8-K

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) May 1, 2008

Wells Real Estate Fund XIV, L.P.

(Exact Name of Registrant as Specified in Charter)

Georgia	000-50647	01-0748981
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6200 The Corners Parkway, Norcross, Georgia	30092-3365
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (770) 449-7800

N/A

(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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

On or about May 1, 2008, Wells Real Estate Fund XIV, L.P. (the “Registrant”) sent a letter to the limited partners of the Registrant providing an update of the Registrant’s portfolio along with a distribution check, if applicable. Copies of the letter and Fact Sheet are attached as Exhibit 99.1 and 99.2, respectively, 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 limited partners
99.2	Wells Real Estate Fund XIV, L.P. Fact Sheet data as of March 31, 2008

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

WELLS REAL ESTATE FUND XIV, L.P. (Registrant)
By:	WELLS CAPITAL, INC. General Partner
	By:	/s/ Douglas P. Williams
		Douglas P. Williams Senior Vice President

Date: May 1, 2008

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EXHIBIT INDEX

Exhibit Number	Exhibit Title
99.1	Letter to limited partners
99.2	Wells Real Estate Fund XIV, L.P. Fact Sheet data as of March 31, 2008

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EX-99.1

Exhibit 99.1

May 1, 2008

Re: First Quarter 2008 Wells Limited Partnership Account Summary and Fact Sheets

Dear Wells L.P. Investor:

I’m pleased to provide you with your first quarter limited partnership update. This update packet includes the following materials:

• Partnership Account Details of all your account activity in the first quarter.

• Consolidated Partnership Distribution Summary of first quarter distributions and withholdings if the Fund(s) in which you are invested are distributing proceeds this quarter.*

• Consolidated Distribution Check if the Fund(s) in which you are invested are distributing proceeds this quarter.* (Please see the enclosed fact sheet for more information about distributions.)

• First Quarter 2008 L.P. Fact Sheet for each Fund in which you are a limited partner.

* Class “A” share investors in Wells Funds VIII, IX, X, XII, XIII, and XIV are expected to receive an operating distribution, and investors in Wells Funds VIII and IX are expected to receive a net sales proceeds distribution this quarter.

The Consolidated Partnership Distribution Summary includes any operating distributions (quarterly amounts paid out of net cash flow from operations), NSP distributions (net proceeds from sales of properties), and withholdings deducted during the first quarter.

As in previous quarters, you’ll want to review the Fund Fact Sheet(s), which include(s) a comprehensive overview of a Fund’s portfolio, property activity, and current return.

Continued on reverse

6200 The Corners Parkway Norcross, GA 30092-3365 Tel: 770-449-7800 Tel: 800-557-4830

Fax: 770-243-8198 www.wellsref.com

If you have any questions, please contact us at 800-557-4830. Our Investor Services Specialists are available Monday through Thursday, 8:15 a.m. to 6:30 p.m., and Friday, 8:15 a.m. to 5:30 p.m. (ET). You also may send an e-mail to investor.services@wellsref.com.

Sincerely,

Leo F. Wells III

General Partner

Enclosures

cc: Financial Representative

Disclosures

This material may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers of this material should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this letter. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this letter.

LPMPLTRI0804-0407

EX-99.2

Exhibit 99.2

PORTFOLIO SUMMARY

PROPERTIES OWNED	% LEASED AS OF 3/31/2008		PERCENT OWNED		ACQUISITION DATE	ACQUISITION PRICE*		DISPOSITION DATE	DISPOSITION PRICE		ALLOCATED NET SALE PROCEEDS
Siemens – Orlando	100	%	53	%	10/30/03	$	11,729,950	N/A		N/A		N/A
Randstad – Atlanta	SOLD		53	%	12/19/03	$	6,556,365	4/24/07	$	9,250,000	$	4,739,100
7500 Setzler Parkway	SOLD		53	%	3/26/04	$	7,040,475	1/31/07	$	8,950,000	$	4,597,063
150 Apollo Drive	100	%	100	%	5/16/05	$	12,339,064	N/A		N/A		N/A
3675 Kennesaw 75	100	%	100	%	1/31/06	$	3,403,674	N/A		N/A		N/A
WEIGHTED AVERAGE	100	%

* The Acquisition Price does not include the up-front sales charge.

FUND FEATURES

OFFERING DATES	May 2003 – April 2005
PRICE PER UNIT	$10
STRUCTURE	Cash-Preferred – Cash available for distribution up to 10% Preferred Tax-Preferred – Net loss until capital account reaches zero + No Operating Distributions
STRUCTURE RATIO AT CLOSE OF OFFERING	Cash-Preferred – 73% Tax-Preferred – 27%
AMOUNT RAISED	$34,741,238

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 March 31, 2008. We do not make any representations or warranties (expressed or implied) about the accuracy of any such statements to the investor’s 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 XIV is in the holding phase of its life cycle. The Fund now owns interests in three properties, which are well-leased. Our focus in the near-term is to maintain the high occupancy level of the portfolio and maximize operating performance in each of the assets in order to deliver what we believe will be greater overall performance for our investors.

The first quarter 2008 operating distributions to the Cash-Preferred unit holders were 7.50% (see “Estimated Annualized Yield” table), consistent with the prior quarter. The General Partners anticipate that operating distributions may remain at a similar level in the near-term.

The Cumulative Performance Summary, which provides a high-level overview of the Fund’s overall performance to date, is on the back page.

Continued on reverse

Property Summary

• The Siemens – Orlando building was acquired in October 2003. The property is 100% leased to three tenants, and the major lease to Siemens extends to 2009.

• The Randstad – Atlanta building was sold on April 24, 2007. Net sale proceeds of $4,739,100 were allocated to the Fund. Almost all of these proceeds were included in the net sales proceeds distribution in November 2007. The remaining proceeds are being reserved at this time.

• 7500 Setzler Parkway is located in Brooklyn Park, Minnesota. This asset was sold on January 31, 2007, and net sale proceeds of approximately $4,597,063 were allocated to the Fund. Net sale proceeds of approximately $4,590,000 were distributed to the limited partners in August 2007. The remaining $7,063 of proceeds was included in the net sale proceeds distribution in November 2007.

• 150 Apollo Drive is located in Chelmsford, Massachusetts, a suburb of Boston. This asset is 100% leased to Avaya through April 2010.

• 3675 Kennesaw 75 is located in Kennesaw, Georgia, a suburb of Atlanta. This asset is 100% leased to World Electric Supply through October 2012.

For a more detailed annual financial report, please refer to Fund XIV’s most recent 10-K filing, which can be found on the Wells Web site at www.wellsref.com.

CUMULATIVE PERFORMANCE SUMMARY⁽¹⁾

	Par Value		Cumulative Operating Cash Flow Distributed		Cumulative Passive Losses(2)		Cumulative Net Sale Proceeds Distributed		Estimated Unit Value as of 12/31/07(3)
PER “CASH-PREFERRED” UNIT	$	10	$	3.08		N/A	$	2.07	$	6.41
PER “TAX-PREFERRED” UNIT	$	10	$	0.00	-$	0.15	$	3.72	$	6.74

⁽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 2007 Form 10-K for this partnership.

ESTIMATED ANNUALIZED YIELD*

	Q1		Q2		Q3		Q4		AVG YTD
2008	7.50	%
2007	7.75	%	6.75	%	7.50	%	7.50	%	7.38	%
2006	8.25	%	8.25	%	8.25	%	8.25	%	8.25	%
2005	5.00	%	5.75	%	7.50	%	7.50	%	6.44	%
2004	6.75	%	6.75	%	4.75	%	5.25	%	5.88	%
2003	N/A		0.00	%	0.00	%	3.30	%	1.30	%

TAX PASSIVE LOSSES—“TAX-PREFERRED” PARTNERS

2007	2006		2005		2004		2003		2002
-18.90%**	7.34	%	5.14	%	3.99	%	0.98	%	N/A

* 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.

6200 The Corners Parkway • Norcross, GA 30092-3365 • www.wellsref.com • 800-448-1010

LPMPFSI0804-0408 ^© 2008 Wells Real Estate Funds