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PHILLIPS EDISON - ARC GROCERY CENTER REIT II, INC. FILES (8-K) Disclosing Completion of Acquisition or Disposition of Assets, Other Events, Financial Statements and Exhibits

August 12, 2014

Item 2.01. Completion of Acquisition or Disposition Assets.

Kipling Marketplace

On August 7, 2014, Phillips Edison - ARC Grocery Center REIT II, Inc. (the "Company") purchased, through an indirect wholly-owned subsidiary, a grocery-anchored shopping center containing 90,124 rentable square feet located on approximately 8.69 acres of land in Littleton, Colorado ("Kipling Marketplace") for approximately $12.45 million, exclusive of closing costs. The Company funded the purchase price with proceeds from the offering. Kipling Marketplace was purchased from Terramar Retail Centers, LLC, a Delaware limited liability company, which is not affiliated with the Company, its advisor or its sub-advisor.

Currently, Kipling Marketplace is 96% leased to 19 tenants. Safeway, a market-leading grocery store chain, occupies 50,794 rentable square feet at Kipling Marketplace. Based on the current condition of Kipling Marketplace, the Company's management does not believe that it will be necessary to make significant renovations to the property. The Company's management believes Kipling Marketplace is adequately insured.

Item 8.01. Other Events. Press Release

On August 12, 2014, the Company issued a press release announcing its acquisition of Kipling Marketplace. A copy of such press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description 99.1 Press Release dated August 12, 2014.


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Source: Edgar Glimpses

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