Phillips Edison Extends Northwestern Mutual JV by 10 Years

04:23 AM EDT, 10/02/2026 (MT Newswires) -- Phillips Edison (PECO) extended its joint venture with Northwestern Mutual by 10 years to generate additional investment capacity, Phillips Edison said late Thursday. The expanded Grocery Retail Partners venture will acquire 13 US grocery-anchored shopping centers owned and operated by Phillips Edison, with the portfolio valued at roughly $377.5 million. Northwestern Mutual and Phillips Edison will retain about 86% and 14% stake in the venture, respectively, Phillips Edison said.