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Capital City Mall owner to explore ‘all possible options,’ including merger, sale and refinancing

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The CEO of PREIT made the announcement during an earnings call.

Joseph F. Coradino, chairman and chief executive officer of the Pennsylvania Real Estate Investment Trust, said that in the coming year it will exploring “all possible options” available to the company as its credit facility matures, including refinancing, merger, sale, joint ventures, selling high quality assets and more.

“Add to this, we have a pipeline of over $130 million of assets that are under agreement and many in the final stages of negotiations, while we are exploring opportunities to raise an additional $125 million in capital,” Coradino said.He said PREIT is facing economic upheaval, rising rates, inflation, and a constrained financing environment.

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Don’t let this shit die like the colonial park mall

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