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 October 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 Second Loan Extension and Modification Agreement (the "Second
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 Second
Extension and Modification Agreement extended the maturity date of the Notes
from November 1, 2022 to February 1, 2023. To satisfy the conditions precedent
of the Second Extension and Modification Agreement and effectuate the extension
of the maturity date of the Notes, the Borrowers paid an extension fee of
$2,500,000 and paid certain expenses incurred by the Lenders in connection with
the Second Extension and Modification Agreement, among other terms and
conditions.

The Second Extension and Modification agreement also includes an option for the
Borrowers to further extend the maturity date of the Notes to May 1, 2023 if
(i) an additional $1,000,000 of the outstanding principal balance of the Notes
is paid down on each of the monthly payment dates occurring in February 2023,
March 2023 and April 2023, (ii) an extension fee of $2,500,000 is paid with
respect to the Notes and (iii) the maturity date of the Trust's two secured
credit agreements are extended to December 2023, among other terms and
conditions.

The foregoing description of the Second Extension and Modification Agreement is
qualified in its entirety by reference to the full text of the Second 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.

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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: November 4, 2022                       By:   /s/ Lisa M. Most
                                                   Lisa M. Most
                                                   Executive Vice President, Secretary
                                                   and General Counsel