DSF Group of Waltham has acquired 480 Main for $73.75 million from Priderock Capital Partners.
The 195-unit, 214,337-square-foot apartment complex is in Malden Square.
The sale price is $378,205 per unit. The complex is asking $1,880 for 526-square-foot studios and $2,845 for two-bedroom units, according to listings on Apartments.com. Average in-place rents as of January 2016 were $2,238 per month, according to a marketing sheet.
CBRE’s Simon Butler and Biria St. John represented the seller. Axa Equitable Life Insurance of New York provided a $45 million mortgage, according to a Middlesex County Registry of Deeds filing.
Downtown Malden is in demand from developers because of its proximity to a busy MBTA transit center including bus, commuter rail and Orange Line service.
A developer is building a 71-unit apartment complex at 126-150 Pleasant St. including an expansion of the former Masonic Building in an $18 million project.
Boston-based Berkeley Investments paid $21.7 million in April for a 314,719-square-foot office building at 200 Exchange St. with plans for collaborative office space and ground-level retail.
An 84-unit development called the Residences at Malden Station was completed last year at 39 Florence St.
DSF’s portfolio includes multifamily properties along the East Coast and the Novartis headquarters in Cambridge, which it converted from a former Necco candy factory.
DSF President Josh Solomon is also owner of the Hartford Yard Goats, the AA affiliate of the Colorado Rockies. The team had planned to relocate from New Britain, Connecticut to a new $63 million stadium in Hartford this spring. But the Hartford Stadium Authority terminated the contract with developers DoNo Hartford LLC and Centerplan Cos. in June after they missed deadlines, forcing the team to play its home games in Norwich. The developer launched a lawsuit against Solomon in July. DSF did not return a call seeking comment.
