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PREIT drops plan for sale-leaseback of Moorestown Mall

PREIT drops plan for sale-leaseback of Moorestown MallThe financially ailing owner of Moorestown Mall has terminated a plan to raise funds through the sale-leaseback of the shopping center.

Philadelphia-based PREIT had hoped to raise $153.6 million through a transaction involving the Route 38 complex and four malls in other states.

But it disclosed the deal’s demise in a Sept. 1 filing with the U.S. Securities and Exchange Commission.

Read On Courier Post

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