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Phillips Edison Completes Merger Deal Creating $6B Retail REIT

PECO’s merger with REIT II creates a national portfolio with ownership interests in 334 grocery-anchored shopping centers encompassing approximately 37.7 million square feet located across 32 states.

Recently, retail REIT Phillips Edison & Company, Inc. and Northwestern Mutual reported they formed two joint ventures valued at $414.5 million that will invest in 20 grocery-anchored shopping centers currently owned by PECO. Recently, retail REIT Phillips Edison & Company, Inc. and Northwestern Mutual reported they formed two joint ventures valued at $414.5 million that will invest in 20 grocery-anchored shopping centers currently owned by PECO.

CINCINNATI—Locally-based Phillips Edison & Company, Inc., an internally-managed real estate investment trust and one of the nation’s largest owners and operators of grocery-anchored shopping centers, has completed its merger with Phillips Edison Grocery Center REIT II, Inc., a public non-traded REIT that was advised and managed by PECO.

The 100% stock-for-stock transaction has created a combined company with a total enterprise value of approximately $6.0 billion. PECO’s merger with REIT II creates a national portfolio with ownership interests in 334 grocery-anchored shopping centers encompassing approximately 37.7 million square feet located across 32 states.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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