UNITED STATES
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) | October 27, 2014 |
Wells Mid-Horizon Value-Added Fund I, LLC
(Exact Name of Registrant as Specified in Charter)
Georgia | 000-53626 | 20-3192853 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
6200 The Corners Parkway, Norcross, Georgia | 30092-3365 |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code: (770) 449-7800
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement
Execution of a Purchase and Sale Agreement
On October 27, 2014, Wells Mid-Horizon Value-Added Fund I, LLC (the “Registrant”) entered into an agreement to sell a five-story office building containing approximately 184,000 square feet and located in Plymouth, Minnesota (the “Nathan Lane Building”) to Interstate Partners II, LLC, an unaffiliated third party, for a gross sales price of $15,500,000, exclusive of closing costs. The agreement is subject to a 28-day due diligence period. An initial earnest money deposit of $100,000 is due from Interstate Partners II, LLC within three business days and an additional earnest money deposit of $1,000,000 is due prior to the end of the due diligence period. All earnest money will become non-refundable upon the expiration of the due diligence period. The Registrant expects the closing of this transaction to occur during the fourth quarter of 2014; however, there are no assurances regarding when or if this sale will be completed.
SIGNATURE
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 MID-HORIZON VALUE-ADDED FUND I, LLC (Registrant) | ||
By: | WELLS INVESTMENT MANAGEMENT COMPANY, LLC (Manager) | |
October 31, 2014 | /s/ RANDY A. SIMMONS | |
Randy A. Simmons Principal Financial Officer of Wells Investment Management Company, LLC | ||