PHILADELPHIA, Jul 27, 2021 / PRNewswire / – Real estate owner and developer PREIT (NYSE: PEI) is redefining the future of the mall in a mixed-use, community-centric neighborhood, and today Phoenix Theaters is offering a world-class movie lease. Announced it has signed. Return to Woodland Mall West Michigan Dolby Atmos’s First Theater® Sound. This is the first location for West Michigan for the Phoenix Theater, which plans to welcome movie fans in the second half of 2021. 21-year-old independent cinema company plans to invest $ 4 million to renovate its 14-screen cinema to create a new world-class movie experience. Grand Rapids range. The refurbishment plan includes a brand new premium heated seat. Digital 4K projection from Dolby Atmos, premiere films, family awards. The Phoenix Theater on Woodland Mall was the first major theater investment after the pandemic. West Michigan – And it’s one of the first in the country to showcase the strength of real estate and confidence in the local economy. This addition facilitates PREIT’s strategic commitment to redefine a portfolio with high barriers to entry by attracting innovative tenants and combining unique uses that serve the community. The Phoenix Theater offers a cheesecake factory and other world-class experiences at the BlackRock Bar & Grill, as well as Sephora, Rush, Williams Sonoma, and a pottery barn. By Maur, Urban Outfitters, Altar’d State, Apple. The property continues to attract new and exciting tenants and will also welcome tenants from Rue21 and the new portfolio. Rose & Remington: Known for its romantic and boho-chic style, Lovisa is offering affordable trendy jewelry this year. “We are excited that the Phoenix Theater is bringing the improved format of the film back to one of our greatest assets, the Woodland Mall.” Joseph F. Colladino, PREIT Chairman and Chief Executive Officer. “The successful home renovation continues to attract the first retail and hospitality offerings to the market including: Von Maur, From Urban Outfitters, and The Cheesecake Factory West Michigan. This addition underlines the strength of this property. The Phoenix Theater’s focus is on delivering a first class guest experience, which makes it a great way to expand your experience options in the Woodland Mall. Planned theater upgrades ensure that the facility remains a real destination for all film fans in the region. We look forward to welcoming all of these new tenants this year. “PREIT (NYSE: PEI) is a publicly traded real estate investment trust that owns and manages cutting edge real estate that shapes the consumer experience through a built environment. PREIT’s strong portfolio of carefully selected retail and lifestyle offers in combination with culinary and entertainment experiences in destinations is mainly found in densely populated markets with access barriers and creates lively multi-purpose destinations. There is a great opportunity to be created. For more information, see. www.preit.com Or on Twitter or LinkedIn. NS Michigan The based Phoenix Theater was founded in 2000 and has three Michigan theaters Wayne, Monroe and Livonia. There are two theaters outside of the state of Dubuque, Iowa. When Pittsfield, Massachusetts. “Believe”, “estimate”, “expect”, “plan”, “intend” and “can”. Contains a description of the future prospects for. .. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, expected events, trends and other matters that are not historical facts. These forward-looking statements reflect current expectations and assumptions about our business, our economy and other future events and circumstances and are currently available financial, economic and competitive data and current. It is based on the business plan. Actual results will relate to risks, uncertainties and our businesses, markets, services, prices and other factors as discussed in the Risk Factors section of other filings with the Securities and Exchange Commission. It can vary significantly due to changes in circumstances that can affect it. We believe our assumptions are reasonable, but it is very difficult to predict the effects of known factors and it is not possible to predict all factors that may affect actual results. Be careful not to place undue reliance on forward-looking statements as you can. Key factors that could cause actual results to differ materially from forward-looking statements include the ability to generate projected revenues and pro-formal leverage, and to generate free cash flow to further reduce debt. However, it is not limited to these. Ability to run our business in the face of the impact of the COVID-19 pandemic, weakening global economic and financial conditions, changes in government regulations and associated compliance and legal costs, and other factors listed in the SEC filing . .. In addition, changes in the retail and real estate industries, particularly mergers and closings between anchor tenants, can have a severe impact on our business. Current economic conditions, including the impact of the COVID-19 pandemic, actions by government agencies and other third parties to reduce its spread, and the associated impact on tenant performance, prospects, solvency and rental decisions. The rent cannot be collected due to bankruptcy or bankruptcy of the tenant. Our ability to maintain and increase occupancy, sales and rentals of properties. Increased operating costs that cannot be passed on to tenants. The impact of online shopping and the use of other technologies on retail tenants. Risks in connection with development and renovation activities, such as delays, cost overruns, expected occupancy or inaccessibility of the rent. Violence in shopping centers, including our property, or other similar spaces, and potential impact on transportation and sales. The possibility of selling the property for sale or getting the price you want. Our ability to maintain high debt, preferred stock clearing priorities, high leverage ratios and financial covenants based on our credit facilities The ability to refinance existing debt on favorable terms or at all when due. Our ability to raise capital, including selling real estate or equity interests in real estate, and issuing shares or equity related securities on favorable market conditions. Potential dilution from financing transactions or other stock issues. Other factors that could cause future events, results or results to differ materially from those expressed or implied in our forward-looking statements include “elements” in this document and the Annual Report on Form 10. 1A. Includes those listed in the “Risk Factors” section. K for the past year December 31, 2020. We do not intend to update or revise any forward-looking statements to reflect new information, future events, etc. EPP, strategy and communication
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