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EX-99.1 - EXHIBIT 99.1 - PHILLIPS EDISON GROCERY CENTER REIT II, INC. | v387843_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): August 27, 2014 (August 26, 2014)
_____________________________________________
PHILLIPS EDISON – ARC GROCERY CENTER REIT II, INC.
(Exact name of registrant as specified in its charter)
_____________________________________________
Maryland | 333-190588 | 61-1714451 |
(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 2.01. Completion of Acquisition or Disposition Assets.
Kings Crossing
On August 26, 2014, Phillips Edison - ARC Grocery Center REIT II, Inc. (the “Company”) purchased, through an indirect wholly-owned subsidiary, a grocery-anchored shopping center containing 75,020 rentable square feet located on approximately 9.81 acres of land in Sun City Center, Florida (“Kings Crossing”) for approximately $14.0 million, exclusive of closing costs. The Company funded the purchase price with proceeds from its offering. Kings Crossing was purchased from RC FL-King’s Crossing, LLC, a Delaware limited liability company, which is not affiliated with the Company, its advisor or its sub-advisor.
Currently, Kings Crossing is 97% leased to 15 tenants. Publix, a market-leading grocery store chain, occupies 51,420 rentable square feet at Kings Crossing. Based on the current condition of Kings Crossing, the Company’s management does not believe that it will be necessary to make any significant renovations or improvements to the property. The Company’s management believes Kings Crossing is adequately insured.
Item 8.01. Other Events.
Press Release
On August 27, 2014, the Company issued a press release announcing its acquisition of Kings Crossing. A copy of such press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) |
Exhibits
|
Exhibit No. | Description |
99.1 | Press Release dated August 27, 2014. |
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 GROCERY CENTER REIT II, INC. | ||
Dated: August 27, 2014 | By: | /s/ R. Mark Addy |
R. Mark Addy | ||
Co-President and Chief Operating Officer |
EXHIBIT INDEX
Exhibit No. | Description | |
99.1 | Press Release dated August 27, 2014 |