Quail Ridge, pictured above, was built in 1987 and includes an outdoor pool, clubhouse/leasing office and a children's playground.

WHITE MARSH, MD. -- Baltimore-based Continental Realty Corp. has purchased two apartment communities in the White Marsh section of Baltimore County for a combined $58.3 million. On behalf of CRC Fund III LP, Continental Realty purchased Lincoln Woods and Quail Ridge from Henderson Global/TIAA-CREF for $29.15 million each.

Lincoln Woods was constructed in 1986 and features an outdoor pool, resident clubhouse/leasing office and a dog park. Quail Ridge was built in 1987 and includes an outdoor pool, clubhouse/leasing office and a children's playground.

"Baltimore County, and the White Marsh submarket in particular, continues to exhibit strong growth in the retail and commercial office sectors and features healthy economic fundamentals across the board," says Gene Parker, president of Continental Realty Corp. "Our research indicates long-term and consistent demand for quality apartment units in White Marsh, and these two new assets provide us with additional inventory to capture additional market share."

Hyatt Atlanta Midtown, which opened in 1987 as a Wyndham, underwent a $23 million renovation and conversion to the Hyatt brand in 2013.

ATLANTA -- RLJ Lodging Trust has acquired the 194-room Hyatt Atlanta Midtown for $49.5 million. The hotel, which opened in 1987 as a Wyndham, underwent a $23 million renovation and conversion to the Hyatt brand in 2013. Hodges Ward Elliott Inc. represented the undisclosed seller in the transaction. RLJ Lodging Trust now owns 147 hotels and two planned hotel conversions in 21 states and Washington, D.C.

"We are excited to add this newly renovated asset to our portfolio and continue to expand our relationship with Hyatt," says Thomas Baltimore Jr., president and CEO of RLJ Lodging Trust. "The purchase of the hotel is immediately accretive to our portfolio and its central location in Midtown Atlanta, one of the most dynamic markets in the Southeast, will position it for exceptional growth."

Landing 405's tenant roster includes Starbucks Coffeee, Tijuana Flats and McAlister's Deli.

POOLER, GA. -- Carolina Holdings Inc. has opened Landing 405, a retail strip center located at 405 Pooler Parkway in Pooler, about 10 miles outside of Savannah. The property's tenant roster includes Starbucks Coffee, Tijuana Flats and McAlister's Deli. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Harper Corp. GrandSouth Bank provided construction financing.

The U.S. apartment market may be well on its way to record-high occupancies, but new development activity poses risks for its strong markets, according to SNL Real Estate.

Data from Axiometrics shows a May national occupancy rate of 95 percent, the highest monthly rate it has recorded since it began tracking apartment properties in April 2008. The firm has called 2014 a "top recovery year" as the annualized effective growth rate moves upward, recording its strongest rate in May at 3.5 percent -- the highest since February 2013.

Second-quarter occupancy figures for multifamily REITs had not been released as of this writing, but the sector delivered a median occupancy rate of 94.8 percent in the first quarter. Over the past three years, the median occupancy rate among multifamily REITs averaged 94.9 percent.

The lowest median quarterly occupancy rate during the past three years was recorded in the fourth quarter of 2011, at 94.3 percent. The highest median quarterly occupancy rate over the three-year period was 95.4 percent, recorded in the second quarter of 2011.

-- staff reports

The Enclave at 8700 features 94 one-, two- and four-bedroom suites, as well as a 24-hour complimentary shuttle bus and study lounge.

COLLEGE PARK, MD. -- Greystone has provided a $29.3 million bridge loan on The Enclave at 8700, a student housing property located within a mile of the University of Maryland in College Park. The Enclave features 94 one-, two- and four-bedroom suites, as well as a 24-hour complimentary shuttle bus, study lounge, electronic key access, fitness center and Wi-Fi. Andrew Ellis of Greystone closed the two-year, floating rate loan with two six-month extensions and an interest-only period for the first 18 months. Jared Cassidy of Marcus & Millichap Capital Corp. and Payton Banks of Marcus & Millichap originated the financing.

The fully furnished Pointe West features a resort-style pool, fitness center, internet caf� with coffee bar, sand volleyball court, basketball court and on-site hiking trails.

COLUMBIA, S.C. -- Pierce Education Properties (PEP) has purchased Pointe West, an off-campus student housing community that serves University of South Carolina (USC) students, for $16.4 million. Pointe West is a 480-bed, 144-unit community west of the USC campus. The fully furnished community features two- and four-bedroom units, modern appliances, leather furniture, private balconies/patios, as well as a private washer and dryer in each unit. 

Property amenities include a resort-style pool surrounded by a large sundeck and hot tub, fitness center, internet caf� with coffee bar, sand volleyball court, basketball court, on-site hiking trails linking to regional riverfront pathways and picnic-style areas equipped with grills. PEP plans to invest another $300 million in other acquisitions in the student housing sector over the next 24 months. KeyBank provided $8.5 million in acquisition financing for the transaction.

Harnett Health Medical Park is fully leased to Harnett Health with tenants including Dunn Medical Services, WakeMed Cardiology and Harnett Health's Wound Center.

DUNN, N.C. -- Flagship Healthcare Real Estate Fund has acquired Harnett Health Medical Park, an 18,623-square-foot medical office building in Dunn, about 40 miles south of Raleigh. The property is located at 803 Tilghman Drive and is adjacent to Harnett Health's 101-bed Betsy Johnson Hospital. Built in 2012, the medical office building is fully leased to Harnett Health with tenants including Dunn Medical Services, WakeMed Cardiology and Harnett Health's Wound Center.

Walden Landing Apartment Homes is a 240-unit apartment community in Hampton, roughly 28 miles south of Atlanta.

HAMPTON, GA. -- NorthMarq Capital has arranged $13 million to refinance Walden Landing Apartment Homes, a 240-unit apartment community in Hampton, roughly 28 miles south of Atlanta. Bill Matone of NorthMarq Capital's Charlotte office arranged the 10-year Freddie Mac loan with a 30-year amortization schedule.

Hoffman Tower II, pictured on the right, houses the U.S. Department of Defense.

ALEXANDRIA, VA. -- Newmark Grubb Knight Frank (NGKF) has arranged the U.S. Department of Defense's (DOD) 606,575-square-foot lease renewal at Hoffman Tower II in Alexandria, roughly eight miles south of Washington, D.C. The office lease transaction is the largest in the Washington, D.C. metro area this year, according to NGKF. 

Brendan Owen and Scott Johnston of NGKF represented the owner, The Hoffman Co., in the transaction. CBRE represented the U.S. General Services Administration (GSA), which signed the lease renewal on behalf of the DOD. The DOD has occupied Hoffman Tower II for more than 30 years.