Providence Place Mall Defaults on Final Loan Payment
Providence Place Group, LLP has defaulted on it's final payment on the the Providence Place Mall. The original loan amount in the form of bonds floated through pass-through certificates was $11,514,000 and originally pulled in 1999.
Managed by Brookfield Properties, Providence Place is a 6-story, 1,237,425 SF class-A shopping mall located in Downcity Providence, RI at the interchange of I-95 and US Route 6/10. The property features 150 retailers with mixed-use space.