Pennsylvania Real Estate Investment Trust selling 3 malls
The Pennsylvania Real Estate Investment Trust says it plans to sell malls in the Philadelphia region, as well as the Uniontown Mall in western Pennsylvania, later this year.
The (Uniontown) Herald-Standard reported company chief executive officer Joseph Coradino announced those plans during a conference call on first quarter earnings.
The other malls being sold are Palmer Park Mall in Northampton County and Springfield Park, a shopping center in Delaware County.
The company isn't saying who is buying the malls, or for how much, only that they expect to complete the deals by the end of summer.
Coradino said, "Our goal is to enter the fall not owning those assets."
Copyright AP - Associated Press
