Fitch recently upgraded Providence’s credit rating. What does this mean for real estate investors? Providence is making progress. In recent years, there have been concerns about the City’s economic stability. While even the report linked above notes that there are still some challenges, this credit upgrade by an independent rating agency is a sign of improvement.
PROVIDENCE, R.I. — If you run a business in Wayland Square, chances are high that Boston Celtics co-owner Stephen Lewinstein is your landlord.The real estate investor owns an estimated 80 percent of the commercial real estate in the Square.On Aug. 1, Lewinstein, through his Squaremed Associates LLC, paid $4.65 million for 457-471 Angell St., a block of buildings with tenants that include Bank of America, Red Stripe restaurant and Books on the Square. Chris Greenman of Capstone