Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - Phillips Edison & Company, Inc. | v353341_ex99-1.htm |
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2013
PHILLIPS EDISON – ARC SHOPPING CENTER REIT INC.
(Exact name of registrant specified in its charter)
| Maryland | 000-54691 | 27-1106076 |
|
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
IRS Employer Identification No. |
11501 Northlake Drive
Cincinnati, Ohio 45249
(Address of principal executive offices)
Registrant’s telephone number, including area code: (513) 554-1110
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events
Paradise Crossing
On August 13, 2013, Phillips Edison – ARC Shopping Center REIT Inc. (the “Company”), through a wholly-owned subsidiary, purchased a grocery-anchored shopping center containing 67,470 rentable square feet located on approximately 9.9 acres of land in Lithia Springs, Georgia, a suburb of Atlanta (“Paradise Crossing”) for approximately $9.0 million, exclusive of closing costs. The Company funded the purchase price with proceeds from its ongoing initial public offering. Paradise Crossing was purchased from American Real Estate Partners, III, LP, a Georgia limited partnership, which is not affiliated with the Company, its advisor or its sub-advisor.
Paradise Crossing is approximately 93.7% leased to 13 tenants, including a Publix grocery store, which occupies approximately 65.6% of the total rentable square feet of the shopping center. Based on the current condition of Paradise Crossing, the Company’s management does not believe that it will be necessary to make significant renovations to the property. The Company’s management believes Paradise Crossing is adequately insured.
Press Release
On August 19, 2013, the Company issued a press release announcing its acquisition of Paradise Crossing.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated August 19, 2013
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PHILLIPS EDISON – ARC SHOPPING CENTER REIT INC. | ||
| Dated: August 19, 2013 | By: | /s/ R. Mark Addy |
| R. Mark Addy | ||
| Co-President and Chief Operating Officer | ||