More than 200 tenants of the 388-unit Fairwinds of Annapolis complex of garden apartments and town houses have made arrangements to purchase their units, which are being converted to condominium ownership by Walter J. Hodges and Stephen G. Yeonas, the development team reported. Prices for tenants ranged from $18.400 for a one-bedroom apartment in "as is" condition to $45,200 for a four-bed-room town house. The site on Forest Drive in Annapolis is three blocks from the Chesapeake Bay.

The engineering architectural-planning firm of Greenhorne & O'Mara recently won three awards in various design categories in a competition held by the Maryland National Capital Park & Planning Commision.

New England Mutual Life Insurance Co. has agreed to make a $4.9 million mortgage loan to Gibson Warehousing Co. Inc., Springfield, for three industrial buildings in the Fleet Industrial Park in that area.

Seven college credit courses in real estate will be offered this summer at the Annandale campus of Northern Virginia Community College.

Federal Realty investment Trust announced that it has recently purchased the 28-store Bay Court shopping plaza in Dover, Del., for $4.5 million from Bay Court Plaza Associates.

The Ryland Group Inc. has opened a new group of duplex houses at the Revell Downs community in Anne Arundel County. Prices start at $44,500. The site was formerly at throroughbred training track operated by the late Sylvester Labrot. His former 2,500-acre Holly Beach Farm once included what now is Maryland's Sandy Point State Park with frontage on the bay.

Construction has begun on the section phase of the Governors Square clustered houses being developed adjacent to the City Hall in Falls Church. Barkley Pierce Associates of Falls Church designed the brick colonial dwellings being developed by WBL & A of Darien, Conn., and Rescom Construction of McLean.

Permanent mortgage financing of $2 million has been obtained by National Capital Corp. of Washington for a 350-lot mobile home park built on a 122-acre tract on Rte. 408 in Lothian, Md., in Anne Arundel County.