Phillips Edison, a REIT focused on grocery-anchored neighborhood shopping centers, filed on Thursday with the SEC to raise up to $100 million.
Phillips Edison states that it is one of the nation's largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers. Its portfolio primarily consists of neighborhood centers anchored by the #1 or #2 grocer tenants by sales within their respective formats by trade area.
The Cincinnati, OH-based company was founded in 1991 and booked $497 million in revenue for the 12 months ended March 31, 2021. It has not selected an exchange yet but plans to list under the symbol PECO. Morgan Stanley, BofA Securities, and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
