Leo Wells President - Wells Timberland Management

As of the Wells Timberland follow-on offering is not yet effective in Alabama, Maryland, Michigan, Ohio, or Tennessee.

Overview > Portfolio Management

Wells Timberland REIT is similar to most nontraded REIT programs early in their life cycles in that it does not have employees of its own. Instead, it contracts with a third-party advisor, Wells Timberland Management Organization, LLC (Wells TIMO), to make investment decisions and to manage its day-to-day operations. Wells TIMO is a professional timberland investment manager and subsidiary of Wells Real Estate Funds, a leader in real asset investment management.

Wells Timberland REIT is governed by a stockholder-elected board of directors that reviews the Advisor's recommendations and makes strategic decisions for Wells Timberland REIT and the offering program. The charter requires that a majority of these directors be independent. Wells Timberland REIT is currently served by six officers and four directors, four of whom are independent.

To learn more about the individual experience of Wells Timberland's officers and directors, please click on their names below.

Wells Timberland REIT, Inc.

Leo F. Wells III	President
Education B.B.A. in Economics from the University of Georgia Experience Leo F. Wells III is the Founder, President, and sole Director of Wells Real Estate Funds and serves as the President of Wells Timberland REIT, Inc. A 30-year veteran of the real estate brokerage, sales, and management industries, Mr. Wells founded Wells Real Estate Funds in 1984 and pioneered a disciplined real estate investment philosophy across a variety of innovative real estate investment opportunities. Under Mr. Wells' guidance, the company has experienced great growth. Since 1984, Wells Real Estate Funds has served more than 250,000 investors and managed over $12 billion in assets. Wells Real Estate Funds was the nation's largest purchaser of Class-A office properties in 2002 and the largest purchaser of commercial real estate in 2003, according to Real Capital Analytics. In 2009, the Atlanta Business Chronicle named Mr. Wells' company Atlanta's “Best Place to Work” among midsize companies. Recognized as an industry expert on real estate investment trusts (REITs), Mr. Wells is sought after by the media and industry speaking circuit. He has been a guest on ABC, CNBC, CBS “Market Watch,” and “Bloomberg Television.” His insights have been featured in numerous publications including Money, Investor's Business Daily, Pensions & Investments, Financial Planning, The New York Post, The Wall Street Journal, and The Wall Street Transcript. Mr. Wells has been honored for his contributions to his community and the real estate industry. He received the national Ernst & Young “Entrepreneur of the Year” Award in the financial services category (2003), was nominated for the Turknett Leadership Character Award (2005), and the Distinguished Alumni Award from the University of Georgia's Terry College of Business (2006). In 2009, Mr. Wells was elected to the Board of Governors for the National Association of Real Estate Investment Trusts (NAREIT) and was inducted into the Hall of Distinction at Georgia State University by the Southeastern Chapter of the Real Estate Investment Advisory Council (REIAC). In his spare time, Mr. Wells enjoys travel on international mission trips and with the National Geographic Society, as well as photography, bridge, and golf. He is an active supporter of the Fellowship of Christian Athletes at the University of Georgia and other schools, and is a staunch supporter of UGA athletics.
Douglas P. Williams	Executive Vice President, Secretary, and Treasurer
Education B.A. in Fine Arts from Dartmouth College; M.B.A. in Accounting and Finance Mr. Williams is a member of the American Institute of Certified Public Accountants (AICPA) and the Georgia Society of Certified Public Accountants and is licensed with FINRA as a Financial and Operations Principal (Series 27 and 63). Experience Doug Williams serves as the executive vice president, secretary and treasurer of Wells Timberland REIT, Inc. He also is senior vice president, office of the president, for Wells Real Estate Funds. From 1996 to 1999, Mr. Williams served as vice president and controller of OneSource, Inc., a leading supplier of janitorial and landscape services, where he was responsible for corporate-wide accounting activities and financial analysis. From 1982 to 1995, Mr. Williams was employed by ECC International, Inc., a supplier to the paper industry and to the paint, rubber, and plastic industries. While at ECC, Mr. Williams served in a number of key accounting positions, including: corporate accounting manager, U.S. Operations; division controller, Americas Region; and corporate controller, America/Pacific Division. Prior to joining ECC and for one year after leaving ECC, Mr. Williams was employed by Lithonia Lighting, a manufacturer of lighting fixtures, as a cost and general accounting manager and director of planning and control. Mr. Williams started his professional career as an auditor for a predecessor firm of KPMG LLP.
Randall D. Fretz	Senior Vice President
Education B.A. and B.P.E. degrees from McMaster University, Hamilton, Ontario; M.B.A. from the Ivey School of Business in London, Ontario Experience Randy Fretz serves as senior vice president of Wells Timberland REIT, Inc. Mr. Fretz also is chief of staff for Wells Real Estate Funds. He is responsible for crafting corporate strategy, business planning, and leading the Wells executive management team to achieve the company's goals and fulfill its mission. Mr. Fretz has more than 20 years of experience in corporate operations with a strong track record in executive leadership, management consulting, and team development. Before joining Wells, he served as president — North America for Larson-Juhl, a world leader in custom art and picture-framing home decor. He led the business to unprecedented levels of profitability, sales, and service until the company's successful sale to Berkshire Hathaway in late 2001. Mr. Fretz was previously a division director for several business units at Bausch & Lomb. In that role, he created new business strategies and restructured the divisions to grow sales, increase effectiveness, and maximize their profitability. He also held senior posts at Tandem International and Lever Brothers.
Jess E. Jarratt	Director
Education B.S. in Forestry from Texas A&M University; M.B.A. from the University of North Texas Mr. Jarratt is a Certified Management Accountant (CMA) and he has completed the Harvard Business School Executive Agribusiness Program. He is a member of the Institute of Management Accounting. Experience Since March 2007, Jess Jarratt has served as senior vice president of Wells Capital, Inc., and president of Wells Timberland Management Organization, LLC. Mr. Jarratt was appointed to the board of directors of Wells Timberland REIT, Inc., on June 22, 2007. Mr. Jarratt is responsible for overseeing all aspects of timberland operations for Wells including timberland acquisitions and dispositions, portfolio and property management, and timberland financing. From July 1995 to February 2007, Mr. Jarratt helped to originate and structure many large real estate and banking transactions for SunTrust Banks, Inc., holding positions as managing director of SunTrust Robinson Humphrey's Structured Real Estate Group, managing director for SunTrust Robinson Humphrey's Capital Markets Origination group, and group vice president of SunTrust's AgriFood Group, which he founded. From 1988 through July 1995, Mr. Jarratt was vice president of Rabobank International, a multinational Dutch bank where he led corporate lending activities to U.S. agribusiness companies and timberland and forest products companies. Prior to this, Mr. Jarratt served as one of the original foresters for a predecessor entity to Hancock Timber Resource Group, one of the largest institutional managers of timber in the world. There he purchased and managed one of the fund's first investments in timberland, also helping to develop financial analysis for the company's timberland purchases. Early in his career, Mr. Jarratt served as a procurement forester with the Kirby Lumber Company, managing raw timber purchases and various dealer and supplier relationships, cruising prospective timber acquisitions, and negotiating purchase prices with landowners. He also worked as a timberland purchase forester responsible for building a paper mill land base, and began his career as a forester with the Texas Forest Service in August 1979, working with private landowners to develop and implement forest management plans.
E. Nelson Mills	Director
Education B.S. in Business Administration from the University of Tennessee, M.B.A. from the University of Georgia Mr. Mills also is a Certified Public Accountant (CPA). Experience Nelson Mills is a director on the board of directors for Wells Timberland REIT, Inc. He is also a Senior Vice-President for Wells Capital. Since 2007, Mr. Mills has served as a director of Wells REIT II. Prior to its dissolution in March 2008, Mr. Mills served as a director of the Institutional REIT. From January 2005 to December 2009, Mr. Mills served as the president and chief operating officer of Williams Realty Advisors, LLC, where he was responsible for investment and financial strategy and was in charge of the design, formation, and operation of a series of real estate investment funds. Prior to joining Williams in December 2004, Mr. Mills was a financial consultant to Timbervest, LLC, an investment manager specializing in timberland investments. From September 2000 to April 2004, Mr. Mills served as chief financial officer of Lend Lease Real Estate Investments (US), Inc., an investment manager specializing in the acquisition and management of commercial real estate. From August 1998 to August 2000, he served as a senior vice president of Lend Lease with responsibility for tax planning and administration and the supervision of various merger and acquisition activities. Prior to joining Lend Lease, Mr. Mills was a tax partner with KPMG LLP.
George W. Sands	Independent Director
Education B.A. in Business Administration from the University of Georgia Mr. Sands also is a retired Certified Public Accountant (CPA). Experience George W. Sands became a director on the board of directors for Wells Timberland REIT, Inc., in March 2010, bringing with him his extensive experience in accounting, auditing, and service as a director for other organizations. Mr. Sands retired in 2006 after a 36-year career with KPMG LLP and its predecessor firms, Peat Marwick Mitchell and Peat Marwick Main. From 1998 to 2006, Mr. Sands was the Southeast Area Managing Partner for KPMG's Audit and Advisory Practice. During his career, Mr. Sands served in several key positions, including Southeast Area Managing Partner of Manufacturing, Retailing, and Distribution; Atlanta Office Managing Partner; and Securities and Exchange Reviewing Partner. Mr. Sands was a member of the firm's National Audit Leadership Team and a Trustee on the KPMG Foundation Board of Directors. Mr. Sands served as the audit engagement partner or client service partner for a wide variety of clients, including multi-national companies such as The Home Depot, AGCO Corporation, Mohawk Industries, Mirant Corporation, and John Portman & Associates. Prior to joining KPMG LLP in 1970, Mr. Sands served as an officer in the United States Army, which included a tour of duty in the Republic of South Vietnam. Mr. Sands currently serves on the Board of Directors of The Atlanta Convention and Visitors Bureau and the Advisory Board of The Atlanta Alliance on Developmental Disabilities, and he is Treasurer of the Rotary Club of Atlanta. He has previously served as a board member for the Metro Atlanta Chamber of Commerce, the Georgia Chamber of Commerce, and the One Ninety One Club, and he also is a past member of the School of Accounting Advisory Council at The University of Georgia.
Donald S. Moss	Independent Director
Education Majored in Business at the University of Illinois Experience Don Moss is an independent director on the board of directors for Wells Timberland REIT, Inc. He also is a trustee of the Wells Family of Real Estate Funds. Mr. Moss was employed by Avon Products, Inc. from 1957 until his retirement in 1986. While at Avon, he served in a number of key positions, including: vice president and controller from 1973 to 1976; group vice president of operations, worldwide, from 1976 to 1979; group vice president of sales, worldwide, from 1979 to 1980; senior vice president, international, from 1980 to 1983; and group vice president, human resources and administration, from 1983 until his retirement in 1986. Mr. Moss was also a member of the board of directors of Avon Canada, Avon Japan, Avon Thailand, and Avon Malaysia from 1980 to1983. Mr. Moss is a past president and former director of the Atlanta Athletic Club and also is a former director of the Highlands Country Club in Highlands, North Carolina. He was the national treasurer and a director of the Girls Club of America from 1973 to 1976.
Willis J. Potts, Jr.	Independent Director
Education B.S. in Industrial Engineering from the Georgia Institute of Technology Mr. Potts also completed the Executive Program at the University of Virginia. Experience Willis Potts is an independent director on the board of directors for Wells Timberland REIT, Inc. From June 1999 until his retirement in June 2004, Mr. Potts served as vice president and general manager of Temple-Inland Inc., a major forest products corporation, where he was responsible for all aspects of the management of a major production facility, including timber acquisition, community relations, and governmental affairs. From November 1994 to June 1999, Mr. Potts was senior vice president of Union Camp Corporation, a private timberland owner and pulp and paper company that has since been acquired by International Paper. As senior vice president, he was responsible for all activities of an international business unit, with revenues of approximately $1 billion per year, including supervision of acquisitions and dispositions of timber and timberland, controllership functions, and manufacturing. Mr. Potts is the past chairman of the board of directors of the Technical Association of the Pulp and Paper Industry (TAPPI), the largest technical association serving the pulp, paper, and converting industry. In 2006, Mr. Potts was appointed to the Board of Regents of the University System of Georgia. Mr. Potts also serves as a director of J&J Industries, a privately held carpet manufacturing company.
Michael P. McCollum	Independent Director
Education B.S. in Forestry from the University of Arkansas; Ph.D. in Forest Science from Texas A&M University Experience Dr. Michael McCollum is an independent director on the board of directors for Wells Timberland REIT, Inc. Dr. McCollum has worked in the forest products industry for the past 25 years. From June 1996 until his retirement in December 2005, Dr. McCollum led the Wood and Fiber Supply Division of Georgia-Pacific Corporation, one of the world’s leading manufacturers and distributors of tissue, pulp, paper, packaging, building products, and related chemicals, and in January 2001, he became president of the division. From July 1992 to June 1996, Dr. McCollum served in positions of increasing responsibility at Georgia-Pacific in the areas of forest management, wood and fiber supply, technical support, and strategic planning. From February 1984 to July 1992, Dr. McCollum served in various positions at Temple-Inland Inc., a major forest products corporation. From January 1981 to February 1984, Dr. McCollum worked in the Wood Products Division of Manville Forest Products Corporation, a subsidiary of Johns Manville, a Berkshire Hathaway company and a leading manufacturer and marketer of premium quality building and specialty products. Dr. McCollum is a member of the Society of American Foresters and has served on the boards of several industry and conservation associations.

Wells Timberland Management Organization, LLC (Wells TIMO)

Jess E. Jarratt	President
Education B.S. in Forestry from Texas A&M University; M.B.A. from the University of North Texas Mr. Jarratt is a Certified Management Accountant (CMA) and he has completed the Harvard Business School Executive Agribusiness Program. He is a member of the Institute of Management Accounting. Experience Since March 2007, Jess Jarratt has served as senior vice president of Wells Capital, Inc., and president of Wells Timberland Management Organization, LLC. Mr. Jarratt was appointed to the board of directors of Wells Timberland REIT, Inc., on June 22, 2007. Mr. Jarratt is responsible for overseeing all aspects of timberland operations for Wells including timberland acquisitions and dispositions, portfolio and property management, and timberland financing. From July 1995 to February 2007, Mr. Jarratt helped to originate and structure many large real estate and banking transactions for SunTrust Banks, Inc., holding positions as managing director of SunTrust Robinson Humphrey's Structured Real Estate Group, managing director for SunTrust Robinson Humphrey's Capital Markets Origination group, and group vice president of SunTrust's AgriFood Group, which he founded. From 1988 through July 1995, Mr. Jarratt was vice president of Rabobank International, a multinational Dutch bank where he led corporate lending activities to U.S. agribusiness companies and timberland and forest products companies. Prior to this, Mr. Jarratt served as one of the original foresters for a predecessor entity to Hancock Timber Resource Group, one of the largest institutional managers of timber in the world. There he purchased and managed one of the fund's first investments in timberland, also helping to develop financial analysis for the company's timberland purchases. Early in his career, Mr. Jarratt served as a procurement forester with the Kirby Lumber Company, managing raw timber purchases and various dealer and supplier relationships, cruising prospective timber acquisitions, and negotiating purchase prices with landowners. He also worked as a timberland purchase forester responsible for building a paper mill land base, and began his career as a forester with the Texas Forest Service in August 1979, working with private landowners to develop and implement forest management plans.
Brian M. Davis	Senior Vice President and Chief Financial Officer, Finance and Administration
Education B.B.A. and M.B.A. from Ohio University Experience Brian Davis is Senior Vice President and Chief Financial Officer for Wells Timberland Management Organization (Wells TIMO). He is responsible for all financial and accounting management for Wells TIMO as well as the overall coordination of the company’s financial, accounting, and treasury systems and functions. An integral member of the TIMO’s senior executive and acquisition teams, Mr. Davis serves as the company’s Chief Compliance Officer for all securities industry regulatory purposes. In addition, he oversees all banking and financing relationships, including liaison with Broker/Dealer compliance officers. Mr. Davis is a 15-year veteran of the corporate banking industry, with experience in acquisitions, asset management, dispositions, financial analysis, and underwriting. Prior to joining Wells Timberland in 2007, Mr. Davis was a Director at SunTrust Bank. He held increasing responsibilities during his time there, culminating in the oversight of a $3 billion corporate debt portfolio. Mr. Davis also has served as a Capital Markets Officer for CoBank, ACB. There, he was responsible for the structuring and distribution of over $1.6 billion of debt capital market products, as well as the delivery of sophisticated risk management tools for corporate clients. In all, Mr. Davis has overseen and/or participated in financing transactions totaling over $5 billion during his career.
Troy A. Harris	Vice President, Timberland Acquisitions/Operations
Education B.S. in Forestry from Auburn University; M.B.A. from the University of Georgia Experience Troy Harris joined Wells Timberland Management Organization, LLC (Wells TIMO) as vice president of timberland acquisitions in 2007. In this capacity, he is responsible for directing property acquisitions for Wells Timberland REIT, Inc. Prior to joining Wells, Mr. Harris was director of land acquisitions for Danzer Forestland, Inc., responsible for that group's timberland acquisition activities, identifying and evaluating significant high-quality hardwood timberland properties with potential for long-term sustainable management. Mr. Harris previously held positions with TimberVest, as director of portfolio analysis and investment manager, and with Union Camp and International Paper, as a land manager, procurement forester, and senior timberland auditor. Mr. Harris serves on the board of directors of the Forest Landowners Association and chairs its TIMO/REIT Task Force. He is a Registered Forester, a Certified Forester, and a member of the Society of American Foresters, where he recently served as the president of the Chattahoochee Chapter.
John C. Iverson	Vice President and Controller
Education B.B.A. in Accounting from Augusta State University Experience John Iverson joined Wells Timberland Management Organization, LLC (Wells TIMO) as vice president and controller in 2007. Mr. Iverson is responsible for timber and general accounting, all period financial reporting, SEC reporting, internal controls and compliance, and is the principal contact for internal and external auditors. From 1972 until joining Wells TIMO in 2007, Mr. Iverson was the controller of financial reporting for Georgia-Pacific Corporation's Wood & Fiber Procurement Division. At Georgia-Pacific, Mr. Iverson was responsible for establishing and tracking the financial, tax, and real estate bases for Georgia-Pacific's nearly 6 million acres of timberland assets. Mr. Iverson also served as chairman of the board of directors of Georgia-Pacific's newly chartered GPC Credit Association. During his tenure, the GPC Credit Association grew to more than $30 million in assets. From 1966 to 1970, Mr. Iverson served in the submarine service of the U.S. Navy.
Don L. Warden	Director of Operations
Education B.A. in Political Science from Southern Illinois University; M.B.A. from Mercer University Experience Don Warden joined the Wells Timberland Management Organization, LLC (Wells TIMO) as director of operations in 2007. Mr. Warden is responsible for the operations of the Wells TIMO, including directing the closings for acquisition, disposition, and finance transactions; coordinating board and corporate reporting efforts; and managing Higher-and-Better-Use (HBU) initiatives and transactions. Prior to joining the Wells TIMO, Mr. Warden served as director of operations for the Capital Markets Department of Wells Real Estate Funds. In this capacity, Mr. Warden directed the closings for approximately $2 billion in commercial real estate transactions. Mr. Warden previously held positions with Mirant, as senior business analyst, and with Accenture as a consultant. From 1994 to 1998, Mr. Warden served as an infantry and signal officer in the U.S. Army.

DISCLOSURES

Click here to view SEC filings for up-to-the-minute updates to the Wells Timberland portfolio. Click here to view a PDF of the prospectus. Click here to view a risk factor disclosure.

Wells Timberland REIT, Inc. has a limited operating history and to date has made only one acquisition, Mahrt Timberland, a collection of timberlands in Georgia and Alabama. Wells Timberland REIT, Inc. may not achieve the level of diversification described in the prospectus.

As of March 24, 2010, Wells Timberland's total borrowings were approximately 114% of net assets and 50% of the cost of the timber assets before adjustments for depletion and amortization. Wells Timberland is prohibited from making discretionary distributions or redeeming shares under its share redemption program (except for qualified disabilities and death) until certain loans and financial targets are satisfied.

This material contains forward-looking statements, which generally can be identified by our use of words such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Factors that could cause actual results to vary materially from those expressed in forward-looking statements include fluctuations in interest rates, demand risks, and lack of availability of financing.

Wells Timberland REIT, Inc. is sponsored by Wells Real Estate Funds, Inc. Wells Real Estate Funds, Inc. is affiliated with Wells Investment Securities, Inc. – Distributor – Member FINRA/SIPC.