Acquires Seven Shopping Centers in December
CINCINNATI–(BUSINESS WIRE)–Phillips Edison Grocery Center REIT II, Inc. (the “Company”) is pleased to announce a strong close to 2015, acquiring seven grocery-anchored shopping centers in December for a total purchase price of $123 million. In doing so, the Company added two new grocery anchors, Big Y and Jewel Osco, and 780 thousand square feet to its growing portfolio.
The December acquisitions include:
- Sheffield Crossing in Sheffield Village, Ohio;
- Amherst Marketplace in Amherst, Ohio;
- The Shoppes at Windmill Place in Batavia, Illinois;
- Hamilton Mill Village in Dacula, Georgia;
- Normandale Village in Bloomington, Minnesota;
- Wyandotte Plaza in Kansas City, Kansas; and
- Everybody’s Plaza in Cheshire, Connecticut.
With these deals, the Company acquired a total of 18 shopping centers in the fourth quarter of 2015. Its diversified portfolio now consists of 58 shopping centers, which are anchored by 28 leading grocers, located across 19 states.
The Company’s sponsor, Phillips Edison & Company, maintains a robust acquisitions pipeline managed by a national, in-house team of highly experienced commercial real estate professionals. This team focuses on identifying opportunities to acquire high quality grocery-anchored shopping centers diversified by grocer, geography, tenancy, lease expirations and creditworthiness.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. As of January 13, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 58 grocery-anchored shopping centers totaling 6.9 million square feet of gross leasable area. For more information on the Company, please visit the website atwww.grocerycenterREIT2.com.
This press release contains forward-looking statements about our business, including, in particular, statements about our plans, strategies and objectives. You can generally identify forward-looking statements by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in our most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.
Allie Seifert, 484-342-3600
Phillips Edison Grocery Center REIT II, Inc.
Emily Kendall, 513-746-2595
Director of Investor Relations
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