PREIT Completes Extension of Key Mortgage Maturity and Provides Update on Asset Sales
Retrieved on:
Tuesday, January 3, 2023
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PREIT also completed the sale of a former department store space at Valley View Mall for gross proceeds of $2.6 million.
Key Points:
- PREIT also completed the sale of a former department store space at Valley View Mall for gross proceeds of $2.6 million.
- "We are pleased to have secured this key extension, having also recently extended the maturity date on our Credit Facilities, meaningful milestones for our debt maturity schedule," said Joseph F. Coradino, Chairman and CEO of PREIT.
- "Executing on asset sales and utilizing excess cash to pay down debt is a top priority for PREIT as we start 2023."
- We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.