Posts Tagged: PREIT

PREIT Sells South Jersey Mall for Less

South Jersey Mall

PREIT has sold the Cumberland Mall in South Jersey to an undisclosed buyer for $45 million, an asset that it bought for $59.5 million in 2005.  The Philadelphia real estate investment trust said proceeds from the sale will allow it to pay off its $39 million mortgage on the Vineland mall. A PREIT (NYSE: PEI) spokesperson… Read more »