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Malcolm C. Roberts Of FM Global Acquires Office Building In Providence For $68.5M
SOLD
$68,500,000
Rhode Island
See Similar DealsOffice250,000 SF
Sold 02/20/2026
SOLD
Malcolm C. Roberts Of FM Global Acquires Office Building In Providence For $68.5M
10 Memorial Blvd
See Similar DealsOffice250,000 SF
Sold 02/20/2026
Summary
RHODE ISLAND
Asset Type:Office
Price Per Square Foot:$274
Total Square Footage:250,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a 250,000-square-foot office building located at 10 Memorial Blvd, Providence, RI. The sale price for this asset was $68,500,000, reflecting a price per square foot of $274.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $68,500,000
- Buyer: Malcolm C. Roberts - FM Global
- Seller: Tritower Financial Group LLC
- Market: Providence, RI
- Square Footage: 250,000
- Price per Square Foot: $274
This transaction features Malcolm C. Roberts representing FM Global in the acquisition of the property. The seller, Tritower Financial Group LLC, facilitated this sale as FM Global expands its presence along Amtrak’s East Coast corridor, which includes new leases in Boston.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$243,366.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$324,724.95
Annual Debt Service$3,896,699.36
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