| Commercial Real Estate|
| Michael A. Barletta, President & CEO|
Hotels, restaurants, office, retail
Crown American is a privately held American company that manages and develops commercial real estate. The corporate headquarters is in downtown Johnstown, Pennsylvania, in a building designed by architect Michael Graves.
Crown American Wikipedia
The company was founded in 1950 as Crown Construction. Frank J. Pasquerilla, who joined less than a year later, became president in 1956 and sole owner in 1961. The company's name was changed to Crown American in 1972 and in 1979 it acquired the Hess's department store chain.
In 1993, the company split into two entities. The shopping mall portion of the company became a publicly held real estate investment trust, Crown American Realty Trust, and Crown American Hotels controlled the company's hospitality businesses. At its peak, Crown American operated 30 shopping malls, the Hess's department store chain (with 73 locations), and 20 hotels and motels.
In 2003 the shopping mall development and management unit, Crown American Realty Trust, was sold to Pennsylvania Real Estate Investment Trust. The hospitality unit, Crown American Hotels, was retained. In 2005, 22 of the company's 26 hotels were acquired by W2001 Eastern Hotel Realty, an affiliate of the Archon Group, which assumed responsibility for their management.
Frank Pasquerilla died from a stroke in 1999. His son, Mark E. Pasquerilla, serves as chairman of Crown American Hotels. Mark Pasquerilla joined the company in 1981 and was named president in 1990. He is a graduate of the University of Notre Dame, completed a master of science degree in international relations at the London School of Economics, and studied international affairs at the University of Cologne. Michael Barletta is president and chief executive officer.
At Crown American's peak in 1993, they owned 30 shopping malls. When they merged with PREIT in 2003, they owned 26 malls.
Companies Who Own Crown American Malls as of May 2016PREIT - 9 Malls (Owned 26 Malls at the 2003 Merger)
Mason Asset Management/Namdar Realty Group - 6 Malls
City View Capital/CityView Commercial LLC - 2 Malls
Farallon Capital Management - 2 Malls
Kohan Retail Investment Group - 2 Malls
Unknown/No Published Information - 1 Malls
Closed and abandoned - 1 Mall
Empire Reality Investments - 1 Mall
Giant Food Stores - 1 Mall
Hull Storey Gibson - 1 Mall
JSMN International Inc. - 1 Mall
M&R Investors - 1 Mall
Nicholas Park Mall, LLC - 1 Mall
Paramount Developers - 1 Mall
Shane Morrison Companies - 1 Mall