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<META NAME="AUTHORNAME" CONTENT="Lesley H. Solomon">
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<B><FONT SIZE=2><P ALIGN="CENTER">UNITED STATES</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>
</B><P ALIGN="CENTER">________________</P>
</FONT><FONT SIZE=5><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">FORM 8-K</P>
</B></FONT><FONT SIZE=1><P>&nbsp;</P><DIR>
<DIR>
</FONT><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">CURRENT REPORT </P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
</B><P ALIGN="CENTER">&nbsp;</P></DIR>
</DIR>
<B><P ALIGN="CENTER">Date of Report (Date of earliest event reported): August 21, 2007</P><DIR>
<DIR>
</B><P ALIGN="CENTER">&nbsp;</P></DIR>
</DIR>
</FONT><FONT SIZE=1><P>&nbsp;</P>
</FONT><B><P ALIGN="CENTER">WELLS TIMBERLAND REIT, INC.</P>
<FONT SIZE=1><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</P>
</B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=690>
<TR><TD WIDTH="30%" VALIGN="TOP">
<B><FONT SIZE=2><P>Maryland</B></FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<B><FONT SIZE=2><P>333-129651</B></FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<B><FONT SIZE=2><P>20-3536671</B></FONT></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">&nbsp;<B>(State or other jurisdiction of incorporation)</B></FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">&nbsp;<B>(Commission File Number)</B></FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">&nbsp;<B>(IRS Employer Identification No.)</B></FONT></TD>
</TR>
</TABLE>
<FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">6200 The Corners Parkway</P>
<P ALIGN="CENTER">Norcross, Georgia 30092-3365</P>
</B></FONT><FONT SIZE=1><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(Address of principal executive offices, including zip code)</P>
</B></FONT><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>
</FONT><B><FONT SIZE=1><P ALIGN="CENTER">Registrant's telephone number, including area code:</FONT><FONT SIZE=2> (770) 449-7800</P>
</B><P ALIGN="CENTER">&nbsp;</P>
</FONT><B><FONT SIZE=1><P ALIGN="CENTER">Former name or former address, if changed since last report</FONT><FONT SIZE=2>: Not applicable</P>
</B><P ALIGN="CENTER">&nbsp;</P>
<B><P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):</P>
</B><P>&nbsp;</P>
<B><P>[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P>&nbsp;</P>
<P>[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P>&nbsp;</P><DIR>
<P>[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P></DIR>
<P>&nbsp;</P><DIR>
<P>[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P></DIR>
<P>&nbsp;</P>
</B><P>&nbsp;</P>
</FONT><P>&nbsp;</P>
<B><FONT SIZE=2><P><A NAME="52q"></A>ITEM  1.01&#9;Entry Into a Material Definitive Agreement.</P>
</B><P>On August 21, 2007, the board of directors of Wells Timberland REIT, Inc. (the &quot;Company&quot;) approved the renewal of the advisory agreement (the &quot;Renewed Advisory Agreement&quot;) by and among the Company, Wells Timberland Operating Partnership, L.P. and Wells Timberland Management Organization, LLC. The Renewed Advisory Agreement is effective through August 11, 2008.  However, any party may terminate the Renewed Advisory Agreement without cause or penalty upon providing 60 days' written notice. The terms of the Renewed Advisory Agreement are identical to those of the advisory agreement in effect through August 11, 2007.</FONT> </P>
<FONT SIZE=2><P>&nbsp;</P><DIR>
<DIR>
<DIR>
<DIR>
<P>  </P>
<B><P ALIGN="CENTER"></P></DIR>
</DIR>
</DIR>
</DIR>
<P ALIGN="CENTER">SIGNATURE</P>
</B><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=617>
<TR><TD WIDTH="47%" VALIGN="TOP" HEIGHT=27>
<FONT SIZE=1><P>&nbsp;</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP" HEIGHT=27>
<FONT SIZE=2><P>WELLS TIMBERLAND REIT, INC.</FONT></TD>
</TR>
</TABLE>
<FONT SIZE=2><P>&nbsp;</P>
<P>&nbsp;&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=633>
<TR><TD WIDTH="30%" VALIGN="TOP">
<FONT SIZE=2><P>Date: August 23, 2007</FONT></TD>
<TD WIDTH="70%" VALIGN="MIDDLE" COLSPAN=2>
<FONT SIZE=1><P>&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P>&nbsp;</FONT></TD>
<TD WIDTH="55%" VALIGN="TOP">
<FONT SIZE=2><P>By:&#9;<U>/s/ Douglas P. Williams&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="MIDDLE"><DIR>
<FONT SIZE=2><P>Douglas P. Williams</DIR>
</FONT></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="MIDDLE"><DIR>
<FONT SIZE=2><P>Executive Vice President, Secretary and Treasurer</DIR>
</FONT></TD>
</TR>
</TABLE>
<FONT SIZE=2><P ALIGN="CENTER"> </P>
</FONT></BODY>
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{"company-data": {"conformed-name": "Wells Timberland REIT, Inc.", "cik": "0001341141", "assigned-sic": "6798", "irs-number": "203536671", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-129651", "film-number": "071075269"}, "business-address": {"street1": "6200 THE CORNERS PARKWAY", "street2": "SUITE 250", "city": "NORCROSS", "state": "GA", "zip": "30092", "phone": "(770) 449-7800"}, "mail-address": {"street1": "6200 THE CORNERS PARKWAY", "street2": "SUITE 250", "city": "NORCROSS", "state": "GA", "zip": "30092"}, "former-company": {"former-conformed-name": "Wells Timber Real Estate Investment Trust, Inc.", "date-changed": "20051011"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 21, 2007
WELLS TIMBERLAND REIT, INC.
(Exact name of registrant as specified in its charter)
Maryland
333-129651
20-3536671
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
6200 The Corners Parkway
Norcross, Georgia 30092-3365
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code:
(770) 449-7800
Former name or former address, if changed since last report
: Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):
[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM  1.01	Entry Into a Material Definitive Agreement.
On August 21, 2007, the board of directors of Wells Timberland REIT, Inc. (the "Company") approved the renewal of the advisory agreement (the "Renewed Advisory Agreement") by and among the Company, Wells Timberland Operating Partnership, L.P. and Wells Timberland Management Organization, LLC. The Renewed Advisory Agreement is effective through August 11, 2008.  However, any party may terminate the Renewed Advisory Agreement without cause or penalty upon providing 60 days' written notice. The terms of the Renewed Advisory Agreement are identical to those of the advisory agreement in effect through August 11, 2007.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WELLS TIMBERLAND REIT, INC.
Date: August 23, 2007
By:
/s/ Douglas P. Williams
Douglas P. Williams
Executive Vice President, Secretary and Treasurer