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 19, 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
Contra Loma Plaza
On August 19, 2013, the Company, through a wholly-owned subsidiary, purchased a grocery-anchored shopping center containing 74,616 rentable square feet located on approximately 8.8 acres of land in Antioch, California (“Contra Loma Plaza”) for approximately $7.2 million, exclusive of closing costs. The Company funded the purchase price with proceeds from its ongoing initial public offering. Contra Loma Plaza was purchased from RK Antioch LLC, a California limited liability company and Kanu Patel and Renuka Patel, Trustees of the Kanu Patel and Renuka Patel Family Trust, none of which are affiliated with the Company, its advisor or its sub-advisor.
Contra Loma Plaza is approximately 81.9% leased to nine tenants, including a Save Mart grocery store, which occupies approximately 67.3% of the total rentable square feet of the shopping center. The Company’s management believes Contra Loma Plaza is adequately insured.
South Oaks Plaza
On August 21, 2013, the Company, through a wholly-owned subsidiary, purchased a grocery-anchored shopping center containing 112,300 rentable square feet located on approximately 10.2 acres of land in St. Louis, Missouri (“South Oaks Plaza”) for approximately $9.5 million, exclusive of closing costs. The Company funded the purchase price with proceeds from its ongoing initial public offering. South Oaks Plaza was purchased from Pace-South County Associates, LLC, a Missouri limited liability company, which is not affiliated with the Company, its advisor or its sub-advisor.
South Oaks Plaza is 100.0% leased to three tenants, including a Shop ‘n Save grocery store, which occupies approximately 71.2% of the total rentable square feet of the shopping center. The Company’s management believes South Oaks Plaza is adequately insured.
Press Release
On August 27, 2013, the Company issued a press release announcing its acquisition of Contra Loma Plaza and South Oaks Plaza.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated August 27, 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 27, 2013 | By: | /s/ R. Mark Addy |
| R. Mark Addy | ||
| Co-President & Chief Operating Officer | ||
