MD
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20-0068852
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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Information to be included in the report
This Current Report on Form 8-K is being filed to present summarized financial information of the tenant that occupies the real property acquired by Wells Real Estate Investment Trust II, Inc. (the "Registrant") described in Item 8.01.
On September 26, 2007, the Registrant purchased one five-story office building and three four-story office buildings containing approximately 478,000 rentable square feet (the "South Jamaica Street Buildings") for approximately $138.5 million, exclusive of closing costs. The South Jamaica Street Buildings are located on an approximate 30.8-acre parcel of land at 9127, 9189, 9191 and 9193 South Jamaica Street, Englewood, Colorado. The South Jamaica Street Buildings were purchased from CH2M HILL Companies, Inc. ("CH2M HILL"), which is not affiliated with the Registrant, its subsidiaries or Wells Capital, Inc. The acquisition was funded with net proceeds raised from the Registrant's ongoing public offering and proceeds from the Registrant's $400 million line of credit with Wachovia Bank, N.A.
The South Jamaica Street Buildings, which were completed between 2002 and 2007, are entirely leased to CH2M HILL. CH2M HILL is a global firm providing engineering, construction, operations, and related technical services to public and private clients. CH2M HILL reported a net worth, as of June 30, 2007, of approximately $402.7 million. The current annual base rent for CH2M HILL is approximately $10.0 million. The current remaining lease term for CH2M HILL is approximately 10 years. CH2M HILL has the right to extend the term of its lease for two successive periods of five or ten years each.
Based on the current condition of the South Jamaica Street Buildings, the Registrant does not believe it will be necessary to make significant renovations to the South Jamaica Street Buildings in the near term. Management of the Registrant believes that the South Jamaica Street Buildings are adequately insured.
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Wells Real Estate Investment Trust II, Inc.
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Date: September 26, 2007
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By:
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/s/ Douglas P. Williams
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Douglas P. Williams
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Executive Vice President
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Exhibit No.
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Description
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EX-99.1
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Summarized Tenant Financial Data
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