-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 mrM0YFG8z/gONjf0mjiMxA==

<SEC-DOCUMENT>0000950116-05-000684.txt : 20050217
<SEC-HEADER>0000950116-05-000684.hdr.sgml : 20050217
<ACCEPTANCE-DATETIME>20050217185339
ACCESSION NUMBER:		0000950116-05-000684
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050215
FILED AS OF DATE:		20050217
DATE AS OF CHANGE:		20050217

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
		CENTRAL INDEX KEY:			0000077281
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				236216339
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		THE BELLEVUE
		STREET 2:		200 S BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19102
		BUSINESS PHONE:		2155429250

	MAIL ADDRESS:	
		STREET 1:		THE BELLEVUE
		STREET 2:		200 S BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GOLDMAN BRUCE
		CENTRAL INDEX KEY:			0001203111

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06300
		FILM NUMBER:		05625338

	MAIL ADDRESS:	
		STREET 1:		C/O PENN. REAL ESTATE INVESTMENT TRUST
		STREET 2:		200 S. BROAD ST., THE BELLEVUE
		CITY:			PHILADEPHIA
		STATE:			PA
		ZIP:			19102
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p404851_ex.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-02-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000077281</issuerCik>
        <issuerName>PENNSYLVANIA REAL ESTATE INVESTMENT TRUST</issuerName>
        <issuerTradingSymbol>PEI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203111</rptOwnerCik>
            <rptOwnerName>GOLDMAN BRUCE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PENN. REAL ESTATE INVESTMENT TRUST</rptOwnerStreet1>
            <rptOwnerStreet2>THE BELLEVUE, 200 S. BROAD ST.</rptOwnerStreet2>
            <rptOwnerCity>PHILADELPHIA</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP-General Counsel</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Shares of Beneficial Interest, par value $1.00 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2005-02-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>960</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>42.08</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15700</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Shares of Beneficial Interest, par value $1.00 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2005-02-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6371</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22071</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes 41 shares purchased in each of March, September and December 2004 and 38 shares purchased in June 2004 under an
 Employee Share Purchase Plan.</footnote>
        <footnote id="F2">Grant of restricted shares for no consideration.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Bruce Goldman</signatureName>
        <signatureDate>2005-02-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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