8-K 1 d8k.htm FORM 8-K Form 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) August 6, 2004

 


 

Wells Real Estate Fund VI, L.P.

(Exact Name of Registrant as Specified in Charter)

 


 

Georgia   0-23656   58-2022628

(State or Other Jurisdiction

of Incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

6200 The Corners Parkway, Norcross, Georgia 30092

(Address of Principal Executive Offices) (Zip Code)

 

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

 

 

(Former Name or Former Address, if Changed Since Last Report)

 



Item 9. Regulation FD Disclosure

 

August 6, 2004

 

Re: Quarterly distribution update for Wells Real Estate Fund VI

 

Dear Wells Fund VI Investor:

 

At Wells Real Estate Funds, our goal is to provide our investors with the highest level of service possible. As stewards of your investment, we are providing you with a distribution update on your Wells Limited Partnership investment.

 

Two recent sale transactions were highlights for the Fund. The three Stockbridge Village properties were sold on April 29, 2004, and 880 Holcomb Bridge Road was sold on July 1, 2004. These sales capitalized on the current strong investor demand for retail shopping centers in the market. We have secured 100% occupancy at the Marathon building through two long-term leases, placing this asset in a stable condition. We made our first distribution of net sale proceeds in January 2004 to limited partners, totaling approximately $5,231,000. We also have announced the next net sale proceeds distribution to limited partners, scheduled for the fourth quarter 2004, totaling $4,596,520, from the sales of the Hartford, Stockbridge Village II, Stockbridge Village III, and Stockbridge Village I Expansion properties.

 

The second quarter 2004 operating distributions to the Class A unit holders were 2.5%, a decline from the 5.0% rate the prior quarter, as a result of the free rent periods at the Marathon building and the decreased revenues resulting from the sales of the Stockbridge Village properties. The General Partners anticipate that operating distributions will remain at a similar level in the near term, particularly given the near-term free rent periods at Marathon. As 2004 progresses, the General Partners will evaluate if further distributions of net sale proceeds are appropriate.

 

We would like to highlight that, through June 30, 2004, current Class A unit holders have received cumulative net operating cash flows of approximately $16.2 million, as compared to $22.9 million originally invested, or approximately 71% of the dollars invested since inception.

 

No operating distributions have been made to investors holding Class B units or to the General Partners, in line with the partnership agreement.

 

Form 10-Q for the second quarter 2004 (which includes a complete Fund update) will be available to you online at www.wellsref.com within a few weeks. Ongoing information regarding Fund VI activities also is available to you on the same Web site.

 

Should you have any questions regarding Fund VI, please don’t hesitate to contact the Wells Investor Services Department at 800-557-4830. For your convenience, the Wells Investor Services Department is available Monday through Thursday from 8:15 a.m. until 7:30 p.m. (ET), and Friday from 8:15 a.m. until 5:30 p.m. (ET). Please take comfort in knowing your calls will always be answered by a live voice at Wells — not an automated system — during our regular support hours at our corporate office in Atlanta, Georgia. You also may contact an Investor Services Specialist via e-mail at investorservices@wellsref.com.

 

2


Our ongoing priority at Wells Real Estate Funds is to provide you with unparalleled customer service, and we thank you for allowing us to serve your financial needs, now and in the future.

 

Sincerely,

 

LOGO

Richard Scott

Vice President

Investor Relations

cc: Financial Consultant

 

3


SIGNATURES

 

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 VI, L.P.

(Registrant)

By:

 

WELLS PARTNERS, L.P.

General Partner

   

By:

 

Wells Capital, Inc.

General Partner

       

By:

     

/s/ Leo F. Wells, III


Leo F. Wells, III

President

By:

 

/s/ Leo F. Wells, III


LEO F. WELLS, III

General Partner

Date: August 6, 2004

 

4