An unknown buyer executed a purchase and sale agreement Cumberland Mall Associates LLC from Pennsylvania Real Estate Investment Trust (NYSE:PEI) in September 2022. Philadelphia real estate investment trust use the proceeds from the sale to pay off its $39 million mortgage on the Vineland mall. The proceeds of which were used to pay down debt.

Kohan Retail Investment Group completed the acquisition of Cumberland Mall Associates LLC from Pennsylvania Real Estate Investment Trust (NYSE:PEI) for $44.6 million on October 31, 2022. The proceeds of which were used to pay the mortgage balance of $39.1 million.