PREIT (PEI) Misses Q2 FFO by 3c, Updates FY Outlook

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PREIT (PEI) to Sell Three Malls in $95.4M Deal

July 29, 2015 6:28 AM EDT

Pennsylvania Real Estate Investment Trust ("PREIT") (NYSE: PEI) announced entering into an Agreement of Sale for three malls to an institutional buyer. The assets under agreement of sale, which are subject to customary closing conditions, are: Gadsden Mall in Gadsden, AL, Wiregrass Commons Mall in Dothan, AL and New River Valley Mall in Christiansburg, VA.

Sales per square foot for the assets under agreement of sale... More