8-K

 

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):  April 4, 2013

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PHILLIPS EDISON – ARC SHOPPING CENTER REIT INC.

(Exact name of registrant specified in its charter)

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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

Property Acquisitions

On April 4, 2013, Phillips Edison – ARC Shopping Center REIT Inc. (the “Company”), through its wholly-owned subsidiaries, purchased two shopping centers, Lutz Lake Crossing and Publix at Seven Hills. Lutz Lake Crossing is a 64,986 square foot shopping center located on approximately 8.1 acres of land in Lutz, Florida.  Publix at Seven Hills is a 72,590 square foot shopping center located on approximately 9.5 acres of land in Spring Hill, Florida.  The Company funded the purchase price with proceeds from a syndicated revolving credit facility led by KeyBank National Association and proceeds from its initial public offering.  The seller of these properties is not affiliated with the Company, its advisor or its sub-advisor.

Lutz Lake Crossing is approximately 85.8% leased to nine tenants, including a Publix grocery store that occupies approximately 68.1% of the total rentable square feet.  Publix at Seven Hills is approximately 90.6% leased to fourteen tenants, including a Publix grocery store that occupies approximately 67.4% of the total rentable square feet. Based on the current condition of these properties, the Company does not believe that it will be necessary to make significant renovations to either of the properties. The Company’s management believes that these properties are adequately insured.

Press Release

On April 8, 2013, the Company issued a press release announcing the acquisition of Lutz Lake Crossing and Publix at Seven Hills.

Item 9.01.  Financial Statements and Exhibits

(c) Exhibits

99.1    Press Release dated April 8 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: April 8, 2013	By:	/s/ R. Mark Addy_______________________
			R. Mark Addy
			Chief Operating Officer

EX-99.1

 

EXHIBIT 99.1

 

CONTACTS From: Tony DeFazio	For: Jennifer Weingartner Director of Investor Relations
Diccicco Battista Communications	Phillips Edison – ARC Shopping Center REIT
tdefazio@dbcworks.com	jweingartner@phillipsedison.com
Ph: (484) 342-3600	Ph: (513) 619-5058

FOR IMMEDIATE RELEASE

Phillips Edison–ARC Shopping Center REIT Inc. Acquires a Two Property Portfolio in the Tampa, Florida Metro Area

CINCINNATI, OH, April 8, 2013 — Phillips Edison–ARC Shopping Center REIT Inc. (the “Company”) today announced that it has acquired a portfolio of 2 grocery-anchored shopping centers. Both properties in the portfolio are anchored by Publix grocery stores and located in the Tampa Metro Area. These acquisitions bring the Company’s total portfolio to 39 properties with 14 leading grocers in 16 states, with a portfolio aggregate purchase price of approximately $486.3 million.

The Company is a public non-traded REIT focused on the acquisition and management of well-occupied grocery-anchored neighborhood shopping centers throughout the United States.

Lutz Lake Crossing is a 64,986 square foot shopping center located in Lutz, Florida, approximately 15 miles north of Tampa. The shopping center is anchored by a Publix grocery store, the No. 1 traditional grocer in the Tampa area by market share.  Lutz Lake Crossing is approximately 86.0 percent occupied. 

Publix at Seven Hills is a 72,590 square foot shopping center located in Spring Hill, Florida. The shopping center is anchored by a Publix grocery store, and is approximately 91 percent occupied. 

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 REIT is co-sponsored by two industry leaders: Phillips Edison & Company, who has acquired over $1.8 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 April 8, 2013, Phillips Edison-ARC owned, directly or indirectly through a joint venture in which it has a controlling interest, and managed an institutional quality retail portfolio consisting of 39 grocery-anchored shopping centers totaling 3,838,517 square feet.  For more information on the company, please visit the website at www.phillipsedison-arc.com.