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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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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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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Formerly Farmland, New Mixed-Use Community Planned for New Garden Township
Stonewall Capital, a Baltimore-area developer, is planning a massive mixed-use project on former farmland in New Garden Township, writes Melody Simmons for the Philadelphia Business Journal. …
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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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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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Developer Plans to Blend Suburbia and City Life in Redevelopment of Exton Square Mall
Abrams Realty & Development aims to combine the best of suburban charm and city living in the mixed-use redevelopment of the struggling Exton Square Mall,…
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Abrams Realty Buys Exton Square Mall, Plans to Build New Homes and Limited Commercial Space
Exton Square Mall officially has a new owner as of Tuesday, with PREIT selling the beleaguered property to Abrams Realty & Development, writes Jake Blumgart…
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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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PREIT’s New CEO Considered Redeveloping Exton Square Mall Before Deciding to Sell
PREIT considered redeveloping Exton Square Mall before ultimately deciding to sell the property to generate funds for paying down debt, writes Paul Schwedelson for the…
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Local Malls Reinvent the Retail Experience to Keep Relevant
As local malls adapt to shifting consumer habits, the King of Prussia Mall, Plymouth Meeting Mall, and Willow Grove Park Mall exemplify varied approaches to…
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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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PREIT’s New Leadership Keeps Exton Square Mall On List of Properties for Sale
The Exton Square Mall has remained up for sale under PREIT’s new leadership, writes Paul Schwedelson for the Philadelphia Business Journal. The Philadelphia company which…
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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 Exton Square Mall and others, is looking to add as many as 7,000 apartments to six of its mall…
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Exton Square Mall’s Owner, PREIT, Takes Steps to Strengthen Future of Business
PREIT, a leading operator of diverse retail and experiential destinations, is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its…
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Exton Square Mall CEO Believes New Mall Consumers ‘Value Experiences Over Goods’
Joseph Coradino, CEO of PREIT, owner of the Exton Square 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 Exton Square Mall May Have to File for Bankruptcy Again
Philadelphia-based PREIT could be heading for another bankruptcy filing just under a month before its credit facilities with a $1.1 billion balance are set to…
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