Investment in Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Schedule of the Partnership's investments 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(1) A four-story office building located in Madison, Wisconsin 2. 305 Interlocken Parkway(2) 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")(3)	• 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(4) A three-story office building located in Broomfield, Colorado 4. Avaya Building(5) A one-story office building located in Oklahoma City, Oklahoma

⁽¹⁾  This property was sold in March 2013.

⁽²⁾  This property was sold in December 2013.

⁽³⁾  This joint venture wound up its affairs in 2011 and was terminated in the first quarter of 2012.

⁽⁴⁾  This property was sold in June 2011.

⁽⁵⁾  This property was sold in October 2010.

The Partnership's investments and approximate ownership percentage in the Joint Venture as of December 31, 2013 and 2012 are summarized below:

	2013			2012
	Amount		Percentage	Amount		Percentage
Fund VIII-IX Associates	$	—	45.2%	$	4,109,865	45.2%

Summary of Activity

Rollforwards of the Partnership's investment in the Joint Ventures for the years ended December 31, 2013 and 2012 are presented below:

	2013			2012
Investment in Joint Ventures, beginning of year	$	4,109,865		$	4,239,485
Equity in income of Joint Ventures	1,742,998			154,327
Contributions to Joint Ventures	368,065			—
Distributions from Joint Ventures	(6,220,928		)	(283,947		)
Investment in Joint Ventures, end of year	$	—		$	4,109,865

Schedule of Financial Information for Joint Ventures

Condensed financial information for the Joint Ventures in which the Partnership held an interest as of December 31, 2013 and 2012, and for the years ended December 31, 2013, 2012, and 2011 is presented below:

	Total Assets				Total Liabilities				Total Equity
	December 31,				December 31,				December 31,
	2013		2012		2013		2012		2013		2012
Fund VIII-IX Associates	$	—	$	9,456,156	$	—	$	364,178	$	—	$	9,091,978

	Total Revenues						Loss From Continuing Operations									Income From Discontinued Operations						Net Income
	For Years Ended						For Years Ended									For Years Ended						For Years Ended
	December 31,						December 31,									December 31,						December 31,
	2013		2012		2011		2013			2012			2011			2013		2012		2011		2013		2012		2011
Fund VIII-IX Associates	$	—	$	—	$	—	$	(38,384	)	$	(27,758	)	$	(25,124	)	$	3,894,293	$	369,164	$	487,293	$	3,855,909	$	341,406	$	462,169
Fund IX-X-XI-REIT Associates	—		—		—		—			—			(24,668		)	—		—		1,335,377		—		—		1,310,709
	$	—	$	—	$	—	$	(38,384	)	$	(27,758	)	$	(49,792	)	$	3,894,293	$	369,164	$	1,822,670	$	3,855,909	$	341,406	$	1,772,878

Components of income from discontinued operations recognized

The components of income from discontinued operations recognized by the Joint Ventures are provided below:

	December 31, 2013							December 31, 2012						December 31, 2011
	Operating Loss			Gain on Sale		Total		Operating Income		Gain on Sale		Total		Operating Income		Gain on Sale		Total
Fund VIII-IX Associates	$	(411,768	)	$	4,306,061	$	3,894,293	$	369,164	$	—	$	369,164	$	487,293	$	—	$	487,293
Fund IX-X-XI-REIT Associates	—			—		—		—		—		—		108,434		1,226,943		1,335,377
	$	(411,768	)	$	4,306,061	$	3,894,293	$	369,164	$	—	$	369,164	$	595,727	$	1,226,943	$	1,822,670