Wells Fargo Trust to Sell Parts: Wells...

Wells Fargo Trust to Sell Parts: Wells Fargo Mortgage & Equity Trust has entered into an agreement to sell its assets and end operations. The plan calls for the trust’s real estate investments to be sold for $135 million to KW Partnership, an affiliate of Koll Co. The remaining portfolio of $308 million in construction loans will be sold to Wells Fargo & Co., the San Francisco banking company and parent of the trust’s adviser, Wells Fargo Realty Advisers. The price for the loans will be slightly above their book value. The trust estimates that its shareholders will receive a liquidation distribution of approximately $19.50 to $20.25 a share if the deal is approved at a special meeting in late June.