In late August, the Providence Place Mall was acquired by an investment group consisting of DW Partners, Paolino Properties and Pyramid Management Group, concluding the mall’s near two-year period of receivership.
With over 6,500 investors considering ownership, this three-member investment group finally put down a $133 million investment on Aug. 19, Aaron Bryson, partner and head of commercial real estate at DW Partners, wrote in an email to The Herald.
For DW Partners, this acquisition was a long time in the making. “Given the amount of debt on the property relative to our estimate of its underlying value, it was an asset that had been on our radar for some time,” Bryson wrote. “We believed the problems with its capital structure did not necessarily reflect the potential of the underlying asset,” he added…