Subsequent Event (Notes)

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

SUBSEQUENT EVENT

Disposition of the Commerce Street Building

On August 1, 2013, Wells VAF I sold the Commerce Street Building to an unrelated third party for a gross sales price of $11,200,000, exclusive of closing costs and a credit of approximately $602,000 for an outstanding tenant improvement obligation. As a result of the sale, Wells VAF I recognized a gain of approximately $268,000 and received net sale proceeds of approximately $10,844,000, which may be adjusted as additional information becomes available in subsequent periods. In the third quarter of 2012, Wells VAF I recorded an impairment loss on the Commerce Street Building of approximately $1,588,000 to reduce the carrying value of the property to its estimated fair value based on the present value of future cash flows. Following the disposition of the Commerce Street Building, the remaining availability on the NXT Loan was approximately $4,000,000, subject to certain funding requirements.