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10/24/17
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The Reliant Group has arranged $110 mil in refinancing for the refinance of Mustang Village Apartments, a 39-building, 506-unit student housing community located in San Luis Obispo. The property, situated across the street from Cal-Poly University, provides students convenient access to the entire campus.
Residents enjoy amenities such as a state-of-the-art fitness center, business center, private park, two swimming pools, and six laundry facilities. The property is located within walking distance to Foothill Plaza Shopping Center and Sierra Vista Regional Medical Center. It is also less than a 10-minute drive to Downtown San Luis Obispo, featuring Barnes & Noble, Banana Republic, Pottery Barn, Urban Outfitters, a movie cinema, the famous Bubblegum Alley, and a huge variety of dining venues. The property has great access to SR 1 and US-101.
Andrew Behrens and Jesse Weber of CBRE’s San Francisco office secured the ten-year, full-term interest-only, fixed-rate loan on behalf of The Reliant Group. The loan was provided by Fannie Mae.
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