August 10, 2007

A New Name for Wells REIT

Changes name to Piedmont Office Realty Trust

Wells Real Estate Investment Trust, the public, nontraded REIT with about $5 billion in assets across the country (mostly class A office buildings) has changed its name to Piedmont Office Realty Trust Inc. The REIT was incorporated in 1997, began operations in 1998, and was closed to new investors in 2003, but used external advisors to acquire and manage its properties until it became a self-managed office REIT in April 2007 by acquiring those external advisor companies. Donald Miller is president and CEO of Piedmont, whose new Web site www.piedmontreit.com.

Wells REIT is the largest fund launched by Wells Real Estate Funds, a national real estate investment company based in suburban Atlanta; Wells REIT says its average rated-tenant credit rating is A+.

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