Phillips Edison's $102M JV targets neighborhood retail

09/29/2011 | CoStar Group

Phillips Edison-ARC Shopping Center REIT has formed a retail JV with a group of international investors advised by CBRE Investors Global Multi Manager. They plan to invest in neighborhood and community shopping centers. Phillips Edison has kicked in $52 million and will own the majority share of the venture, which has a 51-49 ownership structure. The CBREI investors have contributed $50 million.

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