We study the properties of a nano-electromechanical system in the coherent regime, where the electronic and vibrational time scales are of the same order. Employing a master equation approach, we obtain the stationary reduced density matrix retaining the coherences between vibrational states. Depending on the system parameters, two regimes are identified, characterized by either ($i$) an {em effective} thermal state with a temperature {em lower} than that of the environment or ($ii$) strong coherent effects. A marked cooling of the vibrational degree of freedom is observed with a suppression of the vibron Fano factor down to sub-Poissonian values and a reduction of the position and momentum quadratures.
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