Recent events
Recent events tied to this brand in public sources.
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2021
PREIT amends mortgage loan secured by Woodland Mall
PREIT announced that it had entered into an amendment to the mortgage loan secured by Woodland Mall. The amendment extended the maturity date to December 10, 2021, with a 12-month extension option, revised the interest rate and reduced the guaranty to $10 million, subject to restrictions on lenders exercising rights and remedies.
2020
PREIT completes financial restructuring
PREIT announced that it completed its financial restructuring and emerged from Chapter 11. It said it had access to up to $130 million of new capital and that its debt maturity schedule had been extended.
2020
Pennsylvania Real Estate Investment Trust files for bankruptcy
Pennsylvania Real Estate Investment Trust also filed for bankruptcy protection on Monday, November 2, 2020. The article reports that its malls would remain open during the bankruptcy process.
2020
PREIT files for bankruptcy as part of restructuring
PREIT filed for bankruptcy as part of a financial restructuring after its restructuring plan received 95% lender backing. The filing was reported to allow its properties to continue operating without disruption while it finalized the restructuring.