CINCINNATI-Phillips Edison & Co., a shopping-center investor based in Cincinnati, is planning to purchase shopping centers along with an institutional partner. The company has formed a joint venture with a CBRE Investors unit to invest approximately $200 million in acquiring 15 to 20 grocery-anchored retail centers across the US.
The CBRE Investors unit, an associate of CB Richard Ellis Group, will provide $50 million to the joint venture, while Phillips Edison will provide $52 million. For the full story, go to Wall Street Journal .
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