0001193125-24-082993.txt : 20240401 0001193125-24-082993.hdr.sgml : 20240401 20240401122738 ACCESSION NUMBER: 0001193125-24-082993 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20240329 ITEM INFORMATION: Bankruptcy or Receivership ITEM INFORMATION: Material Modifications to Rights of Security Holders ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240401 DATE AS OF CHANGE: 20240401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENNSYLVANIA REAL ESTATE INVESTMENT TRUST CENTRAL INDEX KEY: 0000077281 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 236216339 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06300 FILM NUMBER: 24807368 BUSINESS ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET, SUITE 1000 CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2158750426 MAIL ADDRESS: STREET 1: ONE COMMERCE SQUARE STREET 2: 2005 MARKET STREET, SUITE 1000 CITY: PHILADELPHIA STATE: PA ZIP: 19103 8-K 1 d823318d8k.htm 8-K 8-K
false 0000077281 NONE NONE NONE NONE 0000077281 2024-03-29 2024-03-29 0000077281 pretq:SharesOfBeneficialInterestParValue1.00PerShareMember 2024-03-29 2024-03-29 0000077281 us-gaap:SeriesBPreferredStockMember 2024-03-29 2024-03-29 0000077281 us-gaap:SeriesCPreferredStockMember 2024-03-29 2024-03-29 0000077281 us-gaap:SeriesDPreferredStockMember 2024-03-29 2024-03-29

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 29, 2024

 

 

Pennsylvania Real Estate Investment Trust

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Pennsylvania   001-6300   23-6216339
(State or Other Jurisdiction of
Incorporation or Organization)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

One Commerce Square

2005 Market Street, Suite 1000

Philadelphia, Pennsylvania

   19103
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (215) 875-0700

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None*

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Shares of Beneficial Interest, par value $1.00 per share   PRETQ   *
Series B Preferred Shares, par value $0.01 per share   PRETLQ   *
Series C Preferred Shares, par value $0.01 per share   PRETMQ   *
Series D Preferred Shares, par value $0.01 per share   PRETNQ   *

 

*

Pennsylvania Real Estate Investment Trust’s securities began trading exclusively on the over-the-counter market on December 16, 2022.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 1.03

Bankruptcy or Receivership.

As previously reported in its Current Report on Form 8-K, dated January 23, 2024 (the “January 8-K”), on December 10, 2023, Pennsylvania Real Estate Investment Trust (“PREIT” or the “Company”) and certain of its direct and indirect affiliates (collectively, the “Company Parties” and together with PREIT, the “Debtors”) filed voluntary petitions (the cases commenced thereby, the “Chapter 11 Cases”) under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) to pursue a joint prepackaged chapter 11 plan as contemplated by the Restructuring Support Agreement, dated December 7, 2023 (as amended from time to time through the date hereof, the “RSA”). The Chapter 11 Cases are jointly administered under the caption In re Pennsylvania Real Estate Investment Trust, et al., Case No. 23-11974.

As previously reported in the January 8-K, on January 23, 2024, the Bankruptcy Court entered an order (the “Confirmation Order”), confirming the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Pennsylvania Real Estate Investment Trust and Its Debtor-Affiliates (the “Plan”) of the Debtors. A copy of the Plan and the Confirmation Order were filed as exhibits to the Company’s January 8-K. Capitalized terms used but not defined in this Current Report on Form 8-K have meanings ascribed to such terms in the Plan.

On April 1, 2024 (the “Effective Date”), each condition precedent to consummation of the Plan, enumerated in Article IX.A of the Plan, was satisfied or waived in accordance with the Plan and the Confirmation Order; therefore, the Effective Date of the Plan occurred, and the Debtors emerged from their Chapter 11 Cases. On April 1, 2024, the Debtors filed the notice of the occurrence of the Effective Date (the “Effective Date Notice”) with the Bankruptcy Court. Accordingly, the Plan is binding, enforceable and in full force and effect pursuant to its terms.

A copy of the Effective Date Notice is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. All capitalized terms used in this Current Report on Form 8-K and not otherwise defined herein have the meanings ascribed to such terms in the Plan.

 

Item 3.03

Material Modification to Rights of Security Holders.

As of the Effective Date, the Equity Distribution Conditions set forth in the Plan were met; therefore, holders of the Existing Equity Interests (including the OP Units as defined below) received, or will receive shortly after the Effective Date, their Pro Rata share of $10 million in cash (which amount was carved out of and provided by the holders of Prepetition Second Lien Claims from their recoveries under the Plan) pursuant to the Equity Distribution Allocation set forth in the Plan. The Company, with the consent of the requisite lenders, waived any and all Equity Costs, and, therefore, no Equity Costs were deducted from such $10 million amount.

As of the Effective Date, pursuant to the terms of the Plan and the Confirmation Order, all classes of preferred and common securities issued by the Company (referred to in the Plan as the “Existing Equity Interests”), namely the Company’s prior Shares of Beneficial Interest, par value $1.00 per share (the “Common Shares”), Series B Preferred Shares, par value $0.01 per share (the “Series B Preferred Shares”), Series C Preferred Shares, par value $0.01 per share (“Series C Preferred Shares”), and Series D Preferred Shares, par value $0.01 per share (“Series D Preferred Shares”), were automatically cancelled and extinguished as of the Effective Date. As of the Effective Date, the limited partnership units in the operating partnership of PREIT Associates, L.P. issued to third parties (the “OP Units”) were also automatically cancelled and extinguished.

 

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.

On March 29, 2024 (the “Amendment Date”), the Company entered into amendments to the Severance Plan for Certain Officers, effective January 1, 2007, with each of Andrew Ioannou and Joseph Aristone (the “Severance Plan Amendments”). The Severance Plan Amendments modify the terms of Mr. Ioannou’s and Mr. Aristone’s respective rights to severance compensation in the event of a change of control in the Company, specifically providing that if such officer’s employment with the Company terminates prior to or more than 12 months after a Change of Control and such officer executes a general release, such officer will be entitled to receive a severance payment equal to his base salary as of the Amendment Date plus a sum equal to the average of the two bonuses he received prior to the Amendment Date under the Company’s annual incentive plan and COBRA premiums reimbursements for a period of 52 weeks.

The foregoing summary of the Severance Plan Amendments does not purport to be complete and is qualified in its entirety by reference to the relevant agreements, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and incorporated herein by reference.

As of the Effective Date, the term of the members of the Board of Trustees of PREIT expired.

Item 9.01

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

Exhibit
Number		    Description
10.1+    Severance agreement dated as of March 29, 2024, by and between Pennsylvania Real Estate Investment Trust and Andrew Ioannou.
10.2+    Severance agreement dated as of March 29, 2024, by and between Pennsylvania Real Estate Investment Trust and Joseph Aristone.
99.1    Notice of (I) Entry of Findings of Fact, Conclusions of Law, and Order Approving the Adequacy of the Debtors’ Disclosure Statement for, and Confirming, the Debtors’ Joint Prepackaged Chapter 11 Plan of Reorganization of Pennsylvania Real Estate Investment Trust and Certain of Its Direct and Indirect Subsidiaries and (II) Occurrence of Effective Date.
104    Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
Date: April 1, 2024     By:  

/s/ Lisa Most

      Lisa M. Most
      Executive Vice President, Secretary and General Counsel
 EX-10.1 2 d823318dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

March 29, 2024

Andrew M. Ioannou

Executive Vice President

Pennsylvania Real Estate Investment Trust

2005 Market Street, Suite 1000

Philadelphia, PA 19103

 

  Re:

PREIT Services. LLC Severance Plan for Certain Officers Effective January 1, 2007 (“Plan”)

Dear Andrew:

This letter will constitute an amendment to the Plan solely with respect to you and shall not affect the Plan in any respect as to any other past, present or future Eligible Employee. The Executive Compensation and Human Resources Committee (the “Committee”) has approved, subject to your acceptance by signing a copy of this letter, the following amendments to the Plan applicable solely to you. You understand that similar or dissimilar individual amendments may be entered into concurrently or from time-to-time hereafter with other individual employees, which amendments will not affect the Plan as applied to you. You further understand that this amendment shall supersede and render void the May 18, 2013 amendment letter previously entered into between you and PREIT, as well as any other amendments, agreements, or arrangements previously discussed or entered into between you and PREIT regarding your eligibility for severance compensation upon the separation of your employment with PREIT. Subject to your acceptance below, the following amendments to the Plan shall be given effect on and as of March 29, 2024:

1. The heading and first portion (prior to subsection 2.3(a)(1)) of Section 2.3(a) is hereby modified and amended to read as follows:

“(a) Prior to or More Than 12 Months After a Change in Control. Mr. Andrew M. Ioannou (“Mr. Ioannou”) will be entitled to receive benefits under the Plan prior to or more than 12 months after a Change in Control if either –”

2. The heading of subsection 3.1(b) is hereby modified and amended to read as follows: “Prior to or More Than 12 Months After a Change in Control.”

3. Subsections 3.1(c)(1)-(3) are hereby deleted in their entirety and replaced with the following new Section 3.1(c)(1):

“If Mr. Ioannou shall be an Eligible Employee who is eligible to receive benefits pursuant to Section 2.3(b)(1)-(7) and who executes a General Release, Mr. Ioannou shall receive an amount equal to his Base Salary as in effect as of March 29, 2024 plus a sum equal to the average of the last two bonuses received by Mr. Ioannou prior to March 29, 2024 under the Company’s Annual Incentive Plan

(“AIP”). The Company will pay this amount in a lump sum to Mr. Ioannou within seven (7) days after the effective date of the General Release, which General Release shall be provided to Mr. Ioannou not more than seven (7) days following his Termination Date. Mr. Ioannou shall also receive “COBRA Benefits” as defined in Section 3.2 for a period of 52 weeks.”

4. The reference in the first sentence of Section 3.4 to “Section 3.1” is hereby amended to refer to “Section 3.1(b)”.

5. Except as expressly amended hereby, none of your rights or obligations or those of the Company under the Plan shall be affected hereby. Capitalized terms used, but not defined, in this amendment shall have the meanings ascribed to such terms in the Plan. This letter contains the entire agreement of the signatories with respect to the amendments to the Plan set forth herein. For purposes of clarity, it is understood and agreed that if an amendment to the Plan applicable to Eligible Employees generally shall be adopted, (i) such amendment shall be applicable to Mr. Ioannou (except as provided in clause (ii)) and (ii) the terms hereof (other than the amounts payable under Sections 3.1(b) and 3.1(c)(1) as set forth above) shall be amended to the extent necessary as determined by the Committee to be consistent with the amendment to the Plan so adopted, in each case without any further action by either of the parties to this letter. Except as provided in the preceding sentence, no modification or claim of waiver of any of the provisions hereof shall be valid unless in writing and signed by the party against whom such modification or waiver is sought to be enforced. The law of the Commonwealth of Pennsylvania shall be the controlling state law in all matters relating to this amendment (without reference to principles of conflict of laws), and shall apply to the extent it is not superseded by ERISA.

 

PREIT SERVICES, LLC
By:  

/s/ Lisa M. Most

  Lisa M. Most
  Executive Vice President

 

ACCEPTED AND AGREED:

/s/ Andrew M. Ioannou

Andrew M. Ioannou
 EX-10.2 3 d823318dex102.htm EX-10.2 EX-10.2

Exhibit 10.2

March 29, 2024

Joseph J. Aristone

Executive Vice President

Pennsylvania Real Estate Investment Trust

2005 Market Street, Suite 1000

Philadelphia, PA 19103

 

  Re:

PREIT Services. LLC Severance Plan for Certain Officers Effective January 1, 2007 (“Plan”)

Dear Joseph:

This letter will constitute an amendment to the Plan solely with respect to you and shall not affect the Plan in any respect as to any other past, present or future Eligible Employee. The Executive Compensation and Human Resources Committee (the “Committee”) has approved, subject to your acceptance by signing a copy of this letter, the following amendments to the Plan applicable solely to you. You understand that similar or dissimilar individual amendments may be entered into concurrently or from time-to-time hereafter with other individual employees, which amendments will not affect the Plan as applied to you. You further understand that this amendment shall supersede and render void the May 8, 2013 amendment letter previously entered into between you and PREIT, as well as any other amendments, agreements, or arrangements previously discussed or entered into between you and PREIT regarding your eligibility for severance compensation upon the separation of your employment with PREIT. Subject to your acceptance below, the following amendments to the Plan shall be given effect on and as of March 29, 2024:

1. The heading and first portion (prior to subsection 2.3(a)(1)) of Section 2.3(a) is hereby modified and amended to read as follows:

“(a) Prior to or More Than 12 Months After a Change in Control. Mr. Joseph J. Aristone (“Mr. Aristone”) will be entitled to receive benefits under the Plan prior to or more than 12 months after a Change in Control if either –”

2. The heading of subsection 3.1(b) is hereby modified and amended to read as follows: “Prior to or More Than 12 Months After a Change in Control.”

3. Subsections 3.1(c)(1)-(3) are hereby deleted in their entirety and replaced with the following new Section 3.1(c)(1):

“If Mr. Aristone shall be an Eligible Employee who is eligible to receive benefits pursuant to Section 2.3(b)(1)-(7) and who executes a General Release, Mr. Aristone shall receive an amount equal to his Base Salary as in effect as of March 29, 2024 plus a sum equal to the average of the last two bonuses received by Mr. Aristone prior to March 29, 2024 under the Company’s Annual Incentive Plan (“AIP”). The Company will pay this amount in a lump sum to

Mr. Aristone within seven (7) days after the effective date of the General Release, which General Release shall be provided to Mr. Aristone not more than seven (7) days following his Termination Date. Mr. Aristone shall also receive “COBRA Benefits” as defined in Section 3.2 for a period of 52 weeks.”

4. The reference in the first sentence of Section 3.4 to “Section 3.1” is hereby amended to refer to “Section 3.1(b)”.

5. Except as expressly amended hereby, none of your rights or obligations or those of the Company under the Plan shall be affected hereby. Capitalized terms used, but not defined, in this amendment shall have the meanings ascribed to such terms in the Plan. This letter contains the entire agreement of the signatories with respect to the amendments to the Plan set forth herein. For purposes of clarity, it is understood and agreed that if an amendment to the Plan applicable to Eligible Employees generally shall be adopted, (i) such amendment shall be applicable to Mr. Aristone (except as provided in clause (ii)) and (ii) the terms hereof (other than the amounts payable under Sections 3.1(b) and 3.1(c)(1) as set forth above) shall be amended to the extent necessary as determined by the Committee to be consistent with the amendment to the Plan so adopted, in each case without any further action by either of the parties to this letter. Except as provided in the preceding sentence, no modification or claim of waiver of any of the provisions hereof shall be valid unless in writing and signed by the party against whom such modification or waiver is sought to be enforced. The law of the Commonwealth of Pennsylvania shall be the controlling state law in all matters relating to this amendment (without reference to principles of conflict of laws), and shall apply to the extent it is not superseded by ERISA.

 

PREIT SERVICES, LLC

By:

  

/s/ Lisa M. Most

 

Lisa M. Most

 

Executive Vice President

 

ACCEPTED AND AGREED:

/s/ Joseph J. Aristone

Joseph J. Aristone
 EX-99.1 4 d823318dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

 

In re:

 

PENNSYLVANIA REAL ESTATE

INVESTMENT TRUST, et al.,1

 

Debtors.

   

Chapter 11

 

Case No. 23-11974 (KBO)

 

(Jointly Administered)

Re: D.I. 15, 16, 136, 148, 168, 193

NOTICE OF (I) ENTRY OF FINDINGS OF FACT, CONCLUSIONS OF LAW,

AND ORDER APPROVING THE ADEQUACY OF THE DEBTORS’ DISCLOSURE

STATEMENT FOR, AND CONFIRMING, THE DEBTORS’ MODIFIED JOINT

PREPACKAGED CHAPTER 11 PLAN OF REORGANIZATION OF PENNSYLVANIA

REAL ESTATE INVESTMENT TRUST AND ITS DEBTOR-AFFILIATES AND (II)

OCCURRENCE OF EFFECTIVE DATE

PLEASE TAKE NOTICE OF THE FOLLOWING:

1. Petition Date. On December 10, 2023 (the “Petition Date”), each of the above-captioned debtors and debtors in possession (collectively, the “Debtors”) filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court”).

2. Confirmation of the Plan. On January 23, 2024, the Court entered an order [D.I. 193] (the “Confirmation Order”), approving the Disclosure Statement Relating to the Joint Prepackaged Chapter 11 Plan of Reorganization of Pennsylvania Real Estate Investment Trust and Its Debtor-Affiliates [D.I. 16] (the “Disclosure Statement”) and confirming the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Pennsylvania Real Estate Investment Trust and Its Debtor-Affiliates [D.I. 168] (the “Plan”).2

3. Effective Date. On April 1, 2024 (the “Effective Date”), each of the conditions precedent to consummation of the Plan enumerated in Article IX.A of the Plan were satisfied or waived in accordance with the Plan and the Confirmation Order, and the Effective Date of the Plan occurred.

4. Proofs of Claim. Under the Plan, upon the Effective Date and in light of the Unimpaired status of all Allowed General Unsecured Claims under the Plan, all Proofs of Claim filed against the Debtors, regardless of the time of filing, and including Proofs of Claim filed after the Effective Date, shall be deemed expunged, without further notice to, action, order or approval of the Court. Any Proof of Claim Filed with respect to an Executory Contract or Unexpired Lease that is assumed shall be deemed expunged, without further notice to, action, order or approval of the Court.

 

1 

A list of the Debtors in these Chapter 11 Cases, along with the last four digits of each Debtor’s federal tax identification number, may be obtained on the website of the Debtors’ claims and noticing agent at https://cases.ra.kroll.com/PREIT2023. The corporate headquarters and the mailing address for the Debtors is 2005 Market Street, Suite 1000, Philadelphia, PA 19103.

2 

Capitalized terms used but not defined herein have the meanings given to them in the Plan.

 

1

5. Deadline to File Professional Fee Claims. In accordance with Article II.C of the Plan, all requests for payment of Professional Fee Claims for services rendered and reimbursement of expenses incurred prior to the Effective Date must be filed no later than May 16, 2024 (the “Professional Fee Claim Bar Date”), or 45 days after the Effective Date. All requests for payment of Professional Fee Claims must be (i) made in writing, (ii) filed with the Clerk of the Court, 824 North Market Street, 3rd Floor, Wilmington, Delaware 19801 and (iii) served upon the following parties so as to be received no later than the Professional Fee Claim Bar Date: (a) counsel for the Debtors, DLA Piper LLP (US), 1201 N. Market Street, Suite 2100, Wilmington, Delaware 19801-1147 (Attn.: R. Craig Martin at craig.martin@us.dlapiper.com and Aaron S. Applebaum at aaron.applebaum@us.dlapiper.com) and 444 West Lake Street, Suite 900, Chicago, Illinois 60606 (Attn.: Richard A. Chesley at richard.chesley@us.dlapiper.com and Oksana Koltko Rosaluk at oksana.koltkorosaluk@us.dlapiper.com); (b) the Office of the United States Trustee, J. Caleb Boggs Federal Building, 844 King St., Lockbox 35, Wilmington, DE 19801 (Attn.: Joseph F. Cudia at joseph.cudia@usdoj.gov); (c) counsel to the Ad Hoc Group of Lenders, (x) Paul Hastings, 200 Park Avenue, New York, New York 10166 (Attn.: Kristopher M. Hansen at krishansen@paulhastings.com, Jonathan Canfield at joncanfield@paulhastings.com, and Daniel Ginsberg at danielginsberg@paulhastings.com) and (y) Young Conaway Stargatt & Taylor, LLP, 1000 North King Street, Wilmington, Delaware 19801 (Attn.: Matthew B. Lunn at mlunn@ycst.com and Robert F. Poppiti, Jr. at rpoppiti@ycst.com); and (d) counsel to the DIP Agent, Wilmer Cutler Pickering Hale and Dorr LLP, 7 World Trade Center, 250 Greenwich Street, New York, New York 10007 (Attn.: Andrew Goldman at andrew.goldman@wilmerhale.com).

6. Release, Discharge, Exculpation, and Injunction Provisions. The Court has approved certain discharge, release, exculpation, injunction, and related provisions in Article VIII of the Plan. The Plan and the Confirmation Order contain other provisions that may affect your rights. You are encouraged to review the Plan and the Confirmation Order in their entirety.

7. Copies of Pleadings. Copies of the Plan, the Disclosure Statement, and the Confirmation Order, all pleadings, notices, and other documents filed in the Debtors’ Chapter 11 Cases are publicly available at the Court’s website at https://www.deb.uscourts.gov (note that a PACER password is needed to access documents on the Court’s website) or by accessing the website maintained by Kroll Restructuring Administration LLC, the Debtors’ noticing agent, available at: https://cases.ra.kroll.com/PREIT2023 (which is free of charge) or by contacting counsel for the Debtors using the contact information below.

[Remainder of Page Intentionally Left Blank]

 

2

Dated: April 1, 2024     Respectfully submitted,

Wilmington, Delaware

      
    DLA PIPER LLP (US)
    By:  

/s/ Aaron S. Applebaum

     

R. Craig Martin (DE 5032)

Aaron S. Applebaum (DE 5587)

1201 N. Market Street, Suite 2100

Wilmington, Delaware 19801

Telephone: (302) 468-5700

Facsimile: (302) 394-2341

Email:  craig.martin@us.dlapiper.com

aaron.applebaum@us.dlapiper.com

      -and-
     

Richard A. Chesley (admitted pro hac vice)

Oksana Koltko Rosaluk (admitted pro hac vice)

444 West Lake Street, Suite 900

Chicago, Illinois 60606

Telephone: (312) 368-4000

Facsimile: (312) 236-7516

Email:  richard.chesley@us.dlapiper.com

oksana.koltkorosaluk@us.dlapiper.com

      Counsel for the Debtors and Debtors in Possession

 

3

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Document and Entity Information
Mar. 29, 2024
Document And Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Mar. 29, 2024
Entity Registrant Name Pennsylvania Real Estate Investment Trust
Entity Incorporation State Country Code PA
Entity File Number 001-6300
Entity Tax Identification Number 23-6216339
Entity Address Address Line 1 One Commerce Square
Entity Address Address Line 2 2005 Market Street
Entity Address Address Line 3 Suite 1000
Entity Address City Or Town Philadelphia
Entity Address State Or Province PA
Entity Address Postal Zip Code 19103
City Area Code 215
Local Phone Number 875-0700
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Entity Central Index Key 0000077281
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Document And Entity Information [Line Items]  
Security 12b Title Series B Preferred Shares, par value $0.01 per share
Trading Symbol PRETLQ
Security Exchange Name NONE
Series C Preferred Stock [Member]  
Document And Entity Information [Line Items]  
Security 12b Title Series C Preferred Shares, par value $0.01 per share
Trading Symbol PRETMQ
Security Exchange Name NONE
Shares Of Beneficial Interest Par Value 1.00 Per Share [Member]  
Document And Entity Information [Line Items]  
Security 12b Title Shares of Beneficial Interest, par value $1.00 per share
Trading Symbol PRETQ
Security Exchange Name NONE
Series D Preferred Stock [Member]  
Document And Entity Information [Line Items]  
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Trading Symbol PRETNQ
Security Exchange Name NONE
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