PREIT
PREIT is a privately held real estate investment trust that owns and develops shopping centers, primarily in the Mid-Atlantic region.
Founded in 1960, it focuses on transforming traditional malls into mixed-use, community-centric hubs. PREIT emerged from its second bankruptcy in 2024 and is now privately owned.
Address: 2005 Market Street, Suite 1120, Philadelphia, PA 19103
Phone: (215) 875-0700
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With Its $1.1 Billion Debt Coming Due, Owner of Springfield Mall May Have to File for Bankruptcy Again
Philadelphia-based PREIT, owner of the Springfield Mall, could be heading for another bankruptcy filing just under a month before its credit facilities with a $1.1…
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Springfield Mall Owner PREIT Avoids Major Leadership Shakeup
PREIT, which owns retail properties including the Springfield Mall, avoided what could have been a major leadership shakeup by rejecting resignations from seven board members,…
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7 Board Members of Springfield Mall Owner, PREIT, Send in Resignations
Due to a lack of shareholder votes, seven out of the nine board members of PREIT have tendered their resignations, and while they are not…
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Springfield Mall Owner Sees Strong Sales and Mall Occupancy, But a Large Debt
PREIT CEO Joseph F Coradino reports the firm is seeing high mall occupancy, strong sales, and foot traffic closer to 2019, levels, Even so, PREIT,…
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PREIT Looks to Sell Plymouth Meeting, Exton Square Malls
PREIT is looking to sell off two area malls as it works to generate cash ahead of a loan deadline, writes Paul Schwedelson for Philadelphia…
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NYSE Suspends Shares of PREIT, Springfield Mall Owner
Pennsylvania Real Estate Investment Trust, the owner of the Springfield Mall, Plymouth Meeting Mall, and Willow Grove Park Mall, is being booted off the New…
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PREIT, Springfield Mall Owner, Explores Sale or Merger
PREIT, the owner of the Springfield Mall and several other malls in the Philadelphia region, is exploring a possible merger or sale, writes Paul Schwedelson…
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Springfield Mall Owner PREIT Sees Bright Future Despite Debt Obstacles
There’s a sense of optimism from PREIT CEO Joe Coradino, as the company that owns the Springfield Mall and other malls in the region works…
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Springfield Mall Owner PREIT Brings Down Debt with $35M in Land Sales
PREIT, owner of the Springfield Mall, Plymouth Meeting Mall and Willow Grove Park Mall, has made progress on its debt payments with $35 million in…
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Springfield Mall Owner PREIT Fights for Execs Amid Struggle
PREIT, the owner of the Springfield Mall, Plymouth Meeting Mall, Cherry Hill Mall and Willow Grove Mall, is paying retention bonuses to certain employees “in…
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PREIT, Owner of Springfield Mall, Plans Apartments on Some Mall Properties to Shore Up Debt
PREIT, the owner of the Springfield Mall and other mall properties in the region, is taking a new approach to pull itself out of $2…
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Springfield Malls’ PREIT Releases KPMG as Auditor After 2 Decades
PREIT has dismissed their auditor KPMG, and has brought on a new accounting firm, says the Securities and Exchange Commission. Natalie Kostelni reports the latest…
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Springfield Mall Owner PREIT Worried About Staying in Business
Pennsylvania Real Estate Investment Trust (PREIT), the owner of the Springfield Mall, has “substantial doubt” about being able to remain in business over the next…
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Springfield Malls’ PREIT Faces Investor Challenge
Pennsylvania Real Estate Investment Trust (PREIT), the owner of Plymouth Meeting Mall and Willow Grove Mall, faces another challenge as it continues to struggle to…
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Springfield Mall’s PREIT: 2021 Had Strong Anchor, Tenant Mix Driving Sales
Pennsylvania Real Estate Investment Trust, owner of the Springfield Mall, as well as the Plymouth Meeting Mall and Willow Grove Mall, closed 2021 on a…
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With Stock Shares Under $1, PREIT Faces Delisting From NYSE
As its shares continue to linger under $1, Pennsylvania Real Estate Investment Trust, the owner of the Springfield Mall, the Plymouth Meeting Mall and the…
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PREIT, Owner of Springfield Mall, Reports Strong Sales During Holiday Season and Unveils 2022 Strategy
PREIT, otherwise known as the Pennsylvania Real Estate Investment Trust, has announced its sales report with a focus on traffic during the holiday season. They’ve…
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PREIT, Owner of Springfield Mall, Issues First-ever Sustainability Report
Pennsylvania Real Estate Investment Trust (PREIT), the owner of the Springfield Mall, has issued its inaugural sustainability report. The report highlights PREIT’s efforts to position…
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