Skip to content
Business
Link copied to clipboard
Link copied to clipboard

Why did 2 big U.S. real estate operators take over post-bankrupt Philly mall owner PREIT?

PREIT reduced its debt load in bankruptcy reorganization by $800 million but still has to manage payments on more than $1 billion in other debt at today’s higher rates.

Some of PREIT's properties, especially the Cherry Hill Mall, are among the biggest shopping destinations in the Philadelphia region.
Some of PREIT's properties, especially the Cherry Hill Mall, are among the biggest shopping destinations in the Philadelphia region.Read moreJOSE F. MORENO / Staff Photographer