PREIT Reports Third Quarter 2023 Results
PHILADELPHIA, Nov. 14, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and nine months ended September 30, 2023. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.
- Core Mall Total Occupancy decreased by 70 basis points to 93.6% compared to the third quarter 2022.
- Average renewal spreads for the three and nine months ended September 30, 2023 were 8.5% and 5.5%, respectively.
- Additional information regarding changes in operating results for the three and nine months ended September 30, 2023 and 2022 is included on page 14.
- The Company's Credit Facilities, with a balance of $1,118.8 million as of September 30, 2023, mature on December 10, 2023.