On October 1, 2026, Phillips Edison & Company announced the expansion of its joint venture with Northwestern Mutual through a transaction valued at approximately $377.5 million. The expanded Grocery Retail Partners I LLC extends to 2036 and will acquire 13 high-quality, grocery-anchored shopping centers across eight states, with Northwestern Mutual retaining an 86% interest and PECO a 14% interest. Concurrently, the company reaffirmed its full year 2026 earnings guidance, including Nareit FFO per diluted share of $2.67–$2.72 and Core FFO per diluted share of $2.73–$2.79. PECO increased its gross acquisitions guidance to a range of $600 million to $700 million and updated disposition expectations to $200 million to $250 million. Phillips Edison & Company operates in the real estate industry, specifically owning and operating grocery-anchored neighborhood shopping centers.
