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.
I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture. For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments. Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients. I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.