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Cincinnati —Cincinnati-based Phillips Edison Grocery Center REIT II Inc. and TPG Real Estate have formed a partnership to acquire high-quality, value-added grocery-anchored shopping centers throughout the U.S.
The partnership will invest up to $250 million of equity and plans to leverage this capital to achieve a $750 million acquisition target. The partnership plans to acquire six grocery-anchored shopping centers and will focus on growing the platform through add-on acquisitions located in fundamentally strong markets that present attractive return potential through operational and capital improvements.