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PREIT (OTC:PRET) has announced its intention to release financial results for the quarter ending March 31, 2023, on May 4, 2023, before market trading begins. A conference call is scheduled for the same day at 11:00 a.m. Eastern Time to discuss these results and the future outlook. Investors can join the call or listen online via PREIT's website. The company has partnered with Say Technologies to address shareholder questions in advance of the earnings call. PREIT focuses on creating community-centric, innovative properties, and is committed to enhancing tenant success and community impact in various sectors, including retail, multi-family, and experiential services.
On March 22, 2023, PREIT (OTC:PRET) reported its financial results for the year ending December 31, 2022. Despite facing economic pressures, the company achieved a Core Mall Total Occupancy of 94.8%, with non-anchor occupancy increasing to 92.1%. January 2023 saw a rise in sales per square foot to $606, reflecting a 1.7% increase from December 2022. The company recorded a net loss of $41.5 million for Q4 2022, equating to $(7.81) per share, compared to a net loss of $34.5 million in Q4 2021. Notably, asset sales generated over $141 million in gross proceeds, contributing to a debt reduction of $184 million. The company focuses on future developments and leasing activity.
PREIT (OTC: PRET) announced the opening of its shareholder Q&A platform ahead of the fourth quarter earnings call scheduled for March 22, 2023, at 11:00 am ET. This initiative aims to enhance transparency and engagement with investors, allowing retail and institutional shareholders to submit and upvote questions. The Q&A platform will be accessible until March 17, 2023, at 9:00 pm ET. The earnings call will be webcasted live on PREIT's Investor Relations website, with a replay and transcript available afterward. PREIT focuses on community-centric properties in key market sectors, including retail and multi-family.
PREIT (OTC:PRET) has announced the release date for its financial results for the fourth quarter and full year ending December 31, 2022. The results will be disclosed before market trading begins on March 22, 2023. A conference call to discuss these results and the company's future outlook is scheduled for 11:00 a.m. ET on the same day. Investors can join through a dedicated phone line or the internet. Additionally, PREIT has partnered with Say Technologies to enhance communication with shareholders, enabling them to ask questions starting March 10, 2023.
PREIT has announced the sale of its Whole Foods parcel at Plymouth Meeting Mall for $27 million, part of its strategy to enhance liquidity and reduce debt. This transaction contributes to a total of $141 million in gross asset sales since the start of 2022, with $184 million paid down in debt as of December 31, 2022. CEO Joseph F. Coradino emphasized the company's focus on capital efficiency through its real estate portfolio. PREIT, trading under the symbol PRET, is a real estate investment trust committed to developing community-centric properties.
PREIT announced a new 30,000 square foot Burlington store at Springfield Town Center, boosting occupancy to a record 95.5% in 2023. Alongside the Burlington addition, the LEGO Discovery Center and other retailers are set to enhance the center's appeal. Fairfax County's Board of Supervisors has approved plans for 460 apartments and a 165-room hotel, furthering PREIT's vision of transforming the area into a family entertainment hub. The diversified tenant mix aims to attract a wide range of customers, supporting the mall's success.
On January 3, 2023, PREIT announced an extension of its mortgage loan for Woodland Mall, Grand Rapids, MI, maintaining the interest rate until June 10, 2023, with an option to extend until October 5, 2023. In 2022, PREIT generated $114 million from asset sales and reduced debt by $154 million, further solidifying its financial position. The company emphasizes its commitment to executing asset sales while managing debt effectively as it enters 2023.