Piedmont Office Realty Trust was incorporated as Wells Real Estate Investment Trust, Inc. in Maryland on July 3, 1997 and commenced active operations on June 5, 1998. Piedmont Office Realty Trust went on to successfully raise approximately $5.2 billion in gross offering proceeds as a public nontraded REIT. These proceeds were used as equity capital to build the portfolio that exists today.

Since its formation in 1997, Piedmont Office Realty Trust has been governed by standard SEC rules and regulations.

The following is a timeline of key events in Piedmont Office Realty Trust’s history.

1997      Piedmont was incorporated in Maryland on July 3, 1997.

1998      Piedmont commenced active operations on June 5, 1998 (originally known as Wells Real Estate Investment Trust, Inc.).  Since our formation in 1997, we have raised equity capital to finance our real estate investment activities, primarily through four public offerings of our common stock, which, together with our dividend reinvestment plan, raised an aggregate of approximately $5.8 billion in gross offering proceeds. We are a public company, and have been subject to SEC reporting obligations since 1998.

2003      Closed to new investors in late 2003.

2005      Portfolio of 27 properties sold in April 2005 in one of the largest transactions in non-traded REIT history realizing a gain of approximately $189.5 million and resulting in a distribution of approximately $748.5 million to stockholders as a special dividend.  The sale repositioned the portfolio geographically by exiting 12 smaller markets, improved its credit profile, and enhanced the overall quality of the portfolio, all without negatively impacting the overall targeted return on equity for the broader portfolio.

2007      Internalized real estate management and advisory functions in April 2007.

2007      Received investment grade credit ratings (BBB from S&P and Baa3 from Moody’s) in July 2007.

2007      Originated $500 million unsecured line of credit in August 2007.

2008      Originated $250 million unsecured term loan in June 2008.

2010      Shareholder recapitalization effecting reverse stock split in January 2010.

2010      Piedmont Office Realty Trust stock began trading on the New York Stock Exchange under the ticker symbol "PDM” on February 10, 2010.

2010     Moody’s upgraded Piedmont’s credit rating to Baa2 in April 2010.