Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  WELLS LEO F III
 2. Date of Event Requiring Statement (Month/Day/Year)
04/09/2008		 3. Issuer Name and Ticker or Trading Symbol
Wells Timberland REIT, Inc. [N/A]
(Last)
(First)
(Middle)
6200 THE CORNERS PARKWAY		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
 5. If Amendment, Date Original Filed(Month/Day/Year)
04/09/2008
(Street)

NORCROSS, GA 30092		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 20,000 (1)
I
By Wells TIMO
Preferred Stock 32,128 (2)
I
By Wells REF

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
WELLS LEO F III
6200 THE CORNERS PARKWAY
NORCROSS, GA 30092		     X   President  

Signatures

Douglas P. Williams, Attorney-in-Fact 02/14/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities are owned directly by Wells Timberland Management Organization, LLC ("Wells TIMO"). They were originally issued to Wells Capital, Inc. on November 10, 2005 and subsequently transferred to Wells TIMO, a wholly-owned subsidiary of Wells Capital, Inc. on December 28, 2006. As the sole stockholder of Wells Real Estate Funds, Inc., or Wells REF, which owns Wells Capital, Inc. and Wells TIMO, the reporting person is deemed to be the beneficial owner of these securities
(2) These securities were issued to Wells REF on October 9, 2007. As the sole stockholder of Wells REF, the reporting person is deemed to be the beneficial owner these securities.
 
Remarks:
We are amending the Form 3 filed on April 9, 2008 to report the reporting person's indirect holdings of our securities. These indirect holdings were inadvertently omitted previously. After consideration of these indirect holdings, the reporting person is deemed to be a 10 percent owner of our securities.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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