CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
INVESTMENTS IN REAL ESTATE, at cost:
Operating properties	$ 3,149,516	$ 3,099,034
Construction in progress	80,733	106,011
Land held for development	5,881	5,881
Total investments in real estate	3,236,130	3,210,926
Accumulated depreciation	(1,259,740)	(1,202,722)
Net investments in real estate	1,976,390	2,008,204
INVESTMENTS IN PARTNERSHIPS, at equity:	173,448	159,993
OTHER ASSETS:
Cash and cash equivalents	41,418	12,211
Tenant and other receivables	70,329	41,261
Intangible assets (net of accumulated amortization of $19,338 and $18,248 at June 30, 2020 and December 31, 2019, respectively)	12,314	13,404
Deferred costs and other assets, net	100,206	103,688
Assets held for sale	1,445	12,506
Total assets	2,375,550	2,351,267
LIABILITIES:
Mortgage loans payable, net	893,775	899,753
Term Loans, net	542,345	548,025
Revolving Facilities	375,000	255,000
Tenants’ deposits and deferred rent	7,051	13,006
Distributions in excess of partnership investments	82,945	87,916
Fair value of derivative liabilities	31,747	13,126
Accrued expenses and other liabilities	100,518	107,016
Total liabilities	2,033,381	1,923,842
COMMITMENTS AND CONTINGENCIES:
EQUITY:
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; 79,460 shares issued and outstanding at June 30, 2020 and 77,550 shares issued and outstanding at December 31, 2019	79,460	77,550
Capital contributed in excess of par	1,768,339	1,766,883
Accumulated other comprehensive (loss) income	(31,288)	(12,556)
Distributions in excess of net income	(1,475,528)	(1,408,352)
Total equity—Pennsylvania Real Estate Investment Trust	341,137	423,679
Noncontrolling interest	1,032	3,746
Total equity	342,169	427,425
Total liabilities and equity	2,375,550	2,351,267
Series B Preferred Shares, $.01 par value per share; 25,000 shares authorized; 3450 shares issued and outstanding at June 30,2020 and December 31,2019; liquidation preference of $86,250
EQUITY:
Preferred Shares	35	35
Series C Preferred Shares, $.01 par value per share; 25,000 shares authorized; 6,900 shares issued and outstanding at June 30, 2020 and December 31, 2019; liquidation preference of $172,500
EQUITY:
Preferred Shares	69	69
Series D Preferred Shares, $.01 par value per share; 25,000 shares authorized; 5,000 shares issued and outstanding at June 30, 2020 and December 31, 2019 liquidation preference of $125,000
EQUITY:
Preferred Shares	$ 50	$ 50