Pa. REIT Nets $77M In Sale Of Harrisburg Retail Complex

Law360, Philadelphia (January 14, 2013, 4:14 PM EST) -- Pennsylvania Real Estate Investment Trust has completed a transaction to sell a Harrisburg shopping center for $76.8 million, the company announced Monday.

The purchaser of the property is Kansas-based Rubenstein Real Estate Co., according to a filing with the U.S. Securities and Exchange commission. PREIT could not confirm the purchaser because of a nondisclosure agreement, a representative said Monday.

According to the SEC filing, the sale agreement had been reached in November.

“By completing the sale of Paxton Towne Centre, PREIT is improving its balance sheet...
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