Phillips Edison & Company Acquisition of Pinecrest Portfolio

Deal value: $87 million

Phillips Edison & Company acquired the Pinecrest Portfolio, consisting of three grocery-anchored neighborhood centers totaling 210,000 square feet in Atlanta, Georgia, anchored by Kroger and Publix.

The core investment motivation is to expand Phillips Edison & Company's portfolio of grocery-anchored neighborhood centers, leveraging the stability and consistent foot traffic provided by top-tier grocers like Kroger and Publix. The strategic purpose is to reinforce PECO’s focus on necessity-based retail, which is resilient to economic cycles and benefits from high tenant retention and predictable cash flows. This acquisition aligns with PECO’s long-term plan to deliver steady NOI and FFO growth by targeting high-quality, right-sized centers in strong demographic markets. The timing reflects both available capital and a favorable market for acquiring necessity-based retail assets.