CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
INVESTMENTS IN REAL ESTATE, at cost:
Operating properties	$ 3,163,656	$ 3,099,034
Construction in progress	46,872	106,011
Land held for development	5,881	5,881
Total investments in real estate	3,216,409	3,210,926
Accumulated depreciation	(1,280,117)	(1,202,722)
Net investments in real estate	1,936,292	2,008,204
INVESTMENTS IN PARTNERSHIPS, at equity:	176,070	159,993
OTHER ASSETS:
Cash and cash equivalents	36,373	12,211
Tenant and other receivables	64,367	41,261
Intangible assets (net of accumulated amortization of $19,896 and $18,248 at September 30, 2020 and December 31, 2019, respectively)	11,756	13,404
Deferred costs and other assets, net	138,821	103,688
Assets held for sale	1,384	12,506
Total assets	2,365,063	2,351,267
LIABILITIES:
Mortgage loans payable, net	890,848	899,753
Term Loans, net	559,040	548,025
Revolving Facilities	375,000	255,000
Tenants’ deposits and deferred rent	10,601	13,006
Distributions in excess of partnership investments	77,848	87,916
Fair value of derivative liabilities	27,694	13,126
Accrued expenses and other liabilities	105,637	107,016
Total liabilities	2,046,668	1,923,842
COMMITMENTS AND CONTINGENCIES:
EQUITY:
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; 79,490 and 77,550 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	79,490	77,550
Capital contributed in excess of par	1,770,070	1,766,883
Accumulated other comprehensive loss	(27,828)	(12,556)
Distributions in excess of net income	(1,504,371)	(1,408,352)
Total equity—Pennsylvania Real Estate Investment Trust	317,515	423,679
Noncontrolling interest	880	3,746
Total equity	318,395	427,425
Total liabilities and equity	2,365,063	2,351,267
Series B Preferred Shares, $.01 par value per share; 25,000 shares authorized; 3,450 shares issued and outstanding; liquidation preference of $87,840 and $86,250 at September 30, 2020 and December 31, 2019, respectively
EQUITY:
Preferred Shares	35	35
Series C Preferred Shares, $.01 par value per share; 25,000 shares authorized; 6,900 shares issued and outstanding; liquidation preference of $175,605 and $172,500 at September 30, 2020 and December 31, 2019, respectively
EQUITY:
Preferred Shares	69	69
Series D Preferred Shares, $.01 par value per share; 25,000 shares authorized; 5,000 shares issued and outstanding; liquidation preference of $127,149 and $125,000 at September 30, 2020 and December 31, 2019, respectively
EQUITY:
Preferred Shares	$ 50	$ 50