In a real estate and financial climate where most parties are in a state of paralysis, money is still moving and deals are getting done. One such case involves FB Capital Partners, which closed on a $60 million equity fund called FB Real Estate Fund.

Co-working is coming to Providence this fall – and part of the credit goes to RI Nexus, the R.I. Economic Development Corporation’s Web portal for the local information technology and digital-media industry.

The new owner of the historic Union Trust Building in downtown Providence has landed its first tenant after renovating and remarketing the 12-story structure as a technology hub.

Forensic Risk Alliance (FRA), a leading international provider of forensic investigation and litigation support services with offices in New York and London, has entered into a lease agreement to relocate their US Headquarters to the “iBuilding” at 170 Westminster Street in Downtown Providence during the summer of 2008.

Looking down at Providence’s financial district from the 12th floor of the Turks Head Building, FB Capital Partners Managing Director Gary Brandeis said his Philadelphia-based firm did plenty of research – and liked what they found – before investing more than $24 million in Rhode Island.

A Philadelphia-based firm finds the Renaissance City to its liking, investing here even as a jittery economy shakes confidence in the U.S. real-estate market. The firm, FB Capital Partners, has purchased two downtown buildings in the last seven months as it invests in state capitals and medium-sized cities in the Eastern United States.

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.