |
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$ |
1,653,361 |
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| 4685 Investment Drive |
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100 |
% |
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45 |
% |
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5/10/00 |
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$ |
14,294,990 |
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N/A |
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N/A |
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N/A |
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| 20/20 Building |
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91 |
% |
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17 |
% |
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7/2/99 |
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$ |
9,546,210 |
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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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99 |
% |
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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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March 1999 – March 2001 |
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| PRICE PER UNIT |
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$10 |
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| STRUCTURE |
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Cash-Preferred – Cash available for distribution up to 10% Preferred
Tax-Preferred – Net loss until capital account reaches zero + No Operating Distributions |
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| STRUCTURE RATIO AT |
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Cash-Preferred – 76% |
| CLOSE OF OFFERING |
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Tax-Preferred – 24% |
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| AMOUNT RAISED |
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$35,611,192 |
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 Partnership’s 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 XII is in the positioning-for-sale phase of its life cycle. The Fund now owns interests in three properties. Our focus on these assets involves concentrating on leasing and marketing efforts
that we believe will ultimately result in better disposition prices for our investors.
Second quarter 2011 operating distributions to the
Cash-Preferred unit holders were 5.0% (see “Estimated Annualized Yield” table). The General Partners anticipate that operating distributions may remain at similar levels in the future or may decline due to the current volatility in the
automotive industry (4685 Investment Drive) and anticipated capital needs at the three remaining properties.
The Cumulative Performance
Summary, which provides a high-level overview of the Fund’s overall performance to date, is on the reverse.
Continued on reverse
Property Summary
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The AT&T Oklahoma building was sold on April 13, 2005, and $9,585,853 in net sale proceeds were allocated to the Fund. The November
2005 distribution included $9,579,588 of these proceeds. The remaining net sale proceeds were included in the November 2007 distribution. |
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The Comdata building in Brentwood, Tennessee, outside Nashville, is 100% leased through May 2016. |
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111 Southchase Boulevard was sold on May 23, 2007, following the lease execution with Caterpillar, Inc. Net sale proceeds of $1,236,704
were allocated to the Fund. Almost the entire amount was included in the net sale proceeds paid in November 2007. The remaining proceeds are being reserved at this time. |
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The Gartner building was sold on April 13, 2005, as part of a larger portfolio sale. The net sale proceeds allocated to the Fund from this
sale were $2,118,499. The November 2005 distribution included $2,117,051 of these proceeds. The remaining net sale proceeds were included in the November 2007 distribution. |
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The Johnson Matthey property was sold on October 5, 2004, and $1,653,361 in net sale proceeds has been allocated to the Fund. Of these
proceeds, $1,450,000 was distributed to the limited partners in May 2005. The remaining net sale proceeds were included in the November 2005 distribution. |
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4685 Investment Drive is located in Detroit, Michigan. The property is 100% leased to Continental Automotive through October 2015.
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The 20/20 Building is located in Kansas City, Kansas. The building is currently 91% leased to two divisions of Blue Cross and Blue Shield of
Kansas City (through October 2012) and Nolan Real Estate Services (through February 2014). We continue to actively market the remaining vacant space for lease. |
For a more detailed quarterly financial report, please refer to Fund XII’s most recent 10-Q filing, which can be found on the Wells website at www.WellsREF.com.
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| CUMULATIVE PERFORMANCE SUMMARY
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Par
Value |
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Cumulative
Operating
Cash
Flow
Distributed(1) |
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Cumulative
Passive
Losses(1 & 2)
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Cumulative
Net
Sale
Proceeds
Distributed(1) |
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Estimated
Unit
Value
as of
12/31/10(3) |
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| Per “Cash-
Preferred” Unit |
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$ |
10 |
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$ |
7.34 |
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N/A |
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$ |
3.13 |
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$ |
4.94 |
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| Per “Tax-
Preferred” Unit |
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$ |
10 |
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$ |
0.00 |
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$ |
1.32 |
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$ |
8.88 |
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$ |
5.59 |
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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 Cash-Preferred units
to Tax-Preferred units, or vice versa, under the Partnership agreement. |
| (2) |
This per-unit
amount is calculated as the sum of the annual per-unit cumulative passive loss allocated to a Pure Tax-Preferred Unit, reduced for Gain on Sale per unit allocated to a Pure Tax-Preferred 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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5.00 |
% |
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5.00 |
% |
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2.50 |
% |
| 2010 |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
| 2009 |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
| 2008 |
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7.00 |
% |
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7.00 |
% |
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7.00 |
% |
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5.50 |
% |
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6.63 |
% |
| 2007 |
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5.50 |
% |
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5.50 |
% |
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5.50 |
% |
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7.00 |
% |
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5.88 |
% |
| 2006 |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
| 2005 |
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7.25 |
% |
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5.00 |
% |
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5.00 |
% |
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7.00 |
% |
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6.06 |
% |
| 2004 |
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8.50 |
% |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
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6.63 |
% |
| 2003 |
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8.75 |
% |
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8.25 |
% |
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9.00 |
% |
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9.00 |
% |
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8.75 |
% |
| 2002 |
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9.50 |
% |
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9.50 |
% |
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9.25 |
% |
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9.25 |
% |
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9.38 |
% |
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| TAX PASSIVE LOSSES — “TAX-PREFERRED” 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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| 1.20% |
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6.48 |
% |
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8.00 |
% |
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3.24 |
% |
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7.97 |
% |
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-53.26 |
%** |
| * |
The calculation is reflective of the $10 offering price, adjusted for NSP paid-to-date to “Cash-Preferred” 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
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© 2011 Wells Real Estate Funds |
