The 195-unit apartment complex known as 480 Main @ Malden Square has been sold. New owner of the complex is DSF Group of Waltham. It was reported in The Real Reporter LLC that DSF Group, backed by $45 million in financing from AXA Equitable Life Insurance Co., paid $73.5 million for the 480 Main Street property or $376,923 per apartment.
The complex, which includes some ground floor retail, many amenities including an outdoor pool, was completed in August 2016. It is reportedly 100 percent occupied. The apartment building was built by Priderock Capital Partners on the site which most recently was a surface parking lot and prior to that a furniture store/warehouse.
DSF was founded in 2000. One of its best known projects in the Greater Boston area includes the conversion of a 500,000 square foot candy factory into the Cambridge headquarters for Novartis, a pharmaceutical company.