Phillips Edison & Company
Type | Public |
---|---|
Nasdaq: PECO | |
Industry | Real Estate Investment Trust |
Founded | 1991 |
Headquarters | Sycamore Township, Ohio |
Area served | Salt Lake City, Utah New York City Atlanta, Georgia |
Key people |
|
Revenue | US$399.7 million (2015) |
Total assets | US$3 billion (2015) |
Website | www |
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[]
- ^ a b Demeropolis, Tom (June 21, 2016). "EXCLUSIVE: Could this be Cincinnati's next publicly traded company?". Cincinnati Business Courier.
- ^ "Taking Charge". Shopping Center Business. May 2016.
- ^ "Form S-11 Registration Statement". Securities and Exchange Commission. Retrieved 30 January 2017.
- ^ "Form S-11 Registration Statement". Securities and Exchange Commission. Retrieved 30 January 2017.
- ^ "Phillips Edison & Company Announces Division of Strategic Investment and Net Lease Investment Business Units Into Standalone Company". PR Newswire. Retrieved 30 January 2017.
- ^ a b "Jeffrey S. Edison". Bloomberg. Retrieved 30 January 2017.
- ^ "Phillips Edison& Company". INC 5000. 2016.
- ^ "2016 Top Retail Owners". National Real Estate Investor. 2016.
- ^ "Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering". Yahoo! Finance. July 20, 2021.
- ^ "Phillips Edison Spins Off New Standalone". GlobeSt.com. May 14, 2015.
- ^ "Michael C. Phillips". Bloomberg. Retrieved 30 January 2017.
- ^ "Phillips Edison Names Robert F. Myers as Chief Operating Officer". PR Newswire. Retrieved 30 January 2017.
- ^ "Phillips Edison & Company Appoints Tanya Brady as Senior Vice President, General Counsel". PR Newswire. Retrieved 30 January 2017.
External links[]
- Companies based in Ohio
- Property management companies
- Real estate investment trusts of the United States
- Shopping center management firms
- Real estate companies of the United States
- Companies based in Cincinnati
- Financial services companies established in 1991
- Real estate companies established in 1991
- 2021 initial public offerings
- Companies listed on the Nasdaq