Financing Activity (Tables)

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Applicable Credit Spread Over Libor at Various Leverage Levels

In determining PREIT’s leverage (the ratio of Total Liabilities to Gross Asset Value), the capitalization rate used to calculate Gross Asset Value is (a) 6.50% for each Property having an average sales per square foot of more than $500 for the most recent period of 12 consecutive months, and (b) 7.50% for any other Property.

Level	Ratio of Total Liabilities to Gross Asset Value	Applicable Margin
1	Less than 0.450 to 1.00	1.20	%
2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.25	%
3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.30	%
4	Equal to or greater than 0.550 to 1.00	1.55	%

Schedule of Credit Spread 2015 Term Loan [Table Text Block]

Level	Ratio of Total Liabilities to Gross Asset Value	2015 5-Year Term Loan Applicable Margin
1	Less than 0.450 to 1.00	1.35%
2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.45%
3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	1.60%
4	Equal to or greater than 0.550 to 1.00	1.90%

Schedule of Credit Spread 2014 Term Loans [Table Text Block]

Level	Ratio of Total Liabilities to Gross Asset Value	2014 7-Year Term Loan Applicable Margin	2014 5-Year Term Loan Applicable Margin
1	Less than 0.450 to 1.00	1.80%	1.35%
2	Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00	1.95%	1.45%
3	Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00	2.15%	1.60%
4	Equal to or greater than 0.550 to 1.00	2.35%	1.90%

Schedule of Long-term Debt Instruments [Table Text Block]

(in millions of dollars)	2014 7-Year Term Loan			2014 5-Year Term Loan			2015 5-Year Term Loan
Total facility	$	100.0		$	150.0		$	150.0
Amount outstanding	$	100.0		$	150.0		$	150.0
Interest rate	2.13		%	1.63		%	1.64		%
Maturity date	January 2021			January 2019			June 2020

Carrying and Fair Values of Mortgage Loans

The carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015				December 31, 2014
(in millions of dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Mortgage loans	$	1,360.8	$	1,358.5	$	1,407.9	$	1,415.5