On October 31, 2019, Phillips Edison Grocery Center REIT III, Inc. was successfully acquired by Phillips Edison & Company, Inc. through a merger transaction.

The proposal to approve the merger transaction was approved by over 95.5% of the shares which voted on the matter at the October 30, 2019 Special Meeting of Stockholders, and previously, the transaction was approved by the independent special committee of PECO III’s board of directors, which retained independent financial and legal advisors.