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PREIT history
PREIT company history timeline
1960: Founded as one of the first publicly held REITs in the US
1970: Started trading on the American Stock Exchange under ticker symbol PEI
1997: Merged with The Rubin Organization, with Ronald Rubin named CEO; Trading moved to the New York Stock Exchange
2003: Strategic focus changes from a diversified property base to one focused on retail; Acquired six-mall portfolio from The Rouse Company; Sold all multi-family properties; Completed merger with Crown American Trust, acquiring 26 retail assets
2012: Joseph F. Coradino named CEO; Outlined strategy focused on improving portfolio quality and the balance sheet while enhancing operating performance to position company for growth
2013: Beginning of asset disposition program, aimed at improving overall portfolio quality
2014: Formed joint-venture with Macerich to redevelop the Gallery at Market East into the Fashion District Philadelphia
2015: Acquired Springfield Town Center in Fairfax County, VA from Vornado Realty Trust; Philadelphia City Council approves legislation leading to the redevelopment of Fashion District Philadelphia; Century 21 opens 1st store outside of New York Metro at Fashion District Philadelphia
2016: Relaunched the new and improved PREIT.com to coincide with the company’s enhanced portfolio
2017: Sold 17th low-productivity mall revealing high-quality platform with improved growth profile.
2019: Fashion District Philadelphia officially opened in September 2019 with a successful four-day launch weekend to celebrate Philadelphia’s newest shopping, dining, entertainment and cultural destination.
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PREIT competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Macerich | 1964 | $918.2M | 670 | 24 |
| Kimco Realty | 1958 | $2.0B | 484 | 36 |
| Simon Property Group | 1993 | $6.0B | 3,300 | 193 |
| Taubman | 1950 | $661.1M | 420 | 1 |
| Forest City Realty Trust | 1920 | $911.0M | 1,548 | 11 |
| Federal Realty Investment Trust | 1962 | $1.2B | 313 | 12 |
| Washington Prime Group | 2014 | $524.4M | 845 | - |
| Tanger Outlets | 1981 | $526.1M | 287 | 30 |
| Legend Group Holdings | 1965 | $9.8M | 100 | - |
| American Community Properties Trust Inc | - | $49.0M | 217 | - |
PREIT history FAQs
Zippia gives an in-depth look into the details of PREIT, including salaries, political affiliations, employee data, and more, in order to inform job seekers about PREIT. The employee data is based on information from people who have self-reported their past or current employments at PREIT. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by PREIT. The data presented on this page does not represent the view of PREIT and its employees or that of Zippia.
PREIT may also be known as or be related to PENNSYLVANIA REAL ESTATE INVESTMENT TRUST, PREIT, Pennsylvania Real Estate Investment, Pennsylvania Real Estate Investment Trust and Preit.