ABI Multifamily, a brokerage and advisory services firm, today announced the closing of a $3.9 million apartment project, Park Village Apartments, in Mesa, signifying the growth and redevelopment the light rail extension is projected to stimulate in the area.

The 118-unit garden-style apartment complex, which is located at 226 N. Hobson St. in Mesa was purchased by a Northern California holding company. In addition to the 118 units, the complex houses eight 2-story rental buildings and a leasing office. The property is located on approx. 4 acres, adjacent to Pioneer Park, is steps away from the new light rail park and ride station, and minutes from downtown Mesa.

“Park Village is located across the street from the 17-acre Pioneer Park and within walking distance is the future light rail line,” said Alon Shnitzer, managing partner lead broker for the transaction. “With the development and addition of the light rail line near Park Village Apartments, this location should yield significant growth in the coming years.”

Park Village Apartments is a low-density community, originally constructed in 1973 and renovated in 2012/13. The complex also features two swimming pools, two recently renovated laundry facilities, open and covered parking, upgraded exterior lighting with CFL bulbs, mature landscaping and large gathering areas. Floor plans at Park Village average over 800-square-feet of living space. in-unit features include individual exterior entrances, patios or balconies in select units, ceiling fans, kitchen appliances, and storage space.

For more information on ABI Multifamily, visit www.abimultifamily.com or call 602.714.1400.