Pennsylvania Real Estate Investment Trust is a publicly traded real estate investment trust that invests in shopping centers in the Mid-Atlantic states.
Video Pennsylvania Real Estate Investment Trust
Investments
As of December 31, 2016, the company owned 30 properties in 9 states containing 21.7 million square feet.
Notable properties owned by the company include the following:
The company's largest tenants are as follows:
Maps Pennsylvania Real Estate Investment Trust
History
The company was founded by Sylvan M. Cohen in 1960 as one of the first equity REITs.
In 1997, the company acquired the Rubin Organization for $260 million.
In 2001, founder Sylvan Cohen died.
In 2003, the company acquired 6 shopping malls from The Rouse Company. The company also acquired Crown American Realty Trust.
In 2006, the company acquired Woodland Mall for $177.4 million.
In 2012, Joseph Coradino was named chief executive officer of the company.
In 2013, the company sold 2 shopping centers for $87.3 million.
In 2014, the company acquired a building in Philadelphia.
In 2015, the company acquired Springfield Town Center for $465 million from Vornado Realty Trust.
In 2016, the company sold 4 malls for $93 million.
References
External links
Source of article : Wikipedia
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