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Blue Cross sells two its two Providence buildings

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May 9, 2008

PROVIDENCE, R.I.—Blue Cross & Blue Shield of Rhode Island has sold its two buildings in downtown Providence as it prepares to relocate its headquarters.

The buildings were sold to a Boston real-estate investment firm, Berkeley Investments, but the sale price was not disclosed.

The deal closed April 30 and was announced Thursday by both companies.

Blue Cross, the state's largest health insurer, is building a 13-story, 325,000-square headquarters near Waterplace Park, also in downtown Providence. The company hopes to move in either next year or in 2010.

Blue Cross plans to lease the two buildings it sold to Berkeley, as well as three other buildings it has been renting.

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Information from: The Providence Journal, http://www.projo.com/

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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