{"id":1004058276,"date":"2013-01-24T07:24:57","date_gmt":"2013-01-24T15:24:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004058276"},"modified":"2022-12-07T16:42:30","modified_gmt":"2022-12-08T00:42:30","slug":"phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/","title":{"rendered":"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta"},"content":{"rendered":"<p><em>By Gail Kalinoski, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004058278\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/publixatl\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\" data-orig-size=\"600,480\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"PublixATL\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg?w=600\" class=\"alignleft size-medium wp-image-1004058278\" title=\"PublixATL\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg 600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Phillips Edison-ARC Shopping Center REIT Inc. has started the new year where it left off in 2012 \u2013 with another acquisition. The new purchase is a portfolio of six grocery-anchored shopping centers in the Atlanta area which the Cincinnati-based REIT acquired for $60.5 million.<\/p>\n<p>The seller was not identified. The shopping centers have a total of 507, 668 square feet and are comprised of five properties anchored by Kroger grocery stores and one anchored by a Publix.<\/p>\n<p>\u201cWe are extremely pleased to have closed this portfolio in the Greater Atlanta Metro area,\u201d Jeffrey Edison, co-chairman of the board and CEO of the REIT, said in a statement. \u201cWe believe in the strength of the grocery-anchored shopping center model and feel that these acquisitions further enhance the strength of our portfolio by adding strong, credit-worthy tenants such as Kroger and Publix.\u201d<\/p>\n<p>A public, non-traded REIT that focuses on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers in the United States, Phillips Edison-ARC now owns directly or jointly 32 centers totaling almost 3 million square feet. With the Atlanta area purchases this month, the REIT\u2019s portfolio has an aggregate purchase price of approximately $367.5 million and features 13 leading grocers in 15 states.<\/p>\n<p>The REIT is co-sponsored by Phillips Edison &amp; Company, which has acquired over $1.8 billion in shopping centers in the U.S., and AR Capital, L.L.C., a real estate investment program sponsor. It was particularly active in 2012, executing deals until the last week of December, when it acquired three more shopping centers for about $55.5 million. Those purchases gave the company its first Trader Joe\u2019s, Vons and Raley\u2019s grocery stores and the first acquisitions in Oregon and California. The acquisition was comprised of Quartz Hill Towne Centre, an 110,306 square-foot center in Lancaster, Calif.; Village One Plaza, a 105,658-square-foot center in Modesto, Calif., and Hilfiker Square, a 38,558-square-foot center in Salem, Ore.<\/p>\n<p>In early December, the REIT\u2019s CEO commented on its \u201crobust acquisition activity\u201d as 2012 wound down and looked ahead to 2013.<\/p>\n<p>\u201cWe are excited about our recent acquisitions and the construction of our portfolio since the formation of the PE-ARC,\u201d Edison noted in the Dec. 5 statement. \u201cWith our pipeline of $221.0 million of possible acquisitions, we believe that we are taking advantage of the tremendous opportunities in the market and we foresee a favorable 2013. We believe that our strategy in the necessity-based grocery-anchored shopping center market space has allowed us to find acquisitions with favorable capitalization rates and we expect to continue to do so with our strong pipeline.\u201d<\/p>\n<p>Last week, the REIT announced that it had increased the borrowing capacity of its senior secured revolving credit line with KeyBank from $40 million to $88 million. The loan facility allows the REIT to further increase the borrowing capacity up to $250 million. The expansion of the credit line came less than a month after Phillips-Edison ARC secured the $40 million credit facility.<\/p>\n<p>\u201cAs we continue to see attractive acquisition opportunities in the marketplace for well-occupied grocery-anchored shopping centers, this credit facility will assist us in building our portfolio by streamlining the process of obtaining financing\u00a0 and increasing the efficiency of closing,\u201d Edison said in the Jan. 18 statement about the larger credit line.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 \u2013 with another acquisition \u2013 a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.<\/p>\n","protected":false},"author":1068,"featured_media":1004058278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,1583,37774,37775,21783,21742,37776,37777,21749,37778],"tags":[],"class_list":["post-1004058276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-cincinnati","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-investment","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-retail","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta\" \/>\n<meta property=\"og:description\" content=\"Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 \u2013 with another acquisition \u2013 a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-24T15:24:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T00:42:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/\",\"name\":\"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\",\"datePublished\":\"2013-01-24T15:24:57+00:00\",\"dateModified\":\"2022-12-08T00:42:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg\",\"width\":\"600\",\"height\":\"480\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/","og_locale":"en_US","og_type":"article","og_title":"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta","og_description":"Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 \u2013 with another acquisition \u2013 a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-01-24T15:24:57+00:00","article_modified_time":"2022-12-08T00:42:30+00:00","og_image":[{"width":600,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/","url":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/","name":"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg","datePublished":"2013-01-24T15:24:57+00:00","dateModified":"2022-12-08T00:42:30+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg","width":"600","height":"480"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-arc-shopping-center-acquires-508-ksf-portfolio-atlanta-metro-area\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phillips Edison\u2013ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/01\/PublixATL.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004058276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004058276"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004058276\/revisions"}],"predecessor-version":[{"id":1004619751,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004058276\/revisions\/1004619751"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004058278"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004058276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004058276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004058276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}