PREIT Accelerates Capital-Raising Initiative Surpassing Key Milestone

Over $110 million raised through asset sale program 

$148 million from asset sales and excess cash used to repay debt

PHILADELPHIA, Nov. 2, 2022 /PRNewswire/ -- PREIT (NYSE: PEI), today, marked meaningful balance sheet improvements. The Company is underway with a robust capital raising effort, seeking to improve its balance sheet and mitigate the impact of interest expenses to drive earnings. As a result of completed asset sales, the Company has applied proceeds and excess cash from operations to pay down debt by $148 million through October 31, 2022. 

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