Apartments sold on future light rail line - East Valley Tribune: Mesa

Apartments sold on future light rail line

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Posted: Thursday, April 26, 2012 3:17 pm

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.

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