Wells Real Estate Investment Trust, which recently bought the IBM campus in Littleton, reported a loss of $6.9 million for the three months ended June 30, compared to a $16.8 million profit during the same period last year.
In the first half of the year, the Georgia-based real estate investment trust lost $4.3 million, compared to a profit of $23.7 million in the first half of 2009.
The company reported $62.9 million in adjusted funds from operations (AFFO) for the three months ended June 30, compared to $65.4 million for the same period last year. For the six months ended June 30, the company reported $122.4 million in AFFO, compared to $126.8 million for the same period last year.
As of June 30, the company owned controlling interests in 68 office properties, one industrial property, and one hotel, for a total of 92 operational buildings. The properties include approximately 22.2 million square feet of commercial space and are located in 23 states, the District of Columbia and Moscow, Russia.
On April 1, the company purchased the 550 King Street Buildings in Littleton for $94 million, exclusive of closing costs. The buildings are leased to IBM for 10 years.





