Phillips Edison acquires Aegis Realty

Phillips Edison & Co. recently announced the completion of its merger transaction with the publicly traded Aegis Realty Inc., and acquisition of the Aegis portfolio of 27 grocery-anchored shopping centers totaling 3.1 million sq. ft. The addition of these properties expands Phillips Edison’s ownership portfolio to 8 million sq. ft. in 67 shopping centers. This transaction merged Aegis with a subsidiary of the privately owned Phillip Edison. As a result of the merger, Aegis ceased trading publicly at the close of business on March 26. In a press release, Jeffrey Edison, principal of Phillips Edison, said, "The Aegis portfolio offered an exceptional opportunity for us to pursue our nationwide expansion mission. Like our existing holdings, the Aegis properties are well-located, supermarket-anchored centers, sharing many of the anchors with whom we already have strong relationships. The geographic diversity of the Aegis portfolio across 14 states also met the criteria of our expansion program. The properties are ideal additions to our portfolio and we are extremely pleased with the successful completion of this transaction."

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