Mar 10 2016 | by DI Wire
Phillips Edison Grocery Center REIT II Inc., a publicly registered, non-traded real estate investment trust, released its operating results for the year ended December 31, 2015.
On September 15, 2015, Phillips Edison Grocery Center REIT II, which intended to raise $2 billion in its initial public offering, terminated early after raising $1.1 billion. The unsold shares were reallocated to its distribution reinvestment plan, which the company continues to offer to investors.
In 2015, the company generated a net loss of $6.7 million, compared to a net loss of $5.8 million for the comparable 2014 period. The company generated modified funds from operations of $28.6 million, compared to MFFO of $2.7 million for the comparable 2014 period. This growth was primarily the result of additional property acquisitions, according to the company.
