Continental Realty pays $61.6M for Owings Mills...

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Continental Realty Corp. has acquired Riverstone at Owings Mills, 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…