Item 8.01. Other Events On January 9, 2014 , Phillips Edison - ARC Grocery Center REIT II, Inc. (the "Company") satisfied the $2,000,000 minimum offering amount for its initial public offering, broke escrow and issued shares in the offering. The initial purchases of shares in the offering were made by Jeffrey Edison , the Company's Chairman and Chief Executive Officer, Michael Phillips , John Edison and AR Capital, LLC , one of the Company's sponsors, in the amounts of $750,000 , $450,000 , $400,000 and $400,000 , respectively. Subscriptions from residents of Ohio , Pennsylvania and Washington will continue to be held in escrow until the Company has received aggregate subscriptions of at least $20.0 million , $100.0 million and $20.0 million , respectively.
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