##### Table of Contents

---




SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





---




FORM 10-Q





(Mark One)


|x |  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- |  | ---------------------------------------------------------------------------------------




For the quarterly period ended June 30, 2002





OR





| ̈ |  | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- |  | ----------------------------------------------------------------------------------------




For the transition period from
 to





Commission file number 0-25606





---




WELLS REAL ESTATE FUND IX, L.P.


(Exact name of registrant as specified in its charter)





Georgia

58-2126622(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification Number)





6200 The Corners Pkwy., Norcross, Georgia

30092(Address of principal executive offices)

(Zip Code)





Registrants telephone number, including area code (770) 449-7800





(Former name, former address, and former fiscal year, if changed since last report)





---




Indicate by check mark whether the registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  x  No  ̈





---



---

##### Table of Contents




FORM 10-Q





WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





INDEX





Page No.PART I.    
FINANCIAL INFORMATIONItem 1.

Financial Statements

3Balance SheetsJune 30, 2002 (unaudited) and December 31, 2001

4Statements of Income for the Three Months and Six Months Ended June 30, 2002 (unaudited) and 2001 (unaudited)

5Statements of Partners Capital for the Year Ended December 31, 2001 and the Six Months Ended June 30, 2002 (unaudited)

6Statements of Cash Flows for the Six Months Ended June 30, 2002 (unaudited) and 2001 (unaudited)

7Condensed Notes to Financial Statements (unaudited)

8Item 2.

Managements Discussion and Analysis of Financial Condition and Results of Operations

12PART II.    
OTHER INFORMATION

15Exhibit Index

16Exhibit 99.1Certification of Chief Executive OfficerExhibit 99.2Certification of Chief Financial Officer




2




---

##### Table of Contents




PART I.    
FINANCIAL INFORMATION





Effective July 3, 2002, Wells Real Estate Fund IX (the
Partnership) engaged Ernst & Young LLP (Ernst & Young) as its principal accountants to audit the Partnerships financial statements. In accordance with the relief granted to former auditing clients of Arthur
Andersen LLP in SEC Release No. 34-45589, Ernst & Young completed its review of the unaudited financial statements of the Partnership for the quarter ended March 31, 2002 pursuant to Rule 10-01(d) of Regulation S-X within the 60-day period
allowed pursuant to the SEC Release, and no material modifications to the previously reported financial information were required.




3




---

##### Table of Contents




WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





BALANCE SHEETS





(unaudited)June 30, 2002

December 31, 2001ASSETS:Investments in joint ventures (Note 2)

$
24,422,787

$
24,980,158Cash and Cash equivalents


50,861


95,263Due from affiliates


678,437


792,318Deferred project costs


3,720


3,720Total assets

$
25,155,805

$
25,871,459LIABILITIES AND PARTNERS CAPITALLiabilities:Accounts payable

$
1,936

$
4,726Partnership distributions payable


688,710


744,902Total liabilities


690,646


749,628Partners capital:Limited partners:Class A3,148,383 units and 3,136,429 units outstanding as of June 30, 2002 and December 31, 2001,
respectively


24,465,159


25,121,831Class B351,617 units and 363,571 units outstanding as of June 30, 2002 and December 31, 2001,
respectively


0


0Total partners capital


24,465,159


25,121,831Total liabilities and partners capital

$
25,155,805

$
25,871,459





The accompanying notes are an integral part of these balance sheets.




4




---

##### Table of Contents




WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





STATEMENTS OF INCOME





(unaudited)

(unaudited)Three Months Ended

Six Months EndedJune 30, 2002

June 30, 2001

June 30, 2002

June 30, 2001REVENUES:Equity in income of joint ventures (Note 2)

$
418,588

$
483,160

$
805,461

$
899,543Interest income


312


0


1,588


2,086418,900


483,160


807,049


901,629EXPENSES:Partnership administration


40,700


23,053


53,908


33,616Legal and accounting fees


2,938


2,915


10,646


11,630Computer costs


1,777


4,307


3,971


5,50845,415


30,275


68,525


50,754NET INCOME

$
373,485

$
452,885

$
738,524

$
850,875NET INCOME ALLOCATED TO CLASS A LIMITED PARTNERS

$
373,485

$
452,885

$
738,524

$
850,875NET LOSS ALLOCATED TO CLASS B LIMITED PARTNERS

$
0

$
0

$
0

$
0NET INCOME PER WEIGHTED AVERAGE CLASS A LIMITED PARTNER UNIT

$
0.12

$
0.15

$
0.24

$
0.27NET LOSS PER WEIGHTED AVERAGE CLASS B LIMITED PARTNER UNIT

$
0.00

$
0.00

$
0.00

$
0.00CASH DISTRIBUTION PER WEIGHTED AVERAGE CLASS A LIMITED PARTNER UNIT

$
0.22

$
0.24

$
0.44

$
0.46





The accompanying notes are an integral part of these statements.




5




---

##### Table of Contents




WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





STATEMENTS OF PARTNERS CAPITAL





FOR THE YEAR ENDED DECEMBER 31, 2001 AND





SIX MONTHS ENDED JUNE 30, 2002 (UNAUDITED)





Limited Partners

Total Partners CapitalClass A


Class BUnits

Amount


Units


AmountBALANCE, December 31, 2000

3,110,159

$
26,276,464


389,841


$
0

$
26,276,464Net income

0


1,768,474


0



0


1,768,474Partnership distributions

0


(2,923,107
)

0



0


(2,923,107
)Class B conversion elections

26,270


0


(26,270
)


0


0BALANCE, December 31, 2001

3,136,429


25,121,831


363,571



0


25,121,831Net income

0


738,524


0



0


738,524Partnership distributions

0


(1,395,196
)

0



0


(1,395,196
)Class B conversion elections

11,954


0


(11,954
)


0


0BALANCE, June 30, 2002 (unaudited)

3,148,383

$
24,465,159


351,617


$
0

$
24,465,159





The accompanying notes are an integral part of these statements.




6




---

##### Table of Contents




WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





STATEMENTS OF CASH FLOWS





(unaudited)Six Months EndedJune 30, 2002


June 30, 2001CASH FLOW FROM OPERATING ACTIVITIES:Net income

$
738,524


$
850,875Adjustments to reconcile net income to net cash used in operating activities:Equity in income of joint venture


(805,461
)


(899,543
)Changes in assets and liabilities:Prepaid expenses and other assets


0



(14,192
)Accounts receivable


0



(92
)Accounts payable


(2,790
)


(5,853
)Net cash used in operating activities


(69,727
)


(68,805
)CASH FLOW FROM INVESTING ACTIVITIES:Distributions received from joint ventures


1,476,713



1,425,005CASH FLOW FROM FINANCING ACTIVITIES:Distributions to partners


(1,451,388
)


(1,419,156
)NET DECREASE IN CASH AND CASH EQUIVALENTS


(44,402
)


(62,956
)CASH AND CASH EQUIVALENTS, beginning of year


95,263



115,337CASH AND CASH EQUIVALENTS, end of period

$
50,861


$
52,381





The accompanying notes are an integral part of these statements.




7




---

##### Table of Contents




WELLS REAL ESTATE FUND IX, L.P.


(A Georgia Public Limited Partnership)





CONDENSED NOTES TO FINANCIAL STATEMENT





June 30, 2002


(Unaudited)





1.    SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES





(a)  Organization and Business





Wells Real Estate Fund IX, L.P. (the Partnership) is a Georgia public limited partnership with Leo F. Wells, III and Wells
Partners, L.P. (Wells Partners), a Georgia nonpublic limited partnership, serving as the General Partners. The Partnership was formed on August 15, 1994 for the purpose of acquiring, developing, constructing, owning, operating,
improving, leasing, and otherwise managing income-producing commercial properties for investment purposes. The Partnership has two classes of limited partnership interests, Class A and Class B units. Limited partners shall have the right to change
their prior elections to have some or all of their units treated as Class A or Class B units one time during each quarterly accounting period. Limited partners may vote to, among other things, (a) amend the partnership agreement, subject to certain
limitations, (b) change the business purpose or investment objectives of the Partnership, and (c) add or remove a general partner. A majority vote on any of the above described matters will bind the Partnership without the concurrence of the General
Partners. Each limited partnership unit has equal voting rights regardless of class.





On January 5, 1996, the
Partnership commenced a public offering of up to $35,000,000 of limited partnership units pursuant to a Registration Statement filed on Form S-11 filed under the Securities Act of 1933. The Partnership commenced active operations on February 12,
1996 upon receiving and accepting subscriptions for 125,000 units and collecting aggregate gross offering proceeds of $2,500,000, thus allowing for the admission of New York and Pennsylvania investors in the Partnership. The offering was terminated
on December 30, 1996 at which time the Partnership had sold approximately 2,935,931 Class A units and 564,069 Class B units held by a total of 1,841 and 257 Class A and Class B Limited Partners, respectively, for total limited partner capital
contributions of $35,000,000. After payments of $1,400,000 in acquisition and advisory fees and acquisition expenses and $5,254,700 in selling commissions and organization and offering expenses, an investment of $13,289,359 in Fund VIII and Fund IX
Associates and an investment of $14,982,434 in the Fund IX-X-XI-REIT Associates, the Partnership held net offering proceeds of $73,507 as of June 30, 2002, which is available for investment in properties.





(THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK)




8




---

##### Table of Contents




The Partnership owns interests in all of its real estate assets through joint
ventures with other Wells Real Estate Funds. As of June 30, 2002, the Partnership owned interests in the following 9 properties through the affiliated joint ventures listed below:





Joint Venture

Joint Venture Partners

PropertiesFund VIII-Fund IX Associates

Wells Real Estate Fund VIII, L.P. Wells Real Estate Fund IX, L.P.

1.  US Cellular Building A four-story office building located in Madison, Wisconsin 2.  AT&T-Texas Building A one-story office building in Farmers Branch, Texas 3.  Cirrus Logic Building A two-story office building in Boulder County, ColoradoFund VIII-IX-REIT Associates

Wells Real Estate Fund VIII, L.P. Wells Real Estate Fund IX, L.P. Wells Operating Partnership,
L.P.*

4.  Quest Building A two-story office building located in Irvine, CaliforniaFund IX-X-XI-REIT Associates

Wells Real Estate Fund IX, L.P. Wells Real Estate Fund X, L.P. Wells Real Estate Fund XI, L.P.
Wells Operating Partnership, L.P.*

5.  Alstom Power-Knoxville Building A three-story office building in Knoxville, Tennessee 6.  360 Interlocken Building
A three-story office building located in Boulder County, Colorado 7.  Avaya Building A one-story office building located in Oklahoma City, Oklahoma 8.  Iomega Building A single-story warehouse
and office building located in Ogden, Weber County, Utah 9.  Ohmeda Building A two-story office building located in Louisville, Boulder County, Colorado


|* |  | Wells Operating Partnership, L.P. is a Delaware limited partnership with Wells Real Estate Investment Trust, Inc. (Wells REIT) serving as its
general partner; Wells REIT is a Maryland corporation that qualifies as a real estate investment trust.
|- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




Each of the aforementioned properties was acquired on an all cash basis. For further information regarding the foregoing joint ventures and properties, refer to the report filed for the Partnership Form 10-K for the year ended
December 31, 2001.





(b)  Basis of Presentation





The financial statements of the Partnership have been prepared in accordance with the instructions for Form 10-Q and do not include all of the information and footnotes
required by generally accepted accounting principles (GAAP) for complete financial statements. The quarterly statements included herein have not been examined by independent accountants. However, in the opinion of the General Partners,
the statements for the unaudited interim periods presented include all adjustments that are of a normal and recurring nature and necessary to fairly present the results for these periods. Interim results for 2002 are not necessarily indicative of
results for the year. For further information, refer to the financial statements and footnotes included in the report filed for the Partnership on




9




---

##### Table of Contents

Form 10-K for the year ended December 31, 2001.





(c)  Distributions of Net Cash From Operations





As defined by the partnership
agreement, cash available for distributions is distributed quarterly on a cumulative non-compounded basis to the limited partners as follows:





| |  |  | First, to all Class A limited partners until such limited partners have received distributions equal to a 10% per annum return on their respective adjusted
capital contributions, as defined.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




| |  |  | Second, to the General Partners until each general partner has received distributions equal to 10% of the total distributions declared by the Partnership per
annum.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------




| |  |  | Third, to the Class A limited partners and the General Partners allocated on a basis of 90% and 10%, respectively.
| | - |  | ------------------------------------------------------------------------------------------------------------------




No distributions will be made to the limited partners holding Class B units.





(d)  Impairment of Real Estate Assets





On January 1, 2002, the Partnership adopted SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. Under the new guidance, management reviews each of the properties in which it holds an interest for impairment
when there is an event or change in circumstances that indicates the carrying amount of the asset may not be recoverable and the future undiscounted cash flows expected to be generated by the asset are less than its carrying amount. If such assets
are considered to be impaired, the Partnership records impairment losses and reduces the carrying amount of impaired assets to an amount that reflects the fair value of the assets at the time impairment is evident. Management also reviews estimated
selling prices of assets held for sale and records impairment losses to reduce the carrying amount of assets held for sale when the carrying amounts exceed the estimated selling prices less costs to sell. Also, material long-lived assets held for
sale are separately identified in the balance sheets and their related net operating income is segregated as income from discontinued operations in the statements of income. In addition, depreciation of long-lived assets held for sale is not
recorded. If an asset held for sale reverts to an asset used in operations, the asset will be measured at the lower of the original carrying cost, adjusted for the forgone depreciation, or the fair value at the date of the decision to hold the
asset.





2.    INVESTMENTS IN JOINT VENTURES





(a)  Basis of Presentation





The Partnership owned
interests in nine properties as of June 30, 2002 through its ownership in the joint ventures described in Note 1. The Partnership does not have control over the operations of these joint ventures; however, it does exercise significant influence.
Accordingly, investments in joint ventures are recorded using the equity method of accounting. For further information regarding investments in joint ventures, see the report filed for the Partnership on Form 10-K for the year ended December 31,
2001.




10




---

##### Table of Contents




(b)  Summary of Operations





The following information summarizes the operations of the unconsolidated joint ventures in which the Partnership held ownership interests for the three and six months
ended June 30, 2002 and 2001:





Total Revenues


Net Income

Partnerships Share of
Net IncomeThree Months Ended


Three Months Ended

Three Months EndedJune 30, 2002


June 30, 2001


June 30, 2002

June 30, 2001

June 30, 2002

June 30, 2001Fund IX-X-XI-REIT Associates

$
1,158,847


$
1,087,746


$
619,173

$
734,418

$
242,185

$
287,263Fund VIII-Fund IX Associates


738,047
*


751,518
*


390,244


433,370


176,403


195,897$
1,896,894


$
1,839,264


$
1,009,417

$
1,167,788

$
418,588

$
483,160


---

|* |  | The Partnerships share of income earned from its investment in Fund VIII-IX-REIT Associates is recorded by Fund VIII-IX Associates as equity in income of
joint ventures, which is classified as revenue
|- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




Total Revenues


Net Income

Partnerships Share of
Net IncomeSix Months Ended


Six Months Ended

Six Months EndedJune 30, 2002


June 30, 2001


June 30, 2002

June 30, 2001

June 30, 2002

June 30, 2001Fund IX-X-XI-REIT Associates

$
2,235,149


$
2,181,096


$
1,173,441

$
1,372,853

$
458,984

$
536,982Fund VIII-Fund IX Associates


1,498,875
*


1,465,949
*


766,487


802,069


346,477


362,561$
3,734,024


$
3,647,045


$
1,939,928

$
2,174,922

$
805,461

$
899,543





The following information summarizes the operations of the Fund
VIII-IX-REIT Associates in which the Partnership held an interest through its interest in Fund VIII-Fund IX Associates for the three and six months ended June 30, 2002 and 2001:





Total Revenues

Net Income

Partnerships Share of
Net IncomeThree Months Ended

Three Months Ended

Three Months EndedJune 30, 2002

June 30, 2001

June 30, 2002

June 30, 2001

June 30, 2002


June 30, 2001Fund VIII-IX-REIT Associates

$
302,623

$
313,539

$
147,999

$
155,320

$
56,343
*

$
59,130
*





Total Revenues

Net Income

Partnerships Share of
Net IncomeSix Months Ended

Six Months Ended

Six Months EndedJune 30, 2002

June 30, 2001

June 30, 2002

June 30, 2001

June 30, 2002


June 30, 2001Fund VIII-IX-REIT Associates

$
605,557

$
580,924

$
308,694

$
260,352

$
117,520
*

$
99,116
*


---

|* |  | The Partnerships share of income earned from its investment in Fund VIII-IX-REIT Associates is recorded by Fund VIII-IX Associates as equity in income of
joint ventures, which is classified as revenue
|- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



11




---

##### Table of Contents




Item 2.Managements Discussion and Analysis of Financial Conditions and Results of Operation.





The following discussion and analysis should be read in conjunction with the accompanying financial statements and notes thereto.





(a)  Forward-Looking Statements





This Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934, including discussion and analysis of the financial condition of
the Partnership, anticipated capital expenditures required to complete certain projects, amounts of cash distributions anticipated to be distributed to limited partners in the future and certain other matters. Readers of this Report should be aware
that there are various factors that may cause actual results to differ materially from any forward-looking statements made in this Report, including construction costs which may exceed estimates, construction delays, lease-up risks, inability to
obtain new tenants upon the expiration of existing leases, and the potential need to fund tenant improvements or other capital expenditures out of operating cash flows.





(b)  Results of Operations





Gross Revenues





Gross revenues decreased to $807,049 for the six months ended June 30, 2002 compared to $901,629 for the six
months ended June 30, 2001 primarily due to (i) decrease in common area maintenance adjustments recorded in the second quarter of 2002 related to 2001 reimbursement billings to tenants at the 360 Interlocken Building, Alstom Power-Knoxville
Building, and the US Cellular Building, partially offset by (i) increased rental renewal rates at the 360 Interlocken Building, (ii) increased common area maintenance reimbursement billings to tenants at the Quest Building. Tenants are billed for
common area maintenance reimbursements at estimated amounts, which are reconciled as tenants are billed (credited) for the net annual under (over) billings in the following year.





Expenses





Expenses increased
to $68,525 for 2002 compared to $50,754 for 2001 due to an increase in partnership administration expenses primarily as a result of Tennessee Partnership franchise and excise taxes assessed for 2001 and 2002 during the second quarter of 2002.





As a result, net income decreased to $738,524 for the six months ended June 30, 2002 from $850,875 for the six
months ended June 30, 2001.





Distributions





The Partnership declared cash distributions of investment income and a return of capital to Class A limited partners of $0.44 and $0.46 per unit for the six months ended
June 30, 2002 and 2001, respectively. The General Partners anticipate that distributions per unit to the Class A limited partners will continue in 2002 at a level at least comparable with 2001 cash distributions on an annual basis. No cash
distributions were made to the limited partners holding Class B units.





(c)  Liquidity and Capital Resources





Net cash used in operating activities remained relatively stable at $69,727 for the six months ended June 30,
2002 compared to $68,805 for the six months ended June 30, 2001. Net cash provided by investing activities increased to $1,476,713 for the six months ended June 30, 2002 from $1,425,005 for the six months ended June 30, 2001 due to a corresponding
increase in earnings generated from joint ventures during the fourth quarter of 2001 compared to the same period in 2000 (specifically related to a higher distribution rate announced for the fourth quarter 2001), thereby resulting in a greater
amount of distributions for the six months ended June 30, 2002; the Partnership receives




12




---

##### Table of Contents

distributions from joint ventures based on the earnings generated during the respective immediately preceding quarterly accounting periods. Net cash used in financing activities increased to
$1,451,388 for the six months ended June 30, 2002 compared to $1,419,156 for the same period in 2001 due to the corresponding increase in cash available for partnership distributions resulting from the increase in cash provided from investing
activities as described above.





The Partnership expects to continue to meet its short-term liquidity requirements
and budget demands generally through net cash provided by operations which the Partnership believes will continue to be adequate to meet both operating requirements and distributions to limited partners. Although there is no assurance, the General
Partners anticipate that cash distributions to Limited Partners holding Class A Units will continue in 2002 at a level at least comparable with 2001 cash distributions on an annual basis. At this time, given the nature of the joint ventures and
properties in which the Partnership has invested, there are no known material improvements or renovations to the properties expected to be funded from cash flow from operations.





(d)  Inflation





The real estate market has not
been affected significantly by inflation in the past three years due to the relatively low inflation rate. There are provisions in the majority of tenant leases executed by the Partnership to protect the Partnership from the impact of inflation.
Most leases contain provisions for common area maintenance, real estate tax and insurance reimbursements from tenants either on a per square foot basis, or above a certain allowance per square foot annually. These provisions should reduce the
Partnerships exposure to increases in costs and operating expenses resulting from inflation. In addition, a number of the Partnerships leases are for remaining terms of less than five years, which may allow the Partnership to enter into
new leases at higher base rental rates in the event that market rental rates rise above the existing lease rates. There is no assurance, however, that the Partnership would be able to replace existing leases with new leases at higher base rental
rates.





(e)  Critical Accounting Policies





The Partnerships accounting policies have been established and conformed to in accordance with accounting principles generally accepted in the United States
(GAAP). The preparation of financial statements in conformity with GAAP requires management to use judgments in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements presented and the reported amounts of revenues and expenses during the respective reporting periods. If our judgment or
interpretation of the facts and circumstances relating to various transactions had been different, it is possible that different accounting policies would have been applied; thus, resulting in a different presentation of our financial statements.





The accounting policies that we consider to be critical, in that they may require complex judgment in their
application or require estimates about matters that are inherently uncertain, are discussed below. For further information related to the Partnerships accounting policies, including the critical accounting policies described below, refer to
the report filed for the Partnership on Form 10-K for the year ended December 31, 2001.





Straight-Lined Rental
Revenues





The Partnership recognizes rental income generated from all leases on real estate assets in which
the Partnership has an ownership interest through its investments in joint ventures on a straight-line basis over the terms of the respective leases. Should tenants encounter financial difficulties in future periods, the amounts recorded as
receivables may not be fully realized.




13




---

##### Table of Contents




Operating Cost Reimbursements





The Partnership generally bills tenants for operating cost reimbursements through its investments in joint ventures on a monthly basis at
amounts estimated largely based on actual prior period activity and the respective tenant lease terms. Such billings are generally adjusted on an annual basis to reflect reimbursements owed to the landlord based on the actual costs incurred during
the period and the respective tenant lease terms. Should tenants encounter financial difficulties in future periods, the amounts recorded as receivables may not be fully realized.





Real Estate





Management
continually monitors events and changes in circumstances indicating that the carrying amounts of the real estate assets in which the Partnership has ownership interests through its investments in joint ventures may not be recoverable. When such
events or changes in circumstances are present, management assesses the potential impairment by comparing the fair market value of the underlying assets, estimated at amounts equal to the future undiscounted operating cash flows expected to be
generated from tenants over the life of the assets and from their eventual disposition, to the carrying value of the assets. In the event that the carrying amount exceeds the estimated fair market value, the Partnership would recognize an impairment
loss in the amount required to adjust the carrying amount of the asset to its estimated fair market value. Neither the Partnership nor its joint ventures have recognized impairment losses on real estate assets in 2001, 2000 or 1999.





(THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK)




14




---

##### Table of Contents




PART II
OTHER INFORMATION





ITEM 6(b)





During the second quarter of 2002, the Registrant filed a Current Report on Form 8-K dated May 16, 2002 disclosing the dismissal of Arthur Andersen LLP as its independent
public accountants.





SIGNATURES





Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant duly caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.





WELLS REAL ESTATE FUND IX, L.P.
(Registrant)Dated: August 12, 2002



By:

/s/    LEO F. WELLS,
IIILeo F. Wells, III, as Individual General Partner and as President and Sole Director of Wells Capital, Inc., the General Partner of Wells Partners, L.P.





Dated: August 12, 2002



By:

/s/    DOUGLAS P.
WILLIAMSAs Chief Financial Officer







15




---

##### Table of Contents




EXHIBIT INDEX


TO


SECOND QUARTER FORM
10-Q


OF


WELLS REAL ESTATE FUND IX, L.P.





Exhibit No.

Description99.1

Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 200299.2

Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002




16