CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
INVESTMENTS IN REAL ESTATE, at cost:
Operating properties	$ 3,058,422	$ 3,063,531
Construction in progress	119,873	115,182
Land held for development	5,881	5,881
Total investments in real estate	3,184,176	3,184,594
Accumulated depreciation	(1,148,794)	(1,118,582)
Net investments in real estate	2,035,382	2,066,012
INVESTMENTS IN PARTNERSHIPS, at equity:	149,795	131,124
OTHER ASSETS:
Cash and cash equivalents	10,416	18,084
Tenant and other receivables, net	35,344	38,914
Intangible assets (net of accumulated amortization of $16,391 and $15,543 at March 31, 2019 and December 31, 2018, respectively)	17,020	17,868
Deferred costs and other assets, net	107,239	110,805
Assets held for sale	35,275	22,307
Total assets	2,390,471	2,405,114
LIABILITIES:
Mortgage loans payable, net	985,763	1,047,906
Term Loans, net	547,478	547,289
Revolving Facilities	162,000	65,000
Tenants’ deposits and deferred rent	10,261	15,400
Distributions in excess of partnership investments	91,227	92,057
Fair value of derivative liabilities	6,364	3,010
Accrued expenses and other liabilities	85,431	87,901
Total liabilities	1,888,524	1,858,563
COMMITMENTS AND CONTINGENCIES (Note 6):
EQUITY:
Shares of beneficial interest, $1.00 par value per share; 200,000 shares authorized; 77,383 shares issued and outstanding at March 31, 2019 and 70,495 shares issued and outstanding at December 31, 2018	77,383	70,495
Capital contributed in excess of par	1,761,736	1,671,042
Accumulated other comprehensive (loss) income	(533)	5,408
Distributions in excess of net income	(1,342,626)	(1,306,318)
Total equity—Pennsylvania Real Estate Investment Trust	496,114	440,781
Noncontrolling interest	5,833	105,770
Total equity	501,947	546,551
Total liabilities and equity	2,390,471	2,405,114
Series B Preferred Shares, $.01 par value per share; 25,000 shares authorized; 3,450 shares issued and outstanding at March 31, 2019 and December 31, 2018; liquidation preference of $86,250
EQUITY:
Preferred Shares	35	35
Series C Preferred Shares, $.01 par value per share; 25,000 shares authorized; 6,900 shares issued and outstanding at March 31, 2019 and December 31, 2018; liquidation preference of $172,500
EQUITY:
Preferred Shares	69	69
Series D Preferred Shares, $.01 par value per share; 25,000 shares authorized; 5,000 shares issued and outstanding at March 31, 2019 and December 31, 2018; liquidation preference of $125,000
EQUITY:
Preferred Shares	$ 50	$ 50