Continental Realty Corp. has acquired Riverstone at Owings Mills, Maryland, a residential community with 324 apartments, for $61.6 million.

This acquisition is the fifth for Continental Realty Fund IV L.P., a $164 million fund focused on acquiring retail and multifamily properties in the mid-Atlantic and Southeast. The apartment community at 4700 Riverstone Drive was purchased from real estate investment company CIM Group. It consists of one, two and three-bedroom apartment units and is nearly 96 percent occupied.

Tom Hauser and Devin Kitchelt represented Continental Realty in the acquisition of Riverstone at Owings Mills.

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