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Phillips Edison & Company, Inc. (NASDAQ: PECO ) shares traded higher Friday after the REIT expanded its joint venture with Northwestern Mutual, raised its 2026 acquisition outlook, and reaffirmed full-year earnings guidance. Northwestern Mutual Venture Expands PECO expanded its joint venture with Northwestern Mutual, w
Phillips Edison & Company amended its joint venture with Northwestern Mutual, extending it to 2036 and adding 13 PECO-owned grocery-anchored centers valued at approximately $377.5 million. Northwestern Mutual will hold approximately 86% and PECO approximately 14% of the added portfolio. PECO will earn recurring fees an
Phillips Edison & Company (PECO) has expanded its joint venture with Northwestern Mutual by $377.5 million. This expansion leverages PECO's operating platform to generate capital for acquiring properties with strong growth potential.