iBUILDING IDEA: Gary Brandeis, left, managing director of FB Capital Partners, and broker Matt Fair, of Hayes & Sherry, say free Wi-Fi and other features will make the Union Trust building more competitive.

The former Union Trust building, considered one of Providence’s architectural gems, has been sold to a Philadelphia-based private investment partnership for $6.55 million.

FB CAPITAL PARTNERS PURCHASES CITY’S HISTORIC OFFICE LANDMARK PROVIDENCE, R.I. —FB Capital Partners has purchased a 12-story, 62,000-square-foot office building in Providence. Hayes & Sherry brokered the building sale, and MPM Property Management will serve as the property manager. Located at 170 Westminster St. at the corner of Dorrance and Westminster streets, the building was built in 1901 as the Union Trust. It is better known as the Union Trust building and, in recent years, as the Federal Reserve, a restaurant and special events facility fronting 60 Dorrance St. and occupying the entire first floor of the building.