Pennsylvania Real Estate Investment Trust (PRET) 10-Q 31 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 27, 2014
Document Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'PEI	'
Entity Registrant Name	'PENNSYLVANIA REAL ESTATE INVESTMENT TRUST	'
Entity Central Index Key	'0000077281	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	68,793,240

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
INVESTMENTS IN REAL ESTATE, at cost:	'	'
Operating properties	$3,173,334	$3,450,317
Construction in progress	73,410	68,835
Land held for development	8,721	8,716
Total investments in real estate	3,255,465	3,527,868
Accumulated depreciation	-1,028,846	-1,012,746
Net investments in real estate	2,226,619	2,515,122
INVESTMENTS IN PARTNERSHIPS, at equity:	129,202	15,963
OTHER ASSETS:	'	'
Cash and cash equivalents	51,413	34,230
Tenant and other receivables (net of allowance for doubtful accounts of $13,049 and $13,123 at September 30, 2014 and December 31, 2013, respectively)	35,416	46,439
Intangible assets (net of accumulated amortization of $12,042 and $14,506 at September 30, 2014 and December 31, 2013, respectively)	6,622	9,075
Deferred costs and other assets	89,907	97,752
Total assets	2,539,179	2,718,581
LIABILITIES:	'	'
Mortgage loans payable	1,414,054	1,502,650
Long-term Debt	130,000	'
Revolving Facility	'	130,000
Tenants’ deposits and deferred rent	16,062	17,896
Distributions in excess of partnership investments	64,360	64,491
Fair value of derivative liabilities	1,738	844
Accrued expenses and other liabilities	70,209	76,248
Total liabilities	1,696,423	1,792,129
COMMITMENTS AND CONTINGENCIES (Note 6):	'	'
EQUITY:	'	'
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; issued and outstanding 68,787 shares at September 30, 2014 and 68,293 shares at December 31, 2013	68,787	68,293
Capital contributed in excess of par	1,472,366	1,467,460
Accumulated other comprehensive loss	-5,428	6,637
Distributions in excess of net income	-722,338	-636,939
Total equity—Pennsylvania Real Estate Investment Trust	813,468	892,258
Noncontrolling interest	29,288	34,194
Total equity	842,756	926,452
Total liabilities and equity	2,539,179	2,718,581
Series A Preferred Shares [Member]	'	'
EQUITY:	'	'
Preferred Shares	46	46
Series B Preferred Shares [Member]	'	'
EQUITY:	'	'
Preferred Shares	$35	$35

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Tenant and other receivables, allowance for doubtful accounts	$13,049,000	$13,123,000
Intangible assets, accumulated amortization	12,042,000	14,506,000
Common stock, par value	$1	$1
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	68,741,000	68,293,000
Common stock, shares outstanding	68,741,000	68,293,000
Series A Preferred Shares [Member]	'	'
Preferred shares, par value	$0.01	$0.01
Preferred shares, authorized	25,000,000	25,000,000
Preferred shares, issued	4,600,000	4,600,000
Preferred shares, outstanding	4,600,000	4,600,000
Liquidation preference	115,000,000	115,000,000
Series B Preferred Shares [Member]	'	'
Preferred shares, par value	$0.01	$0.01
Preferred shares, authorized	25,000,000	25,000,000
Preferred shares, issued	3,450,000	3,450,000
Preferred shares, outstanding	3,450,000	3,450,000
Liquidation preference	$86,250,000	$86,250,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'		'		'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	672		825		596	851
Real estate revenue:	'		'		'	'
Base rent	$66,908		$69,851		$209,896	$207,560
Expense reimbursements	31,057		33,275		96,287	95,067
Percentage rent	542		593		1,455	2,159
Lease termination revenue	644		336		898	567
Other real estate revenue	2,638		3,011		8,005	8,438
Total real estate revenue	101,789		107,066		316,541	313,791
Other Nonoperating Income	3,348		3,208		4,807	5,491
Total revenue	105,137		110,274		321,348	319,282
Operating expenses:	'		'		'	'
CAM and real estate taxes	-33,092		-36,416		-107,723	-105,957
Utilities	-5,520		-6,859		-19,571	-16,986
Other operating expenses	-4,315		-4,609		-11,713	-12,255
Total operating expenses	-42,927		-47,884		-139,007	-135,198
Depreciation and amortization	-34,240		-35,770		-107,610	-104,474
Other expenses:	'		'		'	'
General and administrative expenses	-8,373		-8,116		-26,224	-26,578
Impairment of assets	-2,297		-6,304		-19,695	-6,304
Provision for employee separation expense	-85		'		-4,961	-2,314
Acquisition costs and other expenses	-723		-462		-3,329	-862
Total other expenses	11,478		14,882		54,209	36,058
Interest expense, net	-20,071		-23,477		-61,792	-78,503
Total expenses	-108,716		-122,013		-362,618	-354,233
Loss before equity in income of partnerships, net loss on sales of interests in real estate, discontinued operations and gains on sales of discontinued operations	-3,579		-11,739		-41,270	-34,951
Equity in income of partnerships	3,206		2,345		8,392	7,081
Discontinued operations:	'		'		'	'
Operating results from discontinued operations	'		543		0	2,563
Disposal Group Including Discontinued Operation, Impairment of Assets	'		23,662		'	23,662
Gains on sales of discontinued operations	'		45,097		0	78,351
Income from discontinued operations	'		21,978		0	57,252
Net (loss) income	-886		12,584		-33,292	29,382
Less: net loss (income) attributable to noncontrolling interest	27		-382		1,004	-1,073
Net (loss) income attributable to PREIT	-859		12,202		-32,288	28,309
Less: preferred share dividends	-3,962		-3,962		-11,886	-11,886
Net (loss) income attributable to PREIT common shareholders	-4,821		8,240		-44,174	16,423
Loss from continuing operations	-886		-9,394		-33,292	-27,870
Noncontrolling interest	27		277		1,004	954
Dividends on unvested restricted shares	-87		-108		-293	-319
Loss from continuing operations used to calculate loss per share—basic and diluted	-4,908		-13,187		-44,467	-39,121
Noncontrolling interest	'		-659		'	-2,027
Income from discontinued operations used to calculate earnings per share—basic and diluted	'		21,319		'	55,225
Basic and diluted (loss) earnings per share:	'		'		'	'
Loss from continuing operations	($0.07)		($0.20)		($0.65)	($0.63)
Income from discontinued operations	'		$0.32		'	$0.89
Total (in dollars per share)	($0.07)		$0.12		($0.65)	$0.26
Weighted average shares outstanding—basic	68,331		67,579		68,172	62,330
Effect of common share equivalents (1)	'	[1]	'	[1]	'	'	[1]
Weighted average shares outstanding—diluted	68,331		67,579		68,172	62,330
Gains (Losses) on Sales of Investment Real Estate	($513)		$0		($414)	$0
[1]	The Company had net losses from continuing operations used to calculate earnings per share for all periods presented. Therefore, the effects of common share equivalents of 672 and 825 for the three months ended September 30, 2014 and 2013, respectively, and 596 and 851 for the nine months ended September 30, 2014 and 2013, respectively, are excluded from the calculation of diluted loss per share for these periods because they would be antidilutive.

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	672	825	596	851

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Comprehensive (loss) income:	'	'	'	'
Net (loss) income	($886)	$12,584	($33,292)	$29,382
Unrealized gain (loss) on derivatives	2,127	651	-975	8,747
Amortization of losses of settled swaps, net of gains	383	984	2,221	4,766
Total comprehensive income (loss)	1,624	14,219	-32,046	42,895
Less: comprehensive (income) loss attributable to noncontrolling interest	-85	-402	967	-1,523
Comprehensive income (loss) attributable to PREIT	$1,539	$13,817	($31,079)	$41,372

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)

Total

Shares of Beneficial Interest, $1.00 Par [Member]

Capital Contributed In Excess Of Par [Member]

Accumulated Other Comprehensive Loss [Member]

Distributions in Excess of Net Income [Member]

Non-controlling interest [Member]

Series A [Member]

Series A [Member]

Series B [Member]

Series B [Member]

Series A Preferred Shares, $25 plus accrued dividends Liquidation Value [Member]

Series B Preferred Shares, $25 plus accrued dividends Liquidation Value [Member]

In Thousands, unless otherwise specified

Distributions in Excess of Net Income [Member]

Distributions in Excess of Net Income [Member]

December 31, 2013 at Dec. 31, 2013

$926,452

$68,293

$1,467,460

($6,637)

($636,939)

$34,194

'

'

'

'

$46

$35

Increase (Decrease) in Stockholders' Equity [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

Net loss

-33,292

'

'

'

'

-1,004

'

'

'

'

'

'

Net Income (Loss), Excluding Portion Attributable to Noncontrolling Interest

'

'

'

'

-32,288

'

'

'

'

'

'

'

Other comprehensive income

1,246

'

'

1,209

'

37

'

'

'

'

'

'

Shares issued under employee compensation plans, net of shares retired

-1,571

494

-2,065

'

'

'

'

'

'

'

'

'

Amortization of deferred compensation

6,971

'

6,971

'

'

'

'

'

'

'

'

'

Distributions paid to common shareholders ($0.60 per share)

-41,225

'

'

'

-41,225

'

'

'

'

'

'

'

Distributions paid to preferred shareholders

'

'

'

'

'

'

-7,116

-7,116

-4,770

-4,770

'

'

Noncontrolling interests:

'

'

'

'

'

'

'

'

'

'

'

'

Distributions paid to Operating Partnership unit holders ($0.60 per unit)

-1,278

'

'

'

'

-1,278

'

'

'

'

'

'

Amortization Of Historic Tax Credit

-581

'

'

'

'

-581

'

'

'

'

'

'

Other distributions to noncontrolling interests, net

-2,080

'

'

'

'

-2,080

'

'

'

'

'

'

September 30, 2014 at Sep. 30, 2014

$842,756

$68,787

$1,472,366

($5,428)

($722,338)

$29,288

'

'

'

'

$46

$35

CONSOLIDATED_STATEMENTS_OF_EQU1

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	9 Months Ended
	Sep. 30, 2014
Distributions paid to common shareholders	$0.60
Distributions paid to Operating Partnership unit holders	$0.60
Series A [Member]	'
Distributions paid to preferred shareholders	$1.55
Series B [Member]	'
Distributions paid to preferred shareholders	$1.38

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Adjustments to reconcile net (loss) income to net cash provided by operating activities:	'	'
Net (loss) income	($33,292)	$29,382
Depreciation	100,584	99,163
Amortization	7,083	9,932
Straight-line rent adjustments	-1,164	-1,032
Provision for doubtful accounts	1,779	1,872
Amortization of deferred compensation	6,971	6,246
Loss on Hedge Ineffectiveness	1,354	3,409
Gains (Losses) on Sales of Investment Real Estate	414	0
Net losses (gains) on sales of interests in real estate	0	-78,351
Equity in income of partnerships, net of distributions	-1,976	-2,496
Amortization Of Historic Tax Credits Related To Cash Flow	2,508	2,494
Impairment of assets and expensed project costs	20,125	30,416
Change in assets and liabilities:	'	'
Net change in other assets	4,014	-5,051
Net change in other liabilities	-4,872	-6,470
Net cash provided by operating activities	98,512	84,526
Cash flows from investing activities:	'	'
Investments in consolidated real estate acquisitions	-20,000	-60,879
Additions to construction in progress	-30,745	-24,524
Investments in real estate improvements	-40,649	-25,191
Cash proceeds from sales of real estate	165,632	173,280
Additions to leasehold improvements	-953	-212
Investments in partnerships	-5,158	-207
Capitalized leasing costs	-4,223	-3,902
(Increase) decrease in cash escrows	-318	1,600
Cash distributions from partnerships in excess of equity in income	1,537	1,257
Net cash provided by investing activities	65,123	61,222
Cash flows from financing activities:	'	'
Borrowings from (repayments of) term loans	130,000	-182,000
Net (repayments of) borrowings from revolving facility	-130,000	90,000
Proceeds from mortgage loans	'	76,692
Principal installments on mortgage loans	-11,812	-12,698
Repayments of mortgage loans	-76,784	-294,514
Payment of deferred financing costs	-1,896	-3,764
Dividends paid to common shareholders	-41,225	-34,674
Dividends paid to preferred shareholders	-11,886	-11,886
Distributions paid to Operating Partnership unit holders	-1,278	-1,198
Value of shares of beneficial interest issued	3,062	1,315
Value of shares retired under equity incentive plans, net of shares issued	-4,633	-2,418
Net cash used in financing activities	-146,452	-154,845
Net change in cash and cash equivalents	17,183	-9,097
Cash and cash equivalents, beginning of period	34,230	33,990
Cash and cash equivalents, end of period	51,413	'
Proceeds from Issuance of Common Stock	$0	$220,300

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	BASIS OF PRESENTATION
	Nature of Operations
	Pennsylvania Real Estate Investment Trust (“PREIT” or the “Company”) prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the included disclosures are adequate to make the information presented not misleading. Our unaudited consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in PREIT’s Annual Report on Form 10-K for the year ended December 31, 2013. In our opinion, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly our consolidated financial position, the consolidated results of our operations, consolidated statements of other comprehensive income (loss), consolidated statements of equity and our consolidated statements of cash flows are included. The results of operations for the interim periods presented are not necessarily indicative of the results for the full year.
	PREIT, a Pennsylvania business trust founded in 1960 and one of the first equity real estate investment trusts (“REITs”) in the United States, has a primary investment focus on retail shopping malls located in the eastern half of the United States, primarily in the Mid-Atlantic region. As of September 30, 2014, our portfolio consisted of a total of 43 properties in 12 states, including 32 shopping malls, seven other retail properties and four development properties, with two of the development properties classified as “mixed use” (a combination of retail and other uses), one of the properties classified as “other retail” (outlet) and one of the development properties classified as “other.”
	We hold our interest in our portfolio of properties through our operating partnership, PREIT Associates, L.P. (“PREIT Associates” or the “Operating Partnership”). We are the sole general partner of the Operating Partnership and, as of September 30, 2014, we held a 97.0% controlling interest in the Operating Partnership, and consolidated it for reporting purposes. The presentation of consolidated financial statements does not itself imply that the assets of any consolidated entity (including any special-purpose entity formed for a particular project) are available to pay the liabilities of any other consolidated entity, or that the liabilities of any consolidated entity (including any special-purpose entity formed for a particular project) are obligations of any other consolidated entity.
	Pursuant to the terms of the partnership agreement of the Operating Partnership, each of the limited partners has the right to redeem such partner’s units of limited partnership interest in the Operating Partnership (“OP Units”) for cash or, at our election, we may acquire such OP Units in exchange for our common shares on a one-for-one basis, in some cases beginning one year following the respective issue dates of the OP Units and in other cases immediately. If all of the outstanding OP Units held by limited partners had been redeemed for cash as of September 30, 2014, the total amount that would have been distributed would have been $42.5 million, which is calculated using our September 30, 2014 closing price on the New York Stock Exchange of $19.94 per share multiplied by the number of outstanding OP Units held by limited partners, which was 2,129,202 as of September 30, 2014.
	We provide management, leasing and real estate development services through two companies: PREIT Services, LLC (“PREIT Services”), which generally develops and manages properties that we consolidate for financial reporting purposes, and PREIT-RUBIN, Inc. (“PRI”), which generally develops and manages properties that we do not consolidate for financial reporting purposes, including properties owned by partnerships in which we own an interest and properties that are owned by third parties in which we do not have an interest. PREIT Services and PRI are consolidated. PRI is a taxable REIT subsidiary, as defined by federal tax laws, which means that it is able to offer an expanded menu of services to tenants without jeopardizing our continuing qualification as a REIT under federal tax law.
	We evaluate operating results and allocate resources on a property-by-property basis, and do not distinguish or evaluate our consolidated operations on a geographic basis. Due to the nature of our operating properties, which involve retail shopping, we have concluded that our individual properties have similar economic characteristics and meet all other aggregation criteria. Accordingly, we have aggregated our individual properties into one reportable segment. In addition, no single tenant accounts for 10% or more of consolidated revenue, and none of our properties are located outside the United States.
	Fair Value
	Fair value accounting applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements. Fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, these accounting requirements establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).
	Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access.
	Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs might include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.
	Level 3 inputs are unobservable inputs for the asset or liability, and are typically based on an entity’s own assumptions, as there is little, if any, related market activity.
	In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. We utilize the fair value hierarchy in our accounting for derivatives (Level 2) and financial instruments (Level 2) and in our reviews for impairment of real estate assets (Level 3) and goodwill (Level 3).
	New Accounting Developments
	In May 2014, the Financial Accounting Standards Board issued “Revenue from Contracts with Customers.” The objective of this new standard is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of this new standard is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance is effective for annual reporting periods beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt this standard. We are currently evaluating the new guidance and have not determined the impact this standard may have on our financial statements nor have we decided upon the method of adoption.
	In April 2014, we adopted new accounting requirements pertaining to the reporting of discontinued operations. Under these new accounting requirements, only disposals representing a strategic shift in operations will be presented as discontinued operations. Previously, under U.S. GAAP, companies that sold a single investment property were generally required to report the sale as a discontinued operation, which required the companies to reclassify earnings from continuing operations for all periods presented. These new accounting requirements require expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations.
	In 2014, we sold South Mall in Allentown, Pennsylvania, Nittany Mall in State College, Pennsylvania and North Hanover Mall in Hanover, Pennsylvania. We applied these new accounting requirements by reporting the results of operations of these sold properties in the continuing operations section of our unaudited consolidated statements of operations.
	Correction of Prior Period Presentation
	Certain prior period amounts have been reclassified to conform with the current year presentation.
	Our previously reported results of operations for the three and nine months ended September 30, 2013 have been corrected to eliminate certain immaterial intercompany revenues and expenses. These immaterial corrections had no effect on net income (loss), basic or diluted earnings (loss) per share amounts, comprehensive income (loss), shareholders' equity or cash flows. The immaterial corrections reduced both other real estate revenue and other operating expenses by approximately $0.1 million and $0.4 million for the three and nine months ended September 30, 2013, respectively.

Real_Estate_Activities

Real Estate Activities	9 Months Ended
	Sep. 30, 2014
Real Estate [Abstract]	'
Real Estate Activities	'
	REAL ESTATE ACTIVITIES
	Investments in real estate as of September 30, 2014 and December 31, 2013 were comprised of the following:
	(in thousands of dollars)	As of September 30,				As of December 31,
		2014				2013
	Buildings, improvements and construction in progress	$	2,808,363			$	3,049,758
	Land, including land held for development	447,102				478,110
	Total investments in real estate	3,255,465				3,527,868
	Accumulated depreciation	(1,028,846		)		(1,012,746		)
	Net investments in real estate	$	2,226,619			$	2,515,122
	Capitalization of Costs
	The following table summarizes our capitalized salaries, commissions and benefits, real estate taxes and interest for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
	(in thousands of dollars)	2014				2013				2014		2013
	Development/Redevelopment Activities:
	Salaries and benefits	$	201			$	272			$	1,026	$	585
	Real estate taxes	4				4				4		4
	Interest	201				331				494		620
	Leasing Activities:
	Salaries, commissions and benefits	1,394				1,180				4,223		3,902
	Dispositions
	In September 2014, we sold North Hanover Mall in Hanover, Pennsylvania and Nittany Mall in State College, Pennsylvania in a single transaction for a combined sales price of $32.3 million, representing capitalization rates of 11.0% and 16.2% for North Hanover Mall and Nittany Mall, respectively.
	On July 29, 2014, we entered into a 50/50 joint venture with The Macerich Company ("Macerich") to redevelop The Gallery at Market East in Philadelphia, Pennsylvania. In connection therewith, we contributed and sold real estate assets to the venture and Macerich acquired its interest in the venture and real estate from us for $106.8 million in cash, representing a capitalization rate of 5.1%. It is expected that both parties will make additional investments in the project. Net proceeds after closing costs from the sale of the interests was $104.0 million. We used $25.8 million of such proceeds to repay a mortgage loan secured by 801 Market Street, Philadelphia, Pennsylvania, a property that is part of The Gallery at Market East, $50.0 million to repay the outstanding balance on our 2013 Revolving Facility, and the remaining proceeds for general corporate purposes. We recorded a loss of $0.6 million from the sale of these interests. We retained a 50% interest in The Gallery at Market East. We account for the retained 50% investment in The Gallery using the equity method of accounting.
	In June 2014, we sold South Mall in Allentown, Pennsylvania for $23.6 million, representing a capitalization rate of 10.1%. We recorded a gain of $0.2 million from the sale of this property.
	Impairment of Assets
	Nittany Mall
	In 2014, we recorded an aggregate loss on impairment of assets at Nittany Mall in State College, Pennsylvania of $15.5 million. During the three months ended June 30, 2014, we recorded a loss on impairment of assets of $13.9 million when we entered into negotiations with the buyer of the property. During the third quarter of 2014, we recorded an additional $1.6 million loss on impairment of assets following further negotiations with the buyer of the property. As a result of these negotiations, we determined that the holding period for the property was less than had been previously estimated, which we concluded was a triggering event, leading us to conduct an analysis of possible asset impairment at this property. Based upon the purchase and sale agreement with the prospective buyer of the property, we determined that the estimated undiscounted cash flows, net of estimated capital expenditures, for Nittany Mall were less than the carrying value of the property, and recorded both the initial loss on impairment of assets and the subsequent additional loss on impairment of assets.
	North Hanover Mall
	In 2014, we recorded an aggregate loss on impairment of assets at North Hanover Mall in Hanover, Pennsylvania of $2.9 million. During the three months ended June 30, 2014, we recorded a loss on impairment of assets of $2.2 million when we entered into negotiations with the buyer of the property. During the third quarter of 2014, we recorded an additional $0.7 million loss on impairment of assets following further negotiations with the buyer of the property. As a result of these negotiations, we determined that the holding period for the property was less than had been previously estimated, which we concluded was a triggering event, leading us to conduct an analysis of possible asset impairment at this property. Based upon the purchase and sale agreement with the prospective buyer of the property, we determined that the estimated undiscounted cash flows, net of estimated capital expenditures, for North Hanover were less than the carrying value of the property, and recorded both the initial loss on impairment of assets and the subsequent additional loss on impairment of assets. We previously recognized losses on impairment of assets on North Hanover of $6.3 million in 2013 and $24.1 million in 2011.
	South Mall
	In March 2014, we recorded a loss on impairment of assets at South Mall in Allentown, Pennsylvania of $1.3 million. We sold the property in June 2014. During the three months ended March 31, 2014, we entered into negotiations with a potential buyer of the property, and as a result of these negotiations, we determined that the holding period for the property was less than had been previously estimated, which we concluded was a triggering event, leading us to conduct an analysis of possible asset impairment at this property. Using updated assumptions, we determined that the estimated undiscounted cash flows, net of estimated capital expenditures, for South Mall were less than the carrying value of the property, and recorded the loss on impairment of assets.
	Discontinued Operations
	We have presented as discontinued operations the operating results of Phillipsburg Mall, Orlando Fashion Square, Chambersburg Mall, Paxton Towne Centre, Christiana Center and Commons at Magnolia, which are properties that were sold in 2013. The following table summarizes revenue and expense information for the three and nine months ended September 30, 2013 for these discontinued operations (there were no properties classified in discontinued operations in the three or nine months ended September 30, 2014):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
	(in thousands of dollars)		2013					2013
	Real estate revenue		$	2,491				$	9,379
	Expenses:
	Operating expenses		(1,109		)			(3,989		)
	Depreciation and amortization		(345		)			(1,074		)
	Interest expense		(494		)			(1,753		)
	Total expenses		(1,948		)			(6,816		)
	Operating results from discontinued operations		543					2,563
	Impairment of assets of discontinued operations		(23,662		)			(23,662		)
	Gains on sales of discontinued operations		45,097					78,351
	Income from discontinued operations		$	21,978				$	57,252

Investments_in_Partnerships

Investments in Partnerships	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Investments in Partnerships	'
	INVESTMENTS IN PARTNERSHIPS
	The following table presents summarized financial information of the equity investments in our unconsolidated partnerships as of September 30, 2014 and December 31, 2013:
	(in thousands of dollars)	As of September 30, 2014				As of December 31, 2013
	ASSETS:
	Investments in real estate, at cost:
	Operating properties	$	661,556			$	416,964
	Construction in progress	24,988				2,298
	Total investments in real estate	686,544				419,262
	Accumulated depreciation	(206,732		)		(169,369		)
	Net investments in real estate	479,812				249,893
	Cash and cash equivalents	15,360				15,327
	Deferred costs and other assets, net	38,506				19,474
	Total assets	533,678				284,694
	LIABILITIES AND PARTNERS’ INVESTMENT (DEFICIT):
	Mortgage loans payable	393,552				398,717
	Other liabilities	25,313				9,667
	Total liabilities	418,865				408,384
	Net investment (deficit)	114,813				(123,690		)
	Partners’ share	58,790				(66,325		)
	PREIT’s share	56,023				(57,365		)
	Excess investment (1)	8,819				8,837
	Net investments and advances	$	64,842			$	(48,528	)
	Investment in partnerships, at equity	$	129,202			$	15,963
	Distributions in excess of partnership investments	(64,360		)		(64,491		)
	Net investments and advances	$	64,842			$	(48,528	)
	_________________________
	(1)	Excess investment represents the unamortized difference between our investment and our share of the equity in the underlying net investment in the partnerships. The excess investment is amortized over the life of the properties, and the amortization is included in “Equity in income of partnerships.”
	We record distributions from our equity investments as cash from operating activities up to an amount equal to the equity in income of partnerships. Amounts in excess of our share of the income in the equity investments are treated as a return of partnership capital and recorded as cash from investing activities.
	The following table summarizes our share of equity in income of partnerships for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
	(in thousands of dollars)	2014				2013				2014				2013
	Real estate revenue	$	25,684			$	20,117			$	67,191			$	59,839
	Expenses:
	Operating expenses	(8,659		)		(6,001		)		(21,508		)		(17,672		)
	Interest expense	(5,483		)		(5,539		)		(16,410		)		(16,656		)
	Depreciation and amortization	(4,972		)		(3,695		)		(12,035		)		(10,801		)
	Total expenses	(19,114		)		(15,235		)		(49,953		)		(45,129		)
	Net income	6,570				4,882				17,238				14,710
	Less: Partners’ share	(3,283		)		(2,435		)		(8,614		)		(7,319		)
	PREIT’s share	3,287				2,447				8,624				7,391
	Amortization of excess investment	(81		)		(102		)		(232		)		(310		)
	Equity in income of partnerships	$	3,206			$	2,345			$	8,392			$	7,081
	Acquisitions
	In June 2014, we contributed $3.2 million, representing a 25% interest, to the partnership that will be developing Gloucester Premium Outlets in Gloucester Township, New Jersey. The partnership used our and our partners’ contribution to purchase the land on which the property will be developed.
	Financing Activity
	In June 2014, the partnership that will be developing Gloucester Premium Outlets entered into a $90.0 million construction loan. The initial term of the loan is four years with an extension option for one year. The loan is interest only and the interest rate is LIBOR plus 1.50% during the initial term and decreases to LIBOR plus 1.40% if and when the project is completed and a 1.10x debt service coverage ratio is achieved.
	Lehigh Valley Mall
	We have a 50% partnership interest in Lehigh Valley Associates LP, the owner of the substantial majority of Lehigh Valley Mall, which is a significant unconsolidated subsidiary, and which is included in the amounts above. Summarized balance sheet information as of September 30, 2014 and December 31, 2013 and summarized statement of operations information for the three and nine months ended September 30, 2014 and 2013 for this entity, which is accounted for using the equity method, is as follows:
			As of
	(in thousands of dollars)		September 30, 2014				December 31, 2013
	Summarized balance sheet information
	Total assets		$	53,168			$	55,592
	Mortgage loan payable		131,943				133,542
			Three Months Ended								Nine Months Ended
			September 30,								September 30,
	(in thousands of dollars)		2014				2013				2014				2013
	Summarized statement of operations information
	Revenue		$	9,037			$	8,818			$	27,133			$	26,042
	Property operating expenses		(2,297		)		(2,469		)		(7,516		)		(7,067		)
	Interest expense		(1,956		)		(1,987		)		(5,891		)		(5,982		)
	Net income		3,984				3,508				11,066				10,536
	PREIT's share of equity in income of partnership		1,992				1,754				5,533				5,268

Financing_Activity

Financing Activity	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Financing Activity	'
	FINANCING ACTIVITY
	2013 Revolving Facility, as amended
	In April 2013, PREIT, PREIT Associates, and PRI (collectively, the “Borrower” or “we”) entered into a credit agreement (as amended, the “2013 Revolving Facility”) with Wells Fargo Bank, National Association, and the other financial institutions signatory thereto, for a $400.0 million senior unsecured revolving credit facility. The 2013 Revolving Facility replaced the previously existing 2010 Credit Facility. In December 2013, we amended the 2013 Revolving Facility to make certain terms of the 2013 Revolving Facility consistent with the terms of the 2014 Term Loans (discussed below). The 2013 Revolving Facility and the 2014 Term Loans are collectively referred to as the "Credit Agreements." All capitalized terms used in this note 4 and not otherwise defined herein have the meanings ascribed to such terms in the 2013 Revolving Facility.
	As of September 30, 2014, there were no amounts outstanding under our 2013 Revolving Facility, and $7.1 million was pledged as collateral for letters of credit. The unused portion of the 2013 Revolving Facility that was available to us was $392.9 million.
	Interest expense related to the 2013 Revolving Facility was $0.4 million and $0.8 million for the three months ended September 30, 2014 and 2013, respectively, and $1.2 million and $1.6 million for the nine months ended September 30, 2014 and 2013, respectively. Deferred financing fee amortization associated with the 2013 Revolving Facility was $0.4 million for each of the three months ended September 30, 2014 and 2013, and $1.1 million and $0.8 million for the nine months ended September 30, 2014 and 2013, respectively.
	The initial maturity of the 2013 Revolving Facility is April 17, 2016, and the Borrower has options for two one-year extensions of the initial maturity date, subject to certain conditions and to the payment of extension fees of 0.15% and 0.20% of the Facility Amount for the first and second options, respectively.
	Subject to the terms of the Credit Agreements, the Borrower has the option to increase the maximum amount available under the 2013 Revolving Facility, through an accordion option, from $400.0 million to as much as $600.0 million, in increments of $5.0 million (with a minimum increase of $25.0 million), based on Wells Fargo Bank’s ability to obtain increases in Revolving Commitments from the current lenders or Revolving Commitments from new lenders. No option to increase the maximum amount available under the 2013 Revolving Facility has been exercised by the Borrower.
	Amounts borrowed under the 2013 Revolving Facility bear interest at a rate between 1.50% and 2.05% per annum, depending on PREIT’s leverage, in excess of LIBOR, with no floor, as set forth in the table below. The rate in effect at September 30, 2014 was 1.70% per annum in excess of LIBOR. In determining PREIT’s leverage (the ratio of Total Liabilities to Gross Asset Value), the capitalization rate used to calculate Gross Asset Value is (a) 6.50% for each Property having an average sales per square foot of more than $500 for the most recent period of 12 consecutive months, and (b) 7.50% for any other Property.
	Level	Ratio of Total Liabilities to Gross Asset Value	Applicable Margin
	1	Less than 0.450 to 1.00	1.5	%
	2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.7	%
	3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.85	%
	4	Equal to or greater than 0.550 to 1.00	2.05	%
	In the event that we seek and obtain an investment grade credit rating, alternative interest rates would apply. The unused portion of the 2013 Revolving Facility is subject to a fee of 0.30% per annum. In the event that we seek and obtain an investment grade credit rating, alternative facility fees would apply.
	PREIT and the subsidiaries of PREIT that either (1) account for more than 2.5% of adjusted Gross Asset Value (other than an Excluded Subsidiary), (2) own or lease an Unencumbered Property, or (3) own, directly or indirectly, a subsidiary described in clause (2) serve as guarantors for funds borrowed under the 2013 Credit Facility. In the event that we seek and obtain an investment grade credit rating, we may request that a subsidiary guarantor be released, unless such guarantor becomes obligated in respect of the debt of the Borrower or another subsidiary or owns Unencumbered Property or incurs recourse debt.
	The 2013 Revolving Facility and the 2014 Term Loans (discussed below) are cross-defaulted with one another.
	The 2013 Revolving Facility and the 2014 Term Loans contain certain affirmative and negative covenants which are identical and which are described in detail below in the section entitled “Identical covenants contained in the 2013 Revolving Facility, 2014 Term Loans and Letter of Credit.” As of September 30, 2014, the Borrower was in compliance with all such financial covenants.
	The Borrower may prepay the 2013 Revolving Facility at any time without premium or penalty, subject to reimbursement obligations for the lenders’ breakage costs for LIBOR borrowings. The Borrower must repay the entire principal amount outstanding under the 2013 Revolving Facility at the end of its term, as the term may be extended.
	Upon the expiration of any applicable cure period following an event of default, the lenders may declare all of the obligations in connection with the 2013 Revolving Facility immediately due and payable, and the Commitments of the lenders to make further loans under the 2013 Revolving Facility will terminate. Upon the occurrence of a voluntary or involuntary bankruptcy proceeding of PREIT, PREIT Associates, PRI, any Material Subsidiary, any subsidiary that owns or leases an Unencumbered Property or certain other subsidiaries, all outstanding amounts will automatically become immediately due and payable and the Commitments of the lenders to make further loans will automatically terminate.
	2014 Term Loans
	On January 8, 2014, the Borrower entered into two unsecured term loans in the initial aggregate amount of $250.0 million, comprised of:
	(1) a 5 Year Term Loan Agreement (the “5 Year Term Loan”) with Wells Fargo Bank, National Association, U.S. Bank National Association and the other financial institutions signatory thereto, for a $150.0 million senior unsecured 5 year term loan facility; and
	(2) a 7 Year Term Loan Agreement (the “7 Year Term Loan” and, together with the 5 Year Term Loan, the “2014 Term Loans”) with Wells Fargo Bank, National Association, Capital One, National Association and the other financial institutions signatory thereto, for a $100.0 million senior unsecured 7 year term loan facility.
	Amounts borrowed under the 2014 Term Loans bear interest at the rate specified below per annum, depending on PREIT’s leverage, in excess of LIBOR, with no floor. In determining PREIT’s leverage (the ratio of Total Liabilities to Gross Asset Value), the capitalization rate used to calculate Gross Asset Value is (a) 6.50% for each Property having an average sales per square foot of more than $500 for the most recent period of 12 consecutive months, and (b) 7.50% for any other Property.
	Level	Ratio of Total Liabilities	5 Year Term Loan	7 Year Term Loan
		to Gross Asset Value	Applicable Margin	Applicable Margin
	1	Less than 0.450 to 1.00	1.35%	1.80%
	2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.45%	1.95%
	3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.60%	2.15%
	4	Equal to or greater than 0.550 to 1.00	1.90%	2.35%
	The initial rate in effect under the 5 Year Term Loan was 1.45% per annum in excess of LIBOR. The initial rate in effect under the 7 Year Term Loan was 1.95% per annum in excess of LIBOR.
	If PREIT seeks and obtains an investment grade credit rating and so notifies the lenders under the respective 2014 Term Loans, alternative interest rates would apply.
	The table set forth below presents the amount outstanding, interest rate (inclusive of the LIBOR spread) in effect and the maturity dates of the 2014 Term Loans as of September 30, 2014:
	(in millions of dollars)	5 Year Term Loan			7 Year Term Loan
	Total facility	$	150		$	100
	Amount outstanding	$	100		$	30
	Interest rate	1.6		%	2.1		%
	Maturity date	Jan-19			Jan-21
	Interest expense related to the 2014 Term Loans was $1.2 million and $3.4 million for the three and nine months ended September 30, 2014, respectively. Deferred financing fee amortization associated with the 2014 Term Loans was $0.1 million and $0.2 million for the three and nine months ended September 30, 2014, respectively.
	Under the 2014 Term Loans, there is a deferred draw feature that enables PREIT to borrow the amounts specified in each of the term loans over a period of up to one year. From the effective date until either one year later or until the maximum amount under the respective loan is borrowed (or until the lenders’ commitments are otherwise terminated), the unused portion of the 2014 Term Loans is subject to a fee of 0.20%, in the case of the 5 year Term Loan, and 0.35%, in the case of the 7 Year Term Loan, per annum. There is an additional commitment termination fee under the 7 Year Term Loan if the maximum amount is not borrowed within one year.
	PREIT and the subsidiaries of PREIT that either (1) account for more than 2.5% of adjusted Gross Asset Value (other than an Excluded Subsidiary), (2) own or lease an Unencumbered Property, (3) own, directly or indirectly, a subsidiary described in clause (2), or (4) are guarantors under the 2013 Revolving Facility serve as guarantors for funds borrowed under the 2014 Term Loans. In the event that we seek and obtain an investment grade credit rating, we may request that a subsidiary guarantor be released, unless such guarantor becomes obligated in respect of the debt of the Borrower or another subsidiary, or owns Unencumbered Property and incurs recourse debt.
	Subject to the terms of the Credit Agreements, the Borrower has the option to increase the maximum amount available under the 5 Year Term Loan, through an accordion option (subject to certain conditions), from $150.0 million to as much as $300.0 million, in increments of $5.0 million (with a minimum increase of $25.0 million), based on Wells Fargo Bank’s ability to obtain increases in commitments from the current lenders or from new lenders.
	Subject to the terms of the Credit Agreements, the Borrower has the option to increase the maximum amount available under the 7 Year Term Loan, through an accordion option (subject to certain conditions), from $100.0 million to as much as $200.0 million, in increments of $5.0 million (with a minimum increase of $25.0 million), based on Wells Fargo Bank’s ability to obtain increases in commitments from the current lenders or from new lenders.
	The 2014 Term Loans and the 2013 Revolving Facility contain certain affirmative and negative covenants which are identical and are described in detail below in the section “Identical covenants contained in the 2013 Revolving Facility, 2014 Term Loans and Letter of Credit.”
	The Borrower may prepay the 5 Year Term Loan at any time without premium or penalty, subject to reimbursement obligations for the lenders’ breakage costs for LIBOR borrowings. The payment of the 7 Year Term Loan prior to its maturity is subject to reimbursement obligations for the lenders’ breakage costs for LIBOR borrowings and a declining prepayment penalty ranging from 3% within one year after closing, to 2% within two years, to 1% within three years and without penalty thereafter.
	Upon the expiration of any applicable cure period following an event of default, the lenders may declare all of the obligations in connection with the 2014 Term Loans immediately due and payable, and before the one year anniversary of the effective date, the commitments of the lenders to make further loans, if any, under the 2014 Term Loans would terminate. Upon the occurrence of a voluntary or involuntary bankruptcy proceeding of PREIT, PREIT Associates, PRI, any material subsidiary, any subsidiary that owns or leases an Unencumbered Property or certain other subsidiaries, all outstanding amounts would automatically become immediately due and payable and, before the one year anniversary of the effective date, the commitments of the lenders to make further loans will automatically terminate.
	PREIT has used and may use the proceeds of the 2014 Term Loans for the repayment of debt, for the payment of development or redevelopment costs, and for working capital and general corporate purposes.
	Letter of Credit for Springfield Town Center Acquisition
	In connection with the agreement to acquire Springfield Town Center (see note 6), in March 2014, we obtained a $46.5 million letter of credit from Wells Fargo Bank, National Association (the “Letter of Credit”). Amounts secured under the Letter of Credit for Springfield Town Center are subject to a fee per annum, depending on PREIT’s leverage. The initial fee in effect is 1.15% per annum. The Letter of Credit initially expires in July 2015 and may be extended up to one year.  The Letter of Credit is subject to covenants that are identical to those contained in the 2013 Revolving Facility and the 2014 Term Loans.  We expect that the Letter of Credit will be terminated at the closing of the Springfield Town Center acquisition.
	Identical covenants contained in the 2013 Revolving Facility, 2014 Term Loans and Letter of Credit
	The 2013 Revolving Facility, 2014 Term Loans, and the Letter of Credit contain certain affirmative and negative covenants which are identical, including, without limitation, requirements that PREIT maintain, on a consolidated basis: (1) minimum Tangible Net Worth of not less than 75% of the Company’s tangible net worth on December 31, 2012, plus 75% of the Net Proceeds of all Equity Issuances effected at any time after December 31, 2012; (2) maximum ratio of Total Liabilities to Gross Asset Value of 0.60:1, provided that it will not be a Default if the ratio exceeds 0.60:1 but does not exceed 0.625:1, for more than two consecutive quarters on more than two occasions during the term; (3) minimum ratio of Adjusted EBITDA to Fixed Charges of 1.50:1 (4) minimum Unencumbered Debt Yield of 12.0%; (5) minimum Unencumbered NOI to Unsecured Interest Expense of 1.75:1; (6) maximum ratio of Secured Indebtedness to Gross Asset Value of 0.60:1; (7) maximum Investments in unimproved real estate and predevelopment costs not in excess of 5.0% of Gross Asset Value; (8) maximum Investments in Persons other than Subsidiaries, Consolidated Affiliates and Unconsolidated Affiliates not in excess of 5.0% of Gross Asset Value; (9) maximum Mortgages in favor of the Borrower or any other Subsidiary not in excess of 5.0% of Gross Asset Value; (10) the aggregate value of the Investments and the other items subject to the preceding clauses (7) through (9) not in excess of 10.0% of Gross Asset Value; (11) maximum Investments in Consolidation Exempt Entities not in excess of 25.0% of Gross Asset Value; (12) maximum Projects Under Development not in excess of 15.0% of Gross Asset Value; (13) the aggregate value of the Investments and the other items subject to the preceding clauses (7) through (9) and (11) and (12) not in excess of 35.0% of Gross Asset Value; (14) Distributions may not exceed (A) with respect to our preferred shares, the amounts required by the terms of the preferred shares, and (B) with respect to our common shares, the greater of (i) 95.0% of Funds From Operations and (ii) 110% of REIT taxable income for a fiscal year; and (15) PREIT may not permit the amount of the Gross Asset Value attributable to assets directly owned by PREIT, PREIT Associates, PRI and the guarantors to be less than 95% of Gross Asset Value excluding assets owned by Excluded Subsidiaries or Unconsolidated Affiliates.
	These covenants and restrictions limit PREIT’s ability to incur additional indebtedness, grant liens on assets and enter into negative pledge agreements, merge, consolidate or sell all or substantially all of its assets and enter into certain transactions with affiliates. The 2013 Revolving Facility, the 2014 Term Loans and the Letter of Credit are subject to customary events of default and are cross-defaulted with one another.
	As of September 30, 2014, the Borrower was in compliance with all such financial covenants. Following recent property sales, the NOI from the Company’s remaining unencumbered properties is at a level such that the maximum unsecured amount that the Company may currently borrow within the Unencumbered Debt Yield covenant, including under the $400.0 million 2013 Revolving Facility and the $250.0 million aggregate 2014 Term Loans, is an aggregate of $561.4 million.    As of September 30, 2014, the Company had borrowed $130.0 million under the 2014 Term Loans and there were no amounts outstanding under the 2013 Revolving Facility (with $7.1 million pledged as collateral for letters of credit).
	2010 Credit Facility
	Prior to the 2013 Revolving Facility, we had a secured credit facility consisting of a revolving line of credit with a capacity of $250.0 million (the “2010 Revolving Facility”) and term loans with an aggregate balance of $97.5 million (collectively, the “2010 Term Loan” and, together with the 2010 Revolving Facility, the “2010 Credit Facility”).
	Interest expense related to the 2010 Revolving Facility was $0.4 million for the nine months ended September 30, 2013.
	The weighted average effective interest rate based on amounts borrowed under the 2010 Term Loan for the nine months ended September 30, 2013 was 3.93%. Interest expense, excluding non-cash amortization and accelerated amortization of deferred financing fees related to the 2010 Term Loan, was $2.4 million for the nine months ended September 30, 2013.
	Deferred financing fee amortization associated with the 2010 Credit Facility was $0.8 million for the nine months ended September 30, 2013. Accelerated deferred financing fee amortization was $0.9 million for the nine months ended September 30, 2013, including $0.8 million in connection with permanent paydowns of the 2010 Term Loan of $84.5 million in January and February 2013, and $0.1 million in connection with the $97.5 million final permanent paydown of the 2010 Term Loan in April 2013.
	Mortgage Loans
	The carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at September 30, 2014 and December 31, 2013 were as follows:
		30-Sep-14						31-Dec-13
	(in millions of dollars)	Carrying Value			Fair Value			Carrying Value		Fair Value
	Mortgage loans	$	1,414.10		$	1,405.70		$	1,502.70	$	1,467.90
The mortgage loans contain various customary default provisions. As of September 30, 2014, we were not in default on any of the mortgage loans.
Mortgage Loan Activity
In July 2014, we repaid a $25.8 million mortgage loan plus accrued interest secured by 801 Market Street, Philadelphia, Pennsylvania, a property that is part of The Gallery at Market East in Philadelphia, Pennsylvania, using proceeds from the transaction relating to The Gallery at Market East with The Macerich Company.
In July 2014, we repaid a $51.0 million mortgage loan plus accrued interest secured by Logan Valley Mall in Altoona, Pennsylvania using $50.0 million from our 2013 Revolving Facility and $1.0 million from available working capital. The $50.0 million borrowed from the 2013 Revolving Facility was subsequently repaid in July 2014 using proceeds from the transaction relating to The Gallery at Market East with The Macerich Company.
Interest Rate Risk
We follow established risk management policies designed to limit our interest rate risk on our interest bearing liabilities, as further discussed in note 7 to our unaudited consolidated financial statements.

Cash_Flow_Information

Cash Flow Information	9 Months Ended
	Sep. 30, 2014
Supplemental Cash Flow Elements [Abstract]	'
Cash Flow Information	'
	CASH FLOW INFORMATION
	Cash paid for interest was $55.8 million (net of capitalized interest of $0.5 million) and $73.1 million (net of capitalized interest of $0.6 million) for the nine months ended September 30, 2014 and 2013, respectively.
	In our statement of cash flows, we show cash flows on our revolving facilities on a net basis. Aggregate borrowings on our revolving facilities were $140.0 million and $432.5 million for the nine months ended September 30, 2014 and 2013, respectively. Aggregate paydowns were $270.0 million and $342.5 million for the nine months ended September 30, 2014 and 2013, respectively.
	In July 2014, we entered into a 50/50 joint venture with The Macerich Company to redevelop The Gallery at Market East in Philadelphia, Pennsylvania. We contributed and sold real estate assets to the venture and Macerich acquired its interest in the venture and real estate from us. In connection with the transaction, we reclassified the retained assets of The Gallery at Market East of approximately $106.9 million from Operating Properties to the line item, “Investments in partnerships, at equity.”

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	COMMITMENTS AND CONTINGENCIES
	Contractual Obligations
	As of September 30, 2014, we had unaccrued contractual and other commitments related to our capital improvement projects and development projects of $19.4 million in the form of tenant allowances and contracts with general service providers and other professional service providers.
	Springfield Town Center
	On March 2, 2014, we entered into a Contribution Agreement (the “Contribution Agreement”) relating to the acquisition of Springfield Town Center in Springfield, Virginia (the “Property”) for total consideration of $465.0 million. The total consideration is expected to be funded using $125.0 million of common and preferred Operating Partnership units, with the remaining balance to be paid in cash. We expect to provide the remaining cash balance by borrowing from the amounts available under our existing credit agreements. In addition, the seller of the Property may be entitled to certain additional consideration based on the value of the Property three years after the closing date. The closing is subject to the substantial completion of the redevelopment of the Property in accordance with plans and specifications for such redevelopment, as well as certain other customary closing conditions.
	Pursuant to the Contribution Agreement, closing will occur after all of the conditions to closing have been satisfied or waived, on the date that is the earlier of (i) fifteen days after the later of the date on which Regal Cinemas, Dick’s Sporting Goods and at least seventy-five percent (75%) of the aggregate square footage of the in-line space of the Property are occupied, certificates of occupancy have been issued with respect to all of the common areas of the Property and the “grand opening” of the Property has occurred, and (ii) March 31, 2015 (which date may be extended in certain circumstances). The “grand opening” took place on October 17, 2014.
	In connection with this Contribution Agreement, we have obtained a $46.5 million letter of credit and have incurred $2.3 million of acquisition related expenses as of September 30, 2014. These expenses are included in "Acquisition costs and other expenses" on the consolidated statements of operations for the three and nine months ended September 30, 2014.
	Employee Separation
	In May 2014, George F. Rubin separated from his position as Vice Chairman of PREIT. Under the terms of Mr. Rubin’s separation agreement from the Company, which became effective in June 2014, we recorded employee separation expense of $4.1 million in the second quarter of 2014. In August 2014, Mr. Rubin received a payment of approximately $2.6 million, which amount is in addition to the payment of the amounts accrued under Mr. Rubin’s supplemental retirement plan.  All of Mr. Rubin’s outstanding unvested restricted shares became vested in connection with his separation and he remains eligible to receive shares under the Company’s Restricted Share Unit Programs based on the achievement of the performance metrics established by those programs as if his employment had not terminated.  Mr. Rubin’s term as a member of the Company’s board of trustees expired at the Company’s Annual Meeting held on May 30, 2014.
	In the second quarter of 2014, we terminated the employment of certain employees. In connection with the departure of those employees, we recorded an additional $0.1 million and $0.9 million of employee separation expense in the three and nine months ended September 30, 2014, respectively.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives	'
	DERIVATIVES
	In the normal course of business, we are exposed to financial market risks, including interest rate risk on our interest bearing liabilities. We attempt to limit these risks by following established risk management policies, procedures and strategies, including the use of financial instruments such as derivatives. We do not use financial instruments for trading or speculative purposes.
	Cash Flow Hedges of Interest Rate Risk
	Our outstanding derivatives have been designated under applicable accounting authority as cash flow hedges. The effective portion of changes in the fair value of derivatives designated as, and that qualify as, cash flow hedges is recorded in “Accumulated other comprehensive income (loss)” and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. To the extent these instruments are ineffective as cash flow hedges, changes in the fair value of these instruments are recorded in “Interest expense, net.”
	We recognize all derivatives at fair value as either assets or liabilities in the accompanying consolidated balance sheets. The carrying amount of the derivative assets is reflected in “Deferred costs and other assets,” the amount of the associated liabilities is reflected in “Accrued expenses and other liabilities” and the amount of the net unrealized loss is reflected in “Accumulated other comprehensive income (loss)” in the accompanying balance sheets.
	Amounts reported in “Accumulated other comprehensive income (loss)” that are related to derivatives will be reclassified to “Interest expense, net” as interest payments are made on our corresponding debt. During the next 12 months, we estimate that $3.6 million will be reclassified as an increase to interest expense in connection with derivatives. The amortization of these amounts could be accelerated in the event that we repay amounts outstanding on the debt instruments and do not replace them with new borrowings.
	Interest Rate Swaps
	As of September 30, 2014, we had entered into 12 interest rate swap agreements with a weighted average interest rate of 1.67% on a notional amount of $327.9 million maturing on various dates through January 2019.
	We entered into these interest rate swap agreements in order to hedge the interest payments associated with our issuances of variable interest rate long term debt. We have assessed the effectiveness of these interest rate swap agreements as hedges at inception and on a quarterly basis. As of September 30, 2014, except as set forth below, we considered these interest rate swap agreements to be highly effective as cash flow hedges. The interest rate swap agreements are net settled monthly.
	As a result of our July 2014 repayment of the $25.8 million mortgage loan secured by 801 Market Street, Philadelphia, Pennsylvania, we anticipated that we would not have sufficient 1-month LIBOR based interest payments to meet the entire swap notional amount related to two of our swaps, and we estimated that this condition will exist until approximately March 2015. As such, previously deferred losses in other comprehensive income for the period from July 2014 to March 2015 in the amount of $0.1 million related to these interest rate swaps were reclassified into interest expense during the three months ended September 30, 2014. These swaps, with an aggregate notional amount of $40.0 million, do not qualify for hedge accounting during the period from July 2014 to March 2015 as a result of the unrealized forecasted transactions. These swaps are scheduled to expire by their terms in January 2019.
	In June 2014, we gave notice to the mortgage lender that we intended to repay the mortgage loan secured by Logan Valley Mall, and in connection therewith, we recorded hedge ineffectiveness of $1.2 million in the three months ended June 30, 2014. The notice of our intention to repay the mortgage loan made it probable that the hedged transaction identified in our original hedge documentation would not occur, and in June 2014, we reclassified $1.2 million from accumulated other comprehensive loss to interest expense. We repaid the mortgage loan secured by Logan Valley Mall in July 2014.
	Accumulated other comprehensive loss as of September 30, 2014 includes a net loss of $2.7 million relating to forward starting swaps that we cash settled in prior years that are being amortized over 10 year periods commencing on the closing dates of the debt instruments that are associated with these settled swaps.
	The following table summarizes the terms and estimated fair values of our interest rate swap derivative instruments at September 30, 2014 and December 31, 2013. The notional values provide an indication of the extent of our involvement in these instruments, but do not represent exposure to credit, interest rate or market risks.
	(in millions of dollars)		Fair Value at			Fair Value at			Interest			Maturity Date
	Notional Value		September 30,			December 31,			Rate
			2014 (1)			2013 (1)
	Interest Rate Swaps
	$25.00		$	(0.2	)	$	(0.3	)	1.1	%		July 31, 2016
	28.1		(0.4		)	(0.5		)	1.38	%		January 2, 2017
	34.2		0.2			0.2			3.72	%		December 1, 2017
	7.6		0.1			0.1			1	%		January 1, 2018
	55		0.2			0.2			1.12	%		January 1, 2018
	48		0.2			0.2			1.12	%		January 1, 2018
	30		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
			$	(1.1	)	$	(0.1	)
	_________________________
	(1)	As of September 30, 2014 and December 31, 2013, derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. As of September 30, 2014 and December 31, 2013, we did not have any significant recurring fair value measurements related to derivative instruments using significant unobservable inputs (Level 3).
	The table below presents the effect of derivative financial instruments on our consolidated statements of operations and on our share of our partnerships’ statements of operations for the three and nine months ended September 30, 2014 and 2013:
			Three Months Ended						Nine Months Ended							Consolidated
			September 30,						September 30,							Statements of
																Operations
	(in millions of dollars)		2014			2013			2014				2013			Location
	Derivatives in cash flow hedging relationships:
	Interest rate products
	Gain (loss) recognized in Other Comprehensive Income (Loss) on derivatives		$	1.4		$	0.3		$	(0.7	)		$	7.9		N/A
	Loss reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion)		$	1		$	2		$	3.3			$	9		Interest expense
	Loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)		$	(0.1	)	$	(0.7	)	$	(1.4	)		$	(3.4	)	Interest expense
	Credit-Risk-Related Contingent Features
	We have agreements with some of our derivative counterparties that contain a provision pursuant to which, if our entity that originated such derivative instruments defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. As of September 30, 2014, we were not in default on any of our derivative obligations.
	We have an agreement with a derivative counterparty that incorporates the loan covenant provisions of our loan agreement with a lender affiliated with the derivative counterparty. Failure to comply with the loan covenant provisions would result in our being in default on any derivative instrument obligations covered by the agreement.
	As of September 30, 2014, the fair value of derivatives in a net liability position, which excludes accrued interest but includes any adjustment for nonperformance risk related to these agreements, was $1.1 million. If we had breached any of the default provisions in these agreements as of September 30, 2014, we might have been required to settle our obligations under the agreements at their termination value (including accrued interest) of $1.4 million. We had not breached any of these provisions as of September 30, 2014.

Historic_Tax_Credits_Notes

Historic Tax Credits (Notes)	9 Months Ended
	Sep. 30, 2014
Historic Tax Credits [Abstract]	'
Historic Tax Credits [Text Block]	'
	HISTORIC TAX CREDITS
	Phase I
	In the third quarter of 2009, we closed a transaction with a counterparty (the “Phase I Counterparty”) related to the historic rehabilitation of an office building located at 801 Market Street in Philadelphia, Pennsylvania (the “Phase I Project”). Capital contributions received from the Phase I Counterparty are, in substance, consideration that we received in exchange for a put option (whereby we might be obligated or entitled to repurchase the Phase I Counterparty’s ownership interest in the Phase I Project) and our obligation to deliver tax credits to the Phase I Counterparty. The Phase I Counterparty’s contributions, other than the amounts allocated to the put option, are classified as “Noncontrolling interest” and recognized as “Other income” in the consolidated financial statements as our obligation to deliver tax credits is relieved.
	The tax credits are subject to a five year credit recapture period, as defined in the Internal Revenue Code of 1986, as amended, beginning one year after the completion of the Phase I Project, which was completed in the third quarter of 2009. Our obligation to the Phase I Counterparty with respect to the tax credits is ratably relieved annually in the third quarter of each year, upon the expiration of each portion of the recapture period and the satisfaction of other revenue recognition criteria. In the third quarter of 2014, we recognized the amount related to the fifth and final recapture period and recorded $1.8 million of the contribution received from the Phase I Counterparty. We also recorded $1.2 million of priority returns earned by the Phase I Counterparty during the third quarter of 2014. Of this amount, $1.0 million relates to priority returns from prior
	periods that were paid but were not expensed in the period in which they were earned.
	In aggregate, we recorded net income of $0.6 million to “Other income” in the consolidated statements of operations in connection with Phase I in the three and nine months ended September 30, 2014.
	Phase II
	In the second quarter of 2012, we closed a transaction with a counterparty (the “Phase II Counterparty”) related to the historic rehabilitation of an office building located at 801 Market Street in Philadelphia, Pennsylvania (the “Phase II Project”). The Phase II Project has two stages of development, Phase II(i) and Phase II(ii). The Phase II Counterparty contributed equity of $5.5 million to Phase II(i) through December 31, 2013 and $5.8 million to Phase II(ii) through September 30, 2014. In exchange for its contributions into the Phase II Project, the Phase II Counterparty received substantially all of the historic rehabilitation tax credits associated with the Phase II Project as a distribution. The Phase II Counterparty’s contributions, other than the amounts allocated to a put option (whereby we might be obligated or entitled to repurchase the Phase II Counterparty’s ownership interest in the Phase II Project), are classified as “Accrued expenses and other liabilities” and recognized as “Other income” in the consolidated financial statements as our obligation to deliver tax credits is relieved.
	The tax credits are subject to a five year credit recapture period, as defined in the Internal Revenue Code of 1986, as amended, beginning one year after the completion of the Phase II Project, of which Phase II(i) was completed in the second quarter of 2012, and Phase II(ii) was completed in the second quarter of 2013. Our obligation to the Phase II Counterparty with respect to the tax credits was ratably relieved annually in the third quarter of each year, upon the expiration of each portion of the recapture period and the satisfaction of other revenue recognition criteria. In the third quarter of 2014, we recognized $1.2 million related to the second recapture period of Phase II(i) and $1.0 million related to the first recapture period of Phase II(ii) of the contribution received from the Phase II Counterparty as “Other income” in the consolidated statements of operations. We also recorded $0.3 million of priority returns earned by the Phase II counterparty during the third quarter 2014. Of this amount, $0.1 million relates to priority returns from prior periods that were paid but were not expensed in the period in which they were earned.
	In aggregate, we recorded net income of $1.9 million to “Other income” in the consolidated statements of operations in connection with Phase II in the three and nine months ended September 30, 2014.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	BASIS OF PRESENTATION
	Nature of Operations
	Pennsylvania Real Estate Investment Trust (“PREIT” or the “Company”) prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the included disclosures are adequate to make the information presented not misleading. Our unaudited consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in PREIT’s Annual Report on Form 10-K for the year ended December 31, 2013. In our opinion, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly our consolidated financial position, the consolidated results of our operations, consolidated statements of other comprehensive income (loss), consolidated statements of equity and our consolidated statements of cash flows are included. The results of operations for the interim periods presented are not necessarily indicative of the results for the full year.
	PREIT, a Pennsylvania business trust founded in 1960 and one of the first equity real estate investment trusts (“REITs”) in the United States, has a primary investment focus on retail shopping malls located in the eastern half of the United States, primarily in the Mid-Atlantic region. As of September 30, 2014, our portfolio consisted of a total of 43 properties in 12 states, including 32 shopping malls, seven other retail properties and four development properties, with two of the development properties classified as “mixed use” (a combination of retail and other uses), one of the properties classified as “other retail” (outlet) and one of the development properties classified as “other.”
	We hold our interest in our portfolio of properties through our operating partnership, PREIT Associates, L.P. (“PREIT Associates” or the “Operating Partnership”). We are the sole general partner of the Operating Partnership and, as of September 30, 2014, we held a 97.0% controlling interest in the Operating Partnership, and consolidated it for reporting purposes. The presentation of consolidated financial statements does not itself imply that the assets of any consolidated entity (including any special-purpose entity formed for a particular project) are available to pay the liabilities of any other consolidated entity, or that the liabilities of any consolidated entity (including any special-purpose entity formed for a particular project) are obligations of any other consolidated entity.
	Pursuant to the terms of the partnership agreement of the Operating Partnership, each of the limited partners has the right to redeem such partner’s units of limited partnership interest in the Operating Partnership (“OP Units”) for cash or, at our election, we may acquire such OP Units in exchange for our common shares on a one-for-one basis, in some cases beginning one year following the respective issue dates of the OP Units and in other cases immediately. If all of the outstanding OP Units held by limited partners had been redeemed for cash as of September 30, 2014, the total amount that would have been distributed would have been $42.5 million, which is calculated using our September 30, 2014 closing price on the New York Stock Exchange of $19.94 per share multiplied by the number of outstanding OP Units held by limited partners, which was 2,129,202 as of September 30, 2014.
	We provide management, leasing and real estate development services through two companies: PREIT Services, LLC (“PREIT Services”), which generally develops and manages properties that we consolidate for financial reporting purposes, and PREIT-RUBIN, Inc. (“PRI”), which generally develops and manages properties that we do not consolidate for financial reporting purposes, including properties owned by partnerships in which we own an interest and properties that are owned by third parties in which we do not have an interest. PREIT Services and PRI are consolidated. PRI is a taxable REIT subsidiary, as defined by federal tax laws, which means that it is able to offer an expanded menu of services to tenants without jeopardizing our continuing qualification as a REIT under federal tax law.
	We evaluate operating results and allocate resources on a property-by-property basis, and do not distinguish or evaluate our consolidated operations on a geographic basis. Due to the nature of our operating properties, which involve retail shopping, we have concluded that our individual properties have similar economic characteristics and meet all other aggregation criteria. Accordingly, we have aggregated our individual properties into one reportable segment. In addition, no single tenant accounts for 10% or more of consolidated revenue, and none of our properties are located outside the United States.
	Fair Value
	Fair value accounting applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements. Fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, these accounting requirements establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).
	Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access.
	Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs might include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.
	Level 3 inputs are unobservable inputs for the asset or liability, and are typically based on an entity’s own assumptions, as there is little, if any, related market activity.
	In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. We utilize the fair value hierarchy in our accounting for derivatives (Level 2) and financial instruments (Level 2) and in our reviews for impairment of real estate assets (Level 3) and goodwill (Level 3).
	New Accounting Developments
	In May 2014, the Financial Accounting Standards Board issued “Revenue from Contracts with Customers.” The objective of this new standard is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of this new standard is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance is effective for annual reporting periods beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt this standard. We are currently evaluating the new guidance and have not determined the impact this standard may have on our financial statements nor have we decided upon the method of adoption.
	In April 2014, we adopted new accounting requirements pertaining to the reporting of discontinued operations. Under these new accounting requirements, only disposals representing a strategic shift in operations will be presented as discontinued operations. Previously, under U.S. GAAP, companies that sold a single investment property were generally required to report the sale as a discontinued operation, which required the companies to reclassify earnings from continuing operations for all periods presented. These new accounting requirements require expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations.
	In 2014, we sold South Mall in Allentown, Pennsylvania, Nittany Mall in State College, Pennsylvania and North Hanover Mall in Hanover, Pennsylvania. We applied these new accounting requirements by reporting the results of operations of these sold properties in the continuing operations section of our unaudited consolidated statements of operations.
	Correction of Prior Period Presentation
	Certain prior period amounts have been reclassified to conform with the current year presentation.
	Our previously reported results of operations for the three and nine months ended September 30, 2013 have been corrected to eliminate certain immaterial intercompany revenues and expenses. These immaterial corrections had no effect on net income (loss), basic or diluted earnings (loss) per share amounts, comprehensive income (loss), shareholders' equity or cash flows. The immaterial corrections reduced both other real estate revenue and other operating expenses by approximately $0.1 million and $0.4 million for the three and nine months ended September 30, 2013, respectively.
Nature of Operations	'
	Nature of Operations
	Pennsylvania Real Estate Investment Trust (“PREIT” or the “Company”) prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the included disclosures are adequate to make the information presented not misleading. Our unaudited consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in PREIT’s Annual Report on Form 10-K for the year ended December 31, 2013. In our opinion, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly our consolidated financial position, the consolidated results of our operations, consolidated statements of other comprehensive income (loss), consolidated statements of equity and our consolidated statements of cash flows are included. The results of operations for the interim periods presented are not necessarily indicative of the results for the full year.
	PREIT, a Pennsylvania business trust founded in 1960 and one of the first equity real estate investment trusts (“REITs”) in the United States, has a primary investment focus on retail shopping malls located in the eastern half of the United States, primarily in the Mid-Atlantic region. As of September 30, 2014, our portfolio consisted of a total of 43 properties in 12 states, including 32 shopping malls, seven other retail properties and four development properties, with two of the development properties classified as “mixed use” (a combination of retail and other uses), one of the properties classified as “other retail” (outlet) and one of the development properties classified as “other.”
	We hold our interest in our portfolio of properties through our operating partnership, PREIT Associates, L.P. (“PREIT Associates” or the “Operating Partnership”). We are the sole general partner of the Operating Partnership and, as of September 30, 2014, we held a 97.0% controlling interest in the Operating Partnership, and consolidated it for reporting purposes. The presentation of consolidated financial statements does not itself imply that the assets of any consolidated entity (including any special-purpose entity formed for a particular project) are available to pay the liabilities of any other consolidated entity, or that the liabilities of any consolidated entity (including any special-purpose entity formed for a particular project) are obligations of any other consolidated entity.
	Pursuant to the terms of the partnership agreement of the Operating Partnership, each of the limited partners has the right to redeem such partner’s units of limited partnership interest in the Operating Partnership (“OP Units”) for cash or, at our election, we may acquire such OP Units in exchange for our common shares on a one-for-one basis, in some cases beginning one year following the respective issue dates of the OP Units and in other cases immediately. If all of the outstanding OP Units held by limited partners had been redeemed for cash as of September 30, 2014, the total amount that would have been distributed would have been $42.5 million, which is calculated using our September 30, 2014 closing price on the New York Stock Exchange of $19.94 per share multiplied by the number of outstanding OP Units held by limited partners, which was 2,129,202 as of September 30, 2014.
	We provide management, leasing and real estate development services through two companies: PREIT Services, LLC (“PREIT Services”), which generally develops and manages properties that we consolidate for financial reporting purposes, and PREIT-RUBIN, Inc. (“PRI”), which generally develops and manages properties that we do not consolidate for financial reporting purposes, including properties owned by partnerships in which we own an interest and properties that are owned by third parties in which we do not have an interest. PREIT Services and PRI are consolidated. PRI is a taxable REIT subsidiary, as defined by federal tax laws, which means that it is able to offer an expanded menu of services to tenants without jeopardizing our continuing qualification as a REIT under federal tax law.
	We evaluate operating results and allocate resources on a property-by-property basis, and do not distinguish or evaluate our consolidated operations on a geographic basis. Due to the nature of our operating properties, which involve retail shopping, we have concluded that our individual properties have similar economic characteristics and meet all other aggregation criteria. Accordingly, we have aggregated our individual properties into one reportable segment. In addition, no single tenant accounts for 10% or more of consolidated revenue, and none of our properties are located outside the United States.
Fair Value	'
	Fair Value
	Fair value accounting applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements. Fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, these accounting requirements establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).
	Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access.
	Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs might include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.
	Level 3 inputs are unobservable inputs for the asset or liability, and are typically based on an entity’s own assumptions, as there is little, if any, related market activity.
	In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. We utilize the fair value hierarchy in our accounting for derivatives (Level 2) and financial instruments (Level 2) and in our reviews for impairment of real estate assets (Level 3) and goodwill (Level 3).
New Accounting Developments	'
	New Accounting Developments
	In May 2014, the Financial Accounting Standards Board issued “Revenue from Contracts with Customers.” The objective of this new standard is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of this new standard is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance is effective for annual reporting periods beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt this standard. We are currently evaluating the new guidance and have not determined the impact this standard may have on our financial statements nor have we decided upon the method of adoption.
	In April 2014, we adopted new accounting requirements pertaining to the reporting of discontinued operations. Under these new accounting requirements, only disposals representing a strategic shift in operations will be presented as discontinued operations. Previously, under U.S. GAAP, companies that sold a single investment property were generally required to report the sale as a discontinued operation, which required the companies to reclassify earnings from continuing operations for all periods presented. These new accounting requirements require expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations.
	In 2014, we sold South Mall in Allentown, Pennsylvania, Nittany Mall in State College, Pennsylvania and North Hanover Mall in Hanover, Pennsylvania. We applied these new accounting requirements by reporting the results of operations of these sold properties in the continuing operations section of our unaudited consolidated statements of operations.
Correction of Prior Period Presentation	'
	Correction of Prior Period Presentation
	Certain prior period amounts have been reclassified to conform with the current year presentation.
	Our previously reported results of operations for the three and nine months ended September 30, 2013 have been corrected to eliminate certain immaterial intercompany revenues and expenses. These immaterial corrections had no effect on net income (loss), basic or diluted earnings (loss) per share amounts, comprehensive income (loss), shareholders' equity or cash flows. The immaterial corrections reduced both other real estate revenue and other operating expenses by approximately $0.1 million and $0.4 million for the three and nine months ended September 30, 2013, respectively.

Real_Estate_Activities_Tables

Real Estate Activities (Tables)	9 Months Ended
	Sep. 30, 2014
Real Estate [Abstract]	'
Investments in Real Estate	'
	Investments in real estate as of September 30, 2014 and December 31, 2013 were comprised of the following:
	(in thousands of dollars)	As of September 30,				As of December 31,
		2014				2013
	Buildings, improvements and construction in progress	$	2,808,363			$	3,049,758
	Land, including land held for development	447,102				478,110
	Total investments in real estate	3,255,465				3,527,868
	Accumulated depreciation	(1,028,846		)		(1,012,746		)
	Net investments in real estate	$	2,226,619			$	2,515,122
Summary of Capitalized Salaries, Commissions and Benefits, Real Estate Taxes and Interest	'
	The following table summarizes our capitalized salaries, commissions and benefits, real estate taxes and interest for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
	(in thousands of dollars)	2014				2013				2014		2013
	Development/Redevelopment Activities:
	Salaries and benefits	$	201			$	272			$	1,026	$	585
	Real estate taxes	4				4				4		4
	Interest	201				331				494		620
	Leasing Activities:
	Salaries, commissions and benefits	1,394				1,180				4,223		3,902
Summary of Revenue and Expense Information for Discontinued Operations	'
	following table summarizes revenue and expense information for the three and nine months ended September 30, 2013 for these discontinued operations (there were no properties classified in discontinued operations in the three or nine months ended September 30, 2014):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
	(in thousands of dollars)		2013					2013
	Real estate revenue		$	2,491				$	9,379
	Expenses:
	Operating expenses		(1,109		)			(3,989		)
	Depreciation and amortization		(345		)			(1,074		)
	Interest expense		(494		)			(1,753		)
	Total expenses		(1,948		)			(6,816		)
	Operating results from discontinued operations		543					2,563
	Impairment of assets of discontinued operations		(23,662		)			(23,662		)
	Gains on sales of discontinued operations		45,097					78,351
	Income from discontinued operations		$	21,978				$	57,252

Investments_in_Partnerships_Ta

Investments in Partnerships (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Summary of Equity Investments	'
	Summarized balance sheet information as of September 30, 2014 and December 31, 2013 and summarized statement of operations information for the three and nine months ended September 30, 2014 and 2013 for this entity, which is accounted for using the equity method, is as follows:
			As of
	(in thousands of dollars)		September 30, 2014				December 31, 2013
	Summarized balance sheet information
	Total assets		$	53,168			$	55,592
	Mortgage loan payable		131,943				133,542
			Three Months Ended								Nine Months Ended
			September 30,								September 30,
	(in thousands of dollars)		2014				2013				2014				2013
	Summarized statement of operations information
	Revenue		$	9,037			$	8,818			$	27,133			$	26,042
	Property operating expenses		(2,297		)		(2,469		)		(7,516		)		(7,067		)
	Interest expense		(1,956		)		(1,987		)		(5,891		)		(5,982		)
	Net income		3,984				3,508				11,066				10,536
	PREIT's share of equity in income of partnership		1,992				1,754				5,533				5,268
	The following table presents summarized financial information of the equity investments in our unconsolidated partnerships as of September 30, 2014 and December 31, 2013:
	(in thousands of dollars)	As of September 30, 2014				As of December 31, 2013
	ASSETS:
	Investments in real estate, at cost:
	Operating properties	$	661,556			$	416,964
	Construction in progress	24,988				2,298
	Total investments in real estate	686,544				419,262
	Accumulated depreciation	(206,732		)		(169,369		)
	Net investments in real estate	479,812				249,893
	Cash and cash equivalents	15,360				15,327
	Deferred costs and other assets, net	38,506				19,474
	Total assets	533,678				284,694
	LIABILITIES AND PARTNERS’ INVESTMENT (DEFICIT):
	Mortgage loans payable	393,552				398,717
	Other liabilities	25,313				9,667
	Total liabilities	418,865				408,384
	Net investment (deficit)	114,813				(123,690		)
	Partners’ share	58,790				(66,325		)
	PREIT’s share	56,023				(57,365		)
	Excess investment (1)	8,819				8,837
	Net investments and advances	$	64,842			$	(48,528	)
	Investment in partnerships, at equity	$	129,202			$	15,963
	Distributions in excess of partnership investments	(64,360		)		(64,491		)
	Net investments and advances	$	64,842			$	(48,528	)
	_________________________
	(1)	Excess investment represents the unamortized difference between our investment and our share of the equity in the underlying net investment in the partnerships. The excess investment is amortized over the life of the properties, and the amortization is included in “Equity in income of partnerships.”
Summary of Share of Equity in Income of Partnerships	'
	The following table summarizes our share of equity in income of partnerships for the three and nine months ended September 30, 2014 and 2013:
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
	(in thousands of dollars)	2014				2013				2014				2013
	Real estate revenue	$	25,684			$	20,117			$	67,191			$	59,839
	Expenses:
	Operating expenses	(8,659		)		(6,001		)		(21,508		)		(17,672		)
	Interest expense	(5,483		)		(5,539		)		(16,410		)		(16,656		)
	Depreciation and amortization	(4,972		)		(3,695		)		(12,035		)		(10,801		)
	Total expenses	(19,114		)		(15,235		)		(49,953		)		(45,129		)
	Net income	6,570				4,882				17,238				14,710
	Less: Partners’ share	(3,283		)		(2,435		)		(8,614		)		(7,319		)
	PREIT’s share	3,287				2,447				8,624				7,391
	Amortization of excess investment	(81		)		(102		)		(232		)		(310		)
	Equity in income of partnerships	$	3,206			$	2,345			$	8,392			$	7,081

Financing_Activity_Tables

Financing Activity (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Long-term Debt Instruments [Table Text Block]	'
	Level	Ratio of Total Liabilities	5 Year Term Loan	7 Year Term Loan
		to Gross Asset Value	Applicable Margin	Applicable Margin
	1	Less than 0.450 to 1.00	1.35%	1.80%
	2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.45%	1.95%
	3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.60%	2.15%
	4	Equal to or greater than 0.550 to 1.00	1.90%	2.35%
Applicable Credit Spread Over Libor at Various Leverage Levels	'
	In determining PREIT’s leverage (the ratio of Total Liabilities to Gross Asset Value), the capitalization rate used to calculate Gross Asset Value is (a) 6.50% for each Property having an average sales per square foot of more than $500 for the most recent period of 12 consecutive months, and (b) 7.50% for any other Property.
	Level	Ratio of Total Liabilities to Gross Asset Value	Applicable Margin
	1	Less than 0.450 to 1.00	1.5	%
	2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.7	%
	3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.85	%
	4	Equal to or greater than 0.550 to 1.00	2.05	%
Carrying and Fair Values of Mortgage Loans	'
	The carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at September 30, 2014 and December 31, 2013 were as follows:
		30-Sep-14					31-Dec-13
	(in millions of dollars)	Carrying Value			Fair Value		Carrying Value		Fair Value
	Mortgage loans	$	1,414.10		$	1,405.70	$	1,502.70	$	1,467.90

Derivatives_Tables

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair Value of Derivative Instruments	'
	(in millions of dollars)		Fair Value at			Fair Value at			Interest			Maturity Date
	Notional Value		September 30,			December 31,			Rate
			2014 (1)			2013 (1)
	Interest Rate Swaps
	$25.00		$	(0.2	)	$	(0.3	)	1.1	%		July 31, 2016
	28.1		(0.4		)	(0.5		)	1.38	%		January 2, 2017
	34.2		0.2			0.2			3.72	%		December 1, 2017
	7.6		0.1			0.1			1	%		January 1, 2018
	55		0.2			0.2			1.12	%		January 1, 2018
	48		0.2			0.2			1.12	%		January 1, 2018
	30		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.78	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
	20		(0.2		)	N/A			1.79	%		January 2, 2019
			$	(1.1	)	$	(0.1	)
	_________________________
	(1)	As of September 30, 2014 and December 31, 2013, derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. As of September 30, 2014 and December 31, 2013, we did not have any significant recurring fair value measurements related to derivative instruments using significant unobservable inputs (Level 3).
Effect of Our Derivative Financial Instruments on Our Consolidated Statements of Operations	'
	The table below presents the effect of derivative financial instruments on our consolidated statements of operations and on our share of our partnerships’ statements of operations for the three and nine months ended September 30, 2014 and 2013:
			Three Months Ended						Nine Months Ended							Consolidated
			September 30,						September 30,							Statements of
																Operations
	(in millions of dollars)		2014			2013			2014				2013			Location
	Derivatives in cash flow hedging relationships:
	Interest rate products
	Gain (loss) recognized in Other Comprehensive Income (Loss) on derivatives		$	1.4		$	0.3		$	(0.7	)		$	7.9		N/A
	Loss reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion)		$	1		$	2		$	3.3			$	9		Interest expense
	Loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)		$	(0.1	)	$	(0.7	)	$	(1.4	)		$	(3.4	)	Interest expense

Basis_of_Presentation_Addition

Basis of Presentation - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
		Segment
		Property
		State
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	43	'
Number of states where the properties located	'	12	'
Interest in the Operating Partnership	'	97.00%	'
Amount available for distribution	'	$42.50	'
Closing share price	'	$19.94	'
Number of outstanding OP Units held by limited partners	'	2,129,202	'
Number of reportable segment	'	1	'
Percentage of consolidated revenue having no single tenant	'	10.00%	'
Prior Period Reclassification Adjustment	$0.10	'	$0.40
Shopping malls [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	32	'
Strip and power centers [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	7	'
Development properties [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	4	'
Mixed use development properties [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	2	'
Other Retail Development [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	1	'
Other development properties [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Number of properties	'	1	'

Real_Estate_Activities_Investm

Real Estate Activities - Investments in Real Estate (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate [Abstract]	'	'
Buildings, improvements and construction in progress	$2,808,363	$3,049,758
Land, including land held for development	447,102	478,110
Total investments in real estate	3,255,465	3,527,868
Accumulated depreciation	-1,028,846	-1,012,746
Net investments in real estate	$2,226,619	$2,515,122

Real_Estate_Activities_Summary

Real Estate Activities - Summary of Capitalized Salaries, Commissions and Benefits, Real Estate Taxes and Interest (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Salaries and benefits | Development/Redevelopment Activities [Member]	'	'	'	'
Real Estate Capitalized Costs [Line Items]	'	'	'	'
Real estate capitalized cost	$201	$272	$1,026	$585
Capitalized Real Estate Taxes [Member] | Development/Redevelopment Activities [Member]	'	'	'	'
Real Estate Capitalized Costs [Line Items]	'	'	'	'
Real estate capitalized cost	4	4	4	4
Interest | Development/Redevelopment Activities [Member]	'	'	'	'
Real Estate Capitalized Costs [Line Items]	'	'	'	'
Real estate capitalized cost	201	331	494	620
Salaries, commissions and benefits | Leasing Activities [Member]	'	'	'	'
Real Estate Capitalized Costs [Line Items]	'	'	'	'
Real estate capitalized cost	$1,394	$1,180	$4,223	$3,902

Real_Estate_Activities_Real_Es

Real Estate Activities Real Estate Activities - Impairment of Assets (Details) (USD $)	9 Months Ended		3 Months Ended		9 Months Ended	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2011
			Nittany Mall [Member]	Nittany Mall [Member]	Nittany Mall [Member]	South Mall [Member]	North Hanover Mall [Member]	North Hanover Mall [Member]	North Hanover Mall [Member]	North Hanover Mall [Member]	North Hanover Mall [Member]
Impairment Of Assets	'	'	$1,600,000	$13,900,000	$15,500,000	$1,300,000	$700,000	$2,200,000	$2,900,000	$6,300,000	$24,100,000
Impairment of assets and expensed project costs	$20,125,000	$30,416,000	'	'	'	'	'	'	'	'	'

Real_Estate_Activities_Real_Es1

Real Estate Activities Real Estate Activities - Acquisitions and Dispositions(Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended			1 Months Ended	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jul. 31, 2014	Sep. 30, 2014	Jun. 30, 2014
					North Hanover Mall and Nittany Mall Combined [Member]	North Hanover Mall [Member]	Nittany Mall [Member]	The Gallery at Market East [Member]	The Gallery at Market East [Member]	South Mall [Member]
Property, Plant and Equipment [Line Items]	'	'	'	'	'	'	'	'	'	'
Equity Method Investment, Ownership Percentage	'	'	'	'	'	'	'	'	50.00%	'
Real Estate Property Sales Price	'	'	'	'	$32,300,000	'	'	$106,800,000	'	$23,600,000
Repayments of Secured Debt	'	'	76,784,000	294,514,000	'	'	'	25,800,000	'	'
Repayment of Unsecured Debt	'	'	'	'	'	'	'	'	50,000,000	'
Gains (Losses) on Sales of Investment Real Estate	-513,000	0	-414,000	0	'	'	'	'	630,000	-200,000
Capitalization Rates	'	'	'	'	'	11.00%	16.20%	'	5.10%	10.10%
Proceeds from Sale of Real Estate	'	'	'	'	'	'	'	'	$104,000,000	'

Real_Estate_Activities_Summary1

Real Estate Activities - Summary of Revenue and Expense Information for Discontinued Operations (Detail) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Real Estate [Abstract]	'	'
Real estate revenue	$2,491	$9,379
Expenses:	'	'
Operating expenses	-1,109	-3,989
Depreciation and amortization	-345	-1,074
Interest expense	-494	-1,753
Total expenses	-1,948	-6,816
Operating results from discontinued operations	543	2,563
Disposal Group Including Discontinued Operation, Impairment of Assets	23,662	23,662
Gains on sales of discontinued operations	45,097	78,351
Income from discontinued operations	$21,978	$57,252

Real_Estate_Activities_Other_D

Real Estate Activities Other Dispositions (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
					South Mall [Member]
Real Estate Property Sales Price	'	'	'	'	$23,600,000
Lease termination revenue	644,000	336,000	898,000	567,000	'
Capitalization Rates	'	'	'	'	10.10%
Gains (Losses) on Sales of Investment Real Estate	$513,000	$0	$414,000	$0	$200,000

Investments_in_Partnerships_Su

Investments in Partnerships - Summary of Equity Investments (Detail) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'
Total assets	$533,678		'	$533,678		'	$284,694
Investments in real estate, at cost:	'		'	'		'	'
Operating properties	661,556		'	661,556		'	416,964
Construction in progress	24,988		'	24,988		'	2,298
Total investments in real estate	686,544		'	686,544		'	419,262
Accumulated depreciation	-206,732		'	-206,732		'	-169,369
Net investments in real estate	479,812		'	479,812		'	249,893
Cash and cash equivalents	15,360		'	15,360		'	15,327
Deferred costs and other assets, net	38,506		'	38,506		'	19,474
Total assets	533,678		'	533,678		'	284,694
LIABILITIES AND PARTNERS’ INVESTMENT (DEFICIT):	'		'	'		'	'
Mortgage loans payable	393,552		'	393,552		'	398,717
Other liabilities	25,313		'	25,313		'	9,667
Total liabilities	418,865		'	418,865		'	408,384
Net investment (deficit)	114,813		'	114,813		'	-123,690
Partners’ share	58,790		'	58,790		'	-66,325
PREIT’s share	56,023		'	56,023		'	-57,365
Excess investment	8,819	[1]	'	8,819	[1]	'	8,837	[1]
Net investments and advances	64,842		'	64,842		'	-48,528
Investment in partnerships, at equity	129,202		'	129,202		'	15,963
Distributions in excess of partnership investments	-64,360		'	-64,360		'	-64,491
Lehigh Valley Associates, LP [Member]	'		'	'		'	'
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'
Total assets	53,168		'	53,168		'	55,592
Equity Method Investment, Summarized Financial Information, Mortgages Payable	131,943		'	131,943		'	133,542
Equity Method Investment, Summarized Financial Information, Revenue	9,037		8,818	27,133		26,042	'
Equity Method Investment, Summarized Financial Information, Property Operating Expenses	-2,297		-2,469	-7,516		-7,067	'
Equity Method Investment, Summarized Financial Information, Interest Expense	-1,956		-1,987	-5,891		-5,982	'
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	3,984		3,508	11,066		10,536	'
Equity Method Investment, Summarized Financial Information, Share of Equity in Income of Partnership	1,992		1,754	5,533		5,268	'
Investments in real estate, at cost:	'		'	'		'	'
Total assets	$53,168		'	$53,168		'	$55,592
Lehigh Valley Associates, LP [Member]	'		'	'		'	'
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'
Equity Method Investment, Ownership Percentage	50.00%		'	50.00%		'	'
[1]	Excess investment represents the unamortized difference between our investment and our share of the equity in the underlying net investment in the partnerships. The excess investment is amortized over the life of the properties, and the amortization is included in “Equity in income of partnerships.”

Investments_in_Partnerships_Su1

Investments in Partnerships - Summary of Share of Equity in Income of Partnerships (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Real Estate Revenue Net Equity Method Investments	$25,684	$20,117	$67,191	$59,839	'
Total assets	533,678	'	533,678	'	284,694
Expenses:	'	'	'	'	'
Operating expenses	-8,659	-6,001	-21,508	-17,672	'
Interest expense	-5,483	-5,539	-16,410	-16,656	'
Depreciation and amortization	-4,972	-3,695	-12,035	-10,801	'
Total expenses	-19,114	-15,235	-49,953	-45,129	'
Net income	6,570	4,882	17,238	14,710	'
Less: Partners’ share	-3,283	-2,435	-8,614	-7,319	'
PREIT’s share	3,287	2,447	8,624	7,391	'
Amortization of excess investment	-81	-102	-232	-310	'
Equity in income of partnerships	3,206	2,345	8,392	7,081	'
Lehigh Valley Associates, LP [Member]	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Total assets	53,168	'	53,168	'	55,592
Equity Method Investment, Summarized Financial Information, Mortgages Payable	131,943	'	131,943	'	133,542
Equity Method Investment, Summarized Financial Information, Revenue	9,037	8,818	27,133	26,042	'
Equity Method Investment, Summarized Financial Information, Property Operating Expenses	-2,297	-2,469	-7,516	-7,067	'
Equity Method Investment, Summarized Financial Information, Interest Expense	-1,956	-1,987	-5,891	-5,982	'
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	3,984	3,508	11,066	10,536	'
Equity Method Investment, Summarized Financial Information, Share of Equity in Income of Partnership	$1,992	$1,754	$5,533	$5,268	'

Investments_in_Partnerships_Pa

Investments in Partnerships Partnership Acquisitions and Dispositions (Details) (Gloucester Premium Outlets [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2014
Gloucester Premium Outlets [Member]	'	'
Business Acquisition [Line Items]	'	'
Equity Method Investment, Ownership Percentage	'	25.00%
Partners' Capital Account, Contributions	$3.20	'

Investments_in_Partnerships_Su2

Investments in Partnerships Summary of Mortgage Loans Secured By Our Unconsolidated Properties (Details) (Gloucester Premium Outlets [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Debt Instrument [Line Items]	'
Debt Instrument, Basis Spread on Variable Rate	1.50%
Construction Loans [Member]	'
Debt Instrument [Line Items]	'
Construction Loan	90
Debt Instrument, Term	'4 years

Financing_Activity_Additional_

Financing Activity - Additional Information (Detail) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

3 Months Ended

1 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Jan. 08, 2014

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jul. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Apr. 30, 2013

Sep. 30, 2013

Apr. 16, 2013

Sep. 30, 2013

Apr. 30, 2013

Sep. 30, 2013

Apr. 16, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Apr. 17, 2013

Jan. 08, 2014

Jan. 08, 2014

Jan. 08, 2014

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Extension

2010 Term Loan [Member]

2010 Term Loan [Member]

Two Thousand Fourteen Term Loans [Member]

Two Thousand Fourteen Term Loans [Member]

Two Thousand Fourteen Term Loans [Member]

Two Thousand Fourteen Term Loans [Member]

Two Thousand Fourteen Term Loans [Member]

Two Thousand Fourteen Term Loans and Two Thousand Thirteen Revolving Facility [Member]

Two Thousand Fourteen Term Loans and Two Thousand Thirteen Revolving Facility [Member]

Two Thousand Fourteen Term Loans and Two Thousand Thirteen Revolving Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

2010 Credit Facility [Member]

2010 Credit Facility [Member]

2010 Credit Facility [Member]

Revolving Credit Facility [Member]

2010 Term Loan [Member]

2010 Term Loan [Member]

2010 Term Loan [Member]

Five Year Term Loan [Member]

Seven Year Term Loan [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and US Bank N [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Springfield Town Center [Member]

Ratio One [Member]

Ratio One [Member]

Ratio One [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

First Extension [Member]

Second Extension [Member]

2013 Revolving Credit Facility [Member]

2013 Revolving Credit Facility [Member]

Seven Year Term Loan [Member]

Five Year Term Loan [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and US Bank N [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

LIBOR [Member]

LIBOR [Member]

Seven Year Term Loan [Member]

Five Year Term Loan [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Revolving Credit Facility [Member]

Seven Year Term Loan [Member]

Five Year Term Loan [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving Facility Debt Used to Repay Mortgage Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

$50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unsecured Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000,000

30,000,000

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Face Amount

'

'

'

'

'

250,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000,000

150,000,000

'

'

'

'

'

'

Debt Instrument, Term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'7 years

'5 years

'

'

'

'

'

'

Senior Unsecured Credit Facility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

400,000,000

400,000,000

'

'

'

'

'

'

'

'

Amount outstanding

'

'

130,000,000

'

'

'

'

'

'

'

'

'

'

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

97,500,000

'

'

'

'

'

'

'

'

'

'

'

'

Unused portion of line of credit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

392,900,000

'

392,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense excluding non-cash amortization of finance costs

'

'

'

'

2,400,000

'

1,200,000

3,400,000

'

'

'

'

'

'

400,000

800,000

1,200,000

1,600,000

'

'

'

'

'

'

'

400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-cash amortization of deferred financing fees

'

'

'

'

'

'

100,000

200,000

'

'

'

'

'

'

400,000

400,000

1,100,000

800,000

'

'

'

'

'

'

'

800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Deferred Draw Period, Maximum

'

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving Credit Facility Extension Options Available

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding commitments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.15%

0.20%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average interest rate of Term Loan

'

'

'

3.93%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.50%

'

2.05%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stated Interest Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.70%

'

1.70%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capitalization Rate

'

'

'

'

'

'

'

'

6.50%

7.50%

'

'

'

'

'

'

'

'

6.50%

'

7.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.95%

1.45%

'

1.50%

1.80%

1.35%

Sales Per Square Foot

'

'

'

'

'

500

'

'

'

'

'

'

'

'

'

'

500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of unused portion of the 2013 Revolving Facility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.30%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.35%

0.20%

'

'

'

'

'

'

Maximum amount available under revolving facility through accordion option

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600,000,000

'

200,000,000

300,000,000

'

'

'

'

'

'

Line of Credit Facility, Accordion Option, Minimum Incremental Increase

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

'

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

5,000,000

'

'

'

'

'

'

Line of Credit Facility, Accordion Option, Minimum Increase

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25,000,000

'

25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25,000,000

25,000,000

'

'

'

'

'

'

Minimum tangible net worth

'

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net proceeds of equity issuances

'

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum secured indebtedness

'

'

'

'

'

'

'

'

'

'

'

0.6

0.625

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Investments in Persons other than Subsidiaries, Consolidated Affiliates and Unconsolidated Affiliates

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Mortgages in Favor of the Borrower or any other Subsidiary

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Aggregate Value of Investments to Gross Asset Value

'

'

'

'

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Investments in Consolidation Exempt Entities to Gross Asset Value

'

'

'

'

'

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Projects Under Development to Gross Asset Value

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate of Consolidation Exempt Entities and Projects to Gross Asset Value

'

'

'

'

'

'

'

'

'

'

35.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Minimum ratio of Adjusted EBITDA to Fixed Charges

'

'

'

'

'

'

'

'

'

'

'

'

1.5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unencumbered Debt Yield

'

'

'

'

'

'

'

'

'

'

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment Percentage of Gross Asset Value

'

'

'

'

'

'

'

'

'

'

1.75

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Ratio of Secured Indebtedness to Gross Asset Value

'

'

'

'

'

'

'

'

'

'

0.6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment Percentage of Gross Asset Value

'

'

'

'

'

2.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of distribution related to FFO

'

'

'

'

'

'

'

'

'

'

95.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

REIT Taxable Income distributions

'

'

'

'

'

'

'

'

'

'

110.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250,000,000

'

'

'

'

'

'

'

'

100,000,000

150,000,000

'

'

'

'

'

'

Repayment of outstanding amount under revolving facility

-130,000,000

182,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Number of Loan Entered During Period

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accelerated amortization of deferred financing fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000

900,000

'

'

'

800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Permanent repayments of 2010 Term Loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

84,500,000

97,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Minimum Percentage of Total Guarantors Required to be Guarantors Based on Gross Asset Value

'

'

'

'

'

'

'

'

'

'

95.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Unsecured Borrowing Amount Under Unencumbered Debt Yield Covenant

'

'

'

'

'

'

'

'

'

'

561,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Letters of Credit Outstanding, Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$7,100,000

'

$7,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$46,500,000

'

'

'

Letter of Credit, Initial Fee in Effect

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.15%

'

'

'

Line of Credit Facility, Prepayment Penalty, Next Twelve Months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

'

'

'

Line of Credit Facility, Prepayment Penalty, Year Two

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

Line of Credit Facility, Prepayment Penalty, Year Three

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

'

'

'

Debt Instrument, Interest Rate at Period End

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.60%

2.10%

'

'

'

'

'

'

'

'

'

'

Financing_Activity_Applicable_

Financing Activity - Applicable Credit Spread Over Libor at Various Leverage Levels (Detail) (London Interbank Offered Rate (LIBOR) [Member])

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and Capital One, NA [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Wells Fargo Bank, NA and US Bank N [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank , NA [Member]

Wells Fargo Bank , NA [Member]

Seven Year Term Loan [Member]

Ratio Four [Member]

Ratio Three [Member]

Ratio Two [Member]

Ratio One [Member]

Five Year Term Loan [Member]

Ratio Four [Member]

Ratio Three [Member]

Ratio Two [Member]

Ratio One [Member]

Ratio Four [Member]

Ratio Three [Member]

Ratio Two [Member]

Ratio One [Member]

Seven Year Term Loan [Member]

Seven Year Term Loan [Member]

Seven Year Term Loan [Member]

Seven Year Term Loan [Member]

Five Year Term Loan [Member]

Five Year Term Loan [Member]

Five Year Term Loan [Member]

Five Year Term Loan [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Schedule Of Maximum Leverage Ratio [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stated Interest Rate

1.95%

2.35%

2.15%

1.95%

1.80%

1.45%

1.90%

1.60%

1.45%

1.35%

2.05%

1.85%

1.70%

1.50%

Financing_Activity_Carrying_an

Financing Activity - Carrying and Fair Values of Mortgage Loans (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]	'	'
Mortgage loans, Carrying Value	$1,414,054,000	$1,502,650,000
Mortgage loans, Fair Value	$1,405,700,000	$1,467,900,000

Financing_Activity_Mortgage_Lo

Financing Activity - Mortgage Loan Activity (Detail) (USD $)	9 Months Ended		1 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jul. 31, 2014	Jul. 31, 2014
			The Gallery at Market East [Member]	Logan Valley Mall [Member]
Mortgage Loan Activity [Line Items]	'	'	'	'
Repayments of Secured Debt	$76,784,000	$294,514,000	$25,800,000	$51,000,000
Available Cash From Working Capital Used to Repay Mortgage Debt	'	'	'	$1,000,000

Financing_Activity_Mortgage_Lo1

Financing Activity - Mortgage Loan Activity (Parenthetical) (Detail) (Two Thousand Thirteen Revolving Credit Facility [Member], USD $)	1 Months Ended
In Millions, unless otherwise specified	Jul. 31, 2014
Two Thousand Thirteen Revolving Credit Facility [Member]	'
Mortgage Loan Activity [Line Items]	'
Proceeds from Sales of real estate assets used to pay unsecured debt	$50

Cash_Flow_Information_Addition

Cash Flow Information - Additional Information (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Jul. 29, 2014
			The Gallery at Market East [Member]
Other Significant Noncash Transactions [Line Items]	'	'	'
Cash paid for interest	$55.80	$73.10	'
Net of capitalized interest	0.5	0.6	'
Line of credit facilities gross borrowings	140	432.5	'
Line of credit facilities gross repayments	270	342.5	'
Noncash Transfer to Equity Method Investment	'	'	$106.90

Commitments_and_Contingencies_

Commitments and Contingencies Contractual Obligations (Details) (Projects Under Development [Member], USD $)	Sep. 30, 2014
In Millions, unless otherwise specified
Projects Under Development [Member]	'
Unaccrued Contractual And Other Commitments	$19.40

Commitments_and_Contingencies_1

Commitments and Contingencies Springfield Town Center (Details) (Springfield Town Center [Member], USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Mar. 02, 2014
Springfield Town Center [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Long-term Purchase Commitment, Amount	$465	'
Contribution Agreement Operating Partnership Shares Value	'	125
Letters of Credit Outstanding, Amount	46.5	'
Project Costs And Other Expenses	$2.30	'

Commitments_and_Contingencies_2

Commitments and Contingencies Employee Separation Expenses (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Jun. 30, 2014
					Non related party employees [Member]	Non related party employees [Member]	George F. Rubin [Member]	George F. Rubin [Member]
Employee Separation Expenses [Line Items]	'	'	'	'	'	'	'	'
Provision For Executive Separation Expenses	$85,000	'	$4,961,000	$2,314,000	$100,000	$900,000	'	$4,100,000
Executive Separation Payment	'	'	'	'	'	'	$2,600,000	'

Derivatives_Additional_Informa

Derivatives - Additional Information (Detail) (USD $)	3 Months Ended				3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
			Interest rate swaps [Member]	Interest Rate Swap Eleven [Member]	Interest Rate Swap Twelve [Member]	Settled Interest Rate Swaps [Member]
			Agreement
Derivative Instruments [Line Items]	'	'	'	'	'	'
Estimate increase to interest expense	$3.60	'	'	'	'	'
Number of derivative, interest rate swap agreement	'	'	12	'	'	'
Derivative, Weighted average interest rate	'	'	1.67%	'	'	'
Derivative, notional amount	'	'	327.9	'	'	'
Loss on Cash Flow Hedge Ineffectiveness	0.1	1.2	'	'	'	'
Derivative Liability, Notional Amount, Ineffective	'	'	'	40	'	'
Maturity Date	'	'	'	'	2-Jan-19	'
Net loss	'	'	'	'	2.7	'
Amortized period	'	'	'	'	'	'10 years
Fair value of derivatives in a net liability position	-1.1	'	'	'	'	'
Termination value	($1.40)	'	'	'	'	'

Derivatives_Fair_Value_of_Deri

Derivatives - Fair Value of Derivative Instruments (Detail) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

In Millions, unless otherwise specified

Interest Rate Swaps [Member]

Interest Rate Swaps [Member]

Interest Rate Swaps Two [Member]

Interest Rate Swaps Two [Member]

Interest Rate Swaps Three [Member]

Interest Rate Swaps Three [Member]

Interest Rate Swaps Four [Member]

Interest Rate Swaps Four [Member]

Interest Rate Swaps Five [Member]

Interest Rate Swaps Five [Member]

Interest Rate Swaps Six [Member]

Interest Rate Swaps Six [Member]

Interest Rate Swaps Nine [Member]

Interest Rate Swap Ten [Member]

Interest Rate Swap Eleven [Member]

Interest Rate Swap Twelve [Member]

Interest Rate Swap Seven [Member]

Interest Rate Swap Eight [Member]

Derivative Instruments, Gain (Loss) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

(in millions of dollars) Notional Value

'

'

$25

'

$28.10

'

$34.20

'

$7.60

'

$55

'

$48

'

$20

$20

$20

$20

$30

$20

Fair Value at period end

($1.10)

[1]

($0.10)

[1]

($0.20)

[1]

($0.30)

[1]

($0.40)

[1]

($0.50)

[1]

$0.20

[1]

$0.20

[1]

$0.10

[1]

$0.10

[1]

$0.20

[1]

($0.20)

$0.20

[1]

($0.20)

($0.20)

[1]

($0.20)

[1]

($0.20)

[1]

($0.20)

[1]

($0.20)

[1]

($0.20)

[1]

Interest Rate

'

'

1.10%

'

1.38%

'

3.72%

'

1.00%

'

1.12%

'

1.12%

'

1.78%

1.79%

1.79%

1.79%

1.78%

1.78%

Maturity Date

'

'

31-Jul-16

'

2-Jan-17

'

1-Dec-17

'

1-Jan-18

'

1-Jan-18

'

1-Jan-18

'

2-Jan-19

2-Jan-19

2-Jan-19

2-Jan-19

2-Jan-19

2-Jan-19

[1]

As of September 30, 2014 and December 31, 2013, derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. As of September 30, 2014 and December 31, 2013, we did not have any significant recurring fair value measurements related to derivative instruments using significant unobservable inputs (Level 3).

Derivatives_Effect_of_Our_Deri

Derivatives - Effect of Our Derivative Financial Instruments on Our Consolidated Statements of Operations (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivatives in cash flow hedging relationships:	'	'	'	'
Gain (loss) recognized in Other Comprehensive Income (Loss) on derivatives	$1.40	$0.30	($0.70)	$7.90
Interest	'	'	'	'
Derivatives in cash flow hedging relationships:	'	'	'	'
Loss reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion)	1	2	3.3	9
Loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)	($0.10)	($0.70)	($1.40)	($3.40)

Historic_Tax_Credits_Details

Historic Tax Credits (Details) (USD $)	9 Months Ended	12 Months Ended	37 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Phase I Counterparty [Member]	'	'	'
Counterparty [Line Items]	'	'	'
Priority Return Expense	$1.20	'	$1
Tax Credit Amortization Income	1.8	'	'
Interest and Other Income	0.6	'	'
Phase II Counterparty [Member]	'	'	'
Counterparty [Line Items]	'	'	'
Priority Return Expense	0.3	'	0.1
Interest and Other Income	1.9	'	'
Equity Contribution	5.8	5.5	'
Phase II(i) Counterparty [Member]	'	'	'
Counterparty [Line Items]	'	'	'
Tax Credit Amortization Income	1.2	'	'
Phase II(ii) Counterparty [Member]	'	'	'
Counterparty [Line Items]	'	'	'
Tax Credit Amortization Income	$1	'	'