PENNSYLVANIA REAL ESTATE INVESTMENT TRUST FILES (8-K) Disclosing Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

On August 31, 2022, PR Cherry Hill STW LLC and Cherry Hill Center, LLC, both of
which are subsidiaries of Pennsylvania Real Estate Investment Trust (the
"Trust") that own Cherry Hill Mall (the "Borrowers"), PREIT Associates, L.P.,
which is the guarantor under the Notes (as defined below), and New York Life
Insurance Company and Teachers Insurance and Annuity Association of America, who
are the lenders under the loans that are evidenced by the Notes (the "Lenders"),
entered into a Loan Extension and Modification Agreement (the "Extension and
Modification Agreement") to that certain (i) $150.0 million promissory note with
New York Life Insurance Company dated August 15, 2012, and (ii) $150.0 million
promissory note with Teachers Insurance and Annuity Association of America dated
August 15, 2012 (together, the "Notes"). The Extension and Modification
Agreement extended the maturity date of the Notes from September 1, 2022 to
October 1, 2022. To satisfy the conditions precedent of the Extension and
Modification Agreement and effectuate the extension of the maturity date of the
Notes, the Borrowers paid down $1,000,000 of the outstanding principal balance
of the Notes, paid an extension fee equal to 0.10% of the outstanding principal
balance of the Notes and paid certain expenses incurred by the Lenders in
connection with the Extension and Modification Agreement, among other terms and
conditions.

The Extension and Modification agreement also includes an option for the
Borrowers to further extend the maturity date of each Note to November 1, 2022
if an additional $500,000 of the outstanding principal balance of the respective
Note is paid down and an extension fee equal to 0.10% of the outstanding
principal balance of the respective Note is paid, among other terms and
conditions.

The foregoing description of the Extension and Modification Agreement is
qualified in its entirety by reference to the full text of the Extension and
Modification Agreement, which will be filed as an exhibit to the Trust's
Quarterly Report on Form 10-Q to be filed for the quarter ended September 30,
2022.

The Borrowers and the Lenders also entered into a modification and extension of
the mortgage that secures the Notes to extend the term of such mortgage
consistent with the term of the Notes.

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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                             PENNSYLVANIA REAL ESTATE INVESTMENT TRUST

Date: September 7, 2022                      By:   /s/ Lisa M. Most
                                                   Lisa M. Most
                                                   Executive Vice President, Secretary
                                                   and General Counsel