Phillips Edison & Company

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Phillips Edison & Company
TypePublic
Nasdaq: PECO
IndustryReal Estate Investment Trust
Founded1991 (1991)
HeadquartersSycamore Township, Ohio
Area served
Salt Lake City, Utah
New York City
Atlanta, Georgia
Key people
  • Jeffery Edison (CEO)
  • Mike Phillips (Principal)
RevenueIncrease US$399.7 million (2015)
Total assetsIncrease US$3 billion (2015)
Websitewww.phillipsedison.com

Phillips Edison & Company is an American owner, operator, acquirer, and developer of shopping centers throughout the US.[1] Founded in 1991, the Company is headquartered in Sycamore Township, Ohio, and has offices in Salt Lake City, Utah, New York City, New York and Atlanta, Georgia.

Phillips Edison & Company has doubled in size every three years for the past 25 years.[2]

History[]

After leaving Taubman Centers, Mike Phillips and Jeff Edison created Phillips Edison & Company to invest in community and neighborhood shopping centers. The two acquired their first property in 1992, and subsequently began investing other properties across the country through a series of private funds.

In 2010, Phillips Edison & Company launched Phillips Edison—ARC Shopping Center REIT Inc., the first of two non-traded real estate investment trusts (REITs).[3] In 2013, Phillips Edison & Company created Phillips Edison – ARC Grocery Center REIT II, Inc.[4] Phillips Edison & Company rebranded its non-traded REITs in [2014] as Phillips Edison Grocery Center REIT I and Phillips Edison Grocery Center REIT II.

In 2015, Phillips Edison & Company separated its Strategic Investment and Net Lease Investment business units into a standalone company called PECO Real Estate Partners, allowing Phillips Edison & Company to “focus exclusively on growing and enhancing the value of its grocery-anchored shopping center portfolio.”[5]

Jeff Edison serves as Phillips Edison & Company’s Principal and Chief Executive Officer.[6]

In 2016, Phillips Edison & Company was ranked in Inc. (magazine) as one of the 5,000 fastest-growing private firms in the nation[7] and the 14th largest retail owner by square footage by National Real Estate Investor.[8]

In July 2021, the company went public on the Nasdaq, under symbol PECO.[9]

Business Model[]

Phillips Edison & Company has in-house leasing, property management, accounting, acquisitions, dispositions, development and financing teams.[1] The Company is focused exclusively on “investing in grocery-anchored shopping centers.”[10]

Corporate governance[]

Post Holder
Principal and Chief Executive Officer Jeffrey S. Edison (1995 – present)[6]
Principal Michael C. Phillips (1995 – present)[11]
President Devin I. Murphy (2019–present)
Chief Financial Officer John Caulfield (2019-present)
Chief Operating Officer Robert F. Myers (2010– present)[12]
Senior Vice President and General Counsel Tanya Brady (2015–present)[13]

See also[]

  • Shopping property management firms

References[]

  1. ^ a b Demeropolis, Tom (June 21, 2016). "EXCLUSIVE: Could this be Cincinnati's next publicly traded company?". Cincinnati Business Courier.
  2. ^ "Taking Charge". Shopping Center Business. May 2016.
  3. ^ "Form S-11 Registration Statement". Securities and Exchange Commission. Retrieved 30 January 2017.
  4. ^ "Form S-11 Registration Statement". Securities and Exchange Commission. Retrieved 30 January 2017.
  5. ^ "Phillips Edison & Company Announces Division of Strategic Investment and Net Lease Investment Business Units Into Standalone Company". PR Newswire. Retrieved 30 January 2017.
  6. ^ a b "Jeffrey S. Edison". Bloomberg. Retrieved 30 January 2017.
  7. ^ "Phillips Edison& Company". INC 5000. 2016.
  8. ^ "2016 Top Retail Owners". National Real Estate Investor. 2016.
  9. ^ "Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering". Yahoo! Finance. July 20, 2021.
  10. ^ "Phillips Edison Spins Off New Standalone". GlobeSt.com. May 14, 2015.
  11. ^ "Michael C. Phillips". Bloomberg. Retrieved 30 January 2017.
  12. ^ "Phillips Edison Names Robert F. Myers as Chief Operating Officer". PR Newswire. Retrieved 30 January 2017.
  13. ^ "Phillips Edison & Company Appoints Tanya Brady as Senior Vice President, General Counsel". PR Newswire. Retrieved 30 January 2017.

External links[]

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