WELLS REAL ESTATE FUND XII LP

CIK:0001072805|SEC Filings

Statements of Operations (USD $)	3 Months Ended		9 Months Ended
Statements of Operations (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Equity in Income (Loss) of Joint Ventures	$ 126,408	$ 269,678	$ (38,346)	$ 835,588
General and Administrative Expenses	40,276	77,352	166,787	193,773
Interest and Other Income	2,659	0	2,659	0
Gain on Sale of Interests in Joint Ventures	421,374	0	421,374	0
Net Income	510,165	192,326	218,900	641,815
Cash Preferred Limited Partners
Net Income			(200,449)
Net Income (Loss) Allocated to:
Net Income (Loss) Allocated to Limited Partners	87,903	190,403	(200,449)	635,397
Net Income (Loss) per Weighted-Average Limited Partner Unit:
Net Income (Loss) per Weighted-Average Limited Partnership Unit (in dollars per unit)	0.03	0.06	(0.07)	0.21
Weighted-Average Limited Partner Units Outstanding:
Weighted-Average Limited Partner Units Outstanding (in units)	3,044,188	3,044,188	3,044,188	3,044,188
Tax Preferred Limited Partners
Net Income			421,374
Net Income (Loss) Allocated to:
Net Income (Loss) Allocated to Limited Partners	421,374	0	421,374	0
Net Income (Loss) per Weighted-Average Limited Partner Unit:
Net Income (Loss) per Weighted-Average Limited Partnership Unit (in dollars per unit)	0.82	0.00	0.82	0.00
Weighted-Average Limited Partner Units Outstanding:
Weighted-Average Limited Partner Units Outstanding (in units)	516,931	516,931	516,931	516,931
General Partners
Net Income			(2,025)
Net Income (Loss) Allocated to:
General Partners	$ 888	$ 1,923	$ (2,025)	$ 6,418

Statements of Cash Flows (USD $)	9 Months Ended
Statements of Cash Flows (USD $)	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities:
Net income	$ 218,900	$ 641,815
Operating distributions received from joint ventures	1,311,465	1,172,809
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in (income) loss of joint ventures	38,346	(835,588)
Gain on Sale of Interest in Joint Venture	(421,374)	0
Changes in assets and liabilities:
Increase in other assets	(19,331)	(7,500)
Decrease in accounts payable and accrued expenses	(7,321)	(17,974)
(Decrease) increase in due to affiliates	(4,029)	1,295
Net cash provided by operating activities	1,116,656	954,857
Cash Flows from Investing Activities:
Investment in joint ventures	(246,969)	0
Net sale proceeds received from disposition of joint venture	13,410,963	0
Net cash provided by investing activities	13,163,994	0
Cash Flows from Financing Activities:
Operating distributions paid to limited partners	0	(150,615)
Net Increase in Cash and Cash Equivalents	14,280,650	804,242
Cash and Cash Equivalents, beginning of period	1,750,838	650,690
Cash and Cash Equivalents, end of period	$ 16,031,488	$ 1,454,932

Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets:
Investment in joint ventures	$ 0	$ 13,713,800
Cash and cash equivalents	16,031,488	1,750,838
Due from joint ventures	0	378,631
Other assets	35,601	16,270
Total assets	16,067,089	15,859,539
Liabilities:
Accounts payable and accrued expenses	3,551	10,872
Due to affiliates	4,131	8,160
Total liabilities	7,682	19,032
Commitments and Contingencies
Partners' Capital:
Total partners’ capital	16,059,407	15,840,507
Total liabilities and partners’ capital	16,067,089	15,859,539
Cash Preferred Limited Partners
Partners' Capital:
Limited Partners	15,631,009	15,831,458
Total partners’ capital	15,631,009	15,831,458
Tax Preferred Limited Partners
Partners' Capital:
Limited Partners	421,374	0
Total partners’ capital	421,374	0
General Partners
Partners' Capital:
General Partners	7,024	9,049
Total partners’ capital	$ 7,024	$ 9,049