PREIT
U.S. real estate company
title: "PREIT" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["pennsylvania-real-estate-investment-trust", "1960-establishments-in-pennsylvania", "american-companies-established-in-1960", "companies-based-in-philadelphia", "companies-formerly-listed-on-the-new-york-stock-exchange", "companies-that-filed-for-chapter-11-bankruptcy-in-2020", "companies-that-filed-for-chapter-11-bankruptcy-in-2023", "financial-services-companies-established-in-1960", "real-estate-companies-established-in-1960", "real-estate-investment-trusts-of-the-united-states", "shopping-center-management-firms"] description: "U.S. real estate company" topic_path: "economics" source: "https://en.wikipedia.org/wiki/PREIT" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary U.S. real estate company ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | PREIT |
| logo | PREIT Logo.svg |
| type | Private |
| industry | Real estate investment trust |
| foundation | |
| founder | Sylvan M. Cohen |
| location | Philadelphia, Pennsylvania, U.S. |
| key_people | Jared Chupaila, CEO |
| Glenn Rufrano, Executive chairman | |
| products | Shopping centers |
| website | |
| :: |
| name = PREIT | logo = PREIT Logo.svg | type = Private | traded_as = | industry = Real estate investment trust | foundation = | founder = Sylvan M. Cohen | location = Philadelphia, Pennsylvania, U.S. | key_people = Jared Chupaila, CEO Glenn Rufrano, Executive chairman | products = Shopping centers | website = | footnotes =
PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as the Pennsylvania Real Estate Investment Trust.
History
The company was founded by Sylvan M. Cohen (1914-2001) in 1960 following the passage of the Real Estate Investment Trust Act, which allowed real estate trusts to access money from public investment. In 1997, the company acquired The Rubin Organization for $260 million, and founder and chief executive officer Ronald Rubin became CEO of PREIT. In 2003, the company acquired six shopping malls from The Rouse Company. The company also acquired Crown American.
In 2012, Joseph Coradino was named chief executive officer of the company.
The company filed for Chapter 11 bankruptcy protection on November 1, 2020, and exited bankruptcy protection on December 11, 2020.
On December 10, 2023, PREIT once again filed for Chapter 11 bankruptcy protection. The company exited its bankruptcy proceedings in April 2024 as a private company under the ownership of its former lenders and appointed Jared Chupaila as CEO.
Portfolio
Notable properties owned by PREIT are as follows:
::data[format=table]
References
References
- Spires, Sheila W.. (October 1, 2001). "PREIT founder and chairman Sylvan Cohen dies at 87". [[National Real Estate Investor]].
- WSJ Staff. (2023-10-14). "This Day in 1960: Eisenhower Signs Real Estate Investment Trust Act". The Wall Street Journal.
- (August 1, 1997). "Rubin Organization is Being Sold for $260 Million". [[The New York Times]].
- (1997-08-01). "RUBIN ORGANIZATION AGREES TO BE BOUGHT".
- (June 5, 2003). "Pennsylvania Real Estate Investment Trust Completes Rouse Transaction; Company Closes Acquisition of Remaining Two Shopping Malls from The Rouse Company". [[Business Wire]].
- (March 7, 2003). "REIT is Buying 6 Philadelphia-Area Mall From Rouse". [[The New York Times]].
- (November 20, 2003). "Pennsylvania Real Estate Investment Trust Announces Completion of Merger with Crown American Realty Trust". [[Business Wire]].
- (June 7, 2012). "Joseph Coradino Becomes Chief Executive Officer of PREIT". [[Business Wire]].
- (December 11, 2020). "PREIT, co-owner of Lehigh Valley Mall, emerges from bankruptcy". [[The Morning Call]].
- (November 2, 2020). "PREIT, co-owner of Lehigh Valley Mall, files for bankruptcy with plans to quickly restructure". [[The Morning Call]].
- (November 2, 2020). "Viewmont mall owner PREIT files for bankruptcy in restructuring bid amid COVID-19 headwinds". [[Scranton Times-Tribune]].
- (November 14, 2023). "Mall Landlord PREIT Faces $1.1 Billion in Debt Payments Next Month". [[CoStar Group]].
- (December 11, 2023). "Pennsylvania Real Estate Investment Trust".
- (April 2, 2024). "PREIT exits Chapter 11, new CEO takes over".
- (2024-04-03). "Philly mall owner PREIT emerges from its second bankruptcy with new leadership".
::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::