CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
INVESTMENTS IN REAL ESTATE, at cost:
Operating properties	$ 3,173,436	$ 3,168,536
Construction in progress	44,201	46,285
Land held for development	5,516	5,516
Total investments in real estate	3,223,153	3,220,337
Accumulated depreciation	(1,336,228)	(1,308,427)
Net investments in real estate	1,886,925	1,911,910
INVESTMENTS IN PARTNERSHIPS, at equity:	21,597	27,066
OTHER ASSETS:
Cash and cash equivalents	44,637	43,309
Tenant and other receivables	40,413	54,532
Intangible assets (net of accumulated amortization of $19,542 and $19,187 at March 31, 2021 and December 31, 2020, respectively)	11,037	11,392
Deferred costs and other assets, net	125,061	127,593
Assets held for sale	1,384	1,384
Total assets	2,131,054	2,177,186
LIABILITIES:
Mortgage loans payable, net	874,926	884,503
Term Loans, net	921,767	908,473
Revolving Facilities	54,830	54,830
Tenants’ deposits and deferred rent	10,639	8,899
Distributions in excess of partnership investments	75,047	76,586
Fair value of derivative instruments	19,388	23,292
Accrued expenses and other liabilities	88,219	93,663
Total liabilities	2,044,816	2,050,246
COMMITMENTS AND CONTINGENCIES (Note 8)
EQUITY:
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; 79,260 and 79,537 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	79,260	79,537
Capital contributed in excess of par	1,772,728	1,771,777
Accumulated other comprehensive loss	(18,080)	(20,620)
Distributions in excess of net income	(1,742,384)	(1,699,638)
Total equity – Pennsylvania Real Estate Investment Trust	91,678	131,210
Noncontrolling interest	(5,440)	(4,270)
Total equity	86,238	126,940
Total liabilities and equity	2,131,054	2,177,186
Series B Preferred Stock
EQUITY:
Preferred Shares	35	35
Series C Preferred Stock
EQUITY:
Preferred Shares	69	69
Series D Preferred Stock
EQUITY:
Preferred Shares	$ 50	$ 50