Pennsylvania REIT reduces debt by $82 million with asset sales, cash

By Mary-Katherine Stinson

Lexington, Ky., July 5 – Pennsylvania Real Estate Investment Trust is proceeding with its debt reduction plan and has paid down a total of $82 million in debt through June 30 by applying proceeds from asset sales and excess cash from operations, according to a news release.

The company is a Philadelphia-based REIT focused on retail shopping malls and power centers.

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