SLO’s Mustang Village Refi’d for $110M
CBRE Capital Markets’ Debt & Structured Finance team has arranged $110 million for the refinance of Mustang Village Apartments, a 39-building, 506-unit student housing community located in San Luis Obispo, CA. CBRE’s Andrew Behrens and Jesse Weber secured the ten-year, full-term interest-only, fixed-rate loan on behalf of San Francisco-based The Reliant Group. The loan was provided by Fannie Mae.
The property is located at 1 Mustang Dr., across the street from Cal-Poly University, providing students convenient access to the entire campus. The property includes such amenities as a state-of-the-art fitness center, business center, private park, two swimming pools, and six laundry facilities.
Located within walking distance to Foothill Plaza Shopping Center and Sierra Vista Regional Medical Center, Mustang Village Apartments is also less than a 10-minute drive to downtown San Luis Obispo.
For comments, questions or concerns, please contact Dennis Kaiser