Parent company of Capital City Mall, sells N.J. shopping center to help pay off 8M in debt

The owner of the Capital City Mall in Lower Allen Township is paying down $148 million in debt.By doing that, PREIT (Pennsylvania Real Estate Inves...

November 26, 2022
3:54 AM

The owner of the Capital City Mall in Lower Allen Township is paying down $148 million in debt.By doing that, PREIT (Pennsylvania Real Estate Investment Trust) recently closed on a deal to sell one of its malls. The company announced earlier this month that it has closed on the sale of the Cumberland Mall in Vineland, New Jersey and several outparcels bringing its capital raised through asset sales this year to $110 million.

Daniel Urie