PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as Pennsylvania Real Estate Investment Trust.

History

The company was founded by Sylvan M. Cohen (1914-2001) in 1960. In 1997, the company acquired the Rubin Organization for $260 million. In 2003, the company acquired 6 shopping malls from The Rouse Company. The company also acquired Crown American. In 2012, Joseph Coradino was named chief executive officer of the company. The company filed for Chapter 11 bankruptcy protection on November 1, 2020, and exited bankruptcy protection on December 11, 2020. On December 10, 2023, PREIT once again filed for Chapter 11 bankruptcy protection. The company exited its bankruptcy proceedings in April 2024 under the ownership of its former lenders and appointed Jared Chupaila as CEO.

Portfolio

Notable properties owned by PREIT are as follows: