We believe that with a quality portfolio, opportunities to create value are continuous. Following a multi-year aggressive portfolio repositioning, PREIT is poised to capitalize on these opportunities.

We have been active in redefining the retail real estate experience through actively replacing department stores and diversifying our tenant mix with the addition of first-to-market tenants, dining and entertainment venues, specialty retailers and off-price merchants to enhance the consumer experience.

The next step in our evolution is conversion into multi-use, sustainable districts by incorporating multifamily housing and hotels into our sites.

THE PREIT ADVANTAGE

• PREIT owns and operates distinctive real estate in high barrier-to-entry markets.
• The Company has benefitted from a focused asset sale program, orchestrated by management’s foresight over the past five years; reducing exposure to underperforming mall real estate
• The Company’s proven management team has an average of 23 years of experience at PREIT and has a strong track record of redeveloping and repositioning assets, with intimate knowledge of the operations, tenant base and ongoing densification opportunities
• Smaller portfolio is easily understood on an asset by asset basis versus peer portfolios
• Divested of 18 lower quality mall assets to focus the footprint, raising approximately $900 million from asset sales, a majority of which was successfully reinvested in value-enhancing redevelopment and remerchandising opportunities and a significant anchor repositioning program
• Completion of significant capital investment over the last five years positions assets to benefit from embedded growth
• Proven ability to undertake and benefit from densification opportunities