CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
INVESTMENTS IN REAL ESTATE, at cost:
Operating properties	$ 3,527,364	$ 3,470,167
Construction in progress	88,167	91,538
Land held for development	14,490	15,292
Total investments in real estate	3,630,021	3,576,997
Accumulated depreciation	(938,260)	(844,010)
Net investments in real estate	2,691,761	2,732,987
INVESTMENTS IN PARTNERSHIPS, at equity:	15,524	16,009
OTHER ASSETS:
Cash and cash equivalents	26,248	21,798
Tenant and other receivables (net of allowance for doubtful accounts of $15,873 and $17,930 at September 30, 2012 and December 31, 2011, respectively)	37,313	39,832
Intangible assets (net of accumulated amortization of $15,749 and $51,625 at September 30, 2012 and December 31, 2011, respectively)	8,898	9,921
Deferred costs and other assets	98,797	89,707
Total assets	2,878,541	2,910,254
LIABILITIES:
Mortgage loans payable (including debt premium of $282 at December 31, 2011)	1,822,404	1,691,381
Exchangeable Notes (net of debt discount of $849 at December 31, 2011)		136,051
Term Loans	240,000	240,000
Revolving Facility	15,000	95,000
Tenants' deposits and deferred rent	11,689	13,278
Distributions in excess of partnership investments	62,818	64,938
Fair value of derivative instruments	13,805	21,112
Accrued expenses and other liabilities	68,602	60,456
Total liabilities	2,234,318	2,322,216
COMMITMENTS AND CONTINGENCIES (Note 6)
EQUITY:
Series A preferred shares, $.01 par value per share; 25,000 shares authorized; 4,600 shares issued and outstanding at September 30, 2012 and 0 shares issued and outstanding at December 31, 2011; liquidation preference of $115,000	46
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; 55,992 shares issued and outstanding at September 30, 2012 and 55,677 shares issued and outstanding at December 31, 2011	55,992	55,677
Capital contributed in excess of par	1,165,091	1,047,487
Accumulated other comprehensive loss	(26,322)	(34,099)
Distributions in excess of net income	(589,575)	(524,738)
Total equity-PREIT	605,232	544,327
Noncontrolling interest	38,991	43,711
Total equity	644,223	588,038
Total liabilities and equity	$ 2,878,541	$ 2,910,254