Exhibit 23.1

                          INDEPENDENT AUDITORS' CONSENT


The Board of Trustees
Pennsylvania Real Estate Investment Trust:

         We consent to the incorporation by reference in the registration
statements (File No. 33-61115, File No. 333-48917, File No. 333-70157, as
amended, File No. 333-74693, File No. 333-74695, File No. 333-74697, File No.
333-36626, File No. 333-97337 and File No. 333-97985) on Form S-3 and (File No.
33-59771, File No. 33-59773, File No. 33-59767, File No. 333-69877, File No.
333-97677 and File No. 333-103116) on Form S-8 of Pennsylvania Real Estate
Investment Trust of our report dated March 27, 2003, except as to note 16, which
is as of June 27, 2003, with respect to the consolidated balance sheets of
Pennsylvania Real Estate Investment Trust and subsidiaries as of December 31,
2002 and 2001, and the related consolidated statements of income, shareholders'
equity and comprehensive income, and cash flows for each of the years in the
three-year period ended December 31, 2002, and the related financial statement
schedules, which report appears in the June 27, 2003 Current Report on Form 8-K
of Pennsylvania Real Estate Investment Trust. Our report also indicates that
effective January 1, 2002, the Company adopted Statement of Financial Accounting
Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived
Assets and Statement of Financial Accounting Standards No. 142, Goodwill and
Other Intangible Assets.

                                                   /s/ KPMG LLP
                                                   ------------


Philadelphia, Pennsylvania
August 8, 2003