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PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as Pennsylvania Real Estate Investment Trust.
 | |
| Company type | Private |
|---|---|
| ISIN | US7091021078  |
| Industry | Real estate investment trust |
| Founded | 1960 |
| Founder | Sylvan M. Cohen |
| Headquarters | Philadelphia, Pennsylvania, U.S. |
Key people | Jared Chupaila, CEO Glenn Rufrano, Executive chairman |
| Products | Shopping centers |
| Website | preit |
The company was founded by Sylvan M. Cohen (1914-2001) in 1960.[1] In 1997, the company acquired the Rubin Organization for $260 million.[2] In 2003, the company acquired 6 shopping malls from The Rouse Company.[3][4] The company also acquired Crown American.[5]
In 2012, Joseph Coradino was named chief executive officer of the company.[6]
The company filed for Chapter 11 bankruptcy protection on November 1, 2020, and exited bankruptcy protection on December 11, 2020.[7][8][9][10]
On December 10, 2023, PREIT once again filed for Chapter 11 bankruptcy protection.[11] The company exited its bankruptcy proceedings in April 2024 under the ownership of its former lenders and appointed Jared Chupaila as CEO.[12][13]
Notable properties owned by PREIT are as follows:
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