This is neither an offer to sell nor a solicitation of an offer to buy Wells Timberland REIT, Inc.; an offering is made only by prospectus. This information must be preceded or accompanied by a prospectus in order to understand fully all of the implications and risks of the offering. Neither the Attorney General of the State of New York nor any other State regulators have passed on or endorsed the merits of the offering. Any representation to the contrary is a criminal offense.
As of March 31, 2013, the REIT’s total borrowings were approximately 45% of net assets.
This investment is not suitable for all investors. Please read the prospectus carefully for complete details and state suitability standards. Risks include:
For the year ended December 31, 2012, the REIT incurred an operating loss of approximately $3.7 million and generated cash from operations of approximately $11.4 million. The REIT also incurred a net loss of approximately $8.9 million, primarily as a result of incurring an operating loss and interest expense in connection with borrowings used to finance Mahrt Timberland. As of December 31, 2012, the REIT had an accumulated deficit of approximately $139.5 million as a result of net losses incurred since 2005.