Pearl Vision Centers

PREIT Amends, Extends Credit Facility

The amendment increases the revolving portion of the facility by $100 million, reduces the current applicable interest rate by 90 basis points, extends the term of the facility by one year to March 10, 2014 and eliminates the mandatory facility pay-down requirements from capital events, among other changes. The amendment also modifies some of the financial covenants under the facility, reducing the maximum permitted leverage and increasing the minimum corporate debt yield.

Modifications to the financial covenants under the Facility reduce the maximum permitted leverage ratio to 70 percent from 75 percent, and require the corporate debt yield, as defined, to be at least 9.50 percent until March 30, 2012, then at least 9.75 percent for the next year, and at least 10.00 percent after March 31, 2013. The maximum amount that may be borrowed under the facility now is subject to a minimum debt yield of 9.75 percent based on the net operating income of the collateral properties.

The range of interest rates may be further reduced at the option of the company to between 2.00 percent and 3.00 percent per annum over LIBOR, and the company will have an option to extend the maturity date of the facility by one year to March 10, 2015, under specified conditions and subject to certain amendments to the financial covenants set forth in the facility.

The company also announced the refinancing of the mortgage loans on Red Rose Commons , in Lancaster, Pa., and The Court at Oxford Valley , in Langhorne, Pa., two power center properties in which it holds 50 percent partnership interests. The 10-year mortgage loans are non-recourse with an average fixed rate of 5.42 percent. The total proceeds from both loans were approximately $90 million, of which PREIT’s share was approximately $45 million. The partnerships used a portion of the proceeds to repay previous mortgage loans on these properties of approximately $56 million that carried an average interest rate of 7.16 percent.

The Woodlands includes over 28,000 acres with over 97,000 residents and 1,700 employers. At March 31, 2011 The Woodlands had approximately 1,372 acres of unsold residential land, representing approximately 4,532 lots, and approximately 936 acres of unsold land for commercial use. The Woodlands also has full or partial ownership interests in commercial properties totaling approximately 434,328 square feet of office space, 203,282 square feet of retail and service space, 865 rental apartment units, and also owns and operates a 440 room conference center facility and a 36-hole country club.

Pearle Vision Application Online - Print Job Application Form

Pearle Vision Center Application Online – Printable Job Employment Form

Apply for Jobs at Pearle Vision Online

Application for Pearle Vision: Pearle Vision does not provide a printable job application. If you want to get a job at Pearle Vision, you must apply for employment on the website by following the link above. Full-time or part-time positions may vary depending on the location.

Interview Tips: Go to the Pearle Vision job interview questions & tips page.

Positions Available: Receptionist, Sales Associate, Licensed Optician, Process Technician, Process Improvement Manager, Anti Reflective Maintenance Technician, Project Manager, Assistant Manager, Store Manager, Product Coordinator, Design Manager, Technical Maintenance Manager, Brand Manager, Trade Marketing Manager, Technical Support Supervisor, Call Center Analyst, Customer Relations Specialist, Instructional Designer, Human Resources Coordinator, Quality Eyewear Technician, Quality Specialist, Operations Analyst, Inspector, Distribution Center Associate, Facilities Service Technician, Territory Sales Consultant, Payroll Specialist, Outside Sales Consultant, Compensation and Benefits Director

Minimal Age (How old do you have to be to work at Pearle Vision?): 18 years old

Hours of Operation: Mon-Fri: 9:00am-8:00pm; Sat: 9:00am-5:00pm; Sun: 12:00pm-5:00pm

More Information: Pearle Vision Job Info

History / Background Information:

The Pearle Vision application will focus your job search, allowing you to clearly see what’s waiting for you in the optical retail industry.

Pearle Vision is a longtime leader in the sale of contact lenses, eyewear, and sunglasses. Their vision centers also give eyesight examinations. Dr. Stanley Pearle opened the first Pearle Vision Center in 1961 in the state of Georgia. Dr. Pearle was the first person to operate a national chain of vision stores. The company has both freestanding stores and locations in shopping malls. Pearle Vision was also the first company to nationally advertise the need to obtain eye examinations.

Today, there are over 800 Pearle Vision franchises operating in the United States alone. Because the company was founded by a doctor, it prides itself on taking care of its customers. Stores will work with patrons and insurance to provide the best service and products possible. Pearle Vision also participates in a donation program for those who outgrow their eyewear, allowing customers to donate glasses to the underprivileged who may not be able to afford eyewear.

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