Exhibit 23

                        CONSENT OF INDEPENDENT AUDITORS

         We consent to the incorporation by reference in the Registration
Statements of Pennsylvania Real Estate Investment Trust on Form S-3 (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) and Form S-8 (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) of our reports dated April 29, 2003, relating to our audits of the
combined statements of revenues and certain expenses of the Subject Properties -
First Close and the Subject Properties - Second Close for the year ended
December 31, 2002 and the statements of revenues and certain expenses of Cherry
Hill Mall for the years ended December 31, 2002, 2001 and 2000, which reports
are included in the Form 8-K/A No. 2 of Pennsylvania Real Estate Investment
Trust dated April 28, 2003 (filed on September 26, 2003). Our reports include a
paragraph that states that the statements were prepared for the purpose of
complying with the rules and regulations of the Securities and Exchange
Commission, as described in note 2, and are not intended to be a complete
presentation of the revenues and expenses of the Subject Properties - First
Close, the Subject Properties - Second Close and Cherry Hill Mall.



                                                          /s/ KPMG LLP


Baltimore, Maryland
September 26, 2003