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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Springfield Mall Through the Years: A Delaware County Memory Machine
For most of us who grew up in Delaware County, the Springfield Mall isn’t really a building. It’s a feeling. It’s the smell of the food court on a Saturday. The…
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Lender Puts Willow Grove Park Mall on Market Following Matured $170M Debt
The majority of Willow Grove Park Mall, one of the largest shopping malls in the region, has been put on the market by a lender…
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New Garden’s $300 Million Mixed-Use Project Could Ease Chester County Housing Crunch
Baltimore-based Stonewall Capital recently acquired a 187-acre property in New Garden Township with plans for a $300 million mixed-use development, writes Ryan Mulligan for the Philadelphia Business Journal. Local…
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Four Developing Projects Coming to Chester County in 2026
Chester County is the place for building, with permits and projects sprouting up every day to take up the next available space. Whether it’s housing,…
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$100M Redevelopment Aims to Turn Plymouth Meeting Mall Into Montco’s Next Town Center
A major transformation is on the horizon for the Plymouth Meeting Mall, writes Paul Schwedelson for the Philadelphia Business Journal. Philadelphia-based LA Partners, formerly known…
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Redevelopment of Exton Mall Among Mixed-Use Projects Reshaping Philadelphia Suburbs
The redevelopment of the Exton Square Mall by Abrams Realty & Development is among the growing number of projects reshaping Philadelphia’s suburbs, writes Paul Schwedelson…
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Boscov’s Set to Outlive Exton Square Mall as New Owner Plans Mixed-Use Town Center to Replace It
With many department store giants, including Macy’s and JCPenney, closing stores during the years-long retail apocalypse, Boscov’s has stayed afloat and expanded, writes Noah Zucker…
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Keystone Begins Transformation of Plymouth Meeting Mall Office into Luxury Apartments
Keystone Development + Investment began converting a long-vacant office building next to the Plymouth Meeting Mall into a modern residential community, writes Kevin Tierney for…
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Local Developer Moves to Acquire Exton Square Mall
Elkins Park-based Abrams Realty & Development is in the process of acquiring the Exton Square Mall with plans to revitalize the struggling property, writes Paul…
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Exton Mall Owner PREIT Going Private After Emerging from Bankruptcy for Second Time
PREIT, the owner of Exton Square Mall, is set to go private after it emerged from bankruptcy protection for the second time in four years,…
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Willow Grove Mall CEO Believes New Consumers ‘Value Experiences Over Goods’
Joseph Coradino, CEO of PREIT, owner of the Willow Grove Mall, took a hard look at its portfolio well before the onset of the pandemic,…
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With Its $1 Billion Debt Coming Due, Owner of Moorestown, Willow Grove Malls May Have to File for Bankruptcy Again
Philadelphia-based PREIT, owner of Moorestown and Willow Grove malls, could be heading for another bankruptcy filing just under a month before its credit facilities with…
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PREIT Looks to Maximize Remaining Mall Properties by Adding Up To 7,000 Apartments
PREIT, the Philadelphia-based owner of the Plymouth Meeting Mall and Willow Grove Mall, is looking to add as many as 7,000 apartments to six of…
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NYSE Suspends Trading in PREIT Shares, Starts Stock Delisting Process
Pennsylvania Real Estate Investment Trust, the owner of Plymouth Meeting Mall and Willow Grove Park Mall, is being booted off the New York Stock Exchange,…
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Willow Grove and Plymouth Meeting Malls’ PREIT Soars Following Reverse Stock Split
PREIT, owner of Plymouth Meeting Mall and Willow Grove Park Mall, has executed a 1-to-15 reverse stock split to boost its share price and prevent…
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Willow Grove Malls’ PREIT Makes Dent in Its Debt with $35M in Land Sales
PREIT, owner of Willow Grove Park Mall, has made progress on its debt payments with $35 million in land sales, writes Matthew Rothstein for Bisnow.…
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Willow Grove Park Mall Owner to Dodge Exec Flight: Paying to Tamp Down Straying
PREIT, the owner of Willow Grove Mall (and others), is paying retention bonuses to certain employees “in an effort to ensure continuity and stability and…
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PREIT Reports 1Q22 Results, Ahead of New Family Entertainment Center at Willow Grove Park
The Pennsylvania Real Estate Investment Trust (PREIT) has released its 1Q22 results, including performance stats for Willow Grove Park’s new family fun center. “Our portfolio…
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