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): September 12, 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
East Burnside Plaza
On September 12, 2013, Phillips Edison – ARC Shopping Center REIT Inc. (the “Company”), through a wholly-owned subsidiary, purchased a grocery-anchored shopping center containing 38,363 rentable square feet located on approximately 2.1 acres of land in Portland, Oregon (“East Burnside Plaza”) for approximately $8.6 million, exclusive of closing costs. A portion of the purchase price consisted of the assumption of a $6.3 million mortgage loan. The Company funded the remainder of the purchase price with proceeds from its ongoing initial public offering. East Burnside Plaza was purchased from East Burnside Plaza, LLC, a Delaware limited liability company, which is not affiliated with the Company, its advisor or its sub-advisor.
East Burnside Plaza is 100% leased to seven tenants, including a QFC grocery store, which occupies approximately 78.5% of the total rentable square feet of the shopping center. Based on the current condition of East Burnside Plaza, the Company’s management does not believe that it will be necessary to make significant renovations to the property. The Company’s management believes East Burnside Plaza is adequately insured.
Press Release
On September 17, 2013, the Company issued a press release announcing its acquisition of East Burnside Plaza.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits
| 99.1 | Press Release dated September 17, 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: September 17, 2013 | By: |
/s/ R. Mark Addy | ||||
| R. Mark Addy | ||||||
| Co-President and Chief Operating Officer | ||||||
