Phillips Edison & Company Reveals $377.5M Expansion Of Joint Venture With Northwestern Mutual; Northwestern Mutual And PECO Will Retain Approximately 86% And 14% Interest In The Joint Venture, Respectively

Phillips Edison & Company (NASDAQ: PECO) has announced a $377.5 million expansion of its joint venture with Northwestern Mutual, extending the partnership term of Grocery Retail Partners I LLC to 2036. The joint venture will acquire 13 grocery-anchored shopping centers across eight states, with Northwestern Mutual holding an 86% interest and PECO retaining 14%. PECO will continue to manage leasing and property services for the venture, which will enhance its capacity for future investments.