| Pennsylvania Real Estate Investment Trust engages in the ownership, management, development, redevelopment, acquisition, and leasing of malls and power and strip centers in the eastern United States. As of June 7, 2005, the companys portfolio consisted of 56 properties, including 38 shopping malls, 13 strip and power centers, and 5 office/industrial properties. These retail properties total approximately 33.5 million square feet, of which the company and partnerships, in which the company owns an interest, own approximately 26.3 million square feet. In addition, the company provides management, leasing, and development services to affiliate and third party property owners. The company qualifies as a real estate investment trust (REIT) under the Internal Revenue Code. As a REIT, the company would not be subject to federal tax to the extent that it distributes at least 900f its taxable income to its shareholders. Pennsylvania Real Estate Investment Trust was founded in 1960 and is headquartered in Philadelphia, Pennsylvania. |
