Subsequent Event

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events [Text Block]

SUBSEQUENT EVENT

Disposition of the Parkway at Oak Hill Buildings

On May 9, 2012, Wells VAF I sold the Parkway at Oak Hill Buildings to an unrelated third party for a gross sales price of $31,300,000, exclusive of adjustments and closing costs. As a result of the sale, Wells VAF I recognized a gain of approximately$5.6 million and received net sale proceeds of approximately $30.5 million, of which $19.2 million was applied against the outstanding NXT Loan balance. These amounts may be adjusted as additional information becomes available in subsequent periods.