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| Edison |
Phillips Edison - ARC shopping center REIT, Inc. (the "Company") is a subscription service, non-commercial REIT focused on grocery anchored neighborhood and community shopping centers, today announced operating results for three months and six months ended June 30, 2011. The company uses cash flow has changed ("MFFO"), as defined below, was $ 190,000 in the second quarter, and distributions of $ 190,000. In addition, the company purchased the St. Charles Plaza, a Publix anchored shopping center is on the market 65 000 Haines City, Florida, at the center of Orlando and Tampa is 10.1 million. The Company believes that it was able to purchase this property on favorable terms through a forced sale, because it is able to exercise due diligence and close the transaction quickly.
"We will continue the pace as we head into the third quarter of 2011"
"We will continue the pace as we head into the third quarter of 2011," said John Bessey, Phillips Edison President - ARC shopping center REIT, Inc. "As the second quarter ended, we have demonstrated success and plans are in place, said before the acquisition strategy and consistent performance, a strong product portfolio at the same time, we have seen over seven times. the funds raised through our relationship with American Realty Capital, and we expect this momentum will continue in the coming months. This series can take advantage of growth opportunities for the esophagus, the centers are still ongoing. "
"We are seeing a steady supply of grocery anchored centers, and yet we were able to be selective and strategic in our ranking of the capital," said Jeffrey S. Edison, the CEO of the company. "As you increase the speed of our funding, our team has worked aggressively to acquire to implement equity investors quickly and efficiently to take advantage of numerous acquisition opportunities under consideration. We hope to be among the centers the most active buyers of commercial quality embedded in the coming months and years ahead. "
"We will continue the pace as we head into the third quarter of 2011"
"We will continue the pace as we head into the third quarter of 2011," said John Bessey, Phillips Edison President - ARC shopping center REIT, Inc. "As the second quarter ended, we have demonstrated success and plans are in place, said before the acquisition strategy and consistent performance, a strong product portfolio at the same time, we have seen over seven times. the funds raised through our relationship with American Realty Capital, and we expect this momentum will continue in the coming months. This series can take advantage of growth opportunities for the esophagus, the centers are still ongoing. "
"We are seeing a steady supply of grocery anchored centers, and yet we were able to be selective and strategic in our ranking of the capital," said Jeffrey S. Edison, the CEO of the company. "As you increase the speed of our funding, our team has worked aggressively to acquire to implement equity investors quickly and efficiently to take advantage of numerous acquisition opportunities under consideration. We hope to be among the centers the most active buyers of commercial quality embedded in the coming months and years ahead. "
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