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Posted: October 28, 2013
Phillips Edison-ARC acquires 97,591 s/f Red Maple Village in CA
Phillips Edison-ARC Shopping Center REIT Inc. revealed the acquisition of Red Maple Village, a 97,591 s/f shopping center anchored by a Raley's grocery store.
Red Maple Village is currently 98.7% occupied. When combined with the Raley's ease, 72% of the rents for the shopping center are derived from national tenants.
With the acquisition of Red Maple Village, the Company's current portfolio is comprised of interests in 57 properties anchored by 23 leading grocers in 20 states, with an aggregate portfolio purchase price of $841 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.
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