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August 2, 2006

State announces sale price for AmEx building

PROVIDENCE -- The state pension fund has sold the former American Express building across from the State House for $20 million, according to an announcement released today.

The buyer, RI Gateway Properties, LLC, is involved in the construction of the new GTECH Holding Corp. headquarters nearby.

Neither side would disclose the price yesterday, prior to finalizing the sale of the four-story office building next to the Providence train station and formerly known as the American Express building. The pension fund bought the building for $17.9 million in a bankruptcy court proceeding last year.

Read the story in today's Journal about the sale.

Posted by Steve Peoples  at 12:41 PM | Permalink

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