$宾州REIT(PEI)$  PHILADELPHIA, April 19, 2021 – PREIT (NYSE: PEI), a leading operator of distinctive real estate in high barrier-to-entry markets, today provided an update on collections and activity and its improving liquidity position.

Collections
The Company reports continued sequential improvement in collection levels and recouping deferred rents from prior periods. During the first quarter of 2021, the Company received 119% of billed rents, compared to 112% and 99% in Q4 and Q3 2020, respectively.
Liquidity
Improvement in collections and operations, generally, have generated a significantly improved liquidity profile. Upon closing of our expanded credit facility, we put into place a $130 million revolving line of credit. Of that, we had drawn $55 million, leaving $75 million of availability. In returning to a positive cash flow profile with improved collections exceeding 100% of billed rents, we now have over $30 million of cash on hand, improving our current liquidity position to over $100 million.