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<B><FONT SIZE=3><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">WASHINGTON, DC 20549</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">FORM 8-K</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">CURRENT REPORT</P>
<P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE </P>
<P ALIGN="CENTER">SECURITIES EXCHANGE ACT OF 1934</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P></B></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><P>Date of Report (Date of earliest event reported)</FONT></TD>
<TD WIDTH="49%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">May 4, 2007</U></FONT></TD>
</TR>
</TABLE>
</CENTER></P>
<B><FONT SIZE=3><P ALIGN="CENTER"></P>
</B><U><P ALIGN="CENTER">Wells Real Estate Fund XI, L.P.</P>
</U><P ALIGN="CENTER">(Exact Name of Registrant as Specified in Charter)</P>
<B><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P></B></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638>
<TR><TD WIDTH="40%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">Georgia</U></FONT></TD>
<TD WIDTH="27%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">0-25731</U></FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">58-2250094</U></FONT></TD>
</TR>
<TR><TD WIDTH="40%" VALIGN="TOP" HEIGHT=5>
<FONT SIZE=3><P ALIGN="CENTER">(State or Other Jurisdiction of Incorporation)</FONT></TD>
<TD WIDTH="27%" VALIGN="TOP" HEIGHT=5>
<FONT SIZE=3><P ALIGN="CENTER">(Commission File Number)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" HEIGHT=5>
<FONT SIZE=3><P ALIGN="CENTER">(IRS Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>
<B><FONT SIZE=3><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P></B></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=637>
<TR><TD WIDTH="58%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">6200 The Corners Parkway, Norcross, Georgia</U></FONT></TD>
<TD WIDTH="42%" VALIGN="TOP">
<U><FONT SIZE=3><P ALIGN="CENTER">30092-3365</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">(Address of Principal Executive Offices)&#9;</FONT></TD>
<TD WIDTH="42%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">(Zip Code)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>
<FONT SIZE=3>
<P ALIGN="CENTER">Registrant's telephone number, including area code: <U>(770) 449-7800</P>
</U>
<P>&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">(Former Name or Former Address, if Changed Since Last Report)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<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>
<DIR>
<P ALIGN="JUSTIFY">[]  &#9;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P ALIGN="JUSTIFY">[]  &#9;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P ALIGN="JUSTIFY">[]  &#9;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR   240.14d-2(b))</P>
<P>[]  &#9;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</DIR>
</FONT><B><P ALIGN="JUSTIFY">Item 1.01.  Entry into a Material Definitive Agreement</P>
</B><FONT COLOR="#ff0000"><P ALIGN="JUSTIFY"></P>
</FONT><B><FONT SIZE=3><P>111 Southchase Boulevard</P>
</B>
<P ALIGN="JUSTIFY">On May 4, 2007, The Wells Fund XI-Fund XII-REIT Joint Venture (&quot;Fund XI-XII-REIT Associates&quot;) amended and reinstated an agreement to sell a manufacturing and office building containing approximately 168,000 rentable square feet and located in Fountain Inn, South Carolina (&quot;111 Southchase Boulevard&quot;) to an unaffiliated third party for a gross sales price of $7,625,000, excluding closing costs, (the &quot;Agreement&quot;).  Fund XI-XII-REIT Associates is a joint venture partnership between Wells Real Estate Fund XI, L.P. (the&nbsp;&quot;Registrant&quot;), Wells Real Estate Fund XII, L.P., and Wells Operating Partnership, L.P.  Pursuant to the Agreement, the inspection period has expired and a buyer-funded deposit of $1,000,000 has become non-refundable.  The Registrant expects the closing of this transaction to occur during the second quarter of 2007; however, there are no assurances regarding when or if this sale will be completed.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The Registrant holds an equity interest of approximately 26.1% in Fund XI-XII-REIT Associates, and Fund XI-XII-REIT Associates owns 100% of 111 Southchase Boulevard.  </P>
</FONT><P ALIGN="JUSTIFY"></P>
<FONT SIZE=2><P ALIGN="JUSTIFY">&nbsp;</P>
</FONT><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><FONT SIZE=3><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P><DIR>
<DIR>
<P ALIGN="CENTER">SIGNATURE</P>
</B><P ALIGN="JUSTIFY"></P></DIR>
</DIR>
<P ALIGN="JUSTIFY">&#9;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P ALIGN="JUSTIFY"></P></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="46%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT SIZE=3><P>WELLS REAL ESTATE FUND XI, L.P.<BR>
(Registrant)</FONT></TD>
</TR>
</TABLE>
</P>
<FONT SIZE=3></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">By:</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP">
<FONT SIZE=3><P>WELLS PARTNERS, L.P.<BR>
General Partner</FONT></TD>
</TR>
</TABLE>
</P>
<FONT SIZE=3></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">By:</FONT></TD>
<TD WIDTH="42%" VALIGN="TOP">
<FONT SIZE=3><P>Wells Capital, Inc.<BR>
General Partner</FONT></TD>
</TR>
</TABLE>
</P>
<FONT SIZE=3></FONT>
<P ALIGN="RIGHT"><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="64%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="RIGHT">By:</FONT></TD>
<TD WIDTH="36%" VALIGN="TOP">
<U><FONT SIZE=3><P>/s/ Douglas P. Williams<BR>
</U>Douglas P. Williams<BR>
Senior Vice President</FONT></TD>
</TR>
</TABLE>
</P>
<FONT SIZE=3><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Date:  May 8, 2007</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
</FONT><FONT FACE="Century Schoolbook"><P>&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P></FONT></BODY>
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
May 4, 2007
Wells Real Estate Fund XI, L.P.
(Exact Name of Registrant as Specified in Charter)
Georgia
0-25731
58-2250094
(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)
(Zip Code)
Registrant's telephone number, including area code:
(770) 449-7800
(Former Name or Former Address, if Changed Since Last Report)
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
111 Southchase Boulevard
On May 4, 2007, The Wells Fund XI-Fund XII-REIT Joint Venture ("Fund XI-XII-REIT Associates") amended and reinstated an agreement to sell a manufacturing and office building containing approximately 168,000 rentable square feet and located in Fountain Inn, South Carolina ("111 Southchase Boulevard") to an unaffiliated third party for a gross sales price of $7,625,000, excluding closing costs, (the "Agreement").  Fund XI-XII-REIT Associates is a joint venture partnership between Wells Real Estate Fund XI, L.P. (the "Registrant"), Wells Real Estate Fund XII, L.P., and Wells Operating Partnership, L.P.  Pursuant to the Agreement, the inspection period has expired and a buyer-funded deposit of $1,000,000 has become non-refundable.  The Registrant expects the closing of this transaction to occur during the second quarter of 2007; however, there are no assurances regarding when or if this sale will be completed.
The Registrant holds an equity interest of approximately 26.1% in Fund XI-XII-REIT Associates, and Fund XI-XII-REIT Associates owns 100% of 111 Southchase Boulevard.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
WELLS REAL ESTATE FUND XI, L.P.
(Registrant)
By:
WELLS PARTNERS, L.P.
General Partner
By:
Wells Capital, Inc.
General Partner
By:
/s/ Douglas P. Williams
Douglas P. Williams
Senior Vice President
Date:  May 8, 2007