Pennsylvania Real Estate Investment Trust (PEI) Company Bio
Pennsylvania Real Estate Trust owns, manages, develops, acquires, and leases mall and power and strip centers primarily in the Eastern United States. The company was founded in 1960 and is based in Philadelphia, Pennsylvania.
Pennsylvania REIT (PEI) enters loan amendments to suspend certain debt covenants for the period of June 30-Aug. 31, 2020 and to reduce the minimum liquidity requirements under the loan agreements.The agreement pertains to its seven-year term loan dated Jan. 8, 2014 and its 2018 credit agreement.PEI continues talks with its...
Today, PREIT enthusiastically celebrates its suburban shopping mall reopening timeline and highlights meaningful results in its opened portfolio. In the path toward restoring full operations, PREIT has prioritized creating a safe environment for its customers. In addition to adhering to government and CDC operating standards, PREIT makes complimentary masks available for all customers upon entering. PREIT is particularly pleased that upon reopening, their properties will provide employment for over 30,000 employees while contributing over $60,000,000 annually of real estate tax revenue in their communities in addition to millions of dollars in sales tax revenue. As a key economic engine these funds will support critical municipal services, schools and communities.