PEI News and Press, Pennsylvania Real Estate Investment Trust From 12/16/20

PREIT (PEI), which emerged from Chapter 11 proceedings less than a week ago, amends its first lien credit agreement, consisting of a secured first lien revolving credit facility for up to $130M, a $384.5M secured first lien term loan facility, and a $540.5M secured second lien term loan facil...

More than 20 economic and housing experts surveyed by the National Association of Realtors see annual median home price growth slowing to 8.0% in 2021 and 5.5% in 2022, down from the 15.5% increase posted in 2020.While slowing, the price increases still outpace the expected inflation rate of ...

U.S. equity markets finished modestly lower this past week as vaccine optimism and an IPO-frenzy were offset by concerns over the ongoing intensification of the coronavirus outbreak and resulting shutdowns. A potentially pivotal turning point in the battle against COVID-19, the FDA ap...

Pennsylvania REIT shares (PEI) gain 19% in premarket trading after the REIT emerges from Chapter 11 proceedings.Consistent with previous disclosures, PEI now has access to up to $130M of new capital to support its operations and advance its plans.Also, PEI's debt maturity schedule has been ex...

PREIT Successfully Completes Financial Restructuring PHILADELPHIA , Dec. 11, 2020 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced it has successfully completed its financial restructuring and eme...

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Pennsylvania REIT (PEI) gains 24% in after-hours trading after reporting that it expects to emerge from Chapter 11 bankruptcy early in December.The U.S. Bankruptcy Court for the District of Delaware confirmed PEI's prepackaged financial restructuring plan in a hearing today.The comp...

PREIT's Prepackaged Financial Restructuring Plan Confirmed By Court Company Expects to Emerge from Chapter 11 in early December with Strengthened Balance Sheet and Enhanced Financial Flexibility All Stakeholders to be Unimpaired and All Claims to be Paid in Full With hol...

Pennsylvania REIT (PEI) stock gains 2.6% in premarket trading as the REIT is set to seek court approval for its debt restructuring plan today.Earlier this month, distressed debt firm Strategic Value Partners dropped its objection to PEI's restructuring plan.The plan would free up as...

Climbing collection rates bode well for retail-focused REITs, as the owners of open-air shopping centers, enclosed malls, and other retail assets claw their way back from May's trough, writes Odeon Capital analyst Alex Arnold.And investors have noticed. Retail REIT shares, on the whole, have ...