A 336-unit apartment complex along the future Metro light rail line in west Mesa has been sold for $10.5 million. Epernay was bought by Epernay Ventures from the Federal Home Loan Mortgage Association. It was listed by Marcus & Millichap’s Phoenix office.
Epernay, 944 W. Main St., was built in 1981 and includes a fitness center, playground and gated access entry.
Marcus & Millichap said in a news release that the property is a prime target for repositioning because of its location along the Metro line that’s scheduled to open in 2012.