CINCINNATI—Phillips Edison-ARC Shopping Center REITInc. has hired industry veteran Devin I.Murphy as its chief financial officer, treasurer andsecretary. Murphy has over 25 years of experience with real estateinvestment banking and will work closely with JeffreyEdison, co-chairman of the board and chief executiveofficer; John Bessey, co-president and chiefinvestment officer; and R. Mark Addy, co-presidentand chief operating officer

“He complements Phillips Edison-ARC, which is dedicated tobuilding a diverse portfolio of top-performing grocery-anchoredshopping centers throughout the United States,” says Edison.“Devin's proven ability to successfully manage the strategic andfinancial requirements as a trusted advisor to many of the world'slargest real estate companies expands the capabilities of thecompany as we continue to execute our investment objectives.”

Phillips Edison-ARC has been quite active lately. Early thisyear, GlobeSt.com reported that they had reached over $400 million inacquisitions. Subsequent purchases include Lutz Lake Crossing, a 64,986-square-footshopping center in Lutz, located approximately 15 miles north ofTampa. In the same deal, the REIT also acquired Publix atSeven Hills, a 72,590-square-foot shopping center locatedin Spring Hill, Florida. In addition, the trust recentlybought a portfolio of three retail assets inTallahassee, Columbia, SC, and Houston. As of May 30, 2013,Phillips Edison-ARC owned, directly or indirectly through a jointventure in which it has a controlling interest, and managed aretail portfolio with 40 grocery-anchored shopping centers totaling3,946,929-square-feet.