Pennsylvania Real Estate Investment Trust
PRETL
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Joseph F. Coradino
- Full Time Employees
- 149
- Sector
- Real Estate
- Industry
- REIT - Retail
- Address
- One Commerce Square Philadelphia PA United States of America 19103
- IPO Date
- Oct 15, 2012
- Website
- preit.com
- Similar Companies
- Business
- Pennsylvania Real Estate Investment Trust (PREIT), trading under the ticker PRETL on OTC markets, operates as a real estate investment trust (REIT) focused on owning, developing, and managing a portfolio of retail and entertainment properties in high-demand, densely populated markets across the Mid-Atlantic, Northeast, Midwest, and DC Metro regions of the United States. The company's core offerings include thoughtfully designed, community-centric shopping destinations such as Cherry Hill Mall (Cherry Hill, NJ), Willow Grove Park Mall (Willem Grove, PA), Woodland Mall (Grand Rapids, MI), The Mall at Prince George's (Hyattsville, MD), Springfield Town Center (Springfield, VA), Plymouth Meeting Mall (Plymouth Meeting, PA), Valley Mall (Hagerstown, MD), Capital City Mall (Camp Hill, PA), Patrick Henry Mall (Newport News, VA), Dartmouth Mall (Dartmouth, MA), Francis Scott Key Mall (Frederick, MD), Jacksonville Mall (Jacksonville, NC), Viewmont Mall (Scranton/Dickson City, PA), Moorestown Mall (Moorestown, NJ), Magnolia Mall (Florence, SC), Springfield Mall (Springfield, PA, 50% owned with Simon Property Group), and Exton Square (Exton, PA); these properties emphasize mixed-use developments integrating retail, experiential amenities, multifamily housing, hotels, health and tech facilities, essentials and grocery anchors, and entertainment to serve as one-stop hubs for shopping, dining, play, and stay experiences. Founded in 1960 and headquartered at 2005 Market Street in Philadelphia, Pennsylvania, PREIT targets top metropolitan statistical areas (MSAs) with high barrier-to-entry characteristics, primarily serving tenants, retailers, and communities in the retail real estate sector. In a significant strategic shift, PREIT completed a financial restructuring and emerged from its second Chapter 11 bankruptcy in April 2024 after filing in December 2023, slashing over $880 million in debt through a prepackaged plan supported by 100% of its first- and second-lien lenders, with Redwood Capital Management, LLC and Nut Tree Capital Management, LP providing approximately $135 million in debtor-in-possession and exit revolver financing and assuming control as the restructured entity transitions to private ownership. This recapitalization strengthened the balance sheet, nullified existing equity while distributing $10 million to shareholders, and ensured continuity of operations without interruption to vendors or employees, positioning PREIT to focus on evolving its portfolio amid retail sector challenges. No major acquisitions, new product launches, or partnerships have been announced since emergence, with ongoing emphasis on repositioning properties into vibrant, multi-generational mixed-use districts.