CBRE Capital Markets Secures $65.5 Million in Financing for Mustang Village Student Housing in San Luis Obispo, CA

San Francisco, CA – October 20, 2015 – CBRE Capital Markets’ Debt & Structured Finance team has arranged $65.5 million in acquisition financing for Mustang Village, a 514-unit, 1,006-bed student housing property located adjacent to California Polytechnic State University in San Luis Obispo, California.

Andrew Behrens and Jesse Weber of CBRE’s San Francisco office arranged the financing on behalf of The Reliant Group. The 10-year, floating-rate loan was provided by Fannie Mae.

“Mustang Village is a unique property located in a supply constricted market where there is an extreme shortage of viable student housing,” stated Mr. Weber. “The Reliant Group has a fantastic vision for the future of the property and both CBRE and Fannie Mae are excited to be able to provide financing that will help this vision become reality.”

Located at 1 Mustang Drive, the garden-style property is designed to give residents a “village” feel, with barbeques, tables, two swimming pools, fitness center, computer lab and television room.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

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