First Citizens Bank & Trust Provides $32.5M Loan For Acquisition Of Industrial Property In Tempe, AZ

First Citizens Bank and Trust has provided $32.5 million in financing for the acquisition of Gateway University Park I & II, a 268,409-square-foot industrial property located at 1605-1635 West University Drive & 1705-1797 West University Drive in Tempe, Arizona. The property is owned by Bill Galipeau of BKM Capital Partners.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $32,500,000
• Address: 1605-1635 West University Drive & 1705-1797 West University Drive, Tempe, AZ
• Market: Tempe, AZ
• Loan Type: Acquisition
• Lender: First Citizens Bank & Trust
• Landlord: Bill Galipeau - BKM Capital Partners

First Citizens Bank and Trust provided a $32.5 million loan to facilitate the acquisition of Gateway University Park I & II. This industrial property, spanning over 268,409 square feet, is located in Tempe, Arizona. Bill Galipeau, representing BKM Capital Partners, acts as the landlord in this transaction.