CINCINNATI—The Phillips Edison-ARC Shopping Center REITInc. has been one of the most active buyers of shoppingcenters in the US. And in the second quarter, the Cincinnati-basedtrust kept up the speedy pace by purchasing 20 centers in 11 stateswith an aggregate price of $315 million. This tops the firstquarter, when the company picked up 17 centers across the US withan aggregate price of $285.7 million. Its long-term strategy hasbeen to assemble a portfolio of neighborhood and community shoppingcenters anchored by the #1 or #2 grocers in its targetedmarkets.

The second quarter acquisitions expanded the REIT's presence inFlorida, Georgia, Kentucky, Pennsylvania, Virginia, South Carolinaand Texas. And it reached into the far west and New England byadding for the first time properties in Massachusetts, Nevada andWashington, as well as Tennessee.

“Our strategy is to build a portfolio of assets diversified bygeography, grocery anchor, tenancy, creditworthiness and leaseexpirations,” Jeff Edison, chairman of the boardand chief executive officer, tells GlobeSt.com. “We have anin-house acquisitions team with national coverage that looks foropportunities in strong infill growth markets across the country.We continue to look for opportunities in the west and New Englandthat support our diversification strategy.”