Exhibit 21
PREIT's Subsidiaries
We conduct substantially all of our real estate ownership activities
through PREIT Associates, L.P., a Delaware limited partnership, of which we are
the sole general partner and 90.7% owner.
PREIT Associates and/or its affiliates own an interest in the following
partnerships:
Aggregate
Names of Partnership State of Organization Percentage Owned*
- -------------------- --------------------- ----------------
Bailey Associates PA 50%
Cambridge Apartments PA 50
Countrywood Apartments Limited Partnership FL 50
Eagles Nest Associates FL 100
Forestville Plaza Shopping Center Limited Partnership MD 100
Fox Run Apartments PA 50
Fox Run Del Associates DE 100
GP Stones Limited Partnership FL 100
Mall Corners Ltd. GA 19
Mall Corner II, Ltd. GA 11
Jacksonville Associates FL 100
Laurel Mall Associates PA 40
Lehigh Valley Associates PA 50
MC Associates FL 100
New Regency Hilltop Associates VA 65
Oxford Valley Road Associates PA 50
Palmer Park Mall Venture PA 50
PR Shenandoah Limited Partnership FL 100
PR 8000 Airport Highway, L.P. PA 100
PR 8000 National Highway, L.P. PA 100
Regency Associates NE 50
Rio Grande Venture PA 60
ALRO Associates, L.P. DE 50
PR Fox Run, L.P. PA 100
PR Laurel Mall, L.P. PA 100
PR Palmer Park, L.P. PA 100
PR Rio Mall Limited Partnership PA 100
PR Springfield Associates, L.P. PA 100
PR Warrington, L.P. PA 100
PR Will-O-Hill, L.P. PA 100
Will-O-Hill Apartments PA 50
PRGL Paxton Limited Partnership PA 100
PRDB Springfield Limited Partnership PA 50
The Woods Associates PA 100
PR Festival Limited Partnership PA 100
Roosevelt II Associates, L.P. PA 89-Capital Interest
99-Profits Interest
PR Northeast Limited Partnership PA 100
Roosevelt Associates, L.P. PA 89-Capital Interest
99-Profits Interest
PR Titus Limited Partnership PA 100
PR Eagles Nest L.P. DE 100
Red Rose Commons Associates, L.P. PA 50
PR Palmer Park, L.P. PA 100
Tupelo Mall AL 50(1)
VLRC Associates GA 87.5(1)
* By PREIT Associates, we own approximately 90.7% of PREIT Associates.
(1) By us, not PREIT Associates.
We own 100% of the shares of the following corporations:
Names of Subsidiaries State of Organization
- --------------------- ---------------------
Berdel, Inc. DE
Berfla, Inc. FL
Burren, Inc. FL
PR West Palm Inc. FL
PR VA Regency Inc. VA
PR Forestville Inc. MD
PREIT Associates is the sole beneficiary of the following business
trusts:
Name of Trust State of Organization
- ------------- ---------------------
PR Fox Run Trust PA
PR Laurel Mall Trust PA
PR Metroplex Trust PA
PR Northeast Trust PA
PR Oxford Valley Trust PA
PR Palmer Park Trust PA
PR Red Rose Trust PA
PR Springfield Trust PA
PR Warrington Trust PA
PR Will-O-Hill Trust PA
Trust #7000 IL
PREIT Associates has a member interest in the following limited
liability companies:
State of Organization Percentage Owned
--------------------- -----------------
Subsidiary LLC
PR Christiana LLC DE 100
PR Cobblestone LLC DE 100
PR Concord LLC DE 100
PR Countrywood LLC DE 100
PR Forestville LLC DE 100
PR Interstate Container LLC DE 100
PR Magnolia LLC DE 100
PR Mandarin Conners LLC DE 100
PR North Dartmouth Mall LLC DE 100
PR Regency Associates LLC DE 100
PR Rio Mall LLC DE 100
PR South Blanding LLC DE 100
PR 8000 Airport Highway LLC DE 100
PR 8000 National Highway LLC DE 100
PR Paxton LLC PA 100
PRDB Springfield LLC PA 50
PR Woods LLC PA 100
PR Festival LLC PA 100
PR Northeast LLC PA 100
PR Warrington LLC PA 100
PR Titus LLC PA 100
PR Berfla LLC DE 100
PR PGPlaza LLC DE 100
PR Fox Run Del LLC DE 100
PR Berdel LLC DE 100
PR Foulk Plaza LLC DE 100
PR Will-O-Hill LLC PA 100
CD Development LLC DE 100
PR Prince George's Plaza LLC DE 100
PR Pembroke LLC DE 100
PR Pembroke Manager LLC DE 100
PR Red Rose LLC PA 100
PR Metroplex East LLC PA 100
PR Metroplex West LLC PA 100
PR Kenwood Gardens LLC DE 100
PR Kenwood Gardens Manager LLC DE 100
PR Marylander LLC DE 100
PR Marylander Manager LLC DE 100
PR Hidden Lakes LLC DE 100
PR Hidden Lakes Manager LLC DE 100
PR Boca Palms LLC DE 100
PR Boca Palms Manager LLC DE 100
PR Florence LLC SC 100
PREIT Associates owns all of the non-voting shares of PREIT-RUBIN,
Inc., a Pennsylvania corporation, representing 95% of PREIT-RUBIN's equity.
PREIT-RUBIN owns all of the shares of The Rubin Organization-Illinois, Inc., an
Illinois corporation.