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Phillips Edison & Co. and Phillips Edison Grocery Center REIT II Complete Merger


Phillips Edison & Co. Inc., an internally managed real estate investment trust, 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 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.

“This merger creates meaningful benefits for both PECO and REIT II stock holders,” said Jeff Edison, chairman and CEO of PECO. “It creates an internally-managed REIT that owns a high-quality portfolio of grocery-anchored shopping centers with even greater geographic, grocery-anchor, and tenant diversification. The combined entity will have increased access to the capital markets due to its enhanced size, scale and prominence, which we believe improves our position for a liquidity event.”

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