Philadelphia-based Pennsylvania Real Estate Investment
Trust says that it will close soon on its sale of Uniontown Mall in
Southwestern Pennsylvania, and that it also is under contract to sell three
out-of-state malls.
The Uniontown property will sell for $23 million, PREIT
said in a release on Tuesday.
The company has entered into an agreement to sell Gadsden
Mall in Gadsden, Ala., Wiregrass Commons Mall in Dothan, Ala., and New River
Valley Mall in Christiansburg, Va., to an institutional buyer for $95.4
million.
In addition, PREIT said, it is negotiating agreements of
sale on two "non-core" malls, which it hopes to execute within the
next several weeks.
Source: Philly.com
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