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SILVER SPRING, MD-Lend Lease has acquired two multifamily properties in the Northeastern US, including one community here.

The real estate financial services company acquired Hampton Hollow in Silver Spring and Springfield Apartments in Cranston, RI. Both transactions were done through the company’s Arch Street Funds.

Hampton Hollow is a garden-style apartment community with 240 units. The community was developed in 1987.

In a statement, Lend Lease said it intends to upgrade the management of the property and enhance common area amenities. This was the second acquisition for Arch Street III.

Springfield Apartments is a high-rise apartment community with 216 units in three nine-story buildings. The community was developed in 1989, and is the final investment for Arch Street II.

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