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Pennsylvania Real Estate Investment Trust will pick up 30 shopping malls with its planned $1.1 billion acquisition of Crown American Realty Trust, announced on May 14. Philadelphia-based PREIT currently owns more than 20 shopping centers and about 20 apartment complexes. It will pay $322 million in stock for Johnstown, Pennsylvania-based Crown, and assume $619 million of the target’s mortgage debt. Both companies’ shareholders must approve the deal, which is expected to close in the fourth quarter. For acquiror Pennsylvania Real Estate Investment Trust (Philadelphia) In-house: General counsel Bruce Goldman, vice president Lawrence Trachtman, and senior counsel Lisa Most. Hogan & Hartson (Washington, D.C.): Corporate/securities: Stuart Barr, J. Warren Gorrell, Jr., David Slotkin, and associates Olesya Barsukova-Spandau, Nathan Saunders, Kerri Sikorski, and Miyun Sung. Tax: Prentiss Feagles, Shawna Tunnell, and associate Adam Feuerstein. Drinker Biddle & Reath (Philadelphia): Corporate: Howard Blum, Robert Juelke, and associates David Coleman, Danthu Phan, and Derek Squire. Real estate: John Fischer, Rush Haines II, and associates Bryan Megary and Lisa Sher. Employee benefits/tax: Gary Ammon, Stephen Hamilton, and associates Meredith Conway and Christine Kong. (Fischer and Megary are in the firm’s Berwyn, Pennsylvania, office.) Blum brought PREIT along as a client when he joined Drinker in 1995 from the now-defunct Cohen, Shapiro firm, whose name partner Sylvan Cohen founded PREIT. For target Crown American Realty Trust (Johnstown, Pennsylvania) In-house: General counsel Ronald Rusinak, senior staff attorney Christopher Sheridan, staff attorney Robert Lang, and attorney John Nelson. Reed Smith (Pittsburgh): Corporate: David DeNinno, Arlie Nogay, and associates Leslie Britton, Christie Brown, Christi Davis, Michael Johnson, and Lee van Egmond. Tax: counsel Scott Reid and associate Shannan Stewart. Securities: Robert Morris and associate Hannah Thompson. Employee benefits: Jeffrey Aromatorio, Robert Cottington, and Cher Wyncoop. Environmental: Robert Frank and associate Robert Sipps. Real estate: associate Stacey Palmer. (Frank and Sipps are in the firm’s Philadelphia office.) Reed Smith has represented Crown American since 1985. Sullivan & Cromwell (New York): Gary Israel and Joseph Shenker. Crown American has used Sullivan since 1991. The firm also represents Crown American’s controlling shareholder, Crown Investments Trust, which is wholly owned by Mark Pasquerilla, Crown American’s chairman and CEO, and his sister. For the Committee of Independent Trustees Spitzer & Feldman (New York): M. James Spitzer, Jr., and associate William Rosenstadt.

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