<ARTICLE> 5
<CIK> 0000077281
<NAME> PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
<CURRENCY> DOLLARS
       
                             
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               DEC-31-1997
<EXCHANGE-RATE>                                      1
<CASH>                                       1,324,000
<SECURITIES>                                         0
<RECEIVABLES>                               32,626,000
<ALLOWANCES>                                 1,770,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     286,557,000
<DEPRECIATION>                              53,171,000
<TOTAL-ASSETS>                             265,566,000
<CURRENT-LIABILITIES>                       23,097,000
<BONDS>                                    103,939,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    13,289,000
<OTHER-SE>                                 125,241,000
<TOTAL-LIABILITY-AND-EQUITY>               265,566,000
<SALES>                                     17,170,000
<TOTAL-REVENUES>                            21,229,000
<CGS>                                                0
<TOTAL-COSTS>                               10,618,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,349,000
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          6,262,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                300,000
<CHANGES>                                            0
<NET-INCOME>                                         0
<EPS-PRIMARY>                                      .66
<EPS-DILUTED>                                      .66