CONSENT AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT


As independent certified public accountants, we hereby consent to the
incorporation by reference of our report dated June 30, 1997, relating to the
financial statements of OXFORD VALLEY ROAD ASSOCIATES, which appear on Exhibit G
to the definitive Proxy Statement of the Pennsylvania Real Estate Investment
Trust (the "Trust") dated August 27, 1997 and incorporated by reference in this
Current Report on Form 8-K, into the Trust's previously filed Registration
Statements on Form S-3 (File No. 33-61115) and S-8 (File Nos. 33-59771, 33-59773
and 33-59767).


                                      /s/ Zelenkofske Axelrod and Co., Ltd.
                                      ------------------------------------------


Jenkintown, Pennsylvania
October 13, 1997