NEW YORK CITY—"To a certain extent, we feel as if this is our first New York ICSC ever," Joe Coradino, CEO of PREIT, during what was in fact the latest in a series of ICSC New York National Deal Making conferences for the Philadelphia-based mall REIT. Although Coradino quickly added that the REIT—among the nation's first publicly held real estate trusts—has participated in the conference for many years, he continued, "we come here a different company." Over the past year, he has frequently spoken of "the new PREIT."
GlobeSt.com caught up with Coradino at a busy New York conference earlier this month, where he provided a look behind the scenes at the company's transformation. He discussed:
• PREIT's evolution into a high-quality mall REIT;
• What constitutes a high-quality mall;
• The secrets of a successful mall today in view of some of the sector's challenges a few years ago;
• What's in store for 2016
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
