The Pennsylvania Real Estate Investment Trust (NYSE: PEI) is one of the first publicly traded real estate investment trusts, established in 1960 by Sylvan M. Cohen (died September 8, 2001).
The PREIT corporate offices are located in Philadelphia, Pennsylvania. It focuses on shopping centers in the eastern United States, particularly in the mid-Atlantic states of Pennsylvania, New Jersey and Maryland. As of June 7, 2012, Joseph F. Coradino is the chief executive officer.
In 1997 PREIT merged with the Rubin Organization, a commercial property development and management firm. In 2003 the firm changed its strategic focus from a diversified property base to retail. During that year PREIT acquired six shopping malls from The Rouse Company, sold several multifamily residential properties, and completed a merger with Crown American Realty Trust.
Read more about Pennsylvania Real Estate Investment Trust: List of Malls
Famous quotes containing the words pennsylvania, real, estate, investment and/or trust:
“The Republican Party does not perceive how many his failure will make to vote more correctly than they would have them. They have counted the votes of Pennsylvania & Co., but they have not correctly counted Captain Brown’s vote. He has taken the wind out of their sails,—the little wind they had,—and they may as well lie to and repair.”
—Henry David Thoreau (1817–1862)
“The danger of crippling thought, the danger of obstructing the formation of the public mind by specially suppressing ... representations is far greater than any real danger that there is from such representations.”
—George Bernard Shaw (1856–1950)
“Never let the estate decrease in your hands. It is only by such resolutions as that that English noblemen and English gentlemen can preserve their country. I cannot bear to see property changing hands.”
—Anthony Trollope (1815–1882)
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Quotations—always inexact. I don’t trust people who cannot even copy out.”
—Jean Rostand (1894–1977)