Upon its inception, PREIT will have access to $130 million in new investments for its operations and the continuation of its strategic priorities. In addition to the recapitalization of the company, preIT’s debt schedule will be extended. exciting retail and experimental destinations, while prioritizing the fitness and protection of its employees, partners, consumers and communities.
“We look forward to emerging from this procedure as a more powerful and cutting-edge platform for our business partners,” said Joseph F. Coradino, CEO of PREIT. << We were able to achieve this result temporarily thanks to the unwavering of our lenders, as well as the continuity of our employees, customers, tenants and suppliers. We will continue to aim for a safe, guilty and effective operation while maintaining a solid balance sheet. "