CINCINNATI, Oct. 6, 2014 /PRNewswire/ — Phillips Edison–ARC Shopping Center REIT Inc. (the “Company”) today announced the acquisition of 11 grocery-anchored shopping centers during the third quarter.

The Company’s portfolio now consists of 131 properties located in 27 states and leased to 38 leading grocery store anchors. The 11 grocery-anchored shopping centers acquired during the third quarter to date expanded the Company’s presence in 10 states: California, Colorado, Florida, Georgia, Massachusetts, Michigan, North Carolina, Ohio, South Carolina and Tennessee.

The acquisitions included: Lynwood Place, anchored by Kroger in Jackson, Tennessee; Foot Hills Center, anchored by Safeway in Lakewood, Colorado; Thompson Valley Towne Center, anchored by King Soopers in Loveland, Colorado; Battle Ridge Pavilion, anchored by Kroger in Marietta, Georgia; Lumina Commons, anchored by Harris Teeter in Wilmington, North Carolina; Driftwood Village, anchored by Food 4 Less in Ontario, California; French Golden Gate, anchored by Publix in Bartow, Florida; Orchard Square, anchored by Kroger in Washington Township, Michigan; Palmetto Pavilion, anchored by Publix in North Charleston, South Carolina; Trader Joe’s Center, anchored by Trader Joe’s in Dublin, Ohio; and Five Town Plaza, anchored by Big Y, in Springfield, Massachusetts.

The aggregate purchase price for all of the acquisitions totaled approximately $165 million and the acquisitions resulted in the addition of approximately 1.3 million square feet to the Company’s portfolio. These acquisitions bring the aggregate purchase price for the entire portfolio to approximately $2.0 billion. The portfolio now includes approximately 13.9 million square feet of gross leasable area.

“We are pleased to announce that with these 11 new acquisitions, we have fully deployed all of the net equity proceeds raised in our initial public offering. We plan to continue to acquire properties that meet our investment criteria using moderate leverage,” said Jeff Edison, Chairman of the Board and Chief Executive Officer.

About Phillips Edison – ARC Shopping Center REIT Inc.

Phillips Edison-ARC Shopping Center REIT Inc. is a public non-traded REIT 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. The Company is co-sponsored by two industry leaders: Phillips Edison & Company, who has acquired over $3.25 billion in shopping centers throughout the United States, and AR Capital, LLC, a real estate investment program sponsor dedicated to governance best practices. As of October 6, 2014, the Company owned and managed an institutional quality retail portfolio consisting of 131 grocery-anchored shopping centers containing approximately 13.9 million square feet of gross leasable area. For more information on the Company, please visit the Company’s website at www.phillipsedison-arc.com.

Photo – http://photos.prnewswire.com/prnh/20140314/PH83310LOGO

SOURCE Phillips Edison – ARC Shopping Center REIT Inc.