Organization and Business (Tables)

12 Months Ended

Dec. 31, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of the Partnership interest in joint venture

During the periods presented, the Partnership owned interests in the following joint ventures (the "Joint Ventures") and properties:



Joint Venture	Joint Venture Partners	Ownership %	Properties
Fund VIII and Fund IX Associates ("Fund VIII-IX Associates")	• Wells Real Estate Fund VIII, L.P. • Wells Real Estate Fund IX, L.P.	54.8% 45.2%	1. US Cellular Building A four-story office building located in Madison, Wisconsin 2. 305 Interlocken Parkway A two-story office building located in Broomfield, Colorado
The Fund IX, Fund X, Fund XI and REIT Joint Venture ("Fund IX-X-XI-REIT Associates")⁽¹⁾	• Wells Real Estate Fund IX, L.P. • Wells Real Estate Fund X, L.P. • Wells Real Estate Fund XI, L.P. • Piedmont Operating Partnership, LP	39.0% 48.5% 8.8% 3.7%	3. 360 Interlocken Building⁽²⁾ A three-story office building located in Broomfield, Colorado 4. Avaya Building⁽³⁾ A one-story office building located in Oklahoma City, Oklahoma


⁽¹⁾	This joint venture wound up its affairs in 2011 and was terminated in the first quarter of 2012.


⁽²⁾	This property was sold in June 2011.


⁽³⁾	This property was sold in October 2010.

The Partnership's investments and approximate ownership percentage in Fund VIII-IX Associates as of December 31, 2012 and 2011 are summarized below:



	2012			2011
	Amount		Percentage	Amount		Percentage
Fund VIII-IX Associates	$	4,109,865	45%	$	4,239,485	45%

Summary of Activity

Rollforwards of the Partnership's investment in the Joint Ventures for the years ended December 31, 2012 and 2011 are presented below:



	2012			2011
Investment in Joint Ventures, beginning of year	$	4,239,485		$	7,186,841
Equity in income of Joint Ventures	154,327			720,494
Contributions to Joint Ventures	—			253,699
Distributions from Joint Ventures	(283,947		)	(3,921,549		)
Investment in Joint Ventures, end of year	$	4,109,865		$	4,239,485

- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

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