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Crown American Realty Trust, based in Johnstown, is a real estate investment company that owns, acquires, manages and develops shopping malls. It is the managing general partner of Crown American Properties LP. Together, with other partnerships, the company owns and manages 26 enclosed shopping malls in the eastern United States, including the Franklin Mall in Washington, Pa., and the Uniontown Mall, Uniontown.
Last year, the company earned $1.9 million on revenue of $130.9 million compared to earnings of $5.8 million on revenue of nearly $134 million in 1996.
During 1997, the company recorded $2.3 million in extraordinary losses on the early …