A New Day Dawns for Providence Place as New Owners Close on $133M Deal

Destiny USA’s owner completes purchase of Rhode Island’s largest shopping center

Syracuse, N.Y. — Pyramid Management Group announced Thursday that it has completed the $133 million purchase of Providence Place, the largest and most visited shopping center in Rhode Island.

Sale of Providence Place mall is finalized after years in limbo - The Boston Globe

The new owners, Pyramid Management Group and Paolino Properties, bought the mall for $133 million and plan to keep it focused on retail

A new day dawns for Providence Place as new owners close on $133M deal

Providence Place sits empty on the morning of Thursday, Aug. 20, 2026, after the end of the 50-minute ceremony to announce new owners had closed on the mall. (Photo by Nancy Lavin/Rhode Island Current)On Aug, 20, 1999, crowds streamed through the Providence Place mall, ready to celebrate the long-awaited opening day of the downtown shopping destination.  On Thursday — exactly 27 years later — a much smaller and more muted celebration unfolded as…

Providence Place sold to ownership group led by former Mayor Joe Paolino and the mall's original developer - What's Up Newp

Providence Place has been sold to a partnership of Paolino Properties, Pyramid Management Group and DW Partners, the group announced Thursday morning at a press conference at the mall with Mayor Brett Smiley. The ownership brings the property back to figures involved in its creation. Joseph R. Paolino Jr., CEO and managing partner of Paolino […] The post Providence Place sold to ownership group led by former Mayor Joe Paolino and the mall’s orig…

New Providence Place owners plan for Costco push, new tenants

New Providence Place owners eye Costco, new tenants, entertainment and tighter security after Wednesday’s sale closes.