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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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.