Weller joined PREIT in 1993 as president, COO and trustee and was promoted to vice chairman in 2004. Previously, he was EVP and a director of Eastdil Realty. Following his departure, as part of a restructuring at PREIT, his responsibilities will be assumed by the company's other executives, according to a statement by Ronald Rubin, chairman and CEO.
Among the REIT's transitions during Weller's 13-year tenure was its exit from the multifamily market to focus solely on the retail sector. "I am particularly proud of the strategic repositioning of the company … and the excellent complement of professionals and trustees with whom I had the honor to work," he says in a statement.
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